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Sedco Forex International Inc. Vs. Commissioner of Income Tax

Court : Uttaranchal

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 28 to 41, 42, 43, 43A, 44BB, 44D, 90, 90(1), 115A, 244BB, 260A and 293A; Finance Act, 1987; Finance Act, 2003 - Sections 44AA, 44AA(2), 44AB, 44BB, 44BB(2), 44BB(3), 143 and 143(3)

Reported in : (2005)198CTR(Uttranchal)364; [2005]279ITR1(Uttaranchal)

mineral oils outside India.'The following Sub-Section (3) shall be inserted after Sub-section (2) of Section 44BB by the Finance Act, 2003, w.e.f. 1st April, 2004 :'(3) Notwithstanding anything contained in Sub-section (1), an assessee may claim lower profits and … of business or professionl :Provided that this Sub-section shall not apply in a case where the provisions of Section 42 or Section 44D or Section 115A or Section 293A apply for the purposes of computing profits or gains

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 … Counsel for the revenue as well as the assessee, we find statutory definition of slump sale in Sub-section 42-C of Section 2 of the Act only with effect from 1-4-2000, as inserted by the Finance Act 1999

M/S Wipro Limited Vs. The Deputy Commissioner of Income Tax

Court : Karnataka

Subject : Direct Taxation

of income tax in both the countries was sine qua non. However, by the amendment made by the Finance Act 2003, the benefit of granting the relief was extended to even in respect of income tax chargeable under the … and under the corresponding law in force in that country, etc - 42 - In order to encourage international trade and commerce, it is proposed … …RESPONDENT (By Sri E.R.Indrakumar, Senior Counsel for Sri K.V.Aravind, Adv.) - 2 - This I.T.A. is filed under Section 260-A of I.T.Act, 1961 arising out of order dated 30.05.2008 passed in ITA No.468/BNG/2006, for the assessment year

Gujarat State Electricity Vs. Gujarat Electricity Regulatory

Court : Appellate Tribunal for Electricity APTEL

Subject : Land Acquisition

Reported in : (2006)LCAPTEL1066

plan in advance and should be in a position to supply power as demanded from time to time. Section 42, 43 of the Electricity Act 2003 also should not be lost sight of. To meet the ever increasing … 1948, was generating and distributing power in the State of Gujarat. The Gujarat Electricity Industry (Reorganization & Regulations) Act, 2003 enacted by the Gujarat State Legislature for Restructuring of Power Sector in the said state including, reorganization of … Respondent Regulatory Commission disallowed various claims resulting in substantial impact on the finances of the Appellant apart from declining to relax the claim as sought

Mcdowell and Co. Ltd. Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

Subject : Service Tax

on the date of issue of Show Cause Notices and also after its amendment (with retrospective effect) by Finance Act, 2003 will not cover such users availing services of Goods Transport Operators during the aforesaid period. The demands have … the Goods Transport Operators in relation to the carriage/transportation of goods was imposed in the Finance Act, 1977.vide Section 65(17) w.e.f. 16.11.1997. The levy of service tax on the textile services rendered by the Goods Transport Operators … 1.6.1998. It is contended that the provisions of the said Notification No. 42/97 dated 5.11.1997 (wherein the levy of Service Tax was transferred to the

M/S Ws Retail Services Private Limited Vs. The State of Karnataka

Court : Karnataka

Subject : Land Acquisition

dealt with a similar controversy under ‘Kar Vivad Samadhan Scheme, 1998’, under Income Tax law announced in the Finance Act, 1998 and the Court held that any payments made towards tax arrears after the date of assessment and … DENIED TO THE PETITIONER THE BENEFIT OF WAIVER OF PENALTY AND INTEREST PAYABLE UNDER KARNATAKA VALUE ADDED TAX ACT, 2003 TO THE EXTENT OF90 GRANTED IN THE KARASAMADHANA SCHEME, 2017 FOR THE YEAR200809 AND DEMANDING ADDITIONAL AMOUNT OF … them to avail the benefit of ‘KSS2017. The Department, on the other hand, contends that by virtue of Section 42(6) of the KVAT Act, 2003, they are entitled to adjust these payments or deposits subject to appeals against

M/S. Shreeji Shipping Vs. C.C.E. and S.T. Rajkot

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Ahmedabad

Subject : Service Tax

liable to pay the differential service tax and demanded interest; imposed equivalent penalties under various sections of the Finance Act, 1994. 3. Ld. Counsel appearing on behalf of the appellant after taking us through the Order-in-original, made submissions … under Section 32(1) of the Gujarat Maritime Board Act, 1981. It is his submission that the provisions of Section 42 of the Major Port Trust Act cannot be equated to the provisions of the Section 32 of the … lighterage and local transportation services rendered within the port area. * In 2003-2004, Shreejis major income was shown under the Head lighterage and shore handling,

Aztec Software and Technology Vs. Acit

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2007)107ITD141(Bang.)

provisions of section 92CA was brought into the Income-tax Act by the Finance Act of 2002 w.e.f. 1.6.2002. Section 42 of the Finance Act, 2002 specifically mentions that section 92CA has been inserted w.e.f. from 1^st day of … manipulating prices charged or paid in international transactions, thereby eroding the country's tax base.4. Accordingly, legislative changes through Finance Act, 2001 and 2002 were made. It was provided in Section 92(1) that income arising from international transaction between … mind? 4. What is the legal effect of Instruction No. 2 of 2003 issued by the Central Board of Direct Taxes on Transfer Pricing proceedings?

Potlabathuni Srikanth and Others Vs. Shriram City Union Finance Limite ...

Court : Andhra Pradesh

Subject : Arbitration

Civil Judge, Mangalagiri, and respondent No.3 in A.O.P. No.374 of 2012. (b) The decree-holder viz., Shriram City Union Finance Limited, Mangalagiri Branch, through its authorized representative, filed A.O.P. No.374 of 2012 invoking the arbitration clause contained in … of the directions contained in the award, the Hon'ble Supreme Court held that Court for the purpose of Section 42 of the Act would be the High Court and not District Court ?. It would be appropriate to

Kalyani Steels Limited, Rep. by Vs. Karnataka Power Transmission

Court : Appellate Tribunal for Electricity APTEL

Subject : Electricity

Reported in : (2006)LCAPTEL895

is not liable to pay cross-subsidy surcharge as well as additional surcharge under Section 42(4) of the Electricity Act, 2003. In any event, the methodology adopted for determination of cross-subsidy surcharge by the Regulatory Commission is erroneous and … kV terminal bay extension and through a 7.25 km long 220 kV own transmission line.5. The Appellant has financed the entire 220 kV terminal bay extension and the 7.25 km long 220 kV transmission line to its