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Dabur India Limited Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 5, 6, 9, 14, 28, 29, 30 to 43D, 59, 71, 72(1), 72(2), 73(3), 80A, 80A(1), 80AB, 80B, 80B(5), 80C to 80U, 80IB, 80HHC, 143(1), 143(2) and 260A; Taxation Laws (Amendment and Miscellaneous Provisions) Act; Finance Act, 2001; Finance Act, 1988

Reported in : 219(2008)DLT152

decide in Vahid Papers Converters (supra) was, whether Explanation 5 to Section 32 of the Act inserted by Finance Act, 2001 was clarificatory in nature and hence, would apply to earlier years as well. The ITAT considered it unnecessary … Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act) against the judgment dated 31.1.2007 passed by the Income Tax Appellate Tribunal (hereinafter referred to in short as the ITAT) in ITA No.

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. … | | |2000 |Section 2|10% |10% |10% |10% |10% | | |(3) | | | | | | |2001 |Section 2|12% or |12% |12% |12% |13% | | |(3) |17% | | | | | |2002 |Section 2|2% … applicable to search of the earlier period as well i.e. upto May 31, 2002, the Court pointed out that in view of its answer to

Commissioners for Her Majesty's Revenue and Customs (Appellant) Vs. To ...

Court : UK Supreme Court

Subject : MRTP

took effect, for income tax and capital gains tax purposes, in 1996-97. Further amendments were made by the Finance Act 2001 ("FA 2001") intended to simplify and clarify the process of self-assessment. A limited liability partnership established under the … to LLPs, are to be found in sections 12AA, 12AB, 12AC, 28B, 31 and 31A of TMA 1970 (the first two introduced by FA 1994, … legal personality separate from those of its members. But if it carries on a trade it is, under section 118ZA of the Income and Corporation Taxes Act 1988 ("ICTA 1988"), taxed as if it were an ordinary,

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 … the provisions of Income Tax Act, 1961. (2) Quash notices for the years 2006-07, 2007-08, 2008-09, 2009-10 upto 31.12.2009 (3rd quarter) as being barred by limitation (Annexures-B, B1, B2, B3). (3) Declare that the Circulars issued by

The Commissioner of Income Tax and Vs. Brindavan Beverages Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 2(19AA), 2(42C), 41[2], 45, 48, 50B, 80IA(4), 80IB(4), 80IB(5), 80HHC, 80HHC(3), 80HHC(3A), 80HHC(4), 80HHC(4A), 115A, 115B, 115BB, 115C, 115J, 115JA, 115JA[1], 115JA[2], 115JA[4], 115JB, 143(2), 161[1A], 164, 164A, 207, 208, 209, 209[1], 210, 211, 215, 234, 234A, 234B, 234C, 234G, 254(2) and 260A; Finance [No. 2] Act, 1996; Finance Act, 1997; Finance Act, 1998; Finance Act, 1999; Finance Act, 2000 - Sections 2; Companies Act, 1956 - Sections 210; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1) and 17(1); Constitution of India - Article 141

Reported in : (2010)228CTR(Kar)1; [2010]186TAXMAN233(Kar)

in reference to the provisions of Section 115JA of the Act is conspicuously absent in Part-III of the Finance Act providing for computing advance tax though mention is made of Sections 115A, 115B, 115BB, 115C of the Act … Shankar, learned Counsel appearing for the assessee has brought to our notice the Board Circular No. 13 of 2001 dated 09.11.2001 issued in the wake of introduction of Section 115JB of the Act with the caption liability … Tax Act, 1961 (for short 'the Act') directed against the order dated 31.03.2005 passed by the Income Tax Appellate Tribunal, Bangalore in ITA No. 863/3ang/2002

G.T.C. Industries Ltd. Vs. the Dy. Cit, Spl. Rg. 50

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Tax Act, 1961, and basing on the amendment made to Section 36(1), Clause -(7), which was amended by Finance Act, 2001? 2. The assessee is a limited company and for the A.Y. 1993-94 it had debited its profit and … 601167.69 520583.67 1121751.36Written off during 1992-93 (-) 22200.00 ---- 22200.00As per Balance Sheet as on 867212.81 7525442.63 8392655.44 31.03.1993 It is evident from aforesaid accounting procedure that the assessee itself distinguishes between a debt actually written off

Gtc Industries Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)104ITD86(Mum.)

provisions of bad and doubtful debts but it is pertinent to note that this Explanation (inserted by the Finance Act, 2001 though with retrospective effect from 1-4-1989. Thus, it is evident that this Explanation is not available for the … Finance Act on receiving the assent of the President of India on 31-5-1989. Clause (iiib) was given retrospective operation with effect from 1-4-1967. Clause (iiib) … sum of Rs. 10,99,552 being provision for bad and doubtful debts claimed by the assessee and allowed under Section 143(3) proceedings by the Assessing Officer, by invoking the powers under Section 154 of the Income-tax Act, 1961.3.

A.H. Baldota Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)103TTJ(Mum.)517

the same has to be disallowed. He also submitted that Section 14A was introduced in the statute by Finance Act, 2001, w.r.e.f. 1st April, 1962 making it possible for the AO to disallow claim of expenditure incurred in earning … under Section 12B of the Indian IT Act, 1922, on capital gains derived during 1st April, 1948, to 31st March, 1956. On a reference, the High Court held that if capital loss was incurred in a year

isg Traders Ltd Vs. Commissioner of Income-tax, West

Court : Kolkata

Subject : Direct Taxation

as follows [(2002) 258 ITR (St.) 13 at 30, 31]: "23. Amendment of Section 14A "23.1 Through the Finance Act, 2001, a new section namely 14A was inserted in the Income-tax Act retrospectively with effect from 1st April, 1962

Union of India and ors. Vs. M/S. Ind-swift Laboratories Ltd.

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 32E(1), 32F(7), 32M

the provisions of Sections 11A and 11AB of the Excise Act or Sections 73 and 75 of the Finance Act, shall apply mutatis mutandis for effecting such recoveries."2 16. A bare reading of the said Rule would indicate … parties the Commission came to the findings that while the wrongful CENVAT credit was taken from the year 2001 to 31.03.2006, the payments refunds have been made on 22.02.2006 and on five different dates in March, 2006 … Rs. 5,71,47,148/-. Since conditions/parameters for the admission of a case prescribed under Section 32E(1) of the Central Excise Act, 1944 [for short "the Act"] were