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Velan Textiles Pvt. Ltd. Vs. Deputy Commissioner of Income-tax (Assess ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 260A; Finance Act, 1990 - Sections 145(1), 145(2), 32A(3) and 32A(4)

Reported in : [2009]312ITR56(KAR); [2009]312ITR56(Karn)

question of law.7. We have accordingly heard the learned Counsel for the parties and perused the record.8. The Finance Act, 1990, had amended Section 32A(4)(ii) of the Act retrospectively from April 1, 1976. It provides that the investment allowance

Commissioner of Income-tax Vs. Kerala State Coir Corporation Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 18A(2), 18A(5), 18A(6), 28, 33A, 44AB, 142(2), 143(1), 143(1A), 143(2), 143(3), 154, 154(1) and 256(1); Income-tax Rules, 1962 - Rule 6D; Finance Act, 1993; Income-tax (Amendment) Act, 1987; Finance Act, 1990; Indian Income-tax (Amendment) Act, 1953; Indian Income-tax Act, 1922 - Sections 35; Constitution of India - Article 226

Reported in : (2001)170CTR(Ker)298; [2001]252ITR503(Ker)

way of cash assistance. Since, Clause (iiib) was inserted in Section 28, though having retrospective operation by the Finance Act, 1990, the assessee did not include this income in its return. The Assessing Officer by his order passed under … S. Sankarasubban, J. 1. This reference is at the instance of the Revenue under Section 256(1) of the Income-tax Act, 1961 (for

Assistant Commissioner of Income Tax Vs. Ambadi Enterprises (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Reported in : (1998)62TTJ(Mad)432

the order of the Commissioner (Appeals) was a negative figure. But due to the retrospective amendment by the Finance Act, 1990, the relief in respect of cash assistance has been withdrawn and, therefore, the total income will become positive … been withdrawn and, therefore, the total income will become positive taxable income. In these circumstances the deduction under section 80HHC and the disallowance of guest house expenses become important for the petitioner because otherwise there will be … ORDERP.K. Bansal, A. M.This appeal of the revenue for the assessment year 1986-87 is directed against the order, dt. 20-6-1989 of the Commissioner (Appeals)-II, Madras.

Deversons Private Limited Vs. Chairman, Central Board of Direct Taxes ...

Court : Gujarat

Subject : Direct Taxation

Acts : Constitution of India - Article 226; Income Tax Act, 1961 - Sections 28, 119(2), 139(1), 143(1), 141(1A), 143(3), 154, 210, 234A, 234B, 234C and 264; Finance Act, 1990 - Sections 28

Reported in : (2004)192CTR(Guj)400; [2005]273ITR414(Guj)

It was only on 16.3.1990 that Finance Bill 1990 was introduced for making Export Cash Assistance taxable and Finance Act 1990 received the assent of the President of India on 31.5.1990. Since the last date for making payment of … dated 31.3.1994 (Annexure 'M') passed by the Commissioner of Income-tax, Gujarat-I, Ahmedabad rejecting the petitioner's revision petition under Section 264 of the Income-tax Act, 1961 ('the Act' for short) and rejecting the petitioner's claim to delete the … rejecting the petitioner's revision petition under Section 264 of the Income-tax Act, 1961 ('the Act' for short) and rejecting the petitioner's claim to delete the

Commissioner of Income Tax Vs. Sidral Food (P) Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A, 32A(1), 32A(2), 32A(4) and 256(1); Finance Act, 1990; Companies Act, 1956

Reported in : (2006)200CTR(Guj)135; [2006]282ITR563(Guj)

Circular No. 305, dt. 12th June, 1981, as well as amendment to Section 32A(4)(ii) of the Act by Finance Act, 1990, with retrospective effect from 1st April, 1976. The Tribunal, therefore, granted investment allowance to the assessee.5. Mr. T.U. … D.A. Mehta, J. 1. The Tribunal, Ahmedabad Bench 'A', has referred the following question under Section 256(1) of the IT Act, 1961

Cawnpore Textiles Ltd. Vs. Commissioner of Income-tax

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10, 17, 28, 35B, 35B(1), 36(1), 40, 40A(5) and 256(1); Finance Act, 1990; Customs and Central Excise Duties Drawback Rules, 1971

Reported in : (2006)200CTR(All)203; [2005]276ITR612(All)

concerned it may be mentioned here that Section 28(iiib) of the Act which has been inserted by the Finance Act, 1990, with effect from April 1, 1967, provides that the case assistance (by whatever name called) received or receivable

Kalyanpur Cement Ltd. Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Bihar Finance Act, 1981 - Sections 58 and 58(1); Bihar Sales Tax Supplementary (Deferment of Tax) Rule, 1990

it.3. The Governor of Bihar in exercise of power under Sub-section (1) of Section 58 of the Bihar Finance Act, 1981 framed the Rules to give effect to the aforesaid Industrial Policy dated August 6, 1989. Clause 3 … declaration that the explanatory note in Clause 3 of the Bihar Sales Tax Supplementary (Deferment of Tax) Rules, 1990 (hereinafter referred to as 'the Rules') explaining the meaning of incremental production, is arbitrary and inconsistent with the

M/s. MRF Ltd., Vs. The Deputy Commissioner of Income-Tax,

Court : Chennai

Subject : Direct Taxation

the receipt of cash assistance as capital receipts, which was subsequently amended to be business receipt by the Finance Act, 1990, it was held that in such cases interest under Sections 234B and 234C was not chargeable. In these … compensatory interest under Section 234C becomes payable. Section 234C is a complete code in itself and proviso to sub-section (1) to Section 234C only provides has two exceptions, when deferment or shortfall in the payment of installment of

Ashirvad Enterprises Vs. the State of Bihar and anr.

Court : Patna

Subject : Sales Tax

C.J.1. The petitioner firm is a small scale industrial unit. It is a registered dealer under the Bihar Finance Act, 1981, and under the Central Sales Tax Act, 1956. In this writ application, the petitioner assails Annexure '5', … conditions of S.O. 123.5. We heard counsel. S. O. No. 123 dated 5-3-1990 is as follows:The 5th March, 1990S.O. 123-In exercise of the powers conferred by Section 22 of the Bihar Finance Act, 1981 (Bihar Act No.

Commissioner of Income Tax, Bhopal Vs. Hindustan Elector Graphites Ltd ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 139, 141A, 142, 143(1), 148, 156, 234, 271(1) and 256; Finance Act, 1990 - Sections 28; Madhya Pradesh General Sales Tax Act, 1958 - Sections 43; Central Sales Tax, 1956 - Sections 9

Reported in : JT2000(3)SC499; 2000(2)SCALE519; (2000)3SCC595; [2000]2SCR506

way of cash assistance. Since Clause (iii)(b) was inserted in Section 28, though having retrospective operation by the Finance Act, 1990, the assessee did not include this income in its return which, as noted above, was filed on December … circumstances of the case, Tribunal was justified in deleting the addition made by the Assessing Officer under Section 143(1)(a) in view of the clear cut provisions of Section 143(1)(a), 143(1A) and 234?2. Respondent, the assessee, filed its