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May 08 2003

Adityapur Industrial Area Development Authority Vs. Union of India (Uo ...

Court : Jharkhand

Decided on : May-08-2003

Subject : ConstitutionLabour and Industrial

Acts : Constitution of India - Articles 285, 289 and 289(1); Finance Act, 2002 - Sections 10(20)

Reported in : (2003)185CTR(Jharkhand)384; [2003]262ITR289(Jharkhand); [2003(3)JCR4(Jhr)]

the Bank. In view of the amendment brought to Section 10(20) of the income Tax Act by the Finance Act 2002 explaining which are the local authorities whose incomes are not chargeable to tax under the Act and the

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Apr 05 2004

Krishi Utpadan Mandi Samiti Vs. Union of India (Uoi) and anr.

Court : Allahabad

Decided on : Apr-05-2004

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(20); Constitution of India - Article 14; Finance Act, 2002; General Clauses Act

Reported in : (2004)188CTR(All)556; [2004]267ITR461(All); (2004)2UPLBEC1833

Act, 1924 (2 of 1924);'7. Sec. 10(29) on which also the petitioner relied has been abolished by the Finance Act, 2002.8. A bare perusal of the Explanation of Section 10(20) shows that now only four entities are local authorities

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Aug 21 2008

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

Court : Supreme Court of India

Decided on : Aug-21-2008

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

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

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May 03 2006

Adityapur Industrial Area Development Authority Vs. Union of India (Uo ...

Court : Supreme Court of India

Decided on : May-03-2006

Subject : Direct Taxation

Acts : Finance Act, 2002; Income Tax Act, 1961 - Sections 10, 10(20), 10(20A), 28, 38 and 38(2); Bihar Industrial Areas Development Authority Act, 1974 - Sections 7 and 17; Cantonments Act, 1924 - Sections 3; General Clauses Act - Sections 3(3); Contract Act; Road Transport Corporation Act, 1950; Maharashtra Industrial Development Act, 1961; Constitution of India - Articles 243, 243P, 285, 289, 289(1), 289(2) and 289(3)

Reported in : AIR2006SC2375; (2006)202CTR(SC)464; [2006]283ITR97(SC); [2006(4)JCR202(SC)]; 2006(5)SCALE321; (2006)5SCC100; 2006(1)LC713(SC)

the Central Bank of India, Jamshedpur bringing to the notice of the Manager of the Bank that the Finance Act, 2002 had brought about changes in the Income Tax Act and while Section 10(20A) had been omitted, an Explanation

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Feb 04 2004

Saurashtra Education Foundation Vs. Commissioner of Income Tax

Court : Gujarat

Decided on : Feb-04-2004

Subject : Direct Taxation

Acts : Income tax Act, 1961 - Sections 2(15), 10(22) and 11(1); Finance Act, 2002; ;Finance Act, 1983

Reported in : (2004)190CTR(Guj)295; [2005]273ITR139(Guj)

Direct Taxation - exemption - Sections 2 (15), 10 (22) and 11 (1) of Income Tax Act, 1961, Finance Act, 2002 and Finance Act, 1983 - whether assessee-trust entitled to exemption under Section 10 (22) - Section 10 (22)

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Mar 28 2007

Commissioner of Income-tax Vs. Agricultural Produce and Market Committ ...

Court : Mumbai

Decided on : Mar-28-2007

Subject : Direct Taxation

Acts : Agricultural Produce Marketing (Regulation) Act, 1963 - Sections 29, 31, 36, 37 and 52A; Income Tax Act, 1961 - Sections 2(15), 10(20), 11, 12, 12A, 12AA, 80G and 260A; Finance Act, 2002; Bombay Shops and Establishment Act, 1948 - Sections 2(4); Income Tax Act, 1922 - Sections 4(3); Companies Act, 1956 - Sections 25; Finance Act, 1983

