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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 … levy of surcharge of Rs. 3,65,680 on the tax of Rs. 86,56,800 levied at the special rate of 60%.2. At the outset, it would be appropriate to refer to the reasons furnished by the Division Bench, which

Friends Overseas (P) Ltd. Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : (2001)73TTJ(Del)367

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 … per cent surcharge as income of the block period is liable to be assessed at flat rate of 60 per cent, without taking into account the surcharge as laid down in the finance Acts. It has been

H.B. Stockholdings Ltd. Vs. Joint Cit

Court : Delhi

Subject : Direct Taxation

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

wherein it has been held that 'Chapter XIV-B consisting of sections 158B to 158BH, was inserted by the Finance Act, 1995 with effect from l-7-1995 and section 113 was also simultaneously introduced by the Finance Act, 1995 with effect … assessing officer, thus, computed total undisclosed income of the block period at Rs. 40,13,30,660. The tax payable at 60 per cent on the undisclosed income was computed to the tune of Rs. 24,07,98,396. The assessing officer further

Mangilal S. JaIn Vs. Commissioner of Income-tax and anr.

Court : Karnataka

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 139(8), 140A, 140A(1), 158BFA, 215, 216, 217, 220(2), 234A, 234B and 234C; Finance (No. 2) Act, 1998 - Sections 87, 88 and 95

Reported in : ILR2003KAR2066; [2002]257ITR31(KAR); [2002]257ITR31(Karn)

into force on September 1, 1998, as per Chapter IV of the Finance (No. 2) Act, 1998 ('the Finance Act' for short). The appellant filed a declaration under the said scheme, under Section 89 of the said Act … is an assessee under the Income-tax Act, 1961 (the 'I. T. Act' for short). For the assessment year 1995-96 (accounting period ended on March 31, 1995), the appellant filed his return on March 26, 1997, declaring a … scheme as follows :Rs.Rs.Rs.Totalincome 2,59,600Taxthereon78,840Less :Rebate under section 881,193Taxpayable77,647 Advancetax paid 5,800 60,00065,800 Taxarrears11,847Incomerelatable to tax paid (Rs. 66,993) (Rs. 65,800+ rebate of Rs. 1,193)

Mangilal S. JaIn Vs. Cit and anr.

Court : Karnataka

Subject : Direct Taxation

Reported in : (2002)175CTR(Kar)347

force on 1-9-1998, as per Chapter IV of Finance (No. 2) Act, 1998 (hereinafter referred to as 'The Finance Act' ). The appellant filed a declaration under the said scheme, under section 89 of the said Act in … an assessee under the Income Tax Act, 1961 (hereinafter referred to as 'the Act'). For the assessment year 1995-96 (accounting period ended 31-3-1995), the appellant filed his return on 26-3-1997, declaring a total income of Rs. 2,59,030. … section 88 1,193 Tax payable 77,647 Advance tax paid 5,800 Tax paid 60,000 65,800 Tax arrears 11,847 Income relatable to tax paid (Rs. 66,993) (Rs.

T.S. Kumarasamy Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1998)65ITD188(Chennai)

crores cannot be sustained. The provisions of Chapter XIV-B have been brought on the statute book by the Finance Act, 1995 for assessing UDI of a person searched under section 132 of the Act for the block period of … Total Income Rs. 2,73,74,253 or As provided in section 158BC of the Act, he charged the tax at 60 per cent. on the undisclosed income computed by him in a sum of Rs. 2,73,74,250. The tax worked

Ksl and Industries Ltd. Vs. the Chairman, the Securities and

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

Subject : MRTP

Reported in : (2003)48SCL285SAT

Pvt. Ltd., an associate concern of MFL operating from the same premises and having common directors for providing finance through six multiple applications of 10 lac shares of Rs. 1.00 crore each in the Public Issue of … (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995 (the FUTP Regulations) debarring Shri S. K. Gupta, Shri Ashok Chawla, Shri … Ltd., also for receiving financial accommodation to enable him to apply for 60 lac shares in the Public Issue of MFL by way of six … the Respondent No. 1 (SEBI) on 29.11.2002 under section 11B of the Securities and Exchange Board of India Act, 1992 (the SEBI Act) read with regulation 12 of the Securities and Exchange Board of India (Prohibition of

TIn Plate Company of India Limited Vs. State of Bihar and ors.

