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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) … of any benefit or perquisite taxable under Clause (iv) of Section 28;(vi) any capital gains chargeable under Section 45;(vii) the profits and gains of any business of insurance carried on by a mutual insurance company or by

K.R. Palanisamy and ors. Vs. Union of India (Uoi) and ors.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 10, 44BBB, 44AC, 44AD, 45, 48, 50(2), 50C, 50C(2), 50C(3), 52(2), 53, 54, 54B, 54E, 54EA, 54EB, 54F, 54G, 54H and 206C; Finance Act, 2002; Stamp Act, 1899 - Sections 47A, 47A(1), 47A(5), 47A(10) and 75; Wealth Tax Act, 1957 - Sections 2, 16A(1), 16A(2), 16A(3), 16A(4), 16A(5), 16A(6), 23A, 23A(1), 23A(6), 23A(7), 24(5), 34AA, 35 and 37; Registration Act, 1908; Stamp (Tamil Nadu Amendment) Act, 1967; Rajasthan Sales-tax Act - Sections 4A; Constitution of India - Articles 14, 246 and 265; Tamil Nadu Stamp (Prevention of Undervaluation of Instruments) Rules, 1968 - Rules 4 and 5

Reported in : (2008)219CTR(Mad)323; [2008]306ITR61(Mad); [2009]180TAXMAN253(Mad)

J.1. In all these cases, the constitutional validity of Section 50C of the IT Act, 1961 introduced by Finance Act, 2002 with effect from the asst. yr. 2003-04 is questioned.2. The grounds of attack and argument made for and … contentions of the parties, we are of the view that it is apropos to refer the statutory provisions. Section 45 of the IT Act reads as follows:Capital gains.-Any profits or gains arising from the transfer of a capital

Karvy Consultants Ltd. Vs. Asstt. Commr. of Cus. and C. Ex.

Court : Andhra Pradesh

Subject : Service Tax

Acts : Reserve Bank of India Act, 1934 - Sections 45, 45(1) and 45I; Finance Act, 1994 - Sections 65, 73(1), 75, 76, 77 and 78; Companies Act; Finance Act, 2001 - Sections 65(11), 65(73) and 65(90); Finance Act, 2002; Finance Act, 2004

Reported in : 2006[]STR7

Sub-clause (zp) was omitted by Finance Act of 2004 with effect from 10-9-2004.8. Sub-clause (zp) as incorporated by Finance Act, 2002 with effect from 16-8-2002 and Sub-clause (zm) as amended by Finance Act, 2004 with effect from 10-9-2004 read … deposits and advanced loans and was therefore required to lake a licence as a non-banking financial Company under Section 45 of the Reserve Bank of India Act. During the year 1997, the petitioner is said to have resolved

Commissioner of Income Tax Vs. Aditya Chemicals Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(a),2(24), 2(45), 3, 4, 4(1), 5, 6, 14, 22(1), 22(4), 23(1), 23(2), 34(2), 64, 72, 80, 139, 39(1), 139(2), 139(3), 148, 153(1), 260A, 271, 271(2) and 271A ; Finance Act, 2002; Income Tax Act, 1922 - Sections 2 and 28(1); Finance Act, 1988; Finance Act, 1951 - Sections 2(7)

Reported in : (2005)197CTR(Del)241; [2006]283ITR458(Delhi)

23(1), 23(2), 34(2), 64, 72, 80, 139, 39(1), 139(2), 139(3), 148, 153(1), 260A, 271, 271(2) and 271A ; Finance Act, 2002; Income Tax Act, 1922 - Sections 2 and 28(1); Finance Act, 1988; Finance Act, 1951 - Section 2(7)Cases

Commissioner of Income Tax Vs. Moser Baer India Limited

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 4, 5, 10A, 10B, 72, 260(A) and 271(1); Finance Act, 2002 - Sections 271

Reported in : (2007)213CTR(Del)64

levied.The Supreme Court went on to explain (ITR, p.106):Prior to the amendment made to Section 271 by the Finance Act, 2002, which came into operation on 1.4.2003, no penalty for concealment could be imposed unless some tax was payable

