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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 … X in the Act, the legislature has also inserted the following provisions in Chapter XXI. Explanation 7 to Section 271 has been inserted which provides that any assessee who has entered into an international transaction as defined in

Surendra M. Khandhar Vs. Assistant Commissioner of Income Tax and ors.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 69, 132, 132A, 132A(1), 132B, 132(4), 132(4A), 132(5), 133, 133A, and 271(1); Finance Act, 2007 - Sections 292C

Reported in : (2009)224CTR(Bom)409

the case of Metrani (supra), the IT Act has been amended and Section 292C has been inserted by Finance Act, 2007 w.e.f. 1st Oct., 1975. The effect of said amendment is that where the document is seized in the … the income of the assessee under Section 69 as unidentified investment. Penalty proceedings were also initiated under Section 271(1)(c).4. In the appeal memo filed before the CIT, in the statement of facts the following is set out:During

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

Secondary and Higher Education Cess on excisable goods leviable under section 136 read with section 138 of the Finance Act, 2007 (22 of 2007);(vii)(vii) the additional duty leviable under section 3 of Customs Tariff Act, equivalent to the duty

Cit Vs. Income Tax Settlement Commission and ors.

Court : Mumbai

Subject : Direct Taxation

Reported in : [2010]186TAXMAN186(Bom)

the Settlement Commission to have the case settled. Section 245D(1), as it stood before the amendment by the Finance Act, 2007 provided that on receipt of the application under Section 245C, the Settlement Commission shall call for the report … of the undisclosed income as required under Section 245C(1) and the huge income was concealed by them. Section 271(l)(c) provides that if the assessing officer is satisfied that any person has concealed particulars of the income or

Union of India (Uoi) and ors. Vs. Dharamendra Textile Processors and o ...

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 3A, 3A(3), 3A(4), 9, 11A, 11A(2), 11AB, 11AC and 15H; Central Excise Rules, 1944 - Rules 96ZO, 96ZQ, 96ZQ(5), 9620(3), 173Q, 173G(1) and 173G(4); Finance Act, 1996; Finance Act, 2000; Central Excise Tariff Act, 1985; Income Tax Act, 1961 - Sections 115O(2), 132, 132(4), 139, 139(1), 142(1), 142(2A), 143, 143(1), 143(2), 148, 153(1), 194B, 271, 271(1), 271B, 271C, 271F, 272(1), 272A and 276C; Securities and Exchange Board of India Act, 1992 - Sections 12B, 15A, 15B, 15C, 15D, 15E, 15F, 15G, 15H, 15I, 15J and 24; Forgien Exchange Regulation Act, 1947 - Sections 10, 10(1), 23, 23(1) and 37(1); Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 - Regulation 25(7); Induction Furnace Annual Capacity Determination Rules, 1997; Hot

Reported in : 2008(133)ECC247; 2008(159)LC247(SC); 2008(231)ELT3(SC); [2008]306ITR277(SC); JT2008(11)SC255; 2008(13)SCALE233; (2009)11VatReporter63; (2008)18VST180(SC); 2008AIRSCW8038

these appeals is whether Section 11AC of the Central Excise Act, 1944 (in short the `Act') inserted by Finance Act, 1996 with the intention of imposing mandatory penalty on persons who evaded payment of tax should be read … Dilip N. Shroff v. Joint Commissioner of Income Tax, Mumbai and Anr. 2007 (8) SCALE 304. The question which arises for determination in all these … bound to impose penalty equal to the duties so determined. The assessee on the other hand referred to Section 271(1)(c) of the Income Tax Act, 1961 (in short the `IT Act') taking the stand that Section 11AC of

Union of India (Uoi) and ors. Vs. MartIn Lottery Agencies Ltd.

