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Entertainment Electronics (P.) Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (1988)25ITD1a(Hyd.)

word 'manufacture' was not at all defined anywhere in the Income- tax Act. But now by means of Finance Act, 1987 in Explanation (3) of Section 10A(7) the word 'manufacture' is defined as follows : (c) recording of programmes

Commissioner of Income Tax Vs. N. Kannaiyiram.

Court : Chennai

Subject : Direct Taxation

Reported in : (1998)147CTR(Mad)267

he was assessed in the status of the HUF.10. Further, the legislature also amended the provision by the Finance Act, 1987, and by the said amendment, the benefit of exemption is also available to the sale by HUF. In … which the transfer took place, it shall be dealt with in accordance with the following provisions of this section ...'There is no dispute that the assessee was assessed in the status of HUF (non specified). But, the

inspecting Assistant Vs. Ranka Construction (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Land Acquisition

Reported in : (1995)52ITD122(Coch.)

Ltd. [1983] 144 ITR 357 (Pat.); Sri K.R. Prasad, the learned counsel for the assessee contended that the Finance Act, 1987, has amended Section 27 of the IT Act, 1961 and the Finance Minister in his Budget speech to … He relied on the following decisions : (1) CIT v. Union Land & Building Society (P.) Ltd. [1972] 83 ITR 794 (Bom.); and As for the relief granted to the assessee in respect of the square feet

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

Farrukhabad Investment (i) Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2003)85ITD230(Delhi)

the history behind the introduction and schematic rationalisation of the provisions of Chapter XIX-A brought about through the Finance Act, 1987 to hold that in exercising its power under Chapter XIX-A, it has almost unbridled power to arrive at … in the case of Hindustan Steel Ltd. v. State of Orissa (1972) 83 ITR 26 (SC). The learned counsel further referred to various cases on … the assessee arise out of the order of the CIT(A) dt. 18th July, 2000, sustaining the penalty under Section 271D of the IT Act for asst. yrs. 1992-93 to 1995-96, 1997-98 and 1998-99 and against sustaining penalty

Malayala Manorama Co. Ltd. Vs. Commissioner of Income Tax, Trivandrum

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32(2), 32A(3), 33AC(1), 33AC(3), 35, 72(1), 73, 74, 74A(3), 80HHC, 80HHC(3), 80HHC(3A), 80HHD, 80HHD(3), 80J(3), 80VV, 80VVA, 115J, 115J(1), 115J(4), 115J(1A), 115JA and 154; Companies Act, 1956 - Sections 205, 205(1), 205(2), 211(2), 227 and 350; Finance Act, 1983; Finance Act, 1987; Income Tax Rules, 1962; ; ; Finance Act, 1989

Reported in : (2008)216CTR(SC)102; [2008]300ITR251(SC); JT2008(5)SC529; 2008(6)SCALE659; 2008AIRSCW3407

in a later year, if adequate profits are available. Section 80VVA was dropped from the statute by the Finance Act, 1987, with effect from A.Y. 1988-89, when replaced Book Profits Tax by Section 115J of the 1961 Act. But

CADD Centre Vs. Assistant Commissioner of Income-tax, City Circle -II ...

Court : Chennai

Subject : Direct Taxation

capital assets on the dissolution of a firm, body of individuals or other association of persons" by the Finance Act, 1987 with effect from 1-4-1988, would lead to the conclusion that any transaction resulting in distribution on dissolution of … no distribution of Assets, with change in legal status alone, whether there is a "transfer" as contemplated under Section 2(47) and Section 45(4) of the Income Tax Act and whether the Assessee is liable to be taxed, … with licence as a going concern on the specific consideration of Rs. 83.5 lakhs. So much so, in our view, assessment was rightly made for

The Commissioner of Wealth Tax Vs. Smt. Krishna Kapoor L/J of Late Ran ...

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1977 - Sections 5 and 5(1); Taxation Laws (Amendment) Act, 1975 - Sections 83; Finance Act, 1992

Reported in : [2009]180TAXMAN190(Bom)

a contract or by way of inheritance or otherwise;This position continued till it was deleted from 1.4.1976 by Finance Act,1992.5. In the instance case, there is no dispute that Raj Kapoor was the owner of the copyright … for the Assessment Year 1981.82 in Wealth Tax Appeal No. 376 of 1987. The Tribunal has relied upon the said order while passing the order … accrues to him therefrom;4. The Taxation Laws (Amendment) Act, 1975 came into force from 1.4.1976. By virtue of Section 83, proviso to clause (v) was substituted by the following proviso.Provided that they are held by him in his

Phillips India Ltd. (Earlier Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2005)92ITD441(Chd.)

provisions of the Act giving rise to the controversy involved in this appeal. It may be recalled that Finance Act, 1987 incorporated Chapter XIIB in the Income-tax Act, 1961 providing special provisions relating to certain companies for payment of … of the ITAT in the case of Chemplast Sanmar Ltd. v. DCIT, 83 TTJ 427, wherein the issue has been decided in favour of the … involved in this appeal of the assessee is relating to the treatment of set-off of MAT credit Under Section 115JAA and charging of interest Under Sections 234B and 234C of the income-tax Act. 1961 3. The relevant

income Tax Officer Vs. Anil H. Rastogi

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2003)86ITD193(Mum.)

came to the conclusion that even after the amendment, which was brought on the statute book by the Finance Act, 1987, w.e.f. 1st April, 1989, in Section 36(1)(vii), it is still the obligation of the assessee to prove that … observations of the Supreme Court given in the case of CIT v. P.J.Chemicals Ltd. Etc. (1994) 210 ITR 830 (SC), at p. 841 : "On a consideration of the matter the view that commends itself as acceptable