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Coromandel Fertilisers Limited Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2004)90ITD344(Hyd.)

has brought in the necessary amendment under Section 43(6) (c) (i) (C) with effect from 1.4.2000 by the Finance Act, 1999. Section 43(6) (c) (i) (C) provides for the decrease, in a slump sale, of the w.d.v. of the assets … 43(1) of the Act and allowance of interest on borrowings for expansion of the existing business under Section 36(1) (iii) of the Act, as these concepts are mutually exclusive. The Hon. Tribunal in the own case of

Commercial Tax Officer Vs. C.P.D. Computer Peripheral Devices Private ...

Court : Chennai

Subject : Sales Tax

Acts : Tamil Nadu Taxation Special Tribunal Act, 1992 - Sections 2, 6, 23, 24, 24(9) and 42; Tamil Nadu Taxation Special Tribunal (Repeal) Act, 2004 - Sections 3; Tamil Nadu General Sales Tax Act, 1959 - Sections 2, 3, 3A, 3B, 3C, 3D, 3E, 4, 7A, 11, 12, 16, 16(5), 16(6), 30, 31, 31A, 32, 32(2), 33, 34, 34(2), 35, 36, 36(2), 36(3), 36(3A), 36(6), 37, 37(1), 38, 38A, 39 and 52; Central Sales Tax Act, 1956 - Sections 9(2); Tamil Nadu General Sales Tax (Seventh Amendment) Act, 1986 - Sections 3; Tamil Nadu Additional Sales Tax Act, 1970; Tamil Nadu Sales Tax (Surcharge) Act, 1971; Tamil Nadu Taxation Special Tribunal (Amendment) Act, 2005; Finance Act, 1999 - Sections 3, 7, 10C and 89; Income Tax Act - Sections 2 and 10B; Extra Provincial Jurisdiction Act, 1947 - Sections 4; Merged State's Law

Reported in : (2009)21VST581(Mad)

insertion or omission. If such amendments are made, they can be regarded as textual amendments. For example, the Finance Act, 1999 made certain extensive amendments to the Income-tax Act. Section 3 of the Finance Act, 1999 provides for amendment … authorities concerned. As against the order passed under Sections 31 and 31A, a further appeal was provided under Section 36 to the Tamil Nadu Sales Tax Appellate Tribunal. Section 37 provided for a statutory appeal to the High

Commissioner of Income Tax Vs. Kerala Financial Corporation

Court : Kerala

Subject : Direct Taxation

Acts : State Financial Corporation Act; Income Tax Act, 1961 - Sections 36(1) and 41(4A); Finance Act, 1997

Reported in : (2008)220CTR(Ker)399

of the fact that such a requirement was made expressly clear by an amendment brought about by the Finance Act, 1997, we have no hesitation to hold that such a requirement made explicitly clear both by amendment to … Jagan, JJ] Post of Pharmacist in Homeopathy Subordinate Service - Special Rules for Kerala Homeopathy Subordinate Service Rules, 1999 introducing new qualifications Vacancy arising subsequent to coming into force of the said special rules Held, Vacancies have … 1996-97.3. The assessee, in the returns filed, had claimed for deductions under Section 36(1)(viii) of the IT Act ('Act' for short), in respect of 'special

Jct Ltd. Vs. Deputy Commissioner of Income Tax and anr.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(2), 35, 36(1), 37, 43 and 43(1); ;Finance Act, 1986; ;Finance Act, 2003; ;Companies Act, 1948 - Section 65

Reported in : (2005)194CTR(Cal)509,[2005]276ITR115(Cal)

on the basis of Expln. 8 to Section 43(1) as was inserted in the IT Act, 1961 through Finance Act, 1986 w.e.f. 1st April, 1974, applicable in relation to the asst. yr. 1974-75 and subsequent years. The object … of plants and machineries until the plants and machineries are first put to use, could be deductible under Section 36(1)(iii) or Section 37 of the IT Act, 1961 in computing the assessee's income, as revenue expenditure, though capitalized

Jct Ltd. Vs. Dy Cit and anr.

