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Timken France Sas Vs. Director of Income-tax

Court : Authority for Advance Rulings

Subject : Land Acquisition

Reported in : (2008)BusLR60

the effect of inflation vide CBDT circular No. 636 dated 31.8.1992 containing explanatory Notes on the provisions of Finance Act, 1992. The cost of acquisition of asset and the cost of improvement thereto are inflated to arrive at the … shares to the Indian promoters of NRB and submitted that all the conditions requisite to attract proviso to Section 112(1) were complied and therefore computation of tax on long-term capital gains on the sale of original shares should

Timken France Sas Vs. Director of Income-tax (international Taxation) ...

Court : Authority for Advance Rulings

Subject : Direct Taxation

the effect of inflation vide CBDT circular No. 636 dated 31.8.1992 containing explanatory Notes on the provisions of Finance Act, 1992. The cost of acquisition of asset and the cost of improvement thereto are inflated to arrive at the … shares of NRB Bearing Ltd will be 10% of the amount of capital gains as per proviso to section 112(1) of the Act? 2. Whether on the stated facts and in law the tax payable on long-term capital

Basf Aktiengesellschaft Vs. Ddit, International Taxation

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2007)293ITR1(Mum.)

CBDT Circular No. 559 dated 4.5.1990; (ii) The provisions of first proviso to Section 48 as substituted by Finance Act, 1992 r/w CBDT Circular No. 636 dated 31.8.1992; (iii) The provisions of Section 115-AD of the Act inserted by … a Listed Security is to be taxed at 20% and not at 10% as per the proviso to Section 112. He ought not to have gone so.2. Briefly stated the facts giving rise to this appeal are these:

Joint Cit, Special Range-45 Vs. Hari K. Taneja and Rohan P. Shah

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

cost of original as well as bonus shares but the provisions of Section 48 have been amended by Finance Act, 1992 with effect from 1-4-1993 and as per this amended provision of Section 48, indexed cost of acquisition has … circumstances of the case and in law, the learned Commissioner (Appeals) failed to appreciate that the provisions of Section 112(2) for capital gains (introduced with effect from 1-4-1993) clearly states that: Where the gross total income of any

Krishnagopal Nagpal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2004)82TTJ(Pune.)481

of calculation of tax has further been elaborately expressed in Section 112. This provision was inserted by the Finance Act, 1992, w.e.f. 1st April, 1993. Section 113 was inserted by the Finance Act, 1995, w.e.f.1st July, 1995. This clearly

Cairn Uk Holdings Limited Vs. Director of Income-tax

Court : Delhi

Subject : Land Acquisition

the object of the provision, was rejected by referring to:(a) Paragraph 41 of the explanatory notes of the Finance Act, 1999 and emphasis was laid on the words ―all assessees‖ paragraph 41. Proviso to Section 112(1) was not … second provision was conceived as a measure offsetting the effect of inflation, (vide circular No.636 dated 31st August, 1992) by giving benefit of indexation. Paragraph 35.3 of the circular No.636 dated 31st August, 1992, states that as

Mohan Aluminium (P) Ltd. and Shri Vs. the Commissioner of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

Subject : Customs

Reported in : (2007)(210)ELT513Tri(Bang.)

interest under Sub-section (2) of Section 28 relates to notices issued prior to the date on which the Finance Act, 2000 receives the assent of the President.In view of the above explanation, invocation of 114A in the present … 114A of the Customs Act of the amount in (f) above, (h) Penalty on the following noticees under Section 112 of the Customs Act. (i) An amount of Rs. 3,00,00,000/- deposited by the appellant towards the duty demanded … as per para 56, 57, 67 of the Export and Import Policy 1992-1997 and para 127 of the Handbook of Procedures 1992-1997. It was stipulated

Rashmikant Kundalia and Another Vs. Union of India and Others

Court : Mumbai

Subject : Direct Taxation

in such manner and setting forth such particulars and within such time as may be prescribed. (Inserted by Finance Act (No.2) Act, 2014 w.e.f. 1-10-2014)[Provided that the person may also deliver to the prescribed authority a correction statement … SCC 353] , City Corpn. Of Calicut v. Thachambalath Sadasivan[(1985) 2 SCC 112 : 1985 SCC (Tax) 211] , Sirsilk Ltd. v. Textiles Committee [1989 … Petition filed under Article 226 of the Constitution of India, the Petitioners have challenged the constitutional validity of section 234E of the Income Tax Act, 1961. Section 234E seeks to levy a fee of Rs.200/- per day

H.B. Stockholdings Ltd. Vs. Joint Cit

Court : Delhi

Subject : Direct Taxation

Reported in : (2004)87TTJ(Del)127

addition was sustained.4.2 The ground of the assessed in regard to surcharge was also dismissed by observing that Finance Act, 1999 provides for imposition of surcharge over and above the tax computed under section 113. Accordingly the levy … not to be increased by surcharge as it is evident form the heading surcharge of income-tax wherein only section 112 is mentioned. In other words, the charge in provision in the First Schedule Part-I pertaining to surcharge of … Moreover in the assessment completed under section 143(3) for the assessment year 1992-93, the assessing officer had already accepted the accounts relating to the said

Khandwala Enterprise Private Limited vs.union of India and Ors.

Court : Delhi

Subject : Land Acquisition

in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.187/2009-Customs (N.T.), dated the 31st December, 2009.2. 1st January, … Act‖), for having been imported in violation of Section 3 (3) of the Foreign Trade (Development and Regulation) Act, 1992, (hereinafter referred to as ―FTDR Act‖), and para 2.08 of the WP (C) 9225/2019 & WP (C) 9230/2019 … supra, and differential duty be not confirmed and demanded, (iv) penalty be not imposed on the petitioner under Section 112 (a) of the Act, and (v) the assessment of one of the aforesaid eight Bs/E, which was provisional,