Advanced Search Results

Commissioner of Income-tax Vs. Parmanand M. Patel

Court : Gujarat

Subject : Direct Taxation

Acts : Delhi Sales Tax Act, 1975 - Sections 56; ;Marriage Act 1955 - Sections 15(2); ;Finance Act, 2002; ;Income Tax Act, 1922; ;Constitution of India - Article 141; ;Karnataka Sales Tax Act, 1957 - Sections 22A; ;Income Tax Act, 1961 - Sections 2(43), 139(1), 139(2), 142(2A), 143(3), 148, 256(1), 263, 271, 271(1), 271A, 271B, 272A(2), 274 and 275; Income Tax Act, 1922 - Sections 3, 3(1), 7, 12, 12(3), 12(4), 12B (4), 13, 18, 18A, 22A and 28

Reported in : (2005)198CTR(Guj)641; [2005]278ITR3(Guj)

the Act, etc. 6.3 Inviting attention to the amendment made to Section 271(1) of the Act by the Finance Act, 2002 it was submitted that the said provision as it originally stood granted powers only to the Assessing Officer … familiar one for a great many years (see for example Sec. 271 of the Income-tax Act, 1961 and Section 56 of the Delhi Sales-tax Act, 1975). The phrase Sis satisfied means simply makes up its mind [per Lord

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 … two different dates is taken into account. Section 145(1) enacts that for the purpose of Section 28 and Section 56 alone, income, profits and gains must be computed in accordance with the method of accounting regularly employed by

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 … Indore [1964] 54 ITR 461 and Mathurdas Govinddas v. G.N. Gadgil, Income-tax Officer, Special Investigation Office, Ahmedabad [1965] 56 ITR 621. Before we advert to the said arguments, it will be convenient to notice the relevant rules

Orissa State Financial Corporation Through Its Managing Director Vs. S ...

Court : Orissa

Subject : Contract

Reported in : AIR2008Ori119; [2008(4)JCR183]; 2008(I)OLR796; 2008(5)AIRKarR55(FB).

that the decision rendered and the ratio propounded in the case of 2002 Orissa (supra) is not correct. Accordingly the said decision is over-ruled. In … P.K. Tripathy, J.1. The dispute, is whether the Authorities under Section 56 of the Orissa Forest Act, 1972 (in short 'Act 1972') are obliged to release the vehicle from the … confiscation in favour of Orissa State Financial Corporation (in short 'O.S.F.C.') when such vehicle were purchased on being financed by the O.S.F.C. and the loan had not been liquidated by the date of the seizure/confiscation of the

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 … with inspection of documents by subscribers and Registrar. Section 43 to 55 deal with winding up of chitties. Section 56 to 59 deal with registration of office and fees. Section 60 to 72 are miscellaneous provisions. Kerala Chitties

K.c. Ninan Vs. Kerala State Electricity Board & Ors.

Court : Supreme Court of India

Subject : Land Acquisition

In that case, a three-judge Bench of this Court while dealing with agricultural loans extended by the Kerala Finance Corporation, held that since the Kerala Revenue Recovery Act does not create a new right, a person could … the enforcement of the 2003 Act.126. In its report dated 19 December 2002, the Standing Committee of Energy opined that the restriction for recovery of … billing of electricity charges and disconnection 6 “USO” 7 PART B of supply of electricity for non-payment. Under Section 56, the generating company or distribution licensee, as the case may be, may disconnect electricity supply of any person

Deputy Commissioner of Income Tax Vs. Ram Kumar Giri

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2006)103TTJ(Chennai)352

above clauses are outside the purview of the non-compete agreement entered by the assessee.11. The amendment in the Finance Act, 2002 proves that the above clauses are not applicable to the assessee's case and Section 28(va) is applicable with … In this regard we find that apex Court in CIT v.D.P. Sandu Bros. Chembur (P) Ltd. held that Section 56 provides for the chargeability of income of every kind only if it is not chargeable to income-tax under

Sunash Investment Co. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)106TTJ(Mum.)855

the object of introduction of Section 14A with the submission that Section 14A has been inserted by the Finance Act, 2001 with retrospective effect from the 1st day of April, 1962 to nullify the decision of the Supreme … were again clarified by the Board through their Circular No. 8 of 2002, dt. 27th Aug., 2002 (2002) 178 CTR (St) 9 : (2002) 258 … shares were acquired by the assessee in earlier year when-dividend was taxable under the head 'Other sources' under Section 56 and interest paid by the assessee has been claimed and allowed in earlier years as having been incurred

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96ITD1(Mum.)

of the provision could cause to the tax payers. Hence the proviso above mentioned was inserted by the Finance Act, 2002 with retrospective effect from 11-5-2002. It, therefore, meant that an assessment order already made could not be disturbed … Section 10(23D) also employed expression "income of mutual fund". The learned special counsel argued that the provisions of section 56(2)(i) would not, therefore, apply to an income received from a mutual fund in relation to any units of

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

of the provision could cause to the tax payers. Hence the proviso above mentioned was inserted by the Finance Act, 2002 with retrospective effect from 11th May, 2002.It, therefore, meant that an assessment order already made could not be … Section 10(23D) also employed expression "income of mutual fund". The learned special counsel argued that the provisions of Section 56(2)(i) would not, therefore, apply to an income received from a mutual fund in relation to any units of