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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 … which are as under- COROMANDEL FERTILISERS LIMITED INCOME TAX ASSESSMENT YEAR 1991-92 FIXED ASSETS - CEMENT PLANTFactory Buildings 7242669Furniture & Fittings 95163Office Machinery 1211892Motor Cars 16998Plant & Machinery a)Pollution Control Euip. 3155139 b)Roads, locomotives,Items costing less 47064than

Grindwell Norton Ltd. Vs. Dy. Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2004)85TTJ(Mumbai)389

in which loss was incurred was discontinued. This position in law changed only after amendment made by the Finance Act, 1999, with effect from 1-4-2000. What the assessee has done in the present case is to apply its profits … as irrecoverable. Such a proposition is totally contrary to the scheme of the Income Tax Act which under section 72 did not permit for the assessment year under appeal even set off of loss carried forward by the

Acit Vs. Goldmine Shares and Finance Pvt.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2008)113ITD209(Ahd.)

the determination is to be made.21. The provisions of Section 80IA were then divided in two parts by Finance Act, 1999 w.e.f. 1-4-2000- one, by the replaced 80IA and other, by the newly inserted Section 80IB. For material purposes … provisions of Section 71 providing for set off of loss from one had against income from another and Section 72 providing for carry forward and set off of business losses. Section 32(2) makes provision for carry forward and

Parbhudas Kishoredas Tobacco Products Ltd. and ors. Vs. Union of India ...

Court : Madhya Pradesh

Subject : Sales Tax/VAT

Reported in : (2009)20VST853(MP)

to them.3. In the year 1994, the Central Government imposed levy of service tax on various services by Finance Act of 1994. Provisions were made for levy, collection and other related matters of service tax. It is put … deals with valuation of taxable service for charging service tax. Section 68 deals with payment of service tax. Section 72 deals with taxable services. Various aspects are covered under Section 72. Clause (16) of Section 65 defines 'clearing … in the case of Laghu Udyog Bharati v. Union of India : 1999ECR53(SC) , held that the provisions of Rule 2(d)(xii) and (xvii) of the

Dabur India Limited Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 5, 6, 9, 14, 28, 29, 30 to 43D, 59, 71, 72(1), 72(2), 73(3), 80A, 80A(1), 80AB, 80B, 80B(5), 80C to 80U, 80IB, 80HHC, 143(1), 143(2) and 260A; Taxation Laws (Amendment and Miscellaneous Provisions) Act; Finance Act, 2001; Finance Act, 1988

Reported in : 219(2008)DLT152

decide in Vahid Papers Converters (supra) was, whether Explanation 5 to Section 32 of the Act inserted by Finance Act, 2001 was clarificatory in nature and hence, would apply to earlier years as well. The ITAT considered it … depreciation allowance then, the Assessee can carry forward unabsorbed depreciation subject to the provisions of Sub-section (2) of Section 72 and Sub-section (3) of Section 73 of the Act. Sections 30, 31 and 32(A) to 35(E) provide for … his predecessors in earlier assessment years i.e assessment years 1997-98, 1998-99 and 1999-2000.4. Aggrieved by the aforesaid decision of the CIT (A), the Revenue preferred

Anurag Pictures Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2004)90ITD669(Coch.)

deduction under Section 80HHC.Further resorting to the newly inserted provisions of Section 80HHF with effect from 1-4-2000 by Finance Act 1999 granting tax holidays to the assessees engaged in the cinematography business, the assessing officer held that such tax … section restricting the meaning of Section 80HHC. For the above proposition, assessee relied on the decision reported in 72 ITR 203 and also the decision of the Tribunal in the case of Tangerine Exports (49 ITD 386).9.

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

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

clear, and they mandated the levy of surcharge. In this context, he referred to the provisions of annual Finance Act, 1999, Schedule-I, which clearly mandated that the income-tax levied in terms of Section 113 shall be increased by a

Supreme Industries Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

a plain reading of this Section, we find that this Section was brought to the statute by the Finance Act, 1977 with effect from 1-4-1978to make the amalgamation of the Sick Companies with other companies workable. Under Sub-section … are estimated at Rs. 1,02,690 as on 31-3-1991. Further as per the declaration issued by the BIFR under Section 72 A(1) of the Income Tax Act dated 15-4-1994, the losses and allowances of AKSF shall be deemed to

Allied Instruments Pvt. Ltd. Vs. Commissioner of Cus. and C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Service Tax

Reported in : (2002)LC634Tri(Mum.)bai

the Central Excise authorities nor paid the service tax, hence contravening the Sections 68 and 70 of the Finance Act, 1994, directing them to furnish quarterly return in Form ST-3 and proposing recovery of interest for delayed payment … in the case of Laghu Udyog Bharti v. Union of India - 1999 (112) E.L.T.365 (S.C.) that the Rule was ultra vires of the Act … on the part of the assessee to make the return under Section 70 of any particular period. Further, Section 72 empowers the proper officer to make the assessment of the value of taxable service to the post of

Cce Vs. Chandrawati Polymers Pvt. Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Customs

Reported in : (2007)(122)ECC338

the goods to recover the dues. Section 61 of the Customs Act was amended by Section 107 of Finance Act, 1999 to the fact that where the goods remained in warehouse beyond the prescribed period, the importer is liable … warehouse for a longer period. The revenue is asked for duty as well as interest. We find that Section 72 of the Customs Act is very clear which provides that in respect of the warehoused goods which were