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Commissioner of Income Tax Vs. Dlf Power Ltd.

Court : Delhi

Subject : ConstitutionDirect Taxation

Acts : Income Tax Act, 1961 - Sections 33B, 80A(2), 80IA, 115JA, 115JA(2), 115JB, 115JB(2), 143(3), 154, 155JB, 263 and 263(1); Finance Act, 2000; Companies Act; Finance Act, 2009; Finance Act, 2007; Constitution of India - Article 226

Reported in : (2010)229CTR(Del)27; [2009]185TAXMAN356(Delhi)

disallowed for calculating the book profits under Section 115JB of the Act.8. Section 115JB was inserted by the Finance Act, 2000 with effect from 1.4.2001. It is a special provision for payment of tax by certain companies. Since … was filed by the respondent/assessee on 30.10.2002 declaring a loss of Rs. 4,70,68,429/-. The assessment order under Section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the 'Act') was passed on 28.2.2005 and the

Moser Baer India Ltd. Vs. the Additional Commissioner of Income Tax an ...

Court : Delhi

Subject : Direct Taxation

Acts : Finance Act, 2007 - Sections 4A, 92CA, 92CA(2), 92CA(3), 92CA(4) and 143(3); Income Tax Act, 1922 - Sections 42(2); Income Tax Act, 1961 - Sections 92 to 92F, 220(2A), 246A, 250(4), 271AA and 271(1); Finance Act, 2001 - Sections 92; Finance Act, 2007; Assam Municipal Corporation Act - Sections 298; Imports and Exports (Control) Act, 1947 - Sections 4M(1); Municipal Act - Sections 298; Income Tax Rules, 1962 - Rules 10A and 10B, 10D, 10E and 46A; Constitution of India - Articles 226 and 227

Reported in : (2009)221CTR(Del)97; [2009]316ITR1(Delhi); [2009]176TAXMAN473(Delhi)

to be invariably complex. It was his submission that prior to the amendment brought about by virtue of Finance Act, 2007, w.e.f. 1.6.2000, the assessee was afforded an opportunity of presenting its case, both before the TPO, as well … was contended by Mr S. Ganesh, Sr Advocate appearing in writ petition No. 6974/2008, that the provisions of Section 92CA, Sub-section (3) mandate grant of an oral hearing, before the TPO makes a determination of ALP in … TPO have the colour and texture of a regular assessment under Section 143(3) of the Act. As a matter of fact, he contends that the

N. Meenakshi Vs. the Assistant Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10, 16A(1), 16A(2), 16A(3), 16A(4), 16A(5), 16A(6), 48, 50C, 50C(2), 55A, 69, 69A, 69B, 69C, 129, 142A, 142(2A), 143(3), 147, 153, 153(1), 153(3), 142, 245C, 245D(1), 245R(3), 245Q(1), 246A, 250, 254, 260, 262, 263 and 264; Indian Stamp Act - Sections 47A; Finance Act, 2006; Finance Act, 2007; Wealth-tax Act, 1957 - Sections 2, 16A, 23A, 24, 34AA, 35, 37 and 38A; Constitution of India - Articles 14 and 226

Reported in : (2009)226CTR(Mad)625

and the periods of limitation are varied by insertion through Finance Act, 2006 with effect from 1.6.2006 and Finance Act, 2007 with effect from 1.6.2007. However, Section 153(3) of the Act exempts the said period of limitation in certain … of the fact that the assessment has to be completed within a period of one year as per Section 143(3) of the Act, the impugned assessment order came to be passed without waiting for the valuation report.7. Section

Ester Industries Ltd. Vs. Union of India and ors.

Court : Delhi

Subject : Direct Taxation

the writ petition preferred under Article 226 of the Constitution of India including declaring certain provisions of the Finance Act, 2008 to be unconstitutional, yet in course of hearing Mr. R. Santhanam, learned counsel for the assessee-petitioner and … MR. JUSTICE R.V. EASWAR R.V. EASWAR, J.: In this writ petition, the petitioner challenges the notice issued under section 148 of the Income Tax Act, 1961 reopening the assessment issued on 6-3-2009 and seeks quashing of the … chips and film, to income-tax was first completed on 30-11-2006 under section 143(3) of the Act. It was sought to be reopened by issue of

M/S. L.G. Electronics India Private Limited Vs. the Asstt. Commissione ...

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

called `the Act') has undergone certain changes. He referred to sub-section (2A) of section 92CA, inserted by the Finance Act 2011 w.e.f. 1-6-2011, as per which, where any other international transaction, apart from those referred to under sub- … it is only academic in so far as we are concerned with the present appeal involving the A.Y. 2007-08, which is a period anterior to A.Y. 2012-13. The extant case is fully and directly covered under sub- … to directions given by the DRP, the ld. AO passed order u/s 143(3) read with sec. 144C on 31.10.2011 making additions, inter alia, of Rs.182.71

M/S. Shriniwas Machine Craft Pvt. Ltd. Vs. the Income Tax Settlement C ...

Court : Mumbai

Subject : Direct Taxation

7 March 2013. c) The CBDT Circular No. 3/2008 dated 12 March 2008 while explaining the provisions of Finance Act 2007 specifically clarified that an assessment proceeding before the Assessing Officer would be considered pending proceedings even if the … the Assessing Officer would be considered pending proceedings even if the time limit to issue a notice under Section 143(2) of the Act for finalizing assessment under Section 143(3) of the Act has expired. Further, it is clarified

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 … submitted that Expln. 1 after Section 234(1) defines the term 'assessed tax' to mean the tax determined under Section 143(1) or upon a regular assessment as reduced by the tax deducted at source (TDS). The said Expln. 1,

Ashoka Buildcon Ltd. Vs. Asstt. Commissioner of Income Tax and Commiss ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1), 40A(2), 72A, 143(3), 147, 148, 148(2), 263, 263(1) and 263(2); ;Companies Act, 1956 - Sections 391 to 394; ;Finance Act

subsequently in the course of the proceedings under the Section. Explanation 3 which has been inserted by the Finance Act (No. 2) of 2009 with retrospective effect from 1 April, 1989 provides that for the purpose of assessment … passed an order of assessment under Section 143(3). The assessment was sought to be reopened on 6 March 2007. The basis on which the assessment was sought to be reopened was that the benefit of Section 72A,

Rohit Kumar Gupta vs.principal Commissioner of Income Tax Central -Ii, ...

Court : Delhi

Subject : Direct Taxation

with the limitation in such case of abatement was the further proviso to Section 153 inserted by the Finance Act, 2007 and applicable from 1st June 2007. The legislative intent was clear from the explanatory notes to the above … 1961 (Act) as well as to the notices dated 6th April, 2017 in respect of assessment proceedings under Section 143(3) read with Section 153A of the Act for the Assessment Years (AYs) 2009- 2010, 2010-2011 and 2011-2012 issued

Prg Consultants Private Limited vs.principal Commissioner of Income Ta ...

Court : Delhi

Subject : Direct Taxation

with the limitation in such case of abatement was the further proviso to Section 153 inserted by the Finance Act, 2007 and applicable from 1st June 2007. The legislative intent was clear from the explanatory notes to the above … 1961 (Act) as well as to the notices dated 6th April, 2017 in respect of assessment proceedings under Section 143(3) read with Section 153A of the Act for the Assessment Years (AYs) 2009- 2010, 2010-2011 and 2011-2012 issued