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Commissioner of Income Tax Vs. Ramesh Chand Soni

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 142(2A), 153, 158BE and 158BH; Finance Act, 1996; Finance (Amendment) Act, 2002; Limitation Act, 1963 - Sections 30

Reported in : (2005)194CTR(Raj)84

Chapter X1V-B consisting of Sections 158B to 158BH was enacted and inserted in IT Act, 1961, by the Finance Act, 1995, w.e.f. 1st July, 1995, no Explanations were enacted. Neither any provision for exclusion of any period for any … made in consequence of or to give effect to any finding or direction contained in the said order.Explanation 3.-Where, by an order any income is excluded from the total income of one person and held to be

Commissioner of Income Tax and anr. Vs. T.S. Chandrashekar Through Lrs ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 110(sic), 113, 115, 132, 132(1), 132(3), 132(4), 132(13), 132A, 132(1A), 139(1), 158B, 158BA, 158BA(1), 158BE, 158BE(1), 158BE(2) and 295; Finance (No. 2) Act, 1998; Code of Criminal Procedure (CrPC) , 1973; Income Tax Rules, 1962 - Rules 104, 105(sic), 112(4) and 112(6); Income Tax (Amendment) Rules, 1997 - Rule 112 and 112A

Reported in : (2009)221CTR(Kar)385

learned Counsel for the Revenue further submits placing strong reliance on the circulars relating to the provision in Finance (No. 2) Act, 1998 that certain clarificatory amendments in procedure for block assessment are provided. He has also … by limitation?12. Whether the Tribunal was correct in examining the duration taken for the search from 12th Dec, 1995 to 12th Feb., 1996 raised for the first time by the assessee before the Tribunal when the jurisdiction … bringing the same for block assessment period following the procedure contemplated under Chapter XTV-B of the Act, as for removal of doubts, the last of … basis of authorisation issued by authorised officer at 12th Dec, 1995 at 3.30 p.m. and closed temporarily at 1.15 p.m. on 13th Dec, 1995. Search

Life Insurance Corporation of India Vs. Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Reported in : (2001)166CTR(Mad)125; [2000]111TAXMAN643(Mad)

by Direct Tax Laws (Amendment) Act, 1987 with effect from 1-4-1989. There was a further amendment by the Finance Act, 1995 with effect from 1-7-1995 which substituted the words :''As may be prescribed' for the expression 'As the Central … law has changed subsequent to the amendment and in the changed circumstances, the said decision cannot be invoked.5. Chapter III of the Act, provides for income which does not form part of total income. Under section 10, income

Life Insurance Corporation of India Vs. Union of India (Uoi) and ors.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(14) and 192; Income Tax Rules, 1962 - Rule 2BB; Finance Act, 1955

Reported in : (2003)179CTR(Raj)432; [2003]260ITR41(Raj)

sub-clause for the for the assessment year 1989-90 and subsequent assessment years.'22. There was further amendment in the Finance Act, 1995, with effect from July 1, 1995, which substituted the words 'as may be prescribed' for the expression 'as … some of the relevant provisions of law and the circulars which have material bearing on the controversy involved.20. Chapter III of the Income-tax Act, 1961, contains provisions for exemption of certain incomes. Its 33 clauses display different shades

Commissioner of Income-tax. Vs. M/S Sai Metal Works.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 260A, 40A(3), 143(3), 158BA(2), 158BH

answered in the negative, in favour of the revenue.9. Chapter XIV-B was inserted in the Act by the Finance Act, 1995 providing special procedure for undisclosed income found during the search for the block period. The said Chapter lays … under Tamil Nadu General Sales Tax, which is the highest of the actual annual sales in the last 3 years prior to expansion. deferral of sales tax will only be on the increased volume of production/sales; The

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2007)288ITR226(Hyd.)

to various years covered by the block assessment. We find that second proviso to Section 7(2) of the Finance Act, 1995, specifically provides that "the amount of income-tax computed in accordance with the provisions of Section 112 or 113 … be imposed on the tax determined under Section 113, appears in Part III relating to advance tax and the tax to be deducted at source … position in respect of levy of surcharge in a block assessment is totally different. It is pleaded that Chapter-XIVB is a self-contained code for the computation of undisclosed income and also for bringing it to tax, and

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Subject : Direct Taxation

Reported in : (1997)224ITR473AAR

Indeed, Section 41 of the Act comes into play only after the income is computed in accordance with Chapter III of the Act. In the case of income from securities Section 8 applies and under the second proviso … No. 10 of 1996 Vs.Income Tax Act, 1961 - Sections 161, 161(1), 161(1A), 164, 164(4), 166 and 245Q; Finance Act, 1970; Double Taxation Avoidance Agreement - Articles 5, 10(2) and 13 CIT (Addl.) v. Surat Art Silk Cloth … well as tax residency certificates to the effect that the companies are resident in Mauritius under the Income-tax Act, 1995, of that country have been filed and they are, therefore, resident in Mauritius. They are not liable to

Amit Hemendra Jhaveri Vs. Union of India

Court : Mumbai

Subject : Direct Taxation

for the Assessment Years 1994-95 and 1995-96, were pending before the Commissioner of Income Tax (Appeals). 4. The Finance Act, 1998 introduced the KVSS, 1998 with effect from 1 September, 1998 providing for settlement of tax disputes pending … making the declaration for settlement. 6. It appeared to the designated authority that as prosecution for offence under Chapter XVII of the Indian Penal Code had been launched against the petitioner, he may not be entitled to … (b) viz. Constitutionality of Section 95 of the KVSS, 1998. Factual Background:â” 3. The petitioner filed his return of income for the Assessment Year 1993-94

Dlf Universal Ltd. Vs. Appropriate Authority and anr. Etc.

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : (2000)160CTR(SC)401

was substituted by the Income Tax (Seventh Amendment) Rules, 1987. Sub-section (4) of section 269UC was inserted by Finance Act, 1995 with effect from 1-7-1995. Before the insertion of sub-section (4) this court in Appropriate Authority v. Tanvi Trading … of the bare details,5. We may now examine certain provisions of law relevant to the issues before us. Chapter XX-C consisting of sections 269U to 269UO was inserted in the Act by the Finance Act, 1986 with

Charak Pharmaceuticals (i) Ltd Vs. Union of India and ors.

Court : Delhi

Subject : Excise

Acts : Constitution of India - Article 226; Finance Act, 1962 - Sections 86 to 98

Reported in : 2000IIAD(Delhi)363; 2000(52)DRJ544; 2000(67)ECC749

'tax arrear' within the meaning of Section 87(m)(ii) of the Finance (No. 2) Act, 1998 (for short `the Finance Act'). 7. The petitioner filed an appeal against the order, dated 17th September, 1998, which is stated to be … dated 21st January 1999, pertaining to the additional excise duty demand (Rs.19,29,642/-) for the period from 1st September, 1995 to 31st January, 1998, filed by the petitioner under the provisions of the Kar Vivad Samadhan Scheme, 1998 … company, is engaged in the manufacture of P.P. Ayurvedic Medicines falling under Chapter Heading No. 3003.30 of the Central Excise Tariff Act, 1985. They were … parties, we proceed to decide the petition finally at this stage itself. 3. By this petition under Article 226 of the Constitution of India, the