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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

Commissioner of Income Tax -xiii Vs. Rajinder Kumar

Court : Delhi

Subject : Direct Taxation

The assessee was asked to explain why disallowance should not be made under Section 40(a)(ia) as amended by Finance Act, 2008 with retrospective effect from 1st April, 2005. The assessee filed written submissions that they had not claimed … the assessment order itself that the assessee is following cash system of accounting.4. The assessment year involved is 2007-2008.5. The Assessing Officer referred to the TDS payable account for professional payments as on 31st March, 2007 and … Mr.Nizamuddin that this court needs to take decision as to whether section 40A(ia) is having retrospective operation or not. The learned Tribunal on fact found

income-tax Officer Vs. Kenaram Saha and Subhash Saha and

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (2008)301ITR171(Kol.)

at great length. His arguments/submissions can be summarized as follows: 2. That Section 40A(3) was introduced by the Finance Act, 1968, with effect from April 1, 1968. In the memorandum explaining the provisions in the Finance Bill, 1968, … upheld the order of the Income-tax Appellate Tribunal in I. T. A. No.386/K/07 vide order dated June 21, 2007. Copies of the aforesaid orders were furnished before us.15. Coming to the specific facts of the case, Sri

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- … transaction of brand building for the foreign AE. Interplay amongst sections 37(1), 40A(2) and 92 16.1. The ld. AR argued that the AMP expenses incurred

Rotork Controls India (P) Ltd. Vs. Commissioner of Income Tax, Chennai

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30 to 39, 40A(1), 40A(7) and 145; Companies Act; Finance Act, 1975; Income Tax Act, 1922 - Sections 10(2)

Reported in : (2009)223CTR(SC)425; [2009]314ITR62(SC); JT2009(6)SC637; 2009(7)SCALE456; [2009]180TAXMAN422(SC); 2009AIRSCW4902

the High Court was affirmed by this Court. It was held that Section 40A(7) which stood inserted by Finance Act, 1975 w.e.f. 1.4.73 has been given an overriding effect over Section 28 as well as Section 37 of … not have interfered with the decision of the Tribunal allowing claim of assessee under Section 37 of Income-tax Act. [(2007) 293 ITR 311 (Mad.), Reversed]. - It was held by the Tribunal that right from the assessment year

Sony Ericsson Mobile Communications India Pvt. Ltd Vs. Commissioner of ...

Court : Delhi

Subject : MRTP

the Assessing Officer, having regard to retrospective amendment to Section 92CA of the Income Tax Act, 1961 by Finance Act, 2012.2. Whether AMP Expenses incurred by the assessee in India can be treated and categorized as an international … Communications India 2006-07 2008-09 521/2013 92/2014 Canon India Pvt. Ltd Daikin Air Conditioning (India) Pvt. Ltd 132/2014 214/2014 2007-08 2008-09 2006-07 2007-08 2008-09 2007-08 2008-09 93/2014 99/2014 100/2014 101/2014 109/2014 512/2014 513/2014 Daikin Air Conditioning (India) Pvt. … matter of adjustment or disallowance under Section 37(1) of the Act.55. Section 40A(2) clause (b) is a provision for computing arm‘s length price in case

Yoshio Kubo Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

virtue of Section 10(10CC), introduced and brought into force in the Statute with effect from 01.04.2002 by the Finance Act, 2003, they were not liable to pay tax on such amounts which constituted the income tax component paid … it was urged that for this purpose, the Court would have to consider the provisions under Section 17(2); Section 40A(5); Section 192(1A), Section 195, Section 195(1A) and Section 198. On an overall consideration of these provisions, it was

The Commissioner of Income Tax Vs. Pricol Limited

Court : Chennai

Subject : Direct Taxation

(1969) 73 ITR53(Metal Box Company of India Ltd. v. Their Workmen), the provision under Section 40A(9), inserted by Finance Act, 1984 with reference to 01.4.1980, would stare at the assessee for making any claim as deduction. He submitted … Dated:01. 04.2014 Coram The Honourable Mrs.JUSTICE CHITRA VENKATARAMAN and The Honourable Mr.JUSTICE T.S.SIVAGNANAM Tax Case (Appeal) No.343 of 2007 The Commissioner of Income tax Coimbatore. .... Appellant Vs. M/s.PRICOL Limited (Premier Instruments & Controls Limited) 1087-A, Avanashi

Mohan Singh Oberoi and Prithvi Raj Singh Oberoi Vs. Income Tax Officer ...

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 2(24), 17(2), 40A(5) and 148; ;Finance Act, 1985; ;Taxation Laws (Amendment) Act, 1984

Reported in : (2007)213TTJ(Cal)484

Matched in: Citation (2007)213TTJ(Cal)484

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, … were made to associated concerns which fell in the category of Section 40A(2)(b) which expenses were allowed by the Assessing Officer without calling for the