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Commissioner of Income-tax Vs. M.S. Aggarwal

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 113 and 154; Finance Act of 2002

Reported in : [2009]308ITR69(Delhi); [2009]178TAXMAN311(Delhi)

Court has concluded that the introduction of the proviso to Section 113 of the said Act by the Finance Act, 2002, was only clarificatory in nature. Consequently, the said proviso would be applicable to searches conducted prior to June … the levy of surcharge was debatable when the Assessing Officer passed his order on June 11, 2003, under Section 154 of the said Act. Therefore, the Tribunal concluded that the rectification proceedings were not in order and consequently,

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)

Matched in: Parties Jindal thermal Power Company Limited (Formerly Jindal Tracteble Power Co. Ltd.) Vs. the Deputy Commissioner of Income Tax and Union of India (Uoi) R/by Its Secretary, Ministry of Finance, Department of Revenue

Assistant Commissioner of Income Vs. Pradeep Gupta

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Subject : MRTP

Reported in : (2007)106ITD444(Jodh.)

chance and receiving a prize that is ultimately distributed, would not amount to a lottery." Amendment by the Finance Act, 2002, in the shape of insertion of Expln. (i) to Section 2(24)(ix) expanding the scope of 'lottery' laying emphasis … Section 115BB r/w Section 2(24) instead of normal rate of taxation as applied by the assessee. Notice under Section 154 was issued in which the assessee claimed that the prize was won due to the indepth knowledge and

Commnr. of Income Tax, Jalandhar-i Vs. Shri Rajiv Bhatara

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 4(1), 113, 154, 158B, 158BA(2), 158BB, 158BC and 260(A); Finance Act, 2000; Finance Act, 2002 - Sections 113; Finance Act, 2001 - Sections 2(1) and 2(3); Constitution of India - Article 271

Reported in : (2009)222CTR(SC)209; [2009]310ITR105(SC); JT2009(4)SC39; 2009(3)SCALE16; (2009)13SCC315; [2009]178TAXMAN285(SC)

amendment made in Section 113. The amendment was incorporated on 1.6.2002 by inserting proviso to Section 113 by Finance Act, 2002. It was by the amendment that levy of surcharge on the disclosed income was specifically provided w.e.f. 1.6.2002. … was conducted on 6.4.2000. The Assessing Officer in his order dated 22.5.2002 imposed surcharge and an application under Section 154 of the Act filed by the assessee for rectification was dismissed vide order dated 17.9.2003 with the observation

Assistant Commissioner of Income Vs. C.V.M. Exports

Court : Income Tax Appellate Tribunal ITAT Rajkot

Subject : Direct Taxation

Reported in : (2006)103ITD251(Rajkot.)

assessee claimed that it was an industrial company as defined in Clause (c) of Section 8 of the Finance Act, 1975, engaged in the manufacture and processing of brassware articles and entitled to the concessional rate of tax. … accepted under Section 143(1). In the year under appeal, i.e., asst. yr. 2002-03, the assessee outsourced the manufacturing facility and exported goods thus manufactured. In … against the order of the CIT(A)-IV, Rajkot, dt. 12th Sept., 2003, in the matter of order passed under Section 154/143(1). (i) The learned CIT(A) has erred in law and on facts in allowing the assessee's claim for exemption

Indian Oil Corporation Ltd. Vs. the State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Bihar Tax on Entry of Goods into Local Areas for Consumption Use or Sale Therein Act, 1993 - Sections 7; Bihar Finance Act, 1981 - Sections 16(9)

or Sale Therein Act, 1993 (hereinafter referred to as 'the Act') read with Section 16(9) of the Bihar Finance Act (hereinafter referred to as the 'Finance Act') for not paying the admitted tax under the Act within time … filed the present writ application for quashing four orders dated 6th September, 2002 (Annexures 17 series) imposing penalty under Section 7(4) of the Bihar Tax … of T.S. Balaram, I.T.O. v. Volkart Brothers, reported in 82 I.T.R. 50, while dealing with the provisions under Section 154 of the Income Tax Act, 1961, which permitted rectification on the ground of mistake apparent from the record

Association For Democratics Reforms Vs. Union Of India

Court : Supreme Court of India

Subject : Right to Information

establishing the double proportionality standard ...................................................... 103 b) Validity of the Electoral Bond Scheme, Section 11 of the Finance Act and Section 137 of the Finance Act ..................................................... 113 c. Validity of Section 154 of the Finance Act … the intervening persons/entities will not be known. This would impact the principles of the Prevention of Money Laundering Act 2002; and 22 “KYC” 13 PART A c. The intention of introducing electoral bonds can be accomplished by cheque,

Aquarius Travels (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2008)111ITD53(Delhi)

it was submitted by the learned Counsel that the proviso to Section 14A which was introduced by the Finance Act, 2002 w.e.f. 11th May, 2001 provides that while completing the assessment relating to assessment year prior to asst.yr. 2001-02, … enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under Section 154, for any assessment year beginning on or before the 1st day of April, 2001.10.2 Sub-sections (2) and (3)

Harish Krishnakant Bhatt Vs. the Ito

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2004)91ITD311(Ahd.)

prohibiting the re-assessment or enhancement of assessment already completed. The Proviso to Section 14A is inserted by the Finance Act, 2002 with retrospective effect from 11-05-2001 to save certain completed actions otherwise. It reads as under: "Provide that nothing … enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under Section 154, for the assessment year beginning on or before the 1^st day of April 2001. He further submitted that

S.i.J. Chains (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

Reported in : (2006)100ITD379(Asr.)

out of brought forward business loss or unabsorbed depreciation, one is nil, nothing is deductible (substituted by the Finance Act, 2002 with effect from 1-4-1997). The Assessing Officer accordingly issued notice under Section 154 of the Income-tax Act and