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Estate Late Shri Dharambir Vs. the Dcit [Alongwith Ita Nos. 7279,

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96TTJ(Mum.)880

drawn attention of the A.O on the provisions of Section 45(5) which was introduced w.e.f. 1/4/88 by the Finance Act 1987. The case laws cited before A.O were as follows.However, the A.O was of the view that the … Trust, as cited by Mr. Trivedi. Ld. D.R has mentioned that since this judgment was delivered in July, 1986 the Parliament lost no time and brought into statute Section 45(5)(b). An explanation was also introduced to tax

Shriram Transport Finance Co. Ltd. Represented by Its Senior Recovery ...

Court : National Consumer Disputes Redressal Commission NCDRC

Subject : Land Acquisition

delay, it has been simply mentioned that small period of delay can be condoned under the Consumer Protection Act, 1986 (for short, Act) by imposing cost. In support, learned counsel has relied upon certain judgments also. 8. State … Co. Ltd. vs. Kailash Devi and Ors. AIR 1994 Punjab and Haryana 45, it has been laid down that; œThere is no denying the fact … this common order. . 2. Facts in brief are that respondents/complainants purchased TATA Ace Autos which have been financed by the petitioners/OP, by hypothecating their vehicles. Petitioners seized the vehicle without any intimation. Accordingly, respondents filed complaint … for the exercise of discretion of jurisdiction vested in this Court under Section 15(a) of the Consumer Protection Act. The discretion conferred on this court

Pallonji Shapoorji and Co. (P) Vs. Deputy Commissioner of Wealth Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)102ITD101(Mum.)

right to occupy premises belonging to a co-operative housing society are taxable assets under Section 40 of the Finance Act, 1983 in the case of a private limited company? Assessee has filed its return of wealth on 9th … 1885/Bom/1989 and WTA Nos.2213 to 2215/Bom/1989 for the asst. yrs. 1984-85 to 1986-87. Assessee also relied upon a connected case of an associate concern, M/s … such were not to be included in the net wealth. This was particularly so since the provisions of Section 45(g) of the Act specifically provided that no tax shall be levied under this Act in respect of net

Estate of Late Shri Dharambir

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)95ITD83(Mum.)

the assessing officer on the provisions of section 45(5) which was introduced with effect from 1-4-1988 by the Finance Act, 1987. The case laws cited before assessing officer were as follows:CIT v. Hindustan Housing & Land Development Trust … case laws cited before assessing officer were as follows:CIT v. Hindustan Housing & Land Development Trust Ltd. ( 1986) 161 ITR 524 (SC) 4. CIT v. Seksaria Bhiswan Sugar Factory (P.) Ltd. (1992) 195 ITR 778 (Bom.)

industrial Machinery Associates Vs. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2002)81ITD482(Ahd.)

beyond the purview of taxation under Section 45. The learned counsel argued that Section 50B introduced by the Finance Act, 1999 w.e.f. 1st April, 2000 brought the transaction of slump sale within the purview of capital gains under … (ga) of Sub-section (1) of Section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986)." Under the Sick Industrial Companies Act Section 3(1)(ga) defines the expression 'net worth' as the sum total of

Burlingtons' Exports Vs. Assistant Commissioner Of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1993)45ITD424(Mum.)

taxed 'capital gains' arising after the 31st March, 1946 and the levy was virtually abolished by the Indian Finance Act, 1949, which confined the operation of the section to'capital gains' arising before the lstApril, 1948. The Finance (No. … the alleged transfer of the properties to the two partners in October 1986. According to him the transfer followed by the retirement suggested a clear … to the respective occupant partners. The Assessing Officer asked the assessee to show cause why the provisions of Section 45(4) of the Income-tax Act, 1961, be not applied. The assessee submitted that this section applies only when there

Mrs. Catherine Thomas Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2008)116TTJ(Coch.)797

following submissions : It was argued that the legislature while inserting Sub-section (5) in Section 45 through the Finance Act, 1987 w.e.f. 1st April, 1988 did not provide for cases where enhanced compensation was reduced by any Court, … sq. ft. of building under the Land Acquisition Act. The Government acquired the said property on 10th July, 1986 and taken the possession on 10th Sept., 1986. The Tehsildar passed the land acquisition (LA) award on 10th

Sri. K. Mahendar Vs. the Commissioner of Income-tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45(5), 143(1), 143(3), 148 and 155(7A); Finance Act, 1978; Direct Tax Laws (Amendment) Act, 1978; Finance Act, 1987; Limitation Act - Sections 5

Reported in : (2008)214CTR(Mad)598; [2008]303ITR245(Mad)

The Assessing Authority further pointed out that under Section 155(7-A) (since omitted with effect from 1.4.1992) introduced the Finance Act, 1978 with effect from 1.4.1974 and amended by the Direct Tax Laws (Amendment) Act, 1978 with effect from … the sum of Rs. 2,02,624/- has to be assessed as 'capital gains' in the assessment year 1991-92 under Section 45(5)(b) of the Income-tax Act, 1961?(ii) Whether the Income-tax Appellate Tribunal on the facts and circumstances of the case

Mrs. Catherine Thomas Vs. the Dy. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2008)111ITD132(Coch.)

the following submissions: It was argued that the legislature while inserting Sub-section (5) in Section 45 through the Finance Act 1987 with effect from 1-4-1988 did not provide for cases where enhanced compensation was reduced by any courts … relation to the statement given in 1985. The assessee also explained that he had sufficient money also in 1986-87. The AO made the addition based on the admission of the assessee in the sworn statement recorded during

Bharatiya Janata Party Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)80ITD89(Delhi)

10 each. The interest income therefrom would normally be assessable under Sections 18 to 21, deleted by the Finance Act, 1988 w.e.f. 1st April, 1989. From the asst. yr.1989-90, interest on securities is assessable as business income under … Canstar, as "Income from other sources" and failed to appreciate that the perquisites for attracting the provisions of Section 45 of the IT Act, were not satisfied in the present case. The assessee prays that the income from … been filed before us by the assessee pertaining to the asst. yrs. 1986-87 to 1998-99 (Annexure "A") which shows that for a good period of