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Munjal Sales Corporation Vs. Commissioner of Income Tax, Ludhiana and ...

Court : Supreme Court of India

Subject : Direct taxation

Acts : Income Tax Act, 1961 - Sections 28 to 43C; Finance Act, 1992 - Sections 40;

Reported in : (2008)215CTR(SC)105; [2008]298ITR298(SC); 2008(2)SCALE598; (2008)3SCC185; 2008AIRSCW1369

payment of interest by the firm to any partner of the firm constituted business disallowance per se. After Finance Act 1992, Section 40(b)(iv) of the Act places limitations on the deductions under Sections 30 to 38. Prior to Finance Act

Mammen Vs. Commissioner of Gift Tax

Court : Kerala

Subject : Direct Taxation

Acts : Gift Tax Act, 1958 - Sections 4(1) and 6; Direct Tax Law (Amendment) Act; Finance (No. 2) Act, 1991; Wealth Tax Act

Reported in : [2004]269ITR167(Ker); 2004(2)KLT914

with the provisions of Schedule III to the Wealth Tax Act, that under the scheme formulated by the Finance Act, 1992, shares and debentures in companies are not liable to levy of Wealth Tax, that the Finance Act, 1992 … the valuation of the gift of the shares for the assessment year 1991-92 was to be made under Section 6 of the Gift-tax Act in accordance with Schedule III of the Wealth Tax Act?'2. The brief facts

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

Court : Allahabad

Subject : Direct Taxation

Reported in : [2001]79ITD56(NULL)

need to amend the law and insert sub-clause (va) in section 2(5B) of the Interest Tax Act by Finance Act, 1992 w.e.f. 1-4-1993 to include a Residuary Non-Banking Company even the explanatory memorandum as stated above to bring out

Life Insurance Corporation of India Vs. Joint Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)74TTJ(Mumbai)624

securities is intended to be taxed under the provisions of the Interest Tax Act (45/1974) as amended by Finance Act, 1992. As stated earlier, exclusion of interest on securities from the taxability to Interest Tax Act led to ambiguity. … interest under the Act as the same could not be classified as interest on loans and advances under section 2(7) of the Interest Tax Act, 1974 (as amended by the Finance Act, 1994).4. Assessing officer in the

infotech Enterprises Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2003)85ITD325(Hyd.)

or thing and are set up in notified free Trade Zones (FTZs). This provision was introduced by the Finance Act, 1981. 2. Similarly, Section 10B of the IT Act allows a five-year tax holiday to approved 100 per … exercise of the powers conferred by Sub-section (1) of Section 3 of the Foreign Trade (Development and Regulation) Act, 1992 the Central Government hereby notifies the following scheme, which is a sequel to resolution No. 17(38)/Comp./ 84(Part), dt. … of such replacement as claimed by the assessee before us.19. Further, para 93 of Chapter IX of EOUs and units in export processing Zones (Export

ito Vs. Shri Yogi H. Aggarwal, Associated

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2005)278ITR116(Mum.)

involving application of his skill, talent or specialized knowledge and experience." 12. With effect from 1/4/93 by the Finance Act, 1992 Section 10(32) was also inserted which reads as under :- "In the case of an assessee referred to in

Chitra Construction Company Vs. Addl Commissioner of Customs

Court : Chennai

Subject : Land Acquisition

Valley, Green Home, Onampalayam, Coimbator”109. culminating in Mahazar dated 1.3.2012 as being ultra vires Section 82 of the Finance Act, apart from being in excess of jurisdiction and unconstitutional. W.P.No.22902 of 2012: Writ Petition filed under Article 226 … Nenmal Shankarlal Parmer Vs. Parmar Vs. Assistant Commissioner of Income Tax (Investigation), 1992 (195) ITR 582.to state that a search warrant issued in respect of … an order of search and seizure made by the authority concerned, pursuant to a search warrant issued under Section 93(1)(c) of the Criminal Procedure Code, 1973, would not have the tendency to compel an accused to incriminate himself.

Maruti Suzuki Ltd. Vs. Commissioner of Central Excise, Delhi-iii

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Tariff Act, 1985; CENVAT Credit Rules, 2002 - Rules 2, 3(1), 6, 6(1) and 14; Additional Duties of Excise (Textile and Textile Articles) Act, 1978 - Sections 3, 3(2), 4 and 4(2); Additional Duties of Excise (Goods of Special Importance) Act, 1957 - Sections 3; Finance Act, 2001 - Sections 65, 66 and 136; Provisional Collection of Taxes Act, 1931; Finance Act, 2003 - Sections 157; Customs Tariff Act - Sections 3; Provisional Collection of Taxes Act, 1931; Finance (No. 2) Act, 2004 - Sections 91, 93, 95; Central Excise Rules, 2000 - Rules 3(1), 7, 9 and 16(2); CENVAT Credit Rules, 2004

Reported in : 2009(168)LC87(SC); 2009(240)ELT641(SC); JT2009(11)SC8; 2009(11)SCALE446; (2009)9SCC193; [2009]18STJ323(SC); [2009]22STT54; 2009(7)LC3257(SC)

Finance (Department of Revenue), namely:(1) No. 70/92-Central Excise, dated the 17th June, 1992, G.S.R.595 (E), dated the 17th June, 1992;(2) No. 62/95-Central Excise, dated the … Finance Act, 2001 (14 of 2001);(vi) the Education Cess on excisable goods leviable under Section 91 read with Section 93 of the Finance (No. 2) Act, 2004 (23 of 2004);(vii) the additional duty leviable under Section 3 of … Importance) Act, 1957 ( 58 of 1957);v. the National Calamity Contingent duty leviable under Section 136 of the Finance Act, 2001 (14 of 2001), as amended by Clause 161 of the Finance Bill, 2003, which clause has, by

Sedco Forex International Drill. Inc. and ors. Vs. Commissioner of Inc ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4(1), 5(2), 9, 9(1) and 119; ;Finance Act, 1999 - Sections 9(1); ;Finance Act, 1983

Reported in : AIR2006SC428; (2005)199CTR(SC)320; [2005]279ITR310(SC); JT2005(5)SC639; (2005)12SCC717

It was further submitted that the amendment to the Explanation to Section 9(1)(ii) was brought about by the Finance Act 1999 and was retrospective since it was clarificatory. It was also stated that the issue whether a statute … Explanation thereto in the Income Tax Act 1961 (hereinafter referred to as 'the Act') for the Assessment years 1992-93, 1993-94.3. The Assessing Authority assessed the employees of the appellant including the salary for the field breaks as

Larsen and Toubro Ltd. Vs. Commissioner, Commercial Tax and ors.

Court : Madhya Pradesh

Subject : Sales Tax/VAT

Reported in : (2008)17VST353(MP)

note of the definition of 'sale' under Section 2(g) of the CST Act that was substituted by the Finance Act, 2002 which has substantially widened the scope of the concept of deemed sale. That apart it is urged … dealer under both the local and the Central Sales Tax Acts. The petitioner was assessed for the year 1992-93 under the Madhya Pradesh Commercial Tax Act, 1994 (for brevity 'the 1994 Act') and the assessment order was