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Thanthi Trust Vs. Assistant Director of Income-tax and anr.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 11, 11(1), 11(2), 11(3), 11(3A), 11(4) and 11(4A); Finance Act, 1991

Reported in : [1999]238ITR635(Mad)

application - Section 11, 11 (1), 11(2), 11(3), 11(3A), 11(4) and 11(4A) of Income Tax Act, 1961 and Finance Act, 1991 - whether Section 11 (4A) excludes from its purview 'business' held in trust which is property of charitable

Unit Trust of India, Mumbai and anr. Vs. P.K. Unny and ors.

Court : Mumbai

Subject : Direct Taxation

Acts : Interest Tax Act, 1974 - Sections 2, 2(5), 2(7), 3(1), 3(1C), 3(2), 4, 4(1), 4(2), 5, 6, 6(2), 7, 9, 9(1), 10, 10A, 18, 21, 26C, 28 and 119; Income-tax Act, 1961 - Sections 2(7A), 2(24), 2(28A), 2(45), 4, 5, 5A, 14, 15, 16, 24, 40, 43D, 44, 44AD, 44D, 115J, 116, 119 and 147; Companies Act, 1956 - Sections 4A; Finance Act, 1991; State Financial Corporations Act; Finance Act, 1988; Hotel Receipts Tax Act, 1980; Finance Act, 1980; Unit Trust of India Act, 1963 - Sections 9(2),19(1)(3), 19(3), 21, 22 to 25B, 25B(1) and 25B(2), 32, 32(1) and 52; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 2000; Unite Trust of India (Amendment) Act, 1966 - Sections 2(1); Wealth Tax Act, 1957; Super Profit-tax Act, 1963; Companies (Profit) Surtax Act, 1964; Rent Control Act; Public Premises

Reported in : 2001(3)BomCR673; 2002(1)MhLj301

empowered to specify any other Institution, as it may think fit, to be a public Financial Institution. The Finance Act (No. 2) of 1991 came into force on and from 1st October 1991. Therefore, upto 1st October, 1991 … to interest tax under the said Act, 1974 in view of Section 32 of the UTI Act. On 11th October, 1991 CBDT addressed a letter … and, if so, whether interest accruing to UTI from loans advanced by it stands exempted in view of Section 22 of the UTI Act, 1963? B. If the answer to question No. A is in the negative

M.S. Hameed and ors. Vs. Director of State Lotteries and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 40A, 44A, 44AC, 194, 194A, 194B, 194C, 194D, 194G, 194G(1), 194G(2), 194G(3), 194H, 194I, 194J, 194K, 194L and 206C; Finance Act, 1991; Kerala State Lottery Rules - Rule 25; Finance (Amendment) Act, 1992

Reported in : [2001]249ITR186(Ker)

194G (1), 194G (2), 194G (3), 194H, 194I, 194J, 194K, 194L and 206C of Income Tax Act, 1961, Finance Act, 1991, Rule 25 of Kerala State Lottery Rules and Finance (Amendment) Act, 1992 - petitioners received bulk quantities of … 29-12-1998. I am to invite a reference to the letter cited and to inform you as follows : Section 194G of the Income-tax Act, 1961, specifically imposes a liability on the person responsible for paying to any

Sri. K. Mahendar Vs. the Commissioner of Income-tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45(5), 143(1), 143(3), 148 and 155(7A); Finance Act, 1978; Direct Tax Laws (Amendment) Act, 1978; Finance Act, 1987; Limitation Act - Sections 5

Reported in : (2008)214CTR(Mad)598; [2008]303ITR245(Mad)

The Assessing Authority further pointed out that under Section 155(7-A) (since omitted with effect from 1.4.1992) introduced the Finance Act, 1978 with effect from 1.4.1974 and amended by the Direct Tax Laws (Amendment) Act, 1978 with effect from … holding that the sum of Rs. 2,02,624/- has to be assessed as 'capital gains' in the assessment year 1991-92 under Section 45(5)(b) of the Income-tax Act, 1961?(ii) Whether the Income-tax Appellate Tribunal on the facts and circumstances … to the order of the Apex Court dated 14.11.1991 in C.A. No. 3094 of 1990 etc. and to the order of this Court dated 22.12.1997

