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Commissioner of Income-tax Vs. India Steamship Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 43 and 43(1)

Reported in : [1992]196ITR917(Cal)

expenditure, but the intention of the Legislature as contained in Explanation 8 to Section 43(1) inserted by the Finance Act, 1986, is that the benefit of such capitalisation would be denied on and from the assessment year 1974-75. Accordingly, … Pursuant to the decision of the Supreme Court, the following questions of law have been referred under Section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue for the assessment year 1972-73 :' 1.

Wellpoint Systems (P.) Ltd Vs. Inspecting Assistant Commissioner.

Court : Delhi

Subject : Direct Taxation

Reported in : [1989]30ITD236(Delhi)

in this appeal relates to the claim ability of deduction under section 32AB which was inserted by the Finance Act, 1986 with effect from 1-4-1987. That provision is to the effect that where an assessed whose income includes income … different meaning had to be given to the expression previous year.(iii) The deposit made with the IDBI on 25-6-1987 should be treated as deposit made within time.The learned Commissioner of Income-tax (Appeals) noticed that since the scheme

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 … 3. The genesis of the issue is a show cause notice dated 25.4.2006 issued by the revenue to the appellant, inter alia, recording that the

Pioneer Urban Land and Infrastructure Limited Vs. Union of India

Court : Supreme Court of India

Subject : Land Acquisition

followed Shri Gopal Sankaranarayanan, placed before us the Global Derivatives Study Group and extracts from Philip Wood’s Project Finance, Subordinated Debt and State Loans; and 23 Principles of International Insolvency by the same author. He then relied … filed by allottees before them, until the National Consumer Disputes Redressal Commission finally decided that the Consumer Protection Act, 1986 was an additional remedy and continued to be an additional remedy to the remedies provided under RERA. They … to be “financial creditors” so that they may trigger the Code, under Section 7 thereof, against the real estate developer. In addition, being financial creditors, … each financial creditor to the extent of his voting share.” 3. Section 25A “25A. Rights and duties of authorized representatives of financial creditors - (1)

Commissioner of Wealth-tax Vs. M.K. Abdul Khader Haji (Decd.)

Court : Kerala

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 5 and 5(1); Finance Act, 1976; Foreign Exchange Regulation Act, 1973

Reported in : [2000]242ITR728(Ker)

immediately preceding the date of his return. Explanation 2 to Section 5(l){xxxiii) {which has been inserted by the Finance Act, 1986, with retrospective effect from April 1, 1977) clarifies that moneys standing to the credit of an eligible assessee … to be moneys brought by him into India on that date. Earlier, Department Circular No. 411 dated February 25, 1985 {see [1985] 152 ITR 227), has clarified the same position in the absence of a statutory provision

Shree Jagannath Packers and ors. Vs. State of Orissa and ors.

Court : Orissa

Subject : CivilSales Tax

Acts : Orissa Sales Tax Act, 1947 - Sections 6, 7 and 12; Central Sales Tax Act, 1956 - Sections 8(5) and 13(3); State Financial Corporation Act, 1951 - Sections 29; Orissa General Clauses Act, 1937 - Sections 22; Punjab General Clauses Act, 1898 - Sections 19; Bihar Finance Act - Sections 7; Customs Act, 1962 - Sections 25 and 25(1); Electricity Supply Act - Sections 49; Rajasthan Sales Tax Act, 1954 - Sections 4(2); East Punjab Public Safety Act - Sections 20 and 36(1); General Clauses Act, 1897 - Sections 21; Central Sales Tax (Deferment of Payment of Taxes) Orissa Rules, 1990; Constitution of India - Articles 14, 154(1), 154(2), 161, 162 and 166(3)

Reported in : [2005]141STC26(Orissa)

that a notification issued by the State Government in exercise of powers under Section 7 of the Bihar Finance Act to the extent it is repugnant to the Industrial Policy Resolution of the Government of Bihar is bad. … disposable syringe at Chandaka Industrial Estate, Patia, Bhubaneswar pursuant to the IPR 1986 and commenced commercial production on May 9, 1998 and is a continuing … rescind such notification of exemption of tax and/or deferment of payment of tax. They also pointed out that Section 25 of the Customs Act provides for the powers of the Central Government to grant exemption from duty but

Assistant Commissioner of Vs. Canara Food Processors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)45ITD500(Pune.)

it has been held that the amendment to Section 40(3)(vi) of the Finance Act, 1983 made by the Finance Act, 1986 was certainly curative and therefore normally could be declared as declaratory of existing law. In that case, the … as they were erroneous and prejudicial to the interest of revenue within the meaning and expression contained in Section 25(2) of the Wealth-tax Act for the following reasons, viz., the value of land held in stock-in-trade for the

Shree Sanyeeji Ispat Pvt. Ltd. and anr. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax

Acts : Assam General Sales Tax Act, 1993 - Sections 4(1), 4(5), 4A, 5, 9(4), 65A and 74(3); Assam Sales Tax Act, 1947 - Sections 7; Jammu and Kashmir General Sales Tax Act - Sections 8B; Bihar Finance Act - Sections 7 and 7(3); Evidence Act - Sections 115; Uttar Pradesh Sales Tax Act, 1948 - Sections 4; Kerala General Sales Tax Act, 1963 - Sections 10; Karnataka Sales Tax Act, 1957 - Sections 8A; Customs Act, 1962 - Sections 25; Constitution of India - Article 299; Central Excise Rules, 1944 - Rule 8

Government issued notification, on April 4, 1994, in exercise of the powers under Section 7 of the Bihar Finance Act, whereunder the old industrial units, which had started production prior to April 1, 1993 but whose investments in … industries had already taken some benefits under the prior Industrial Policy of 1986. The notification, dated April 4, 1994 aforementioned, issued by the State Government … 1994ECR637(SC) , the apex Court was required to consider the question as to whether the notification issued under Section 25 of the Customs Act, 1962, granting complete exemption from payment of customs duty to PVC resin imported into

20th Century Finance and Consultancy Services Limited Vs. Khanna Rayon ...

Court : Mumbai

Subject : SICA

Acts : Contract Act, 1872 - Sections 148; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22(1); Transfer of Property Act, 1882 - Sections 3

Reported in : 1991(4)BomCR301

true construction of the said agreements, the alleged lease agreement is nothing but hire purchase agreement or loan finance agreement. The first question, therefore, which arises for consideration of the Court is as to what is the … :---(a) By a master agreement of lease No. TCF/24/1986 dated 28th April, 1986, the plaintiff leased the suit equipments/machineries to the defendant on the terms … 17 is under preparation or consideration or a sanctioned scheme is under implementation or where an appeal under section 25 relating to an industrial company is pending then not withstanding anything contained in the Companies Act, 1956 (1

Larsen and Toubro Ltd. and ors. Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Constitution of India - Articles 286 and 366(29A); Bihar Finance Act, 1981 - Sections 2, 25A, 25A(2) and 25A(7); Bihar Taxation Laws (Amendment and Validation) Act, 1993; Central Sales Tax Act, Sections 3, 4, 5, 14 and 15

Sachchida Nand Jha, J. 1. The vires of Section 25-A of the Bihar Finance Act, 1981 and the related rules and notification regarding deduction of sales tax at source from the contractors' bills