Advanced Search Results

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 … in which deduction would be admissible for the increased liability under Section 37(1).12. We quote hereinbelow Section 28(i), Section 29 Section 37(1) and Section 145 of the 1961 Act, which read as follows:Profits and gains of business or

Smt. Sudama Devi Vs. State of Bihar and ors.

Court : Patna

Subject : Motor Vehicles

Acts : Bihar Motor Vehicles Taxation Act, 1994 - Sections 2, 5 and 7; Bihar Finance Act, 2002; Motor Vehicles Act, 1988 - Sections 2(11), 2(14), 2(22), 2(26), 2(29), 2(33), 2(35), 2(47) and 41(4)

of vehicles ranging from personalised vehicle to transport vehicle. The Taxation Act including Schedules were amended by Bihar Finance Act 11 of 2002 and Schedule II contains a provision with regard to additional motor vehicles tax on transport … by the petitioner is omnibus. It is stated that the Taxation Act is within the legislative competence and Section 5 of the Taxation Act provides levy of tax and Section 7 provides for charges on different categories

Krishna Lifestyle Technologies Ltd. Vs. Union of India (Uoi) Through t ...

Court : Mumbai

Subject : Excise

Acts : Customs Act, 1962 - Sections 142; Central Excise Act, 1944 - Sections 11; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2005 - Sections 13(6) and 35; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002; Finance Act, 2004 - Sections 11; Central Boards of Revenue Act, 1963 - Sections 11D; Customs Act, 1862; Karnataka Land Revenue Act - Sections 158 and 190; Contract Act - Sections 176; Central Sales Tax Act - Sections 9; Transfer of Property Act, 1882 - Sections 100; State Financial Corporation Act, 1951 - Sections 29 and 29(2); Karnataka Sales Tax Act - Sections 15; State Corporation Act, 1951 - Sections 25; Income Tax Act - Sections 2(13); Bombay Sales Tax Act, 1959 - Se

Reported in : (2008)110BOMLR456; 2008BusLR314(Bom); 2008(125)ECC208; 2008(151)LC208(Bombay); 2008(229)ELT173(Bom); 2009[16]STR669

issues, it would be necessary to reproduce Section 11 along with the proviso which was inserted by the Finance Act No. 2 of 2004 to the Central Excise Act, 1944 and which reads as under:11. Recovery of sums … takes place under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 4. Does the mere purchase of the immovable/movable assets of a tax defaulter amount to transfer or disposal … India (supra). In that case the assets of M/s. Diamond Marbles Pvt. Ltd. were sold in terms of Section 29 of the State Financial Corporation Act, 1951. There also the liability was in respect of excise dues. Section

Smt. Jyoti M. Bhandari Vs. Asstt Cit

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)6SOT375(Ahd.)

relied upon by the assessees are prior to the amendment by the Finance (No. 2) Act, 1998 and Finance Act, 2002 with retrospective effect from 1-7-1995. The Explanation which the assessees relied upon was inserted by Finance (No. 2) … the assessees ultimately filed the returns of income on 2-12-1997 with barely 29 days left before the expiry date within which the return was to … These two appeals by two assessees are against the orders of assessing officer passed under section 158BD read with section 158BC of the Income Tax Act, 1961 for the block period 1-4-1985 to 31-3-1995

Sun Star Future Wood Ltd. Through Bhanubhai G. Patel Vs. Authorised Of ...

Court : Gujarat

Subject : Property

Acts : State Financial Corporation Act, 1951 - Sections 13(2), 13(4), 13(9), 17 and 29; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002; Mandatory Provisions Act - Sections 13(9); Securitisation Act, 2002 - Sections 13(4) and 13(9); Security interest (enforcement) Rules 2002 - Rule 9

Reported in : AIR2008Guj79; 2008GLH(1)346; (2008)2GLR1659

Section 29 of the State Financial Corporation Act, 1951 which were jointly financed with respondent No. 1 having pari passu charge on the said assets … before proceeding with the auction under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred as to the 'Act') the creditor concerned must have consent of the creditors exceeding 75 percent … behalf of the petitioner that the property in question was already earlier in the possession of GIIC under Section 29 of the State Financial Corporation Act, and thereafter, GIIC has entrusted the possession to respondent Nos. 1 and

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 previous law retrospective operation is generally intended.In Keshavlal Jethalal Shah v. Mohanlal Bhagwandas this Court while interpreting Section 29(2) of the amending Act, held thus: AIR p. 1339, para 8 An explanatory Act is generally passed to

Manisha Construction Vs. the Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

proceedings as provided under the newly inserted Sub-clause (A) of Clause (c) of Section 158BB(1) inserted by the Finance Act, 2002 with retrospective effect from 1-7-1995.14. We have considered the rival contentions of both the parties and have carefully … been upheld by the Hon'ble Tribunal, Pune Bench 'A', Pune in ITA No. 201/PN/2004 vide its order dated 29-12-2006.24. Admitting the assessee's contention, for the sake of argument, that the seized books of accounts and documents did

Maharashtra State Electricity Board Vs. Maharashtra Electricity Regula ...

Court : Mumbai

Subject : Electricity

Acts : Electricity Regulatory Commission Act, 1998 - Sections 17(5), 27 and 29; Electricity (Supply) Act, 1948 - Sections 45, 49 and 59

Reported in : AIR2004Bom294; 2004(3)BomCR485

order dated 10th January, 2002 passed by the Maharashtra Electricity Regulation Commission (for short 'the Commission') passed under Section 29 of the Electricity Regulatory Commission Act, 1998 (for short 'ERC Act') determining and fixing the tariff for electrical … and the tariffs should have been so approved that there would be no recovered revenue gap in the finances of the Board. In our opinion, there can be no doubt that the affairs of Electricity Board are

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 … assessee himself. The learned assessing officer has given the example of page 10 of Annexure A-5 in para 29 of the impugned order. The statement of Shri Manohar Singh was also to the effect that the assessee

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 assessee himself. The learned AO has given the example of p. 10 of Annex. A-5 in para 29 of the impugned order. The statement of Shri Manohar Singh was also to the effect that the assessee