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Commissioner of Income-tax Vs. Kerala Electric Lamp Works Ltd. and Cro ...

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 2001; Income Tax Act, 1961 - Sections 32 and 32(1)

Reported in : (2003)183CTR(Ker)182; [2003]261ITR721(Ker)

of the Revenue arose for consideration. The word 'record' has been given a wider interpretation as per the Finance Act, 1989, with effect from June 1, 1988, which amended Section 25(2) of the Wealth-tax Act to the effect that … 1986, with effect from April 1, 1986, it was not necessary for the assessee to furnish the prescribed particulars for claiming depreciation but still there was another implicit condition to be satisfied and that condition was that

Cit Vs. Kerala Electric Lamp Works Ltd.

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]129TAXMAN549(Ker)

of the revenue arose for consideration. The word 'record' has been given a wider interpretation as per the Finance Act, 1989 with effect from 1-6-1988 which amended section 25(2) of the Wealth Tax Act to the effect that 'record … Provisions) Act, 1986 with effect from 1-4-1986, it was not necessary for the assessee to furnish the prescribed particulars for claiming depreciation but still there was other implicit condition to be satisfied and that condition was that

Commissioner of Income-tax Vs. Achaldas Dhanraj and Sanklecha Brothers

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 43B; Sales Tax Act; Finance Act, 1987

Reported in : (1995)128CTR(Raj)325; [1996]217ITR799(Raj)

fee, by whatever name called' were inserted in Clause (a) with effect from April 1, 1989. By the Finance Act, 1989, Explanation 2 was added retrospectively from April 1, 1984, which read as under :'For the purpose of Clause … by paying sales tax. The amount of sales tax even though shown separately in the transaction is a part of the consideration which the seller charges on the transfer of property. Another decision of the Supreme Court

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

Sixth Schedule to the Companies Act, 1956 (1 of 1956), as increased by-- . .' 11. By the Finance Act, 1989, the words 'prepared in accordance with the provisions of Parts II and III of the Sixth Schedule to … S.N. Jha, J. 1. These writ petitions involving common questions of law and between the same parties have been heard together. 2. The dispute arises from the rectification of the so-called apparent mistake in the

Mitsui and Company Ltd. Vs. Deputy Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Reported in : (1999)65TTJ(Del)1

Explanationn in section 9(ii) of the Income Tax Act, 1961, with effect from 1st April, 1979 by the Finance Act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services … the appeals preferred by the assessees against the common order of the Commissioner (Appeals) for the financial years 1989-90 to 1994-95 confirming the penalties levied under section 271C of the Income Tax Act, 1961. Since the facts … to 16 expatriate employees on 27th Oct., 1995, requiring them to furnish particulars of their salary and other income received from the company. There being … the financial years 1989-90 to 1994-95 confirming the penalties levied under section 271C of the Income Tax Act, 1961. Since the facts are common, these

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

v. Collector of Central Excise, Calcutta 1994 (74) ELT 22 59Collector of Central Excise v. Ambalal Sarabhai Enterprises, 1989 (43) ELT 214 60.Union Carbide India Ltd. v. Union of India and Ors. (1986) 2 SCC 547 61. … amount of Rs.2,04,39,093/- under provisions of Rule 14 of the Credit Rules read with Section 73 of the Finance Act,1994. In respect of towers and parts thereof, prefabricated building, printers and office chairs, the Commissioner observed that the … the Appellant was not entitled to credit of duty paid on tower parts, green shelter, printers and office chairs ? 2. Whether in the facts

Sutlej Cotton Mills Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (1993)45ITD22(Kol.)

years. (Clauses 40 and 43)." 40. There was an amendment in Section 115J by Section 19 of the Finance Act, 1989 [1989] 177 ITR (St.) 180, as follows : " 19. Amendment of Section 115J --In Section 115J of … the provisions of Section 255(5) were clear that such a Bench could be constituted to take up a particular case.Reference was also made to the order of the Tribunal in the stay petition in this case and … Bench constituted by the President of the Income-tax Appellate Tribunal under Section 255(5) of the Income-tax Act, 1961. When the Bench assembled on September 8,

J. Thomas and Co. (P) Ltd. Vs. Commissioner of Income Tax

Court : Kolkata

Subject : Direct Taxation

Acts : Companies Act, 1956; ;Finance Act, 1989; ;Finance Act, 1990; ;Income Tax Act, 1961 - Sections 14, 32AB, 32AB(1), 32AB(3), 32AB(5), 115J and 115JA

Reported in : (2005)195CTR(Cal)230,[2005]275ITR467(Cal)

reference thereto ?(b) Whether the petitioner can be considered as a trading company within the meaning of the Finance Act, 1989, and Finance Act, 1990 ?'1.1. These appeals arise out of a common judgment of the learned Tribunal covering … way of dividends, interest on securities, property income, which is treated as business income under the provisions of Parts II and III of Schedule VI to the Companies Act, 1956, is to be excluded and deduction under … the relevant assessment years, since these activities were carried on at least 20 years to 5 years' before the relevant assessment years. There is no

Sudarshan Chemical Industries Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1997)60ITD629(Pune.)

Companies Act, 1956." This provision was not on the statute originally. It was enacted later on by the Finance Act, 1989 with effect from 1-4-1989. Therefore, it is necessary to decide this issue keeping in view the intention of … the learned counsel for the assessee is that though generally, the sales-tax and excise duty are treated as part of the turnover, yet, the meaning of the word 'turnover' has to be seen in the context in … Court in the case of CIT v. East India Hotels Ltd. [1994] 207 ITR 881, Gujarat High Court decision in the case of CIT v.

Nippon Denro Ispat Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (1998)67ITD205(Kol.)

the provisions of Parts II and III of the Sixth Schedule to the Companies Act, 1956". By the Finance Act, 1989 w.e.f.1-4-1989, sub-section (1A) was inserted which reads as under : "Every assessee, being a company, shall, for the … different method would be of the character of reserve which need be added to the profit as per Part III of Schedule VI of the Companies Act. He, therefore, did not accept the method followed by the … method followed by the assessee in respect of the period falling after 2-4-1987, inasmuch as, depreciation rate under the Companies Act under straight line method