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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)

respondent seeks to rely as is seemingly done in view of the amendment of Section 115JB effected by Finance Act, 2002 with retrospective effect from 1.4.2001 enabling him to levy such interest. The said amendment in so far as … are disposed of by this common order as they are involved common question of law.2. Writ Petition No. 5334/2003 is filed challenging the demand made by the respondent as per Annexure-C in so far as it relates

Virtual Soft Systems Ltd. Vs. Commissioner of Income Tax, Delhi-i

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28(1), 48, 143, 143(1), 143(1A), 260A, 271 and 271(1); Finance Act, 1975; Finance Act, 2002 - Sections 271; Taxation Laws (Amendment) Act, 1975; Finance Act, 1993; Finance Act, 1992; Finance Act, 1951; Income Tax Act, 1922 - Sections 23(5), 28 and 28(1); Constitution of India - Article 20(1)

Reported in : (2007)207CTR(SC)733; [2007]289ITR83(SC); JT2007(3)SC125; 2007(2)SCALE612; (2007)9SCC665

Elphinstone Spinning and Weaving Mills Company Ltd. : [1960]40ITR142(SC) . 11. Section 271(1)(c) was again amended by the Finance Act, 2002. Subsequent amendment was brought to the notice of the Bench hearing the Appeal. In the impugned order, the … assessed the appellant's income at a figure of Rs. 47,03,120.00. This was because:(i) Disallowance of claim of Rs. 57,51,520.00depreciation of purchase andlease of cinematographic filmsheld to be bogus(ii) Reduction of claim of Rs. 10,28,462.00depreciation in respect of

Agricultural Produce Market Committee, Narela, Delhi Vs. Commissioner ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1), 10, 10(20), 10(26AAB) and 260A; Finance Act, 2002; Cantonments Act, 1924 - Sections 3; General Clauses Act, 1897 - Sections 3(31); Delhi Agricultural Produce Marketing (Regulation) Act, 1998 - Sections 5, 22(1), 22(2), 62 65, 88, 88(1), 88(2) and 88(3); Delhi Development Act, 1957; Payment of Bonus Act, 1965 - Sections 32; Constitution of India (Seventy-third Amendment) Act, 1992; Constitution of India (Seventy-fourth Amendment) Act, 1992; Constitution of India - Articles 243, 243P, 243 and 243ZF

Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540

the 1961 Act prior to its amendment by Finance Act, 2002 w.e.f. 1.4.03.10. Prior to the amendment by Finance Act, 2002, Section 10(20) of the Income-tax Act, 1961 provided as under:CHAPTER IIIINCOME WHICH DO NOT FORM PART OF TOTAL INCOMEIncomes … next contended that in the hierarchy, mentioned in 1998 Act, the Delhi Agricultural Marketing Board, as defined under Section 5, is in complete control of the finances of AMC(s) and, therefore, according to learned Counsel, the clarification, issued

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 … Amendment vide Finance Act, 2002).Facts in M/s Woodward Governor India P. Ltd.[Civil Appeal arising out of SLP(C) No. 593/08]- REVENUE ACCOUNT CASE:5. The assessee filed its Return of Income on 28.1.1998 for the assessment year 1998-99 on

Commnr. of Income Tax-i, Ahmedabad Vs. Gold CoIn Health Food Pvt. Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 5(1), 72, 271 and 271(1); Finance Act, 2002; Wealth Tax Act - Sections 18

Reported in : (2008)218CTR(SC)359; [2008]304ITR308(SC); JT2008(9)SC312; 2008(11)SCALE492; (2008)9SCC622; 2008(2)LC1144(SC); 2008AIRSCW5841; 2008(6)Supreme1; 2008(11)SCALE492.; [2008] 12 SCR 179

income is a loss. This question has to be considered in the background of the amendment made by Finance Act, 2002 (in short `Finance Act') w.e.f. 1.4.2003 in Explanation 4 to Section 271(1)(c)(iii) of the Act. In Virtual's case … clarificatory in nature and consequentially it was applicable retrospectively. This argument was rejected by this Court in para 52 of the judgment. The Division Bench while making reference was of the view that the true effect of

Tata Sky Limited Vs. the State of Uttarakhand and ors.

Court : Uttaranchal

Subject : Company

Acts : Companies Act, 1956; ; Indian Telegraph Act, 1885 - Section 4; ; Indian Wireless Telegraphy Act, 1933; ; Uttar Pradesh Entertainment and Betting Tax Act, 1979 - Sections 2, 3, 4, 4A, 4A(4), 4B and 4C; ; Bombay Entertainments Duty Act, 1923; ; Uttar Pradesh Entertainment and Betting Tax (Amendment) Act, 2009; ; Finance Act, 2001 - Sections 65, 65(5), 65(13), 65(63), 65(72) and 137; ; Prasar Bharti (Broadcasting Corporation of India) Act, 1990 - Section 2; ; Finance Act, 2002 - Sections 65, 66(5), 65(14), 65(15), 65(80) and 65(90); ; Finance Act, 2003 - Section 65, 65(16), 65(95), 65(105) and 66(1); ; Finance Act, 2004; ; Finance Act, 2005 - Section 65(16) and 65(105); ; Government of India Act, 1935; ; Cable Television Networks (Regulation) Act, 1995; ; Bengal Amusements Tax Act, 1922; ; We

