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Commissioner of Income Tax Vs. Walfort Share and Stock Brokers (P) Ltd ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(33), 14A, 94, 94(7) and 260A; Finance Act, 2001

Reported in : (2008)219CTR(Bom)409; [2009]310ITR421(Bom)

by the Counsel for the Revenue on the CBDT instructions dated 23rd Feb., 2004 which reads as under:The Finance Act, 2001 introduced inter alia Sub-section (7) of Section 94 of the IT Act, w.e.f. 1st April, 2002 to curb

Commissioner of Income Tax Vs. Shambhu Mercantile Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(34), 94(7) and 143(2); Finance Act, 2001; Finance (No. 2) Act, 2004

Reported in : (2009)224CTR(Del)499; [2009]183TAXMAN251(Delhi)

at this stage that Section 94(7) of the Act was inserted in the statute by virtue of the Finance Act, 2001 w.e.f. 1st April, 2002. In respect of transactions prior to the insertion of this section this Court in

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96ITD1(Mum.)

by the Finance (No. 2) Act, 1991 with retrospective effect from 1-4-1972; insertion of section 14-A by the Finance Act, 2001 with retrospective effect from 1-4-1962; Explanation to section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1-4-1987 … purchase and sale of units of Mutual Funds is allowable or not? 2. Whether the provisions of section 94(7) of the Income Tax Act, 1961 can be interpreted as retrospective in operation and if so, its effect?"

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

by the Finance (No. 2) Act, 1991 with retrospective effect from 1.4.1972; insertion of Section 14-A by the Finance Act, 2001 with retrospective effect from 1.4.1962; Explanation to Section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1.4.1987 … purchase and sale of units of Mutual Funds is allowable or not? 2. Whether the provisions of Section 94(7) of the Income-tax Act, 1961 can be interpreted as retrospective in operation and if so, its effect?" 2.

J and S Granites Company Vs. State of Kerala and ors.

Court : Kerala

Subject : Sales Tax

Acts : Kerala General Sales Tax Act, 1963 - Sections 7(1) and 59A; Kerala Value Added Tax Act, 2003 - Sections 5(1), 8 and 94; Kerala Finance Act, 2001; Kerala Finance Act, 2004

Reported in : (2009)25VST424(Ker)

for each crushing machine of size exceeding Rs. 1,80,000 per annum40.64 cm x 22.86 cm.12. By the Kerala Finance Act, 2001, the following Explanation was added with effect from July 23, 2001.Explanation.-Primary crusher shall also be reckoned for the … provisions and is in excess of the authority conferred as per Section 59A of the KGST Act and Section 94 of the KVAT Act and is, hence, without jurisdiction. It is argued that the impugned action amounts to

The Commissioner of Central Excise and Service Tax Vs. M/s. Fosroc Che ...

Court : Karnataka

Subject : Service Tax

conferred by section 37 of the Central Excise Act, 1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994), the Central Government amended the Cenvat Credit Rules, 2004 by issue of a notification … Supreme Court in the case of SHYAM SUNDER and Others vs. RAM KUMAR and Another reported in AIR 2001 SC page 2472, while dealing with the question whether a substituted provision necessarily means the amended provision is

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 … view of the above, the demand of CVD and SAD on Anti-Dumping Duty which is equal to Rs. 94,67,767 + Rs. 12,39,020 = Rs. 1,07,06,787 is not maintainable. Demand of Anti-dumping Duty on Ascorbic Acid is bad

Smt. Bhanuben Chimanlal Malavia Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Rajkot

Subject : Direct Taxation

Reported in : (2006)100TTJ(Rajkot.)337

the meantime. The Revenue's argument related to the provisions of Section 14A, which has been inserted by the Finance Act, 2001 with retrospective effect from 1st April, 1962. On a plain reading of the provisions of Section 14A, it … It was further submitted that the AO. intended to make the disallowance of loss by virtue of Section 94(7) of the IT Act, 1961 but this section is effective w.e.f. 1st April, 2002. As regards the applicability

Eveready Industries India Ltd. Vs. Commissioner of Income-tax, Kolkata ...

Court : Kolkata

Subject : Direct Taxation

the lead case, we are concerned with the assessment years prior to insertion of section 94(7) vide the Finance Act, 2001 with effect from April 1, 2002. We are of the view that the Assessing Officer had erred in

income Tax Officer Vs. Shambhu Mercantile Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2008)304ITR36(Delhi)

Circular No. 14 of 2001 [(2002) 172 CTR (St) 13] issued by the CBDT explaining the provisions of Finance Act, 2001 and the reasons for incorporating Section 94(7) of the Act. The relevant part of the said circular is