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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 … originally on account of interest. After the amendment Act was passed, the Income-tax Officer exercised his power under Section 35 of the Indian Income-tax Act, 1922, and rectified the mistake in the order of assessment and demanded repayment

Gadore Tools Pvt. Ltd., New Delhi Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 35-B and 256; Finance Act, 1990

Reported in : (2000)161CTR(Del)472

favor of the Revenue in view of the amendments incorporated in the Income Tax Act, 1961 by the Finance Act, 1990. Finance Act, 1990 incorporated clause (iiib) to Section 28 of the Income Tax Act, 1961 with effect from … upheld the Commissioner of Income Tax (A) order that the assessed was entitled to weighted deduction under Section 35B of the Act on commission of Rs.12,10,893/- as export sales? 5. Whether the Tribunal was right in rejecting

Assistant Commissioner of Income Vs. Apsara Processors (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)92TTJ(Ahd.)645

is loss having regard to the amendment made by the Taxation Laws (Amendment) Act, 1975, and by the Finance Act, 2002 ?" 2. The facts which are common in all the cases are that all the assessees have … 263 ITR 658 (SC) affirming its earlier stand in the case of Supreme Court Employees' Welfare Association AIR 1990 SC 334, that a summary dismissal without laying down any law, is not a declaration of law. (iii) … the consideration of Special Bench : "Whether penalty can be levied Under Section 271(1)(c) in cases where the assessed income is loss having regard to … of the Revenue is dismissed by their Lordships vide Tax Appeal No. 358 of 2001, order dt. 28th Dec, 2001. That the Supreme Court dismissed

Gujarat Alkalies and Chemicals Ltd. Vs. Joint Commissioner of Income T ...

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

a view to provide incentive to exports. This section has thereafter been amended from time to time. The Finance Act, 1990, introduced Sub-section (3) to Section 80HHC which provides that profits derived from export of goods shall be an … to be decided in favour of the assessee.8. The assessee-company claimed deduction under Section 80HHC amounting to Rs. 35,525 while filing the return of income and in support of their claim the company submitted audit report in

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 … nature in case it is held that the same is not capital in nature then the provisions of section 35 do not apply and the expenditure has to be considered under section 37 of the Income Tax Act.(v) … 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

Addl. Commissioner (Legal) and anr. Vs. Jyoti Traders and anr.

Court : Supreme Court of India

Subject : Sales Tax

Acts : Uttar Pradesh Trade Tax Act, 1948 - Sections 21, 21(1) and 21(2)

Reported in : AIR1999SC526; JT1998(8)SC60; 1998(6)SCALE141; (1999)2SCC77; [1998]Supp3SCR67

case of a person deemed to be an agent of a non-resident person. By Section 18 of the Finance Act, 1956, period of one year was increased to two years. The relevant clauses of Section 34 prescribing the … of 1997) assessment for the year 1985-86 was completed on February 28, 1990. Period for assessment or reassessment, which is four years under Section 21 … latter year. From April 1, 1956, however, there was a change in the law as Sub-Section (10) of Section 35 of the Income-tax Act, 1922, was brought into force then. By an order made on March 27; 1958,

Aero Leather (P) Ltd. Vs. Union of India and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24); Finance Act, 1990; Constitution of India

Reported in : ILR1992Delhi731; [1992]194ITR7(Delhi)

been filed before the Commissioner of Income-tax for waiver of interest. (4) As already indicated hereinabove, by the Finance Act, 1990 two amendments were made in the Income-tax Act which adversely affected the interest of the petitioner. In Section … Products Ltd. : [1991]187ITR517(Bom) . That case was not concerning Ccs but related to the validity of Section 35(2)(4) pertaining to depreciation en account cf the assets which had been ceased to be used for scientific research.

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 … nature in case it is held that the same is not capital in nature then the provisions of Section 35 do not apply and the expenditure has to be considered under Section 37 of the IT Act. (v) … 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

Akhilanand Pandey and ors. Vs. Ranchi University and ors.

Court : Patna

Subject : Service

paid their salaries upto December, 1990. From January, 1991 their salary was stopped pursuant to letter of the Finance Officer of the University dated 26.7.1991 that from January, 1991 onwards salary of only ten teachers of the … said Committee on 27.4.1992 submitted its report, as contained in Annexure-15.11. According to the said report as per Section 35 of the Bihar State Universities Act, 1976 (hereinafter to be referred to as 'the Act') only the State

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2007)288ITR226(Hyd.)

short issue in this appeal is whether the levy of surcharge in terms of the provisions of the Finance Act, 2002, is valid in a block assessment made under Section 158BC of the Income-tax Act. The tax has … head note 'Retroactive Legislation' and Chatuvedi & Pithisaria's 'Income-tax Law' Fourth Edition, 1990 Vol.1 at page 239, the Tribunal concluded that no retrospectivity could be … otherwise nature of the amendment to the Income Tax Act, by way of insertion of Sub-section (5) to Section 35 by the Income Tax (Amendment) Act 1953, observed that the said Sub-section (5) is not declaratory of a