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Commissioner of Income Tax Vs. Jannhavi Investments (P) Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Securities Contracts Regulation Act, 1956 - Sections 2, 48 and 55(2); Finance Act, 1970; Finance Act, 1992

Reported in : (2008)215CTR(Bom)72; [2008]304ITR276(Bom)

Keshavji Karsondas (cited supra) was distinguishable in the facts of the present case. Me pointed out that by Finance Act, 1992, w.e.f. 1993, the mode of computation of income chargeable under head 'Capital gain' had changed and the concept … of 'indexed cost of acquisition' had been introduced and defined under Explanation III to the 5th proviso of Section 48. According to him the concept 'indexed cost of acquisition' was calculable on the basis of the cost … April, 1981, whichever was later. He drew our further attention to Section 55(2)(b) which related to calculation of the cost of 'any other capital asset'.7.

Tarajan Tea Co. Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Guwahati

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 144B and 263

not attracted. It is true that the effect of this decision regarding 'goodwill' has been overcome by the Finance Act, 1987, amending Section 55 so as to provide that cost of acquisition of goodwill acquired other than by

Commissioner of Income-tax, Ghaziabad Vs. Simbhaoli Industries (P.) Lt ...

Court : Allahabad

Subject : Direct Taxation

CIT v. Poonam Chand Trilok Chand [1976] 105 ITR 618 (All.); and (5) Union of India v. Kamlakshi Finance Corporation Ltd. 1991 (55) ELT 433 (SC). 9. Lastly, he made a request to dismiss the appeal filed … Satish Chandra, J. 1. The present appeal is filed by the department under Section-260-A of the Income Tax Act against the judgment and order dated 16.01.2001, passed by the Income Tax Appellate Tribunal, Delhi in Appeal No.6408

Assistant Commissioner of Income Vs. Affection Investments Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2003)80TTJ(Ahd.)278

here to mention that the entire system of taxation of long-term capital gains has been changed by the Finance Act, 1992. The scope and effect of the amended provisions inserted by the Finance Act, 1992, applicable from asst. yr. … by Miss Dhun D. Kapadia. The cost of original/old shares as per third proviso to Sub-section (2) of Section 12B of the IT Act, 1922, was Rs. 341 per share, which included the cost of "rights" embedded … facts in holding that the amendment brought under the provisions of Section 55(2)(aa) in the matter of determination of the value of rights to financial

Smt. Mina Deogun Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Land Acquisition

Reported in : (2008)117TTJ(Kol.)121

and Circular No. 636, dt. 31st Aug., 1992 [(1992) 107 CTR (St) 1] which explained the provisions of Finance Act, 1992. According to the Memorandum and the Board Circular the indexation of the cost of acquisition was to be … the case, the AO be directed to assess the capital gains with reference to cost of acquisition under Section 55 as on 1st April, 1981 at Rs. 18,40,244 as against Rs. 15,02,907 arbitrarily estimated by the CIT(A). 5.

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; … 1962 - Code of Criminal Procedure, 1973 - ss.50, 50A, 41-D, 41-B, 55A - Pre-conditions and safeguards against arbitrary and wrongful arrests to protect the

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 … sale of bonus shares, computation must as per Section 48 treating the same as nil, as enjoined by Section 55(2) - Director of Income-tax submitted that the Applicant cannot avail the lower rate as non-resident foreign company cannot

Kalyani Exports and Investments Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Land Acquisition

on the 1st day of April, 1981, whichever is later." The insertion of the above Explanation by the Finance Act, 1992 with effect from 1-4-1993 has made a significant difference in the matter of computation of capital gains. The … the capital gains, the assessee adopted the fair market value as on 1-4-1981 as per the provisions of section 55(2)(b). The Assessing Officer held that the assessee was not entitled to exercise this option because as on that

Kalyani Exports and Investment (P) Vs. Deputy Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Land Acquisition

Reported in : (2001)72TTJ(Pune.)341

for the year beginning on the 1-4-1981, whichever is later." The insertion of the above Explanation by the Finance Act, 1992, with effect from 1-4-1993, has made a significant difference in the matter of computation of capital gains. The … the capital gains, the assessee adopted the fair market value as on 1-4-1981, as per the provisions of section 55(2)(b). The assessing officer held that the assessee was not entitled to exercise this opinion because as on that

Dy. Cit (inv.) Circle 14(1) Vs. Dharmesh H. Doshi

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)4SOT748(Mum.)

on the main ground that the amendment made in section 55(2)(a), (aa) with effect from 1-4-1995/1-4-1996 by the Finance Act, 1995 was not retrospective and which did not permit assuming the cost of acquisition as nilprior to 1-4-1995