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Commissioner of Income Tax Vs. JaIn Construction Co. and ors.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (1999)156CTR(Raj)290

of law on the subject was still not satisfactory, thus section 40(b) has again been substituted by the Finance Act of 1992, which reads as follows :'Section 40 : Notwithstanding anything contrary to section 30 to 38, the … Income Tax Act, 1961, (hereinafter referred to as 'the Act of 1961'), which pertain to the assessment year 1993-94, have been filed at the instance of the revenue seeking mandamus to the Tribunal for drawing up statement

Commissioner of Wealth Tax vs.atma Ram Properties (P) Ltd.

Court : Delhi

Subject : Direct Taxation

their assets. However, the Finance Act 1983 (FA1983 revived wealth tax in respect of the assets of companies. Section 40 (1) of the FA1983stated that notwithstanding anything contained in Section 13 of the FA, 1960, wealth tax was … it is first necessary to understand the background in which the questions that have been framed arose. The Finance Act, 1960 (FA1960 exempted WTA No.16/2005 & connected matters Page 11 of 38 companies from the levy of wealth … an appeal being ITA No.162 of 2003 in this Court.10. For AYs 1993-94 to AYs 1998-99 after the AO and the CIT (A) held against

Commissioner of Income-tax Vs. JaIn Construction Co. and ors.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 40, 119, 145, 256 and 263; Income Tax (Amendment) Act, 1993; Finance Act, 1992

Reported in : [2000]245ITR527(Raj)

of law on the subject was still not satisfactory, thus Section 260A has again been substituted by the Finance Act of 1992, which reads as follows :'40. Notwithstanding anything to the contrary in Sections 30 to 38, the … the Income-tax Act, 1961 (hereinafter referred to as 'the Act of 1961'), which pertain to the assessment year 1993-94, have been filed at the instance of the Revenue seeking mandamus to the Tribunal for drawing up a

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

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 … 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 … Preservation of books of accounts, documents, etc.--All books of accounts and documents referred to in Sub-section (1) of Section 40 and all declarations and other documents laid down under Sub-section (2) of Section 10 shall be preserved by

income-tax Officer Vs. Vegunta Surya Prakasa Rao Sons and

Court : Income Tax Appellate Tribunal ITAT Vizag

Subject : Direct Taxation

Reported in : (2004)88ITD322Visakha

new scheme of taxation of firms and partners effective from assessment year 1993-94 has been introduced in the Finance Act, 1993. Until and including assessment year 1992-93 firms were assessed as Registered firms or Unregistered firms. Registered firms were … a partner in the capacity of HUF in the firm in spite of prohibition in Explanation 4 of Section 40(&) of the Act. 4. The CIT(A) erred in giving relief to the assessee in view of the non

Assistant Commissioner of Wealth Tax Vs. Prasad Productions (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Reported in : (1997)57TTJ(Mad)400

silver collected from the dust and flakes is not asset within the meaning of s. 40 of the Finance Act, 1983, so that it can be included in the net wealth of the assessee. The CWT(A) by the … dismissed. Head Note: INCOME TAX WEALTH TAX Company--CHARGE OF WEALTH TAX ON CLOSELY HELD COMPANIES--Insertion of proviso to section 40 (3) (i) by Finance Act, 1983 Ratio: Provisions of section 40 (3) (i), proviso inserted with effect from

ANZ Grindlays Bank Vs. Deputy Commissioner of Income-tax

Court : Delhi

Subject : Direct Taxation

thereon under Chapter XVII B of the Act. The said clause (iii) was substituted by virtue of the Finance Act, 2003 with effect from 1st April 2004. By virtue of the aforesaid amendment, the rigor of sub clause … following context: 3.1 During the relevant period - financial years 1984-85 to 1993-94 - the Assessee was a non-resident banking company and its principal place … in the present appeal relates to the denial of deduction of expenses - by virtue of provision of Section 40(a)(iii) of the Act -for failure on the part of the Assessee to deduct and deposit Tax Deducted at

Commissioner of Wealth Tax Vs. Varadharaja theatres (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Reported in : (2000)162CTR(Mad)276

that the cinema building owned by the assessee is entitled to exemption from wealth-tax under section 40(3)(vi) of Finance Act, 1983, as it stood during the relevant period, namely, the years 1984-85, 1985-86, 1986-87, despite the fact that

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

amount of Rs.2,04,39,093/- under provisions of Rule 14 of the Credit Rules read with Section 73 of the Finance Act,1994. In respect of towers and parts thereof, prefabricated building, printers and office chairs, the Commissioner observed that the … of excise leviable under section 3 of the Additional Duties of Excise (Textile and Textile Articles) Act,1978 ( 40 of 1978);(iv)(iv) the additional duty of excise leviable under section 3 of the Additional Duties of Excise (Goods

ANZ Grindlays Bank (now Standard Chartered Grindlays Bank Ltd.) Vs. De ...

Court : Delhi

Subject : Direct Taxation

thereon under Chapter XVII B of the Act. The said clause (iii) was substituted by virtue of the Finance Act, 2003 with effect from 1st April 2004. By virtue of the aforesaid amendment, the rigor of sub clause … following context: 3.1 During the relevant period - financial years 1984-85 to 1993-94 - the Assessee was a non-resident banking company and its principal place … in the present appeal relates to the denial of deduction of expenses - by virtue of provision of Section 40(a)(iii) of the Act -for failure on the part of the Assessee to deduct and deposit Tax Deducted at