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Commissioner of Income-tax, Bombay Etc. Vs. M/S. Podar Cement Pvt. Ltd ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 22, 24, 27, 56, 64(2), 69(D), 93(2), 94(4), 154, 256, 257 and 288; Finance Act, 1987; Registration Act; Gift Tax Act - Sections 2; Old Income Tax Act - Sections 9 (1); Transfer of Property Act, 1882 - Sections 14, 54, 55 and 269; Pakistan (Administration of Evacuee Property) Ordinance, 1949 - Sections 6(1); Rajasthan Land and Building Tax Act, 1964; Bombay Rents, Hotel and Lodging House Rates Control Act - Sections 29(2)

Reported in : AIR1997SC2523; [1997]226ITR625(SC); JT1997(5)SC529; 1997(4)SCALE271; (1997)5SCC482; [1997]Supp1SCR394

years. A. Y.: 1975-76 Income Tax Act 1961 s.27 Income from house property--DEEMED OWNER--Amendment of s. 27 by Finance Act, 1988 whether clarificatory in nature. Ratio: Amendment introduced by the Finance Act, 1988, in clauses (iii), (iiia) and (iiib) … ORDERK. Venkataswami. J.1. In all these cases the scope of Section 22 of the Income Tax Act, 1961 (hereinafter called the 'Act') arises for consideration.2. Brief facts are necessary … found necessary had provided for avoidance of double taxation expressly like Sections 64(2), 69D, 93(2) and 94(4) but no such express provision was considered necessary

Commissioner of Income Tax Vs. Aditya Chemicals Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(a),2(24), 2(45), 3, 4, 4(1), 5, 6, 14, 22(1), 22(4), 23(1), 23(2), 34(2), 64, 72, 80, 139, 39(1), 139(2), 139(3), 148, 153(1), 260A, 271, 271(2) and 271A ; Finance Act, 2002; Income Tax Act, 1922 - Sections 2 and 28(1); Finance Act, 1988; Finance Act, 1951 - Sections 2(7)

Reported in : (2005)197CTR(Del)241; [2006]283ITR458(Delhi)

260A, 271, 271(2) and 271A ; Finance Act, 2002; Income Tax Act, 1922 - Sections 2 and 28(1); Finance Act, 1988; Finance Act, 1951 - Section 2(7)Cases Referred: Elphinstone Spinning & Weaving Mills Co. Ltd. v. CIT, (1955) 28 … to consider loss as income, the Act specifically stated so. As can be seen from Expln. 2 to Section 64, On the other hand, in Sections 271(1)(c) and 271(1)(iii), nowhere is it stated that income includes loss.'With great

K.M. Vijayan and Others Vs. Union of India and Others

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(7), 2(24), (31) and (45), 3, 4 , 4(1), 5, 6, 7, 8, 9, 10(32), 14, 15, 16, 19(3), 17, 18, 19, 19(1), 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 64(1), 64(1A), 65, 80(L), (U), (CC) and (CCB), 88, 139, 159(6), 162, 171 and 171(1) and (9); Constitution of India - Articles 14 to 19 and 248

Reported in : [1995]215ITR371(Mad)

order or direction declaring the provisions of section 64(1A) of the Income-tax Act, 1961, as amended by the Finance Act, 1992, as illegal, beyond the scope of preventing avoidance of tax and inconsistent with the scheme of the … the Supreme Court has granted stay of the operation of the judgment in S.L.P. Civil No. 4707-4718 of 1988, dated April 25, 1988 - see [1988] 171 ITR 52. This court in K. Krishnaveni v. AAC :

Motisagar Estate (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)47ITD72(Pune.)

income derived from the firm so as to be disallowed under Section 40(b).28. The amendment made by the Finance Act, 1988 to Section 40(3)(vi) of the Finance Act, 1983 was held by the Karnataka High Court in the case … share but also the share of his wife in the loss of the firm. Explanation 2 inserted in Section 64(2) of the Income-tax Act, 1961 with effect from 1-4-1980 though not retrospective in its operation, serves as a

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. … partnership with his wife, or if he admitted his minor children to the benefits of partnership. (Indeed, section 64(1)(iii) of the Income-tax Act, 1961, which no doubt, has been deleted with effect from April 1, 1989, provided

Jodhan Real Estate Development Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Subject : Land Acquisition

Reported in : (1996)56ITD90(JP.)

