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The Commissioner of Income Tax Vs. Pudumjee Agro Industries Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32(1), 32AB, 32AB(1), 32AB(2), 32AB(3), 70, 72, 80HHA, 260A and 288(1); Companies Act, 1956; Surtax Act, 1964; Finance Act, 1989

Reported in : (2005)107BOMLR806; (2006)200CTR(Bom)671; [2006]285ITR301(Bom)

set off from the profits of the other eligible business. 16. It is pertinent to note that by Finance Act, 1989 the concept of eligible business and determination of profits of eligible business whose accounts have been maintained separately … after deducting an amount equal to the depreciation computed in accordance with the provisions of Sub-section (1) of Section 32 from the amounts of profits computed in accordance with the requirements of Parts II and III of the

Ram Nath Jindal Vs. Cit

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2001)170CTR(P& H)251

has not been claimed by the assessee. This position is further obvious from the fact that in the Finance Act, 2001, Explnation 5 has been inserted in section 32(1)(ii) with effect from 1-4-2002. It has been inter alia

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

years, in addition eliminated the special advantage for claims in mistake previously introduced by section 24(5) of the Finance Act 1989, delaying the commencement of the limitation period for such claims until the claimants had actually or constructively discovered … FA 2007") to exclude DMG mistake claims, as these provisions purported to curtail the extended limitation period under section 32(1)(c) of the Limitation Act 1980 without notice and without providing any transitional arrangements to protect the right under

Mafatlal Industries Ltd. Vs. Collector C. Ex. and Cus.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Excise

Reported in : (1991)LC65Tri(Mum.)bai

be deemed to be removal. This Notification dated 20-2-1982 was given retrospective effect through Section 51 of the Finance Act, 1982, which received the President's assent on 11-5-82. The retrospective validity of Section 51 of the Finance Act … of Section 11-A of the Central Excises & Salt Act, 1944. The Supreme Court judgment is reported in 1989 (23) ECR 178 (SC) in the case of M/s. J.K, Spinning & Wvg. Mills Ltd. Following the ratio … Spinning & Wvg. Mills Ltd. particularly with reference to paras 30, 31, 32 and 33 thereof and argued that since the cause of action has

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 … that Section 34(1) of the Income-tax Act obliges the Income-tax Officer to allow the deductions referred to in Section 32 only if the prescribed particulars have been furnished. The use of the words 'allowed' and 'allowance' in the

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 … 34(1) of the Income Tax Act, obliges the Income Tax Officer to allow the deductions referred to in section 32 only if the prescribed particulars have been furnished. The use of the words 'allowed and allowance in the

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

Court : Mumbai

Subject : Service Tax

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 … 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. … (2011(23) L.T.R. 341(A.P.)); (d) Bannari Amman Sugars Ltd. Vs. CCE, (2010(250) ELT 326 (Kar); (e) CCE New Delhi Vs. Hindustan Sanitary-ware and Industries Ltd. (2002(145)

Commissioner of Income Tax Vs. M/S Kelvinator of India Ltd.

Court : Delhi

Subject : Direct Taxation

turnover or gross receipts of the business or profession carried on by the assessee. xxxxxxxxx Substituted by the Finance Act, 1989 w.e.f. 1.4.1991 with the following: - “The profit of business or profession of an assessee for the purpose … after deducting an amount equal to the depreciation computed in accordance with the provisions of sub-section (1) of section 32 from the amounts of profits computed in accordance with the requirements of Parts II and III of the

Universal Electrics Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 32(1); ;Electricity Act

Reported in : [1992]196ITR860(Cal)

the same as we have mentioned in Para F of Part I of the First Schedule of the Finance Act, 1965, and similar is the position under Section 80E of the Income-tax Act, 1961. Column A provides the … entitled to initial depreciation in respect of the generators installed at its factories within the meaning of Section 32(1)(vi) of the Income-tax Act, 1961?' Question No. 4 in I. T. Reference No. 42 of 1990 :' Whether,

Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court : Supreme Court of India

Subject : Land Acquisition

The judgment in Surat Art Silk .................................................................................................................. 11 D. Relevant changes brought about to the IT Act, 1961 (Finance Act, 1983 and 1991) ............................... 17 E. The judgment in Thanthi Trust .................................................................................................................. 18 F. Deletion of certain exemptions: … and 23 As amended by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 01.04.1989; Direct Tax Laws (Amendment) Act, 1989, w.e.f. 01.04.1989; substituted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 01.04.1990; and further amended by the … Development Act, 1962 (referred to as “GIDA”) 28 regulations framed under the GIDA, its constituting enactment, further to Section 32(2). As far as GHB is concerned, learned counsel submitted that like the other statutory corporations it was also