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Virtual Soft Systems Ltd. Vs. Commissioner of Income Tax, Delhi-i

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28(1), 48, 143, 143(1), 143(1A), 260A, 271 and 271(1); Finance Act, 1975; Finance Act, 2002 - Sections 271; Taxation Laws (Amendment) Act, 1975; Finance Act, 1993; Finance Act, 1992; Finance Act, 1951; Income Tax Act, 1922 - Sections 23(5), 28 and 28(1); Constitution of India - Article 20(1)

Reported in : (2007)207CTR(SC)733; [2007]289ITR83(SC); JT2007(3)SC125; 2007(2)SCALE612; (2007)9SCC665

Elphinstone Spinning and Weaving Mills Company Ltd. : [1960]40ITR142(SC) . 11. Section 271(1)(c) was again amended by the Finance Act, 2002. Subsequent amendment was brought to the notice of the Bench hearing the Appeal. In the impugned order, the … no tax, no penalty could be levied. This submission is based with reference to the provisions contained in Section 143(1A) of the Act before its amendment which came on the Statute in 1993 with retrospective effect from 1.4.1989.

Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 2(24), 17, 28, 41, 44, 45, 59, 80HHC, 139(1), 139(3), 143(1A), 143, 144, 147, 160(1), 256(2), 271, 271(1) and 280D; ;Taxation Laws (Amendment) Act, 1975; ;Finance Act, 2002 - Sections 271(1); ;Finance Act, 1993 - Sections 143(1A); ;Constitution of India - Article 141

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

have been concealed or inaccurate particulars have been furnished.'Section 271(1)(c) of the Act has been further amended by Finance Act, 2002, by which Clause (iii) and Expln. 4 has been modified. After the amendment section reads as follows :'(iii) … mean a case of overall loss. No doubt it was a question of levy of additional income-tax under Section 143(1A), yet the point involved was the same as to whether even after certain additions the overall result was

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

Court : Supreme Court of India

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 … 28.1.1998 for the assessment year 1998-99 on a total income of Rs. 1,10,28,190.00. That return was processed under Section 143(1)(a) on 23.3.1999. On 16.8.1999 a notice under Section 143(2) was issued to the assessee stating that in the

Commissioner of Income Tax Vs. Mrs. C. Malathy

Court : Chennai

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

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

Commissioner of Income Tax Vs. C.L. Khatri

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 113, 132, 132A, 143, 143(3), 144, 147, 158B, 158BA(1), 158BA(2), 158BB, 158BC and 260A; ;Finance Act, 2002 - Sections 158BB

Reported in : (2005)197CTR(MP)44; [2006]282ITR97(MP)

property which has not been or would not have been disclosed for the purposes of this Act.'Subsequently, by finance Act, 2002, the following words were added with retrospective effect from 1st July, 1995, at the end of the above … ORDERR.V. Raveendran, C.J.1. This appeal by the Revenue under Section 260A of the IT Act, 1961 ('Act' for short), is against the order dt. 21st May, 2001 of … assessment are distinct and different and that while regular assessment under Section 143(3) is to be framed on the basis of the return of income

Commissioner of Income Tax Vs. Ms. Real Image Pvt. Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act 1961 - Section 143(1), 55(2)(a); Finance Act, 2002 - Section 28(v-a)

"goodwill". He has also contended that introducing the provision in the statute with effect from 1.4.2003 vide the Finance Act, 2002 would indicate that it is the intention of the Legislature to tax such receipts irrespective of the assessment … Prayer:- Appeal under Section 260A of the Income Tax Act, 1961 against the orders of the Income Tax Appellate Tribunal Madras 'B' … of Rs.98,22,000/- as a capital receipt. The Return was processed under Section 143(1) of the Income Tax Act on 20.1.2003. After issuance of statutory notice

Ram Nath Jindal Vs. Cit

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2001)170CTR(P& H)251

has not been claimed by the assessee. This position is further obvious from the fact that in the Finance Act, 2001, Explnation 5 has been inserted in section 32(1)(ii) with effect from 1-4-2002. It has been inter alia … could not be allowed. It is the admitted position that the assessing officer had passed orders under section 143(1) during the relevant years. Since the assessee had not claimed any depreciation, it was not possible for the

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 claims made by the assessee with regard to exemption and/or deduction. Those can be considered under Section 143(3) of the said Act of 1961, whereas the third income being the undisclosed income is taxed and by

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 … the claims made by the assessee with regard to exemption and/or deduction. Those can be considered under Section 143(3) of the said Act of 1961, whereas the third income being 'the undisclosed income' is taxed and by