Advanced Search Results

V.M. Salgaocar and Bros. Pvt. Ltd. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India - Articles 133, 136 and 141; Taxation Laws (Amendment) Act, 1984; Finance Act, 1985; Income Tax Act, 1961 - Sections 2(24), 17(2), 36, 40A(2) and 256(2)

Reported in : [2000]243ITR383(SC); JT2000(4)SC473; 2000(3)SCALE240; (2000)5SCC373; [2000]2SCR1169; AIR2000SC1623

of the said Act. These amendments were intended to take effect from April 1, 1985. However, subsequently, the Finance Act, 1985, sought to omit both the aforesaid provisions with effect from the date of their insertion, namely, April … of the directors in the books of the assessee company by applying the provisions of Section 40A(5) and Section 17(2) of the Act. The Income-tax Officer found that the assessee which was a company was borrowing large sums

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 … 2.--In this sub-section,--(a) 'salary' has the meaning assigned to it in Clause (1) read with Clause (3) of Section 17 subject to the following modifications, namely:--(1) in the said Clause (1), the word 'perquisites' occurring in Sub-clause (iv)

Kerala Electricity Officers Federation and ors. Vs. Central Board of D ...

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17, 57, 80C, 87, 88, 88(2), 88A, 88B, 88C, 89, 89(1) and 192; Finance Act, 1990 - Sections 80C, 80C(1), 80C(2) and 88; Provident Fund Act; Income Tax Rules, 1962 - Rules 2, 21A, 21A(1), 21A(2) and 21AA

Reported in : (2005)198CTR(Ker)625; [2005]279ITR482(Ker)

to provident fund, etc. were governed by the provisions contained in Section 80C which section was omitted by Finance Act, 1990 w.e.f. 1st April, 1991 with the insertion of Section 88. What was allowed by way of deduction from … of salary for more than twelve months or a payment which under the provisions of Clause (3) of Section 17 is a profit in lieu of salary, or is in receipt of a sum in the nature of

Saraswati Industrial Syndicate Ltd. Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Bihar Finance Act, 1981 - Sections 17(5); Central Sales Tax Act

quashing the order dated 10.5.90 passed by the respondent No. 3 under Section 17 (5) of the Bihar Finance Act for the assessment year 1.4.1984 to 30.4.1990 as well as for quashing the notice making demand of Rs.

Voltas Limited Vs. the State of Jharkhand and ors.

Court : Jharkhand

Subject : Sales TaxLimitation

Acts : Indian Companies Act, 1913; Bihar Finance Act, 1981 - Sections 12, 13, 17(5), 18, 19(1), 21, 21(1), 24 and 58; Bihar Finance Rule, 1981 - Rule 13A; Rajasthan Sales Tax Act - Sections 5(3); Rajasthan Sales Tax Rule - Rule 29(2); 46th Amendment Constitution of India - Article 366(29A)

Reported in : [2006(3)JCR518(Jhr)]

one place to another and the sale of such air-conditioners is chargeable to sales tax under the Bihar Finance Act, 1981 under Entry No. 116 of the Schedule at the rate of 16%.6. One of the disputes in … as follows:Section 24. Period of limitation for completion of assessment proceeding- Except a proceeding under Sub-section (5) of Section 17, Section 18 and Sub-section (1) of Section 19 no proceeding for assessment of the tax payable by a … 1987-88 W.P.(T)No. 466/05 1988-89Other three writ petitions relate to the assessment years 1990-91 to 1992-93. The petitioner has challenged the orders of remand, as made

Assistant Commissioner of Vs. Canara Food Processors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)45ITD500(Pune.)

assessments. Even after re-opening, the assets brought to tax would have been exempt under Section 40 of the Finance Act, 1983. Revenue is in appeal on the following common grounds, viz. : (1) The order of the CWT … truly all materials necessary for assessment, the wealth chargeable to tax has escaped assessment within the meaning of Section 17(1)(a) of the WT Act. Issue notice under Section 17.The assessee filed returns of wealth in response to notice

Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 2(24), 17, 28, 41, 44, 45, 59, 80HHC, 139(1), 139(3), 143(1A), 143, 144, 147, 160(1), 256(2), 271, 271(1) and 280D; ;Taxation Laws (Amendment) Act, 1975; ;Finance Act, 2002 - Sections 271(1); ;Finance Act, 1993 - Sections 143(1A); ;Constitution of India - Article 141

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

have been concealed or inaccurate particulars have been furnished.'Section 271(1)(c) of the Act has been further amended by Finance Act, 2002, by which Clause (iii) and Expln. 4 has been modified. After the amendment section reads as follows … Haryana High Court in the case of CIT v. Varindra & Co., which related to the asst. yr. 1990-91 followed the earlier decision in the case of CIT v. Prithipal Singh & Co. (supra) and has further … in lieu of salary taxable under Clauses (2) and (3) of Section 17;(iv) the value of any benefit or perquisite, whether convertible into money or

Hero Cycles (P.) Ltd. Vs. Surtax Officer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (1994)49ITD57(Chd.)

Before the amendment, there were divergent judicial pronouncements on this question. But after the amendment introduced by the Finance Act, 1990, the receipt from sale of import entitlement was made taxable with retrospective effect from 1-4-1962. Sections 2(24)(va) and … legal objection that the appeal was not maintainable.It has been pointed out that assessee made an application Under Section 17 of the Act before the Commissioner, seeking reduction of waiver of the amount of surtax. This application was

The Commissioner of Income Tax Vs. M/S. Indo Oceanic Shipping Co. Ltd. ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 5, 6, 9, 17(1), 40A, 40A(5), 2(25A) and 192 ; Finance Act, 1971 - Sections 40A; Taxation Law (Extension to Union Territories) Regulation, 1963; Merchant Shipping Act - Sections 3(18); Finance Act, 1990; Territorial Waters Act, 1976

Reported in : (2001)165CTR(Bom)404; [2001]247ITR247(Bom)

clarified that after the amendment made in section 6 of the Income Tax Act , 1961 by the Finance Act, 1990 with effect from 1.4.1990 an Indian citizen who is the member of a crew of an Indian Ship … of his employment in India (underlining supplied by us). For this purpose, salary was defined as per section 17(1) of the Act. However, limitations of section 40A(5) had no application in cases of payments made to an

Ajay Maken & Ors. Vs.union of India & Ors.

Court : Delhi

Subject : Land Acquisition

College were demolished on 17th November, 1981. The Court discussed the provisions of the Madras City Municipal (Corporation) Act, 1990; the Tamil Nadu Slum Areas (Improvement and Clearance) Act, 1971 and the Tamil Nadu Town and Country Planning … the Supreme Court. The issue before the Supreme Court was whether the invocation of the urgency provisions under Section 17 (4) of the LAA was justified. In answering the question in the affirmative, the Supreme Court discussed the … the land should not be transferred except for a mortgage for raising finances for constructing the tenements.48 48The challenge was on the basis that the