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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 … Act was liable to be determined on the gross total income computed after deducting all deductions allowable under Section 30 to 43D of the Act including current depreciation allowable under Section 32 of the Act. As the assessee

Varkisons Engineers Vs. State of Kerala and anr.

Court : Supreme Court of India

Subject : Sales Tax/VAT

Acts : Kerala General Sales Tax Act, 1963 - Sections 5, 5(1), 7, 7(1), 7(7) and 43; Central Sales Tax Act, 1956; Finance Act, 2001; Kerala Finance Act, 2001; Income Tax Act; Finance Act, 1946 - Sections 10(2); Surcharge Act; Kerala General Sales Tax Rules - Rule 30; Sales Tax Laws

Reported in : 2009(6)LC2577(SC); (2009)25VST1(SC)

dated 9th April, 2001 and seeking enhanced rate per machine with effect from 23rd July, 2001 by the Finance Act, 2001 (Act 7 of 2001). It may be noted that by Finance Act, 2001, the rate per machine stood … for permission for payment of tax under Section 7 read with Rule 30 of the Kerala General Sales Tax Rules. That application was made on … KGST Act) as well as the Central Sales Tax Act, 1956.3. In lieu of payment of tax under Section 5(1) of the KGST Act for the Assessment Year 2001-2002, appellant opted to pay turnover tax under Section

Deputy Commissioner of Income Tax Vs. Indian Syntans Investments (P)

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2007)103ITD457(Chennai)

and the particular provision regarding "or a trade mark or brand name associated with a business" by the Finance Act, 2001, w.e.f. 1st April, 2002, "or a right to manufacture, produce or process any article or thing" was brought … the order of the CIT(A)-III, Chennai, dt. 4th Oct., 2002. The assessment was framed by the AO under Section 143(3) r/w Section 147 of the IT Act, 1961 for the asst. yr. 1997-98.2. At the outset, the … away with his tax evasion, to the extent of a whopping Rs. 300 lakhs, for two assessment years. It will also be pointed out in

Ram Nath Jindal Vs. Cit

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2001)170CTR(P& H)251

Matched in: Citation (2001)170CTR(P& H)251

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

is made clear by Section 74A(3). 7.4. He would contend that the change that was brought about by Finance Act, 2001 was to introduce 32 tax deduction at source on winnings from ‘card game and other game of any … Court to the Finance Act, 1978 whereunder Section 194BB was introduced to entail deduction of tax at source 30 specifically on “winnings from horse races” and draws the attention of this Court to Explanatory Notes of Finance

Tonira Pharma Ltd. Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Service Tax

of introduction of Sub-section (2A) in Section 9A of the Customs Tariff Act. JA.1 Section 118 of the Finance Act, 2001 introduced Sub-section (2A) to Section 9A in Customs Tariff Act, 1975 which is reproduced below: (2A) Notwithstanding anything … Revenue is bound by CBEC Circular No. 576/13/2001-CX dated 16-5-2001 in the context of Note 5 to Chapter 30 holding that the Revenue is bound by this Circular and the Revenue is barred from arguing contrary to

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

is made clear by Section 74A(3). 7.4 He would contend that the change that was brought about by Finance Act, 2001 was to introduce tax deduction at source on winnings from 'card game and other game of any sort'. … the Act since according to the revenue, petitioner is required to deduct tax at source under section 194B. 30. The Apex Court in Akhil Bharatiya Soshit Karamchari Sangh (Railway) v. UOI [1981] 1 SCC 246 while examining

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)

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 … Range III v. SIMCOM Ltd. was pleased to dismiss the appeal preferred by the Revenue by order dated 30.11.2007. It is this order which is the subject matter of the present appeal.3. At the hearing of this

Kiran Corporation Vs. the Asstt. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)102TTJ(Ahd.)375

the Income-tax Act and contended that Explanation to Section 36(1)(vii) applied in this case was introduced, by the Finance Act, 2001 with retrospective effect from 1.4.1989. The aforesaid Explanation, was not applicable when the return for the relevant assessment … Appellate Tribunal 'C' Bench, Ahmedabad in the case of Mamta Machinery P. Ltd. v. DCIT SR-II, A'bad dated 30.8.2002 in IT A No. 326/A/95 in appeal pertaining to assessment year 1991-92. According to the Judicial Member, on

G.B. Engineers Vs. State of Jharkhand and ors.

Court : Jharkhand

Subject : Direct Taxation

Acts : Bihar Finance Act, 1981 - Sections 43; Constitution of India - Article 226

Reported in : 2003(2)BLJR1643; [2003(3)JCR450(Jhr)]

for the petitioner, the amounts refunded did not include the interest payable under Section 43 of the Bihar Finance Act, Counsel points out that in the earlier judgment also this Court had directed that interest as permissible by … Department, in terms of the order passed by this Court on 15.10.2001 in WP (T) No. 4039 of 2001 and also for a writ of mandamus, directing the respondents to grant statutory interest on the money so … counter affidavit that the refund vouchers were issued to the petitioner on 30.4.2002 but thereafter there was delay in the treasury in honouring the refund