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Everplus Securities and Finance Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2006)101ITD151(Delhi)

the total income of a previous year of any person. Section 115-O, which has been inserted by the Finance Act, 1997, provides the provision relating to tax on distributed profits by way of dividends of domestic companies. Sub-section (5) … included as 'income from other sources'. In such situation, when no dividend income was earned, the deduction under Section 57(iii) was still admissible in view of the judgment of the Hon'ble Supreme Court in the case of CIT

Thane Belapur Industries Association Vs. Union of India and ors.

Court : Delhi

Subject : Customs

Acts : Constitution of India, 1950 - Article 226; Central Excise Act, 1944 - Sections 14; Central Excise Rules, 1944 - Rules 57-A to 57-J and 57-Q to 57-U; Finance Act, 1997 - Sections 83

Reported in : 1998(102)ELT258(Del)

scheme of MODVAT to capital goods also by enacting Rules 57Q to 57U. By Section 83 of the Finance Act, 1997, Section 14 was introduced in the Central Excise Act, 1944. Under this provision where the department is of the … follow the prescribed procedure and maintain the requisite records. The scheme has to be found contained in Rules 57A to 57J of the Central Excise Rules, 1944.2.1. With effect from April, 1994, the Central Govt extended the

Punjab State Industrial Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2007)292ITR268(Chd.)

gross amount of such dividends.15. It may be pertinent to mention that Section 80M was omitted by the Finance Act, 1997 (26 of 1997) w.e.f. 1st April, 1998 in consequence of insertion of Section 10(33) of the IT Act, … has not been considered. It was further contended that proportionate management expenses have got to be deducted under Section 57 of the IT Act, 1961 10. In counter-reply, the learned Counsel for the assessee contended that the decision

Macintosh Finance Estates Ltd. Vs. Additional Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

made exempt under Section 10(33) from 1-6-1997 being the date from which Section 115-0 was inserted by the Finance Act, 1997. Once we find that interest expenses is an allowable expenditure under the head Income from other sources', it … is also held by him that since the dividend income is exempt, the interest is not allowable under Section 57 also. For these reasons, the assessing officer disallowed the interest expenses ofs. 44.19 lakhs. On appeal, learned Commissioner

Coral Cosmetics Ltd. Vs. Union of India (Uoi)

Court : Mumbai

Subject : Excise

Acts : Finance Act, 1999 - Sections 131 and 132; Central Excise Act, 1944 - Sections 4, 37 and 37(2); Central Excise Rules, 1944; Central Excise (Amendment) Rules, 1997 - Rule 57F and 57F(17); Companies Act, 1956; Customs Tariff Act, 1975 - Sections 3; Central Excise Tariff Act, 1985; Constitution of India - Articles 14, 19(1) and 141

Reported in : 2009[16]STR371

1995. By Section 132 of the Finance Act, 1999, Sub-rule 57-F(17) as inserted by Central Excise (Amendment) Rules, 1997 came to be validated from 1st March, 1997 and Clause (e) of Sub-rule (17) inserted by the Central … V.C. Daga, J.1. The petitioners seek to challenge the constitutional validity of Section 131 and 132 of the Finance Act, 1999. By Section 131 of the Finance Act, Clause (xxviii) was inserted in Section 37(b) of the Central

Vijay Madanlal Choudhary Vs. Union Of India

Court : Supreme Court of India

Subject : Land Acquisition

twin conditions. The second situation is said to be even more damaging given that the substitution by the Finance Act, 2018 is targeted only to this classification of Part-A of the Schedule, since the Court in the reported … a search or a seizure to be reported to the Adjudicating Authority, 57 Sakiri Vasu vs. State of Uttar Pradesh & Ors., (2008) 2 SCC409(paras … Consideration • The 2002 Act 19-22 • Preamble of the 2002 Act 23-24 • Definition Clause 25-36 • Section 3 of the 2002 Act 37-55 • Section 5 of the 2002 Act 56-70 • Section 8 of

Dcit Vs. S.G. Investments and Industries

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2004)89ITD44(Kol.)

of India." 10. Dividend income is exempt in view of Section 10(33) inserted from 1st April, 1998, by Finance Act, 1997. The exemption of dividend from inclusion in the total income is coupled with Section 155-O requiring the company … whether shares were held by the assessee as investment or stock-in-trade as provided in Section 56 of the Act.Section 57 of the Act provides for certain deductions in computing the income chargeable under the head "Income from other

M/S.Rural Electrification Corporation Ltd. Vs. Commissioner of Income ...

Court : Authority for Advance Rulings

Subject : Direct Taxation

Matched in: Advocate Present for the Applicant Mr. Pradeep Dinodia, FCA Mr. D.S.Ahluwalia, GM, REC Mr. Rakesh Sareen, DGM(Finance)REC Mr. Murlidharan, CM(FandA), REC Present for the Department Mr. S.D.Kapila, Advocate.

A.H. Baldota Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)103TTJ(Mum.)517

the same has to be disallowed. He also submitted that Section 14A was introduced in the statute by Finance Act, 2001, w.r.e.f. 1st April, 1962 making it possible for the AO to disallow claim of expenditure incurred in … however, disallowed the payment of interest on the grounds that : (i) Interest payment cannot be allowed under Section 57 because it was not related to earning any interest. The loan taken from M/s Greater Bombay Co-op. Bank … (+) 433520 (+)571710Interest payment disallowed 537771 479045395510 3. For the asst. yr. 1997-98, the return of income was filed on 30th Nov., 1998 on a

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

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

short issue in this appeal is whether the levy of surcharge in terms of the provisions of the Finance Act, 2002, is valid in a block assessment made under Section 158BC of the Income-tax Act. The tax has … by Hon'ble Supreme Court Justice Mr. S. Ranganathan) Vol. I at page 57 under Section 38 with the head note 'Retroactive Legislation' and Chatuvedi & … rate of surcharge is to be adopted as applicable to the assessment year 1996-97 or the assessment year 1997-98, the rate of surcharge being different for the two years? The provisions of Section 113 or the provisions