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Jindal thermal Power Company Limited (Formerly Jindal Tracteble Power ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 10, 10A, 10B, 11, 12, 80HHC, 80HHC(3), 80HHF(3), 112, 113, 115A, 115AA, 115AB, 115ACA, 115AD, 115B, 115BB, 115BBA, 115E, 115JB, 119(2), 140A, 154, 161(1A), 164, 164A, 167B, 172(4), 174(2), 175, 176(2), 192, 207, 208 to 219, 234A, 234B and 234C; Finance Act, 2002 - Sections 115J, 115J(1), 115JA, 115JB(1) and 115JB; Finance Act, 1987; Finance (No. 2) Act, 1996; Finance Act, 2000 - Sections115B and 115JB; Finance (Amendment) Act, 2000; Finance (Amendment) Act, 2002; Companies Act, 1956 - Sections 210; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3, 17(1), 32(2), 32A(3), 72(1), 73, 74, 74A(3), 139(1), 142(1) and 288(2); Finance Act, 2001 - Sections 2(8); Constitution of India - Articles 265 and 300A

Reported in : (2006)203CTR(Kar)381; [2006]286ITR182(KAR); [2006]286ITR182(Karn)

respondent seeks to rely as is seemingly done in view of the amendment of Section 115JB effected by Finance Act, 2002 with retrospective effect from 1.4.2001 enabling him to levy such interest. The said amendment in so far as … made clear that having regard to the fact that power has been conferred upon the Board under Section 119(2)(a) of the Act, the Board has issued circulars by notification No. F.No. 400/234/95-IT(B) dated May 23, 1996 and

Set Satellite (Singapore) Pte Ltd., a Company Incorporated and Registe ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 9, 92, 92C, 119, 195, 145, 234A, 234B and 234C; Finance Act, 2001; Finance Act, 2002

Reported in : (2008)110BOMLR2726; 2008BusLR850(Bom); (2008)218CTR(Bom)452; [2008]307ITR205(Bom)

92 of the Income Tax Act. The principles have been clarified by the Finance Act, 2001 as also Finance Act, 2002. From the order of the C.I.T. which has been accepted it is clear that the Appellant herein has … administration of law by all the income-tax authorities in a specific situation and is, therefore, validly issued under Section 119 of the Income-tax Act. As such, the circular would be binding on the Department.See also Commissioner of Income

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 … in which the search commenced or requisition was made, and to amend Clause (a) of Sub-section (2) of Section 119 of the Income-tax Act to enable the Central Board of Direct Taxes to issue such directions as it

Commnr. of Income Tax-i, Ahmedabad Vs. Gold CoIn Health Food Pvt. Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 5(1), 72, 271 and 271(1); Finance Act, 2002; Wealth Tax Act - Sections 18

Reported in : (2008)218CTR(SC)359; [2008]304ITR308(SC); JT2008(9)SC312; 2008(11)SCALE492; (2008)9SCC622; 2008(2)LC1144(SC); 2008AIRSCW5841; 2008(6)Supreme1; 2008(11)SCALE492.; [2008] 12 SCR 179

disposed of - INCOME TAX ACT,1961[C.A.No.43/1961] -- Section 271(1)(c) Explanation 4 (as amended by Finance Act (2002) & Section 119: [Dr. Arijit Pasayat, P.Sathasivam & Aftab Alam, JJ] Concealment of income Levy of penalty - Held, Explanation 4 … income is a loss. This question has to be considered in the background of the amendment made by Finance Act, 2002 (in short `Finance Act') w.e.f. 1.4.2003 in Explanation 4 to Section 271(1)(c)(iii) of the Act. In Virtual's case

Shri Jagannath Temple Managing Committee Vs. Commissioner of Income-ta ...

