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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

Jagatdal Jute and Industries Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2004)1SOT210(Kol.)

clause (a) or clause (c) or clause (d) or clause (e) or clause (f) was inserted by the Finance Act, 1987, with effect from 1-4-1988, but the same was held retrospective in operation by the Honble Apex Court in … the order dated 4-4-2003 passed by the learned Commissioner (Appeal) in the matter of an assessment made under sections 143(3) and 147 of the Income Tax Act, 1961 (hereinafter referred to as the Act) for the assessment

M/S. Kanjirappilly Amusement Park and Hotels Pvt. Ltd. Vs. Union of In ...

Court : Kerala

Subject : Service Tax

removal of admission and access to entertainment event and amusement facilities [sub-clause (j) of Section 66D of the Finance Act, 1994] from the Negative List of Services by an Amendment of 2012 and the consequent imposition of service … of India, Etc. v. Union of India [(1989) 3 SCC 634] challenged the vires of the Expenditure Tax Act, 1987 [hereinafter referred to as Expenditure Tax Act ], on grounds of lack of legislative competence, which was sought … levy has been upheld as coming under the residuary clause - Entry 97 of List I. connected cases 4. Service tax, as it was in

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

Star Pistons Pvt. Ltd. and anr. Vs. Union of India and ors.

Court : Gujarat

Subject : Excise

Acts : Central Excise Rules, 1944 - Rules 2 and 173-I; Central Excise Act, 1944 - Sections 2, 11A and 35

Reported in : 2000(70)ECC387; (2000)3GLR2184

provided thereunder, there must be a dispute pending between the party and the Department [Section 95(ii)(c) of the Finance Act]. In other words, if in any case where there is no show cause notice pending nor the party … Department holding that Pistons for Motor Vehicle Engines were classifiable under Heading 84.09. That appeal No. E/1881 of 1987 (B1) had arisen out of the Order-in-Appeal dated 26.3.1987 which was passed by the Collector in the petitioners' … Scheme (Removal of Difficulties) Order, 1998 which has been issued under Section 97(1) of the said Act by the Central Government and stated on the

Commissioner of Income-tax, Faridabad Vs. Ghanshyam (Huf)

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(47), 45, 45(1), 45(5), 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G, 54H, 154, 155(7A), 155(16), 260A and 269UA; Transfer of Property Act, 1882 - Sections 53A; Finance Act, 1987; Land Acquisition Act, 1894 - Sections 4, 4(1), 6, 18, 23, 23(1), 23(1A), 23(2), 28 and 34; Finance Act, 1991; Land Acquisition (Amendment) Act, 1984 - Sections 23(1A); Income Tax Act, 1922; Finance Act, 2003 - Sections 45(5) and 155(16)

Reported in : (2009)224CTR(SC)522; [2009]315ITR1(SC); JT2009(9)SC445; 2009(9)SCALE657; (2009)8SCC412; [2009]182TAXMAN368(SC); 2009(6)LC2930(SC)

and deductions therefrom.16. The question which arises for determination is - why was Section 45(5) inserted by the Finance Act, 1987, w.e.f. 1.4.88? Under Section 45(1), profits or gains arising from the transfer of a capital asset effected in

Commissioner of Income Tax Vs. Ankitech Pvt Ltd. and ors.

Court : Delhi

Subject : Income Tax

Acts : Income Tax Act - Sections 2(22)(e), 115JB, 8

2(22)(e) will not apply. 25. The new category of payment which was considered as dividend introduced by the Finance Act, 1987 w.e.f. 1st April, 1988 by the second limb of Section 2(22)(e) is payment "to any concern in which … of India us. Wazir Singh, while dealing with an expression "no such application" in the context of Rule 97 of the Rajasthan High Court Rules, 1952 has held as follows: Generally the word 'such' refers only to

Commissioner of Income Tax Vs. Sharda Kochhar

Court : Delhi

Subject : Land Acquisition

capital gains and deductions therefrom. The question which arises for determination is-why was Section 45(5) inserted by the Finance Act, 1987, w.e.f. 1-41988?. Under Section 45(1), profits or gains arising from the transfer of a capital asset effected in

Humayun Suleman Merchant Vs. The Chief Commissioner of Income Tax, Mum ...

Court : Mumbai

Subject : Direct Taxation

Act. (g) This led to the introduction of sub-section (4) to Section 54F of the Act by the Finance Act, 1987 with effect from 1st April, 1988. Besides introducing sub-section (4) to Section 54F the Finance Act, 1978, also … make it subject to provision of sub-section (4) thereof. (h) As we are concerned with Assessment Year 1996- 97, it is the amended provision which applies. Therefore, now Section 54F(1) of the Act which grants exemption from

Federation of Hotel and Restaurant Association of India, Etc., Vs. Uni ...

Court : Supreme Court of India

Subject : Constitution

Acts : Expenditure Tax Act, 1987 -- Sections 2, 2(1), 2(6), 2(10), 3, 4, 5 and 6; Expenditure Tax Act, 1957; Constitution of India - Articles 13, 14, 19(1), 32, 245, 246, 248 and 265

Reported in : AIR1990SC1637; (1989)77CTR(SC)141; [1989]178ITR97(SC); (1989)3SCC634; [1989]2SCR918; [1989]74STC102(SC); 1990(1)LC157(SC)

one imposing an 'Expenditure-Tax', as known to Law, accepted notions of Public Finance, and to legislative practice but is, in pith and substance, either a … are engaged in, or associated with, the Hotel Industry in India challenge the constitutional validity of the Expenditure-Tax Act, 1987 (Central Act 35 of 1987). The Act envisages a tax at 10 per cent advalorem on 'chargeable-expenditure' incurred … Act and so are proper for provincial legislation may, in another aspect and for another purpose fall within Section 97 and so be proper for Dominion legislation. And as the eases which illustrate the principle show, by 'aspect'