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Ashish Developers and Builders (P) Limited and Another Vs. Appellate A ...

Court : Andhra Pradesh

Subject : Property

Acts : Income-tax Act, 1961 - Sections 269-U; Finance Act, 1986; Urban Land (Ceiling and Regulation) Act, 1976 - Sections 4(11); Tamil Nadu Urban Land Ceilling Act - Sections 6

Reported in : 2001(3)ALD253; 2001(2)ALT570; (2003)179CTR(AP)177

purchase of property by the Central Government. Chapter XX-C containing Sections 269U to 269UO was inserted by the Finance Act, 1986 providing for purchase by the Central Government of immovable properties in certain cases of transfer in replacement of … hands of DBR the Special Officer and Competent Authority held that 16 acres of land as protected under Section 4(11) of the Urban Land (Ceiling and Regulation)Act and the balance of 6-5 acres was declared as excess

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 … not carry the contention of revenue any further. 5.2 He would draw the attention of the Court to sub-section (4) of Section 58 which provision indicates about the amounts not deductable or in other words, restrictions with regard

Doom Dooma Tea Co. Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 37 and 40; Companies (Profits) Surtax Act, 1964

taxes are the income-tax, supertax and surtax. As on today, the super-tax is repealed by the amendment of Section 4 of Act VII of 1964 by the Finance Act XXIII of 1986. The surtax is discontinued for and … Finance Act XXIII of 1986. The surtax is discontinued for and after the assessment year 1988-89 under the Finance Act, 1986. 3. The income-tax was levied at first in 1886. In that Act, no distinction was drawn of sources

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

Deputy Commissioner of Income-tax Vs. Core Healthcare Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 4, 5, 28 to 43D and 145; Finance Act, 1986 - Sections 9; Income-tax Act, 1922 - Sections 10(2)

Reported in : (2001)169CTR(Guj)416; [2001]251ITR61(Guj)

1986. The said circular deals with the explanatory notes on the provisions relating to direct taxes in the Finance Act, 1986 : at [1986] 161 ITR 30, it is laid down as under :'(ix) Modification in the definition of … been included, in the actual cost of such asset.' 12. The charge of income-tax has been prescribed in Section 4 of the Act, wherein it is laid down that income-tax at the prescribed rate shall be charged for

South Indian Bank Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1985; Income Tax Act, 1961 - Sections 36, 36(1) and 36(2)

Reported in : (2003)183CTR(Ker)21; [2003]262ITR579(Ker)

the prescribed manner, whichever is higher.' 4. Clause (viia) had again undergone a change, by the Income-tax (Amendment) Act, 1986, from April 1, 1987, the relevant portion of which reads as follows :'(viia) in respect of any provision … 36(1) and Clause (v) of Section 36(2) were inserted simultaneously with effect from April 1, 1985, by the Finance Act, 1985. Clause (viia) of Section 36(1) of the Act, it must be noted, was inserted by Act 21

Petrosil Oil Company Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(17), 2(18), 2(18)(B), 18(5), 43(5), 66(1), 81, 104, 108, 139, 194, 246 and 259

Reported in : [1999]236ITR220(Bom)

in the Finance (No. 2) Act of 1971, for the purpose of the First Schedule to the said Finance Act 2. Whether, on the facts and in the circumstances of the case, the Tribunal rightly held that no … read with clause (b) of section 108 of the Act. The expression 'subsidiary company' has been defined in section 4 of the Companies Act as under : '4(1) For the purposes of this Act, a company shall, subject

Sone Vanaspati Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

notification stricto sensu which could exempt the petitioner from the incidence of Sales Tax. Reference was made to Section 4 (3) of the 1959 Act and Section 7 of the Bihar Finance Act, 1981 which provide that the … informed the Assistant Commissioner Commercial Taxes. Aurangabad (Respondent No. 5) that the notification in question under the Bihar Finance Act, 1981 was expected to be issued shortly.6. According to the petitioner despite the same it has been threatened … of this Court in Tara Steel industries v. Assistant Commissioner reported in 1986 BBCJ 201.8. It was next contended that in any event, the policy

Berlia Chemicals and Traders (P) Ltd. Vs. Asstt. Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)76TTJ(Mumbai)974

would have specified so in no uncertain terms as was done when Explanation 8 was inserted by the Finance Act, 1986, with retrospective effect from 1-4-1974. The situation in the present case is clearly distinguishable from the one which … after claiming deprecation of Rs. 28,97,697. The assessee was assessed at a positive income of Rs. 25,36,330 under section 143(3) of the Act, the major disallowance being that of depreciation amounting to Rs. 26 lakhs, the facts

J. C. T. Limited Vs. Assistant Commissioner of Income Tax.

Court : Kolkata

Subject : Direct Taxation

Reported in : (1998)61TTJ(Cal)206

the learned CIT did not rely upon Expln. 8 to s. 43(1) which had been inserted by the Finance Act, 1986, with retrospective effect from 1st April, 1974. The same was not referred to by the parties during the … a reasonable opportunity to furnish all necessary information.6. Ground of appeal No. 4 is directed against the authorities below disallowing the assessees claim of deduction … the provisions of s. 208 of the Companies Act, 1956, may, however, be capitalised as permitted by that section. Interest on monies which are specifically borrowed for the purchase of a fixed asset may be capitalised prior