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South Indian Bank Ltd. Vs. the Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act - Sections 28, 36(1), 139, 142(1), 143(1), 143(1A), 143(3) and 156; Finance Act, 2001

Reported in : [2009]316ITR306(Ker); 2008(3)KLT326; [2009]176TAXMAN277(Ker)

debatable issue and is ceased to be so only by virtue of Explanation introduced to Section 36(1)(vii) by Finance Act 2001 with effect from 1.4.1989. The contention of counsel for the appellant is that as on date of completion … Abad Enterprises v. Commissioner of Income-Tax : [2002]253ITR319(Ker) .3. Counsel for the assessee contended that appellant being a Scheduled Bank is bound to prepare it's accounts based on RBI guidelines. According to him, provision for bad debt … for bad and doubtful debts made in the accounts of the assessee. 4. As already stated, the answer to the issue raised will depend on

Verizon Communications Singapore Pte Ltd. Vs. Income Tax Officer of In ...

Court : Chennai

Subject : Direct Taxation

right to use any industrial, commercial or scientific equipment, etc. was inserted with effect from 01.04.2002 under the Finance Act 2001. The said expression came up for consideration before the Authority for Advance Ruling in the decision reported in … of"., ".in consequence of". or ".by reason of".. Explanation 5. (ii) (iii) iv) (v) income by way of interest payable by (a) (b) (c) (vi)income … legislate in respect of treaties lies with parliament under Entry 10 and 14 of List I of 7th Schedule.". As regards fiscal treaties, since the same would have to be translated into an Act of Parliament, a

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

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

be anomalous for the following reasons: a) Finance Act contains the proposals for the following financial year e.g. Finance Act, 2001 contains the proposals for the Finance year 2001-02. The rates of taxation are further provided in the First … 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 surcharge. … within the block period computed, in accordance with the provisions of Chapter IV, on the basis of evidence found as a result of search.... Where

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 … a surcharge on income-tax is traceable to Article 271 read with Entry 82 of List I of Seventh Schedule to the Constitution of India. That power is not traceable to Section 4 of the 1961 Act. Every … within the block period computed, in accordance with the provisions of Chapter IV. on the basis of evidence found as a result of search or

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 … 90, (heading 6805, grinding wheels and the like, and parts thereof falling under heading 6804) of the First Schedule to the Excise Tariff Act; (ii) Pollution control equipment; (iii) components, spares and accessories of the goods specified … infrastructure with other service providers, treating it as a sale under Explanation IV to sub-section (28) of Section 2 of the APVAT Act,2005, is without

Ghodawat Pan Masala Products (i) Ltd. and anr. Vs. State of Maharashtr ...

Court : Mumbai

Subject : Sales Tax

Acts : Constitution of India - Article 301; Maharashtra Tax on Luxuries Act, 1987 - Sections 2(2), 3A, 3B and 3B(2); Maharashtra Tax Laws (Lavy and amendment) Act 2001; Central Sales Tax Act, 1956;

Reported in : 2002(6)BomCR466; [2003]130STC310(Bom)

Matched in: Advocate G.S. Jetly, Senior Counsel and ;P.S. Jetly, Adv. i/b., ;A.S. Tungare, Adv. for the petitioners in W.P. Nos. 2748 and 5357 of 2001; ;S.G. Aney, Senior Counsel and ;V.B. Naik, Adv. i/b., Dipti Kale, A A.J. Rana and ;N.A. Deshpande, A.G.P.

Brihan Mumbai Union of Journalists and ors. Vs. Nav Bharat Press Ltd. ...

Court : Mumbai

Subject : Labour and Industrial

Acts : Industrial Disputes Act, 1947 - Sections 9A; Maharashtra Recognition of Trade Unions and Prvention of Unfair Labour Practices Act, 1971

Reported in : 2002(6)BomCR361; [2002(95)FLR1116]; (2002)IIILLJ879Bom

and continue to engage in unfair labour practices from November 28, 2001 under Items 3,5,6,9 and 10 of Schedule IV of the M.R.T.U. & P.U.L.P. Act, 1971. Respondent No. 1 is a Company engaged in printing and publishing … out that, the first respondent has been incurring heavy losses and unless the losses are averted and the finances are put in better position, closure is inevitable. The position regarding improvement of finances are periodically discussed and

Commr.of Income Tax-i,new Delhi Vs. Vatika Township P.Ltd.

Court : Supreme Court of India

Subject : Land Acquisition

Gupta formulated two points for consideration, viz.; “1. Whether on the facts and circumstances of this case, the Finance Act, 2001 was applicable to “block assessment” under Chapter XIVB in respect of search carried out on January 17, 2001?.2. … took note of Article 271 of the Constitution along with Entry 82 of List 1 of the Seventh Schedule to the Constitution of India and Section 4 of the Act which is the charging section. It held … within the block period computed, in accordance with the provisions of Chapter IV, on the basis of evidence found as a result of search or

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)

justification for the levy of surcharge. The learned counsel further submitted that eventhough there was a reference in Finance Act, 2001 for levy of surcharge over and above the Income tax prescribed under Section 113 of the I.T. Act, … enactment by a legislature for the purpose of levying tax. Since income tax falls at Entry-82, List-1 of Schedule-VII to the Constitution of India, the Parliament alone can enact law for the purpose of levying tax on … determined under Chapter XIV-B. The learned counsel invited our attention to Section 4 of the I.T. Act and submitted that the rate of tax prescribed

M/S.Rural Electrification Corporation Ltd. Vs. Commissioner of Income ...

Court : Authority for Advance Rulings

Subject : Land Acquisition

Matched in: Advocate Present for the Applicant Mr.Pradeep Dinodia, FCA Mr. D.S.Ahluwalia, GM, REC Mr. Rakesh Sareen, DGM (Finance)REC Mr. Murlidharan, CM(FandA), REC Present for the Department Mr.Pravin Rawal, Dy.Commissioner of Income-Tax (L.T.U.).