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Sony India (P.) Ltd. Vs. Central Board of Direct Taxes and anr.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 16A, 55A, 92 to 92F, 119, 131(1), 133(6), 154(5) and 245E; Finance Act, 2001; Wealth Tax Act, 1957 - Sections 7; Income Tax Act, 1922 - Sections 23A; Constitution of India - Articles 14, 226 and 227

Reported in : (2006)206CTR(Del)157; [2007]288ITR52(Delhi)

high end products such as DVDs, Handy Cams, Play Stations and Projectors etc. for sale in India.3. The Finance Act, 2001 substituted the earlier Section 92 of the Income Tax Act 1961 ('Act') with Sections 92 to 92F with … under Article 226/227 of the Constitution of India quashing Instruction No. 3 of 2003 dated 20.5.2003, issued under Section 119 of the Income-tax Act, 1961 to the extent it requires compulsory reference to Transfer Pricing Officer to determine

Jindal thermal Power Company Limited (Formerly Jindal Tracteble Power ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 10, 10A, 10B, 11, 12, 80HHC, 80HHC(3), 80HHF(3), 112, 113, 115A, 115AA, 115AB, 115ACA, 115AD, 115B, 115BB, 115BBA, 115E, 115JB, 119(2), 140A, 154, 161(1A), 164, 164A, 167B, 172(4), 174(2), 175, 176(2), 192, 207, 208 to 219, 234A, 234B and 234C; Finance Act, 2002 - Sections 115J, 115J(1), 115JA, 115JB(1) and 115JB; Finance Act, 1987; Finance (No. 2) Act, 1996; Finance Act, 2000 - Sections115B and 115JB; Finance (Amendment) Act, 2000; Finance (Amendment) Act, 2002; Companies Act, 1956 - Sections 210; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3, 17(1), 32(2), 32A(3), 72(1), 73, 74, 74A(3), 139(1), 142(1) and 288(2); Finance Act, 2001 - Sections 2(8); Constitution of India - Articles 265 and 300A

Reported in : (2006)203CTR(Kar)381; [2006]286ITR182(KAR); [2006]286ITR182(Karn)

financial year, as are contained in the Finance Act and the first proviso to Section 2(8) of the Finance Act, 2001 provides that the tax payable by way of advance tax in respect of income chargeable under Section 115JB … made clear that having regard to the fact that power has been conferred upon the Board under Section 119(2)(a) of the Act, the Board has issued circulars by notification No. F.No. 400/234/95-IT(B) dated May 23, 1996 and

The Commissioner of Income Tax, Delhi-ii, New Delhi Vs. Motor General ...

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 10(2), 36(1), 115J, 119, 139(1), (4), 140A, 140A(1), 142(1), 143, 143(1), (3), 144, 147, 148, 154, 155, 156, 208, 210, 234A, 234B, 234C, 245D(1), (3), (4), 250, 254, 256(2), 260, 260A, 262, 263 and 264; DTL (Amendment) Act, 1987; DLT (Amendment) Act, 1989; Finance Act, 2000 - Sections 2; Taxation Laws (Amendment) Act, 2000; Taxation Laws (Amendment) Act, 2001; Evidence Act - Sections 114

Reported in : [2002]254ITR449(Delhi)

of surcharge under Section 2 of the Finance Act,2000 (10 of 2000), as amended by the TaxationLaws (Amendment) Act, 2001 and the assessed haspaid the amount of shortfall on or before the 15th dayof March, 2001, in respect … and 234C of the Act except to the extent ofgranting relief under Circular issued by the Board under Section 119 of the Act.The assessed is a financing company. Whether it borrows a huge sumof money, cash balance in

Shree Fats and Proteins Ltd. Vs. Union of India (Uoi) and ors.

