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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

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

Commissioner of Income Tax-i Vs. Vardhman Polytex Limited

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2008)214CTR(P& H)561; [2008]300ITR186(P& H)

of actual cost of an asset. Explanation 8 to Section 43(1) of the Act was added by the Finance Act, 1986 w.e.f. 1.4.1974. The object of the said amendment as contained in the Finance Bill, 1986 as it

Commissioner of Income Tax Vs. Jindal Exports Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(1), 2(43), 16(3), 24(2), 90, 90A, 91, 115J, 115JA, 115JA(1), 115JAA, 115JAA(1), 115JAA(2), 115JAA(4), 115JAA(5), 119, 139, 140A, 140A(1), 142, 143, 143(1), 144, 147, 148, 154, 155, 158BC, 207, 208, 209, 209(1), 210, 215(2), 234A, 234B, 234B(1), 234B(2), 234C, 234C(1), 245D(4), 245D(6), 250, 254, 260, 262, 263 and 264; Finance Act, 2006; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 1997; Finance (No. 2) Act, 1996

Reported in : (2009)221CTR(Del)8; [2009]314ITR137(Delhi); [2009]179TAXMAN391(Delhi)

Section 234C(1) of the IT Act, 1961 (hereinafter referred to as 'the said Act') by virtue of the Finance Act, 2006, w.e.f. 1st April, 2007. According to the learned Counsel for the appellant/Revenue, after the said amendments, there is

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 … this Tribunal in Vanaz Engineers Ltd. v. ITO 20 BCAJ 232 and a recent order dt. 24th Feb., 2006 of the Mumbai Bench of this Tribunal in Wockhardt Ltd. v. Asstt. CIT ITA No. 3991/Mum/2005 wherein the … that, to compute the profit derived, all deductions under Sections 29 to 43A would have to be deducted. In this connection, he referred to the

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

M.m. Aqua Technologies Ltd. Vs. Commissioner Of Income Tax, Delhi - Ii ...

Court : Supreme Court of India

Subject : Direct Taxation

In para 8, the judgment then set out Section 43B with Explanation 3C, which was inserted by the Finance Act, 2006 6 retrospectively w.e.f. 1.4.1989. The High Court concluded, based on Explanation 3C, as follows: “10. Now, Explanation 3C, … Review Petition filed by the assessee stating as follows: “8. … The clear purport of the statute i.e. Section 43-B (d) is that any amount payable towards interest liability would 7 qualify for deduction; however Explanation 3C acts

Ashok Leyland Finance Ltd. Vs. the Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2008)114TTJ(Chennai)865

given power to refer the matter to the DVO in certain cases. This provision was inserted by the Finance (No. 2) Act, 2004 with retrospective effect from 15-11-1972. The learned Judicial Member did not make any comment … assessee preferred appeal there against.It was alleged before the Commissioner (Appeals) that the prescription of Explanation 4A to Section 43(1) cannot be invoked as it was made applicable with effect from 1-10-1996 only. The prescription of Explanation

In Re: Reliance Communications Limited, a Company Incorporated Under t ...

Court : Mumbai

Subject : Company

Acts : Companies Act, 1956 - Sections 3, 21A(1), 187, 211, 211(3C), 235 to 251, 391 to 394 and 642(1); Income Tax Act, 1961 - Sections 43(1) and 43A; Finance Act, 1967; Finance Act, 2002; Companies (Accounting Standards) Rules, 2006; Companies (Accounting Standards) (Amendment) Rules, 2009

Reported in : 2009(111)BomLR3340; [2009]94SCL219(Bom)

increase/decrease of liability subsequently arising due to exchange fluctuation. Consequently, Section 43A was introduced in the Act by Finance Act, 1967 w.e.f. 1.4.1967 in the above terms to provide for adjustment in the actual cost of assets pursuant … change and the present name of the Demerged Company is 'Reliance Communications Limited' with effect from June 7, 2006. On the other hand, Resulting Company was incorporated on 16th April 2001 in the name and style of … Directors, both the Companies filed separate Company Applications being Company Application Nos. 438/2009 and 439/2009 respectively before the Company Judge for directions. On 23rd April

Jose Vs. Assistant Commissioner (Assessment)

Court : Kerala

Subject : Sales Tax

Acts : Kerala Value Added Tax Act, 2003 - Sections 2, 2(43), 3(1), 6, 6(1), 15 and 30; ;Finance Act; ;Central Sales Tax Act - Sections 14 and 15; ;Kerala Finance Act, 2006; ;Central Excises Act, 1944 - Section 15; ;Constitution of India - Articles 14, 19(1), 199, 200, 207, 207(1), 255, 286, 286(3), 304, 366 and 366(29A); ;Kerala Value Added Tax (Amendment) Act, 2006

Reported in : 2010(1)KLT816

brought out to Section 6(1)(f) of the Kerala Value Added Tax Act, 2003 as amended by the Kerala Finance Act, 2006 (Act 22/2006). Though the amended Act was passed and assent of the Governor was obtained on 24.10.2006, it … incur any infirmity under Article 19(1)(g)....'27. In State of Rajasthan v. J.K. Udaipur Udyog Ltd. (2004) 137 STC 438 the Supreme Court had occasion to consider as to whether availing of exemption scheme already involved prohibits collecting

Commissioner of Income Tax I vs M/S the India Cements Ltd

Court : Chennai

conditions of the agreement governing such loan or borrowing or .... .. Explanation 3 C: **(inserted by the Finance Act, 2006 w.e.f a deduction of any sum, being interest payable under clause (d) of this section, shall be allowed … redemption premium again Page Nos.9/41 claiming it as deduction in the computation statement defeat the very purpose of Section 43 B.(c) Depreciation on electrical machinery is allowable only at 15%. Higherrate of depreciation at the rate of 25%