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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.)

clear, and they mandated the levy of surcharge. In this context, he referred to the provisions of annual Finance Act, 1999, Schedule-I, which clearly mandated that the income-tax levied in terms of Section 113 shall be increased by a … 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

Harinarayan G. Bajaj Vs. Union of India (Uoi), Through Secretary, Mini ...

Court : Mumbai

Subject : Company

Acts : Securities Contract and Regulations Act, 1956 - Sections 2 and 4; Companies Act, 1956 - Sections 2(1), 2(7), 2(10), 3, 4(5), 4(6) and 397; Industrial Disputes Act; Companies Act, 1913 - Sections 153C; Companies Act - Sections 55A; Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 1994 - Sections 6, 9(1) and 9(2); Securities and Exchange Board of India Act, 1992 - Sections 1(1), 4, 11(B), 20 and 24; Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - Sections 10, 11(1) and 12; T.N. Electricity (Taxation on Consumption) Act, 1962 - Sections 12 and 13; Tamil Nadu Tax on Consumption or Sale of Electricity Act, 2003 - Sections 20 and 20(1); Indian Succession Act, 1865; General Cla

Reported in : 2008(1)ALLMR604; 2008(2)BomCR780; [2009]147CompCas579(Bom); [2008]82SCL79(Bom)

shareholding or management rights or shareholdersagreements or voting agreements or in any other manner'Regulation 3 (d)'Nothing contained in Chapter III of these regulations shall apply toacquisition of shares:Regulation 3 (1)(k)'Nothing contained in Regulation 10, 11, 12 of these … of Mauritius), which had agreed to acquire voting equity share capital of an Indian registered company, viz., SRF Finance Ltd., and, therefore, the impugned order was passed by S.E.B.I. rejecting the petitioner'scomplaint, though the fact remains that … 100 shares. The petitioner has tried to explain that between 1997 and 1999, the petitioner'sshares were sold partly by the pledgees to whom the shares … Authority under Section 20 of the Securities and Exchange Board of India Act, 1992, which dismissed the appeal preferred by the petitioner against the order

Mohan Breweries and Distilleries Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2008)114TTJ(Chennai)532

facts of the case. These order were delivered before the amendment to Section 80-IA. By amendment by the Finance Act, 1999 w.e.f. 1st April, 2000, Section 80-IA(2) was introduced which has given the option to the assessee to opt … mean the total income computed in accordance with the provisions of the Act, before making any deduction under Chapter VI-A, with reference to the profits and gains of an eligible business only to which Section 80-IA apply

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96ITD1(Mum.)

income received from a mutual fund was exempt under the provisions of section 10(33) of the Act in Chapter III of the Income Tax Act. The heading of Chapter III read "Incomes which do not form part of … House of Lords in the case of Lupton. In that case forward stripping had been banned by the Finance Act, 1960, but the House of Lords did not think that the subsequent amendment should prejudice or cloud the … pre-ordained transaction. His client invested in the units of mutual fund in 1999 and sold them in 2001. Yet the loss was disallowed. At any

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

income received from a mutual fund was exempt under the provisions of Section 10(33) of the Act in Chapter III of the Income-tax Act. The heading of Chapter III read "Incomes which do not form part of total … House of Lords in the case of Lupton. In that case forward stripping had been banned by the Finance Act, 1960, but the House of Lords did not think that the subsequent amendment should prejudice or cloud the … pre-ordained transaction. His client invested in the units of mutual fund in 1999 and sold them in 2001. Yet the loss was disallowed. At any

Commissioner of Income Central Ii Vs. Suresh N. Gupta

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 4, 4(1), 32, 32(2), 68, 69, 69A, 69B, 69C, 112, 113, 115A, 115AB, 115AC, 115ACA, 115AD, 115B, 115BB, 115BBA, 115E, 115JB, 132, 132A, 132B, 139, 139(1), 142, 142(1), 143, 143(1B), 143(2), 143(3), 144, 147, 148, 158B, 158BA, 158BA(1), 158BA(2), 158BB, 158BB(1), 158BC, 158BH, 161, 161(1A), 164, 164A, 167B, 245D and 245D(4); Finance Act, 2001 - Sections 2(1), 2(2) and 2(3); Finance Act, 2002 - Sections 113; Finance Act, 1995; Constitution of India - Articles 269, 270 and 271

Reported in : (2008)214CTR(SC)274; [2008]297ITR322(SC); JT2008(1)SC208; 2008(1)SCALE99; (2008)4SCC362; 2008AIRSCW1066

appeal.Points for determination:4. Two points arise for determination: Whether on the facts and circumstances of this case, the Finance Act, 2001 ('FA' for short) was applicable to 'block assessment' under Chapter XIV-B in respect of the search carried … 113 [See: (1995) 212 ITR 69]. On the contrary, a bare perusal of various Finance Acts starting from 1999 indicates that Parliament was aware of rate of tax prescribed by Section 113 and yet in the various

In Re: Universities

Court : Authority for Advance Rulings

Subject : Direct Taxation

Reported in : (2005)194CTRAAR289

Superannuation Scheme Income Tax Act, 1961 - Sections 45(1), 48, 112, 112(1), 115I, 115O, 115AD, 115AD(3) and 245(1); Finance Act, 1999; Finance (No. 2) Act, 2004; Securities Contracts (Regulation) Act, 1956 - Section 2Union of India v. A. Sanyasi … in respect of "Tax on income of FIIs from securities or capital gains arising from their transfer" in Chapter XII which deals with "Determination of tax in certain special cases". Section 115AD being a special provision will … ruling on question No. 1, this question does not arise. Question No. 3 that the provisions of Section 115AD of the Act would apply to

Tedco Investment and Financial Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Rajnarain Singh 's case (supra) was misplaced.It was further stated that the reliance on Section 43D substituted by Finance Act, 1999 with effect from 1-4-2000 was also misplaced which is in respect of public financial institutions, scheduled banks and … in page 7 of his Order from para 3.6 onwards to Section 43B are all not relevant because Chapter III-B of the Reserve Bank of India Act, 1934 has the effect of overriding the provisions of mercantile

Universities Superannuation Scheme Limited as Trustee of Universities ...

Court : Authority for Advance Rulings

Subject : Land Acquisition

It needs to be mentioned here that the proviso to sub-section (1) of section 112 (inserted by the Finance Act 1999 w.e.f. 1.4.2000), extends the benefits of limiting the rate of tax to 10% in respect of any income … of “tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer” in Chapter XII which deals with “determination of tax in certain special cases”. Section 115AD being a special provision will … (FII) with the Securities and Exchange Board of India (SEBI) on March 3, 1998 and accordingly it has been investing in securities in India. The

M/s. D.P. Jain and Company Infrastructure Pvt. Ltd. Vs. Union of India ...

Court : Mumbai

Subject : Service Tax

enacted. By this enactment, sections 97 and 98 have been inserted in Chapter V of the Finance Act, 1994. Section 97 of the Finance Act, … tax amounting to Rs.10,25,72,125/- should not be demanded from it under the provisions of section 73(1) of the Finance Act, 1994. Interest under section 75 was proposed to be recovered and penalties under sections 76, 77 and 78 … 50. Mr. Jetly has relied upon the following judgments. (i) M. C. Mehta vs. Union of India, AIR 1999 SC 2367 (ii) Roshan Lal and Ors. vs. International Airport Authority of India and Ors., AIR 1981 SC … namely, maintenance, management and repair service, the findings are as under:- ..... iii. It is noteworthy to mention that it has not been disputed by