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Plastiblends India Limited a Company Incorporated Under the Companies ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 5, 14, 28, 29, 30 to 43D, 66 to 80, 80A to 80B, 80B(5), 80C to 80U, 143(1) and 260A; Companies Act, 1956; Finance Act, 2001 - Sections 32(1); ;Finance Act, 2003 - Sections 36(1); Customs Act, 1962 - Sections 75

Reported in : 2009(111)BomLR4592; (2009)227CTR(Bom)1; [2009]318ITR352(Bom); 2010(1)MhLj526; [2009]185TAXMAN187(Bom)

assessee when not claimed by the assessee.27. Mr. Dastur referred to Explanation 5 to Section 32(1) inserted by Finance Act 2001 with effect from 1-4-2002, which reads thus:Explanation 5. - For the removal of doubts, it is hereby … and compounds at its units situated at Daman.4. The assessment year [`AY' for short] involved herein is AY 1997-1998.5. In the assessment year in question, the assessee filed its return of income without claiming depreciation. For that

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

8, [2009] STC 452. For present purposes, however, it is sufficient to note that section 47 of the Finance Act 1997 curtailed the period for a claim for repayment of VAT from six to three years, with retrospective effect, … FA 2007") to exclude DMG mistake claims, as these provisions purported to curtail the extended limitation period under section 32(1)(c) of the Limitation Act 1980 without notice and without providing any transitional arrangements to protect the right under

Kanpur Income Tax Bar Association, Aykar Bhavan, Civil Lines, Kanpur a ...

Court : Allahabad

Subject : Civil

Acts : Constitution of India - Articles 32, 51A and 226; Finance Act, 1997 - Sections 62 to 78; Code of Criminal Procedure (CrPC) - Sections 340, 397, 401 and 482

Reported in : 1998(2)AWC1008; [1999]236ITR848(All)

of India introduced a Voluntary Disclosure of Income Scheme (V.D.I.S.) by enacting Sections 62 to 78 in the Finance Act. 1997. Under the Scheme, any person could make a declaration of his income for any year and pay tax … revenue for the Government, the Government of India introduced a Voluntary Disclosure of Income Scheme (V.D.I.S.) by enacting Sections 62 to 78 in the Finance Act. 1997. Under the Scheme, any person could make a declaration of … such person or determinate class of persons, in this Court under Article 32 seeking judicial redress for the legal wrong or injury caused to such

ito Vs. Selchem Engineers (P) Ltd.

Court : Delhi

Subject : Direct Taxation

Reported in : (2004)84TTJ(Del)101

'the impugned claim of the assessed') was disallowed by the assessing officer keeping in view the provisions of section 32(2) as amended by Finance (No. 2) Act, 1996, with effect from 1-4-1997. The learned Commissioner (Appeals), however, allowed

D.C.i.T. Vs. the Andhra Petrochemicals Ltd.

Court : Income Tax Appellate Tribunal ITAT Vizag

Subject : Direct Taxation

in the case of Dredging Corporation of India Limited. It is necessary to notice here that by the Finance Act 2002, the Legislature amended the provisions of Section 43A of the Act with effect from 1.4.2003 whereby actual … the interpretation of Section 43A(1) of the Income Tax Act with reference to the entitlement of depreciation under Section 32 of the of the Act.3. The facts of the case revolve in a narrow compass. The assessee company … that the limitation of eight years shall start from the assessment year 1997-98, in which event the depreciation of the assessment year 1994-95 can be

Sterlite Industries (India) Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2006)102TTJ(Mum.)53

a straight line method of depreciation. He further pointed out that proviso appended in Section 115JA by the Finance Act, 1997, was not available in asst. yr. 1989-90 vide which depreciation has to be calculated on the same method … were in the nature of staff welfare expenses. In the alternative, in view of the proviso to the Section 32 of the Act, during the relevant year, the actual cost of any machinery or plant, if it does

Secy. Federn. of Bus-operators Assn. of T.N. Vs. Union of India (Uoi)

Court : Chennai

Subject : Service TaxMotor Vehicles

Acts : Finance Act, 1994 - Sections 35(38), 65, 65(38), 65(48), 65(50), 65(51), 65(52), 66, 66(3) and 67; Motor Vehicles Act, 1988 - Sections 2, 2(7), 2(22), 2(25), 2(40), 2(43), 49, 51, 58(1), 58(2), 65, 65(32), 65(38), 65(44), 65(48), 65(50) to 65(52), 65(62), 67, 68, 70, 71, 72, 72(2), 72(9), 73, 74, 80, 81, 82, 83, 84, 85, 86, 87(1), 88(8), 88(9), 88(11), 88(14) and 89; Motor Vehicles Act - Sections 63(1), 63(6) and 68; Central Excise Act, 1944; Finance (No. 2) (Amendment) Act, 1996; Finance (No. 2) (Amendment) Act, 1997; Finance (No. 2) (Amendment) Act, 1998; The Haryana Passengers and Goods Taxation Act; Government of India Act, 1935 - Sections 100; Expenditure Tax Act, 1987; Motor Vehicles Rules - Rule 82 to 85 and 128; Motor Vehicles Permit for All India Tours Rules, 1993; Fina

Reported in : 2001(134)ELT618(Mad); 2006[2]STR411; [2007]6STT49

including 'Advertising Agency', 'Courier Agencies' and 'Pager Services'. Further widening was effected by including 12 additional services in Finance Act, 1997. Ultimately, in Finance (No. 2) Act, 1998, 12 more 'services' were defined under Section 65(48) of the Finance

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 … CCE Vs. Sai Sahmita Storages Ltd., (2011(23) L.T.R. 341(A.P.)); (d) Bannari Amman Sugars Ltd. Vs. CCE, (2010(250) ELT 326 (Kar); (e) CCE New Delhi Vs. Hindustan Sanitary-ware and Industries Ltd. (2002(145) ELT (SC)); (f) Orders of the

Hotel Dhanolti Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)82ITD821(Delhi)

depreciation.4. The AO considered the submissions made and referring to the provisions of Section 32(2) as amended by Finance Act, 1996, w.e.f. 1st April, 1997, he opined that the income under the head "Capital gains" could not be

Commissioner of Income Tax 4 Vs. Techno Shares and Stocks Limited and ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(13), 2(36), 32, 32(1) and 47; Indian Easements Act, 1882 - Sections 52; Indian Contract Act, 1872; Industries (Development and Regulation) Act, 1951 - Sections 11; Central Excise Act, 1944 - Sections 6; Securities Contracts (Regulation) Act, 1956 - Sections 17; Banking Regulation Act, 1949 - Sections 22; Cantonments Act, 2006; Food Safety and Standards Act, 2006 - Sections 31; Insecticides Act, 1968 - Sections 13; Off-shore Areas Mineral (Development and Regulation) Act, 2002; Bombay Prohibition Act, 1949 - Sections 31; Patents Act, 1970; Copyrights Act, 1957; Trade Marks Act 1999; Bombay Shops and Establishments Act, 1948 - Sections 2(4); Societies Registration Act, 1860; Maharashtra Rent Control Act, 1999 - Sections 3(1)

Reported in : 2009(111)BomLR3801; (2009)225CTR(Bom)337; [2009]184TAXMAN103(Bom)

said intention has been reiterated in the Memorandum explaining the amendment to Section 32 of the Act by Finance Act, 1997. Accordingly, it is submitted that the BSE card being a business or commercial right, the Tribunal has rightly