Advanced Search Results

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 out … 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

Plastiblends India Ltd., a Company Incorporated Under the Companies Ac ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 29 to 43A, 72, 80A, 80AA, 80AB, 80B(5), 80E, 80HH, 80HH(6), 80HH(7), 80I, 80IA, 80IA(5), 80IA(8), 80IA(10), 80IB, 80IB(13), 143(1), 143(3), 147 and 260A; Companies Act, 1956; Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986 - Sections 34(1); Finance (No. 2) Act, 1980; Finance Act, 2001 - Sections 5

Reported in : (2009)223CTR(Bom)291; [2009]178TAXMAN397(Bom)

the Act which continued till the assessment year 2002-2003, when explanation to Section 5 was inserted by the Finance Act 2001 with effect from 1.4.2002 and, therefore, the Tribunal erred in holding that omission of Section 34(1) by Taxation … in the return for the normal computation of income has to be allowed while computing the deductions under Chapter VI-A viz. Sections 80HH, 80-IA, 80-IB etc. of an industrial undertaking?9. The Special Bench by its order dated 9th

Dabur India Limited Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 5, 6, 9, 14, 28, 29, 30 to 43D, 59, 71, 72(1), 72(2), 73(3), 80A, 80A(1), 80AB, 80B, 80B(5), 80C to 80U, 80IB, 80HHC, 143(1), 143(2) and 260A; Taxation Laws (Amendment and Miscellaneous Provisions) Act; Finance Act, 2001; Finance Act, 1988

Reported in : 219(2008)DLT152

decide in Vahid Papers Converters (supra) was, whether Explanation 5 to Section 32 of the Act inserted by Finance Act, 2001 was clarificatory in nature and hence, would apply to earlier years as well. The ITAT considered it unnecessary … normal course in contrast to calculation of income i.e, profit and gain for the purpose of deduction under Chapter VI-A of the Act, in particular, Section 80IB and Section 80HHC.9.2 The Scheme of the Act:- Chapter I of

M/S Wipro Limited Vs. The Deputy Commissioner of Income Tax

Court : Karnataka

Subject : Direct Taxation

not form part of total income”. It may be noted that when section 10A was recast by the Finance Act, 2001, Parliament was aware of the character of relief given in Chapter III. Chapter III deals with - 66 … in one place various incomes which are exempt from tax. In respect of incomes on which deductions under Chapter VI-A are allowed, such incomes are wholly or partly tax free incomes. Section 10-A provides deduction out of the

Vahid Paper Converters and ors. Vs. Ito and ors.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)98ITD165(Ahd.)

Laws (Amendment and Misc. Provisions) Act, 1986 with effect from 1-4-1988 whereby Section 34 was omitted. Further the Finance Act, 2001 inserted Explanation 5 to Section 32 with effect from 1-4-2002.6. At the time of hearing before us, Shri … claimed in the return for normal computation of Income has to be allowed while computing the deductions under Chapter VI-A viz., 80HH, 80IA, 80IB, etc. of an Industrial Undertaking.2. The facts in all the above referred cases

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

Special Importance) Act, 1957( 58 of 1957);(v)(v) the National Calamity Contingent duty leviable under section 136 of the Finance Act, 2001 (14 of 2001)(vi)(vi) the Education Cess on excisable goods leviable under section 91 read with section 93 of … nor the use of said goods in providing output service. Subsequently, information about use of the goods and Chapter heading under the Central Excise tariff was called for from the appellant. The same was, thereafter, furnished by

New India Industries Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2007)112TTJ(Delhi)917

asst. yr. 1998-99 when the Explanation to Section 36(1)(vii) was not there as it was brought by the Finance Act, 2001 w.e.f. 1st April, 1989.The decision of Tribunal in Overseas Sanmar Financial Ltd. (supra) is also distinguishable on following … the appellant is one of the NBFC to which the Prudential Norms issued by the RBI applies. In Chapter III-B of RBI Act, 1934 (in short 'RBI Act'), the provisions relating to non-banking institutions receiving deposits and … for the time being in force or any instrument having effect by virtue of any such law. Shri Bajpai on the basis of above provisions

Commnr. of Income Tax, Jalandhar-i Vs. Shri Rajiv Bhatara

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 4(1), 113, 154, 158B, 158BA(2), 158BB, 158BC and 260(A); Finance Act, 2000; Finance Act, 2002 - Sections 113; Finance Act, 2001 - Sections 2(1) and 2(3); Constitution of India - Article 271

Reported in : (2009)222CTR(SC)209; [2009]310ITR105(SC); JT2009(4)SC39; 2009(3)SCALE16; (2009)13SCC315; [2009]178TAXMAN285(SC)

the given point of time. As a general concept, income tax includes surcharge. Reading Section 2(1) of the Finance Act, 2001, it is clear that the term `income tax' as used in Section 2(1) and proviso to Section 2(3) … under the Act as in the case of Section 113 or vide the Finance Act.7. The purpose of Chapter XIV is to lay down a special procedure for assessment of surcharge cases with a view to combat … 154 of the Act filed by the assessee for rectification was dismissed vide order dated 17.9.2003 with the observation that the surcharge was levied as

Cit Vs. Rajiv Bhatara

Court : Supreme Court of India

Subject : Direct Taxation

at the given point of time. As a general concept, income-tax includes surcharge. Reading Section 2(1) of the Finance Act, 2001, it is clear that the term income-tax' as used in Section 2(1) and proviso to Section 2(3) of … under the Act as in the case of Section 113 or vide the Finance Act.7. The purpose of Chapter XIV is to lay down a special procedure for assessment of surcharge (sic-search) cases with a view to … 154 of the Act filed by the assessee for rectification was dismissed vide order dated 17-9-2003 with the observation that the surcharge was levied as

Plastiblends India Limited a Company Incorporated Under the Companies ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 5, 14, 28, 29, 30 to 43D, 66 to 80, 80A to 80B, 80B(5), 80C to 80U, 143(1) and 260A; Companies Act, 1956; Finance Act, 2001 - Sections 32(1); ;Finance Act, 2003 - Sections 36(1); Customs Act, 1962 - Sections 75

Reported in : 2009(111)BomLR4592; (2009)227CTR(Bom)1; [2009]318ITR352(Bom); 2010(1)MhLj526; [2009]185TAXMAN187(Bom)

assessee when not claimed by the assessee.27. Mr. Dastur referred to Explanation 5 to Section 32(1) inserted by Finance Act 2001 with effect from 1-4-2002, which reads thus:Explanation 5. - For the removal of doubts, it is hereby declared … law:Whether, in the facts and circumstances of the case, for the purposes of availing allowable special deduction under Chapter VI-A of the Income-tax Act, the gross total income is required to be computed by deducting allowable depreciation even