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The Commissioner of Income Tax-v Vs. Natraj Stationery Products (P) Lt ...

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80IA, 80IA(2), 80IB, 80IB(3), 143(1) and 260A; Finance Act, 1991; Finance Act, 1992; Finance Act, 1993; Finance Act, 1994; Finance Act, 1995; Finance Act, 1996; Finance Act, 1997; Income Tax (Amendment) Act, 1998; Finance Act, 1998; Finance Act, 1999

Reported in : (2009)222CTR(Del)430; [2009]312ITR22(Delhi); [2009]177TAXMAN168(Delhi)

would be sufficient, if a note is made of the fact that the Section was amended by the Finance Act, 1992 with effect from 01.04.1993, thereafter by the Finance Act, 1993 with effect from 01.04.1994, then the Finance Act, … suffer losses till assessment year 1997-98. Consequently, the assessee did not claim any deduction, in particular under Section 80-IA of the Act, as it appeared on the statute book at the relevant point in time, till the

C. S. Mathur Vs. Central Board of Direct Taxes and anr.

Court : Delhi

Subject : Direct Taxation

Reported in : (1998)147CTR(Del)75

whereof is not necessary for our purpose.10.1. Sec. 80-O as it originally stood, underwent a change by the Finance Act No. 2 of 1991 (w.e.f. 1st April, 1992). The provision which applied earlier to an Indian company only … costs. Head Note: INCOME TAX Deduction under s. 80-O--OVERRIDING EFFECT Ratio : assessed can claim benefit either under section 80-O or under section 80RRA, whichever is beneficial to him. Held : If an assessed in the same set

Commissioner of Income Tax Vs. Vijay Granites Pvt. Ltd

Court : Chennai

Subject : Direct Taxation

granite, deduction under Section 80HHC can be allowed. The contention of the Revenue that the amendment made by Finance Act No.2 of 1991 introducing schedule XII is effective only from the assessment year 1991-1992 and in respect of … the three years, the assessments were reopened under Section 148 of the Act to withdraw the deduction under Section 80 HHC pursuant to the decision rendered by the Apex Court in the case of M/s. Stone Craft Enterprise's

Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2000)241ITR43(Mum.)

incorporated mainly to encourage earning of the foreign exchange, inviting our attention to the relevant notes to the Finance Act, 1967, the learned counsel contended that s. 85C granted the deduction till asst. yr. 1972-73 when s. 80-O … 1. The appeal of the assessee, for asst. yr. 1992-93, had come up for hearing before 'A' Bench, Mumbai and on the recommendation of the Bench, the President … s. 80-O. It was reiterated that s. 80-O is a stand alone section.Referring to the decision of the Supreme Court in the case of Distributors

The Director of Income Tax Vs. Shardaben Bhagubhai Mafatlal Public Cha ...

Court : Mumbai

Subject : Direct TaxationTrusts and Societies

Acts : Income Tax Act, 1961 - Sections 2(31), 11(5), 13(1), 80-L, 160, 161(1), 162, 164 and 260-A; Companies Act, 1956 - Sections 617; Finance Act, 1991; Finance Act, 1992; Finance Act, 1983; Income Tax Act, 1922 - Sections 16(3)

Reported in : (2001)1BOMLR744; (2000)164CTR(Bom)97; 2001(2)MhLj695

pattern which was brought to the notice of the Government. With a view to remove the hardship, the Finance Act, 1992 amended clause (iia) in the provision to section 13(1)(d) to provide that an asset, other than an investment … Tax Act.(1) Whether the assessee Trust was assessable as an individual and consequently entitled to deduction under Section 80-L of the Act? (2) Whether the assessee-Trust violated Section 13(1)(d) of the Act in the Assessment Year 1993-94

C.S. Mathur Vs. Central Board of Direct Taxes and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 80RRA

Reported in : 1998IVAD(Delhi)550; 1998(45)DRJ450; [1999]235ITR769(Delhi)

whereof is not necessary for our purpose.10.1. Section 80O as it originally stood, underwent a change by the Finance Act No.2 of 1991 (w.e.f. 1.4.1992). The provision which applied earlier to an Indian Company only was extended in … per year in consideration of the services provided by the petitioner.3. The petitioner was granted approval under Section 80RRA for the financial years 1991-92 to 1994-95. The petitioner sought for a similar approval by way of extension/renewal

Z.F. Steering Gear (i) Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Act was inserted by the Finance Act, 1991 with effect from 1-4-1991. It was subsequently amended by the Finance Act, 1992 with effect from 1-4-1993 and then by Finance Act, 1993 with effect from 1-4-1994/1-4-1995. The deduction under Section … this ground and therefore it is rejected.3. This ground relates to the assessee's claim for deduction under Section 80-IA of the Act.4. The first assessment order, giving rise to the present controversy, was passed by the assessing

Commissioner of Income-tax Vs. V. Venkatachalam

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 14, 28 to 43-A, 48, 80-E, 80T and 256(1)

Reported in : AIR1994SC1267; (1993)113CTR(SC)55; [1993]201ITR737(SC); 1993(3)SCALE253; 1993Supp(3)SCC413

been placed in Section 48. (Of course, Section 48 has been totally recast with effect from 1.4.93 by Finance Act, 1992). The words 'such income', in our opinion meant and referred to the capital gains and not the total … was correct in holding that the assessee was entitled, for the assessment year 1973-74, to relief under Section 80-T of the Income Tax Act, 1961, on an amount calculated, in terms of the aforesaid provisions, with reference

Central Board of Direct Taxes and ors. New Delhi Vs. Oberoi Hotels (In ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Finance Act, 1991; Central Sales Tax Act, 1956 - Sections 5(1); Central Excise Act, 1944 - Sections 37-B; Income Tax Act, 1961 - Sections 30-O, 40, 85-C, 80-O, 80P(2), 119 and 143(3); Income Tax Act - Sections 14(3); Finance (No. 2) Act, 1971

Reported in : 1998IVAD(SC)411; AIR1998SC1666; (1998)146CTR(SC)222; [1998]231ITR148(SC); JT1998(2)SC717; 1998(2)SCALE516; (1998)4SCC552; [1998]2SCR501

resources of the country. This was reiterated in Board's Circular No. 72 explaining the changes introduced by the Finance (No. 2) Act, 1971. Keeping in view the purpose behind this tax incentive and the requirements of the … an agreement for stock and distribution of ammonium sulphate was exempted under Section 14(3)(iv) of the Income Tax Act, 1992. This Court observed as under:'We have considered the matter carefully and to our mind, it seems clear that … Bench of the Delhi High Court quashing its non approval under Section 80-0 of the Income Tax Act, 1961 (for short 'the Act') to an

Rojer Mathew Vs. South Indian Bank Ltd and Ors Chief Manager

Court : Supreme Court of India

Subject : Land Acquisition

CJI1 Leave granted. BRIEF BACKGROUND:2. In the present batch of cases, the constitutionality of Part XIV of the Finance Act, 2017 and of the rules framed in consonance has been assailed. While it would be repetitious to reproduce … the maximum age that was fixed/determined under the old Acts and Rules;” 80. The following directions were also issued on 16th July, 2018 with regard … the High Court of Kerala. The petitioner had originally approached the High Court challenging the constitutional validity of Section 13 (5- A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act,