the gross amount charged by the service provider).19(ii). The term 'broadcasting' was re-defined under Section 65(14) of the Finance Act, 2002 as under:65. Definitions.- In this Chapter, unless the context otherwise requires,-(14). 'broadcasting' has the meaning assigned to it … the Entertainment Act, 1979, was impermissible in law.10. This Court, while disposing of Writ Petition (M/S) No. 3 53 of 2008, distinguished 'cable services' from 'Direct-to-Home services' by holding, that the technology used in the latter envisaged

Ajay Gupta Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 132, 132A, 132(5), 132B(4), 153A, 158BFA(2), 226 and 244A; Finance Act, 2002; Taxation Laws (Amendment) Act, 2003; Income Tax (Amendment) Act, 1965 - Sections 237, 238 and 244A; Finance Act, 2006; Taxation Laws (Amendment) Ordinance, 2003

Reported in : (2007)210CTR(Del)116; 2007(97)DRJ317; [2008]297ITR125(Delhi)

tax liability existing against such person. At that time, i.e. prior to the amendments brought about by the Finance Act 2002, Section 132B(4)(b) envisaged payment of simple interest at the rate of 15 per cent per annum on the retained … retained money computed 'from the date immediately following the expiry of six months from the Order under sub- section (5) of Section 132.' It is also worth emphasizing that seized assets for which a valid Explanationn has been

Vodafone International Holdings B.V., a Company Incorporated Under the ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 1(2), 2, 2(17), 2(23A), 2(31), 2(37), 2(47), 4, 4(1), 4(2), 5(2), 9, 9(1), 23(1), 23(3), 24, 26, 64, 64(2), 173, 191, 192(1A), 194, 194C(1), 195, 195(1), 195(2), 195(3), 197, 199, 200, 201, 203A, 221, 221(1), 201(1A), 245S, 246A and 271C; Foreign Contribution Regulation Act; Indian Official Secrets Act; Constitution Act; Information Technology Act; Indian Passport Act; Indian Income Tax Act, 1922 - Sections 18, 19 and 42; Finance Act, 2008; Indian Telegraph Act, 1885; MRTP Act - Sections 33; Finance Act, 2002 - Sections 201; Companies Act; Income Tax (Amendment) Act, 2008 - Sections 191 and 201; Income Tax (Amendment) Act, 2002; Income Tax (Amendment) Act, 2003; Income Tax Rules - Rules 30 and 31A, 41E; Constitution of India - Articles 14, 19(1

Reported in : 2009(4)BomCR258; (2008)220CTR(Bom)649; [2009]311ITR46(Bom)

which construed the provisions of Section 201 of the Act as they stood before the amendment of the Finance Act, 2002. Therefore, the same would not enable the Respondents to urge that after the 2002 amendments made in Section … two positions is reconciled by the statement found in British Columbia Electric Railway Co.Ltd. v. King (1946) AC 527 .A Legislature which passes a law having extra-territorial operation may find that what it has enacted cannot be

Dharmodayam Company Vs. Union of India (Uoi)

Court : Kerala

Subject : Civil

Acts : Kerala Chitties Act, 1975 - Sections 2(4), 3, 3(1), 3(2), 4, 4(1), 5, 6, 6(3), 11, 12, 13, 14, 15, 17, 18, 19, 21, 22, 23, 24, 25, 26, 29, 34, 35, 39, 40, 42, 43, 55, 56, 59, 60, 67, 72, 89 and 220; Kerala Finance Act, 2002; Chit Funds Act, 1982 - Sections 1(3), 2, 4(1), 7(3), 8, 9(1), 20 and 90; Constitution of India - Articles 14, 19(1), 226, 245 to 255; Companies Act; Finance Act, 2002 - Sections 3(5) and 4; Kerala Chittis (Amendment) Act, 2002

Reported in : AIR2005Ker253; [2005]126CompCas586(Ker); 2005(3)KLT332

constitutional validity of Sub-section 1(a) to Section 4 of the Kerala Chitties Act, 1975 introduced by the Kerala Finance Act, 2002 (Act 7 of 2002) with effect from 1.4.2002 as beyond the legislative competence of the State Legislature and … case no previous sanction as contemplated in Sub-section (1) shall be given. There is further restriction as per Sub-section (5) of Section 3, which says that if the Foreman is a Banking Company as defined in the Banking

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 … 4. In the present writ petition the petitioner is challenging the notice under Section 148 of the Act. 5. Heard Sri O.S. Bajpai, learned counsel for the petitioner, assisted by Sri Sujeet Kumar and Sri Shambhu Chopra,