Court : Rajasthan

Subject : Sales Tax

Acts : Finance Act, 2000 - Sections 119 and 120; Central Sales Tax Act, 1956 - Sections 9, 9(2), 9(2A) and 9(2B); Rajasthan Sales Tax Act, 1994 - Sections 29, 37, 53, 58, 70 and 70(2); Rajasthan Sales Tax Act, 1954 - Sections 12; Kerala General Sales Tax Act, 1963 - Sections 23(3); Constitution of India - Articles 14, 19 and 19(1)

Reported in : [2006]146STC310(Raj)

pay arises.16. Mr. Alok Sharma has further contended that the demands for interest in terms of provision of Section 119 and Section 120 of the Finance Act cannot be made by way of rectification beyond the limitation provided … numbering 29, the petitioners have challenged the provisions of Sub-clause (2)(d) of the validation Clause 120 of the Finance Act, 2000 (Act No. 10 of 2000) be declared to be violative of Articles 14 and 19(l)(g) of the … pleadings of the parties from D.B. Civil Writ Petition No. 4674 of 2001 and D.B. Civil Writ Petition No. 1165 of 2001 only as leading

Areva T and D India Ltd. Vs. Assistant Commissioner of Income Tax and ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 50B, 54EC, 54EC(1) and 119(2); Companies Act, 1956 - Sections 391 and 394; Finance Act, 2006; Finance Act, 2007; Finance Act, 2001; National Bank for Agriculture and Rural Development Act, 1981 - Sections 3; National Highways Authority of India Act, 1988 - Sections 3; National Housing Bank Act, 1987 - Sections 3(1); Small Industries Development Bank of India Act, 1989 - Sections 3(1); Constitution of India - Articles 14 and 265; Securities and Exchange Board of India Regulations

Reported in : (2008)220CTR(Mad)156; [2009]177TAXMAN192(Mad)

and perused the materials available on record.8. Section 54EC of the IT Act, 1961 is introduced by the Finance Act, 2001 w.e.f. 1st April, 2001. As per the provision, if the amount of long-term capital gain arises from the … hardship caused to taxpayers, the CBDT, in exercise of powers conferred by Clause (a) of Sub-section (2) of Section 119 of the IT Act, 1961, hereby orders that the limitation of six months for making the investment under

Set Satellite (Singapore) Pte Ltd., a Company Incorporated and Registe ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 9, 92, 92C, 119, 195, 145, 234A, 234B and 234C; Finance Act, 2001; Finance Act, 2002

Reported in : (2008)110BOMLR2726; 2008BusLR850(Bom); (2008)218CTR(Bom)452; [2008]307ITR205(Bom)

price are contained in Section 92 of the Income Tax Act. The principles have been clarified by the Finance Act, 2001 as also Finance Act, 2002. From the order of the C.I.T. which has been accepted it is clear … administration of law by all the income-tax authorities in a specific situation and is, therefore, validly issued under Section 119 of the Income-tax Act. As such, the circular would be binding on the Department.See also Commissioner of Income

Wimco Seedlings Ltd. Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2007)293ITR216(Delhi)

of the activity is exempt from taxation however, a new section i.e. Section 14A has been inserted by finance Act, 2001 retrospectively which provides as under: Section 14A : For the purpose of computing the total income under this … CIT(A); the assessee refused to furnish the necessary details by way of letter dated 12.3.97 placed at page 119 of the paper book on the ground that no proceedings were pending before the AO for the relevant

Abn Amro Bank Nv Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2005)96TTJ(Kol.)1041

contrary view overruling the Tribunal decision considering the Explanation to Section 90(2) of the Act, inserted by the Finance Act, 2001." 39. The relevant facts relating to this issue are that the AO had levied tax in this case … contended that even the letters issued by the Board are considered as circulars having a binding force under Section 119 of the IT Act, 1961. It was further contended that the withdrawal of the circular issued by the

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, … administrative body to administer the direct taxes Act. The C.B.D.T.was also empowered to issue instructions and circulars under Section 119 of the Income Tax Act. Therefore, the statutory powers are vested only with the C.B.D.T. The Chief Commissioners

Avm Studio Represented by Its Partner, M. Saravanan Vs. the Union of I ...

Court : Chennai

Subject : Service Tax

Acts : Finance Act, 1994 - Sections 65(119), 67, 68 and 73(1); Constitution of India - Article 226

Reported in : (2008)217CTR(Mad)267; [2008]13STJ305(Madras); 2008[10]STR353; (2008)13VST201(Mad)

in any video production and they are not video production agency in terms of Section 65(119) of the Finance Act 1994.4. In the show cause notice, it was stated that the appellant has not paid any service tax