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Mr. Bhupendra Kumar Bhaumik Vs. Union of India (Uoi) and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Constitution of India - Articles 14, 226 and 246; Income Tax Act, 1961 - Sections 45, 54E, 54E(1), 54E(1C), 269SS and 276DD ; Finance Act, 1992; Central Excise and Salt Act, 1944

Reported in : (2003)179CTR(Del)530

1C of Section 54E of the Income Tax Act, 1961 (for short the Act), as introduced by the Finance Act, 1992, praying that the words and figures '29th day of February, 1992' in the said Section be struck down … 226 of the Constitution of India, the petitioner has challenged the constitutional validity of Sub-section 1C of Section 54E of the Income Tax Act, 1961 (for short the Act), as introduced by the Finance Act, 1992, praying

K.M. Vijayan and Others Vs. Union of India and Others

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(7), 2(24), (31) and (45), 3, 4 , 4(1), 5, 6, 7, 8, 9, 10(32), 14, 15, 16, 19(3), 17, 18, 19, 19(1), 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 64(1), 64(1A), 65, 80(L), (U), (CC) and (CCB), 88, 139, 159(6), 162, 171 and 171(1) and (9); Constitution of India - Articles 14 to 19 and 248

Reported in : [1995]215ITR371(Mad)

order or direction declaring the provisions of section 64(1A) of the Income-tax Act, 1961, as amended by the Finance Act, 1992, as illegal, beyond the scope of preventing avoidance of tax and inconsistent with the scheme of the Income-tax … of the said provisions on the grounds, viz., (i) that they were ultra vires the Legislature under entry 54 of the Federal Legislative List of the Government of India Act, 1935; (ii) that they contravened the provisions

Mrs. Prema P. Shah and Sanjiv P. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)100ITD60(Mum.)

Rs. 14.00 lakhs on March 29, 1983, and sold on April 4, 1992, for the aforementioned price. The assessee claimed exemption under Section 54, showing … Departmental Representative further submitted that Section 54E is very clear. The change brought in the section by the Finance Act, 1979, with effect from April 1, 1979, which reads as "whole or any part of the net consideration" … 2. I.T.A. No. 2707/Mumbai of 1997 : The interesting question before us is whether the exemption contemplated under Section 54(1) could be extended to a property purchased in a foreign country after selling the property situated in India.

Radhika Agarwal versus Union of India and Others

Court : Supreme Court of India

Subject : Right to Information

Reported in : [2025]2S.C.R.1331

Customs Act, 1962 and the Central Goods and Services Tax Act, 2017 (GST Act).Headnotes† Customs Act, 1962 - Finance Act, 2012 - Finance Act, 2013 - Finance Act, 2019 - ss.104(4), 104(6) - Central Goods and Services Tax … (d) fraudulently obtaining an instrument for the purposes of this Act or the Foreign Trade (Development and Regulation) Act, 1992 (22 of 1992), and such instrument is utilised under this Act, where duty relatable to such utilisation of … and Cosmetics Act, 1940; Prevention of Money Laundering Act, 2002.List of Keywords Section 104(4), 104(6) of Customs Act, 1962; Finance Act, 2012; Finance Act, 2019; … 506, 516 and 502 of 2022, W.P. (Crl) No. 7, 9, 24, 54, 209, 120, 118, 126, 150, 164, 165, 203, 174, 190, 268, 296,

Mrs. Catherine Thomas Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2008)116TTJ(Coch.)797

following submissions : It was argued that the legislature while inserting Sub-section (5) in Section 45 through the Finance Act, 1987 w.e.f. 1st April, 1988 did not provide for cases where enhanced compensation was reduced by any Court, … amount can be assessed in the asst. yr.1995-96 as the assessee was deprived from taking the benefit of Section 54 or 55 as no liquid cash was available with him for investment purpose. The learned Counsel has placed … dt. 16th Dec, 2004 for the asst.yrs. 1987-88, 1988-89, 1990-91, 1991-92 and 1992-93. The facts as well as the issues are identical in all these

Mrs. Catherine Thomas Vs. the Dy. Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2008)111ITD132(Coch.)

the following submissions: It was argued that the legislature while inserting Sub-section (5) in Section 45 through the Finance Act 1987 with effect from 1-4-1988 did not provide for cases where enhanced compensation was reduced by any courts … control then. It was further contended that the assessee was not free to make investments as provided under Section 54, 54F etc as the money was not under his control. The receipt could at best be said to … Kochi all dated 16-12-2004 for the Assessment Years 1987-88,1988-89, 1990-91, 1991-92 and 1992-93. The facts as well as the issues are identical in all these

Dr. K.M. Shah Vs. Dy. C.i.T.

Court : Gujarat

Subject : Direct Taxation

Acts : Wealth-tax Act, 1957 - Sections 2, 7(2), 16A and 27A; Gift-tax Act; Wealth-tax Act, 1958 - Sections 7(2) - Schedule - Rules 3, 4, 5, 6, 7, 8, 19 and 20; Urban Land Ceiling Act - Sections 6; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 1992; Income-tax Act, 1961

Reported in : (2004)190CTR(Guj)414; [2004]270ITR408(Guj)

at his option, specify in his behalf in the return of net wealth]. ** Proviso omitted by the Finance Act, 1992 w.e.f. 1.4.1993.Explanation- For the purposes of this sub-section,-(i) where the house has been constructed by the assessee, he … [1997]227ITR733(Mad) . However, those principles were laid down in the context of the expression 'land appurtenant thereto' in Section 54 of the Income-tax Act, 1961 granting a concession where capital gains arise from the transfer of buildings or

Commissioner of Income Tax Vs. Sharda Kochhar

Court : Delhi

Subject : Land Acquisition

capital gains and deductions therefrom. The question which arises for determination is-why was Section 45(5) inserted by the Finance Act, 1987, w.e.f. 1-41988?. Under Section 45(1), profits or gains arising from the transfer of a capital asset effected … dated 26 th March, 1993, under Section 148, after recording reasons in the order sheet dated 15th December, 1992. The assessee filed a return revising/enhancing his income to Rs.23,750/-. The return mentioned that the assessee had received … stood further amended (w.e.f. 1-4-1991) so as to include reference to Section 54-H and Section 45(5)(a) which, as stated above, stood amended (w.e.f. 1-4-1988). The

The Commissioner of Income Tax Ii Vs. Kuldeep Singh

Court : Delhi

Subject : Direct Taxation

and (ii) theassessee shall be entitled to withdraw such amount in accordance with the scheme aforesaid. Explanation.--Omitted by Finance Act, 1992, wef 14-1993.” 7. It is accepted position and it is not disputed by the Revenue that Rs.37,86,273/- had … which pertains to assessment year 2006-07 submits that the assessee, an individual has been wrongly granted benefit of Section 54 of Income Tax Act, 1961 (Act, for short). The respondent assessee contrary to the statutory mandate, it is

Sebi Vs. Pursarth Trading Company Private

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

Subject : MRTP

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 … 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 … from July 09, 2001 to March 06, 2002 has decreased from Rs. 54.20 to Rs. 8.00 and during this period 4,41,970 shares were traded at