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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

Deputy Commissioner of Income Tax, Ahmedabad Vs. Core Health Care Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43(1), 80HH, 80I, 90(2) and 260A; Finance Act, 1986 - Sections 43(1); Finance Act, 2003

Reported in : 105(2008)CLT433(SC); (2008)215CTR(SC)1; [2008]298ITR194(SC); JT2008(2)SC367; 2008(2)SCALE327; (2008)2SCC465; 2008AIRSCW1425

directly or indirectly by any other person or authority. Explanation 8 has been inserted in Section 43(1) by Finance Act, 1986 (23 of 1986), with retrospective effect from 1.4.74. It is important to note that the word 'actual cost'

State Of Jharkhand And Ors. Etc Vs. Linde India Ltd And Anr Etc

Court : Supreme Court of India

Subject : Education

the rate of tax for other than “raw material inputs” continued at 3%. A certificate (Form VI-B) under Section 8 of the Bihar Finance Act, 1981 was issued in the name of respondent No.2 herein - M/s Tata … the present appeals in nutshell are as under: A certificate (Form VI-B) under Section 6 of the Bihar Finance Act, 1957 was issued in the name of erstwhile India Oxygen Limited, which was subsequently re-named as Linde India

ScIndia Steam Navigation Company Limited Vs. Sam Rustomji Lakdawala an ...

Court : Mumbai

Subject : Constitution

Reported in : (1994)96BOMLR976

Oil and Natural Gas Commission the Life Insurance Corporation and the Industrial Finance Corporation could be described to be 'authorities' within the meaning of Article … learned Judge of this Court contending that consequent upon the enactment of the Shipping Development Fund Committee (Abolition) Act, 1986 ('Act', for short) and its imposition upon the Company with effect from April 3, 1987 it became a … the Central Government.15. Chapter III of the Act deals with the special powers of the Central Government. Under Section 8 the Central Government may, by notice in writing, require a ship owner to whom the Committee (S.D.F.C.) had

Commissioner of Income-tax Vs. India Pistons Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 32A, 43 and 43(1); Finance Act, 1986

Reported in : (1999)155CTR(Mad)37; [2000]242ITR672(Mad)

such asset.'5. Explanation 8 to Section 43(1) of the Income-tax Act was inserted by Section 9 of the Finance Act, 1986, with retrospective effect from April 1, 1974. It declares that where any amount is paid or is payable

Commissioner of Income-tax Vs. P.A. Venkataraman

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 5 and 64; Finance Act, 1986

Reported in : [2000]246ITR773(Mad)

as to whether the words 'total income' in sub-paragraph II of paragraph A in Part III of the Finance Act, 1986, which refers to the income of the individual would also include the income of other persons whose income … the income of other persons whose income is required to be treated as part of his income under Section 64 of the Income-tax Act, 1961, which occurs in Chapter V of the Income-tax Act, is the question

Core Health Care Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

the learned Accountant Member. Further I find that the aforesaid provision came into force in the statute by Finance Act, 1986 with retrospective effect from 1-4-1974. Admittedly, that provision was not in existence while Hon'bte Supreme Court and Hon'ble … the CIT(A) erred in not allowing interest paid on borrowings amounting to Rs. 1,56,76,000 as a deduction under section 36(1)(iii). (3) The CIT(A) erred in not allowing the following expenditure as revenue expenditure:-- On the facts and … receipt of Rs. 99,30 lacs from income eligible for deduction under sections 80HH and 80-I. Your appellant submits that this income forms part of income

Cit Vs. the Bank of Rajasthan Ltd.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2002)174CTR(Raj)400

the assessment year 1987-88.2. This court admitted the appeal on the following question of law :'Whether after the Finance Act, 1985, amending the provisions of section 36(1)(viii) and section 36(2) with effect from 1-4-1985, inserting proviso to section … bad and doubtful debts account made under that clause.'7. Section 36(1)(viia) was introduced by the Income Tax (Amendment) Act, 1986, with a view to provide for grant of deduction in respect of provision for bad debt made by

Twenty First Century Steels Ltd. Vs. Dy. Commissioner of Income-tax,

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2005)94ITD258(Delhi)

accordance with Sub-section (5), 26. The provisions of Section 32AB relating to investment deposit account were inserted by Finance Act, 1986 w.e.f. 1-4-1987 relevant for A.Y. 1987-88. In the budget speech reported in 158 ITR 4 (Statute), the Hon'ble … to this extent and the lease rent was reduced from Rs 55,975/- p.m. to Rs. 45,100/- from December, 88/January, 89. Thus when the assessee purchased these transformers, the company purchased a used machinery and not a 'new'

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 … The same was, thereafter, furnished by the appellant vide its letter dated 8.3.2006. It was, alleged that the appellant had suppressed material facts and knowingly,