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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 … Sub-section (3) of Section 32A or Clause (ii) of Sub-section (1) of Section 72 or Section 73 or Section 74 or Sub-section (3) of Section 74A.4) Every company to which this section applies, shall furnish a report in

Joint Commissioner of Income-tax Vs. Montgomery Emerging Markets Fund

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)100ITD217(Mum.)

Act, 1987.25. The learned Counsel further continued to explain that the said amendment was again undone by the Finance Act, 2002 with effect from assessment year 2003-04 onwards whereby the special treatment given to capital loss has been re-instated … amount of such loss set off against his income from any other source under the same head. Further, Section 74 of the Income-tax Act provides that a loss under the head 'capital gains' can be carried forward and

Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court : Supreme Court of India

Subject : Land Acquisition

may, by notification in the Official Gazette, specify in this behalf:26. Section 10(20A) and 10(23) were deleted/omitted by Finance Act, 2002, w.e.f. 01.04.2003. While both these provisions are not directly relevant for deciding the primary question (i.e., as to … Act, were considered by this court in the Gujarat Maritime Board case (supra). The decision discussed Sections 73, 74 & 75 of the GMB Act, which provide for management of all monies received by the GMB; and

Commr. of Income Tax Vs. Gujarat Maritime Board

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Gujarat Maritime Board Act, 1981 - Sections 3(2), 25, 26, 73, 74 and 75; General Clause Act, 1897 - Sections 3(31); Income Tax Act, 1961 - Sections 2(15), 10(20), 11, 11(1), 11(4), 11(16), 12A and 60 to 63; Finance Act, 2002; Gujarat Maritime Board Act, 1981; Indian Ports Act, 1903 - Sections 36; Banking Companies Acquisition and Transfer of Undertaking Act, 1970 - Sections 2; Public Trust Act

Reported in : (2008)214CTR(SC)81; [2007]295ITR561(SC); 2007(14)SCALE21; 2007AIRSCW7912; 2008(3)KCCRSN199

income of the Board was not eligible to income-tax under Section 10(20) or the Income-tax Act, 1961.3. By finance Act, 2002, an Explanation was added in Section 10(20) by which 'Local Authority' was defined. It gave a restricted meaning … to be utilized for development of minor ports within the State. In this connection, we quote Sections 73, 74 and 75 of the 1981 Act hereinbelow which read as under:73. All moneys received by or on behalf

Lason India Pvt. Ltd. (Formerly Vs. the Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

Reported in : (2008)301ITR306(Chennai)

Section 10B and not to the other business. He also submitted that Section 10B has been amended by Finance Act, 2002 w.e.f. 01-04-2003 and assessee is now entitled only to 90% of deduction and therefore the deduction available under … (ii) no loss referred to in Sub-section (1) of Section 72 or Sub-section (1) or Sub-section (3) of Section 74, in so far as such loss relates to the business of the undertaking, shall be carried forward or

The Authorised Officer Central Bank Of India Vs. Shanmugavelu

Court : Supreme Court of India

Subject : Land Acquisition

the appellant bank took measures under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, the “SARFAESI Act”), more particularly under Section 13(4) by taking over the possession of the Secured … 1872 (for short, “the 1872 Act”). The relevant observations are reproduced below: - Page 13 of 81 “10. Section 74 of the Contract Act, 1872 provides for compensation for breach of contract where the penalty is stipulated. Section … note of are that the banks and the financial institutions have heavily financed the petitioners and other industries. It is also a fact that a

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 assessee, which are as under: (a) Principal Officer, Builcon Towers (P) Ltd. v. ACIT (2000) 113 Taxman 74 (Cal.) There is however, another decision of the Delhi Bench of the Tribunal in Friends Overseas (P) Ltd.

Central Bank of India Vs. State of Kerala and ors.

