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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 … Theatres and Industrial Concerns P. Ltd. 272 ITR 177-Mad. examining the retrospective or otherwise nature of Amendment of Section 40 of Finance Act, 1983 by Finance Act, 1988, for purposes of Wealth Tax Act, the Hon'ble Madras High

Commissioner of Income Tax Vs. Hindustan Bulk Carriers

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(40), 119, 139(1), 139(4), 139(8), 140A, 142(1), 143(1), 143(2), 143(3), 144, 147, 148, 154, 155, 156, 208, 210, 215(4), 216, 220(2A), 234A to 234C, 243B(3), 245C, 245C(1C), 245C(1D), 245D, 245D(2A) to (2D), 245D(4), 245D(6), 245D(6A), 245F(1), 245F(2), 245H, 245H(1), 250, 254, 260, 262, 263 and 264; Finance Act, 1995; Finance Act, 1987; Indian Penal Code (IPC), 1860; Taxation Laws (Amendment) Act, 1975

Reported in : AIR2003SC3942; (2003)179CTR(SC)362; (2003)2MLJ65(SC); (2003)3SCC57; [2002]SUPP5SCR387

thousand rupees in the earlier proviso has been substituted by the expression 'one hundred thousand rupees' by the Finance Act, 1995 w.e.f. 1.7.1995. Some changes were introduced by Finance Act, 1987 w.e.f. 1.6.1987 in Sub-section (1B) and (1C) which

The Commissioner of Income Tax and Another Vs. V.S. Dempo and Co. Pvt. ...

Court : Mumbai

Subject : Direct Taxation

is not relevant for our purpose. We are also not concerned with insertion of section 9A by the Finance Act 2015 with effect from 1st April, 2016. 19. By Chapter III, incomes which do not form part of … IT Act, in view of the Circular No. 723 dt. 19th September 1995 [(1995) 128 CTR (St) 61], issued by CBDT? 9. The above question … of law for opinion of a larger bench. Q. Whether, while dealing with the allowability of expenditure under section 40(a)(i) of the Income Tax Act, 1961, the status of a person making the expenditure has to be a

Sita World Travel (i) (P.) Ltd. Vs. Deputy Commissioner of Income-tax.

Court : Delhi

Subject : Direct Taxation

Reported in : [1995]55ITD357(Delhi)

Matched in: Citation [1995]55ITD357(Delhi)

Commr.of Income Tax-i,new Delhi Vs. Vatika Township P.Ltd.

Court : Supreme Court of India

Subject : Land Acquisition

to the CIT, in view of the provisions of Section 113 of the Act as inserted by the Finance Act, 1995 and clarified by the Board Circular No.717 dated 14.08.1995, surcharge was leviable on the income assessed. According to … Income Tax Act were made by the same Finance Act specifically making those amendments retrospectively. For example, clause 40 seeks to amend S.92F. Clause iii (a) of S.92F is amended “so as to clarify that the activities

Ghanashyam Mishra And Sons Private Limited Vs. Edelweiss Asset Reconst ...

Court : Supreme Court of India

Subject : Land Acquisition

Commissioner of Income-Tax, Bombay v. Podar Cement Pvt. Ltd., 28the Supreme Court held that amendments introduced by the Finance Act, 1987 in so far they related to section 27(iii), (iiia) and (iiib) which redefined the expression ‘owner of … AIR1990SC2300 p. 2304 :1991. (1) SCC8623 R. Rajgopal Reddy v. Padmini Chandrasekharan, 1995 (1) Scale 692, p. 704 : AIR1996SC238 p. 246 : (1995) 2 … retrospective. Similarly, in Brij Mohan Das Laxman Das v. Commissioner of Income - tax29. Explanation 2 added to section 40 of the Income-tax Act, 1961 from 1.4.1985 on a question on which there was a divergence of opinion

income-tax Officer Vs. Kenaram Saha and Subhash Saha and

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2008)301ITR171(Kol.)

the circumstances spelt out in Circular No. 220 were inclusive by way of examples and not exhaustive.5. That Finance Act, 1995 amended Section 40A(3) with effect from April 1, 1996, by which disallowance under Section 40A(3) was reduced to … Income-tax Act, 1961. The common issue involved in all these appeals is with regard to disallowance under Section 40A(3) of the Act.Sri S.K. Tulsiyan, advocate, appearing on behalf of (i) M/s. Kenaram Saha & Subhash Saha and

Commissioner of Income Tax Vs. Anand theatres

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : (2000)160CTR(SC)492; [2000]110TAXMAN338(SC)

Hotel's case (supra) the Legislature amended the definition of 'plant' in section 43(3) of the Act by the Finance Act, 1995. The amending section clearly shows that the legislative intent was never to exclude cinema and hotel buildings which … the apparatus than part of the setting Jarrold v. John Good & Sons Ltd. (1963) 1 WLR 214: 40 TC 681.(iii) The term 'plant' is not apt to cover the permanent structure of a building in which

Commissioner of Income Tax Vs. Dalip Chand and Sons

Court : Himachal Pradesh

Subject : Direct Taxation

Reported in : [2008]301ITR276(HP),2008(1)ShimLC394

bank or by a crossed bank draft, such expenditure shall not be allowed as a deduction by the Finance Act, 1995, w.e.f. 1.4.1996.8. Reliance has also been placed on Circular No. 220 which lays down certain exceptions to the … 8, the Tribunal was justified in upholding the disallowance of Rs. 3,08,503 in terms of Sub-section (3) of Section 40A of the Income Tax Act, 1961?2. The brief facts are that the assesses firm is based at … the disallowance of Rs. 3,08,503 in terms of Sub-section (3) of Section 40A of the Income Tax Act, 1961?2. The brief facts are that the

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 … 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 … an item of deduction, provided that the amount of deduction does not exceed 18/12% interest per annum [See: Section 40(b)(iv) of the 1961 Act]. For the AY 1994-95, Department in this case, therefore, disallowed the claim for deduction