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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

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

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 … under Section 115JAA against assessed tax for the purpose of determination of interest liability under Section 234B and Section 234C of the I.T. Act. In fact, in the course of completion of assessment, the assessing officer allowed set

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 … under Section 208 of the Act, the question of levy of interest either under Section 234B or under Section 234C of the Act also did not arise as the levy of interest under these two provisions of law

Joint Commissioner of Income-Tax Vs. Sumit Industries Ltd.

Court : Gujarat

Subject : Direct Taxation

where such shortfall is on account of increase in the rate of surcharge under section 2 of the Finance Act, 2000 (10 of 2000), as amended by the Taxation Laws (Amendment) Act, 2000 (1 of 2000), and the … K.J. Thaker, J. 1. The Tax Appeal No.676 of 2006 u/s.260A of the Income-tax Act, 1961 is filed against the judgment and order dated 29.09.2005 of the Income … Appellate Tribunal is right in deleting interest charged under Sections 234B and 234C of the Income Tax Act on the income charged to tax under

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 … the learned Assessing Officer erred in charging interest under Sections 234B and 234C of the Act.509. We have heard the parties. Since addition made by … AO for examining the veracity of evidence. The ld.D.R. also submitted that the addition can be made under Section 68 or under Section 69 of the Income-tax Act, 1961.6. Againsi this the Ld. A.R. of the assessee

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 assessing officer also directed that interest under Sections 234A, 234B and 234C shall be charged. Demand notices were accordingly issued.6. Appeals were taken by … 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

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 … 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 271 or section

Vesuvius India Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2008)116TTJ(Kol.)393

under: In the light of the decision of the Bombay High Court in the case of Kotak Mahindra Finance Ltd. (supra), and also the decision of the Karnataka High Court in the case of Dr. Section Reddappa … appeal filed by the assessee is directed against the order dt.22nd May, 2006 of the learned CIT(A)-XII, Kolkata relating to asst. yr.2003-04.2. The facts in … 143(1) of the IT Act, 1961 in which an amount of Rs. 21,18,571 was determined as interest under Section 234C of the IT Act, 1961. The said amount was calculated by considering in each of the four instalments

The Commissioner of Income Tax Vs. Anand Prakash

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 139(1), 139(8), 148, 208, 209, 215, 234A, 234B, 234C and 260A; Land Acquisition Act, 1894

Reported in : (2009)224CTR(Del)72; [2009]316ITR141(Delhi); [2009]179TAXMAN44(Delhi)

the Income Tax Act, 1961?3. These appeals pertain to two Assessees - Anand Prakash and Maha Maya General Finance Ltd. The appeals pertaining to the Assessee Anand Prakash arise out of the common order dated 20-04-2006 passed … time.12. Coming back to the present appeals, we are of the view that Section 234A, Section 234B and Section 234C are of the same class. On going through these provisions, it is clear that interest is sought to