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The Commissioner of Income Tax Vs. Chemplast Sanmar Limited

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 50, 90, 90A, 115JA(1), 115JAA, 115JAA(4), 115JAA(5), 115JB, 139(1), 140A, 143(1), 208, 209, 210, 234A, 234B, 234B(1), 234B(2), 234C, 234C(1), 295 and 295(2); Finance Act, 2006; General Clauses Act, 1897 - Sections 20; Land Reforms Act; Income Tax (19th Amendment) Rules, 2001; Income Tax Rules, 1962 - Rules 5 and 12(1)

Reported in : (2009)224CTR(Mad)211; [2009]314ITR231(Mad); [2009]180TAXMAN335(Mad)

Matched in: Advocate Pushya Sitaraman, Sr. Standing Counsel assisted by J. Narayanasamy, Adv. Venkatnarayanan, Adv. in T.C. Nos. 887/04, 2246, 2277, 2323, 2606, 2615 and 2656 of 2006, 10, 410, 717 and 1006 to 1008 of 2007 and 81 to 84, 245, 356, 543 and 578 of 2008, ;N. Quadin Hoseyn, Adv. in

Commissioner of Income Tax Vs. Jindal Exports Ltd. and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(1), 2(43), 16(3), 24(2), 90, 90A, 91, 115J, 115JA, 115JA(1), 115JAA, 115JAA(1), 115JAA(2), 115JAA(4), 115JAA(5), 119, 139, 140A, 140A(1), 142, 143, 143(1), 144, 147, 148, 154, 155, 158BC, 207, 208, 209, 209(1), 210, 215(2), 234A, 234B, 234B(1), 234B(2), 234C, 234C(1), 245D(4), 245D(6), 250, 254, 260, 262, 263 and 264; Finance Act, 2006; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 1997; Finance (No. 2) Act, 1996

Reported in : (2009)221CTR(Del)8; [2009]314ITR137(Delhi); [2009]179TAXMAN391(Delhi)

Section 234C(1) of the IT Act, 1961 (hereinafter referred to as 'the said Act') by virtue of the Finance Act, 2006, w.e.f. 1st April, 2007. According to the learned Counsel for the appellant/Revenue, after the said amendments, there is … deals with collection and recovery. Chapter XVII-F deals with interest chargeable in certain cases. Section 234B along with Section 234A and Section 234C were inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1st April, 1989. It

The Commissioner of Income Tax Vs. Synthite Industrial Chemicals Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act - Sections 115JAA, 140A, 234A, 234B, 234C and 263; ;Finance Act, 2006

Ltd. : (2009) 314 I.T.R. 231, which are rendered based on later amendment introduced to Section 234B by Finance Act 2006 with effect from 1.4.2007. It is seen that corresponding amendment is made to Section 234A also, so that

Jai UshIn Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2008)117TTJ(Delhi)330

as amended by the Finance (No. 2) Act, 1996 with effect from 1-4-1997 were again amended by the Finance Act, 2001 with effect from 1-4-2002 whereby the position as it existed prior to 1-4-1997 was restored.7. In the … raised in ground No. 2 relating to charging of interest under Sections 234A, 234B, 234C and 234D are merely consequential in nature as agreed by … appeal by the assessee is directed against the order of learned Commissioner -III, New Delhi dated 24th Aug., 2006.2. In ground No. 1, the assessee has challenged the action of the learned CITtA) in confirming the action … off against the income from house property as per the provisions of Section 32(2) amended with effect from 1-4-2002. As the said amended provisions of

M/S.Medical Land, Trichur Vs. Commissioner of Income Tax,kochi

Court : Kerala

Subject : Direct Taxation

be false" added to the definition of the undisclosed income vide Section 158B(b) of the Act by the Finance Act, 2002 with effect from 01/7/1995 which clinched the issue against the assessee. The Tribunal found that Chapter 14B … 32." It is thereafter that Section 158 BF reads as follows: "158BF. No interest under the provisions of section 234A, 234B or 234C or penalty under the provisions of clause ( c ) of sub-section (1) of section

FabIndia Overseas Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

counsel for the assessee pointed out that provisions of Sub-section (2) of Section 80HHC were amended by the Finance Act, 1990, with effect from 1-4-1991, by which the word "receivable" was replaced by the words "received in, or … (2005) 95 ITD 269. The Tribunal laid down a number of propositions regarding charging of interest under Sections 234A and 234B; (i) interest is mandatory in the sense that it cannot be reduced or waived by any

Sri Satyapal Wassan L/H Sri Naresh Vs. the A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Jabalpur

Subject : Direct Taxation

such notice within 12 months, the assessment will not be declared invalid. This amendment was introduced by the Finance Act, 2006 with retrospective effect from 1.10.1991. Even otherwise, our view that assessment cannot be annulled merely because notice under … Commissioner of Income-tax (Appeals)-II has properly adjudicated issues raised in ground No. 4 regarding charging of interest Under Section 234A and 234B in reassessment proceeding Under Section 148.The main grievance of the assessee is that the Ld. CIT

Director of Income Tax Vs. Ericsson A.B.,new Delhi

Court : Delhi

Subject : Direct Taxation

by him on 28th March, 2000 was also invalid. However, subsequent to this decision of the Tribunal, by Finance Act, 2006, the Legislature has added proviso in Section 142 (i) of the Act. The effect thereof is that an … order in this behalf. (v) Ground No.5 sought to challenge the A.O.s finding regarding charging of interest under Section 234A and 234B on the ground that the revenues were liable for tax deduction at source. This ground was

Dit-i, International Taxation Vs. Alcatel Lucent Usa, Inc.

Court : Delhi

Subject : Direct Taxation

case. He pointed out that under the aforesaid Explanation, as it stood both before being amended by the Finance Act, 2006 w. e. f. 01.04.2007 and thereafter, only the tax actually deducted at source is permitted to be deducted … the aforesaid income, the assessing officer also directed that interest under Sections 234A, 234B and 234C shall be charged. Demand notices were accordingly issued.6. Appeals … DURREZ AHMED HON’BLE MR JUSTICE R.V.EASWAR JUDGMENT R.V.EASWAR, J1 These are nine appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'). They are directed against the

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 … in the case of Commissioner of Income Tax v. Electric Control Gear 2006 ITR 1 (Bom), the decision of this Court in Syndicate Bank Ltd … 320 of 2004 vis-a-vis two questions relating to the liability of the assessee for payment of interest under Section 234A & B of the Act.26. Sri Shankar, learned Counsel for the assessee, for the purpose of contending that