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Maxopp Investment Ltd and ors. Vs. Commissioner of Income Tax and ors.

Court : Delhi

Subject : Income Tax

Acts : Income Tax Act, 1961 - Sections 260A, 14A; Income Tax Rules, 1962 - Rule 8D; Finance Act, 2002

the total income?2. Whether the provisions of sub-section (2) and sub-section (3) of section 14A inserted by the Finance Act, 2006 with effect from 01/04/2007, would apply retrospectively to all pending proceedings?3. Whether Rule 8D inserted by the … proceedings?3. Whether Rule 8D inserted by the Income -tax (Fifth Amendment) Rules, 2008 with effect from 24/03/2008 was procedural in nature and hence would apply … enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of April, 2001."8. As a result of

Commissioner of Income-tax Vs. M.S. Aggarwal

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 113 and 154; Finance Act of 2002

Reported in : [2009]308ITR69(Delhi); [2009]178TAXMAN311(Delhi)

Tribunal took the view that the proviso inserted to Section 113 of the Income-tax Act, 1961, by the Finance Act of 2002, with effect from June 1, 2002, was prospective and that surcharge could only be levied in … the levy of surcharge was debatable when the Assessing Officer passed his order on June 11, 2003, under Section 154 of the said Act. Therefore, the Tribunal concluded that the rectification proceedings were not in order and consequently,

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

Court : Supreme Court of India

Subject : Land Acquisition

enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154, for any assessment year beginning on or before the Ist day of April, 2001.” 11 18. By Finance … 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 … He submits that Rule 8D was made applicable by Fifth Amendment Rules, 2008 providing in Clause 2 i.e. “they shall come into force from the

India Trade Promotion Organization Vs. Director General of Income Tax ...

Court : Delhi

Subject : Land Acquisition

Section 2(15) of the Income-tax Act, 1961 (hereinafter referred to as ‗the said Act‘) as amended by the Finance Act, 2008, on the ground that it is arbitrary and unreasonable and has no rational nexus with the object sought … The petitioner also seeks the quashing of the order dated 23.01.2013, which was passed by the respondent under Section 154 of the said Act in connection with the earlier order dated 23.02.2012, whereby exemption earlier granted under Section

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

Court : Delhi

Subject : Education

specifically recorded that though a prayer was made in the writ petition to declare 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. … this Court has wrongly placed reliance on the power of the Assessing Officer to rectify the assessment under Section 154 based on a retrospective amendment as permitting the action under Section 147 and to this extent the order

M/S.Srei Infrastructure Finance Ltd. Vs. Dy.Commissioner of Income Tax ...

Court : Kolkata

Subject : Direct Taxation

Sub-section 1, the second proviso to Sub-section 3; Sub-section 11 and Sub-section 12 of Section 2 of the Finance Act, 2008, which provides as follows:“(1) Subject to the provisions of sub-section (2) and (3).for the assessment year commencing on … a result of an order under sub-section (1) of subsection (3) of section 143, section 144, section 147, section 154, section 155, sub-section (4) of section 245D, section 250, section 254, section 260, section 262, section 263 or

Commissioner of Income Tax Vs. Aimil Limited

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 28, 36(1), 43B and 139(1); Finance Act, 2003; Employees' State Insurance Act, 1948; Constitution of India - Article 141

Reported in : (2010)229CTR(Del)418

Matched in: Advocate Prem Lata Bansal and; Paras Chaudhry, Advs. in ITA No. 1063/2008,; Rakesh Gupta and ; Poonam Ahuja, Advs. in ITA Nos. 1063/2008 and 204/2009, ;

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 … 2007, 969 of 2007, 989 of 2007, 1350 of 2007, 546 of 2008, 701 of 2008, and 893 of 2008. Question B has been framed … the Tribunal was correct in law in holding that rectification could not be made by the AO under Section 154 of the IT Act, 1961 as the issue regarding charging of interest under Section 234B of the Act

Miss. Lopamudra Misra Vs. Assistant Commissioner of Income Tax and ors ...

Court : Orissa

Subject : Direct Taxation

Reported in : 2009(I)OLR844

and that the effect of amendment to Section 2(24)(ix) where an explanation was added, vide Explanation-ii by the Finance Act, 2001, came into effect only on 1.4.2002 for the first time, bringing the receipts from T.V. shows within … by way of filing the writ petition in W.P.(C) No. 3226 of 2008 before this Court, which came to be allowed by judgment and order … quantum of income. It appears that while Income Tax Department also filed two appeals before the ITAT under Section 154 and the same were numbered as ITA Nos. 359 and 472 (CTK) of 2003 and also on the

Canoro Resources Limited Vs. Director of Income-tax (internat Ional Ta ...

Court : Authority for Advance Rulings

Subject : Land Acquisition

applicable to every firm is 30 per cent as per paragraph (c) of the First Schedule of the Finance Act, 2008. 10. 10.1 It is the common stand of both - the applicant and the Revenue, that the nature … Mr. A. Sinha M/s Canoro Resources Ltd. has filed this application under section 245Q(1) of the Income-tax Act, 1961 (the Act). The applicant is a foreign company, registered in Canada. 2.