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The Commissioner of Income Tax-9 Vs. Ajanta Pharma Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10, 10A, 10B, 15JB, 80HHC, 80 HHC(1), 80 HHC(1A), 80 HHC(1B), 80HHC(3), 80HHC(3A), 80HHC(4), 80HHC(4A), 80HHC(10), 80HHD, 80HHD(3), 80HHG, 80HHE, 80HHF, 115(JB), 115J, 115J(2), 115JA, 115JA(1), 115JA(2), 115JB, 115JB(2), 115JD and 2888(2); Finance Act, 1996; Finance Act, 1997; Finance Act, 2000; Finance Act, 1987; Direct Tax Laws Amendment Act, 1989; Companies Act, 1956

Reported in : 2009(111)BomLR1905; (2009)223CTR(Bom)441; [2009]318ITR252(Bom); [2009]180TAXMAN494(Bom)

80 HHC as contended on behalf of the assessee. Section 80 HHC Sub-section 1B was introduced by the Finance Act with effect from 1.4.2001 so as to phase out the deduction completely by assessment year 2005- 06. Section … in approving the Order of the CIT(A) in allowing Respondent to exclude export profits for the purpose of Section 115 JB at the figure other than that allowed under Section 80 HHC (1B)?2. Whether in law for the … thereof for an assessment year beginning on the 1st day of April, 2002;(iii) fifty per cent thereof for an assessment year beginning on the 1st

Assistant Commissioner of Income Vs. Apsara Processors (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)92TTJ(Ahd.)645

is loss having regard to the amendment made by the Taxation Laws (Amendment) Act, 1975, and by the Finance Act, 2002 ?" 2. The facts which are common in all the cases are that all the assessees have furnished … when Expln. 4 was in the statute. One more aspect needs to be mentioned. By the Finance Bill, 2002, Section 271 of the IT Act has been amended vide Clause 97. By Clause 97(f) of the Finance Bill, … 85 ITD 167 (Jp)(TM) (iii) Shivram Art Processors v. Asstt. CIT (2001) 115 Taxman 320 (Ahd)(Mag) (v) Shri Khedut Sahakari Khand Udyog Mandli v. ITO,

Commissioner of Central Excise, Raipur Vs. M/S. Lloyd Tar Products

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Principal Bench New Delhi

Subject : Service Tax

terms of section 73 of the Finance Act, 1994. Admittedly said notice stand issued after retrospective amendment vide section 115 and 117 of the Finance Act, 2000 by invoking the longer period of limitation. It may not be … taxable services of goods transport operators are deemed to pay the service tax under section 69 of the Finance Act, 1994, but liablity to file return is cast on them only under section 71A and not under section … show cause notices were issued to various recipients in or around November, 2002. The said show cause notice culminated into an order passed by the

Dcit Vs. S.G. Investments and Industries

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2004)89ITD44(Kol.)

of 2001, dated 22-11-2001. Further, in Section 14A of the Act, the following proviso was inserted by the Finance Act, 2002 with effect from the 11th day of May, 2001, namely:- "Provided that nothing contained in this section shall … exempted dividend income violating provisions of Section 14A and also the provisions contained in Sub-section (5) of Section 115-O of the Act." 3. The A.O. has discussed the issue in his asstt. order wherein it is stated

Godrej and Boyce Mfg.Co.Ltd. Mumbai. Vs. Commissioner of Income Tax,

Court : Mumbai

Subject : Income Tax

Acts : Income Tax Act, 1961 - Section 14A(1)(2)(3); Income Tax Act, 1922 - Section 8; Finance Act of 2001 - Section 14A; Finance Act 1997 - Section 10(33)

form part of the total income under the Act. Section 14A was introduced by an amendment to the Finance Act of 2001 with retrospective effect from 1 April 1962. Subsections (2) and (3) were inserted by the Finance … notified in the Official Gazette of 24 March 2008. By Section 10(33) as it stood during Assessment Year 200203 income by way of dividend referred to in Section 115O was not to be included in computing the … Assessment Year 200203 income by way of dividend referred to in Section 115O was not to be included in computing the total income of any

