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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 … been regularly followed by the assessee, the Assessing Officer may make an assessment in the manner provided in Section 144.13. As stated above, one of the main arguments advanced by the learned Additional Solicitor General on behalf of

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) … total income (hereinafter in this Explanation referred to as the correct income) as assessed under Section 143 or Section 144 or Section 147 (reduced by the expenditure incurred bona fide by him for the purpose of making or

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 provisions of Section 90; "regular assessment" means the assessment made under Sub-section (3) of Section 143 or Section 144; "tax" in relation to the assessment year commencing on the 1st day of April, 1965, and any subsequent

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 of the block period and provisions of Section 142, Sub-section (2) and (3) of Section 143 and Section 144 shall apply accordingly. The assessing officer shall not be required to issue any Notice under Section 148 for

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 … increased by the aggregate of the losses of such previous years, determined,-(a) where assessments under Section 143 or Section 144 or Section 147 have been concluded, on the basis of such assessments;(b) where returns of income Have been

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 … the total income determined on the basis of assessments under Sections 143, 144 and 147 (or where the returns of income have been filed but … 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

Commissioner of Income-tax Vs. K.P. Chandradasan

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32(2), 68, 69, 69A, 69B, 69C, 139, 139(1), 139(4), 142(1), 143, 143(1), 144, 147, 148, 158BB, 158BC, 245D(4) and 260A; Finance Act, 2002

Reported in : (2009)226CTR(Ker)403; [2009]183TAXMAN23(Ker)

: [2007] 295 ITR 282 : [2008] 166 Taxman 18, contended that the amendment to Clause (a) by Finance Act, 2002 with effect from 1-7-1994, which requires completion of assessment prior to the date of commencement of search, was … increased by the aggregate of the losses of such previous years, determined,-(a) where assessments under Section 143 or Section 144 or Section 147 have been concluded prior to the date of commencement of the search or the date

Commissioner of Income Tax vs.m. S. Aggarwal

Court : Delhi

Subject : Direct Taxation

the AO and relatable to such evidence.‖ The expression ―relatable to such evidence‖ has been inserted by the Finance Act, 2002 retrospectively w.e.f. 1.7.1995. A bare reading of this provision would indicate that undisclosed income has to be computed … by the aggregate of the losses of such previous years, determined,- (a) where assessments under Section 143 or Section 144 or Section 147 have been concluded prior to the date of commencement of the search or the date

The Commissioner of Income Tax vs.m. S. Aggarwal

Court : Delhi

Subject : Direct Taxation

the AO and relatable to such evidence.‖ The expression ―relatable to such evidence‖ has been inserted by the Finance Act, 2002 retrospectively w.e.f. 1.7.1995. A bare reading of this provision would indicate that undisclosed income has to be computed … by the aggregate of the losses of such previous years, determined,- (a) where assessments under Section 143 or Section 144 or Section 147 have been concluded prior to the date of commencement of the search or the date

Commissioner of Income Tax, Central-1, New Delhi Vs. Shailendra Mahto

Court : Delhi

Subject : Direct Taxation

Sections 158B clause (b), 158BA, 158BB, 158BC and 158BD of the Act. The said provisions post amendment vide Finance Act, 2002 with retrospective effect from 1 st July, 1995, read as under:“Section 158B. In this Chapter, unless the context … by the aggregate of the losses of such previous years, determined,- (a) where assessments under Section 143 or Section 144 or Section 147 have been concluded prior to the date of commencement of the search or the date