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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 … powers specified in clauses (a) to (d) of Sub-section (1) of Section 131 or Sub-section (6) of Section 133.Interpretation of the statutory provisions17. At the outset it must be noticed that the only condition that is spelt

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 … be considered by the Delhi High Court in the case of Bharat Development (P.) Ltd. v. CIT [1982] 133 ITR 470/[1980] 4 Taxman 58 wherein it was observed that the expression 'business' is a word of indefinite

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

by the Finance (No. 2) Act, 1991 with retrospective effect from 1.4.1972; insertion of Section 14-A by the Finance Act, 2001 with retrospective effect from 1.4.1962; Explanation to Section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1.4.1987 … of the Act, the other consequences would follow.That this was the first step was shown by T.P. Sidhwa, 133 ITR 840 (Bom.). The learned counsel argued that there was a legal purchase of units, a legal distribution

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96ITD1(Mum.)

by the Finance (No. 2) Act, 1991 with retrospective effect from 1-4-1972; insertion of section 14-A by the Finance Act, 2001 with retrospective effect from 1-4-1962; Explanation to section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1-4-1987 … the Act, the other consequences would follow. That this was the first step was shown by T.P. Sidhwa, 133 ITR 840 (Bom.). The learned counsel argued that there was a legal purchase of units, a legal distribution

V.L.S. Finance Ltd. Vs. Sunair Hotels Ltd.

Court : Company Law Board CLB

Subject : Land Acquisition

the shares at that price, the petitioner was allotted shares at par, so that it could mobilize necessary finance for the company. That is the reason why the petitioner gave proxies to the respondents in respect of … which resulted in delay in completion of the project. Therefore, referring to page 3096 of Ramaiah on Companies Act (2001 Edn.), he submitted that the right to protection is a product of equity and therefore there must not … 21 crores is also evident from its interoffice memo dated 28-11-1996 (page 133 of the Reply) wherein the petitioner has stated 'We have valued the … 1. The main allegation in this petition filed under section 397/398 of the Companies Act, 1956 ('the Act') by the petitioner holding

Sky High Properties Pvt. Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)258ITR98(Delhi)

in view the ratios laid down by the Delhi High Court in the case of CIT v. Sophia Finance Ltd. [1994] 205 ITR 98 [FB]. In this case, the High Court has held that if the sources … to the addition of Rs. 10 lakhs made by the Assessing Officer under Section 68 of the Income-tax Act, 1961, representing share capital of Rs. 2,00,000 each received from five shareholders.2. Briefly, the facts of the case … verify the genuineness of the transaction/the Assessing Officer issued notices under Section 133(6) to the shareholders. Though these notices were duly served, there was no

Binani Zinc Ltd. and ors. Vs. Commissioner of Central Excise,

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

Subject : Excise

reference to retrospective validation of action taken under Section 11A of the Central Excise Act 1944 under the Finance Act 2001, is relevant in this context to decide the issue. She drew our attention to the relevant portion of

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … decision of the Court of Justice in Metallgesellschaft (Joined Cases C-397/98 and C-410/98) [2001] Ch 620on 8 March 2001 there was no general appreciation that the UK corporation tax regime was seriously open to challenge as infringing … similar to those relating to the chocolate covered marshmallow teacakes in MandS. 133. Does the existence of the Woolwich remedy make all the difference? I

Arthinkal Village Service Co-Operative Bank Limited vs the Income Tax ...

Court : Kerala

Act, 1961 [43 of 1961], and in supersession of the notifications of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, Number(s) S.0. 883(E), dated 14 September, 2001, S.O. 494(1), dated … by various Co-operative Banks impugning the action of the Income Tax Officer (Intelligence), asking for furnishing information under Section 133(6) of the Income Tax Act, 1961, hereinafter 'the Act', for short, for the financial years 2010-11, 2011-12 and

Karikode Service Co-Operative Ltd No.4009 Bank vs the Income Tax Offic ...

Court : Kerala

Act, 1961 [43 of 1961], and in supersession of the notifications of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, Number(s) S.0. 883(E), dated 14 September, 2001, S.O. 494(1), dated … by various Co-operative Banks impugning the action of the Income Tax Officer (Intelligence), asking for furnishing information under Section 133(6) of the Income Tax Act, 1961, hereinafter 'the Act', for short, for the financial years 2010-11, 2011-12 and