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Commissioner of Income-tax Vs. Enterprises India

Court : Allahabad

Subject : Direct Taxation

Reported in : [2007]291ITR473(All)

Income-tax Appellate Tribunal was legally justified in holding that the first proviso to Section 43B, inserted by the Finance Act, 1987, with effect from April 1, 1988, was retrospective in operation being clarificatory in nature, and thereby directing to

Mecpro Heavy Engineering Ltd. Vs. Union of India and Others

Court : Delhi

Subject : Excise

Acts : Central Excise & Salt Act, 1944 - Sections 6 and 11A(2); Central Excise Rules, 1944 - Rules 9(1), 49, 52A, 53, 173(B, C, F, G), 174 and 226; Finance (No. 2) Act, 1998 - Sections 87, 88, 89, 90(1) and 95; Narcotics Drugs and Psychotropic Substances Act, 1987; Prevention of Corruption Act, 1988; Prevention of Smuggling Activities Act, 1974; Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992

Reported in : 2001(59)DRJ99; 2001(76)ECC766

of Kar Vivad Samadhan Scheme, 1998 (in short, the Scheme)(Chapter-IV OF Finance (No.2) Act, 1998 (in short, the Finance Act).2. After such declaration there was no scope for any demand as has been done. According to respondents, the … the Indian Penal Code, the Narcotics Drugs and Psychotropic Substances Act, 1985, the Terrorist and Disruptive Activities (Prevention) Act, 1987, or the Prevention of Corruption Act, 1988, has been instituted. (d) In respect of a person against whom … 9(1), 49, 52A, 53, 173B, 173C and 173F, 173G and 226 with Section 6 of the Act. The Commissioner was also of the view that … in Securities) Act, 1992.'6. The expression 'disputed tax' is defined in Section 87(f). Learned counsel for the petitioner urged that it is the disputed tax

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 … in all regions wherever there is litigation instead of only one place.” 87. On 07.05.2018 itself, the following additional issues were also suggested for consideration: … 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,

CanfIn Homes Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2006)103TTJ(Bang.)108

whether the assessee is entitled to deduction under Section 36(1)(viii) on such income.2. The appellant is a housing finance company engaged in the business of housing finance for purchase and/or construction of residential houses. The appellant is … by NHB from time-to-time. As per Section 36 of the NHB Act, provisions of Chapter V of NHB Act, 1987 shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force … (P) Ltd. v. Dy. CIT (2004) 82 TTJ (Del) 259 : (2004) 87 ITD 298 (Del);CIT v. UP State Industrial Development Corporation Ltd. (1997) 139

Gujarat Petrosynthese Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2001)76ITD257(Ahd.)

Section 115J has been introduced by way of an independent Chapter XII-B in the Income-tax Act by the Finance Act, 1987 and it came into force from assessment year 1988-89. While introducing section 115J, the Legislature deleted section 80VVA … Court in Mohit Shantilal Shah v. CIT[2000] 241 ITR 28, while construing the word "determination" occurring in section 87(m) of the Kar Vivad Samadhan Scheme, 1998 referred to the above mentioned judgment of the Supreme Court in

Checkmate Services P Ltd Vs. Commissioner Of Income Tax-i

Court : Supreme Court of India

Subject : Land Acquisition

ground of their maintaining accounts on mercantile or accrual basis and failed to discharge the liability. Consequently, by Finance Act 1987, Section 2(24) (x), and Section 36(1) (va) as well as second proviso to Section 43B were inserted. From that

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 … not be available against the tax as computed under Section 115JB of the Act. The Tribunal held that Section 87 of the Act did not differentiate between the total income computed under the regular provisions or as calculated

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 … not be available against the tax as computed under Section 115JB of the Act. The Tribunal held that Section 87 of the Act did not differentiate between the total income computed under the regular provisions or as calculated

Assistant Commissioner of Vs. Canara Food Processors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)45ITD500(Pune.)

India [1991] 189 ITR 70 was followed for coming to the conclusion that first proviso inserted by the Finance Act, 1987 with effect from 1-4-1988 in Section 43B of the Income-tax Act, 1961 is retrospective and clarificatory in nature.Reliance … the Supreme Court, consisting of 4 Judges, in the case of CIT v. Glllandres Arbuthnot and Co. [1973] 87 ITR 407 (SC) at 408 for the proposition that so far as the primary facts are concerned, it

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