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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) … AO held that the total amount paid by the employees consequent to the exercise of option was Rs. 6.64 crores whereas the market value of those shares was Rs. 171 crores. He held that the 'perquisite value'

American Hotel and Lodging Association Educational Institute Vs. Centr ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Finance Act, 1998; Income Tax Act, 1961 - Sections 10(20A), 10(22), 10(22B), 10(23C), 11, 11(1), 11(5), 12, 12AA, 13, 60 to 63 and 245Q(1); Finance Act, 2001; Finance Act, 2002; Finance Act, 2007; Central Boards of Revenue Act, 1963; Income Tax Rules, 1962 - Rule 2CA

Reported in : (2008)216CTR(SC)377; [2008]301ITR86(SC); JT2008(6)SC379; 2008(7)SCALE588; (2008)10SCC509; 2008AIRSCW4996

scope of enquiry by the Prescribed Authority under Section 10(23C)(vi) read with the third proviso thereto inserted by Finance Act, 1998 w.e.f. 1.4.1999. In this case, Central Board of Direct Taxes ('CBDT') being the Prescribed Authority, at the … prescribed standarised form under Rule 2CA of the Income-tax Rules, 1962 i.e. Form No. 56D (See: page No. 62 of the civil appeal paper book).13. Over the next 5 1/2 years CBDT did not pass any order

D.D. Shah and Brothers Vs. Union of India (Uoi) and anr.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1A), 10(1), 35B(1A), 80IA, 80IA(4), 80IA(5), 80IA(6), 80IB, 80IB(2), 80IB(4), 80HH and 80HH(2); Rajasthan Sales-tax Act, 1954; Finance Act, 1999; Finance Act, 1961; Kerala General Sales tax Act, 1963; Central Sales-tax Act, 1956 - Sections 8(1), 8(3) and 8(3)(1); Central Sales-tax Rules - Rule 13; Tea Act, 1953 - Sections 3, 4 and 16A; Uttar Pradesh Sales-tax Act; Karnataka Sales Tax Act, 1957; Central Excise Act; Madhya Pradesh General Sales-tax Act, 1958 - Sections 2; Finance Act, 1978 - Sections 2(7); Finance Act, 1966 - Sections 2(5); Finance Act, 1967

Reported in : (2005)197CTR(Raj)1; [2006]283ITR486(Raj); 2004(3)WLC425

the special appeal.7. Section 80IB, under which the assessee has claimed deduction, was substituted for Section 80IA vide Finance Act, 1999, w.e.f. 1st April, 2000. Prior to its enactment, Section 80IA was inserted in the Act of 1961 vide … tea in certain proportion. The assessing authority placed reliance on Dy. CST v. Pio Food Packers 46 STC 63 (SC) for holding that even after blending, tea remained tea and blending does not bring out a distinct

Sh. Prit Pal Singh Uppal, S/O Sh. Sant Singh Vs. Union of India (Uoi), ...

Court : Delhi

Subject : Customs

Acts : Customs Act, 1962 - Sections 77, 108, 113 and 129DD; Foreign Exchange Management Act, 1999 - Sections 6(3); Foreign Exchange Management Export and Merit Regulations, 2006 - Regulation 5

Reported in : 120(2005)DLT70; 2005(82)DRJ599

Export and Merit Regulations 2006 as well as sub section (3) of Section 6 of Foreign Exchange Management Act, 1999. Taking the reasonable view, the authorities reduced the penalty of the applicant to Rs.4 lakhs. With that modification, … before the Government of India on 8th December, 2004. Joint Secretary of the Government of India, Ministry of Finance, did not remand the matter but himself decided the appeal on merits and reduced the penalty amount of

The Commissioner of Income Tax-v Vs. Natraj Stationery Products (P) Lt ...

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80IA, 80IA(2), 80IB, 80IB(3), 143(1) and 260A; Finance Act, 1991; Finance Act, 1992; Finance Act, 1993; Finance Act, 1994; Finance Act, 1995; Finance Act, 1996; Finance Act, 1997; Income Tax (Amendment) Act, 1998; Finance Act, 1998; Finance Act, 1999

Reported in : (2009)222CTR(Del)430; [2009]312ITR22(Delhi); [2009]177TAXMAN168(Delhi)

undertaking.9. It would be relevant for the purpose of present appeals to note that by virtue of the Finance Act, 1999 with effect from 01.04.2000, Section 80-IA of the Act was bifurcated into two sections namely 80-IA and 80IB.

Timken France Sas Vs. Director of Income-tax

Court : Authority for Advance Rulings

Subject : Land Acquisition

Reported in : (2008)BusLR60

available in the first proviso to Section 48." 10. The proviso to Section 112(1) was introduced by the Finance Act, 1999 with effect from 1.4.2000. The background for introducing the proviso will be adverted to later. Prior to the … second proviso, it was conceived as a measure of off-setting the effect of inflation vide CBDT circular No. 636 dated 31.8.1992 containing explanatory Notes on the provisions of Finance Act, 1992. The cost of acquisition of asset

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 … where intended, there can be no justification to read retrospectivity into the amendment made by Clause (a) of Section 6 of the amending Act which does not contain any word to that effect.12.30 Further, in the case of

Commissioner of Income Tax Vs. A.M. Habeeb

Court : Kerala

Subject : Direct TaxationCivil

Acts : Income Tax Act, 1961 - Sections 249(1), 253(6), 260A, 260A(2) and 260A(7); Wealth-tax Act, 1957 - Sections 27A; Kerala Court Fees and Suits Valuation Act, 1959 - Sections 52A - Schedule - Article 3; Finance Act, 1999; Code of Civil Procedure (CPC) , 1908 - Sections 100; Kerala Court Fees and Suits Valuation (Amendment) Act, 2003

Reported in : (2004)188CTR(Ker)100; [2004]268ITR344(Ker); 2004(2)KLT202

on which the fee for appeal provided under Section 260A of the IT Act was omitted by the Finance Act, 1999 is virtually resurrected in the Court Fees Act and that unlike under the very scheme of the Court … in cases where the appeals are filed by the assessees before the first appellate authority on or after 6th March, 2003. The Revenue had accordingly sought for a declaration that the liability of the Revenue for payment

Anurag Pictures Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Direct Taxation

Reported in : (2004)90ITD669(Coch.)

deduction under Section 80HHC.Further resorting to the newly inserted provisions of Section 80HHF with effect from 1-4-2000 by Finance Act 1999 granting tax holidays to the assessees engaged in the cinematography business, the assessing officer held that such tax … the assessee contends that the question whether drawings, diskette manual etc. imported are goods are discussed at page 66 of the judgment, and it was held that these are goods. Further more, he contended, Their Lordships held

indo NissIn Foods Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2004)83TTJ(Bang.)440

regarded as income earned in India. The said section has been amended w.e.f. 1st April, 2000 by the Finance Act, 1999.6. The AO was of the view that the assessee-company did not deduct taxes at source in respect of