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Shri Pradeep Kar, Managing Director, Micro Land Limited Vs. the Asst. ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act - Sections 10(33), 14A and 57; Finance Act, 2001

Reported in : [2009]319ITR416(KAR); [2009]319ITR416(Karn)

do not form a part of total income of the assessee. The provisions of Section 14A introduced by Finance Act 2001 w.e.f. 1.4.62 retrospectively bars allowing any expenditure in respect of income which is not includible in the total … asst. year where dividend income was taxable in the hands of the assessee. With the introduction of Section 10(33) of the Income Tax Act from the A.Y. 98-99 the position of law in regard to taxability of

Godrej and Boyce Mfg.Co.Ltd. Mumbai. Vs. Commissioner of Income Tax,

Court : Mumbai

Subject : Income Tax

Acts : Income Tax Act, 1961 - Section 14A(1)(2)(3); Income Tax Act, 1922 - Section 8; Finance Act of 2001 - Section 14A; Finance Act 1997 - Section 10(33)

of dividends referred to in Section 115O are not includible in the total income. Section 14A inserted by Finance Act 2001 directs disallowance of the expenditure incurred in relation to dividends referred to in Section 115O in certain cases.20. … the claim of the assessee. Rule 8D was notified in the Official Gazette of 24 March 2008. By Section 10(33) as it stood during Assessment Year 200203 income by way of dividend referred to in Section 115O was

Commissioner of Income Tax Vs. Walfort Share and Stock Brokers (P) Ltd ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(33), 14A, 94, 94(7) and 260A; Finance Act, 2001

Reported in : (2008)219CTR(Bom)409; [2009]310ITR421(Bom)

by the Counsel for the Revenue on the CBDT instructions dated 23rd Feb., 2004 which reads as under:The Finance Act, 2001 introduced inter alia Sub-section (7) of Section 94 of the IT Act, w.e.f. 1st April, 2002 to curb … the assessee claimed that the dividend income of Rs. 1,82,12,862 received from Chola mutual fund was exempt under Section 10(33) (as it then stood) of the IT Act, 1961 ('Act' for short). The assessee claimed that the loss

State of Kerala and ors. Vs. Maharashtra Distilleries Ltd. and ors.

Court : Supreme Court of India

Subject : Excise

Acts : Kerala Abkari Act - Sections 6, 7, 11, 12, 14, 17, 18, 18A, 21 and 29; Kerala Abkari Rules; Kerala Sales Tax Act; Kerala General Sales Tax Act, 1963 - Sections 2, 5, 5(1), 5(2C) and 35; Kerala Finance Act, 2001 - Sections 3A; Kerala Distillery and Warehouse Rules, 1968 - Rules 16(1), 47, 50 and 52; Foreign Liquor Storage in Bond Rules, 1961 - Rules 3, 3(1), 11 and 11(1); Foreign Liquor Rules, 1953 - Rules 3, 13(9) and 14; Cochin Abkari Act - Sections 10, 14, 24, 29 and 29(2); Kerala Abkari Shops (Disposal in Auction) Rules, 1974 - Rule 3(1A); Central Sales Tax Act, 1956; Finance Act, 2001; Constitution of India - Articles 301, 304, 304(1) and 311; Sea Customs Act, 1878 - Sections 20; Central Excise Act, 1944 - Sections 3

Reported in : AIR2005SC2594; JT2005(5)SC427; (2005)11SCC1; [2005]141STC358(SC)

validity of Section 5(2C) of the Kerala General Sales Tax Act read with Section 3A of the Kerala Finance Act 2001 as being unconstitutional, both in its retrospective and prospective operation. They also challenged the consequent actions initiated against … B.P. Singh, J.1. Leave granted in Special Leave Petition (C) No. 1032 of 2003.2. In these two batches of appeals, a common question arises, inter alia for consideration by this

Commissioner of Income Tax Vs. Heartland Delhi Transcription Services ...