The Commissioner of Income Tax and Vs. Brindavan Beverages Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 2(19AA), 2(42C), 41[2], 45, 48, 50B, 80IA(4), 80IB(4), 80IB(5), 80HHC, 80HHC(3), 80HHC(3A), 80HHC(4), 80HHC(4A), 115A, 115B, 115BB, 115C, 115J, 115JA, 115JA[1], 115JA[2], 115JA[4], 115JB, 143(2), 161[1A], 164, 164A, 207, 208, 209, 209[1], 210, 211, 215, 234, 234A, 234B, 234C, 234G, 254(2) and 260A; Finance [No. 2] Act, 1996; Finance Act, 1997; Finance Act, 1998; Finance Act, 1999; Finance Act, 2000 - Sections 2; Companies Act, 1956 - Sections 210; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1) and 17(1); Constitution of India - Article 141

Reported in : (2010)228CTR(Kar)1; [2010]186TAXMAN233(Kar)

in reference to the provisions of Section 115JA of the Act is conspicuously absent in Part-III of the Finance Act providing for computing advance tax though mention is made of Sections 115A, 115B, 115BB, 115C of the Act … interest of Rs. 40,79.487/- for the period from June 2001 to March 2002 at 1.25%. The total tax liability was thus arrived at Rs. 4,98,10,058/- … asset that the expenditure incurred for effecting the transfer is not ascertainable and thereby the charging section i.e. Section 45 of the Act failing due to impossibility of computing the capital gains in terms of Section 48 of

Rajbhushan Omprakash Dixit vs.union of India & Anr

Court : Delhi

Subject : Land Acquisition

and the Union of India through the Department of Revenue, Ministry of Finance (Respondent No.1) to provide him a certified copy of ECIR/HQ/17/2017 dated 27th … B IPC. Since the offences were also those mentioned in the Schedule to the Prevention of Money Laundering Act, 2002 (PMLA), the DOE recorded an Enforcement Case Information Report (ECIR) being ECIR/HQ/15/2017 in relation to the offence of … it. W.P.(CRL) 363/2018 Page 4 of 32 11. The DOE on 23rd December 2017 filed a complaint under Section 45 PMLA before the learned Special Judge, PMLA with the prayer for further investigation. In the said complaint, cognizance

Malappuram District Parallel College Association and ors. Vs. Union of ...

Court : Kerala

Subject : Service TaxConstitution

Acts : Finance Act, 1994 - Sections 65, 65(27), 65(105), 66 and 69; Constitution of India - Article 14; Constitution (86th Amendment) Act, 2002 - Articles 21A, 41 and 45; Income Tax Act - Sections 10(22), 10(23C) and 11

Reported in : (2005)199CTR(Ker)453; 2006[2]STR321

tax treating parallel college as 'commercial training or coaching centre 'within the meaning of Section 65(27) of the Finance Act, 1994, hereinafter called the 'Act'. Individual notices issued to parallel colleges by the Central Excise Department demanding registration … any form is against the Constitution. They have referred to new Article 21A introduced by Constitution (86th Amendment) Act, 2002, which provides for free and compulsory education to children of the age of 6 to 14 years and … of the age of 6 to 14 years and the substituted Article 45 which requires the State to endeavour to provide early childhood care and

Maxopp Investment Ltd and ors. Vs. Commissioner of Income Tax and ors.

Court : Delhi

Subject : Income Tax

Acts : Income Tax Act, 1961 - Sections 260A, 14A; Income Tax Rules, 1962 - Rule 8D; Finance Act, 2002

to income which does not form part of the total income under this Act."7. By virtue of the Finance Act, 2002, the following proviso was inserted in section 14A and was deemed to have been inserted with effect from … law was as laid down by the Supreme Court in CIT v. Maharashtra Sugar Mills Ltd: 82 ITR 452 (SC) and Rajasthan State Warehousing Corporation v. CIT: 242 ITR 450 (SC). In Maharashtra sugar Mills Ltd (supra)

Sukh Ram Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2006)99ITD417(Delhi)

is quite wide. He also relied on the amendment made in Sub-section (1) of Section 158BB by the Finance Act, 2002 with retrospective effect from 1-7-1995 to contend that even 'such other material or information as are available with … here that a letter dated 18-8-1997 was filed by the assessee with the Assessing Officer (copy at pages 45 to 48 of the assessee's paper book) during the course of assessment proceedings. In the said letter, an