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The Comissioner of Income-tax, Bombay City-ix, Bombay Vs. Shri J.V. Ko ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 10(13), 15, 16, 17(3), 41, 44, 45, 59, 192(5), 256(1) and 280-D; Finance Act, 1995

Reported in : 1998(4)BomCR821; [1999]235ITR239(Bom)

this anomaly and with a view of bringing such receipts within the provisions of the law, by the Finance Act, 1995, amended section 17(3)(ii) of the Act to restrict the exclusion from the definition of 'profits in lieu of

Mitsui and Company Ltd. Vs. Deputy Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Reported in : (1999)65TTJ(Del)1

Explanationn in section 9(ii) of the Income Tax Act, 1961, with effect from 1st April, 1979 by the Finance Act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services … small amount of salary paid to its expatriate employees. The Assistant Commissioner issued a letter on 28th March, 1995, calling for information under section 133(6) of the Income Tax Act about the salary, etc., paid to expatriate … acting as disbursing officers submitted annual returns of salary in Form No. 24 as required under section 206 of the Income Tax Act, each year.3.2.

Shree Ambay Forgings Pvt. Ltd. Vs. Commissioner of Cen. Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Land Acquisition

Reported in : (2006)(112)ECC311

penalty & interest provisions on Modvat Credits when Clause XVIC was inserted in Section 37(2) vide amendment by Finance Act, 1995 & notification 25/95 CE(NT) dt 31.5.95 then issued or Clause 1(bb) added vide Finance Act 1999 to bring … is undoubtedly Section 3A. Thus Section 3A was omitted w.e.f. 11.5.2001 by Finance Act, 2001. Vide Notification No. 24/97-CE(NT) dated 25.7.1997, the Central Government framed Induction Furnace Annual Capacity Determination Rules, 1997 (hereafter referred as 1997 Rules)

Thomas John vs the Commissioner of Central Excise

Court : Kerala

petition.6. I have heard learned counsel for the parties and appraised the paper book.7. Section 65(105)(zzzza) of the Finance Act, 1995 WP(C) NO. 19968 OF 2016 -8- as it was in vouge in 30.06.2012 reads as under:“6.It is submitted … IN THE HIGH COURT OF KERALA AT ERNAKULAMPRESENT THE HONOURABLE MR. JUSTICE AMIT RAWAL TUESDAY, THE 24TH DAY OF JANUARY 2023 / 4TH MAGHA, 1944 WP(C) NO. 19968 OF 2016 PETITIONER: THOMAS JOHN, AGED 54

M.K. Jha Vs. Income Tax Appellate Tribunal

Court : Patna

Subject : Direct Taxation

. This judgment does not help the department. In that judgment an income disclosed by the wife under Section 24(3) of the Finance Act,1995, was disclosed as a credit in the return filed by the assessee. The genuineness

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2007)288ITR226(Hyd.)

to various years covered by the block assessment. We find that second proviso to Section 7(2) of the Finance Act, 1995, specifically provides that "the amount of income-tax computed in accordance with the provisions of Section 112 or 113 … view of the matter, we see no substance in submissions of the assessee, and accordingly, reject the same. 24. Accordingly, assessee's ground of appeal against levy of surcharge, on income tax computed under Section 113 is dismissed.

Maharashtra State Co-operative Bank Limited and anr. Vs. the State of ...

Court : Mumbai

Subject : Banking

Acts : Code of Civil Procedure (CPC) , 1908 - Sections 9 - Order 1, Rule 1; Maharashtra Co-operative Societies Act, 1960 - Sections 2(2), 2(10), 60 and 70; National Bank for Agricultural and Rural Development Act, 1981 - Sections 2; Banking Regulation Act, 1949 - Sections 18, 24 and 56; Multi-State Co-operative Societies Act, 1984 - Sections 3 and 5; Constitution of India - Article 226

Reported in : 1997(3)BomCR4

Principal Co-operative Society must be carrying on the business of banking and its primary object must be to finance other Co-operative Societies in the State. Otherwise how can a society be recognized as the State Co-operative Bank … have challenged the legality and validity of the Notification dated 30th December 1995 issued by the State of Maharashtra purportedly under section 2(u) of the … and that, moreover, the provisions of the Bk. Reg. Act, especially section 18 read with section 56(j), and section 24 read with section 56(q)(2)(c), specifically refer to 'State Co-operative Bank of the State concerned'. Thus according to him,

Gal Offshore Services Ltd. (Now the Great Eastern Shipping Company Ltd ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33AC, 33AC(1), 139(1) and 143(3); Finance Act, 1995; Direct Tax Laws (Second Amendment) Act, 1989; Finance Act, 1999 - Sections 9(1)

Reported in : (2009)221CTR(Bom)448; [2009]309ITR125(Bom)

actual carrying on of the business of operations of shipping in the year of claim;ii) Amendment brought by Finance Act, 1995 with effect from 1st April, 1996 is clarificatory and retrospective.iii) Circular No. 554 dated 12th December, 1994 clarifies … justified in upholding the action of the lower authorities that the Appellant is not entitled to deduction under Section 33AC of the Act?2. Whether the Hon'ble Tribunal was justified in not considering the material on record and … and gas production vessels, cargo vessels, storage vessels and passenger vessels.b) On 24th November, 1994, the assessee filed its return of income under Section 139(1)

Kiran Corporation Vs. the Asstt. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)102TTJ(Ahd.)375

the Income-tax Act and contended that Explanation to Section 36(1)(vii) applied in this case was introduced, by the Finance Act, 2001 with retrospective effect from 1.4.1989. The aforesaid Explanation, was not applicable when the return for the relevant … Under Section 143(1 A) relying. upon the ' Supreme Court decision in the case of CIT v. HEG 243 ITR 48 or whether the Judicial Member is justified in upholding the levy of additional tax relying upon

Paramount Enterprises Ltd. Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : (2002)76TTJ(Del)127

supported the conclusion of the assessing officer in levying surcharge which in his opinion was provided under the Finance Act.35. We have heard the parties at length, gone through the paper books filed by the assessed and the … of the assessing officer, assessed has come in appeal before us taking 24 grounds of appeal. Out of these, 20 grounds deal with the disallowance … deal with the disallowance of claim of capital loss amounting to Rs. 1,66,59,280 which relates to assessment year 1995-96 and another ground for the addition of Rs. 65,609 made by invoking the provisions of section 69B of