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Gilbs Computer Limited (Formerly Gold Fish Computers P. Ltd.) Under Co ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(45), 5, 33, 143(3), 249, 253, 253(A), 253(6), 256(2) and 260A; Taxation Laws (Amendment) Act, 1970; Finance Act, 1981; Finance (No. 2) Act, 1998; Finance Act, 1999; Bombay Court Fees Act, 1959

Reported in : (2009)226CTR(Bom)19; [2009]317ITR159(Bom); [2009]184TAXMAN342(Bom)

cases would include cases where the total income computed by the Assessing Officer is a negative figure.11. The Finance (No. 2) Act, 1998 once again amended Section 253(6) and it was provided that if the total income was less than Rs. … a memorandum of crossobjections referred to in subsection (4).9. The history of the provision may now be considered. Section 33 of the Indian Incometax, 1922 empowered an assessee aggrieved by an order passed by the Appellate Assistant Commissioner

Killick Nixson Limited Vs. the Dy. Commissioner of Income Tax and anr.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 142(1) and 143(3); Finance Act, 1998 - Sections 87, 88, 89, 90, 90(1), 90(3), 94 and 95

Reported in : (2001)165CTR(Bom)280; [2001]248ITR17(Bom)

under the Kar Vivad Samadhan Scheme (hereinafter, for the sake of brevity, referred to as 'K.V.S.S.') introduced by Finance (No. 2) Act, 1998 determining the total income of the assessee - petitioner at Rs. 33, 65, 298 = 00.? In short, … Court in this Writ Petition is : Whether the A. O. was authorised and empowered to proceed under Section 142(1) of the Income Tax Act in respect of assessment year 1992-1993 after the Designated Authority passed an

All India Federation of Tax Practitioners and ors. and Indian Institut ...

Court : Mumbai

Subject : Service Tax

Acts : Finance (No. 2) Act, 1998 - Sections 68 and 116; Constitution of India - Articles 14, 19, 19(1) and 246(1); Service Tax Rules, 1994 - Rule 6 and 6(3)

Reported in : (2001)168CTR(Bom)24; [2002]256ITR401(Bom)

1997, Section 65 was substituted so as to include a wide variety of services. Section 116 of the Finance (No. 2} Act, 1998, substituted Section 66 of the Finance Act, 1994. While a few services covered by the 1997 Act were

Jammu and Kashmir Bank Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

Reported in : (2008)114TTJ(Asr.)728

10(23G) and allowed by the AO, the assessee submitted that provisions of this section were inserted by the Finance (No. 2) Act, 1996 w.e.f. 1st April, 1997 and eversince the assessee had been claiming and is being allowed exemption under … and is being allowed exemption under Section 10(23G). Reliance was also placed on Circular No. 762 dt.18th Feb., 1998, which contains the Explanatory Notes for insertion of this section in the Act. Para 17.4 of the Explanatory

themis Pharmaceuticals and ors. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Direct Taxation

Reported in : (2003)(157)ELT569Tri(Mum.)bai

pendency. (iii) Notifying and giving urgent effect to proviso (d) to sub-section (1) of section 35B inserted by Finance (No.2) Act, 1998 five years ago shifting thousands of pending Modvat appeals for decision by Joint secretary (Revision Application). a few … case of Kumar Cotton Mills Vs CCE, Ahmedabad-2002 (146) ELT 438 before us. The said order in paragraph 33 clearly states that the issue related in that case to grant of stay before insertion of sub-section (2A)

Killick Nixon Ltd., Mumbai Vs. Deputy Commissioner of Income Tax, Mumb ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India - Article 226; ;Income Tax Act, 1961 - Sections 142(1) and 143(3); ;Finance (No. 2) Act, 1998 - Sections 87, 88, 89, 90, 90(1), 90(3), 91 and 94

Reported in : AIR2003SC312; (2002)178CTR(SC)387; [2002]258ITR627(SC); 2003(2)MhLj729; 2003MPLJ236(SC); (2003)1SCC145; 2003(2)LC804(SC)

the meanwhile, Kar Vivad Samadhan Scheme, 1998 (herein after referred to as KVSS) was brought into effect by Finance (No. 2) Act, 1998. The appellant filed a declaration under the KVSS on 20.11.1998 disclosing its assessed income as Rs. 33,65,298.00 and … the Writ Petition under Article 226 of the Constitution by which the appellant challenged the notice issued under Section 142(1) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act')2. The brief facts necessary to

Shri Manoj Aggarwal, Bemco Vs. Dcit

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Mr. Jain's objection, having regard to the language of Section 158BB(1), as amended retrospectively from 1.7.1995 by the Finance (No.2) Act, 1998.78. We may now turn to the enquires conducted by the Assessing Officer at Amritsar in … praying that the cross appeals in the case of M/s. Bishan Chand Mukesh Kumar in IT (SS)A. Nos. 33 & 35/Del/2006 may be heard by the Special Bench. A similar application was moved on behalf of Manoj

Director of Income-tax (Exemption) Vs. All India Personality Enhanceme ...

Court : Delhi

Subject : Direct Taxation

but under Section 10(22) of the Act. Section 10(22) of the Act was omitted by virtue of the Finance (No. 2) Act, 1998 and the exemption available to a university or an educational institution existing solely for educational purposes was included … the order dated 4th August, 2006 passed by the Tribunal recalling its earlier order dated 25th June, 2004. 33. At the outset, it is relevant to note that the Assessee had, by way of an appeal (being

T.S. Chandrashekar Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

to the retrospective amendment brought to s. 158BE relating to time-limit for completion of block assessment by the Finance (No. 2) Act, 1998 with retrospective effect from 1st July, 1995. Actually, a new Explanation was introduced to the aforesaid section in … Search and seizure operations were conducted by the Department simultaneously in the premises of M/s Trishul Enterprises, No. 33/23, First Floor, 20th Cross, First Block, Rajaji Nagar, Bangalore 10 and also at the residential premises of the

Alfa Laval India Ltd. Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2008)298ITR333(Pune.)

provisions contained in Explanation 10 below Section 43(1) of the Act. According to him, this Explanation, inserted by Finance (No. 2) Act, 1998, with effect from 01.04.99, supercedes the judgment relied upon by the assessee. This Explanation provides that where a … required for the project. On perusal of accounts, it was found that assets of the value of Rs. 33,18,20,381/- were transferred to the fixed asset account in this year. In the course of assessment proceedings, it was