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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)

36(l)(iii) or 37 cannot be claimed which stands clarified by the insertion of the proviso therein under the Finance Act, 2003. As such the assessee cannot claim any benefit of Section 36(l)(iii) or Section 37 in this case. The

Committee of Management, Maharaja Harish Chandra Post Graduate College ...

Court : Allahabad

Subject : Constitution

Acts : Uttar Pradesh State Universities Act, 1973 - Sections 37 and 37(2); Uttar Pradesh State Universities Ordinance; Constitution of India - Article 226

Reported in : 2005(2)ESC1427

for the period 1-7-2002 to 30-6-2003 -Annexure-10 to the writ petition) for the first time, referred to Self Financing Scheme. Perusal of said letter dated 20-7-2002 shows that it refers to G.O. dated 11-11-1997 dealing with Self … an application for seeking recognition/affiliation to run 'post graduate classes' in the subjects of 'Sociology' and 'Economics' under Section 37(2) of the Act on October 18, 1995 as required under law. 4. Initially, as provided under the Act

Commissioner of Income Tax, Delhi Vs. Woodward Governor India P. Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 29, 30 to 43D, 48, 50, 56, 143, 143(1), 143(2), 144, 145, 145(1), 145(2) and 145(3); Finance Act, 2002; Companies Act - Sections 209; Finance Act, 1967

Reported in : (2009)223CTR(SC)1; [2009]312ITR254(SC); JT2009(5)SC378; 2009(5)SCALE198; (2009)13SCC1; [2009]179TAXMAN326(SC); 2009(3)LC1519(SC); [2009] 5 SCR 738

cases, we are required to consider the provisions of Section 43(1), 43A (both, before and after Amendment vide Finance Act, 2002).Facts in M/s Woodward Governor India P. Ltd.[Civil Appeal arising out of SLP(C) No. 593/08]- REVENUE ACCOUNT CASE:5. … the rate of exchange in respect of loans taken for revenue purposes could be allowed as deduction under Section 37(1) in the year of fluctuation in the rate of exchange or whether the same could only be allowed

Maharashtra State Electricity Distribution Company Limited Vs. Maharas ...

Court : Supreme Court of India

Subject : Land Acquisition

MAHARASHTRA ELECTRICITY REGULATORY COMMISSION & ORS. .…Respondent(s) JUDGMENT Indira Banerjee, J.This appeal, under Section 125 of the Electricity Act 2003, is against a judgment and order dated 27th April 2021 passed by the Appellate Tribunal for Electricity, hereinafter … Civil Procedure, 1908 (hereinafter referred to as “CPC”). Section 100 of the 37 CPC mandates that the first Appellate Court is the final Court of … It is wrong to equate LPS with carrying cost or actual cost incurred because any interest paid for finances raised cannot have any nexus to the LPS as it is not the same as a loan advanced,

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

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 … goods existed.16. Mr. Setalwad further submits that in Samtel India Ltd. v. Commissioner of Central Excise, Jaipur : 2003 (155) E.L.T. 14 (S.C) the Supreme Court was dealing with two appeals where the Appellants had been denied

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 capital … assessee also submitted that the allowability of expenditure has to be considered with reference to the provisions of Section 37 of the Act first and thereafter if the expenditure is found to be in nature of capital expenditure,

Vodafone International Holdings B.V., a Company Incorporated Under the ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 1(2), 2, 2(17), 2(23A), 2(31), 2(37), 2(47), 4, 4(1), 4(2), 5(2), 9, 9(1), 23(1), 23(3), 24, 26, 64, 64(2), 173, 191, 192(1A), 194, 194C(1), 195, 195(1), 195(2), 195(3), 197, 199, 200, 201, 203A, 221, 221(1), 201(1A), 245S, 246A and 271C; Foreign Contribution Regulation Act; Indian Official Secrets Act; Constitution Act; Information Technology Act; Indian Passport Act; Indian Income Tax Act, 1922 - Sections 18, 19 and 42; Finance Act, 2008; Indian Telegraph Act, 1885; MRTP Act - Sections 33; Finance Act, 2002 - Sections 201; Companies Act; Income Tax (Amendment) Act, 2008 - Sections 191 and 201; Income Tax (Amendment) Act, 2002; Income Tax (Amendment) Act, 2003; Income Tax Rules - Rules 30 and 31A, 41E; Constitution of India - Articles 14, 19(1

Reported in : 2009(4)BomCR258; (2008)220CTR(Bom)649; [2009]311ITR46(Bom)

that the liability was extended not by way of clarification but by way of a amendment to the Finance Act with retrospective effect. It is well established that while it is permissible for the Legislature to retrospectively legislate, … The words 'referred to in Section 200' were inserted after 'such person'. A consequent amendment was made in 2003 by the addition of the Explanation to Section 191).iii. Failure to deduct or to withhold tax is visited … : 2001(128)ELT21(SC) .Tata Consultancy Services v. St. of A.P. air 2005 SC 371CIT v. D.P. Sandu Bros : (2005)193CTR(SC)578 . . Bharat Sanchar Nigam Ltd.

Checkmate Services P Ltd Vs. Commissioner Of Income Tax-i

Court : Supreme Court of India

Subject : Land Acquisition

cash, the sum has been realised within fifteen days from the due date." By Section 21 of the Finance Act, 2003, the above second proviso was omitted. Thereafter, by Finance Act, 2021 the following Explanation 5 was added, w.e.f. … the IT Act was such that business income or its deductions were spelt out under Section 36, and Section 37 was a residual deduction clause whereby expenditures other than those falling within Sections 28-36, expressly laid out for

Commissioner of Income Tax Vs. Woodward Governor India Pvt. Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 33, 37, 43, 43A, 43(1), 43(2), 145, 145(1) and 145(2); Companies Act - Sections 209(3); Income Tax Act, 1922 - Sections 10(2) and 10(5); Finance Act, 1967; Finance Act, 2002

Reported in : (2007)210CTR(Del)354; 142(2007)DLT650; [2007]294ITR451(Delhi)

of acquisition to provide for the subsequent revisions to the actual cost. Section 43-A was inserted by the Finance Act, 1967 with effect from 1-4-1967. In the explanatory process contained in the Bill preceding the Act it was … increase or decrease the liability on revenue account. It would qualify as business expenditure and thereforee allowable under Section 37 of the Act despite the fact that the liability has not been discharged in the concerned previous year. … from 1-4-2003 and will, accordingly, apply in relation to the assessment year 2003-04 and subsequent years.'42. Accordingly, there is no scope for entertaining the plea

Simbhaoli Sugar Mills Ltd. Vs. Asstt. Cit, Range-1

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

or Section 37 cannot be claimed which stands clarified by the insertion of the proviso therein under the Finance Act, 2003. As such, the assessee cannot claim any benefit of Section 36(1)(iii) or Section 37 in this case.14. Whereas,