Advanced Search Results

Commissioner of Income-tax Vs. Sharda Gum and Chemicals

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2007)209CTR(Raj)143; [2007]288ITR116(Raj)

made with retrospective effect from April 1, 1962, April 1, 1967, and April 1, 1972, respectively vide the Finance Act, 1990. Perhaps this necessitated the filing of a revised return by the assessee on May 1, 1990, of total … gains of business as per the provisions of the Income-tax Act, 1961, before considering claim of deduction under Chapter VI-A.11. The Revenue was aggrieved with allowing the assessee's claim in respect of receipts from the sale of … by the assessee on May 1, 1990, of total income of Rs. 2,64,860 instead of the return of loss filed earlier.4. Computation of income under

20 Microns Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Land Acquisition

is therefore, clear that the heading 25.05 cannot cover calcine products.2.4 I However, prior to the enactment of finance Act 1990, the Heading 25.05 did not have any sub headings under it. The Finance Act, 1990 introduced sub headings … Clay'. The appellants sought to classify the said calcined China Clay in the declaration filed by them under chapter heading 26.06. The Appellants during the course of adjudication proceedings alternatively claimed classification of the said Calcined China … and agglomerated. The particles are then separated as per required size.2.1 Note 2 to chapter 25 as introduce on 1st March 1986, is reproduced below.

Commissioner of Income-tax Vs. Kerala Financial Corporation Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : [1993]202ITR186(Ker)

v. CIT [1988] 174 ITR 206 besides with reference to the Statement of Objects and Reasons to the Finance Act, 1985. So far as the first ground is concerned, viz., that the decision of the Cambay Electric Supply … the deduction is to be 40% of the total income before making any deduction under Section 36(1)(viii) and Chapter VI-A. The inference attempted to be drawn is that the law was otherwise till April 1, 1985, when … (subsequently reported in CIT v. Kerala State Industrial Development Corporation Ltd. (No. 2) : [1990]182ITR67(Ker) ). The decision in the first of these cases, namely,

Road Masters Industries of India Ltd. Vs. Commissioner of Income Tax

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : [2001]117TAXMAN149(Punj& Har)

to show that the profits of import entitlements were made exigible with retrospective effect from 1-4-1962 by the Finance Act, 1990 and argued that the non-inclusion of Rs. 31,29,819 representing the profits on import entitlements cannot be treated as … the tax is actually paid during the financial year immediately preceding the assessment year under the provisions of Chapter XVII-C falls short of 75 percent of the assessed tax as defined in sub-section (5) of section 215. … estimate of advance tax on 11-6-1981 showing a total income of Rs. 2,17,820. On 15-12-1981, it filed a revised estimate in Form No. 29 showing

Punjab State Industrial Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2007)292ITR268(Chd.)

gross amount of such dividends.15. It may be pertinent to mention that Section 80M was omitted by the Finance Act, 1997 (26 of 1997) w.e.f. 1st April, 1998 in consequence of insertion of Section 10(33) of the IT … in respect of the income out of which deduction is permissible under Chapter VI-A of the IT Act, 1961.6. Relying upon the decision of the … to the dividend income before allowing deduction under Section 36(l)(viii) of the II' Act; in this regard, reference was made to the assessment records. It … dividend is included in the gross total income of the assessee. It was contended that for asst. yrs. 1990-91 to 1992-93 the Tribunal has taken a wrong view in holding that proportionate expenses debited to the P

Arunachal Forests Products Ltd. Vs. Union of India (Uoi)

Court : Guwahati

Subject : Excise

Acts : Central Excise Tariff Act, 1985; Central Excises Act, 1944; Finance Act, 1990; Finance Act, 1992

the period when the relevant entry stood as mentioned above and are covered by the CEGAT judgment.5. The Finance Act, 1990 amended Chapter 44 of the Tariff Act in certain respects. Notes 5 and 6 were renumbered as Notes … that 4410.90 was applicable. This dispute arises in these writ petitions except the six referred to in paragraph 2 supra.6. The 1985 Act was further amended by the Finance Act, 1992. Note 5 of Chapter 44 was

M/S Fibre Boards (P) Ltd Bangaloare Vs. Cit Bangalore.

Court : Supreme Court of India

Subject : Land Acquisition

the new scheme contained in Section 54G. It is true that Section 280Y(d) was only omitted by the Finance Act, 1990 and was not omitted together with Section 280ZA. However, we agree with learned counsel for the appellant that … Dhruv Mehta, learned senior advocate appearing on behalf of the assessee argued before us and pointed out that Chapter XXII-B of the Income Tax Act, prior to 1.4.1988, contained Section 280ZA which when read with the definition … Law and Practice of Income Tax, Kanga and Palkhivala (7th edn., volume II) shows that Section 10(2)(xi) of the 1922 Act is equivalent to Sections

Duncans Industries Limited Vs. Commissioner of Income Tax, W.B.

Court : Kolkata

Subject : Direct Taxation

force during that year and in view of the amendment in sub-section (3) of the 80HHC by the Finance Act, 1990 with effect from April 1, 1991, the Tribunal declined to grant relief to the assessee for the Assessment … follows "80-AB. Where any deduction is required to be made or allowed under any section included in this chapter under the heading "CDeductions in respect of certain incomes" in respect of any income of the nature specified … Assessment Year 1991-92 and thereby dismissing the appeal filed by the assessee. 2. Being dissatisfied, the assessee has come up with the present appeal. The

United Phosphorus Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2002)81ITD553(Ahd.)

such export incentives are of revenue nature and hence taxable, and to end all judicial controversies thereabout, the Finance Act, 1990 has inserted in Section 28 of the Income-tax Act, 1961. - Clause (Hid) read with Section 2(24)(va) (w.r.e.f … to the period from 1-4-1992 to 31-3-1997 in the Compilation and drew our attention to various clauses of Chapter VII dealing with Duty Exemption Scheme. Under the Duty Exemption Scheme, import of raw materials etc. required for … by way of disclosure of significant Accounting Policy as required by Parts II and III of Schedule VI of the Companies Act. The auditors have

Mafatlal Apparel Mfg. Co. Ltd. Vs. Deputy Commissioner of Income Tax.

Court : Mumbai

Subject : Direct Taxation

Reported in : (1998)61TTJ(Mumbai)323

return on 19th July, 1990 and proceeding on the basis of the retrospective amendment brought in by the Finance Act, 1990, added the CCS received to the income of the assessee and sent an intimation. As it was of … of carried forward loss, deduction, allowance or relief. The Court noted the deductions which are dealt with in Chapter VI, ss. 30, 31 et sequitur. The word allowance has been used interchangeably with the word deduction and … . In this case the adjustment sought was the receipt of Rs. 2.25 lakhs to the income of the assessee, the amount received as compensation