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Pawan Kumar and ors. Vs. Directorate of Revenue Intelligence

Court : Delhi

Subject : Criminal

Acts : Customs Act, 1962 - Sections 8, 11, 14, 27, 50(2), 111, 104, 113, 123, 132, 135, 135(1), 135(2), 136, 136(1) and 136(2); Finance Act, 2003; Income Tax Act, 1961 - Sections 43B; Finance Act, 1987; Indian Penal Code (IPC) - Sections 107; Foreign Exchange Regulation Act - Sections 18 and 67

Reported in : 2007(94)DRJ566; 2007(218)ELT331(Del)

Bombay v. Podar Cement Pvt. Ltd. : [1997]226ITR625(SC) , the Supreme Court held that amendments introduced by the Finance Act, 1987 in so far as they related to Section 27(iii), (iiia) and (iiib) which redefined the expression 'owner of … Act. Even the expression concerned will cover cases which will not amount to abatement of the offence Under Section 107 of the IPC. As such it has to be said that if a person is interested in or

Chandulal Venichand Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (1991)38ITD138(Ahd.)

appeals relates to interpretation of provisions of Section 43B of the Income-tax Act, 1961 as amended by the Finance Act, 1987 and the Finance Act, 1989.3. In ITA No. 229/Ahd/1988 the assessee is firm of M/s. Chandulal Venichand carrying … Murray & Co. (P.) Ltd. v. CIT [1974] 97 ITR 615 (SC), CIT v. Tollygunge Club Ltd. [1977] 107 ITR 776 (SC), Good Year India Ltd. v. State of Haryana [1991] 188 ITR 402 (SC), S. Gopal

India Brewery and Distillery (P) Vs. Income Tax Officer.

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1994)48TTJ(Bang.)11

law relating to sales-tax.This facility is provided by the first proviso to S. 43B as introduced by the Finance Act, 1987, w.e.f. 1st April, 1988. It has been decided by the Karnataka High Court in the case of Chief … to the Budget Speech of the Finance Minister for 1977-78 printed in 107 ITR 65 (St), with regard to the introduction of the scheme of … plant and machineries stated to have been installed by it in these two years in its Industrial Alcohol Section.The assessee mainly carries on the business of manufacturing India made foreign liquors like whisky and rum, etc., which

The Asst. Commissioner of Vs. Madan Mohan Lal Shriram Pvt. Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

(v) which was held by him as clarificatory and retorspective in nature. clause (v) had been inserted vide Finance Act 1987 w.e.f. 1.4.1988 15. The above action of the AO was challenged by the assessee before the learned CIT(A), … on the facts and circumstances of the case, the learned CIT(A), has erred in holding that amendment to section2(47) was clause(v) of the said section 2(47) of the IT Act'., 3. 'That on the facts and circumstances … working out the value of this property at Rs.97.82 lacs and Rs. 107.33 lacs for the two years respectively based on present net value (NPV)

India Brewery and Distillery (P.) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1993)47ITD441(Bang.)

relating to sales tax.This facility is provided by the first proviso to Section 43B as introduced by the Finance Act, 1987 with effect from 1-4-1988. It has been decided by the Karnataka High Court in the case of Chief … also drew our attention to the Budget Speech of the Finance Minister for 1977-78 as printed in [1977] 107 ITR (St.) 65 with regard to the introduction of the scheme of investment allowance, the learned representative of

Shriram Investments Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1996)59ITD570(Mad.)

respect of tax holiday profits, depreciation is deemed to have been allowed. Section 115J was enacted by the Finance Act, 1987 w.e.f. 1-4-1988 but such a deeming provision is totally absent. In other words, the Legislature has not chosen … as unabsorbed depreciation which has to be carried forward.11. Shri Gopal referred to the date furnished on page 107 of the paper book No. 1 and illustrated his arguments on the following lines : A. First argument

Jai Pal Sharma Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2000)72ITD485(Delhi)

to point out that provisions of section 80CCA of the Act were brought to the statute through the Finance Act, 1987 with a view to provide incentive to the net savings to be made by different types of assessees. … citation referred to by the ld. DR was that of CIT v. Vania Silk Mills (P.) Ltd. [1977] 107 ITR 300 (Guj.) on this point. The plea is that definition of word 'income' is of wide impact

Commissioner of Income-tax, Faridabad Vs. Kapil Kumar Agarwal

Court : Punjab and Haryana

Subject : Direct Taxation

computed as per clauses (a) and (b) of sub section (1) of Section 54F of the Act. 11. Finance Act, 1987 had inserted sub section (4) of Section 54F of the Act effective from 1.4.1988. According to sub section … A.III allowed the appeal relying upon decision of the Kerala High Court in ITO v. K.C. Gopalan [1999] 107 Taxman 591 holding that section 54F of the Act did not put any restriction whether the investment was

First Global Stockbroking Pvt. Vs. Securities and Exchange Board of In ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : MRTP

used in the said section cannot be construed as "may". Prior to the amendment brought about by the Finance Act, 1987, the legislature in the corresponding section pertaining to imposition of interest used the expression "may." The change brought … that the designation of time must be considered a limitation of the power of the officer." At p. 107 it is pointed out that a statutory direction to private individuals should generally be considered as mandatory and

Rojer Mathew Vs. South Indian Bank Ltd and Ors Chief Manager

Court : Supreme Court of India

Subject : Land Acquisition

CJI1 Leave granted. BRIEF BACKGROUND:2. In the present batch of cases, the constitutionality of Part XIV of the Finance Act, 2017 and of the rules framed in consonance has been assailed. While it would be repetitious to reproduce … passage without the assent of the Rajya Sabha as required under Article 107 renders it ultra vires the legislative scheme contemplated in the Constitution.64. Learned … the High Court of Kerala. The petitioner had originally approached the High Court challenging the constitutional validity of Section 13 (5- A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act,