Court : Kolkata

Subject : Direct Taxation

Reported in : [2005]144TAXMAN435(Cal)

the basis of Explanation. 8 to section 43(1) as was inserted in the Income Tax Act, 1961 through Finance Act, 1986 with effect from 1-4-1974, applicable in relation to the assessment year 1974-75 and subsequent years. The object … of plants and machineries until the plants and machineries are first put to use, could be deductible under section 36(1)(iii) or section 37 of the Income Tax Act, 1961 in computing the assessee's income, as revenue expenditure, though

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

House of Lords in the case of Lupton. In that case forward stripping had been banned by the Finance Act, 1960, but the House of Lords did not think that the subsequent amendment should prejudice or cloud the … had entered into a pre-meditated and pre-ordained transaction. His client invested in the units of mutual fund in 1999 and sold them in 2001. Yet the loss was disallowed. At any rate, there were no parameters relating … the Finance Act, 2001 with retrospective effect from 1.4.1962; Explanation to Section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1.4.1987 and so on. … in the case of the assessee in relation to assessment orders Under Section 143(3) for assessment years 2001-2002 and 2000-2001 respectively. These appeals have been

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96ITD1(Mum.)

House of Lords in the case of Lupton. In that case forward stripping had been banned by the Finance Act, 1960, but the House of Lords did not think that the subsequent amendment should prejudice or cloud the … had entered into a pre-meditated and pre-ordained transaction. His client invested in the units of mutual fund in 1999 and sold them in 2001. Yet the loss was disallowed. At any rate, there were no parameters relating … the Finance Act, 2001 with retrospective effect from 1-4-1962; Explanation to section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1-4-1987 and so on. … in the case of the assessee in relation to assessment orders under section 143(3) for assessment years 2001-2002 and 2000-2001 respectively. These appeals have been

All India State Bank Officers Federation and State Bank of India Offic ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 4, 5(1), 10, 10(14), 10(26), 14, 15, 16, 17(1), 17(2), 17(3), 80B, 80CCD, 80D and 119 - Schedule - Rules 6, 11(2) and 11(4); Finance Act, 1988; Finance Act, 2000; Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948 - Sections 3G; Employees' Provident Funds and Miscellaneous Provisions Act, 1952 - Sections 6C; Insurance Regulatory and Development Authority Act, 1999 - Sections 3(1) and 36(1); Income Tax Act, 1922 - Sections 4(3) and 7(1); Madras General Sales Tax Act - Sections 5; Tamil Nadu Sales Tax Act; Constitution of India - Articles 14 and 21

Reported in : (2006)206CTR(Bom)562; [2007]288ITR614(Bom)

total income shall be classified under the following heads of income:(A) Salaries (B) Interest on securities (omitted by Finance Act, 1988 w.e.f. 1-4-1989)(C) Income from house property (D) Profits and gains of business or profession (E) Capital gains … Regulatory and Development Authority established under Sub-section (1) of Section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) for the purposes of Clause (ib) of Sub-section (1) of Section 36;(iv) any sum paid

C.I.T. Kolkata Ii Vs. Tata Tea Ltd.

Court : Kolkata

Subject : Direct Taxation

a network system should be allowed as an expenditure as was the intention of the legislation in the Finance Act, 1999 by inserting section 36(1)(xi).” Thus the expenditure was for replacement of a system within a larger system which

Shri Rama Multi Tech Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)92TTJ(Ahd.)568

appellant that the amendment to Section 36(1)(iii) is w.e.f. 1st April, 2004, which has been introduced by the Finance Act, 2003, which is reproduced as under : 'Provided that any amount of the interest paid in respect of … this regard, he referred to pp. 265 to 269 of the compilation, wherein calculations for asst. yrs. 1998-99, 1999-2000 and 2000-01 have been shown. Revenue has not disputed item No. 4 at p.267, wherein last year's yield