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Cadell Weaving Mill Co. P. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 2(14), 2(24), 2(47), 10, 10(3), 10(13), 14, 17(3), 28, 41, 45 to 55, 55(2), 56, 59, 115J and 253; Bombay Rent Act; Finance Act, 1987 - Sections 55(2); Direct Tax Laws (Amendment) Act, 1989

Reported in : 2001(3)ALLMR108; (2001)166CTR(Bom)7; [2001]249ITR265(Bom)

of a motor car used for personal purposes would result in a revenue income. That, even after the Finance Act, 1994, consideration arising from the transfer of tenancy in cases where the tenant had no right to sublet, … counsel appearing on behalf of the Department in I.T.A. No. 262 of 2000, has contended that tenancy rights surrendered to the landlord were valuable rights. … the rate of 35 per cent, then there was no point in the Legislature bringing the amendment in Section 55 with effect from April 1, 1995, under which the cost of acquisition of a capital asset could be

Commissioner of Income-tax, Ghaziabad Vs. Simbhaoli Industries (P.) Lt ...

Court : Allahabad

Subject : Direct Taxation

CIT v. Poonam Chand Trilok Chand [1976] 105 ITR 618 (All.); and (5) Union of India v. Kamlakshi Finance Corporation Ltd. 1991 (55) ELT 433 (SC). 9. Lastly, he made a request to dismiss the appeal filed … Satish Chandra, J. 1. The present appeal is filed by the department under Section-260-A of the Income Tax Act against the judgment and order dated 16.01.2001, passed by the Income Tax Appellate Tribunal, Delhi in Appeal No.6408

Fabworth (India) Ltd. and Vs. Commissioner of Central Excise,

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Excise

Reported in : (2002)(147)ELT478Tri(Mum.)bai

proviso to Section 3(1) of the Central Excise Act, as it stood prior to its amendment by the Finance Act 2000, reads as under:- Provided that the duties of excise which shall be levied and collected on any excisable … of the Schedule to the Central Excise Tariff Act 1985), wool-silk fabrics (SH 5111.22) and poly-wool fabrics (SH 5513.22). WOOLWORTH'S 100% EOU at Butibori is engaged in the manufacture of various kinds of yarns viz. all-wool yarn

Ansal Properties and Industries Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2008)301ITR285(Delhi)

this purpose, he relied upon the following decisions:Gomti Credits (P) Ltd. v. DCIT He further submitted that by Finance Act 1997, it has been provided that w.e.f. 1.4.1988, cost of acquisition in case of transfer of a right … subject. The issue to be decided is whether the amount received pursuant to the agreement dated 30th October 2000 between DCM and the appellant is to be treated as capital receipt or revenue receipt.All receipts by assessee … right to manufacture, produce or process an article or thing recourse to Section 55(2) can be made only from assessment year 1998-99 in respect of

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

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

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

by the Courts over the years, has found statutory recognition in Section 2(42C), which was inserted by the Finance Act, 1999 with effect from 1.4.2000. He also invited our attention to Section 50B providing for computation of capital … was plugged by the Amendment Act of 1949. Therefore, the Supreme Court in CIT v. Ajax Products Ltd. 55 ITR 741 held that the amendment made in 1949 only removed one of the conditions for the exigibility

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)11TTJ(Mum.)502

inflating their claims in respect of head office expenses. With a view to getting over these difficulties, the Finance Act has inserted a new Section 44C in the IT Act laying down certain ceiling limits for the deduction … unless the assets are revalued upward. The legislature has now removed this difficulty by inserting w.e.f. 1st April, 2000, Section 50B of the Act providing for the levy of capital gains in case of slump sale and also … adopting fair market value of the land as on 1st April, 1981 as deemed cost in terms of Section 55(2)(b) and giving the benefit of indexation; on the balance consideration, he had computed the short-term capital gains by

Shervani Industrial Syndicate Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Allahabad

Subject : Direct Taxation

Reported in : (2006)99TTJ(All.)123

the basis of such an advice being the express provision which got inserted in Section 55(2)(a) by the Finance Act, 2001. 6. It is further submitted that the said amendment was brought in terms of Clause (32) of … property assets" as per the agreement dt. 25th Nov., 1998). The said return was revised on 30th Nov., 2000 (hereinafter referred to as second return), to make an additional claim for expenditure relating to this year, but

Mahanagar Telephone Nigam Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2006)100TTJ(Delhi)1

specified for allowance on the deduction under Section 80-IA(4C). Section 80-IA(4C) was inserted in the Act by the Finance Act, 1997 with retrospective effect from 1st April, 1996. The Explanatory Notes on the provisions of the Finance Act, … in the case of Videsh Sanchar Nigam Ltd. v. Jt CIT in ITA No. 1434/Mum/1999, dt. 14th Sept., 2000 [reported at (2000) 69 TTJ (Mumbai) 882--Ed.]. However, while giving relief to the appellant-company, the Tribunal directed the … v. CIT (1979) 123 ITR 11 (Ker)CIT v. Ganga Sugar Corporation Ltd. 55. On the basis of the above arguments, the contention of the appellant

Kunal Anand Vs. State of Jharkhand and Ors

Court : Jharkhand

Subject : Land Acquisition

Games­ 2007, a meeting was held on 24.09.2004 in presence of the then Chief Minister­Housing Minister, Development Commissioner, Finance Secretary, Housing Secretary, Managing Director of Jharkhand State Housing Board and others. In the said meeting, a decision … wholly without jurisdiction, in as much as, Section 24(3)(b) and Section 27 of the Jharkhand State Housing Board Act, 2000 are not applicable in the facts of the present case. A further prayer has been made seeking quashing … Govt. of Jharkhand, Ranchi & Others. … … Respondents with W.P.(C) No. 5516 of 2011 M/s Kamla Aditya Construction Pvt. Limited represented through its authorized

M/S Kamla Aditya Construction Vs. State of Jharkhand and Ors

Court : Jharkhand

Subject : Land Acquisition

Games­ 2007, a meeting was held on 24.09.2004 in presence of the then Chief Minister­Housing Minister, Development Commissioner, Finance Secretary, Housing Secretary, Managing Director of Jharkhand State Housing Board and others. In the said meeting, a decision … wholly without jurisdiction, in as much as, Section 24(3)(b) and Section 27 of the Jharkhand State Housing Board Act, 2000 are not applicable in the facts of the present case. A further prayer has been made seeking quashing … Govt. of Jharkhand, Ranchi & Others. … … Respondents with W.P.(C) No. 5516 of 2011 M/s Kamla Aditya Construction Pvt. Limited represented through its authorized