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Tube Investments of India Limited Represented by Its Vice President, T ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 5, 9(1), 10A, 10A(1A), 10B, 28 to 43C, 43D, 44AC, 64, 72, 80, 80(IA), 80(IE), 143C, 145, 153, 192, 193, 194, 194A, 194C, 194C(1), 194D, 194G, 194H, 194I, 194J, 194LA, 195, 195(5), 195A, 197, 198, 199, 200, 200(1), 201, 201(1), 201(1A), 205, 206C, 221, 271C, 276B and 276BB; Hindu Women's Right to Property Act; Companies Act; Finance Act, 1983; Finance Act, 2007; Central Excises and Salt Act, 1944 - Sections 11D; Bombay Rents, Hotel and Lodging House Rates Control Act, 1947 - Sections 11(4); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13(4), 17 and 17(2); Andhra Pradesh Shops and Establishments Act, 1966 - Sections 47(3); Payment of Gratuity Act, 1972; Partnership Act, 1932 -

Reported in : (2009)226CTR(Mad)313; [2009]185TAXMAN438(Mad)

submission.87. The contention comparing Section 40(a)(ia) with the proviso to Section 40A(3)(b) of the Act as introduced through Finance Act, 2007, can have no relevance, in as much as in the first place, the two substantive provisions are not … where similar such benefit has been extended in respect of any person to whom Sections 192, 193, 194, 194A, 194C, 194D, 194G, 194H, 194I, 194J and 194LA including Section 195 applies. In the said provision also it

Coimbatore District Central Co-operative Bank Ltd. Vs. Income-tax Offi ...

Court : Chennai

Subject : Direct Taxation

no difference in the functioning of the co-operative banks and other commercial banks, the Finance Act, 2006 and Finance Act, 2007 amended the provisions of the Act to provide for co-operative banks a taxation regime which is similar to … on banking business with the approval of the Reserve Bank of India, is liable to deduct tax under Section 194A of the Income Tax Act, 1961 on the interest paid to its members?" 3. We are of the

Shri Jagannath Temple Managing Committee Vs. Commissioner of Income-ta ...

Court : Orissa

Subject : Trusts and SocietiesDirect Taxation

Reported in : AIR2008Ori37; (2008)218CTR(Ori)568; [2008]299ITR56(Orissa)

was allowed under Section 10(23BBA) of the Income-tax Act which was introduced in the year 1979 by the Finance Act with retrospective effect from 1st April, 1962.Section 10 of the Income-tax Act provides that in computing the total … issued notices to the bankers asking them to give show cause for non-deduction of taxes at source under Section 194A of the said Act on interest income for Term Deposit Receipts kept with them in the name of

m/s.karnataka Power Transmission Vs. The Deputy Commissioner Of

Court : Karnataka

Subject : Direct Taxation

to be read along with Section 201 of the Act. The provisions of Section 200 prior to the Finance Act, 2008 mandated that the amount of tax deducted should be paid to the credit of the Central Government … had no obligation to pay interest and consequently, had no 6 obligation to deduct tax at source under Section 194A of the Act.2. Whether in law, the Tribunal was justified in upholding the levy of tax u/S2011) and … 1961 (the ‘Act’ for short) relating to the assessment years 2005-06 to 2007-08.2. Facts in brief are: The appellant is an undertaking of the Government

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 … like Banking Regulation Act, 1949. (iii) The learned counsel for the Revenue further urged that the amendment of Section 194A(3)(v) of the Act by Finance Act, 2015 with effect from 01st June 2015 excluding the Co-operative Banks from

The Pr. Commissioner of Income Tax, Hubballi and Another Vs. The Totag ...

Court : Karnataka Dharwad

Subject : Direct Taxation

difference because sub-section (4) inserted in Section 80P(2)(d) 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 … like Banking Regulation Act, 1949. (iii) The learned counsel for the Revenue further urged that the amendment of Section 194A(3)(v) of the Act by Finance Act, 2015 with effect from 01st June 2015 excluding the Co-operative Banks from

Shri.Thomas George Muthoot Vs. The Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

not liable to deduct tax at source. However, by virtue of the proviso which was inserted by the Finance Act 2002, the benefit of exclusion is restricted only to those individuals and Hindu undivided families, whose total sales, … 3.We heard the senior Counsel for the appellants and the learned Senior Standing Counsel appearing for the Revenue.4. Section 194A (1) of the Act provides that any person, not being an individual or a Hindu undivided family, who … relation to the assessment orders passed for the assessment years 2006-07 and 2007-08. ITA Nos.282/14, 289/14 and 290/14 filed by Sri.Thomas Muthoot arise out of

Kanha Vanaspati Ltd. Vs. Additional Cit, Range-50

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

the head 'Discounting charges' in the books of account with the intention to avoid deduction at source under Section 194A of the Act. When this fact was confronted, Shri Amitabh Agarwal the director of the assessee-company, in his … on the ground that the funds so lent by the financiers to the assessee were nothing but short-term finances in the nature of loans and in consideration thereof the financial charges paid by the assessee to the

The New India Assurance Co. Ltd. Vs. Hussain Babulal Shaikh and Others

Court : Mumbai

Subject : Land Acquisition

(ixa) of sub-section (3) of Section 194A of the Income Tax Act (inserted with effect from 1.6.2015 by Finance Act,2015 substituting clause (ix)), the Division Bench however following the law laid down in the case of Smt.Hansagauri … following procedure as laid down in the case of Hansaguri Prafulchandra Ladhani, 2007 ACJ 1897 (Gujarat), shall be followed in the present case and in … and Rs.1,26,918/- towards the interest part, after deducting of tax at source (TDS) as per the provisions of Section 194A(3)(ix) of the Income Tax Act,1961. The TDS amount is already deposited with the Income Tax Authority and the

The Income-tax Officer, M/S. Sarvodaya Mutual Ward I(1) Vs. Benefit Tr ...

Court : Income Tax Appellate Tribunal ITAT Chennai

Subject : Direct Taxation

twenty to thirty in numbers, working in Tamil Nadu, are under the common umbrella of M/s.Sarvodaya Nano Banking Finance Company Limited (SNBFCL for short). SNBFCL is approved by the Reserve Bank of India for carrying out the … tax at source. The Assessing Officer held that the assessees are bound to deduct tax at source under section 194A of the Income-tax Act, 1961. But, tax was not deducted. The Assessing Officer, therefore, held that section 40(a)(ia) … a bunch of six appeals. Three appeals relate to the assessment year 2007-08. The remaining three appeals relate to the assessment year 2008-09. All the