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Deputy Commissioner of Income Tax, Ahmedabad Vs. Core Health Care Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28 to 41, 43, 43(1), 80HH, 80I, 90(2) and 260A; Finance Act, 1986 - Sections 43(1); Finance Act, 2003

Reported in : 105(2008)CLT433(SC); (2008)215CTR(SC)1; [2008]298ITR194(SC); JT2008(2)SC367; 2008(2)SCALE327; (2008)2SCC465; 2008AIRSCW1425

directly or indirectly by any other person or authority. Explanation 8 has been inserted in Section 43(1) by Finance Act, 1986 (23 of 1986), with retrospective effect from 1.4.74. It is important to note that the word 'actual … stood dismissed.3. On 31.12.92 assessee filed its return of income for A.Y. 1992-93 declaring 'nil' income. Later on the assessee filed a revised return on … also made with effect from 1.4.2004. Same is the position with regard to insertion of a sub-section after Section 90(2) and before the Explanation. This insertion also operates w.e.f. 1.4.04. In short, the above amendments have been made

Bank of America Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2001)78ITD1(Mum.)

income-tax) of this Act in respect of the total income of the previous year of every person. The Finance Act, 1992, Finance Act, 1993 and the Finance Act, 1994 provide for levy of tax in the case of companies … in appeal against the decision of the CIT for the respective assessment years. It has been contended that Section 90 of the Income-tax Act, 1961 provides for entering into an agreement with a Government of any country outside

Gujarat Alkalies and Chemicals Ltd. Vs. Joint Commissioner of Income T ...

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

of business or profession x -------------- Total Turnover This formula was operative w.e.f. 1st April, 1991. Subsequently, the Finance Act, 1992, made significant amendments in section with a view to eliminate certain problems and difficulties. Under the amended provisions

Z.F. Steering Gear (i) Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Act was inserted by the Finance Act, 1991 with effect from 1-4-1991. It was subsequently amended by the Finance Act, 1992 with effect from 1-4-1993 and then by Finance Act, 1993 with effect from 1-4-1994/1-4-1995. The deduction under Section … commenced in April, 1994. During the accounting year relevant to assessment year 1995-96 nine machines costing about Rs. 90 lacs were installed. In the return filed for assessment year 1995-96 on 29-11-1995 the assessee claimed deduction under

Abn Amro Bank Nv Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2005)96TTJ(Kol.)1041

contrary view overruling the Tribunal decision considering the Explanation to Section 90(2) of the Act, inserted by the Finance Act, 2001." 39. The relevant facts relating to this issue are that the AO had levied tax in this … 1. These 4 appeals of the assessee relating to asst. yrs. 1992-93, 1993-94, 1994-95 and 1995-96 involving some common issues are disposed of by this consolidated order.2. The appellant is

Commissioner of Income Tax, Rajkot Vs. Shatrusailya Digvijaysingh Jade ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 87, 90, 95, 143(3), 246 and 264; Wealth Tax Act, 1957; Finance Act, 1998 - Sections 86 to 98

Reported in : AIR2005SC4000; (2005)197CTR(SC)590; 2005(192)ELT3(SC); [2005]277ITR435(SC); JT2005(8)SC50; (2005)7SCC294; 2005(2)LC1425(SC)

Kar Vivad Samadhan Scheme (for short 'the Scheme'). The said Scheme was contained in Chapter IV of the Finance Act and consisted of Sections 86 to 98 (both inclusive). The said scheme came into force w.e.f. 1.9.1998 in … the declaration from which TDS, self- assessed tax, advanced tax paid, if any, had to be deducted under Section 90; the DA had to determine the amount payable and for that purpose, he had to determine the tax … on the ground that the assessments had become final in the year 1992-93 (when the assessee's appeals were dismissed for failure to pre-deposit self-assessed tax)

Joint Commissioner of Income Tax Vs. Sakura Bank Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)100ITD215(Mum.)

ought to have held that tax rate payable (applicable) to bank would be as per provisions of the Finance Act for foreign companies. Vide letter dt. 6th June, 2005, the present AO, i.e., Jt. Director of International Taxation, … respect of taxation of foreign companies, which has now been clarified by way of insertion of Explanation to Section 90 of IT Act, 1961, which is with retrospective effect from 1st April, 1962. (iii) It is, therefore, prayed … The material facts of the case, so far as the asst. yr. 1992-93 is concerned, are like this. The original assessment order under Section 143(3)

Swam Mills Ltd., a Company Incorporated Under the Companies Act, 1956 ...

Court : Mumbai

Subject : Excise

Acts : Finance Act, 1998 - Sections 89; Central Excise Act, 1944 - Sections 11AA; Customs Act, 1962 - Sections 142; Income Tax Act - Sections 246, 245D(4), 260A and 264; Wealth Tax Act - Sections 22D(4); Foreign Exchange Regulation Act, 1973; Narcotic Drugs and Psychotropic Substances Act, 1985; ;Terrorists and Disruptive Activities (Prevention) Act, 1987; ;Prevention of Corruption Act, 1988; Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 8, 9, 9(2), 9(3) 12A and 12A(6); ;Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992 - Sections 3(2); ;Kar Vivad Samadhan Scheme, 1998 - Sections 87, 90, 92 and 95; ;Constitution of India - Article 226; ;Indian Penal Code (IPC), 1860

operative from 1st September, 1998 to 31st January, 1999. The petitioners filed declaration under Section 89 of the Finance Act, 1998 before the Commissioner of Central Excise on 31st December, 1998. 4. The aforesaid declaration filed by the … under sub-Section (2) of Section 3 of the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992 (27 of 1992).21. Section 95(i) is in respect of tax arrear under any direct tax enactment, while Section … of the declaration from which TDS, self-assessed tax, advanced tax paid, if any, had to be deducted under Section 90; the DA had to determine the amount payable and for that purpose, he had to determine the tax

Timken India Ltd. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 90, 90(2), 195 and 206; ;Constitution of India - Article 226; ;Finance (No. 2) Act, 1991

Reported in : [2002]256ITR460(Cal)

at the relevant time of the assessment year in this case, subsequently there was an amendment by the Finance Act, 1992, with effect from June 1, 1992. Now the amended provision reads as follows :'(iii) for the purposes of … or the rate or rates of income-tax specified in an agreement entered into by the Central Government under Section 90, whichever is applicable by virtue of the provisions of Section 90.'17. In this case Sub-section (2) of Section

Duken Hengra Tea Pvt. Ltd. Vs. Union of India (Uoi)

Court : Guwahati

Subject : Excise

Acts : Constitution of India - Article 226; Central Excise Tariff Act, 1985

covers coffee, tea and spices and the relevant extract of that chapter prior to its amendment by the Finance Act, 1998 is as follows: ' Heading No. Description of goods Rate of Duty 09.02 Tea, including tea waste … unjust assessment. It was on this background that the Supreme Court held that alternative remedy should be pursued.(II) 1992 Supp. (2) SCC 312 (H.B. Gandhi, Excise and Taxation Officer-cum-Assessing Authority, Karnal and Ors. v. Gopi Nath and … forth in the Schedule of the Central Excise Tariff Act, 1985 vide Section 3 of the Act of 1944. The Act of 1944 defines 'excisable