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Commissioner of Income Tax Vs. Aditya Chemicals Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(a),2(24), 2(45), 3, 4, 4(1), 5, 6, 14, 22(1), 22(4), 23(1), 23(2), 34(2), 64, 72, 80, 139, 39(1), 139(2), 139(3), 148, 153(1), 260A, 271, 271(2) and 271A ; Finance Act, 2002; Income Tax Act, 1922 - Sections 2 and 28(1); Finance Act, 1988; Finance Act, 1951 - Sections 2(7)

Reported in : (2005)197CTR(Del)241; [2006]283ITR458(Delhi)

260A, 271, 271(2) and 271A ; Finance Act, 2002; Income Tax Act, 1922 - Sections 2 and 28(1); Finance Act, 1988; Finance Act, 1951 - Section 2(7)Cases Referred: Elphinstone Spinning & Weaving Mills Co. Ltd. v. CIT, (1955) 28 … total income which he was required to furnish by notice given under Sub-section (1) or Sub-section (2) of Section 23, or(c) has concealed the particulars of his income or deliberately furnished inaccurate particulars of such income,he or it

R.K.K.R. International (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (1998)65ITD512(Delhi)

a view to plug such tax evasion only that the provisions were enacted in section 40 of the Finance Act, 1983.5.3 It was argued that since true rent is not reflected in the deed it is open for … to as ALV). In his opinion the monthly rent which the property might fetch within the meaning of section 23 of the Income-tax Act, 1961 (hereinafter called the Act) could not be less than Rs. 7 lakhs per … improvement consequent upon taking possession of the same.2.4 In the assessment year 1988-89, Assessing Officer examined the veracity of the lease agreement. Taking into consideration

Deputy Commissioner of Income Tax Vs. Jindal Photo Films Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2008)1113ITD624(Delhi)

at serial 9 and 10 are as below: 8. Entry 9 was later (w.e.f. 1st April, 1989 by Finance Act, 1988) substituted by the words 'projectors', that is to say cinematographic films were taken out of the purview of … w.e.f. 1st April, 1989 and it was substituted in the following terms: 23. At this juncture, it may be relevant to briefly refer to the … 1994-95.2. In the sole ground, the Revenue has challenged the direction of the CIT(A) to allow deduction under Section 80-I of the Act despite the fact that the product being manufactured by the assessee came under the

Saini and Co. and ors. Vs. Union of India (Uoi) and ors.

Court : Himachal Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 44AC and 206C; ;Income Tax (Amendment) Act, 1993

Reported in : [2000]246ITR762(HP)

to collection of tax at source does not apply to them.4. As stated in the petition, by the Finance Act, 1988, certain amendments were introduced in the Income-tax Act, 1961. Section 44AC came to be inserted with effect from

infosys Technologies Ltd. Vs. Joint Cit

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

It may be mentioned that Circular No. 528 ((1989) 76 CTR (St) 691 is Explanatory Notes to the Finance Act, 1988. The relevant portion reads as under: 39.2 Regarding the circumstances under which the order of an assessing officer … India and Canada was granted without properly applying the provision of art. 23 of the said DTAA. Subsequently, a second notice was issued on 31-1-2001 … these appeals by assessee are directed against the common order of the learned CIT-HI, Bangalore dated 20-2-2001 under Section 263 of the Income Tax Act (the Act).2. We first take up the appeal pertaining to assessment year

infosys Technologies Ltd. Vs. the Joint Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2006)103ITD399(Bang.)

Karnataka High Court in this matter. It may be mentioned that Circular 528 is explanatory notes to the Finance Act, 1988. The relevant portion reads as under: 39.2 Regarding the circumstances under which the order of an Assessing officer … India and Canada was granted without properly applying the provision of Article 23 of the said DTAA. Subsequently, a second notice was issued on 31.1.2001 … these appeals by assessee are directed against the common order of the learned CIT-III, Bangalore dated 20/2/2001 Under Section 263 of the Income-tax Act (The Act).2. We first take up the appeal pertaining to Asst. Year 1994-95.Learned

C.T. Faisal Vs. Official Liquidator and anr.

Court : Chennai

Subject : Contract

Acts : Usurious Loan Act, 1918 - Sections 3; Contract Act - Sections 23; Motor Vehicles Act, 1988 - Sections 2(30), 40 and 51; Usurious Loan (Amendment) Act, 1937 - Sections 3; Motor Vehicles Rules - Rule 47

Reported in : AIR2006Mad15

It stated that the sum of Rs. 4,00,000/- was leased with lease finance charges at 15.5% per annum for (our years. The finance charges flat, … Calicut except an Agent's office, and for the purpose of registration under Section 40 of the Motor Vehicles Act, 1988 sale invoice was not necessary. It is further submitted that a perusal of the document filed would show … the entire transaction is a colourable transaction aimed for a tax benefit, hence against public policy, hit by Section 23 of the Contract Act. In this connection, learned Counsel placed reliance on the decisions reported in : [1966]2SCR828

Jones (Respondent) Vs. Garnett (Her Majesty's Inspector of Taxes) (App ...

Court : House of Lords

Subject : Land Acquisition

of Husband and Wife, 1980, Cmnd.8093, para25). 63. The final stage, reached when the relevant provisions of the Finance Act 1988 came into force in 1990, was to abolish the aggregation rule altogether and treat them as two separate … analysis (which Keene LJ said he had initially found persuasive) is correct. 23. Carnwath LJ made a rather different point when he said, at para … arises from property in which the settlor has no interest. (2) Subject to the following provisions of this section, a settlor shall be regarded as having an interest in property if that property or any derived property

Commissioner of Wealth Tax vs.atma Ram Properties (P) Ltd.

Court : Delhi

Subject : Direct Taxation

(ITAT) was correct in law in holding that the amendment to sub-section 3 of Section 40 by the Finance Act, 1988 (FA1988 by way of insertion of a proviso to the same is clarificatory and hence retrospective in nature?.” … ITR17(SC); S. G. Mercantile Corporation (P) Ltd. v. CIT (1972) 83 ITR700(SC); Universal Plast Ltd. v. CIT (1999) 237 ITR454(SC) and a host of decisions of the High Courts the SB of the ITAT concluded as under:"....

M.Patties Vs. The State, By

Court : Chennai

Subject : Education

document was seized. During the search made at the residence of the accused, a pass-book issued by Kuberan Finance to P.W.6-Pandi and a receipt dated 01.09.99 for payment of the fiRs.instalment towards loan obtained by Pandi in … C.C.No.9 of 2001 on the file of the Special Judge under the provisions of the Prevention of Corruption Act, 1988(Chief Judicial Magistrate).Ramanathapuram is the appellant in the present appeal. He was prosecuted in the said case for offences … Vigilance and Anti-corruption Department, Ramanathapuram, Ramanathapuram District..Respondent/Complainant PRAYER Criminal Appeal filed under Section 374 of Criminal Procedure Code against the Judgement made in Special C.C.No.9/01, … of Criminal Procedure Code against the Judgement made in Special C.C.No.9/01, dated 23.05.2006 on the file of the learned Special Judge-cum-Chief Judicial Magistrate, Ramanathapuram. Reserved