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Commissioner of Income-tax Vs. Sumermal Gopichand

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 43B and 139(1); Finance Act, 1987; Finance Act, 1989

Reported in : (1997)138CTR(MP)149; [1997]226ITR456(MP)

year in which the sum is actually paid by him.' 5. Later, a proviso was added by the Finance Act, 1987, with effect from April 1, 1988, to carve out an exception to permit deduction where a sum referred … ITA No. 639/Ind. of 1987, on an application having been made to the Tribunal by the Revenue under Section 256(1 ) of the Income-tax Act, 1961 ;'Whether, on the facts and in the circumstances of the case,

M. Natarajan Vs. State Represented by Inspector of Police, Spe/Cbi/Acb

Court : Chennai

Subject : Criminal

Acts : Finance Act, 1998 - Sections 86, 88, 90, 90(1), 91 and 95; Prevention of Corruption Act, 1988 - Sections 13(1) and 13(2) ; Foreign Exchange Regulation Act, 1973; Narcotic Drugs and Psychotropic Substances Act, 1985; Terrorist and Disruptive Activities (Prevention) Act, 1987; Customs Act, 1962 - Sections 28; Wealth Tax Act, 1957; Gift Tax Act, 1958; Income Tax Act, 1961; Interest Tax Act, 1974; Expenditure Tax Act, 1987; Central Excise Act, 1944; Customs Tariff Act, 1975; Central Excise Tariff Act, 1985; Code of Criminal Procedure (CrPC) - Sections 154, 170, 173, 190, 190(1), 209, 225, 226, 227, 239, 240, 244, 397, 402 and 482; Indian Penal Code (IPC) - Sections 120B, 420, 467 and 471; Constitution of India - Article 227; Finance Rules - Rule 3(1); Kar Vivad Samadhan Scheme Rules, 19

Reported in : 2006(197)ELT476(Mad)

an opportunity of being heard.6. Learned counsel for the petitioner drew my attention to the various provisions of Finance Act 2/98 and more particularly, section 86 in Chapter IV of the special enactment and also to the Kar … 1973), the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), the Terrorist and Disruptive Activities (Prevention) Act, 1987 (28 of 1987), the Prevention of Corruption Act, 1988 (49 of 1988), or for the purpose of enforcement

M. Natarajan Vs. State by Inspector of Police, Spe, Cbi, Acb Chennai

Court : Supreme Court of India

Subject : Criminal

Acts : Indian Penal Code (IPC) - Sections 120B, 420, 467, 468 and 471; Prevention of Corruption Act, 1988 - Sections 13(1) and 13(2); Finance Act, 1998 - Sections 86 to 98; Indirect Tax Act; Direct Tax Act; Conservation of Foreign Exchange And Prevention of Smuggling Activities Act, 1974; Kerala Sales Tax Act; Central Excise Act, 1944; Customs Tariff Act, 1975; Central Excise Tariff Act, 1985; Central Excise Tariff Act, 1986; Code of Criminal Procedure (CrPC) - Sections 239, 245 and 482; Customs Act, 1962 - Sections 28, 90(1), 127H, 132 and 136; Constitution of India - Article 246; Wealth Tax Act, 1957; Gift Tax Act, 1958; Income Tax Act, 1961; Interest Tax Act, 1974; Expenditure Tax Act, 1987

Reported in : (2008)217CTR(SC)1; 2008(120)ECC141; 2008(156)LC141(SC); 2008(226)ELT679(SC); JT2008(6)SC451; 2008(8)SCALE290; (2008)8SCC413; (2008)3SCC(Cri)507.

for clearance of the car, secondly in a scheme, namely, Kar vivad Samadhan Scheme, 1998 (KVSS) floated vide Finance Act No. 2 of 1998 which commenced from 1.9.1998, it was clearly provided that if a tax- payer settles … Act, 1961 (43 of 1961) or the Interest Tax Act, 1974 (45 of 1974) or the Expenditure Tax Act, 1987 (35 of 1987); * * * * * * * * (j) 'indirect tax enactment' means the Customs … The learned Judges noted the various provisions of the Scheme from Sections 86 to 98. It was also noted that FIR in that case was … at the instance of Central Bureau of Investigation, Chennai for offences under Sections 120B read with Section 420, 468, 471 IPC and Section 13(2) read

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2007)107ITD343(Chd.)

actually made a payment towards such liability in that year.There was an amendment in Section 43B by the Finance Act, 1987 which may not be relevant for the purpose of present controversy. Finance Act, 1988 made another amendment in … learned CIT has also placed reliance on Circular No. 550 issued by CBDT on 1st Jan., 1990 [(1990) 86 CTR (St) 45], providing Explanatory Notes on the provisions relating to direct taxes contained in the Finance Act,

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 … be set up to attain them must still retain its basic judicial 86 character and inspire public confidence. Any scheme of decentralisation of administration of … 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,

industrial Packers and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Patna

Subject : Direct Taxation

Reported in : (1995)52ITD1(Pat.)

Section 43B is clarificatory and operative from assessment year 1984-85 retrospectively although the proviso was inserted by the Finance Act, 1987 w.e.f. 1-4-1988. This decision had been followed by the Bombay Bench of the Tribunal in the case of

indo Tech Electric Co. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Land Acquisition

Reported in : (2006)99ITD325(Chennai)

right to manufacture, produce or process any article or thing. This is because the amendment made by the Finance Act, 1997, in Section 55(2) enlarging the scope of a capital asset is structured in such a manner that … Income-tax Act was amended and goodwill was brought into tax with effect from 1-4-1988 by the Finance Act, 1987.13. In the present case, the assessee has transferred the firm as a going concern for a consideration of … of Tribunal in the case of P.L. Chemical Ltd. v.Asstt CIT [2003] 86 ITD 46. Further he relied on the decision of the Mumbai Bench

Smith (inspector of Taxes) Vs. Schofield.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1994]209ITR572(Cal)

in the terms of section 28(1), is 'subject to' the indexation allowance for which provision is made by section 86 and 87 of the Finance Act 1982. These sections were very substantially amended by the Finance Act 1985. … to capital gains tax for the year 1986-87 on the basis that the indexation allowance introduced by the Finance Act, 1982 was to be deducted from the whole of the amount of the gain accruing to the taxpayer … gains--COMPUTATION--Indexation allowance--Quantification--English judgment.Facts :Assets were purchased in 1952 and were disposed in 1987. Scheme of indexation became effective in 1965. The taxpayer was assessed to

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

Commissioner of Income-tax Vs. Bank of Rajasthan Ltd.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax (Amendment) Act, 1986 - Sections 36(1); Income Tax Act, 1961 - Sections 36(1) and (2)

Reported in : [2002]255ITR599(Raj)

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(l)(vii) and Section 36(2) with effect from April 1,1985, inserting a proviso