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Mechfield Industries Vs. Commissioner of Taxes and ors.

Court : Guwahati

Subject : Sales Tax

Acts : Assam Sales Tax Act, 1947; Assam Finance (Sales Tax) Act, 1956 - Sections 9(3), 11 and 12; Assam General Sales Tax Act, 1993 - Sections 10, 36, 40 and 41; Assam Sales Tax Rules, 1947 - Rules 3(1), 36, 61 and 62; Constitution of India - Article 226

1, 1997To M/s. Mechfield Industries, Paltanbazar, Guwahati. Sub: Notice Under Section 36 of the Assam General Sales Tax Act, 1993 for the periods ending September 30, 1981, March 31, 1982, September 30, 1982, March 31, 1983 and September … before us M/s. Mechfield Industries was a registered dealer under the Assam Sales Tax Act, 1947 and Assam Finance (Sales Tax) Act, 1956. For the periods ending September 30, 1981, March 31, 1982, September 30, 1982, March

Deputy Commissioner of Income Tax, Ahmedabad Vs. Core Health Care Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43(1), 80HH, 80I, 90(2) and 260A; Finance Act, 1986 - Sections 43(1); Finance Act, 2003

Reported in : 105(2008)CLT433(SC); (2008)215CTR(SC)1; [2008]298ITR194(SC); JT2008(2)SC367; 2008(2)SCALE327; (2008)2SCC465; 2008AIRSCW1425

directly or indirectly by any other person or authority. Explanation 8 has been inserted in Section 43(1) by Finance Act, 1986 (23 of 1986), with retrospective effect from 1.4.74. It is important to note that the word 'actual … batch of civil appeals we are concerned with the assessment years 1992-93, 1993-94, 1995-96 and 1997-98. A proviso has since been inserted in Section 36(1)(iii) … capital assets not put to use in the concerned financial year can be permitted as allowable deduction under Section 36(1)(iii) of the Income-tax Act, 1961? 5. According to the Department, the assessee was not entitled to treat the

M/S.Rural Electrification Corporation Ltd. Vs. Commissioner of Income ...

Court : Authority for Advance Rulings

Subject : Land Acquisition

Matched in: Advocate Present for the Applicant Mr.Pradeep Dinodia, FCA Mr. D.S.Ahluwalia, GM, REC Mr. Rakesh Sareen, DGM (Finance)REC Mr. Murlidharan, CM(FandA), REC Present for the Department Mr.Pravin Rawal, Dy.Commissioner of Income-Tax (L.T.U.).

Apsfdc Ltd., Employees Union Vs. Govt. of A.P. and Another

Court : Andhra Pradesh

Subject : Labour and Industrial

Acts : Payment of Bonus Act, 1965 - Sections 36; Constitution of India - Article 12, 21, 226; Indian Companies Act, 1956 - Sections 8, 10, 11, 19, 20 & 22

Reported in : 2001(1)ALD229; 2001(1)ALT99; (2001)ILLJ1002AP

of the power under Section 36 of the Act. The record contains a DO letter addressed by the Finance Department to the Principal Secretary to Government, Environment, Forest, Science and Technology Department, in which it is inter … void and inoperative.2. The first respondent herein by the impugned Governmental Order in exercise of the power under Section 36 of the Payment of Bonus Act, 1965 kept the operation of all the provisions of the said Act … in similar manner, the second respondent-Corporation earned huge profits for the years 1993-94 and 1994-95 also. It is contended that even for the year 1990-91,

Jubilant Organosys (Formerly Vam Organic Chemicals Ltd.) Vs. Commissio ...

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36, 36(1) and 263

Reported in : (2004)187CTR(All)574; [2004]265ITR420(All)

the accounts of the assessee for the previous year.'8. To this provision an Explanation was inserted by the Finance Act, 2001, with effect from April 1, 1989, which reads as follows :'Explanation.--For the purposes of this clause, any … registered under the Indian Companies Act and the relevant assessment year is 1993-94. The assessment order was passed by the assessing authority on March 31, … the profit and loss account and further that the assessee had not satisfied the conditions laid down under Section 36(1)(vii).7. Section 36(1)(vii) of the Income-tax Act states :'subject to the provisions of Sub-section (2), the amount of any

Gtc Industries Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)104ITD86(Mum.)

was also concerned with the retrospective amendment to the provisions of Section 143(1A) of the Act by the Finance Act, 1993 with effect from 1-4-1989 which was the date upon which Sub-section (1A) itself was introduced in the Act. … present case, the order under Section 154 was passed on 17-6-1996. The Department's contention that the Explanation to Section 36, Sub-section (1), Clause (7) of the Income-tax Act, clearly speaks of disallowability of provisions of bad and doubtful

Gtc Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)105TTJ(Mum.)1010

was also concerned with the retrospective amendment to the provisions of Section 143(1A) of the Act by the Finance Act, 1993 w.e.f. 1st April, 1989 which was the date upon which Sub-section (1A) itself was introduced in the Act. … the order under Section 154 was passed on 17th June, 1996. The Department's contention that the Explanation to Section 36, Sub-section 1, Clause (vii) of the IT Act, clearly speaks of disallowability of provisions of bad and doubtful

itc Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2003)86ITD135(Kol.)

was issued by the CBDT to explain the substance of the provisions relating to direct taxes in the Finance Act, 1986. The learned authorised representative is also silent about the observation of the AO that this type of … a/c but claimed a deduction at the time of computation of income.Subsequent to the bomb blast in March, 1993, the Hotel Sea-Rock had incurred expenditure worth Rs. 9.13 crores and claimed Rs. 14.73 crores as insurance on … the AO in rejecting the appellant's claim for being allowed deduction under Section 36(1)(iii) of IT Act, 1961, while computing the income chargeable under the

G.T.C. Industries Ltd. Vs. the Dy. Cit, Spl. Rg. 50

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

was also concerned with the retrospective amendment to the provisions of Section 143(1A) of the Act by the Finance Act, 1993 w.e.f. 1.4.1989 which was the date upon which Sub-section (1A) itself was introduced in the Act. The Apex … provisions contained Under Section 154 of the Income Tax Act, 1961, and basing on the amendment made to Section 36(1), Clause -(7), which was amended by Finance Act, 2001? 2. The assessee is a limited company and for

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

in question the assessee had profits of Rs.1.91 crores.6. At this stage, it may be noted that before Finance Act 1992, payment of interest to the partner was an item of disallowance. Therefore, it had to be added … Income-tax v. Abhishek Industries Ltd. .2. In this batch of civil appeals we are concerned with Assessment Years 1993-94, 1994-95, 1995-96, 1996-97 and 1997-98.FACTS:3. In August/September 1991, appellant assessee granted interest free advances to its sister concerns … whereby the High Court has upheld the disallowance of interest claimed under Section 36(1)(iii) of the Income-tax Act, 1961 ('1961 Act', for short), placing reliance