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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)

in : 298 ITR 194 (SC) where it is held that the proviso inserted to Section 36(1)(iii) by Finance Act, 2003 with effect from 1-4-2004 has to be read prospectively with effect from 1-4-2004. Accordingly, Mr. Dastur submitted that … after deducting all deductions allowable under Section 30 to 43D of the Act including current depreciation allowable under Section 32 of the Act. As the assessee had computed the gross total income without deducting depreciation allowable under the

Assam Brook Ltd. Vs. Union of India (Uoi) and ors.

Court : Guwahati

Subject : ExciseCivil

Acts : Central Excise Tariff Act, 1985; Central Excise Act, 1944 - Sections 3 and 5A; Additional Duty of Excise (Goods of Special Importance) Act, 1957; Additional Duties of Excise (Textile and Textile Articles) Act, 1978; Finance Act, 1978 - Sections 32(4); Finance Act, 2002; Finance Act, 2003 - Sections 157 and 157(3); Central Excise Rules, 1944 - Rule 8 and 8(1); Punjab Sales Tax Act

way of surcharge, at the rate of Rs. 1 per kg. was introduced by Section 157 of the Finance Act, 2003. The duty imposed, thereafter, was included in the First Schedule to the Tariff Act of 1985. The demand … The Apex Court answered the question in the negative holding that in view of the provisions of Section 32(4) of the Finance Act, 1978, the source of power to exempt the special duty would be traceable to

Assistant Commissioner of Income-tax Vs. Ravi Construction

Court : Gujarat

Subject : Direct Taxation

the CIT(A). In support of his submissions, Mr. Shah placed reliance on the following decisions; CIT v. Alagendran Finance Ltd. [2003] 264 ITR 269/[2004] 136 Taxman 165 (Mad.); CIT v. Mohta Construction Co. [2005] 273 ITR 276 … to be viewed as "block of assets" for the purpose of allowing deduction in respect of depreciation under section 32(1)(ii) of the Income-tax Act, 1961? (2) Is depreciation allowable at the rate of 100% on the centering material

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

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … are concerned was established by a group litigation order on 8 October 2003. The test claimants are all companies which belong to groups which have … 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

The Commissioner of Income-tax Vs. Synergy Financial Exchange Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43B and 43(3); Provident Fund Act; Finance Act, 1995; Finance (Amendment) Act, 2003

Reported in : (2006)205CTR(Mad)481; [2007]288ITR366(Mad); (2006)4MLJ1411

1994-95, the second proviso to Section 43-B, as then in force, of course, which stands omitted by the Finance Act, 2003 with effect from 1.4.2004, imposed a further condition that no deduction shall, in respect of any sum referred … the Appellate Tribunal is right in law in holding that the assessee is entitled to 100% depreciation under Section 32(1)(ii) of the Income-tax Act, 1961 on gas cylinders and spindles?(ii) Whether on the facts and in the circumstances

Deputy Commissioner of Income Tax, Ahmedabad Vs. Core Health Care Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43(1), 80HH, 80I, 90(2) and 260A; Finance Act, 1986 - Sections 43(1); Finance Act, 2003

Reported in : 105(2008)CLT433(SC); (2008)215CTR(SC)1; [2008]298ITR194(SC); JT2008(2)SC367; 2008(2)SCALE327; (2008)2SCC465; 2008AIRSCW1425

proviso has since been inserted in Section 36(1)(iii) of the 1961 Act. That proviso has been inserted by Finance Act, 2003 w.e.f. 1.4.2004. Hence, the said proviso will not apply to the facts of the present case. Further, in … than the cost accurately ascertained. The determination of actual cost in Section. 43(1) has relevancy in relation to Section 32(depreciation allowance); Section 32A(investment allowance), Section 33(development rebate allowance), and Section 41 (balancing charge). 'Actual cost' of an asset

Jai UshIn Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2008)117TTJ(Delhi)330

as amended by the Finance (No. 2) Act, 1996 with effect from 1-4-1997 were again amended by the Finance Act, 2001 with effect from 1-4-2002 whereby the position as it existed prior to 1-4-1997 was restored.7. In the … of auto components. A return of income for the year under consideration was filed by it on 27-11- 2003 declaring a total income of Rs. 22,03,740. In the computation of total income filed along with the said … off against the income from house property as per the provisions of Section 32(2) amended with effect from 1-4-2002. As the said amended provisions of

Jacobus Johannes Liebenberg No. and Others Vs. Bergrivier Municipality

Court : South Africa Supreme Court of Appeal

Subject : Land Acquisition

Act 32 of 2000 (the Systems Act), the Local Government: Municipal Finance Management Act 56 of 2003 (the Finance Act) (which came into operation on 1 July 2004) and lastly the Local Government: Municipal Property Rates Act 6 … of its purposes was to establish transitional rural local structures, and part VA dealt with rural local government. Section 9D provided for a framework for rural local government based on the principle that the whole of an

Maersk India Pvt. Ltd. Vs. Commissioner of Service Tax

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Service Tax

Reported in : (2007)8STR627

1994.2. The appellants have filed an application for stay of the impugned order and waiver of pre-deposit under Section 32 read with Section 86 of the Finance Act, 1994.3. Shri Rohan Shah, learned Advocate appeared for the appellants … 13% on the Service Tax alleged to have been evaded has been imposed under Section 76 of the Finance Act, 1994. A penalty of Rs. 1,000/- has been imposed under Section 77 of the Finance Act, 1994. A

Bharat Sanchar Nigam Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Subject : Sales TaxMedia and Communication

Acts : Central Sales Tax Act; Code of Civil Procedure (CPC) - Sections 11; Constitution (46th Amendment) Act, 1982; Constitution of India - Articles 14, 19(1), 32, 131, 136, 141, 226, 246(1), 248(1), 286, 366, 366(12) and 366(29A); Customs Act - Sections 2(22); Finance Act, 1994 - Sections 65(16), 65(72) and 66; Finance Act, 2002 - Sections 149(90) and 149(92); Finance Act, 2003 - Sections 159(104), 159(105), 159(110) and 159 (111); Government of India Act, 1935; Income Tax Act, 1961 - Sections 11 and 12; Kerala General Sales Tax Act, 1963; Madhya Bharat Sales Tax Act, 1950; Madhya Pradesh General Sales Tax Act - Sections 2; Madras General Sales Tax Act, 1959; Sale of Goods Act, 1930 - Sections 2(7); State Sales Tax Act; Telecom Regulatory Authority of India Act, 1997 - Sections 2; Telegr

Reported in : AIR2006SC1383; (2006)4CompLJ330(SC); (2006)201CTR(SC)346; [2006]282ITR273(SC); JT2006(3)SC114; 2006(2)SCALE752; (2006)3SCC1; [2006]145STC91(SC); 2006[2]STR161; [2006]152; [2006] 2 SCR 823

The liability of service providers to service tax was continued under Section 159(105)(110) (b) and (111) of the Finance Act, 2003. The definition of subscriber was added in sub Section (104) as meaning 'a person to whom any service … judgment. Most of the other petitioners have however approached this Court by way of writ petitions under Article 32. When the Civil Appeals and writ petitions were listed before two learned Judges, an order was passed on