Advanced Search Results

Mrs. Catherine Thomas Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2008)116TTJ(Coch.)797

following submissions : It was argued that the legislature while inserting Sub-section (5) in Section 45 through the Finance Act, 1987 w.e.f. 1st April, 1988 did not provide for cases where enhanced compensation was reduced by any Court, Tribunal

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

Catherine Thomas Vs. Dy. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 45 and 45(5), ;Finance Act, 1987; ;Finance Act, 2003; ;Constitution of India - Article 226

Reported in : 2010(1)KLT300

(5)(c) of Section 45 of the Act. Eventhough Section 45(5) with Sub-clauses (a) and (b) was introduced by Finance Act, 1987 and Clause (c) was introduced only in 2003, the Tribunal took the view that Clause (c), the protective

Smith (inspector of Taxes) Vs. Schofield.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1994]209ITR572(Cal)

-apportionment basis. As regards disposals after the latter date the law has been changed again. By virtue of section 96 of the Finance Act 1988 the general rule now is that all assets held on 31 March 1982 … 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

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

to be amended by Finance Act, 1986, with effect from 01.04.1987 by 96 inserting sub section (4). It was inserted to provide that no deduction … Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by Finance Act , 1986 Section115BB has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races … any sort as per Sec. 194B of the Income Tax Act and consequently hold that the provisions of section 194B are not applicable to the petitioners. W.P.NO.6674/2013 BETWEEN: M/s Mysore Race Club Limited A company incorporated under

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 … 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

Director of Income Tax (international) Taxation Vs. Oman International ...

Court : Mumbai

Subject : Direct Taxation

Acts : Direct Tax Laws (Amendment) Act, 1987 - Sections 28, 36, 36(1) and 36(2); Finance Act, 2001

Reported in : 2009(5)BomCR416; (2009)223CTR(Bom)382; [2009]313ITR128(Bom); [2009]184TAXMAN314(Bom)

thereof exceeds the credit balance in the provision for bad and doubtful debts account made under that clause.The Finance Act, 2001 inserted the following Explanation after the proviso to Section 36(1(vii):Explanation - For the purposes of this clause, … effect from 1st April, 1989. A circular was issued explaining the provisions of the Direct Tax Laws (Amendment) Act, 1987 by which the provisions of Section 36 were amended. Now the deduction is allowable in the year in

The Dy. Commissioner of Vs. Shri Bhim Singh Lather

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2006)282ITR151(Delhi)

the assessee or to the Revenue to make a departure there from, but from Asst. Year 1988-89, the Finance Act, 1987 made a part of the consideration received on transfer of capital asset chargeable on receipt basis if it … was deducted in that year.6. For the Asst. Years 1994-95 and 1995-96, the Assessing Officer issued notices Under Section 148 on 11th December, 1996 in response to which the assessee declared total income of Rs.56,026/- for Asst.

Sahara India Savings and Investment Corporation. Ltd. Vs. Asstt. Cit

Court : Allahabad

Subject : Direct Taxation

Reported in : [2001]79ITD56(NULL)

Banking Company was included in definition of the Financial Company in section 2(5B) by inserting clauses (va) by Finance Act of 1992 w.e.f. 1-4-1993. The explanatory memorandum to the Act in Paragraphs 55.3 to 55.5 stated as under … to be considered :(a) The Appellant Company is Residuary Non Banking Company and as per the R.N.B.C. Directions, 1987, section which provides mandatorily that every R.N.B.C. Company shall invest and include in accordance with the provisions of said

Shri Shetty G.D. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2008)112ITD103(Pune.)

authority in respect of the property.Clause (iii), (iiia) and (iiib) to Section 27(1) has been inserted by the Finance Act, 1987 with effect from 1.4.1988.6.5. The word and phrase "owner" in the context of Section 22 of the Income-tax