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Makers Development Services Ltd. Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1992)40ITD185(Mum.)

the amalgamated company for the years 1981-82 and 1985-86 mainly relying on the new provisions inserted by the Finance Act, 1988, in the form of Section 43C w.e.f. 1-4-1988.Such provisions are totally not available to the assessee. An objection

Union of India and Another Etc. Etc. Vs. A. Sanyasi Rao and Other Etc. ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India - Articles 14, 19(1), 32, 136 and 301; Income-tax Act, 1961 - Sections 4, 5 to 9(1), 16(3), 28 to 43C, 44AC and 206C(4); Direct Tax Laws (Amendment) Act, 1989; Finance Act, 1988; Finance Act, 1990; Travancore-Cochin Land Tax Act, 1955; Income Tax Act, 1922 - Sections 12B, 16(3), 23A and 42(5)

Reported in : 1996IIAD(SC)401; AIR1996SC1219; [1996]219ITR330(SC); JT1996(2)SC425; 1996(2)SCALE280; (1996)3SCC465; [1996]2SCR570

Tax Laws (Amendment) Act. 1989 with effect from 1.4.1989. Section 206C of the Act was inserted by the Finance Act, 1988 with effect from 1.6.1988. The above sections are re-produced herein below :44AC. Special provision for computing profits and … that it is only an adjunct to Section 206C and so read, the relief under Section 28 to Section 43C will be available.The facts highlighted in the second case is writ petition (civil No. 155 of 1989. There

State of Rajasthan and anr. Vs. Rajasthan Chemists Association

Court : Supreme Court of India

Subject : Sales TaxConstitution

Acts : Sales of Goods Act, 1930 - Sections 3, 4 and 9; Rajasthan Sales Tax Act, 1994 - Sections 2(42), 2(44) and 4A; Finance Act, 2004 - Sections 4A and 4A(1); Standards of Weights and Measures Act, 1976; Standards of weights and Measures Rules; Constitution of India - Articles 246, 286 and 366(29A); ;Constitution of India (42nd Amendment) Act, 1982 - Article 366; Constitution of India (46nd Amendment) Act; Drug Price Control Order, 1995; Essential Commodities Act, 1955 - Sections 3; Uttar Pradesh Sales Tax Act, 1948 - Sections 2; Contract Act - Sections 77; Income Tax Act, 1961 - Sections 28 to 43C, 44AC, 44AC(1) and 206C; Direct Tax Laws (Amendment) Act, 1989; Finance Act, 1988; Finance Act, 1990 - Sections 44AC; Madras General Sales Tax Act, 1939 - Sections 2; Madras General Sales T

Reported in : AIR2006SC2699; 2006(202)ELT217(SC); JT2006(6)SC553; RLW2006(4)SC3365; 2006(7)SCALE330; (2006)6SCC773; [2006]147STC542(SC); 2006(2)LC975(SC)

the Direct Tax Laws (Amendment) Act, 1989 w.e.f. 1.4.1989. Section 206C was inserted in the said Act by Finance Act, 1988 w.e.f. 1.4. 1988. Explanation to Section 44AC was inserted by Finance Act, 1990 w.e.f. 1.4.1991. These provisions enabled … all other cases only the real income to be computed in accordance with provision of Section 28 to Section 43C. This Court noted that one of the contentions raised in the petition was that 'tax is levied on

Saini and Co. Vs. Union of India

Court : Himachal Pradesh

Subject : Direct Taxation

Reported in : [2001]113TAXMAN55(NULL)

to collection of tax at source does not apply to them.4. As stated in the petition, by the Finance Act, 1988, certain amendments were introduced in the Act. Section 44AC of the Act came to be inserted with effect … from the business of trading in certain goods.-(1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an assessee, being a person other than a public sector company (hereinafter referred to

Saini and Co. and ors. Vs. Union of India (Uoi) and ors.

Court : Himachal Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 44AC and 206C; ;Income Tax (Amendment) Act, 1993

Reported in : [2000]246ITR762(HP)

to collection of tax at source does not apply to them.4. As stated in the petition, by the Finance Act, 1988, certain amendments were introduced in the Income-tax Act, 1961. Section 44AC came to be inserted with effect from … from the business of trading in certain goods--(1) Notwithstanding anything to the contrary contained in Sections 28 to 43C, in the case of an assessee, being a person other than a public sector company (hereafter in this

A. Sanyasi Rao and anr. Vs. Government of Andhra Pradesh and ors.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 4, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 43A, 43B, 43C, 44, 44B, 44C, 44D, 44AC, 44AC(1), 44BB, 44BBA, 64(1), 115A, 119, 138, 143, 206, 206C, 206C(1), 206C(4), 208C, 276BB and 293; Constitution of India - Articles 14 and 19(1)

Reported in : (1989)77CTR(AP)40; [1989]178ITR31(AP)

Income-tax Act, 1961, is challenged in this batch of writ petitions. These two sections were inserted by the Finance Act, 1988. Section 206C was given effect to on and from June 1, 1988, and section 44AC from April 1, 1989. … business of trading in certain goods. - (1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an assessee being a person other than a public sector company (hereafter in this

Sarkaghat Wine Traders Vs. Income Tax Officer. (Also

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (1996)56TTJ(Chd.)252

goods obtained under or in pursuance of the sale under sub-s. (1)." Sec. 44AC was enacted by the Finance Act, 1988, w.e.f. 1st April, 1989, and was subsequently omitted by the Finance Act, 1992, w.e.f. 1st April, 1993. Sec. … calculate the income in accordance with the provisions of ss. 28 to 43C of the IT Act. It was noticed that the details of salary … constitutionality of s. 44AC and s. 206C was under attack. It was held that none of the two sections offended Arts. 14 and 19(1)(g) of the Constitution. It was observed by the Court that for the sake

Sarkaghat Wine Traders Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (1996)57ITD385(Chd.)

any goods obtained under or in pursuance of the sale under Sub-section (1).Section 44AC was enacted by the Finance Act, 1988 w.e.f. 1-4-1989 and was subsequently omitted by the Finance Act, 1992 w.e.f. 1-4-1993.Section 206C was also enacted by … attracted. It was not possible to calculate the income in accordance with the provisions of Sections 28 to 43C of the Income-tax Act. It was noticed that the details of salary paid by the assessee were not

Bhagwan Singh and Others Vs. Union of India and Others.

Court : Patna

Subject : Direct Taxation

PLJR 80 this court held as follows :"Section 44AC and 206C were inserted in the Act by the Finance Act, 1988. Under section 44AC, the Legislature had devised a notion of presumptive income, i.e., income deemed to accrue by … the business of trading in certain goods. -(1) Notwithstanding anything to the contrary contained in sections 28 to 43C, in the case of an assessee, being a person other than a public sector company (hereafter in this

Bhagwan Singh and ors. Vs. Union of India (Uoi) and ors.

Court : Patna

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 44AC, 185 and 206C; Constitution of India - Article 226

80 this court held as follows : 'Sections 44AC and 206C were inserted in the Act by the Finance Act, 1988. Under Section 44AC, the Legislature had devised a notion of presumptive income, i.e., income deemed to accrue by … from the business of trading in certain goods.-(1) Notwithstanding anything to the contrary contained in Sections 28 to 43C, in the case of an assessee, being a person other than a public sector company (hereafter in this