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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 … Assessment years 1988-89 1989-90 1990-91Depreciation at the I.T. Rules was Previous yearsnot allowed in the assessment years 31-12-1987 88-89 89-90 1988-89 to 1990-91 in quantifying the total income of the assessee chargeable to tax on the basis

Hira Lal Hari Lal Bhagwati Vs. C.B.i., New Delhi

Court : Supreme Court of India

Subject : CustomsCriminal

Acts : Code of Criminal Procedure (CrPC) - Sections 245 and 482; Constitution of India - Article 227; Indian Penal Code (IPC), 1860 - Sections 120B, 166 to 177 and 378 to 462; Customs Act, 1962 - Sections 28, 111, 112A and 130E; Finance (No. 2) Act, 1998 - Sections 90(2), 90(4) and 91; 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; Foreign Exchange Regulation Act, 1973; Narcotic Drugs and Psychotropic Substances Act, 1985; Terrorists and Disruptive Activities (Prevention) Act, 1987; Prevention of Corruption Act, 1988

Reported in : AIR2003SC2545; 2003(2)ALD(Cri)292; 2003(2)ALT(Cri)142; 2003(51)BLJR1697; 2003CriLJ3041; 2003(3)CTC356; (2003)182CTR(SC)1; 104(2003)DLT699(SC); 2003(87)ECC473; 2003(155)ELT4; (2003) 5 SCC 257

for meeting the cost for the matching out the purchaseof procuring such finance the said machines may be mortgaged orleased to leasing company or financial … 1958) or the Income-tax Act, 1961(43 of 1961) or the Interest-tax Act, 1974 (45 of 1974) or theExpenditure-tax Act, 1987 (35 of 1987).'16. Sub-clause (j) of Section 87 defines 'indirect tax enactment' which readthus:'indirect tax enactment' means Customs … provisions of any indirecttax enactment has been instituted on or before the date of filing of the declarationunder Section 88, in respect of any tax arrear in respect of such case under suchindirect tax enactment, this Scheme shall

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 … few provisions need to be noted in the background of the object which led to introduction of the Scheme.Section 88 provides for settlement of tax payable. Section 89 provides for particulars to be furnished in a declaration under

State of Kerala Vs. Alex George and anr. Etc.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Kerala Finance Act, 1987 - Sections 1(2) and 3(2); Kerala Plantations Tax Act, 1960 - Sections 2(9), 3, 3(1), 3(3), 4(2), 5, 6A, 8, 9, 9A, 13, 14 and 27; State Finance Act, 1987; Kerala Plantations (Additional Tax) Rules, 1960 - Rule 16; Kerala Plantations (Additional Tax) Amendment Act, 1967; Kerala General Sales Tax Act, 1963; Kerala Motor Vehicles Taxation Act, 1976; Central Excise Act, 1944

Reported in : (2004)192CTR(SC)581; [2004]271ITR290(SC); JT2004(10)SC104; 2005(1)KLT164(SC); 2004(9)SCALE545; (2005)1SCC299

the result, the appeals fail and are dismissed, with no order as to costs. Direct Taxation - Kerala Finance Act, 1987 - Sections 1(2), 3(2) - Kerala Plantations Tax Act, 1960 - Sections 2(9), 3, 3(1), 3(3), 4(2), 5, … of the Kerala High Court dated 28.8.1998 raises the question as to the true scope and operation of Section 1(2) of the Kerala Finance Act, 18 of 1987 substituting Schedule-I to the Kerala Plantations Tax Act 1960

Joint Commissioner of Income-tax Vs. Montgomery Emerging Markets Fund

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)100ITD217(Mum.)

The source will be the asset itself. The CIT(A) further referred to the amendment brought in by the Finance Act, 1987 (No. 2 of 1987) with effect from 1 -4-1988. According to the CIT(A), as per the said amendment, … Mumbai passed on 23-11 -1998 and 12-2-2000, respectively. The appeals do arise out of the assessments completed under Section 143(3) of the Income-tax Act, 1961.2. These two appeals are placed before this Special Bench to consider and

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 … customs duty. Thus, according to Rule 3(1)(b) of the Rules, 3rd accused filed declaration in Form -1B, under section 88 of the said Act. On 27.02.1998, the customs Department issued Certificate of Intimation under section 90(1) of the

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 … 88C, 88D and 88E, the deductions specified in those sections. (2) The aggregate amount of the deductions under section 88 or section 88A or section 88B or section 88C or section 88D or section 88E shall not, in

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 … 88C, 88D and 88E, the deductions specified in those sections. (2) The aggregate amount of the deductions under section 88 or section 88A or section 88B or section 88C or section 88D or section 88E shall not, in

Harrisons Malayalam Ltd. and ors. Vs. State of Kerala and ors.

Court : Kerala

Subject : Direct Taxation

Reported in : (1998)150CTR(Ker)564

K. K. USHA, J.The common issue involved in these cases is whether the amendment introduced by the Kerila Finance Act, 1987, to the Kerala Plantation Tax Act, 1960, would be applicable to the assessment for the year 1987-88 under … additional tax on plantations in the State of Kerafa. Sec. 3 of the Act which is the charging section, reads as follows:'3. Charge of plantation tax:-(1) Subject to the other provisions contained in this Act, for every

Bhagavathy Tea Estates Ltd. and ors. Vs. State of Kerala and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Kerala Plantation Tax Act, 1960; Kerala Finance Act, 1987 - Sections 3; Finance Act, 1987

Reported in : [1989]179ITR508(Ker)

of the area with reference to the date as April 1, 1987. The imposition of tariff by the Finance Act 1987 obligates imposition of the Schedule, as provided in the Finance Act of 1987, for the computation of the … to the Subject Committee on August 10, 1987. The Subject Committee deliberated over the proposals of the Bill. Section 3 of the amendment bill proposed to amend the Kerala Plantation Tax Act, 1960, by substituting a new