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The Commissioner of Income Tax and Vs. Brindavan Beverages Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 2(19AA), 2(42C), 41[2], 45, 48, 50B, 80IA(4), 80IB(4), 80IB(5), 80HHC, 80HHC(3), 80HHC(3A), 80HHC(4), 80HHC(4A), 115A, 115B, 115BB, 115C, 115J, 115JA, 115JA[1], 115JA[2], 115JA[4], 115JB, 143(2), 161[1A], 164, 164A, 207, 208, 209, 209[1], 210, 211, 215, 234, 234A, 234B, 234C, 234G, 254(2) and 260A; Finance [No. 2] Act, 1996; Finance Act, 1997; Finance Act, 1998; Finance Act, 1999; Finance Act, 2000 - Sections 2; Companies Act, 1956 - Sections 210; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1) and 17(1); Constitution of India - Article 141

Reported in : (2010)228CTR(Kar)1; [2010]186TAXMAN233(Kar)

of the Act for the purpose of computing advance tax and the rate is provided in part-III of Finance Act, 2000 is a clear indication of the scheme of legislature not to compel an assessee to do an impossible … asset that the expenditure incurred for effecting the transfer is not ascertainable and thereby the charging section i.e. Section 45 of the Act failing due to impossibility of computing the capital gains in terms of Section 48 of

The Dy. Commissioner of Vs. Shri Bhim Singh Lather

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2006)282ITR151(Delhi)

to above were all before the introduction of Clause (c) Which was with effect from 1-4-2004 added by Finance Act, 2003, Explanatory notes where of are reported in 263 ITR 62 (St.) Circular No. 7 dated 5-9-2003 at … It may fee mentioned that Bapna's case was rendered on 13th September, 2000 and at that time Clause (c) was not there in existence which … not justified in declaring any income in respect of Asst. Year 1997-98. According to the Assessing Officer., Under Section 45(5)(b) irrespective of the method of accounting followed by the assessee the amount of enhanced compensation was assessable only

Asstt. Cit Vs. Unity Care and Health Services (and

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2006)103ITD53(Bang.)

ITR 594. It is only to overcome such a situation, sub-section (4) of section 45 was inserted by Finance Act, 1987, with effect from 1-4-1988.The insertion of section 47(dii) has not changed the situation. Section 47(xiii) merely excludes … appreciating the fact that the assessee-firm has transferred all its assets to the company,with effect from October 3, 2000, and the claim for depreciation is not admissible in the hands of the firm, since there were no

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

Court : Supreme Court of India

Subject : Direct Taxation

the words “that Assessing Officer shall proceed” the words “under Section 158BC” was inserted w.e.f. 01.06.2002 by the Finance Act, 2002. It was contended that the amendment was specifically brought to cure the anomaly and the fact that … 7.50% 2(3) 1998 Section ­ ­ ­ ­ ­ 2(3) 1999 Section ­ ­ ­ ­ ­ 2(3) 2000 Section 10% 10% 10 10% 10% 2(3) % 2001 Section 12% 12% 12 12% 13% 2(3) or % 17% … Vatika Township Private Limited (supra). In paragraphs 37 to 40, 44 and 45, it is observed and held as under: “Answer to the reference :23.

Deputy Commissioner of Income Tax Vs. Verifone Software Systems (P)

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2003)84ITD521(Bang.)

that the Gauhati High Court has struck down the constitutional validity of the retrospective amendment made by the Finance Act, 1.993, to Section 143(1A) of the Act. The third reason given is that when the CIT(A) passed the … Corporation. The Tribunal reversed that order by its order dt. 30th June, 2000. The Tribunal's order is also on record. The Tribunal took two different … due to the insertion of Explanation to Section 2(1 A), retrospectively, the income was held as taxable under Section 45. [CIT v. Smt Kazia Munnisa Begum (1995) 213 ITR 172 (AP)).20. He has further pointed out to the

P.G. and Sawoo P. Ltd. and anr. Vs. Assistant Commissioner of Income-t ...

Court : Kolkata

Subject : Direct Taxation

Acts : West Bengal Premises Tenancy Act; ;Income Tax Act - Sections 2, 2(45), 4, 5, 14, 22, 23, 23(1), 25B, 143(1), 147, 148, 148(2), 149(1), 234B and 234C; ;Finance Act, 2000 - Section 25B

Reported in : (2008)221CTR(Cal)36,[2008]307ITR243(Cal),[2009]176TAXMAN326(Cal)

Hope (India) Ltd.'s case : [1999]238ITR740(Cal) has been accepted by Parliament when Parliament introduced Section 25B by the Finance Act of 2000 with effect from April 1, 2001, relevant to the assessment year 2000-01. As a result of

Dollar Company Pvt. Ltd. Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

Subject : Service Tax

claimed refund of the above amount of service tax, which was granted by the Asst.Commissioner. Later, after the Finance Act, 2000 came into force revalidating the aforesaid provisions struck down by the apex court and amending certain sections of … Act, 2000 came into force revalidating the aforesaid provisions struck down by the apex court and amending certain sections of the Finance Act, 1994, they repaid an amount of Rs. 54,230/- being the service tax covering the … of the Finance Act, 1994 ordering recovery of service tax of Rs. 45,175/- from the assessee for the period 16.10.98 to 31.7.99. The present appeal

Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 2(24), 17, 28, 41, 44, 45, 59, 80HHC, 139(1), 139(3), 143(1A), 143, 144, 147, 160(1), 256(2), 271, 271(1) and 280D; ;Taxation Laws (Amendment) Act, 1975; ;Finance Act, 2002 - Sections 271(1); ;Finance Act, 1993 - Sections 143(1A); ;Constitution of India - Article 141

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

have been concealed or inaccurate particulars have been furnished.'Section 271(1)(c) of the Act has been further amended by Finance Act, 2002, by which Clause (iii) and Expln. 4 has been modified. After the amendment section reads as follows … decision of the Punjab & Haryana High Court has been dismissed by the apex Court on 20th July, 2000. The decision of the apex Court in CIT v. Prithipal Singh & Co. (supra) is as follows :'We … under Clause (iv) of Section 28;(vi) any capital gains chargeable under Section 45;(vii) the profits and gains of any business of insurance carried on by

Arjun Malhotra vs.commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

(1) with insertion of sub-section (2) with effect from 1st April, 1964. However, Section 52 was deleted/omitted by Finance Act, 1987 with effect from 1st April, 1988 in view of the judgment of the Supreme Court explaining both … the assessment year 1998-99 but were transferred on 05.05.1998 (Assessment Year 1999- 2000) when the same were delivered by the bankers to the purchasers (Glad … to the term „transfer‟ in relation to capital assets as defined in Section 2(47) of the Act and Section 45(1) of the Act which states that profits and gains from transfer of the capital assets shall be deemed

Director of Income Tax, New Delhi vs.arjun Malhotra

Court : Delhi

Subject : Direct Taxation

(1) with insertion of sub-section (2) with effect from 1st April, 1964. However, Section 52 was deleted/omitted by Finance Act, 1987 with effect from 1st April, 1988 in view of the judgment of the Supreme Court explaining both … the assessment year 1998-99 but were transferred on 05.05.1998 (Assessment Year 1999- 2000) when the same were delivered by the bankers to the purchasers (Glad … to the term „transfer‟ in relation to capital assets as defined in Section 2(47) of the Act and Section 45(1) of the Act which states that profits and gains from transfer of the capital assets shall be deemed