Court : Orissa

Subject : Trusts and SocietiesDirect Taxation

Reported in : AIR2008Ori37; (2008)218CTR(Ori)568; [2008]299ITR56(Orissa)

Section 139 are:xxx xxx xxx(v) Body or authority referred to in Clause (23BBA).Section 139(4C) was inserted by the Finance Act, 2002 w.e.f. 1-4-2003 requiring certain specific body or institutions such as, Scientific Research Association, News Agency or Institution referred … and ensure a fair enforcement of its provisions, by issuing Circulars in exercise of its statutory powers under Section 119 of the Income-tax Act which are binding on the authorities in the administration of the Act.26. In coming

Commissioner of Central Excise, Pune Vs. Cadbury India Ltd.

Court : Supreme Court of India

Subject : Excise

Acts : Income Tax Act, 1922; Central Excise (Valuation) Rules, 1975 - Rules 4, 5 and 6

Reported in : AIR2006SC2838; 2006(200)ELT353(SC); JT2006(7)SC147; 2006(7)SCALE484; (2006)7SCC228

product namely chocolate - Appeals dismissed - INCOME TAX ACT,1961[C.A.No.43/1961] -- Section 271(1)(c) Explanation 4 (as amended by Finance Act (2002) & Section 119: [Dr. Arijit Pasayat, P.Sathasivam & Aftab Alam, JJ] Concealment of income Levy of penalty -

Secretary, P.W.D. and ors. Vs. D.P. Construction

Court : Supreme Court of India

Subject : Civil

Acts : Tamil Nadu Transparency in Tenders Rules, 2000 - Rules 8, 9, 11 and 12

Reported in : IV(2006)BC561; 2006(8)SCALE45; (2006)11SCC156

were scrupulously followed - Appeal allowed - INCOME TAX ACT,1961[C.A.No.43/1961] -- Section 271(1)(c) Explanation 4 (as amended by Finance Act (2002) & Section 119: [Dr. Arijit Pasayat, P.Sathasivam & Aftab Alam, JJ] Concealment of income Levy of penalty -

State of Karnataka and anr. Vs. Pastor P. Raju

Court : Supreme Court of India

Subject : Criminal

Acts : Indian Penal Code (IPC), 1860 - Sections 153B, 153B(1), 505(2) and 505(3); Code of Criminal Procedure (CrPC) - Sections 57, 167, 167(2), 173, 173(2), 190, 190(1), 196(1A), 200, 202, 436 and 482; Code of Criminal Procedure (CrPC) , 1908 - Sections 190

Reported in : AIR2006SC2825; 102(2006)CLT612(SC); 2006CriLJ4045; JT2006(7)SC165; 2006(5)KarLJ337; 2006(3)KLT830(SC); RLW2007(1)SC200; 2006(7)SCALE503; (2006)6SCC728

was set aside - Appeal allowed - INCOME TAX ACT,1961[C.A.No.43/1961] -- Section 271(1)(c) Explanation 4 (as amended by Finance Act (2002) & Section 119: [Dr. Arijit Pasayat, P.Sathasivam & Aftab Alam, JJ] Concealment of income Levy of penalty -

Commissioner of Income Tax Vs. Oscar Laboratories (P) Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2009)222CTR(P& H)546

appeals, were granted statutory status with the insertion of Section 268A into the IT Act, 1961, by the Finance Act, 2008 with retrospective effect from 1st April, 1999. The second contention advanced by the learned Counsel for the … a reconsideration of the controversy, the Tribunal vide order dt. 14th March, 2002, dismissed the appeal preferred by the Revenue. It is, therefore, that the … the Tribunal.10. In the sequence of facts noticed hereinabove, reference in the first instance, must be made to Section 119 of the 1961 Act, whereunder the CBDT was authorised to issue orders, instructions or directions to IT authorities

Kisan Discretionary Family Trust Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2008)113TTJ(Ahd.)918

Section 119 of the Act. wherein it was held that, "The press notifications issued by the Ministry of Finance, Government of India, on 19th May, 1951 and 18th July, 1951 dealing with a concessional scheme for the … under Section 143(3) was made.2.3 The return of income for asst. yr. 2002-03 accompanied with audited accounts was furnished on 9th Aug., 2002 (page Nos. … (2004) 82 TTJ (Panaji) 869 where Tribunal held as under: Law is trite that a circular, even under Section 119, cannot be thrust upon the assessee. The assessee can derive advantage from a circular but it does not