Advanced Search Results

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by Finance Act , 1986 Section115BB has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races (other than … and other game of any sort" as defined under section 194B of the Act. 38. Sub-clause (ix) of sub-section (24) of section 2 was inserted by the Finance Act, 1972, with effect from 01.04.1972. A perusal of the

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by Finance Act , 1986 Section115BB has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races (other than … Section 74A would be applicable read with Section 2(24)(ix) and the taxability is sought to be brought under Section 24 115BB wherein the ‘income from the activity of owning and maintaining race horses’ is excluded. He would contend

Commissioner of Income-tax, Madras Vs. G.R. Karthikeyan

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India; Income Tax Act, 1961 - Sections 10(3), 2(24), 23(2) and 256(1); Finance Act, 1972 - Sections 74(A); Finance Act, 1986; Indian Income Tax and Excess Profits Tax (Amendment) Act, 1947; Indian Income Tax Act, 1922 - Sections 12(B); Government of India Act, 1935

Reported in : AIR1993SC1671; (1993)112CTR(SC)302; [1993]201ITR866(SC); JT1993(3)SC174; (1993)2MLJ82(SC); 1993(2)SCALE588; 1993Supp(3)SCC222; [1993]3SCR328

extent such receipts do not exceed one thousand rupees in the aggregate'. (The clause has been amended by Finance Act, 1986 but we are not concerned with it. Similarly it is not necessary to notice the proviso to the … it in the affirmative i.e., in favour of the assessee and against the Revenue. The question referred under Section 256(1) of the Income-tax Act reads as follows:Whether, on the facts and in the circumstances of the case, … is concerned only with giving protection to personal liberty. [241 H-242 C, 244 B-C]. The Act does not give any power to deprive any one

G.N. Pant Vs. Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 2(24), 10(3), 74A, 80TT, 194B, 194BB and 256(1); Finance Act, 1986

Reported in : 2001IAD(Delhi)48; 89(2001)DLT433; [2001]248ITR718(Delhi)

Section 74A was introduced with effect from April 1, 1972. Sub-section (2) thereof, which was omitted by the Finance Act, 1986, reads as follows : '(2) The sources referred to in Sub-section (1) are-(a) lotteries ;(b) crossword puzzles ;(c)

A.C.i.T. and D.C.i.T. Vs. Shri Raghunath B. Taware

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2008)302ITR136(Pune.)

together. First two provisions have been introduced by the same Finance Act 1972 Section 115BB was introduced by Finance Act 1986 seeking to replace Section 80 TT which was introduced by Finance Act 1972. In all these sections reference … in view 6f the decision of the lion. Supreme in the case of Kaumudini Narayan Dalai reported in 249 ITR page 219. The principle propounded in the said decision applies will full force to the assessee also.

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

amount of Rs.2,04,39,093/- under provisions of Rule 14 of the Credit Rules read with Section 73 of the Finance Act,1994. In respect of towers and parts thereof, prefabricated building, printers and office chairs, the Commissioner observed that the … inputs for manufacture of sanitary-ware. The assessee had claimed the benefit of exemption under a Notification no.217 of 1986. The revenue declined to grant benefit of exemption. The Tribunal had set aside the orders passed by the … Schedule as specified in sub-clause (i) of the definition of capital goods. 24. The alternate contention of the appellant is therefore that tower is an

ivory Mart Vs. Union of India and ors.

Court : Delhi

Subject : Direct Taxation

Reported in : (2002)174CTR(Del)634

system more user friendly.'The petitioner took benefit of this scheme and made declaration under section 89 of the Finance Act (2 of 1998) in respect of Kar Vivad Samadhan Scheme, 1998. The declaration was made on 24-12-1998. The … that application, the petitioners prayed that the respondents be restrained from reopening the petitioners' assessments for the periods 1986-87, 1987-88, 1988-89, 1989-90, 1990-91.During the pendency of that writ petition, respondents introduced KVSS, 1998. This scheme was introduced

Commissioner of Income-tax Vs. Ahmedabad Electricity Co. Ltd.

Court : Gujarat

Subject : Direct TaxationElectricity

Acts : Income Tax Act, 1961 - Sections 36(1), 36(2) and 43B; Indian Electricity Act, 1910 - Sections 24; Gujarat Closed Textile Undertakings (Nationalisation) Act, 1986; Finance Act, 1987

Reported in : [2003]262ITR97(Guj)

agent of the Government. The amendment inserting the first proviso to Section 43B was brought about by the Finance Act, 1987, inserted with effect from April 1, 1988, is held to be having a retrospective effect, as per … their liabilities. These mills were admittedly taken over under the provisions of the Gujarat Closed Textile Undertakings (Nationalisation) Act, 1986. Chapter II of that Act provides for acquisition of the rights of owners of specified textile undertakings. As … been withdrawn.'22. The record also indicates that the assessee-electricity company had disconnected electricity supply of these debtors. Under Section 24 of the Indian Electricity Act, 1910, it has been provided that, 'where any person neglects to pay any

Anantapur Textile Limited Vs. Collector of Customs and ors.

Court : Kolkata

Subject : Customs

Acts : Companies Act, 1956; ;Customs Act, 1962 - Sections 2(24), 15, 15(1), 16, 30, 31, 31(1) 32, 46, 50 and 68; ;Finance Act, 1986; ;Constitution of India - Article 226

Reported in : 1988(15)ECC280,1988(33)ELT12(Cal)

the Act relating to export goods (as it stood prior to the substitution of the Section by the Finance Act of 1986) was given effect to by the Supreme Court in Gangadhar Narasingh Das v. P.S. Thrivikraman, - … 2.10 P.M. Before this the Bill of Entry was presented and provisional assessment of duty was made on 24-10-1980 and the duty of Rs. 1,92,567.53 p. was realised.However, according to the proviso to Section 15(1) of the

Yagyawati Jayswal Family Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2004)89ITD199Cal

with effect from 1-4-88 and the transactions covered under Section 269UA incorporated with effect from 1-10-86 by the Finance Act, 1986 had been made applicable and that by virtue of the said amended provisions the income of the assessee … escapement of income insofar as deductions allowed to the assessee were far in excess of educations permissible under Section 24 of the Act. Except for the assessment years 1996-97 and 1997-98 the date of issue of notice under