Advanced Search Results

K. Sunil Kini Vs. Income Tax Officer, Ward 2(2),

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2006)6SOT139(Bang.)

was taxed as business income relying on clause (va) of section 28 inserted into the statute book by Finance Act, 2002, with effect from 1-4-2003.The Commissioner (Appeals), in the first appeal, had accepted the assessee's claim that the … that the receipt is liable to be taxed as capital gains in view of the amendment effected to section 55(2)(b) by Finance Act, 1997. He, accordingly, directed the assessing officer to compute capital gains as long-term capital gains.

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 … that if the income is chargeable to tax in India, then - 55 - only the assessee can have the benefit of tax credit in … …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

The Dy. Commissioner of Vs. Shri Bhim Singh Lather

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Land Acquisition

Reported in : (2006)282ITR151(Delhi)

to above were all before the introduction of Clause (c) Which was with effect from 1-4-2004 added by Finance Act, 2003, Explanatory notes where of are reported in 263 ITR 62 (St.) Circular No. 7 dated 5-9-2003 at page … of tenancy right is not liable to capital gains tax Under Section 55(2) since Section 55(2)(a) was substituted by Finance Act, 1994 with effect from … was deducted in that year.6. For the Asst. Years 1994-95 and 1995-96, the Assessing Officer issued notices Under Section 148 on 11th December, 1996 in response to which the assessee declared total income of Rs.56,026/- for Asst.

Deputy Commissioner of Income Tax Vs. Star Chemicals (Bom) (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2007)110TTJ(Mum.)753

the judgment of Hon'ble Supreme Court in the case of B.C. Srinivasa Setty (supra) the legislature by the Finance Act, 1987 introduced the provisions of Section 55(2) w.e.f. 1st April, 1988. The provisions of Section 55(2) as applicable … 1. As common issues are involved in these two appeals filed by the Revenue on 15th Dec, 2003 against the order of the learned CIT(A)-XXVIII, Mumbai dt. 16th Oct., 2003 in the case of the assessee

Jojo Kurian vs the Intelligence Officer

Court : Kerala

the appeals are the authorities which have been constituted under the provisions of the Kerala Value Added Tax Act, 2003. Section 55 does not limit the appeal provisions only in respect of the assessment order passed under the Kerala Value … are filed before the authorities constituted under the KVAT Act,2003. It is submitted that by way of Kerala Finance Act, 2010 Section55 of the KVAT Act was amended w.e.f. 01.04.2005 and for appeals, the Assistant Commissioner was made

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by Finance Act , 1986 Section115BB has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races … (5) Declare that Stake Money paid by the petitioner cannot be construed as winnings from games as per Section 194B of the Act. (6) Declare that the correct provision applicable in the present case is the Board … in the matter of ICDS v. CIT [2013] 350 ITR 527/212 Taxman 550/29 taxmann.com 129 wherein it has been held that provisions involved in the

The Commissioner of Income Tax Vs. HCL Infosystems Ltd.

Court : Delhi

Subject : Land Acquisition

the contention of the Assessee that the said capital receipt was not taxable. He held: "The amendment to Finance Act, 1997 also very clearly states that if the extinguishment of the capital right to manufacture is for consideration … right to carry on any businesswas inserted with effect from 1st April 2003. 36. That the above amendments were intended to be prospective, since there … ˜AO') noted that the compensation was indeed a capital income but held that it was nevertheless taxable under Section 55 (2) of the Act. The AO held that the extinguishment of these bundle of rights by termination of

Addl. Cit Vs. Kwality Frozen Foods Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Service Tax

Reported in : (2005)1SOT243(Mum.)

sale of trademark as such was brought into the provisions of section 55(2) through the amendment by the Finance Act, 2001. The said amendment brought in by the Finance Act, 2001 is effective only from assessment year 2002-03.

Home Solutions Retails (India) Ltd. Vs. Union of India and ors.

Court : Delhi

Subject : Constitution

Acts : Constitution of India - Articles 226, 246; Finance Act, 1995 - Section 65(105)(zzzz); Companies Act, 1956; Transfer of Property Act, 1882 - Section 105; Indian Easements Act

petitions preferred under Article 226 of the Constitution of India, the constitutional validity of Section 65(105)(zzzz) of the Finance Act, 1995 (for short „the 1995 Act) and Section 66 as amended by the Finance Act, 2010 (for brevity … on the legal principle of equivalence which now stands incorporated in the Constitution vide the Constitution (Eighty-eighth Amendment) Act, 2003. Further, it is important to note that "service tax" is a value added tax which, in turn, is … others v. The Buckingham and Carnatic Co. Ltd., Etc., 1969 (2) SCC 55, the challenge was to the Madras Urban Land Tax Act, 1966. A

M/s. Mascon Multiservices and Consultants Pvt. Ltd. Vs. Bharat Oman Re ...

Court : Mumbai

Subject : Land Acquisition

(2009) 8 SCC 520, Mussafar Shah Vs. MMTC 83 2000 Delhi LT 514 and Saurabh Kalani Vs. Tata Finance Ltd. 2003(3) Arb.LR 345 (Bom) (DB)) 201. Hence the petitioner must show special bias in this claim. The … of the amount specified in Clause 18 cannot be claimed by the respondent. 77. The petitioner relies upon section 55 of the Indian Contract Act relating to time being of the essence or not of the essence of