Advanced Search Results

Director of Income Tax (Exemptions) Vs. Estate of C. Audikesavalu Naid ...

Court : Chennai

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1991 - Sections 13; Finance Act, 1992; Income Tax Act, 1961 - Sections 11, 11(5), 13 and 13(1)

Reported in : (2003)183CTR(Mad)338

by the Tribunal holding that by virtue of amendment made to Section 13 of the Act by the Finance Act, 1992, and Finance Act, 1983 (sic), the time was extended to trust to withdraw the non-specified investments of the … in holding that the assessee-trust is not holding an investment in the form other than that specified in Section 11(5) and is, therefore, entitled for exemption under Section 11 of the IT Act ?' 2. The assessment year

Excise Commissioner and anr. Vs. Mysore Sales International Ltd. and o ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 3, 44AC, 119, 120(1), 120(2), 120(4), 124(2), 124(3), 124(4), 124(5), 206C, 206C(1), 206C(2), 206C(3), 206C(5), 206C(6), 206C(7), 206C(9) and 206C(11); Finance Act, 1992; Karnataka Excise Act, 1963 ; Salt Act, 1944 - Sections 5(3); Karnataka Excise (Lease of Right of Retail Vend of Liquors) Rules, 1969 - Rule 3; Karnataka Excise (Arrack Vend Special Conditions of Licenses) Rules, 1967 - Rule 4; Constitution of India - Article 226 and 227

Reported in : [2006]286ITR136(KAR); [2006]286ITR136(Karn)

Clause (a) 'buyer' Sub-clauses (i) to (iii) which provisions were inserted by way of an amendment by the Finance Act, 1992, which have come into force w.e.f. 1st April, 1992, wherein the definition of 'buyer' under Clause (a) is … as assigned in the contracts awarded in their favour strictly in terms of the contract.5. The provisions of Section 206C(1) of IT Act of 1961, provide for collection of income-tax at source from the contractors/buyers by the … by the IT Department in exercise of its statutory power under Section 119 of the Act beneficial to the assessee are toned down the rigour

The Director of Income Tax Vs. Shardaben Bhagubhai Mafatlal Public Cha ...

Court : Mumbai

Subject : Direct TaxationTrusts and Societies

Acts : Income Tax Act, 1961 - Sections 2(31), 11(5), 13(1), 80-L, 160, 161(1), 162, 164 and 260-A; Companies Act, 1956 - Sections 617; Finance Act, 1991; Finance Act, 1992; Finance Act, 1983; Income Tax Act, 1922 - Sections 16(3)

Reported in : (2001)1BOMLR744; (2000)164CTR(Bom)97; 2001(2)MhLj695

pattern which was brought to the notice of the Government. With a view to remove the hardship, the Finance Act, 1992 amended clause (iia) in the provision to section 13(1)(d) to provide that an asset, other than an investment … and since they failed to do so, the exemption granted to the Trust stood withdrawn for breach of Section 11(5) of the Act. In this group of Appeals, we are not concerned with the question as to whether

Director of Income-tax (Exemptions) Vs. Sir M. Ct. Muthiah Chettiar Fa ...

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1991; Finance (Amendment) Act, 1992; Income-tax Act, 1961 - Sections 11(5) and 13(1)

Reported in : [2002]257ITR287(Mad)

time for disinvestment up to March 31,1993, allowed by the Finance (No. 2) Act, 1991, read with the Finance Act, 1992, has retrospective effect from April 1, 1983. During the assessment year to which that provision applies, investments could … the case, the Income-tax Appellate Tribunal was right in law in holding that there was no contravention of Section 13(l)(d) of the Income-tax Act, 1961, for the assessment years 1985-86, 1986-87 and 1987-88 in view of the … could be held by the trust contrary to the provisions of Section 11(5) of the Income-tax Act, 1961, but the trust was under an obligation

The Director of Income-tax (Exemptions) Vs. Paramartha Bhushanam, Sri ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 11 and 11(4A); Finance Act, 1983; Finance (No. 2) (Amendment) Act, 1991

Reported in : (2003)182CTR(Mad)380

effect of substitution of section 11(4A) of the Act by the Finance (No.2) Act, 1991 as amended in 1992 was to have effect from the date of insertion of section 11(4A), that is, with effect from 1.4.1984. … not its business income. The Appellate Tribunal also held that section 11(4A) of the Act as inserted by Finance Act, 1983 with effect from 1.4.1984 would not apply as by Finance (No.2)Act, 1991 the provision has been substituted

Director of Income Tax (Exemption) Vs. Shardaben Bhagubhai Mafatlal Pu ...

Court : Mumbai

Subject : Direct Taxation

Reported in : (2001)164CTR(Bom)97; [2001]247ITR1(Bom)

pattern which was brought to the notice of the government. With a view to remove the hardship, the Finance Act, 1992, amended clause (iia) in the proviso to section 13(1)(d) to provide that an asset, other than an investment … and since they failed to do so, the exemption granted to the trust stood withdrawn for breach of section 11(5) of the Act. In this group of appeals, we are not concerned with the question as to whether

Commissioner of Income Tax Vs. Vijay Granites Pvt. Ltd

Court : Chennai

Subject : Direct Taxation

granite, deduction under Section 80HHC can be allowed. The contention of the Revenue that the amendment made by Finance Act No.2 of 1991 introducing schedule XII is effective only from the assessment year 1991-1992 and in respect of

Riddhisiddhi Bullions Limited and Others Vs. Union of India, through C ...

Court : Mumbai

Subject : Education

2013, the Directorate General of Export Promotion, Department of Revenue, Ministry of Finance issued instructions inter alia clarifying that gold imported between 22nd July, 2013 … is also granted every year to the petitioners by the authorities under the Foreign Trade (Development and Regulation) Act, 1992 (for short âAct of 1992â?). All this enables the petitioners to import precious metals in terms of paragraph … good and sufficient reason, to be recorded in writing, and subject to such conditions as may be prescribed. Section 11 (2) of the said Act provides for imposition of penalty where any person makes or abets or attempts

Ubs Securities Asia Ltd. Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : MRTP

Reported in : (2005)6CompLJ64SAT

Headquartered in New York and London. The appellant is a Foreign Institutional Investor (FII) registered with SEBI. Swiss Finance Corporation (Mauritius) Limited ('SFCML' for short) is registered as a proprietary sub-account of the appellant. UBS AG London … above and in exercise of the powers conferred on me in terms of Section 19 of the SEBI Act, 1992, read with Section 11(4) and 11B of SEBI Act, 1992, I hereby prohibit UBS / its affiliates /

Sebi Vs. Pursarth Trading Company Private

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : MRTP

whereby they were advised to show cause as to why the action under Section 11 B of SEBI Act, 1992 read with Regulations 11 and 13 of PFUTP Regulations including debarring the Noticee from accessing capital market should … the market. In the statement he has stated, All of the above entities are in the business of finance since very long and during this period they have done sell and cash type business with Harbinger Trading