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C.I.T and Anr Vs. M/S Yokogawa India Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

set out below.5. Section 10A of the Act, as it stood prior to the amendment made by the Finance Act, 2000, (amendment effective from 1.4.2001) was as follows:“10A. (1) Subject to the provisions of this section, any profits and … Section 10A are required to be made and allowed at the stage of computation of total income under Chapter VI of the Act notwithstanding the absence of any specific provision in Chapter VI to the said effect. In

Om Prakash Sharma Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Subject : Direct Taxation

Reported in : (2004)83TTJ(JP.)246

is clearly mentioned in Section 2 of the Finance Act. The part I of the First Schedule of Finance Act, 2000 prescribes the levy of surcharge at 10 per cent on income-tax computed in accordance with Section 113. But … cent on tax on undisclosed income: (a) There is special procedure for the assessment of search cases, The Chapter XIV-B of IT Act deals with the said special procedure. Tax on undisclosed income should be computed in … in respect of the loose papers. The officers of investigation wing again visited the house of the assessee on 25th April, 2000. No fresh search

Shree Ganpati Synthetics and ors. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Service Tax

Reported in : (2002)(81)ECC353

were dropped. However, in the Finance Bill, 2000 Clauses 112 and 113 were introduced and on enactment of Finance Act, 2000 these two clauses became Sections 116 and 117 of Chapter V of the Finance Act, 2000. He submits … 2.6.98 in the present cases. Accordingly, we agree with the findings of the Id. Commissioner reading as. In view of the above the subject Order-in-Original is revised under Section 84 of Chapter V of Finance Act, 94,

Shree Ganpati Synthetics Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Service Tax

Reported in : (2002)LC176Tri(Delhi)

were dropped. However, in the Finance Bill, 2000 Clauses 112 and 113 were introduced and on enactment of Finance Act, 2000 these two clauses became Sections 116 and 117 of Chapter V of the Finance Act, 2000. He submits … the Hon'ble Supreme Court in the case of Laghu Udyog Bharti v.UOI held the relevant provisions as ultra vires. The proceedings pursuant to the SCNs were dropped. However, the Department again issued SCNs. The Id. Commissioner held

Ruby Woollen (P) Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Service Tax

Reported in : (2002)(81)ECC796

case of Laghu Udyog Bharati [1999 (112) E.L.T. 365 (S.C.)] and others. With the amendment retrospectively under the Finance Act, 2000 revision proceedings under Section 84 of Chapter V of the Finance Act, 1994 were initiated and the learned … This is an appeal against the order passed on Review by the Commissioner of Central Excise holding, "In view of the above subject order-in-original is revised under Section 84 of Chapter V of Finance Act, 1994 and

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 … accordance with the provisions of Chapter IV without giving effect to set off of brought forward losses under Chapter VI or unabsorbed depreciation under Sub-section (2) of Section 32;(b) of a firm, returned income and, total income assessed … comprising of previous years relevant to 10 assessment years, i.e., 1991-92 to 2000-01, including the period from 1.4.2000 to 17.1.2001.FACTS3. On 17.1.2001 a search under

Honeywell International (India) Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2007)108TTJ(Delhi)924

the tax is payable under the provisions of the Act.Section 10A of the Act, as substituted by the Finance Act, 2000, w.e.f.1st April, 2001, provides for deduction in respect of profits and gains derived by the eligible industrial undertaking … mean the total income computed in accordance with the provisions of the Act, before making any deduction under Chapter VI-A of the Act. The scheme of the Act as to the manner of computation of total income,

Regency Exports (P) Ltd. Vs. Joint Cit Spl. Range 32

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)8SOT116(Mum.)

are permissible and whether section 80A would be operative on combined deductions.Sub-section (9A) to section 80-IA introduced by Finance Act (No. 2) of 1998 with effect from 1-4-1999 reads as under: "9A. Where any amount of profits and … that extent shall not qualify for deduction under any other provisions of Chapter VIA. The learned Commissioner (Appeals) then referred to Memorandum explaining the provisions … was not declaratory as well as it was only prospective to be effective for and from assessment year 2000-01.In our considered view the computation of deduction under section 80HHC and section 80-IA would not affect each other. … This order came up for consideration before ITAT in ITA No. 2347/Mum./04. Vide their order dated 11-7-2005. Hon'ble ITAT observed as under : "We have

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

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

in Part III of First Schedule of the Finance Act, 1999, have also been correspondingly introduced in the Finance Act, 2000, in Part I of the First Schedule, so as to make it applicable to assessment year 2000-2001 which … 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 … in respect of search and Seizure assessments made under Chapter-XIV-B. However, in view of the fact that we have held the entire assessment to be

Satyabhushan Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

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

CIT(A). It was further submitted that rates of tax are determined by annual Finance Act and since the Finance Act, 2000 provides for levy of surcharge on tax levied under Section 113, the same need to be upheld. . … If any income is to be estimated, same can be by way of regular assessment but not under Chapter XIV-B. The proposed addition was objected by assessee stating that no such income is earned as no material … of the previous year of every person : Provided that where by virtue of any provision of this Act income-tax is to be charged in