Advanced Search Results

Commissioner of Income-tax Vs. Appollo Tyres Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Companies Act, 1956 - Sections 205, 205(1), 205(2), 348, 349 and 350; Income Tax Act, 1961 - Sections 28, 32AB, 32AB(1), 32AB(2), 32AB(3), 32AB(5), 43, 72, 73, 115J, 115JA and 115J(1); Unit Trust of India Act, 1963; Finance (No. 2) Act, 1996

Reported in : [1999]237ITR706(Ker)

restriction on certain deductions in the case of companies, with effect from April 1, 1984. Later, by the Finance Act, 1987, the said Chapter was deleted with effect from April 1, 1988. Simultaneously, in the Finance Act, 1987, itself … observed in the said judgment that the Tribunal has already made reference of questions Nos. 1, 3 to 6, 8 and 9(a) and also observed that questions Nos. 2, 10 and 12 need not be referred as

Commissioner of Income Tax Vs. Appollo Tyres Ltd.

Court : Kerala

Subject : Direct Taxation

Reported in : (1998)149CTR(Ker)538

restriction on certain deductions in the case of companies, with effect from 1st April, 1984. Later, by the Finance Act, 1987, the said chapter was deleted with effect from 1st April, 1988. Simultaneously in the Finance Act, 1987, itself … observed in the said judgment that the Tribunal has already made reference of question Nos. 1, 3 to 6, 8 and 9(a) and also observed that question Nos. 2, 10 and 12 need not be referred as

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)

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 … the total income (computed before making any deduction under this clause and Chapter VI-A) or an amount not exceeding two per cent, of the aggregate … irrecoverable in the accounts of the assessee for the previous year. ' 6. Section 36(2) specifies certain conditions to be fulfilled for eligibility to the … The first four appeals are filed by the Dhanalakshmi Bank Ltd. in respect of the assessment years 1986-87, 1987-88, 1988-89 and 1992-93. The next seven appeals are filed by the South Indian Bank Ltd. in respect of

Deputy Commissioner of Income-tax and anr. Vs. Karnataka Bank Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 260A; Finance Act, 1985 - Sections 28, 36(1) and 36(2); Income Tax (Amendment) Act, 1986

Reported in : [2009]316ITR345(KAR); [2009]316ITR345(Karn); (2008)218CTR(Kar)273; 2008AIRSCW1287; 2008(2)SCC475.

No. 258, dated June 14, 1979, to the assessment year 1993-94 though Section 36(2) stood amended by the Finance Act, 1985, with effect from April 1, 1985?3. For the sake of convenience, facts appearing in I.T.A. No. 480 … is higher.7. 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 for bad and doubtful debts … the total income (computed before making any deduction under this clause and Chapter VI-A) or an amount not exceeding two per cent, of the aggregate … cases of CIT v. Podar Cement P. Ltd. : [1997] 226 ITR 625 and in the case of Mysore Minerals Ltd. v. CIT : [1999]

M/s. Sundaram Finance Limited Vs. The Deputy Commissioner of Income Ta ...

Court : Chennai

Subject : Direct Taxation

the above in mind, if we come back to Section 32-AB it could be seen that under the Finance Act, 1987, this Section was amended. We are taking particular note of this amendment, in view of the fact that … Sections 28 to 44DB are grouped together under the heading "D-Profits and gains of business or profession" under Chapter IV which deals with "Computation of Total Income". Section 28 of the Act lists out the different types … 32-A(3)(ii) of the Act and not under Section 72 of the Act. 6. The Assessing Officer also took the view that the depreciation written back

R.P.C. Industries Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2003)85ITD105(Kol.)

result of omission of section 109, Explanation to section 73 was amended with effect from 1-4-1988 by the Finance Act, 1987 (11 of 1987). As per Explanation to section 73, where any part of a business of a company … heard, orders of the authorities below carefully perused, and applicable legal position duly deliberated upon.I find that sub chapter set off, or carry forward and set off in chapter VI of the Income Tax Act begins with … Supreme Court in the case of CIT v.Shahzada Nand & Sons (1966) 60 ITR 392 (SC) at page 400 to the effect that when there

The Commissioner of Income-tax Vs. S.S.C. Shoes Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80HHC, 80VVA, 80VVA(1), 80VVA(2) and 80VVA(4); General Clauses Act - Sections 6; Finance Act, 1983; Finance Act, 1987

Reported in : (2003)181CTR(Mad)317; [2003]259ITR674(Mad)

allowed shall be added to the deduction for the succeeding assessment years. Section 80VVA was deleted by the Finance Act, 1987 with effect from 1.4.1988 and in its place section 115J of the Act was introduced.6. There is no … dividend and hence, the restriction was imposed to the effect that the fiscal incentives and deductions granted under Chapter VI-B of the Act should not exceed 70% of the profits. Section 80VVA(1) has imposed certain restrictions on

Bhoopesh Vs. New India Assurance Company Ltd.

Court : Kerala

Subject : Motor VehiclesCivil

Acts : Kerala Legal Services Authorities Act, 1987 - Sections 19, 19(1), 19(5), 20, 22A to 22E, 23 and 25; Kerala Motor Vehicles Act, 1988 - Sections 165; Consumer Protection Act - Sections 2(1); Constitution of India - Article 39A; Code of Civil Procedure (CPC) ; Kerala Legal Services Authorities (Amendment) Act, 2002

Reported in : 2009(3)KLJ74

Kurian Joseph, J.1. Whether the Permanent Lok Adalat constituted under Section 22B of the Legal Services Authorities, Act, 1987 (hereinafter referred to as 'the Act') has jurisdiction to entertain a claim for compensation under the provisions of … of the parties failing to reach a settlement despite the conciliation and Chapter VI-A was introduced by way of an amendment comprising of Sections 22A … compensation under the Motor Vehicles Act. It has been held at paragraph 6 of the judgment as follows:We have, therefore, no manner of doubt that … available to potential users and includes, but not limited to, the provision of facilities in connection with banking, financing, insurance, transport, processing, supply of electrical or other energy, board or lodging or both, housing, construction, entertainment, amusement

Commissioner of Income Tax - Ii Vs. M/S Multiplex Capital Ltd.

Court : Delhi

Subject : Direct Taxation

2004.'' 8. Minimum Alternate Tax (MAT) scheme was introduced by inserting section 115J in the Act by the Finance Act, 1987. The Finance Minister in his speech indicated the object of introducing the said scheme as under: ''It is … year, there shall be allowed from the amount of income-tax (as computed before allowing the deductions under this Chapter), in accordance with and subject to the provisions of sections 88, 88A, 88B, 88C, 88D and 88E, the … are to be clubbed while computing the income of an assessee. Chapter VI of the Act provides for the aggregation set off and carry forward

Commissioner of Income Tax - Ii Vs. M/S Mbl and Co. Ltd

Court : Delhi

Subject : Direct Taxation

2004.'' 8. Minimum Alternate Tax (MAT) scheme was introduced by inserting section 115J in the Act by the Finance Act, 1987. The Finance Minister in his speech indicated the object of introducing the said scheme as under: ''It is … year, there shall be allowed from the amount of income-tax (as computed before allowing the deductions under this Chapter), in accordance with and subject to the provisions of sections 88, 88A, 88B, 88C, 88D and 88E, the … are to be clubbed while computing the income of an assessee. Chapter VI of the Act provides for the aggregation set off and carry forward