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The Commissioner of Income Tax Vs. Smt. Amarjeet Kaur and ors.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 10(2); Income Tax Act, 1961 - Sections 37, 37(1) and 256(1); ;Finance Act, 1998; ;Prize Chits and Money Circulation Scheme (Banning) Act, 1978 - Sections 2, 3 and 4

Reported in : (2006)201CTR(Kar)134; ILR2006KAR1060; [2006]283ITR71(KAR); [2006]283ITR71(Karn)

order as to costs. Ordered accordingly. (A) INCOME TAX ACT, 1961-SECTIONS 37, EXPLANATION TO SECTION 37 (INSERTED BY FINANCE (NO. 2) ACT, 1998), SECTION 256(1) - Reference on a question of law-M/s Manjog Homes promoting a scheme called 'Deposit Linked Incentive Scheme'-Whether … assessee and on the making of such deposits, goods dealt by the assessee of the value of about 75% of the deposit would be given free to the members as incentive/gift. The deposit so made by the

Smt. Epari Amaravati Vs. Commissioner of Income Tax and ors.

Court : Orissa

Subject : Direct Taxation

Reported in : [2001]246ITR108(Orissa)

parties,2. The Commissioner on the basis of a declaration made by the petitioner under section 88 of the Finance (No. 2) Act, 1998, has determined a sum of Rs. 75,000 under section 90(1) of the aforesaid Act towards the full and

Jyotsna Holdings (P) Ltd. Vs. Designated Authority Unde the Kar Vivad ...

Court : Delhi

Subject : Direct Taxation

Reported in : (2000)160CTR(Del)95

While the appeal was pending, the Government of India introduced the KVSS, contained in Chapter IV of the Finance (No. 2) Act, 1998, with a view to provide a quick and voluntary settlement of tax arrears outstanding as on 31-3-1998. Initially … to be payable on the interest under section 220(2), amounting to Rs. 75,82,304, worked out till 31-3- 1998. Since the said order is under challenge … Income Tax Act, 1961 (hereinafter referred to as 'the Act'), forms part of tax arrear,' as defined in section 87(m) of the Kar Vivad Samadhan Scheme (hereinafter referred to as 'KVSS'), and (ii) if its does, whether

Mr. R.B. Bahutule, Pharma Chem Vs. Commissioner of Central Excise,

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Service Tax

Reported in : (2004)(166)ELT233Tri(Mum.)bai

76 of the F.A. 94 is Rs. 100/- only.9. Section 76 of the F.A. 94 as substituted by Finance (No. 2) Act, 1998 w.e.f. 18/10/1998 reads as under: - "Any person, liable to pay service tax in accordance with the provisions … pay in addition to paying such tax, and interest on that tax in accordance with the provisions of Section 75, a penalty which shall not be less than one hundred rupees but which may extend to two hundred

Kiran Corporation Vs. the Asstt. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)102TTJ(Ahd.)375

of the case law on the subject and taking into consideration Explanation appended below Section 37(1) by the Finance (No. 2) Act, 1998 with retrospective effect, it has been held that the twin facet of the issue viz.genuineness as well as

Commissioner of Income-tax Vs. A.J. Shetty and Co. P. Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 37(1)

Reported in : (2002)173CTR(Kar)375; ILR2002KAR906; [2002]255ITR180(KAR); [2002]255ITR180(Karn); [2002]122TAXMAN389(Kar)

of the court to the Explanation under Section 37 of the Act which has been inserted by the Finance (No. 2) Act of 1998 with retrospective effect from 1st April, 1962. For the purpose of convenience, Section 37 of the … case, the Tribunal is right in law in holding that 50 per cent, of the raid expenses and 75 per cent, of the amounts paid to informants are allowable under Section 37(1) ?'2. The statement of case

Jyotsna Holdings Pvt. Ltd. Vs. Designated Authority Under the Kar Viva ...

Court : Delhi

Subject : Direct Taxation

Acts : Constitution of India - Article 226; Income Tax Act, 1961 - Sections 87 and 220; Finance Act, 1960 - Sections 156 and 215

Reported in : 2000IVAD(Delhi)461; 2000(53)DRJ696; [2000]243ITR246(Delhi)

While the appeal was pending, the Government of India introduced the KVSS, contained in Chapter IV of the Finance (No. 2) Act, 1998, with a view to provide a quick and voluntary settlement of tax arrears outstanding as on 31st March, … to be payable on the interest under Section 220(2), amounting to Rs. 75,82,304/-, worked out till 31st March, 1998. Since the said order is under … ORDERD.K. Jain, J.1. Two short but interesting questions namely: (i) whether interest under Section 220(2) of the Income-tax Act, 1961 (for short 'the Act') forms part of 'tax arrear' as defined in

Deputy Commissioner of Income Tax Vs. Oriental General Insurance Co.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2005)92TTJ(Delhi)300

Schedule governed the matter. He pointed out that insertion made in Clause (a) of Rule 5 by the Finance (No. 2) Act, 1998, with retrospective effect from 1st April, 1989, is not applicable to assessment years before us, viz., asst. yrs. … July, 1998 and 31st July, 2000, in the case of the assessee in relation to assessment orders under Section 143(3) for asst. yrs. 1995-96 and 1997-98. In the absence of COD approval for these two appeals filed

Fenoplast Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2002)82ITD178(Hyd.)

the provisions of the Expln to Section 158BA inserted with retrospective effect from 1st July, 1995 by the Finance (No. 2) Act, 1998, it is claimed that this is only a protection to the assessee inasmuch as it prohibits the inclusion

Commissioner of Income-tax Vs. Rashid Exports Industries

Court : Allahabad

Subject : Direct Taxation

of the amount of profits and gains. 13. The object of amending section 80-IA by the Finance (No.2) Act, 1998, as is evident from the memorandum explaining the provisions in the Finance (No.2) Bill, 1998 ([1998] 231 ITR … 332 ITR 14/96 Taxman 145 (Delhi) and Broadway Overseas Ltd. v. CIT [2014] 223 Taxman 218 (Mag.)/41 taxmann.com 75 (Punj. and Har.) the Courts have held that the deduction under Section 80HHC of the Act is required