Devkala Consultancy Services, Bangalore Vs. Union of India and Others

Court : Karnataka

Subject : Commercial

Acts : Interest-Tax Act, 1974 - Sections 4, 5 and 26-C; Constitution of India - Articles 265 and 226; Banking Regulation Act, 1949 - Sections 21, 35-A(1) and 36(1); State Bank of India Act, 1955; State Bank of India (subsidiary Banks) Act, 1959; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980; Finance Act, 1991; Foreign Exchange Regulation Act, 1947 - Sections 20(3)

Reported in : 1999(2)KarLJ115

of the Interest-tax Act are stated to have been re-introduced with effect from 1-10-1991 by virtue of the Finance Act, 1991. Section 4 of the said Act provides that the bank shall charge for every assessment year commencing on and … Scheduled Commercial Banks to refund the alleged excess interest collected from the borrowers.2. It is submitted that respondents 3 to 29, which are all banks, operating in the country were charging interest on loans and advances granted

Asstt. Cit Vs. South Point Montessorie School

Court : Guwahati

Subject : Direct Taxation

shall conduct and manage all the businesses of the school and have full control of the management and finance of the school. However, it would be subject to the rules and regulations contained in the constitution and … Commissioner (Appeals) dated 25-8-1995 passed in the matter of assessment made under Section 143(3)/147 of the Income Tax Act, 1961 for the assessment years 1987-88 to 1991-92 and the appeals being ITA Nos. 389/Gau/1995, 390/Gau/1995, 15/Gau/1996, 16/Gau/1996

Hilltop Holdings India Ltd. Vs. Commissioner of Income Tax and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 116, 139(5), 143(1), 143, 143(2), 143(3), 154, 154(1), 156, 246, 263, 264 and 264; ;Ministerial Act; ;Finance Act, 1994; ;Direct Tax Laws (Amendment) Act, 1987; ;Finance Act, 1991 - Section 143; ;Income Tax Act, 1922 - Section 33B(1); ;Finance Act, 1987 - Section 143(1); ;Finance Act, 1999 - Section 143(5)

Reported in : (2005)3CALLT409(HC),(2005)197CTR(Cal)619,[2005]278ITR501(Cal)

he could resort to Section 143(2). An Explanation was inserted in Section 143 by the Finance (No. 2) Act, 1991, to provide that an intimation sent under Sub-section (1) or Sub-section (1B) shall be deemed to be an … an intimation under Section 143(1) where the assessee objects to the making of adjustments brought about by the Finance Act, 1994, w.e.f. 1st of June, 1994. By reason of such fiction, it is a deemed order for the … the assessment and directing a fresh assessment within the scope of Section 33B(1) of the IT Act, 1922. Mr. Shome relied on this decision in

Rupal Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1994)49ITD484(Mum.)

for the assessee has invited our attention to Explanation (ba) below Section 80HHC, inserted by Finance (No. 2) Act, 1991 with effect from 1-4-1987, according to which "total turnover" shall not include freight or insurance attributable to the … We have considered the rival submissions carefully. If we look at the original Section 80HHC, introduced by the Finance Act, 1983 with effect from 1-4-1983, the scheme for deduction in respect of export turnover was quite different. The … and which was available at 195 ITR 154 (St.) at 179 : 32.18 Whereas the definition of the term 'export turnover' excludes freight and insurance

Sunrise Biscuits Co. Ltd. and anr. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax

Government issued notification, on April 4, 1994 in exercise of the powers under Section 7 of the Bihar Finance Act, 1987 whereunder the old industrial units, which had started production prior to April 1, 1993, but whose investments … 1987 to March 31, 1990 and by subsequent notification, this package of incentives was extended till March 31, 1991. This Scheme aimed at encouraging growth and promotion of industries based on local resources, local demands, local conditions … incentives, so announced, remained in force from January 1, 1987 to March 31, 1990 and by subsequent notification, this package of incentives was extended till

Sahara India Savings and Investment Corporation. Ltd. Vs. Asstt. Cit

Court : Allahabad

Subject : Direct Taxation

Reported in : [2001]79ITD56(NULL)

is whether in the absence of a specific exclusion in the newly inserted definition of interest by the Finance Act, 1991 can it be said that interest on securities would now stand covered and to decide the issue submitted … of the Interest Tax Act and whether it can be considered a Miscellaneous Finance Company as defined in section 2(5B) & (vi) of the Interest Tax Act, as amended by the Finance (No. 2) Act of 1991.3.