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K.l. Swamy Vs. The Commissioner Of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

tax along with the return. It is submitted that this lacuna was noticed by Parliament and by the Finance Act, 1999, the words “Section 158BC” have been inserted in Section 140A w.e.f. 01.06.1999. It is submitted that for the … for belatedly filing the return of income for the block period and also the levy of surcharge under Section 113 of the Income Tax Act.3. For the sake of convenience Civil Appeal No.3706 of 2012 arising out of

The Commissioner of Income Tax Vs. Ansal Properties and Ind. (Pvt.) Lt ...

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 113, 132, 154, 263 and 263(1); Finance Act, 1999; Finance Act, 2000; Finance Act, 2001

Reported in : [2009]315ITR225(Delhi); [2009]178TAXMAN201(Delhi)

did not have any retroactive effect. The proviso was inserted with effect from 1.6.2002 by virtue of the Finance Act, 1999 and there is nothing to indicate that it would operate from retroactively.10. The impugned order of the Tribunal … levied with reference to the search conducted before 01.06.2006, the effective date of insertion of the proviso in Section 113 of the Income Tax Act, 1961 ?(2) Whether in the facts and circumstances of the present case, the

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

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 … 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 … Whether the AO had erred in imposing surcharge at 17% on the tax amount of Rs. 97,456/- under Section 113 of the Income-tax Act, 1961 ('1961 Act') for the 'block period' comprising of previous years relevant to 10

Commissioner of Income-tax Vs. M.S. Aggarwal

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 113 and 154; Finance Act of 2002

Reported in : [2009]308ITR69(Delhi); [2009]178TAXMAN311(Delhi)

Tribunal took the view that the proviso inserted to Section 113 of the Income-tax Act, 1961, by the Finance Act of 2002, with effect from June 1, 2002, was prospective and that surcharge could only be levied in … of searches conducted after June 1, 2002. The search in the present case was conducted on November 25, 1999.4. The second point on which the Tribunal agreed with the assessee as well as the conclusion arrived at

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

Satyabhushan Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2004)84TTJ(Bang.)165

case search was conducted on 15th Dec., 1999. The law prevalent on 15th Dec., 1999, will apply. The Finance Act, 1999 does not contain any provision for levy of surcharge. Thus on the date of search, there was no … first schedule to the Finance Act. The Finance Act provides that if income-tax is computed in accordance with Section 113, same is required to be increased by surcharge at the rate specified therein. 8.2 Mr. Khincha, learned counsel

H.B. Stockholdings Ltd. Vs. Joint Cit

Court : Delhi

Subject : Direct Taxation

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

addition was sustained.4.2 The ground of the assessed in regard to surcharge was also dismissed by observing that Finance Act, 1999 provides for imposition of surcharge over and above the tax computed under section 113. Accordingly the levy of

Mr. Raya R. Govindarajan, Prop. Vs. the Asst. Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2007)288ITR150(Chennai)

similar view.5. On the contrary, Shri K. Anangapal, the learned Departmental Representative (D.R.) submitted that the Parliament by Finance Act, 1999 provided for levy of surcharge over end above the rate of income tax prescribed under Sections 112 and … is whether there can be a levy of surcharge over and above the rate of tax prescribed under Section 113 of the Income Tax Act, 1961.2. Shri Sridhar, the learned counsel for the assessee submitted that there was

Cit Vs. Devi Dass Malhan

Court : Delhi

Subject : Direct Taxation

Reported in : [2009]315ITR231(Delhi)

of a proviso to Section 113 of the Income Tax Act, 1961 with effect from 1-6-2002 by the Finance Act, 1999.4. The assessed was aggrieved by the imposition of surcharge and, thereforee, filed an appeal before the Commissioner of

Commr.of Income Tax-i,new Delhi Vs. Vatika Township P.Ltd.

Court : Supreme Court of India

Subject : Land Acquisition

particular case the search and seizure operation took place on 14.07.1999 and treating this date as relevant, the Finance Act 1999 was to be applied.6. The CIT, accordingly, cancelled the order dated 09.09.2003 not levying surcharge upon the assessee, … | | |1998 |Section 2|- |- |- |- |- | | |(3) | | | | | | |1999 |Section 2|- |- |- |- |- | | |(3) | | | | | | |2000 |Section 2|10% |10% … assessees, the question of law which has fallen for consideration is as to whether the proviso appended to Section 113 of the Income Tax Act (hereinafter referred to as 'the Act') which was inserted in that Section by