Advanced Search Results

Commissioner of Income Tax Vs. Ramesh Chand Soni

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 142(2A), 153, 158BE and 158BH; Finance Act, 1996; Finance (Amendment) Act, 2002; Limitation Act, 1963 - Sections 30

Reported in : (2005)194CTR(Raj)84

period requiring for completing the assessment. The proviso came into effect w.e.f. 1st June, 2002, on commencement of Finance Act, 2002 by which Expln. 1 to Section 158BE was substituted in place of previous Expln. 1. In this connection, … rules inasmuch as there was no approval of the CIT for getting the books of account audited under Section 142(2A) of the Act, therefore, the same was invalid, despite the fact that the reference was made absolutely in

C.i.T. Vs. Kushal Bagh Minerals Pvt. Ltd. and ors.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2008)216CTR(Raj)269; [2009]310ITR125(Raj)

and the learned Tribunal held, that the provisions of Section 143 and 154 have been amended by the Finance Act of 1999, whereby, the provisions were modified, and prima facie adjustments, additional tax, and issue of limitation etc. … Sections 234A, 234B and 234C. While, for the assessment years 2001-02 to 2002-03, the Assessing Officer taxed the assessee on book profit as per the … 139 or along with the return of income furnished in response to the notice under Clause (i) of Section 142.7. In our view, it clearly appears from the assessment orders, that the orders proceeds in issuing initial intimation

Cargo Clearing Agency (Gujarat) Vs. Joint Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(7A), 3, 4, 4(1), 32(2), 64, 65, 66, 68, 69, 69A, 69B, 69C, 113, 132, 132A, 132B, 132(5), 132(7), 139, 139(1), 139(5), 142, 142(1), 143, 143(1A), 143(1B), 143(2), 143(3), 144, 145, 147 to 153, 153(2), 158B, 158BA, 158BA(1), 158BA(2), 158BB, 158BB(1), 158BB(2), 158BC, 158BD, 158BE, 158BG, 158BH and 245D; Finance Act, 1995; Finance (No. 2) Act, 1996; Finance (No. 2) Act, 1998; Finance Act, 2001; Finance Act, 2002

Reported in : (2008)218CTR(Guj)541; [2008]307ITR1(Guj)

initiated or requisitions made on or after that date.12.4. The last amendment came to be made by the Finance Act, 2002 which has been explained in Circular No. 8/2002 dated 27.08.2002. The relevant extract of the said Circular reads … income have been filed under any Sub-section of Section 139 or in response to a Notice issued under Section 142(1) or under Section 148 but assessments have not been made till the date of search, the incomes disclosed

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 … the assessing officer served notice under Section 158BC on the assessee on 11-10-1996. After certain notices under Section 142(1) the assessee submitted return of undisclosed income under Section 158BC at Rs. 1,00,000 on 14-1-1997.The assessing officer thereafter

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 … AO served notice under Section 158BC on the assessee on 11th Oct., 1996. After certain notices under Section 142(1) the assessee submitted return of undisclosed income under Section 158BC at Rs. 1,00,000 on 14th Jan., 1997. The

Mayawati Vs. Cit (Central-i) and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act - Sections 138, 139, 139(1), 142(1), 143(2), 143(3), 147, 148 to 153, 153(2) and 163; Finance Act, 1996; Finance Act, 2002; General Clauses Act, 1897 - Sections 27; Evidence Act - Sections 114; Negotiable Instruments Act, 1881; Constitution of India - Article 226

Reported in : (2009)222CTR(Del)117; 157(2009)DLT324; [2010]321ITR249(Delhi)

to Sub-section (2) of Section 143, as it stood immediately before the amendment of said Sub-section by the Finance Act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, re-assessment or recomputation … 25.3.2008 issued under Section 148 of the IT Act; (b) the Notices dated 25.6.2008 and 3.11.2008 issued under Section 142(1) of the IT Act; and (c) the Order dated 27.11.2008.2. The factual sequence is short and uncontroverted. The

Nayek Paper Converters Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2005)93ITD144(Kol.)

assessment determining the total income or loss, and the sum payable or refundable to the assessee. By the Finance Act, 2002, Section 143(2) and 143(3) has been amended to introduce a concept of limited scrutiny on and from 1.6.2002 as … a return has been made under Section 139, or in response to a notice under Sub-section (1) of Section 142, if any tax or interest is found due on the basis of such return, after adjustment of any

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 … the Hon'ble Supreme Court in the case of CIT v. Elphinstone Spinning and Weaving Mills Ltd. 40 ITR 142, specifically at page 150, to appreciate that it is for the legislature to avoid the anomaly which arises

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 … prescribed form and verified in the same manner as a return under Clause (i) of Sub-section (1) of Section 142, setting forth his total income including the undisclosed income for the block period:Provided that no notice under Section

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 … the return of income furnished in response to a notice under Clause (i) of Sub-section (1) of Section 142.5) Save as otherwise provided in this section, all other provisions of this Act shall apply to every assessee,