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Karvy Consultants Ltd. Vs. Asstt. Commr. of Cus. and C. Ex.

Court : Andhra Pradesh

Subject : Service Tax

Acts : Reserve Bank of India Act, 1934 - Sections 45, 45(1) and 45I; Finance Act, 1994 - Sections 65, 73(1), 75, 76, 77 and 78; Companies Act; Finance Act, 2001 - Sections 65(11), 65(73) and 65(90); Finance Act, 2002; Finance Act, 2004

Reported in : 2006[]STR7

ORDER1. In this writ petition the petitioner seeks a declaration that Section 65(90) read with 65(11) of the Finance Act, 2001 has no application to the petitioner company upto 16-8-2002 and to consequently interdict the Assistant Commissioner of Customs … deposits and advanced loans and was therefore required to lake a licence as a non-banking financial Company under Section 45 of the Reserve Bank of India Act. During the year 1997, the petitioner is said to have resolved

Rikhabchand M. Lalwani (Huf) Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2003)81TTJ(Pune.)964

aside the order passed by the assessing officer. The Commissioner also considered the clause (c), inserted by the Finance Act 2003 to section 45(5) with effect from 1-4-2003. The enhanced compensation received by the assessee was not taxable … 1989-90 to 1999-2000.3. ITA No. 312/PN/2002 is an appeal by the Revenue against the order dt. 20th Dec., 2001 of CIT(A)-II, Nashik for the asst. yr, 1998-99.Since both these appeals involve a common issue, we find it

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

Commissioner of Income Tax Vs. Manjara Shetkari Sahakari Sakhar Karkha ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(19), 37(1), 40A(2), 80P and 260A; Maharashtra Co-operative Societies Act, 1960 - Sections 2(4), 65, 78 and 79A; Essential Commodities Act, 1955 - Sections 3(3); Co-operative Societies Act, 1912; Finance Act, 2001 - Sections 2(18), 2(24), 27(111). 36(1), 40, 45(3), 80L(1), 80P, 139(1), 193, 194A(3), 269T and 269

Reported in : (2008)214CTR(Bom)662; [2008]301ITR191(Bom)

27(111). 36(1)(ia), 40(ba), 45(3), 80L(1)(ii), (vi), (via), (viii), (ix), 80P, Expln. 1 (b)(1) to Section 139 (1)(prior to Finance Act, 2001), 193 (iib), 194A(3)(i), (v), 269T and 269 (VA). In these circumstances, it was held that under the IT

Commissioner of Income Tax Vs. Manoharsinhji P. Jadeja

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 2(47), 2(22A), 2(42A), 45, 48, 49, 49(1), 50, 55, 55(2), 55(3) and 256(2); Andhra Pradesh (Telangana Area) Tenancy and Agricultural Lands Act - Sections 40(4); Finance Act, 1987; Finance Act, 1997; Finance Act, 2001

Reported in : (2005)199CTR(Guj)223; (2005)3GLR2218; [2006]281ITR19(Guj)

Finance Act 1997 with effect from 1st April 1998; trademark or brand name associated with business by the Finance Act 2001 with effect from 1st April 2002; and right to carry on any business by the Finance Act 2002 … stand of the Department that even if the price of the land was adopted as Nil, provisions of Section 45 read with Section 48 of the Act would be applicable and the assessee was liable to be charged

Deputy Commissioner of Income-tax Vs. R.L. Kalathia and Co.

Court : Gujarat

Subject : Land Acquisition

(supra). 15.3 Reliance was also placed upon the decision of the Supreme Court in the case of PNB Finance Ltd. v. CIT-I [2008] 307 ITR 75/175 Taxman 242, wherein the court held thus: "18. In Artex Mfg. … Dy. CIT. v. Well Pack Packaging in Tax Appeal No. 368 of 2001, wherein the court agreed with the view adopted by the Bombay High … the company was a transfer in accordance with section 2(17)(vi) which was liable to capital gains tax under section 45(4) of the Act. He, therefore, observed that the provisions for charging capital gains were applicable to the said

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 … return. Meetings and correspondence ensued between HMRC and KPMG, acting for the LLPs. HMRC concentrated its enquiries on section 45(4) of CAA 2001 (as inserted by the Finance Act 2003), which withholds FYAs for expenditure on software rights

The Commissioner of Income Tax Vs. M/S Prakash Electric Company

Court : Karnataka

Subject : Direct Taxation

words “where a firm is succeeded” and ending with the words “intangible asset to the company” by the Finance Act, 2001, w.e.f.1-4-2002. Prior to its substitution, the quoted portion read as under: “Where a firm is succeeded by a … M/s Prakash Electric Company 10/30 from the transfer of such capital asset or intangible asset not charged under section 45 by virtue of conditions laid down in the proviso to clause (xiii) or the proviso to clause (xiv)

Enercon (India) Ltd. and Others Vs. Enercon Gmbh and Another

Court : Mumbai

Subject : Arbitration

buttress the said submission by referring to the clauses mentioned in the IPLA, regarding the grant of licences, finance, tenure of the IPLA; iv] That the patents in respect of which the licences were to be given … the Trial Court dated 9th January 2009 came to be set aside, resulting in the Application filed under Section 45 of the Arbitration and Conciliation Act, 1996 being allowed in terms of prayer clause 28(a) thereof, and the

Commissioner of Income-tax and anr. Vs. Reading and Bates Exploration ...

Court : Uttaranchal

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 4, 4(2), 5(1), 9, 9(1), 191, 192, 208, 209(1), 234B and 260A; Finance Act, 2001; Finance Act, 1999; Finance Act, 1983; Indian Income Tax Act

Reported in : (2005)198CTR(Uttranchal)670; [2005]278ITR47(Uttaranchal)

justified in directing the Assessing Officer to charge interest under Section 234B which also stands amended by the Finance Act, 2001, with retrospective effect from April 1, 1989 ?'4. Heard learned counsel for the parties and perused the record.5.