However, by the time these assessments were completed, Section 4(3) of the Finance Act, 1983 was amended by Finance Act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business … Rs. Rs. Rs. Rs.---------------------------------------------------------------------------1984-85 22,500 25,88,774 39,73,125 25,88,7741985-86 22,500 40,15,482 57,37,500 40,15,4821986-87 32,25,000 1,05,81,875 Set aside1987-88 61,54,000 1,14,63,2501988-89 64,81,000 1,24,40,250---------------------------------------------------------------------------(5) LAND TO THE EAST & WEST OF CIRCUIT HOUSE (8,901 SQ. MTS.) :---------------------------------------------------------------------------Asst. Value Returned Value as

Vasantlal Tulsidas Agrawal Vs. Commissioner of Income-tax

Court : Gujarat

Subject : Direct Taxation

Acts : Finance Act, 1997 - Sections 64(1) and 70

Reported in : [2002]254ITR255(Guj)

Scheme, one was required to tender a form as prescribed under Sub-section (1) of Section 65 of the Finance Act, 1997, a copy of which is produced at exhibit A-1. In Clause 5 of the said form, the … of Rs. 5,00,000 as the amount of income for the assessment years 1988-89 to 1997-98. In Clause 6, the tax payable on the income declared … while writing a letter to the petitioner. For the purpose of convenience, we reproduce here-under Section 70 and Section 64(1)(a), (b) and (c) which are as under (see [1997] 225 ITR 144, 141) :'70. Any amount of tax

Rakesh Tapadia Vs. Dy. Commr. of Income-tax

Court : Income Tax Appellate Tribunal ITAT Indore

Subject : Direct Taxation

Reported in : (2008)113TTJIndore622

The relevant provisions of Voluntary Disclosure of Income Scheme, 1997 are reproduced as under: Chapter IV of The Finance Act, 1997 and the Central Government appoints 1^st day of July 1997 as the date on which the VDIS-97 … Scheme, unless the context otherwise requires,- (a) "declarant" means a person making the declaration under Sub-section (1) of Section 64; (d) all other words and expressions used in this Scheme but not defined and defined in the Income-tax … the order of the CIT(A)-II, Indore, dated 4.1.2001 for the block assessment 1988-89 to 1998-98.2. We have heard the learned representatives of both the parties

indo NissIn Foods Ltd. Vs. Union of India

Court : Karnataka

Subject : Customs

Acts : Central Excise Tariff Act, 1985; Customs Act - Sections 25 and 27

Reported in : 1993(43)ECC174; 1993LC48(Karnataka); 1993(68)ELT292(Kar); ILR1993KAR1548

inapplicable to the levy of auxiliary duty levied under Finance Act, 1990, having regard to the language of Section 64 of the Finance Act, 1990. 5. Three questions arise for our consideration in the wirt petition. They are: … 11-11-1988, and 65/89 dated 1-3- 1989. These notifications were issued under Section 25 of the Act. Under the Finance Act, 1990 an auxiliary duty of customs at the rate of 50% was levied. This was reduced to 5%

Dunlop India Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (1992)41ITD582(Kol.)

amount. In support of this claim the assessee relied on first proviso to Section 43B inserted by the Finance Act, 1987 which, as per decision of the Tribunal in ITO v. K.S. Lokhandwala [1989] 31 ITD 305 (Ahd.) … (f) and (g) of the Petition and the said Stay Order remained in full force till March 7, 1988 when it was modified. The assessee claimed that charging of interest for alleged short-fall in payment of advance … claimed various allowances thereon. The Assessing Officer disallowed a sum of Rs. 64,61,846 out of claim of initial and normal depreciation as per details below:(a)