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Commissioner of Income Central Ii Vs. Suresh N. Gupta

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 4, 4(1), 32, 32(2), 68, 69, 69A, 69B, 69C, 112, 113, 115A, 115AB, 115AC, 115ACA, 115AD, 115B, 115BB, 115BBA, 115E, 115JB, 132, 132A, 132B, 139, 139(1), 142, 142(1), 143, 143(1B), 143(2), 143(3), 144, 147, 148, 158B, 158BA, 158BA(1), 158BA(2), 158BB, 158BB(1), 158BC, 158BH, 161, 161(1A), 164, 164A, 167B, 245D and 245D(4); Finance Act, 2001 - Sections 2(1), 2(2) and 2(3); Finance Act, 2002 - Sections 113; Finance Act, 1995; Constitution of India - Articles 269, 270 and 271

Reported in : (2008)214CTR(SC)274; [2008]297ITR322(SC); JT2008(1)SC208; 2008(1)SCALE99; (2008)4SCC362; 2008AIRSCW1066

respect of the search carried out on 17.1.2001; secondly, whether the proviso inserted in Section 113 by the Finance Act, 2002 is clarificatory?Whether Finance Act, 2001 was applicable to block assessment under Chapter XIV-B up to 1.06.2002:5. Chapter XIV-B … XIV B is different from scheme of assessment of 'total income' of any person in terms of Section 4(1) of the 1961 Act inasmuch as under Chapter XTV-B assessment is made of 'undisclosed income' as against assessment

Agricultural Produce Market Committee, Narela, Delhi Vs. Commissioner ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1), 10, 10(20), 10(26AAB) and 260A; Finance Act, 2002; Cantonments Act, 1924 - Sections 3; General Clauses Act, 1897 - Sections 3(31); Delhi Agricultural Produce Marketing (Regulation) Act, 1998 - Sections 5, 22(1), 22(2), 62 65, 88, 88(1), 88(2) and 88(3); Delhi Development Act, 1957; Payment of Bonus Act, 1965 - Sections 32; Constitution of India (Seventy-third Amendment) Act, 1992; Constitution of India (Seventy-fourth Amendment) Act, 1992; Constitution of India - Articles 243, 243P, 243 and 243ZF

Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540

were enjoying exemption from income tax under Section 10(20) of the 1961 Act prior to its amendment by Finance Act, 2002 w.e.f. 1.4.03.10. Prior to the amendment by Finance Act, 2002, Section 10(20) of the Income-tax Act, 1961 provided … Act. (vi) such other functions of like nature as may be entrusted to the Board by the Government. CHAPTER V MARKET OF NATIONAL IMPORTANCE 26. Establishment of market of national importance and Marketing Committee thereof -(1) Notwithstanding

K.l. Swamy Vs. The Commissioner Of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

the words “that Assessing Officer shall proceed” the words “under Section 158BC” was inserted w.e.f. 01.06.2002 by the Finance Act, 2002. It was contended that the amendment was specifically brought to cure the anomaly and the fact that it … was required to be followed by the Assessing Officer, is only in terms of the very provisions of Chapter XIV­B of the Act and therefore Section 158BC as well as 158BFA(1) are even otherwise attracted and just … months and levied interest of Rs.7,12,296/­ on the tax amount of Rs.27,49,600/­. 4.2 The appellant being aggrieved by the order of the Assessing Officer filed

Krishna Kumar Rawat and ors. Vs. Union of India (Uoi) and ors.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2007)210CTR(Raj)553; RLW2007(4)Raj3133

accruing as a result of such transfer. Apart from the fact that Section 50C was introduced by the Finance Act, 2002 w.e.f. 1st April, 2003 and was not available when the subject compulsory purchase order was passed, this provision … the provision for an appeal under the IT Act, judicial scrutiny in respect of exercise of power under Chapter XX-C also extends to a scrutiny whether the order is erroneous, irrational or based on irrelevant considerations which … rate of Rs. 1,051 per sq. yd. and a sum of Rs. 40,00,000 was paid in advance by the prospective buyers to the vendor vide

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2007)288ITR226(Hyd.)

short issue in this appeal is whether the levy of surcharge in terms of the provisions of the Finance Act, 2002, is valid in a block assessment made under Section 158BC of the Income-tax Act. The tax has to … section in respect of total income in a regular assessment is Section 4 of the Income-tax Act, and this section makes a specific reference to … position in respect of levy of surcharge in a block assessment is totally different. It is pleaded that Chapter-XIVB is a self-contained code for the computation of undisclosed income and also for bringing it to tax, and

Manisha Construction Vs. the Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

proceedings as provided under the newly inserted Sub-clause (A) of Clause (c) of Section 158BB(1) inserted by the Finance Act, 2002 with retrospective effect from 1-7-1995.14. We have considered the rival contentions of both the parties and have carefully … to provisions of Section 158BB(1) providing the manner of computation of undisclosed income of any block period under Chapter XIVB of the Act. Section 158BB reads as under: 155BB(1). The undisclosed income of the block period shall … off of losses during the block period in true and natural spirit. 4. The ld. CIT(A) has erred in disallowing sol off of losses without

Slocum Investment (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Service Tax

Reported in : (2006)101TTJ(Delhi)558

XIV-B of the Act. These are contained in Chapter IV to Chapter XII-G of the Act. Prior to Finance Act, 2002, amending Section 158BB(1), w.r.e.f. 1st July, 1995, only provisions of Chapter IV were applicable while computing undisclosed income. … 1. IT(SS)A No. 411/Del/2004 is an appeal by the assessee and IT(SS)A No. 45/Del/2005 is an appeal by the Revenue. Both these

Mange Ram Mittal Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

assessing officer and relatable to such evidence appearing in Section 158BB(1) of the Act as substituted by the Finance Act, 2002 with retrospective effect from 1-7-1995." 2. In this appeal the assessee originally filed grounds of appeal running into … hearing before us, the learned Counsel for the assessee pointed out that the Parliament has enacted a separate Chapter XIV-B laying down special procedure for assessment of search cases by the Finance Act, 1995 with effect from … Sardar Dalip Singh. At 6 P.M. on 15-4-1996 the assessee collected Rs. 43,000 cash from various liquor vends and after handing over cash to the

Mange Ram Mittal Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2006)103ITD389(Delhi)

the AO and relatable to such evidence' appearing in Section 158BB(1) of the Act as substituted by the Finance Act, 2002 with retrospective effect from 1st July, 1995.2. In this appeal the assessee originally filed grounds of appeal running … hearing before us, the learned Counsel for the assessee pointed out that the Parliament has enacted a separate Chapter XIV-B laying down special procedure for assessment of search cases by the Finance Act, 1995 with effect from … Singh. At 6 p.m. on 15th April, 1996 the assessee collected Rs. 43,000 cash from various liquor vends and after handing over cash to the

Slocum Investment P. Ltd. (Now Vs. the Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Service Tax

XIV-B of the Act. These are contained in Chapter IV to Chapter XII-G of the Act. Prior to Finance Act, 2002, amending Section 158 BB(1) with retrospective effect from 1.7.95 only provisions of Chapter IV were applicable while computing … 1. IT(SS) A. No. 411/Del/04 is an appeal by the assessee and IT(SS) A.No. 45/Del/05 is an appeal by the Revenue. Both these