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Plastiblends India Ltd., a Company Incorporated Under the Companies Ac ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 29 to 43A, 72, 80A, 80AA, 80AB, 80B(5), 80E, 80HH, 80HH(6), 80HH(7), 80I, 80IA, 80IA(5), 80IA(8), 80IA(10), 80IB, 80IB(13), 143(1), 143(3), 147 and 260A; Companies Act, 1956; Taxation Laws (Amendment and Miscellaneous Provisions) Act, 1986 - Sections 34(1); Finance (No. 2) Act, 1980; Finance Act, 2001 - Sections 5

Reported in : (2009)223CTR(Bom)291; [2009]178TAXMAN397(Bom)

the Act which continued till the assessment year 2002-2003, when explanation to Section 5 was inserted by the Finance Act 2001 with effect from 1.4.2002 and, therefore, the Tribunal erred in holding that omission of Section 34(1) by Taxation

Sheraton Apparels, Vs. Assistant Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 271(1); Taxation Laws (Amendment) Act, 1984; Evidence Act, 1872 - Sections 34; Finance Act, 2001 - Sections 2(12A)

Reported in : 2002(5)BomCR19; (2003)1BOMLR888; (2002)175CTR(Bom)651; [2002]256ITR20(Bom); 2003(1)MhLj302

right from its inception. But, these terms are defined in the Act for the first time by the Finance Act, 2001, with effect from June 1, 2001. Section 2(12A) defines the said terms to mean :'(12A) 'books or books … concept of books of account has been employed. One of such oldest legislation is the law of evidence. Section 34 refers to the words 'entries in books of account'. Section 34 has been interpreted by various High Courts

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, … reckoned, a book containing a statement of monetary transaction would attract the definition of 'book of account' under Section 34 of the Act. CBI v. V.C. Shukla : 1998CriLJ1905 . [Indian Evidence Act (1 of 1872), Section 34]Company's

L. Hazari Mal Kuthiala Vs. the Income-tax Officer, Special Circle, Amb ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Patiala Income-tax Act, Samvat 2001 - Sections 5, 5(5) and 34; Indian Finance Act, 1950 - Sections 13; Indian Income-tax Act - Sections 5(5), 5(7A), 64 and 64(1); Code of Civil Procedure (CPC), 1908 - Sections 24; Constitution of India - Articles 14, 132, 133, 226 and 320(3)

Reported in : AIR1961SC200; [1961]41ITR12(SC); [1961]1SCR892

new State which included Kapurthala, and the Patiala Income-tax Act, 2001, came into force. Later still, the Indian Finance Act, 1950 (26 of 1950), applied the Indian Income-tax Act to the Part B States, which had emerged as … 3. On March 12, 1955, the Income-tax Officer, Special Circle, Ambala, issued a notice purporting to be under section 34 of the Patiala Income-tax Act of Samvat 2001 to the appellant firm calling upon it to file a

Ram Nath Jindal and anr. Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 16, 32, 32(1), 34, 37, 41(2) and 143(1); Finance Act, 2001

Reported in : [2001]252ITR590(P& H)

Matched in: Citation [2001]252ITR590(P& H)

Commissioner of Income Tax 5 Mumbai Vs. M/S. Essar Teleholdings Ltd. T ...

Court : Supreme Court of India

Subject : Land Acquisition

be understood before correctly appreciating the nature and purport of Rule 8D. Section 14A was first inserted by Finance Act, 2001 with retrospective effect w.e.f. 01.04.1962. Section 14A as originally inserted reads as under:­ “14A. Expenditure incurred in relation … No. 17499 of 2017, C.A.No.1446 of 2018 @ SLP(C) No. 25337 of 2017, C.A.No.1460 of 2018 @ SLP(C)No. 3447of 2018 (Diary No. 19735 of 2017), C.A.No.1462 of 2018 @ SLP(C)No.3450 of 2018 (Diary No. 24346 of 2017),

Firm L. Hazari Mal Kuthiala Vs. Income-tax Officer, Special Circle, Am ...

Court : Punjab and Haryana

Subject : Direct TaxationConstitution

Acts : Finance Act, 1950 - Sections 13(1); Income Tax Act, 1922 - Sections 1, 23 and 34; Stamp Act, 1899; Code of Civil Procedure (CPC) , 1908; Constitution of India - Article 265; Patiala State Income-tax Act, 2001 - Sections 5(5) and 34; Pepsu Administration Ordinance; Kapurthala Income-tax Act - Sections 34

Reported in : AIR1957P& H5; [1956]30ITR500(P& H)

the income-tax Officer, Special Circle, Ambala Cantonment, issued a notice to him under Section 34, Patiala State Income-tax Act, 2001, to the effect that he had reason to believe that the petitioner's income assessable to income-tax for the … The first point for consideration in the present case is, whether the expression 'assessment' appearing in Section 13, Finance Act, 1950, in pursuance of which this notice was issued, is wide enough to cover a re-assessment under Section

Techspan India Private Limited and anr. Vs. Income Tax Officer

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10A, 10A(4), 143(1), 143(3), 147 148 and 154; Indian Income Tax Act - Sections 34 and 66(2); Constitution of India - Article 226; ;Finance Act 2001

Reported in : (2006)203CTR(Del)550; [2006]283ITR212(Delhi)

total turnover of the business carried on by the undertaking. The above mentioned sub-section (4) was substituted by Finance Act 2001 w.e.f. 1/4/2001. The sub-section (4) prior to the amendment was as follows:For the purposes of sub-section (1), the … such action.In the present case the company contends that the conditions precedent for the assumption of jurisdiction under section 34 were not satisfied and came to the court at the earliest opportunity. There is nothing in its conduct

Jt. Commissioner of Income Tax, Valsad, Gujarat Vs. United Phosphorous ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32(1), 34(1), 36(1) and 260A; Finance Act, 2001

Reported in : (2008)215CTR(SC)13; [2008]299ITR9(SC); JT2008(2)SC399; 2008(2)SCALE387; (2008)2SCC478; 2008AIRSCW1289

take into account the scope of Explanation 5 to Section 32(1) of the 1961 Act, made by the Finance Act, 2001.5. Accordingly question No. (1) is answered in favour of assessee and against the Department and question No. … and Anr. in which it has been held that the assessee has an option to claim depreciation. However, Section 34(1) of the Income-tax Act, 1961 (for short, '1961 Act') has been omitted w.e.f. 1.4.88. Therefore, we are remanding

Commissioner of Income-tax Vs. Kerala Electric Lamp Works Ltd. and Cro ...

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 2001; Income Tax Act, 1961 - Sections 32 and 32(1)

Reported in : (2003)183CTR(Ker)182; [2003]261ITR721(Ker)

necessary to refer to the Explanation added by the Finance Act, 2001. As per Section 21 of the Finance Act, 2001, Section 32 was amended as follows :'21. Amendment of Section 32. --In Section 32 of the Income-tax Act, with … claim. In para. 4 of the order of the Tribunal it was noticed that after the amendment of Section 34(1) by the Taxation laws (Amendment and Miscellaneous Provisions) Act, 1986, with effect from April 1, 1986, it was