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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) … 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 earning any income

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 … believe that the income for the block period ending on 24.11.1995 had escaped assessment within the meaning of Section 147 of the Act. The impugned Notice further stated that the Notice was being issued after obtaining necessary satisfaction

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 … Vikramajit Sen, J.1. This Writ Petition assails the legality of proceedings initiated by the Respondents under Section 147 of the Income Tax Act (IT Act for short) on the premise that the Assessing Officer (hereinafter AO)

Punjab State Cooperative Supply and Marketing Federation Limited Vs. U ...

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80P, 80P(2), 139, 143, 143(2), 147 to 149, 153 and 153(2); Finance (Amendment) Act, 2006; Finance (Amendment) Act, 2002; Direct Tax Laws (Second Amendment) Act, 1989; Finance Act, 1989; Bombay Municipal Boroughs Act, 1925 - Sections 73; Madras General Sales Tax Act, 1959; Madras General Sales Tax (Amendment) Act, 1967; Income Tax Rules - Rule 350A

Reported in : (2006)206CTR(P& H)194; [2007]290ITR15(P& H)

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 makmg the assessment, reassessment or recomputation as … under:Before amendment148. Issue of notice where income has escaped assessment.-(1) Before making the assessment, reassessment or recomputation under Section 147, the AO shall serve on the assessee a notice requiring him to furnish within such period, as may

Ms. Phoenix Lamps India Ltd., Noida Vs. Asstt. Commissioner of Income ...

Court : Allahabad

Subject : Direct Taxation

of the assessee has been exempted under Section 10-A of the Act. He further submitted that by the Finance Act, 2002 Section 43-A has been inserted with effect from 1.4.2003, which is applicable to the assessment year 2003-04, coincidently the … Sujeet Kumar and Sri Shambhu Chopra, learned Standing Counsel. 6. Learned counsel or the petitioner submitted that under Section 147 of the Act action can be taken only in case where the income chargeable to tax is escaped

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 … in the block assessment proceedings, the assessments of the relevant assessment years will have to be reopened under Section 147 which will lead to multiplicity of proceedings for different assessment years falling in the block period, which definitely

The Assistant Commissioner of Income-tax Vs. Apollo Hospitals Enterpri ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 32A, 33, 72A, 72A(7), 139, 142(1), 143(3), 147, 148 to 153 and 246A; Banking Regulation Act, 1949 - Sections 5; Industrial Disputes Act, 1947; Finance Act, 2001; Finance Act, 2002

Reported in : 2008(2)CTC1; (2008)215CTR(Mad)460; [2008]300ITR167(Mad); (2008)4MLJ222

and internet services; or(iv) mining; or(v) the construction of ships, aircrafts or rail systems.(Clause (iiia) was inserted by Finance Act, 2002 w.e.f. 1.4.2003)13. Thus, the legislature has designedly used the expressions and the expression has been so widely defined … of the respondent, chargeable to tax for the assessment year 2000-01 has escaped assessment within the meaning of Section 147 of the Act and therefore, proposed to assess the income for the said assessment year and required the

Asstt. Cit, Range 10(1) Vs. Citicorp Finance (India Ltd.)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)108ITD457(Mum.)

Matched in: Parties Asstt. Cit, Range 10(1) Vs. Citicorp Finance (India Ltd.)

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 … 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 filed, under Section

Sri V. Uppalaiah Vs. the Dcit, Range 3

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2005)94ITD178(Hyd.)

the statute, by giving a different interpretation to the plain language of the statute, The proviso inserted by Finance Act, 2002 was given retrospective effect from 11-5-01 and it was clarified, in specific terms, that the AO should not … below Section 14A to clarify that the AO should not reopen the cases in exercise of powers Under Section 147 of the Act for any assessment year beginning on or before 1^st day of April 2001.The memorandum explaining