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Salem District Co-operative Milk Producers Union Ltd. Vs. Deputy Commi ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 32A, 32A(2), 32A(4) and 80; Finance Act, 1990; Income Tax Rule - Rules 5AA

Reported in : [2005]274ITR150(Mad)

could not be created. The assessee also wanted to rely upon the amendment to Section 32A(4)(ii) of the Finance Act, 1990, with retrospective effect from April 1, 1976, which is as follows :'an amount equal to seventy-five per cent, … undertaking.'4. The particulars to be furnished under Rule 5AA are the same both for allowance of depreciation under Section 32 and investment allowance under Section 32A of the said Act. It was submitted that the assessee was only

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

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … 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

Commissioner of Income Tax. Vs. M/S. Sarvaraya Textiles Ltd.

Court : Andhra Pradesh

Subject : Income Tax

Acts : Income Tax Act, 1991- Section 256(1), 32A(4),

during a period of eight years next following for the purposes of the business of the undertaking. By Finance Act, 1990 the words "relevant previous year" in Section 34(3)(a) were substituted by the words "any previous year in respect … should have been allowed an opportunity within the meaning of the Explanation to Section 32A(4) of the Act. Section 32-A relates to Investment Allowance and the deduction specified in Section 32-A(1) is available to an assessee if, in

Union of India and Another Etc. Etc. Vs. A. Sanyasi Rao and Other Etc. ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India - Articles 14, 19(1), 32, 136 and 301; Income-tax Act, 1961 - Sections 4, 5 to 9(1), 16(3), 28 to 43C, 44AC and 206C(4); Direct Tax Laws (Amendment) Act, 1989; Finance Act, 1988; Finance Act, 1990; Travancore-Cochin Land Tax Act, 1955; Income Tax Act, 1922 - Sections 12B, 16(3), 23A and 42(5)

Reported in : 1996IIAD(SC)401; AIR1996SC1219; [1996]219ITR330(SC); JT1996(2)SC425; 1996(2)SCALE280; (1996)3SCC465; [1996]2SCR570

the buyer is fixed by or under any State Act; The following explanation is being inserted by the Finance Act, 1990 with effect from 1 April, 1991 :Explanation : - For the purpose of this clause, 'purchase price' means … J.1. In this batch of cases - writ petitions filed under Article 32 of the Constitution of India and civil appeals and special leave petitions … substantially similar questions arise for consideration. The matter arises under the Income Tax Act. 1961. The validity of Section 44AC and 206C of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') is posed for

Assistant Commissioner of Income-tax Vs. Ravi Construction

Court : Gujarat

Subject : Direct Taxation

the CIT(A). In support of his submissions, Mr. Shah placed reliance on the following decisions; CIT v. Alagendran Finance Ltd. [2003] 264 ITR 269/[2004] 136 Taxman 165 (Mad.); CIT v. Mohta Construction Co. [2005] 273 ITR 276 … to be viewed as "block of assets" for the purpose of allowing deduction in respect of depreciation under section 32(1)(ii) of the Income-tax Act, 1961? (2) Is depreciation allowable at the rate of 100% on the centering material

Madhu Silica Private Limited and ors. Vs. State of Gujarat and ors.

Court : Gujarat

Subject : Sales Tax

Acts : Bombay Sales Tax Act, 1959 - Sections 13, 32, 37 and 37(1) and 46(2); Gujarat Sales Tax Act, 1969 - Sections 2(12), 2(33), 2(35), 2(36), 3, 3A, 4, 4(2), 4A, 5, 6, 12, 13, 15, 15A, 15B, 15C, 16, 16(1), 40, 47(4A), 49, 49(2), 50, 51, 55 and 86; Haryana General Sales Tax Act, 1963 - Sections 9, 9(1), 9(2); Kerala General Sales Tax Act, 1963 - Sections 5 and 5A; Tamil Nadu General Sales Tax Act, 1959 - Sections 3, 4, 5 and 7A

Reported in : [1992]85STC258(Guj)

re : A reference under the Government of Ireland Act, 1920, section 51 and section 3 of the Finance Act (Northern Ireland), 1934], : [1965]56ITR198(SC) (Navnit Lal C. Javeri v. K. K. Sen, Appellate Assistant Commissioner of Income-tax). … of the Gujarat Sales Tax Act, 1969, as amended by section 2 of the Gujarat Sales Tax (Amendment) Act, 1990, arises for consideration. It is the contention of the petitioners that the said provision is beyond the legislative … the dealer shall include purchase price of such goods in his turnover of purchases in his return under section 32, which he is to furnish next thereafter.'8. The vires of the aforesaid section 13AA of the Bombay Act

Tips Cassettes and Record Co. Vs. Asstt. Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)76TTJ(Mumbai)396

elaborate discussions on various aspects. It has been found that the provisions of section 35A were introduced by Finance Act, 1966, to allow deduction of expenditure incurred on acquisition of copyrights. Prior to this, the same was allowed … copyright was to be allowed as a revenue expenditure it was withdrawn as a consequence of amendment to section 32 providing depreciation on intangible assets. Consequently the legislature has cautiously retained the treatment of acquisition of copyright in … similar view has been confirmed by the Commissioner (Appeals) for assessment years 1990-91 & 1991-92 by treating the expenditure as capital in nature. The assessee

Mahyco Monsanto Biotech (India) Pvt. Ltd. and Others Vs. THE UNION OF ...

Court : Mumbai

Subject : Service Tax

impregnated seed is a service, and this is liable to be taxed under the relevant provisions of the Finance Act as amended, read with the Rules that pertain to service tax. This is a central levy. The transaction … Schedule C to the Maharashtra Value Added Tax Act, 2002 ( the MVAT Act ); the definitions under Sections 65(105)(zzr), 65(55a) and 65(55b) of the Finance Act, 1994; and sub-clause (c) of Section 66E of the Finance … Confectionary Company Private Limited v State of Andhra Pradesh (2011) 40 VST 327 (AP).do not represent the correct position in law. 31. Mr. Venkatraman urges

Tips Cassettes and Record Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2002)82ITD641(Mum.)

elaborate discussions on various aspects. It has been found that the provisions of Section 35A were introduced by Finance Act, 1966, to allow deduction of expenditure incurred on acquisition of copyrights. Prior to this, the same was allowed … copyright was to be allowed as a revenue expenditure it was withdrawn as a consequence of amendment to Section 32 providing depreciation on intangible assets. Consequently the legislature has cautiously retained the treatment of acquisition of copyright in … A similar view has been confirmed by the CIT(A) for asst. yr. 1990-91 & 1991-92 by treating the expenditure as capital in nature. The assessee

Stumpp Schuele and Somappa Ltd. Vs. Dy. Cwt

Court : Income Tax Appellate Tribunal ITAT

Subject : Land Acquisition

Reported in : (2002)74TTJ(Bang.)253

is includible in the wealth of the company, by virtue of clause (via) of section 40(3) of the Finance Act, 1983, exempting the portion therein under workers canteen and land appurtenant thereto. The old buildings in the 1/2 … by adopting the cost index notified by government to the value determined in 1980-90 (for the assessment years 1990-91 to 1992-93 only).We have heard Shri Parthasarathi, the learned counsel for the assessee and Shri Ramesh, the learned … issue in the case of CIT v. Zaibunnisa Begum (1985) 151 ITR 320 (AP).The learned Departmental Representative, on the other hand, banks upon the order