S.i.J. Chains (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

Reported in : (2006)100ITD379(Asr.)

account. Explanation.--For the purposes of this clause, the loss shall not include depreciation; The aforesaid provision /Explanation in Section 115 JB was substituted by the Finance Act, 2002 with effect from 1-4-2001 and admittedly applicable retrospectively with effect … out of brought forward business loss or unabsorbed depreciation, one is nil, nothing is deductible (substituted by the Finance Act, 2002 with effect from 1-4-1997). The Assessing Officer accordingly issued notice under Section 154 of the Income-tax Act and

Modi Zerox Ltd. Vs. Cit Meerut

Court : Allahabad

Subject : Direct Taxation

liability aforesaid, be computed with reference to the rate of exchange specified therein." 10. After the substitution by Finance Act, 2002 w.e.f. 1.4.2003 the position is quiet different." Shri Shambhu Chopra appearing for the revenue submits that Section 43-A … 734/-, with brought forward losses under various heads amounting to Rs. 8, 36, 62, 936/-. The income under Section 115-J of the Act was declared at Rs. 7, 66, 47, 675/-. The assessment was made under Section 143

Godrej and Boyce Manufacturing Co.Ltd. Vs. Dy.Commr. of I.T.Mumbai and ...

Court : Supreme Court of India

Subject : Land Acquisition

were inserted in the Act by the Finance Act, 1997. When the earlier status was restored by the Finance Act, 2002 shareholders once again became liable for tax on dividends which position continued until the provisions of Section 10(33) … plain grammatical construction thereof and the said provision is attracted in respect of dividend income referred to in Section 115-O as such income is not includible in the total income of the shareholder. Sub-sections (2) and (3) of

Parbhudas Kishoredas Tobacco Products Ltd. and ors. Vs. Union of India ...

Court : Madhya Pradesh

Subject : Sales Tax/VAT

Reported in : (2009)20VST853(MP)

to them.3. In the year 1994, the Central Government imposed levy of service tax on various services by Finance Act of 1994. Provisions were made for levy, collection and other related matters of service tax. It is put … proceeding on merits. After lapse of about a year, the respondent No. 2 issued notices dated December 18, 2002 demanding service tax for the period November 16, 1997 to June 1, 1998 on payment to goods transporters … Tribunal or other authority. By providing validation in the Finance Act, 2000, Section 116 of the said Act, the Government has also amended the definition … the apex court in the aforesaid case of Laghu Udyog Bharati [1999] 115 STC 616 (SC) : [2005] 1 VST 24 (SC) : [1999] 112

State of Bihar and ors. Vs. Kalyanpur Cements Ltd.

Court : Supreme Court of India

Subject : Company

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 3; Sick Industrial Companies (Special Provisions) Act, 1985; Companies Act, 1956 - Sections 391; State General Sales Tax Act; General Clauses Act, 1897 - Sections 6; Validation Act; Bihar Finance Act, 1981 - Sections 7(3); Evidence Act - Sections 115; Sales Tax Rules; Constitution of India - Articles 14 and 226

Reported in : JT2010(1)SC225; 2010(1)SCALE150; 2010(1)LC348(SC); (2010)28VST1(SC)

Tax, opinion of Advocate General should be taken as to whether any amendment is required in the Bihar Finance Act. Subsequently, the Advocate General opined that no amendments are required in the Bihar Finance Act, 1981 and that … Company established under Section 3 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 with the mandate to assist the Banks and financial institutions in reducing Non-Performing Assets (NPA) by adopting method … the grant was of rent-free land, the case would come strictly within the doctrine of estoppel enunciated in Section 115 of the Evidence Act. But even otherwise, that is, if there was merely the holding out of a