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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

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 But due to the retrospective amendment by the Finance Act, 1990, the relief in respect of cash assistance has been withdrawn and, therefore, the total income will become positive … been withdrawn and, therefore, the total income will become positive taxable income.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 … first one being against the rejection of the assessee's claim of Rs. 49,543 under section 80HHC on the ground that the assessee has not created

Tata Sky Limited Vs. the State of Uttarakhand and ors.

Court : Uttaranchal

Subject : Company

Acts : Companies Act, 1956; ; Indian Telegraph Act, 1885 - Section 4; ; Indian Wireless Telegraphy Act, 1933; ; Uttar Pradesh Entertainment and Betting Tax Act, 1979 - Sections 2, 3, 4, 4A, 4A(4), 4B and 4C; ; Bombay Entertainments Duty Act, 1923; ; Uttar Pradesh Entertainment and Betting Tax (Amendment) Act, 2009; ; Finance Act, 2001 - Sections 65, 65(5), 65(13), 65(63), 65(72) and 137; ; Prasar Bharti (Broadcasting Corporation of India) Act, 1990 - Section 2; ; Finance Act, 2002 - Sections 65, 66(5), 65(14), 65(15), 65(80) and 65(90); ; Finance Act, 2003 - Section 65, 65(16), 65(95), 65(105) and 66(1); ; Finance Act, 2004; ; Finance Act, 2005 - Section 65(16) and 65(105); ; Government of India Act, 1935; ; Cable Television Networks (Regulation) Act, 1995; ; Bengal Amusements Tax Act, 1922; ; We

the fact, that broadcasting was subjected to tax liability as a 'service' for the first time under the Finance Act, 2001. Chapter V. of the Finance Act, 2001 bears the heading 'Service Tax'. Section 65(13) of the Finance … Act, 2001, reference must necessarily be made to Section 2(c) of the Prasar Bharti (Broadcasting Corporation of India) Act, 1990. Section 2(c), referred to above, is being reproduced hereunder:2. Definitions.- In this Act, unless the context otherwise requires,-(c) 'broadcasting' … The petitioner company has its registered office at Bombay. The petitioner company was granted a statutory licence under Section 4 of the Indian Telegraph Act, 1885 and Indian Wireless Telegraphy Act, 1933 after it successfully followed the rigours

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.

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 … as under:Whether, on the facts and circumstances of the case, the Tribunal has correctly construed the provisions of Section 80HHC, in the matter of computing profits and gains of their business, in the context of the said … 'Profits and gains of business or profession' under Part D of Chapter IV. The Assessing Officer seriously erred in excluding the profits or other income

Commissioner of Income Tax Vs. Raman Iron Foundry and Steel Rolling Mi ...

Court : Allahabad

Subject : Direct Taxation

Reported in : [2007]291ITR434(All)

of the respondent assessee.6. In view of the retrospective amendment in Section 28 of the Act by the Finance Act, 1990, with retrospective effect from April 1,1967, under Clause (iiib) the cash assistance received or receivable by any person … of cash assistance. [Para 7] Income Tax Act, 1961 Section 28(iiib) - INDIAN PENAL CODE, 1860 [C.A. No. 45/1860]. Section 302; [M.C. Jain, R.C. Deepak & K.K. Misra, JJ] Murder Plea as to accused being minor School

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 … Section 44AC. Sub-sections (2) to (5) of Section 206C of the Act are further machinery provisions. In particular, Sub-section (4) provides that any amount collected under the section shall be deemed to be payment of tax on behalf

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

Sone Vanaspati Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

notification stricto sensu which could exempt the petitioner from the incidence of Sales Tax. Reference was made to Section 4 (3) of the 1959 Act and Section 7 of the Bihar Finance Act, 1981 which provide that the … informed the Assistant Commissioner Commercial Taxes. Aurangabad (Respondent No. 5) that the notification in question under the Bihar Finance Act, 1981 was expected to be issued shortly.6. According to the petitioner despite the same it has been threatened … its factory is situate.3. The State adopted a resolution on 21st February, 1990 known as Industrial Policy, 1990 with a view to accelerate growth of

State of Bihar and anr. Vs. Lucky Paper Industries

Court : Patna

Subject : Other Taxes

Acts : Bihar Finance Act, - Sections 4, 48(2) and 48(3); Bihar Finance Act, 1981; Haryana General Sales Tax Act, 1973 - Sections (9)(1)

Kr. Prasad and Jayanandan Singh, JJ.1. In exercise of the power conferred under Section 48(3) of the Bihar Finance Act, upon receipt of an application under Clause (b) of Sub-section (2) of Section 48 of the Act, this … Act, 1973 has been declared ultra vires, the levy of tax on estimated value of raw materials under Section 4 of the Act, the Act though still good law, is bad in law?2. In the light of the