Court : Supreme Court of India

Subject : Service Tax

Acts : Finance Act, 1994 - Sections 9(1), 65, 65(19), 65(50), 65(105), 66, 68 and 271; Finance Act, 2003 - Sections 65 and 65A; Finance Act, 2008; Finance Act, 1983; Lottery (Regulation) Act, 1998 - Sections 4; Sale of Goods Act, 1930 - Sections 2 and 2(7); Central Excise Act, 1944 - Sections 2; Income-tax Act - Sections 22; Constitution of India - Articles 19, 162, 245 and 246, 268A and 298

Reported in : (2009)223CTR(SC)321; JT2009(11)SC151; 2009(7)SCALE341(1); (2009)12SCC209; [2009]17STJ237(SC); 2009[14]STR593; [2009]20STT203; 2009(6)LC2739(SC); (2009)24VST1(SC); 2009AIRSCW5301; [2009] 7 SCR 946

tickets would be exigible to `Service Tax' within the meaning of the provisions of Section 65(105) of the Finance Act, 1994 (hereinafter called and referred to for the sake of brevity as `the Act') is the question involved … Systems Ltd. v. Commissioner of Income Tax, Delhi-I : [2007]289ITR83(SC) , a Bench of this Court has held:24. Section 271 of the Act is a penal provision and there are well-established principles for the interpretation of such a

Pr. Commissioner of Income Tax-19 vs.shri Ankur Aggarwal

Court : Delhi

Subject : Direct Taxation

part of the assessee to conceal his income. In order to remove the element of mens rea, the Finance Act, 1964 deleted the word “deliberately” that preceded the words “concealed the particulars of his income” in Section 271(1)(c). … It concluded that while the assessee had surrendered undisclosed income, the cash was seized during search in A.Y. 2007-2008, and not in the relevant assessment years under consideration. Therefore, the ITAT concluded that Explanation 5 to Section

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

Court : Supreme Court of India

Subject : Land Acquisition

be understood before correctly appreciating the nature and purport of Rule 8D. Section 14A was first inserted by Finance Act, 2001 with retrospective effect w.e.f. 01.04.1962. Section 14A as originally inserted reads as under:­ “14A. Expenditure incurred in … Court considered the amendments made by the Finance Act, 2002 to Section 271(1)(c)(iii) of the Act. This Court held that the Parliament clarified the position … and (3) of Section 14A clearly mention that the aforesaid provisions were to be applicable from assessment year 2007­2008 onwards. Hence, Rule 8D, which is framed to give effect to the provisions of sub­sections (2) and (3)

Pr. Commissioner of Income Tax-19 vs.shri Neeraj Jindal

Court : Delhi

Subject : Direct Taxation

part of the assessee to conceal his income. In order to remove the element of mens rea, the Finance Act, 1964 deleted the word “deliberately” that preceded the words “concealed the particulars of his income” in Section 271(1)(c). … It concluded that while the assessee had surrendered undisclosed income, the cash was seized during search in A.Y. 2007-2008, and not in the relevant assessment years under consideration. Therefore, the ITAT concluded that Explanation 5 to Section

C.i.T., Delhi Vs. Atul Mohan Bindal

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 143, 260A, 271(1) and 276; Industrial Dispute act, 1947; Central Excise Act, 1944 - Sections 10B, 10(10B), 11A, 11A(2), 11AC and 11C; Finance Act, 1996; Central Excise Rules, 1944 - Rules 96ZQ, 96ZQ(5), 96ZO and 173Q

Reported in : (2009)225CTR(SC)248; [2009]317ITR1(SC); JT2009(11)SC465; 2009(11)SCALE592; (2009)9SCC589; [2009]183TAXMAN444(SC); 2009(9)LC4172(SC)

these appeals is whether Section 11AC of the Central Excise Act, 1944 (in short the `Act') inserted by Finance Act 1996 with the intention of imposing mandatory penalty on persons who evaded payment of tax should be read … to have been approved by Supreme Court in Dilip N. Shroffv C.I.T., 2007 (6) SCC 329 - Legality Supreme Court in Union of India v … the assessee in the return and assessed the total income of assessee at Rs. 2,21,54,785/-. Penalty proceedings under Section 271(1)(c) were initiated separately and penalty of Rs. 7,75,211/- was imposed under Section 271(1)(c) by the Assessing Officer vide