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K. Venkata Reddy Vs. Commissioner of Income Tax, A.P.ii, Hyd. and Anot ...

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Finance Act, 1997 - Sections 33(1), 68(2), 88, 90 and 90(1); Central Treasury Rules - Rules 79, 80 and 81; Voluntary Disclosure of Income Scheme, 1997; Kar Vivad Samadhan Scheme, 1998; Indian Income Tax Act, 1922 - Sections 4(1); Limitation Act, 1908 - Sections 20; Finance Act, 1977 - Sections 67 and 67(1); Income Tax Act, 1961 - Sections 119(2); Finance (Amendment) Act, 1998 - Sections 90(2)

Reported in : 2001(4)ALD51; 2001(4)ALT160

the case of Kangold (India) Ltd., (supra) with referenceto the Voluntary Disclosure of Income Scheme, 1997 under the Finance Act, 1997. In that case the petitioner made a declaration on December 30, 1997 under the scheme. As per Section … 1994-95, showing the tax arrears at Rs.74,390/- and Rs.1,14,598/- respectively, A certificate of Intimation in Form 2-A under Section 90(1) of the Finance (No.2) Act, 1998 was issued to the petitioner. In terms of the Intimation, the Petitioner

Vardhaman Chemicals, Near Sharda Ispat, Kamptee Road, Nagpur, a Partne ...

Court : Mumbai

Subject : Excise

Acts : Central Excise, 1944 - Sections 35B; ;Finance (2) Act, 1998 - Sections 88, 90 and 90(1); Finance Act, 1997 - Sections 67, 67(1) and 68(2)

Reported in : 2002(4)BomCR537; (2002)2BOMLR826; (2003)185CTR(Bom)163; 2003(160)ELT132(Bom); [2003]263ITR460(Bom); 2002(2)MhLj187

scheme known as Voluntary Disclosure of IncomeScheme 1997 (VDIS) and as per the provisions of Section67 of the Finance Act, 1997, the Assessee had to makepayment of tax payable on the amount of income disclosedwithin a period of three … the respondent no.1, inexercise of its powers conferred by Subsection 1 ofSection 90 of the Finance (2) Act, 1998, determined anamount of Rs. 2,11,021/- as … that theassessee had taken excess MODVAT credit. The said orderwas challenged before the CEGAT by filing an appealunder Section 35-B of the Central Excise & Salt Act,1944, which came to be registered as Appeal No.E/845/96-Bom. While the

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 … appeals we are concerned with the assessment years 1992-93, 1993-94, 1995-96 and 1997-98. A proviso has since been inserted in Section 36(1)(iii) of the 1961 … 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

Commissioner of Income Tax Vs. Jindal Exports Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(1), 2(43), 16(3), 24(2), 90, 90A, 91, 115J, 115JA, 115JA(1), 115JAA, 115JAA(1), 115JAA(2), 115JAA(4), 115JAA(5), 119, 139, 140A, 140A(1), 142, 143, 143(1), 144, 147, 148, 154, 155, 158BC, 207, 208, 209, 209(1), 210, 215(2), 234A, 234B, 234B(1), 234B(2), 234C, 234C(1), 245D(4), 245D(6), 250, 254, 260, 262, 263 and 264; Finance Act, 2006; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 1997; Finance (No. 2) Act, 1996

Reported in : (2009)221CTR(Del)8; [2009]314ITR137(Delhi); [2009]179TAXMAN391(Delhi)

: (1998) 230 ITR 54 which contained the Explanatory Notes on provisions relating to direct taxes in the Finance Act, 1997. The relevant portions of the said para 45 are as under:MAT on companies45.1 The minimum alternative tax (MAT) … and tax deducted or collected at source is allowed. MAT credit under Section 115JAA, relief of tax under Section 90 and deduction from income-tax payable under Section 91 are not taken into account while charging interest under the

Onkar S. Kanwar and ors. Vs. Union of India and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1998 - Sections 90(1); ;Kar Vivad Samadhan Scheme (Removal of Difficulties) Order, 1998; Constitution of India - Article 14; Companies Act, 1956; Central Excise Rules, 1944 - Rules 173Q and 209A; Income-tax Act, 1961 - Sections 269C, 269D and 269H

Reported in : (2001)168CTR(Ker)352; [2001]249ITR258(Ker)

been adjudicated upon in relation to the co-noticee as well as the declarant under Section 90(1) of the Finance Act, 1998. The amount deposited by the petitioners (stated to be Rs. 1 lakh) will be refunded to the … Excise Rules, 1944. The petitioner as well as the company replied to the show-cause notice on November 17, 1997. By a common order dated May 8, 1998, respondent No. 3, inter alia, imposed a penalty of Rs.

Reckitt and Colman of India Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2001)77ITD198(Kol.)

definition of "total turnover" as provided in section 80HHC itself. It may be mentioned in this connection that Finance Act, 1990 introduced clause (bb) to the Explanation to section 80HHC, with effect from 1-4-1991 in accordance with which, … profits of business as computed under the head "profits and gains of business and profession" as reduced by 90% of any sum referred to in clauses (iiia), (iiib) and (iiic) of section 28 or of any receipt

Crown Re-roller (P) Ltd. Vs. State of Orissa in the Department of Fina ...

Court : Orissa

Subject : Sales Tax

Acts : Orissa Sales Tax Act, 1947 - Sections 14; Orissa Sales Tax Rules, 1947 - Rule 39;

Reported in : 2004(I)OLR107; [2005]139STC305(Orissa)

for decision is whether the State Government wh.ile exercising the power of issuing a notification under the Bihar Finance Act could deny benefits declared by the State Government under its Industrial Incentive Policy and the Supreme Court held … Mr Bijoy Anand Mohanty, learned counsel for the petitioner, submitted that by the judgment dated 23rd of June, 1997 of this Court in O.J.C. No. 8052 of 1992, this Court had held that the petitioner was entitled … issuance of notification by the State Government in exercise of power under Section 7 of the Bihar Finance Act, it is true that issuance of … amount to be refunded and refund the same to the petitioner within 90 (ninety) days from the date of such application failing which the petitioner

Tulsidas V. Patel (P.) Ltd. Vs. Wealth-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1998)65ITD287(Mum.)

years the Tribunal held that the whole property was not liable for wealth-tax under section 40 of the Finance Act, 1983, and in support thereof, the assessee produced the Tribunal's order dated 9-12-1994 for assessment years 1988-89 and

Abu-dhabi Commercial Bank Ltd. Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

same as the one that existed in the explanation to Section 90 prior to its deletion by the Finance Act, 2004; and, therefore, the ratio of the rulings in the case of Decca Survey Overseas Ltd., IT Appeal … order dated 14-2-2007 the cross appeals of the assessee and the revenue for assessment years 1995-96, 1996-97 and 1997-98 and vide the same order, two cross-objections of the assessee were also decided for assessment years 1995-96 and

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

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

short issue in this appeal is whether the levy of surcharge in terms of the provisions of the Finance Act, 2002, is valid in a block assessment made under Section 158BC of the Income-tax Act. The tax has … 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; "regular assessment" means the assessment made under … adopted as applicable to the assessment year 1996-97 or the assessment year 1997-98, the rate of surcharge being different for the two years? The provisions