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The Pr. Commissioner of Income Tax, Vs. The Totagars Co-Operative Sale ...

Court : Karnataka Dharwad

Subject : Direct Taxation

Anr. Vs. The Totagars Co-Operative Sale Society, Sirsi. of the Act with effect from 01st April 2007 by Finance Act, 2006 excludes Co-operative Banks other than Primary Agricultural Credit Society or a Primary Co-Operative Agricultural and Rural Development Bank … on such deposits/securities, which strictly speaking accrues to the members' account, could be taxed as business income under Section 28 of the Act?. In our view, such interest income would come in the category of "Income from other

The Commissioner of Income Tax Vs. Earnest Exports Ltd.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 43A, 80HHC, 143(3), 254(2) and 263; ;Foreign Trade (Development and Regulation) Act, 1992; ;Imports and Exports (Control) Act, 1947; ;Finance Act, 1990 - Section 28; ;Imports (Control) Order, 1955

Reported in : (2010)230CTR(Bom)527,[2010]323ITR577(Bom)

Act, 1947 (18 of 1947). The CIT noted that Sub-clause (iiia) was inserted in Section 28 by the Finance Act of 1990 with retrospective effect from 1st April, 1962. Since Parliament had confined the ambit of the provision … 1961, the ITAT has by its order dated 15th January, 2007 recalled its earlier order dated 31st August, 2006 and set aside an order passed by the CIT under Section 263. The substantial question of law which

M/s. Oil and Natural Gas Corporation Limited Vs. M/s. Trichy Construct ...

Court : Chennai

Subject : Service Tax

Arbitral Tribunal is not vested with such a power by the contract. The statutory authorities constituted under the Finance Act, 1994 already concluded that the services rendered by the claimant to the appellant / ONGC would amount to … crude oil for a period of two years from 17.07.2006. In November 2006, ONGC had recovered a sum of Rs.3,62,255/- towards service tax from out … of patent illegality. Under patent illegality, there are three grounds (i) Contravention of the Substantive Law of India [Section 28(1) (a)]; (ii) Contravention of the Arbitration Act [Section 31 (3)] and (iii) Beyond the terms of the contract

Indian Oil Corporation Ltd. Vs. The State of Bihar

Court : Supreme Court of India

Subject : Land Acquisition

aforesaid judgment has been nullified by the addition of a third proviso to Section 3(2) by the Bihar Finance Act, 2006, which specifically provides that exempted goods will not be entitled to set off. For all these reasons, we … must be by the Appellant itself and not by the other OMCs. This becomes clear from the second 28 part of this provision which reads:“………. or sale of goods manufactured by consuming such imported scheduled goods………”18. Further,

M/S Idfc Limited vs the Asst Commissioiner of

Court : Chennai

included in the totalincome. Clause (23G) of Section 10 as it stood before it was omitted by the Finance Act, 2006 reads as follows:- “(23G) any income by way of dividends, other than dividends referred to in section 115-O, … out the matters in respect of which deductions can be allowed while computing the income referred to in Section 28. Clauses (i) to (xi) of sub-section(1) of Section 36 did not make any of those mattersdependent upon one

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)11TTJ(Mum.)502

inflating their claims in respect of head office expenses. With a view to getting over these difficulties, the Finance Act has inserted a new Section 44C in the IT Act laying down certain ceiling limits for the deduction … v. ITO 20 BCAJ 232 and a recent order dt. 24th Feb., 2006 of the Mumbai Bench of this Tribunal in Wockhardt Ltd. v. Asstt. … assessee according to the method of accounting regularly employed by him) in computing the income referred to in Section 28 of the previous year in which such sum is actually paid by him. It is submitted that in

Commissioner of Income Tax 5 Mumbai Vs. M/S. Essar Teleholdings Ltd. T ...

Court : Supreme Court of India

Subject : Land Acquisition

154, for any assessment year beginning on or before the Ist day of April, 2001.” 11 18. By Finance Act, 2006, Section 14A was numbered as sub­section (1) and after sub­section (1) sub­sections (2) and (3) were inserted w.e.f. 01.04.2007 … publication in the official gazette”. He submits that the Central Board of Direct Taxes vide its circular dated 28.12.2006 while explaining the substance of the provision of sub­sections (2) and (3) of Section 14A clearly mention that

Tonira Pharma Ltd. Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Service Tax

of introduction of Sub-section (2A) in Section 9A of the Customs Tariff Act. JA.1 Section 118 of the Finance Act, 2001 introduced Sub-section (2A) to Section 9A in Customs Tariff Act, 1975 which is reproduced below: (2A) Notwithstanding … photographs of empty drums shown by the appellants were taken in February 2006 does not in any way prove that repacking was ever done. The … Section 114A of the Customs Act can be imposed only when the demand is confirmed under proviso to Section 28 of the Customs Act. Appellants crave leave to refer to and rely upon the submissions made in the

Simplex Infrastructures Ltd. Vs. Commissioner of Service Tax, Kolkata

Court : Kolkata

Subject : Service Tax

service tax for the fiRs.time was introduced in India in the year 1994 under Chapter V of the Finance Act, 1994. It has been amended from time to time, inter alia, by introducing more categories of services within … Banerjee, J.: (1) In the instant writ petition, the petitioner challenges a show cause-cum-Demand Notice dated 21st April, 2006 demanding service tax of Rs.65.25 crores (approx.) for the period 1st October, 2000 to 31st March, 2005 and … civil engineering construction and was not ‘consulting engineer’ within the meaning of Section 65(11) of the Finance Act, 1994. (as amended by Finance Act, 1997).(6) … Mr.S.B. Saraf, Adv.Mrs.S.Mitra, Adv.Heard On : 15th July, 2015 CAV On : 28.08.2015 Judgment On : 07.04.2016 Arijit Banerjee, J.: (1) In the instant writ

Godrej and Boyce Mfg.Co.Ltd. Mumbai. Vs. Commissioner of Income Tax,

Court : Mumbai

Subject : Income Tax

Acts : Income Tax Act, 1961 - Section 14A(1)(2)(3); Income Tax Act, 1922 - Section 8; Finance Act of 2001 - Section 14A; Finance Act 1997 - Section 10(33)

form part of the total income under the Act. Section 14A was introduced by an amendment to the Finance Act of 2001 with retrospective effect from 1 April 1962. Subsections (2) and (3) were inserted by the Finance … correctness of the claim of the assessee having regard to the accounts of the assessee.11 Circular 14 of 2006 Section 115-O :27. The submission which has been urged on behalf of the assessee is that Section 14A has … amendment have been adverted to in a circular of the CBDT dated 28 December 2006.11 The circular notes that in the existing provisions of Section