Court : Supreme Court of India

Subject : Sales Tax/VAT

Acts : Bombay Sales Tax Act, 1959 - Sections 38C and 39; Kerala General Sales Tax Act, 1963 - Sections 2, 2(2) and 26B; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2, 2(1), 13(4), 13(10), 13(12), 11(2), 17, 17(1), 17(2), 17(5), 18, 19(1), 19(6), 19(7), 19(8), 19(12), 19(13), 19(18), 19(19), 20(1), 21, 22, 25, 28, 29, 31(1), 31A, 34(1), 36 and 37; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2004; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 3 to 12, 13, 13(1), 13(2), 13(3A), 13(4), 13(7), 13(9), 13(10), 13(12), 34(1), 35 and 38(1); Kerala Revenue Recovery Act, 1968 - Sectio

Reported in : [2010]153CompCas497(SC); JT2009(3)SC216; 2009(3)SCALE451; (2009)4SCC94; (2009)12VatReporter137; (2009)21VST505(SC); JT2009(1)SC216; [2009] 3 SCR 735

3 of the Essential Commodities Act, 1955 which is a Central legislation and Section 5(3) of the Bihar Finance Act, 1981 by which surcharge was levied on certain dealers engaged in selling drugs. While negating challenge to the … Act') for recovery of `debt' and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short `the Securitisation Act') for enforcement of `security interest' and whether by virtue of non obstante clauses … the Workmen's Compensation Act, 1923, Section 11(2) of the EPF Act, Section 74(1) of the Estate Duty Act, 1953, Section 25(2) of the Mines and

Indian National Shipowners Association Vs. Union of India (Uoi)

Court : Mumbai

Subject : Service Tax

Acts : Finance Act, 1994 - Sections 5(2), 64, 65, 65(105), 66, 66A, 68, 68(2), 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79 and 94; Companies Act, 1956 - Sections 25; Merchant Shipping Act, 1958; Territorial Waters, Continental Shelf, Exclusive Economic Zone, and other Maritime Zones Act, 1976 - Sections 6(6) and 7(7); Factories Act, 1948; Societies Registration Act, 1860; Central Excise Act, 1944; Finance Act, 2005; Finance Act, 2006; Service Tax Rules, 1994 - Rule 2 and 2(1); Central Excise Rules; Constitution of India - Article 265

Reported in : (2009)222CTR(Bom)234; [2009]16STJ175; 2009[13]STR235

Deshmukh, J.1. By this Petition the Petitioners challenge the constitutional validity of the following:(i) Section 66A of the Finance Act, 1994; (hereinafter referred to as the 'Act for the sake of brevity), which has been introduced with effect … in the prescribed manner a clear return. Sections 71, 72, 73 and 74 deal with the filing of the returns, provision for assessment, reopening of … 17th April, 2006; and(iii) Rule 2(1)(d)(iv) of the Service Tax Rules, 1994 inserted with effect from 16th August, 2002;2. On the basis of the above provisions the Respondents are seeking to levy and recover service tax from

Adarsh Ginning and Pressing Factory, a Partnership Firm Through Its Pa ...

Court : Mumbai

Subject : Trusts and Societies

Acts : Maharashtra Cooperative Societies Act, 1960 - Sections 91, 101 and 156; Multi State Cooperative Societies (Amendment) Act, 2002 - Sections 74, 84, 86, 126, 126(2) and 126(6); Multi State Cooperative Societies Act, 1984 - Sections 4(2), 18(5), 19, 29, 29(3), 34, 74, 75, 76, 85, 87, 88, 90 and 105; Industrial Disputes Act, 1947 - Sections 2 and 2(1); Arbitration and Conciliation Act, 1996; General Clauses Act, 1897; Co-operative Societies Act, 1912; Finance Assets and Enforcement of Security Interest (Second) Ordinance, 2002; Multi-State Co-operative Societies (Registration, Membership, Direction and Management Settlement of Disputes, Appeal and Revision) Rules, 1985 - Rules 4, 4(3), 10, 11, 11(3), 11(4), 11(5), 18, 25, 27 and 33; Multi unit Co-operative Societies Act, 1942; Civil P

Reported in : 2007(5)ALLMR364; 2007(5)BomCR618; (2007)109BOMLR1615; 2008(1)MhLj300

be without prejudice to its rights under the Securitisation and Reconstruction of Finance Assets and Enforcement of Security Interest (Second) Ordinance, 2002. It is made … as not maintainable as the proceedings could be entertained by the Cooperative Court in view of provisions of Section 74 of the Multi State Act, 2002 and the power vested with the Central Registrar, Cooperative Societies. 7. Before … application stating that respondent No. 4 Bank was governed by the provisions of the Multi State Cooperative Societies Act, 2002 (hereinafter referred to as, 'the Multi State Act, 2002') and, therefore, the proceedings can be filed only before