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Commissioner of Income Tax, Bangalore Vs. Infosys Technologies Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17(1), 17(2) and 192; Finance Act, 1999; Securities Contracts (Regulation) Act, 1956 - Sections 2; Fourth Schedule Rules - Rules 6, 11(2) and 11(4)

Reported in : 2008BusLR235(SC); (2008)214CTR(SC)293; [2008]297ITR167(SC); JT2008(1)SC225; 2008(1)SCALE92; (2008)2SCC272

do not find merit in the contention advanced on behalf of the Department that Section 17(2)(iiia) inserted by Finance Act, 1999 w.e.f. 1.4.2000 was clarificatory and, therefore, retrospective in nature.11. We quote hereinbelow Section 17(2)(iiia), which reads as under:(iiia)

The Commissioner of Income-tax Vs. A.K. Khosla

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10, 14, 15, 16, 17, 17(1), 17(2), 17(3), 143(1), 143(3), 147 and 148; ;Indian Income Tax Act, 1922 - Section 7(1); ;Income Tax Rules - Rule 3; ;Finance Act, 1999 - Section 17(2); ;Finance Act, 2001; ;Finance Act, 2002 - Section 271; ;Securities Contracts (Regulation) Act, 1956 - Section 2; ;Constitution of India - Article 20(1)

297 ITR 167, has considered the scope of amended provision of Section 17(2)(iiia) which was inserted by the Finance Act 1999 with effect from April 1, 2000. The issue in that judgment is whether the said provision comes into

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 … determined undisclosed income at 60%. Apart from this, the A.O. also levied 17% as surcharge payable over and above the 60% tax. The assessee is … 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

infosys Technologies Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2003)86ITD342(Bang.)

it to even rope in the benefit arising from an ESOP. The insertion of Section 17(2)(c)(iiia) by the Finance Act, 1999, was only by way of an abundant caution. The proviso introduced to Section 17(2)(c)(iii) by Finance Act, 2000,

Commissioner of Income-tax and anr. Vs. Wipro Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17(2), 192, 201(1), 201(1A) and 260A; Finance Act, 1999

Reported in : [2009]319ITR156(KAR); [2009]319ITR156(Karn)

provision under the 1961 Act constituted an integrated code. The mechanism introduced for the first time under the Finance Act, 1999, by which 'cost' was explained in the manner stated above was not there prior to April 1, 2000. … Thomas, learned Counsel appeared for the respondent.2. Heard on admission. Records perused.3. The Revenue is in appeal under Section 260A of the Income-tax Act, 1961 against the order dated July 31, 2002, passed by the Income-tax Appellate … the TDS ?(c) Whether the Tribunal was correct in holding that Section 17(2)(iiia) of the Act was not clarificatory in nature and was not applicable

Commissioner of Income-tax and anr. Vs. Wipro Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 17(2), 192, 201(1), 201(1A) and 260A; Finance Act, 1999

Reported in : [2009]319ITR289(KAR); [2009]319ITR289(Karn)

option. Even the cost of acquisition as 'nil' came to be introduced in the 1961 Act by the Finance Act, 1999, only with effect from April 1, 2000. In fact, the later deletion of Sub-clause (iiia) is an indicator … appellants. Kum. Saina Mary Thomas, learned Counsel appearing on behalf of the respondent.2. This is an appeal under Section 260A of the Income-tax Act, 1961 against the order dated July 31, 2002, passed by the Income-tax Appellate … to deduct the TDS.Whether the Tribunal was correct in holding that Section 17(2)(iiia) of the Act was not clarificatory in nature and was not applicable

Coral Cosmetics Ltd. Vs. Union of India (Uoi)

Court : Mumbai

Subject : Excise

Acts : Finance Act, 1999 - Sections 131 and 132; Central Excise Act, 1944 - Sections 4, 37 and 37(2); Central Excise Rules, 1944; Central Excise (Amendment) Rules, 1997 - Rule 57F and 57F(17); Companies Act, 1956; Customs Tariff Act, 1975 - Sections 3; Central Excise Tariff Act, 1985; Constitution of India - Articles 14, 19(1) and 141

Reported in : 2009[16]STR371

V.C. Daga, J.1. The petitioners seek to challenge the constitutional validity of Section 131 and 132 of the Finance Act, 1999. By Section 131 of the Finance Act, Clause (xxviii) was inserted in Section 37(b) of the Central Excise … which they had exported. The Supreme Court while dealing with two statutory appeals, where the validity of Sub-Rule 17 of Rule 57-F was not a subject matter of challenge, held that Sub-Rule 17 must be read in

Commissioner of Customs versus M/S Canon India Pvt. Ltd.

Court : Supreme Court of India

Subject : Right to Information

Reported in : [2024]12S.C.R.202

in the case of Mangali Impex’s case expounds the correct interpretation of s.28(11) and whether s.97 of the Finance Act, 2022, which retrospectively validates the show cause notices with effect from 01.04.2023, is manifestly arbitrary and thus, violative … take into account the policy being followed by the Customs department since 1999 which provides for the exclusion of jurisdiction of all other proper officers … i. Review jurisdiction............................................................. 59 ii. The decision in Commissioner of Customs v. Sayed Ali..... 74 iii. Changes to Section 17 w.e.f. 11.04.2011 - the assessment of bill(s) of entry and shipping bill(s)......................................78 iv. Scheme of Sections 17 and

V.M. Salgaocar and Bros. Pvt. Ltd. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India - Articles 133, 136 and 141; Taxation Laws (Amendment) Act, 1984; Finance Act, 1985; Income Tax Act, 1961 - Sections 2(24), 17(2), 36, 40A(2) and 256(2)

Reported in : [2000]243ITR383(SC); JT2000(4)SC473; 2000(3)SCALE240; (2000)5SCC373; [2000]2SCR1169; AIR2000SC1623

of the said Act. These amendments were intended to take effect from April 1, 1985. However, subsequently, the Finance Act, 1985, sought to omit both the aforesaid provisions with effect from the date of their insertion, namely, April … Still aggrieved revenue came to this Court on appeal (C.A.No. 424 of 1999) on a certificate granted by the High Court under Section 261 of … of the directors in the books of the assessee company by applying the provisions of Section 40A(5) and Section 17(2) of the Act. The Income-tax Officer found that the assessee which was a company was borrowing large sums

V. M. Salgaocar and Bros. (P) Ltd., Etc. Vs. Commissioner of Income Ta ...

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : (2000)160CTR(SC)225

section 40A(5) of the said Act. These amendments were intended to take effect from 1-4-1985. However, subsequently, the Finance Act, 1985, sought to omit both the aforesaid provisions with effect from the date of their insertion, namely, 1-4-1985. … aggrieved revenue came to this court on appeal (C.A. No. 424 of 1999) on a certificate granted by the High Court under section 261 of … debit of the directors in the books of the assessee-company by applying the provisions of section 40A(5) and section 17(2) of the Act. The Income Tax Officer found that the assessee which was a company was borrowing large