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Nectar Beverages Pvt. Ltd. Vs. Deputy Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(11), 31(1), 32(1), 34, 35(2B), 41, 41(1), 41(2), 41(3), 41(4), 43 and 50; Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986; Finance (No. 2) Act, 1995; Companies Act, 1956

Reported in : (2009)224CTR(SC)433; [2009]314ITR314(SC); JT2009(13)SC471; 2009(9)SCALE200; [2009]182TAXMAN319(SC); 2009(7)LC3385(SC)

respect of bottles and crates purchased after 1.4.1995, on account of deletion of proviso to Section 31(1)(ii) (vide Finance Act, 1995) such bottles and crates formed part of block of assets and consequently such assets purchased after 1.4.1995, in … years 1990-91 to 1998-99, the question which arises for determination is: whether the concept of 'balancing charge' in Section 41(2) could be read into Section 41(1) of the Income Tax Act, 1961?3. In this batch of civil appeals

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 … or other person aforesaid; (v) any sum chargeable to income-tax under Clauses (ii) and (iii) of section 28or section 41 or section 59; (v-a) the value of any benefit or perquisite taxable under Clause (iv) of section 28;

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 … may extract below the Note to Clauses given in 254 ITR (Statutes) 149, which reads as under: Clause 41 seek to amend Section 113 of the Income Tax Act relating to tax in the case of block

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 Court of Appeal observed that though there is no statutory definition of 'plant' for the purpose of section 41 of the Finance Act, 1971, from a series of cases decided, following principles emerge to be settled law.'(i)

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

The Commissioner of Income-tax Vs. Synergy Financial Exchange Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43B and 43(3); Provident Fund Act; Finance Act, 1995; Finance (Amendment) Act, 2003

Reported in : (2006)205CTR(Mad)481; [2007]288ITR366(Mad); (2006)4MLJ1411

Section 32(1) of the Act, which was in force during the assessment year in question and omitted by Finance Act, 1995, with effect from 1.4.1996, where the actual cost of any machinery or plant does not exceed five thousand … Definitions of certain terms relevant to income from profits and gains of business or profession.--In Sections 28 to 41 and in this section, unless the context otherwise requires-- (1) to (2) ...(3) 'plant' includes ships, vehicles, books,

P. Sunil Vs. State of Kerala and anr.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 230A and 230A(1); Kerala Registration Rules - Rule 30

Reported in : [1999]236ITR935(Ker)

reasons to be stated hereinafter.4. Section 230A(1) of the Income-tax Act as amended by Section 41 of the Finance Act, 1995, reads :'230A. (1) Notwithstanding anything contained in any other law for the time being in force, where any

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Subject : Direct Taxation

Reported in : (1997)224ITR473AAR

No. 10 of 1996 Vs.Income Tax Act, 1961 - Sections 161, 161(1), 161(1A), 164, 164(4), 166 and 245Q; Finance Act, 1970; Double Taxation Avoidance Agreement - Articles 5, 10(2) and 13 CIT (Addl.) v. Surat Art Silk Cloth … well as tax residency certificates to the effect that the companies are resident in Mauritius under the Income-tax Act, 1995, of that country have been filed and they are, therefore, resident in Mauritius. They are not liable to … reached the hands of the assessee." 79. The Supreme Court did not agree. It explained the scope of Section 41 of the Indian Income-tax Act, 1922 (to which Section 161 of the Act corresponds) thus (at page 682)

industrial Finance Corpn. of Vs. Joint/Additional Commissioner

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2006)99ITD639(Delhi)

129.0618 crores created during the year. The assessee argued that provisions of Section 41(4A) were inserted by the Finance Act, 1997 w.e.f. 1-4-1998 only. The learned Assessing Officer held that by merely showing first the amount of Rs. … Section 143(3) for assessment year 1996-97, assessment order under Section 143(3) read with Section 147 for assessment year 1995-96 and assessment order under Section 143(3) for assessment year 1998-99. The fourth appeal ITA No. 3250(Del.)/2002 has been

Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court : Supreme Court of India

Subject : Land Acquisition

The judgment in Surat Art Silk .................................................................................................................. 11 D. Relevant changes brought about to the IT Act, 1961 (Finance Act, 1983 and 1991) ............................... 17 E. The judgment in Thanthi Trust .................................................................................................................. 18 F. Deletion of certain exemptions: … Economic, Social and Cultural Rights, 1966 and relied on Sri. P.G. Gupta v. State of Gujarat & Ors. 1995 (1) SCALE653- where a Bench of three Judges of this Court had considered the mandate of the human … scope of the trust. 39 (2008) 13 SCC140 2018 SccOnline Delhi 7536 41 The High Court had relied upon the ratio in Shri Ramtanu Co-operative … The judgment in Thanthi Trust .................................................................................................................. 18 F. Deletion of certain exemptions: Section 10 (20A) and Section 10 (23) ................................................... 20 G. Amendments to Section