Court : Jharkhand

Subject : Sales Tax

Acts : Bihar Finance Act, 1981 - Sections 7(3) and 42

Reported in : [2004]135STC385(Jharkh)

S.O. No. 478 dated 22nd December, 1995 in exercise of its power under Section 7(3)(b) of the Bihar Finance Act, 1981 which provides for the benefit of exemption from payment of sales tax on purchase of raw materials … coil for the production of 8588 MT of CRM product over and above the 2/3rd incremental capacity of 60,000 MT fixed under S.O. No. 478 on proportional basis which works out to 9889 MT only and also

All India Federation of Tax Practitioners and ors. Vs. Union of India ...

Court : Supreme Court of India

Subject : Service TaxConstitution

Acts : Finance Act, 1994 - Sections 65, 65(16), 66, 67, 68, 71, 72, 73 and 83; Finance (No. 2) Act, 1998; Constitution (Eighty-eighth Amendment) Act, 2003; Central Excise Act, 1944 - Sections 2, 3, 9C, 9D and 11B; Income Tax Act, 1961; Medicinal Act, 1955; Kerala Abkari Act; Cantonments Act, 1924 - Sections 60; Government of India Act, 1935 - Sections 100 and 142A; Uttar Pradesh Tax on Luxuries Act, 1995; Andhra Pradesh Tax on Luxuries Act, 1987; West Bengal Luxury Tax Act, 1994; Haryana Passengers and Goods Taxation Act, 1952 - Sections 3(3); Constitution of India - Articles 19(1), 245, 246, 246(1), 246(3), 248, 265, 268A, 269, 276, 276(1), 276(2), 276(3) and 366(29A)

Reported in : AIR2007SC2990; (2008)5CompLJ488(SC); (2007)211CTR(SC)449; 2007(120)ECC451; 2007LC451(SC); [2007]293ITR406(SC); JT2007(10)SC305; (2007)6MLJ1062(SC); 2007(10)SCALE178; 2007(7)SCC527

dated 22.2.2001 in Writ Petition No. 142/99 upholding the legislative competence of Parliament to levy service tax vide Finance Act, 1994 and Finance Act, 1998. According to the impugned judgment, service tax falls in Entry 97, List I … 62 of List II of the Seventh Schedule to the Constitution of India. Uttar Pradesh Tax on Luxuries Act, 1995 and certain other State enactments imposed luxury tax on tobacco by treating it as 'luxury' within the meaning … was an exhibitor of cinematograph films. A notice was issued to the appellant by the Cantonment Board under Section 60 of the Cantonments Act, 1924 imposing tax on entertainments. The said levy was challenged on the ground that

P.H.C.M. Gandhi, President Rica Employees Union (AITUC) Vellore Vs. Th ...

Court : Chennai

Subject : Education

far as the existing retirement age of 58 years concerned and direct the first respondent to implement G.O.Ms.No.147 Finance (HRM-IV) Finance Department dated 30.06.2014 passed by the Government of Andhra Pradesh to the members of petitioner union … on 01.10.1979. The Regional Training Institute, Vellore, has been registered under Act 27 of the Tamilnadu Societies Registration Act, 1995, on 03.07.1986 with Registration No.76 of 1986 in the office of the District Registrar, Vellore. 63. As per … to the members of petitioner union thereby fixing the retirement age as 60 years on superannuation with retrospective effect invoking the provisions of Rule Part … service, Government of Andhra Pradesh have issued G.O.No.147 dated 30.06.2014, amending sub section (1) of Section 3 of the Andhra Pradesh Public Employment (Regulation of