Court : Delhi

Subject : Direct Taxation

same persons who were the owners of the business before such reorganization. 19.8 Exceptions were made by the Finance Act, 2001 in the case of Private Ltd. companies becoming companies in which public are substantially interested as also disinvestment … SANJIV KHANNA, J.: This appeal by the Revenue pertains to assessment year 2004-05 and relates to interpretation of Section 10B of the Income Tax Act, 1961 (Act, for short).2. By order dated 11th May, 2011, the following … Revenue pertains to assessment year 2004-05 and relates to interpretation of Section 10B of the Income Tax Act, 1961 (Act, for short).2. By order dated

The Dcit Vs. Tata Investment Corporation Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

separately and the heads of income are as under: Section 14A of the I.T.Act was inserted by the Finance Act, 2001 with retrospective effect from 01.04.1962, which provided as under: Section 14A - For the purpose of computing the … to employees for salaries and personnel cost towards the expenditure related to earning of dividends, claimed exempt Under Section 10(33) of the Act, within the meaning of Section 14A of the Act.3. Shri T. Diwakar Prasad, Departmental Representative

State Bank of India Vs. Central Board of Direct Taxes

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(10C), 15, 16, 17, 17(3), 17(3)(1), 57, 89, 89(1) and 201(1A); Finance Act, 2001; Income Tax Rules - Rule 21A

Reported in : (2006)201CTR(Ker)492; [2006]282ITR587(Ker); 2006(1)KLT258

person; or(B) after cessation of his employment with that person.Sub-clause (iii) of Section 17(3)(i) was inserted by the Finance Act, 2001 with effect from 1.4.2002.9. The Revenue has already raised a contention that since the term 'voluntary retirement' has … of the Income-tax Act and the relief under Section 89(1) is admissible after the grant of exemption under Section 10(10C)(viii) of the Income-tax Act is the question that arises for consideration in these cases.2. Petitioners were officers and

The Commissioner of Income-tax Vs. Taj Borewells

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 68, 69, 143(1), 143(2), 143(3) and 260A; Income Tax Act, 1922 - Sections 10(2); Finance Act, 2001 - Sections 2(12A); Evidence Act, 1872 - Sections 34

Reported in : [2007]291ITR232(Mad)

assessment year. Later, Section 2(12A) was introduced in the Act defining 'books or books of account' by the Finance Act, 2001 with effect from 01.06.2001 and the same reads as follows:(12A) 'books or books of account' includes ledgers, day-books, … all had been maintained. The Supreme Court, in CIT v. National Syndicate : [1961]41ITR225(SC) , dealing with Section 10(2)(vii) of the Indian Income-tax Act, 1922, laid down that in order to claim deduction of the loss sustained

The Commissioner of Income Tax-9 Vs. Ajanta Pharma Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10, 10A, 10B, 15JB, 80HHC, 80 HHC(1), 80 HHC(1A), 80 HHC(1B), 80HHC(3), 80HHC(3A), 80HHC(4), 80HHC(4A), 80HHC(10), 80HHD, 80HHD(3), 80HHG, 80HHE, 80HHF, 115(JB), 115J, 115J(2), 115JA, 115JA(1), 115JA(2), 115JB, 115JB(2), 115JD and 2888(2); Finance Act, 1996; Finance Act, 1997; Finance Act, 2000; Finance Act, 1987; Direct Tax Laws Amendment Act, 1989; Companies Act, 1956

Reported in : 2009(111)BomLR1905; (2009)223CTR(Bom)441; [2009]318ITR252(Bom); [2009]180TAXMAN494(Bom)

be, of that section, and subject to the condition specified in sub sections (4) and (4A) of that section. 10. Section 115JB was inserted by Finance Act, 2000 w.e.f. 1.4.2001. It contained (iv) to the Explanation. We have … 80 HHC as contended on behalf of the assessee. Section 80 HHC Sub-section 1B was introduced by the Finance Act with effect from 1.4.2001 so as to phase out the deduction completely by assessment year 2005- 06. Section

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

law as discussed hereinabove.45. Accordingly, this civil appeal is allowed with no order as to costs.1 Inserted by Finance Act 2001, w.e.f. 1.4.20022 Inserted by Finance Act, 2001, w.e.f. 1.4.20013 Inserted by the Finance Act, 2002, w.e.f. 1.4.20034 Inserted … in this civil appeal is as to what is the 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