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Associated Capsules Private Limited, Vs. Dy. Commissioner of Income Ta ...

Court : Mumbai

Subject : Direct Taxation

'C' of Chapter VI-A of the Act.14.Referring to the memorandum explaining the reasons for inserting Section 80IA(9) by Finance Bill, 1998 and the Board's circular No. 772 dated 23-12-1998, it is contended that the object of inserting … provides for deductions in respect of certain incomes and Part D (Sections 80U to 80VV) deals with other deductions.23.As per Section 80A(2) in part A … :1.This appeal was admitted on 23rd August 2010 on two questions of law. However, at the hearing of the appeal, the said two questions

Punjab State Industrial Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2007)292ITR268(Chd.)

expenditures. With a view to supersede the aforementioned decision of the Supreme Court, Section 80AA was inserted by Finance (No. 2) Act, 1980 with retrospective effect from 1st April, 1968 providing that deduction under Section 80M is to be allowed … of dividend income was removed. Subsequently, it was again omitted by the Finance Act, 2003 w.e.f 1st April, 2004 as the dividend income is now exempt in the hands of the shareholders. However, Section 14A has been … the provisions of this Chapter, the deductions specified in Section 80C to 80U. (2) The aggregate amount of the deductions under this Chapter shall not,

D.C.i.T. Vs. Ruchira Papers Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

the provisions of this Chapter, the deductions specified in Sections 80C to 80U, (2) The aggregate amount of the deductions under this Chapter shall not, … of both income of the previous year at any rate or rates, as may be provided under the Finance Act of each year. Total income is defined Under Section 2(45) of the Act, to mean the total … Unit No. 1 was started in the previous year relevant to assessment year 1985-86 and production in Unit No. 2 commenced in the previous vear relevant to assessment year 1992-93. For assessment year 1992-93, assessment was originall made

The Commissioner of Income Tax Vs. Smt Meenakshi Devi Avaru

Court : Karnataka

Subject : Direct Taxation

the Assessment Year. The levy of Wealth-Tax has been discontinued from the Assessment Year 2016-17, as amended by Finance Bill of 2015. The A.Y.1999- 2000 to A.Y. 2004-05 involved in the present appeals are prior to its … by a minor child, not being [a minor child suffering from any disability of the nature specified in section 80U of the Income- tax Act or]. a married daughter, of such individual, 11[***]., or (iii)…..15. Sub-section (8) of … Tax & Anr. Vs. Smt. Meenakshi Devi Avaru through LRs. and Another 2/113 Since dead by legal heirs of Respondent No.1 1(a). Smt. Jayapalashri Anil

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)

assessee when not claimed by the assessee.27. Mr. Dastur referred to Explanation 5 to Section 32(1) inserted by Finance Act 2001 with effect from 1-4-2002, which reads thus:Explanation 5. - For the removal of doubts, it is … Act provides for special deductions in cases specified in Sections 80C to 80U. Chapter VI-A is divided in to four sub-headings, namely A - General … J.P. Devadhar, J.1. This appeal filed under Section 260A of the Income Tax Act, 1961 (`Act' for short) was initially heard by a Division Bench of this

Synco Industries Ltd. Vs. Assessing Officer, Income Tax, Mumbai and an ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1948 - Sections 32(2), 60 to 64, 71, 72, 80A(1), 80A(2), 80B, 80B(5), 80C to 80U and 260A; Companies Act, 1956; Finance Act, 1967; Income Tax Act, 1961 - Sections 80AB and 80HH; Finance Act, 1965

Reported in : (2008)215CTR(SC)385; [2008]299ITR444(SC); JT2008(4)SC1; 2008(4)SCALE263; (2008)4SCC22; 2008AIRSCW2321; 2008(2)Supreme226629

The present Section came on the statute book by way of substitution of Chapter VI A by the Finance (No. 2) Act, 1967, w.e.f. 1.4.1968. This Section has witnessed several consequential amendments from time to time by way of insertions, … 80A lays down that while computing the total income of an assessee, deductions specified in Sections 80C to 80U shall be allowed from his gross total income.This Section has introduced a new concept of 'gross total income'

M/S. Vijay Industries Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

course, income is to be charged at the rate or rates fixed for the year by the Annual Finance Act. Also the levy is to be on the total income of the assessable entity, computed in accordance … The High Court of Rajasthan by the impugned judgment dated 17th May, 2004 construed Section 80-HH of the Income Tax Act, 1961 following a judgment … allowed from ‘gross total income’ the deductions specified in Section 80C to 80U. It is relevant to point out that though Chapter VIA also allows … No.2422-2423 OF2019(ARISING OUT OF SLP (CIVIL) No.6333-6334 OF2019 ARISING OUT OF DIARY No.39440 OF2017Civil Appeal Nos. 1581-1582 of 2005 a/w. Connected matters Page 1 of 22 JUDGMENT A.K. SIKRI, J.Leave granted. Delay condoned.2) In all these appeals

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

subject to provisions of Chapter VI-A, deductions specified in Sections 80C to 80U. Sub-section (2) of Section 80A specifically sets out that the aggregate amount … 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 … Rajiv Shakdher, J.1. This is an appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act) against the judgment dated 31.1.2007 passed

Honeywell International (India) Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2007)108TTJ(Delhi)924

the tax is payable under the provisions of the Act.Section 10A of the Act, as substituted by the Finance Act, 2000, w.e.f.1st April, 2001, provides for deduction in respect of profits and gains derived by the eligible … income so arrived at, deduct the reliefs admissible under Sections 80C to 80U (i.e., Chapter VI-A deductions), which cannot exceed the gross total income. The … 1. This appeal by the assessee is directed against the order of learned CIT(A)-XV, New Delhi dt. 21st Dec, 2006. The assessee has raised the following ground of appeal: That the CIT(A) erred on facts and

V.M. Salgaocar and Brother Pvt. Ltd. Vs. The Asst. Commissioner of Inc ...

Court : Mumbai Goa

Subject : Direct Taxation

with and subject to the provisions of the Chapter which are the deductions specified in Section 80C to Section 80U. The learned Senior Counsel further submits that sub section (2) provides that the quantum of deduction allowable is … a sum of Rs.17,40,33,719/- by relying upon Section 80AB of the said Act which was introduced by the Finance Act, 1980 w.e.f. 01.04.1981. By relying upon the Circular No. 281 of 1980 dated 22.09.1980 which has no