Reported in : (2007)210CTR(Bom)386; [2007]291ITR419(Bom)

local authorities were covered under Section 10(20) of the Act and their income was exempt. However, by the Finance Act, 2002, with effect from April 1, 2003, an Explanation has been added to Section 10(20) of the Act whereby

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Dec 05 2007

Commr. of Income Tax Vs. Gujarat Maritime Board

Court : Supreme Court of India

Decided on : Dec-05-2007

Subject : Direct Taxation

Acts : Gujarat Maritime Board Act, 1981 - Sections 3(2), 25, 26, 73, 74 and 75; General Clause Act, 1897 - Sections 3(31); Income Tax Act, 1961 - Sections 2(15), 10(20), 11, 11(1), 11(4), 11(16), 12A and 60 to 63; Finance Act, 2002; Gujarat Maritime Board Act, 1981; Indian Ports Act, 1903 - Sections 36; Banking Companies Acquisition and Transfer of Undertaking Act, 1970 - Sections 2; Public Trust Act

Reported in : (2008)214CTR(SC)81; [2007]295ITR561(SC); 2007(14)SCALE21; 2007AIRSCW7912; 2008(3)KCCRSN199

income of the Board was not eligible to income-tax under Section 10(20) or the Income-tax Act, 1961.3. By finance Act, 2002, an Explanation was added in Section 10(20) by which 'Local Authority' was defined. It gave a restricted meaning

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Jan 25 2006

Commissioner of Income Tax Vs. Asandas Khatri

Court : Madhya Pradesh

Decided on : Jan-25-2006

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(4), 80L, 132, 143, 158BB(1), 158BC and 260A; Finance Act, 2002 - Sections 2; Foreign Exchange Regulation Act, 1973; Foreign Exchange Regulation Rules

Reported in : (2006)201CTR(MP)160; [2006]283ITR346(MP)

senior counsel for the appellant very fairly submitted that Section 158BB of the Act has been amended by Finance Act, 2002 with retrospective effect from 1st July, 1995 and the effect of such amendment is that the undisclosed income … respondent on the FDRs made from NR(E) account were exempt from income-tax as per the provisions of Section 10(4)(ii) of the Act.3. On 18th July, 2001, the Court at the time of admitting the appeal for hearing

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Apr 08 2009

Commissioner of Income Tax, Delhi Vs. Woodward Governor India P. Ltd.

Court : Supreme Court of India

Decided on : Apr-08-2009

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 29, 30 to 43D, 48, 50, 56, 143, 143(1), 143(2), 144, 145, 145(1), 145(2) and 145(3); Finance Act, 2002; Companies Act - Sections 209; Finance Act, 1967

Reported in : (2009)223CTR(SC)1; [2009]312ITR254(SC); JT2009(5)SC378; 2009(5)SCALE198; (2009)13SCC1; [2009]179TAXMAN326(SC); 2009(3)LC1519(SC); [2009] 5 SCR 738

Counsel next contended that on a proper and true interpretation of the amendment to Section 43A, introduced by Finance Act, 2002, Section 43A is clarificatory. According to the learned Counsel, the occasion for the clarificatory amendment arose in view of … example in support of his contentions:1. Where amount is borrowed and used in business:1.4.1999 - 'X' borrows $ 100/-- debits the loan A/c by Rs. 3500/-(at Rs. 35/- per dollar)on the basis of prevailing market rate.- Rate

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Feb 26 2007

Commissioner of Income Tax Vs. Mrs. C. Malathy

Court : Chennai

Decided on : Feb-26-2007

Subject : Direct Taxation

Acts : Income-tax Act - Sections 139, 142(1), 143, 143(2), 147, 148 and 153(2); Finance Act, 2006; Finance Act, 2002

Reported in : (2008)214CTR(Mad)173

the expiry of twelve months as specified under Section 143(2) as it stood before the amendment under the Finance Act, 2002, but before making the assessment, every such notice shall be deemed to be a valid notice; in the

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