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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 … 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 to capital gains tax.

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 … 143(1 A) relying. upon the ' Supreme Court decision in the case of CIT v. HEG 243 ITR 48 or whether the Judicial Member is justified in upholding the levy of additional tax relying upon the decision

C.K. Jidheesh Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Subject : Excise

Acts : Finance Act, 1994 - Sections 65(47), 65(48), 65(72), 66 and 67; Finance Act, 2001; Customs Act - Sections 2(22); Constitution of India - Articles 14, 19(1) and 366(29A)

Reported in : AIR2006SC444; (2005)199CTR(SC)212; 2005(103)ECC81; [2005]279ITR118(SC); JT2005(10)SC297; 2005(4)KLT770(SC); (2005)13SCC37; [2006]144STC322(SC)

and discriminatory being in violation of Articles 14 and 19(1)(g) of the Constitution, and also violative of the Finance Act, 1994 as amended by the Act 14 of 2001. The Petitioner also prays for an Order directing the … But the real challenge is to the amendment in the Finance Act. That letter is only clarifying what Section 67 of the Finance Act, 1994, as amended by Act 14 of 2001, provides. 6. Section 65(47) defines

CADD Centre Vs. Assistant Commissioner of Income-tax, City Circle -II ...

Court : Chennai

Subject : Direct Taxation

at the hands of the authorities." This decision is not applicable to the facts of this case. The Finance Act, 2001, has amended clause (xiii) of Section 47 of the Income Tax Act to provide that any transfer of … Company amounts to transfer of capital assets even when no consideration has been received within the meaning of section 48 of the Income Tax Act, 1961? (c) Whether the Income Tax Appellate Tribunal is right in law in

Addl. Cit Vs. Kwality Frozen Foods Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Service Tax

Reported in : (2005)1SOT243(Mum.)

sale of trademark as such was brought into the provisions of section 55(2) through the amendment by the Finance Act, 2001. The said amendment brought in by the Finance Act, 2001 is effective only from assessment year 2002-03. The … provisions of section 55(2)(a) were amended with effect from 1-4-1998. After the amendment for the purpose of sections 48 and 49, the cost of acquisition in relation to capital asset being goodwill of the business, tenancy right,

Vysali Chemotherapeutics (P) Ltd. Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45(1), 48 and 55(2)

Reported in : (2004)186CTR(Ker)306; [2004]269ITR362(Ker)

a brand name. Counsel also relied on the amendment made to Sub-section (2) of Section 55 by the Finance Act, 2001, w.e.f. 1st April, 2002, and submitted that this amendment also is indicative of the fact that goodwill did … of the business of the assessee and, therefore, it is liable to be assessed to capital gains under Section 48 of the Act.3. Sri P. Balakrishnan, learned counsel appearing for the assessee submits that 'brand name' cannot be

Suman Kumar Sinha Vs. the State of Jharkhand and ors.

Court : Jharkhand

Subject : Property

Acts : Stamp Act - Schedule - Article 23; Power of Attorney Act 1822 - Sections 2(10) and 2(21) - Schedule - Article 48; Bihar Finance Act, 2001; Registration Act, 1908; Contract Act - Sections 185

Reported in : AIR2009Jhar53; 2009(57)BLJR1746

beone person.N.B., - the term 'registration'includes every operation incidental to registration under the IndianRegistration Act, 1877.6. By Bihar Finance Act (II of 2002) Act, 2001 the Article as amended by Bihar Amendment reads as under: I-A/48.Power-of-Attorney. - As … be necessary in respect of the said property in the name of and on behalf of the executant.4. Section 2(21) of the Power of Attorney Act 1822 defines the word 'Power of Attorney' which reads as under:(21)

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 … aspect, there is no dispute. Even the Andhra Pradesh judgment Addl. CIT v. M.J. Devda [1977] 109 ITR 484 clearly states that, while deciding a reference under Section 256(1), the court must take into account such retrospective

National Dairy Development Board Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2008)114TTJ(Ahd.)145

and function of carrying on developmental activities in the areas as specified in the said Acts. By the Finance Act, 2001 and Finance Act, 2002, tax exemption of certain bodies set up through an Act of Parliament was withdrawn. … 10A(6) providing for the deemed allowance of depreciation for the assessment years ending before 1st day of April, 2001. Section 10B(6) also provides for similar deemed allowance of depreciation for any of the relevant assessment years ending before … Court in CIT v. Synergy Financial Exchange Ltd. (2006) 205 CTR (Mad) 481 : (2007) 288 ITR 366 (Mad) wherein the Court held that retrospectivity

Colorway Photo Lab Vs. Union of India (Uoi)

Court : Madhya Pradesh

Subject : Service Tax

Reported in : 2009[15]STR17; [2009]22STT123; (2009)25VST97(MP)

Cost of the petition.2. The submission of the petition in nutshell is that provisions of Section 67 of Finance Act, 2001 be declared ultra vires the Constitution, void and inoperative. According to the petitioner the circular dated 9-7-2001 issued … to the petitioner the term 'photography' and 'photography studio or agency' have been defined in clauses 47 and 48 respectively of Section 65 of the Act and as the work done by the petitioners does not fall