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Suryalatha Spinning Mills Ltd. and anr. and Suryavanshi Finance and In ...

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 32(2), 32A, 33AC, 72, 73, 74, 74A, 80J, 80HHC, 80HHD, 80VVA, 115J, 115J(1), 115J(1A) and 115J(2)

Reported in : [1997]223ITR713(AP); [1997]93TAXMAN310(AP)

net profit of Rs. 274 crores showed no tax liability. So after conducting a careful study, by the Finance Act, 1987, section 80VVA was deleted and section 115J was introduced by way of an independent Chapter XII-B in the Income-tax

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 per I.T. Rules Rs. Rs. Rs.(I.T. Depreciation) 4181597 6557323 5994255Less : Depreciation debited inthe book (Book Depreciation) 919128 1823992 2710843 ------- ------- -------Balance not allowed 3262469 4733331 3283412 ------- ------- ------- Referring to the third illustration,

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 … has recognised that transfer of jurisdiction is permissible but in effecting such 91 transfer, the court to which the power of adjudication is transferred must … 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,

Parikh Engineering and Body Building Co. Ltd. and anr. Vs. Union of In ...

Court : Patna

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32(1), 115J, 143, 143(1), 143(3) and 154; Companies Act, 1956

the avowed object of bringing zero-tax prosperous companies within the taxable net, Section 115J was enacted by the Finance Act, 1987. The section as it originally stood and so far as relevant, was as follows : '(1) Notwithstanding anything

The Commissioner of Income-tax Vs. Pooshya Exports (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 32A, 43B, 80HHC and 80HHC(2); Finance Act, 1991

Reported in : [2003]262ITR417(Mad)

to be remedied has not been achieved. To obviate the same first proviso was added to Section 43B Finance Act 1987. The proviso made it clear that the section will not apply in relation to any sum which is

Mahanadi Coalfields Ltd. and anr. Vs. State of Orissa and ors.

Court : Orissa

Subject : Other Taxes

Acts : Orissa Rural Employment, Education and Production Act, 1992; Constitution of India - Articles 14 and 285; Mines and Minerals (Regulation and Development) Act, 1957 - Sections 9A; Orissa Cess Act - Sections 2; Coal-bearing Areas (Acquisitiion and Development) Act, 1957 - Sections 10, 11 and 11(1); Sale of Goods Act, 1930 - Sections 64A

Reported in : AIR1994Ori258; 1995(I)OLR544

India, AIR 1990 SC 2114, when validity of Section 10(10C) of the Income-tax Act, as introduced by the Finance Act, 1987, had been challenged, their Lordships held (at p. 2119 of AIR) :--'For determining the purpose or object of … the Provincial Legislature had passed the legislation in question. What was contended before the Court was that by Section 91, Subsection (25), the Dominion Parliament has the exclusive legislative authority over aliens and, therefore, by enacting the impugned

Sati Oil Udyog Ltd. and anr. Vs. Commissioner of Income-tax and ors.

Court : Guwahati

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80, 143(1A), 246 and 264; Constitution of India - Articles 14, 19 and 226; Finance Act, 1993

assessee had a loss and did not have income liable to tax under the Act. Thereafter, by the Finance Act, 1993, the said Clause (a) of Sub-section (1A) of Section 143 of the Act was substituted with effect … 1993, and the legislative history of Section 143 as it now stands. By the Direct Tax Laws (Amendment) Act, ' 1987, Section 143 of the Act was substituted and Sub-section (1) of the substituted Section 143 provided for a … case of Modi Cement Ltd. v. Union of India [1992] 193 ITR 91 and by other courts in other cases. In this order dated December

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 … 5[b]). this certificate has been issued forfull and final settlement of tax arrears under Section 90(2) read with Section 91 of theFinance (No. 2) Act, 1998 in respect of Kar Vivad Samadhan Scheme, 1998. Beforeissuing the certificate, the

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 … petitioner in excluding him from availing the benefits of the Scheme, then it was argued that as per section 91 of the said Act, there is immunity of prosecution available in favour of the petitioner. It was further

Nava Bharat Ferro Alloys Ltd. Vs. Union of India (Uoi)

Court : Andhra Pradesh

Subject : Service Tax

Acts : Finance Act, 2000 - Sections 65(7), 65(18A), 65(18B), 65(48), 116 and 117; Finance Act, 1997; Finance Act, 1994 - Sections 65, 66 68, 70, 71A and 94; Finance Act, 2003 - Sections 68, 68(1), 69, 70, 71 and 71A; Assam Taxation (On Goods Carried by Road or on Inland Waterways) Act; Central Tea Act - Sections 3(1) and 3(2); Motor Vehicles Act, 1939 - Sections 43, 43(1), 43(1A) and 44; Rajasthan Passengers and Goods Taxation Act, 1959 - Sections 3 and 4; Karnataka Entertainments Tax Act, 1958 - Sections 2; Expenditure Tax Act, 1987; British North America Act, 1867 - Sections 91 and 92; Finance Act, 1998 - Sections 65, 65(16), 65(17), 65(41) and 66(3); Motor Vehicles Act, 1988 - Sections 2; Finance Act, 1997 - Sections 84; Service Tax Rules, 1994 - Rule 2 and 2(1); Service Tax (Amendm

Reported in : (2005)186CTR(AP)451; 2005(185)ELT236(AP); 2006[3]STR565

of service tax by users of clearing and forwarding agents service and users of goods transport service. By Finance Act, 2000, the Parliament amended the provisions for the limited period of 16.7.1997 to 16.10.1998 to enable collection of … is a judgment of Constitutional Bench of Five Judges. Challenge in this case was to the Expenditure Tax Act, 1987, which envisaged a tax at 10% ad volerm on chargeable expenditure incurred in the class of hotels wherein … AC 580 Lord Haldane said : 'It is remarkable the way this Board has reconciled the provisions of Section 91 and Section 92, by recognizing that the subjects which fall within Section 91 in one aspect, may, under