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Commissioner of Income Tax Vs. Shambhu Mercantile Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(34), 94(7) and 143(2); Finance Act, 2001; Finance (No. 2) Act, 2004

Reported in : (2009)224CTR(Del)499; [2009]183TAXMAN251(Delhi)

Section 94(7) of the Act as it stood prior to the amendment carried out by the Finance Act No. 2, 2004 w.e.f. 1st April, 2005. The relevant provision reads as follows:Where(a) any person buys or acquires any securities

Shree Choudhary Transport Co. Vs. Income Tax Officer

Court : Supreme Court of India

Subject : Direct Taxation

from 2006-07. We, however, do not subscribe to the view so canvassed by the assessee. The Finance (No.2) Act 2004 has brought an amendment in Section 40 of the Act making it applicable w.e.f. 01/04/2004 (sic)8. Since this … the consequences of default in the case where tax is deductible at source on any interest, commission, brokerage 34 or fees but had not been so deducted, or had not been paid after deduction (during the previous

Tamil Nadu Cricket Association Vs. Director of Income Tax

Court : Chennai

Subject : Education

the Commissioner to cancel the registration granted under the stated circumstances, reads as under:- Provision inserted under Finance Act, 2004: Section 12AA(3):- Where a trust or an institution has been granted registration under clause (b) of sub-section (1) and … Dated :21. 10.2013 Coram The Honourable Mrs.Justice CHITRA VENKATARAMAN and The Honourable Mr.Justice T.S.SIVAGNANAM Tax Case (Appeal).No.450 of 2013 and M.P.No.1 of 2013 --- The Tamil Nadu Cricket Association No.5, M.A.Chidambaram Stadium Victoria Hostel Road Chepauk, Chennai-600 … or interest. After referring to the decision of this Court reported in 343 ITR300in the case of CIT Vs. Sarvodaya Ilakkiya Pannai, wherein, this Court

Karmachari Kumardhubi Congres Union Vs. State of Jharkhand

Court : Jharkhand

Subject : Company

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 26 and 30; Constitution of India - Article 226

Reported in : AIR2005Jhar74; III(2005)BC315; [2005(2)JCR195(Jhr)]

and Investment Corporation of India, (1993) 2 SCC 144, where there was inconsistency between two special laws. The Finance Corporation Act, 1951 and the Sick Industries Companies (Special Provision) Act, 1985. The latter contained Section 32 which … giving it overriding effect, can also be applied. Such a provision is there in the RDB Act, namely, Section 34. A similar situation arose in Maharastra Tubes Ltd. v. State Industrial and Investment Corporation of India, (1993) 2

Alcove Industries Ltd. Vs. Oriental Structural Engineers Ltd.

Court : Delhi

Subject : Arbitration

Acts : Arbitration and Conciliation Act, 1996 - Sections 5, 9, 11, 11(6), 11(7), 12, 12(3), 13, 13(3), 13(4), 13(5), 14, 14(1), 14(2), 15, 15(2), 34 and 80; Arbitration Act 1940 - Sections 5, 11 and 12; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002; Recovery of Debts due to Banks and Financial Institutions Act, 1993; Constitution of India - Articles 136 and 226

Reported in : 2008(1)ARBLR393(Delhi)

court is not powerless to appoint a substitute. Saurabh Kalani v. Tata Finance Ltd. and Anr. 2004 (1) Rec Arb. 120 has been relied to … 12 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the `Act') seeking removal of respondent no. 2, (the Sole Arbitrator) and appointment of an independent and impartial arbitrator in his place. Since, most of the … aggrieved, only after the arbitral award is made, at the stage of filing objections to the award under Section 34 of the Act. It is argued that the legislature has consciously prescribed the aforesaid procedure to minimise interference

Commissioner of Income Tax Vs. Herbalife International India Pvt. Ltd.

Court : Delhi

Subject : Direct Taxation

payment made to residents and non-residents have to be the same. (b) Prior to its amendment by the Finance (No. 2) Act, 2004 Section 40 (a) (i) of the Act provided for disallowance of payments made to non-residents where tax is not … Stanley and Co. (2007) 292 ITR 416 (SC), Asia Satellite Tel. Co. Ltd. v. DIT (2011) 332 ITR 340 (Del) and CIT v. EKL Appliances Ltd. (2012) 345 ITR 241 (Del) it is submitted that international commentaries

Simplex Infrastructures Ltd. Vs. Commissioner of Service Tax, Kolkata

Court : Kolkata

Subject : Service Tax

was brought under the purview of service tax with effect from 10th September, 2004 by the Finance (No.2) Act, 2004. The petitioner is making payment of service tax as per law and filing return regularly. (4) The levy … the petitioner was basically engaged in civil engineering construction and was not ‘consulting engineer’ within the meaning of Section 65(11) of the Finance Act, 1994. (as amended by Finance Act, 1997).(6) Thereafter, the respondent did not proceed

Wallfort Shares and Stock Brokers Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

Reported in : (2005)96ITD1(Mum.)

exemption from tax. The holding period of 3 months has been subsequently increased to 9 months by the Finance (No. 2) Act, 2004 with effect from 1-4-2005. Assuming that the provisions of section 94(7) were not retrospective and only prospective in … refund of taxes paid by the company in relation to the dividend payments under the provisions of section 341 of the Act. On those facts divergent views were expressed by their Lordships. The learned CIT(Appeals) referred to

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

exemption from tax. The holding period of 3 months has been subsequently increased to 9 months by the Finance (No. 2) Act, 2004 w.e.f. 1.4.2005. Assuming that the provisions of Section 94(7) were not retrospective and only prospective in effect, those … refund of taxes paid by the company in relation to the dividend payments under the provisions of Section 341 of the Act. On those facts divergent views were expressed by their Lordships. The learned CIT(Appeals) referred to

Amit Estate Organizer Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2008)113TTJ(Ahd.)1018

the basis of report obtained under such reference. Section 142A has been introduced in the statute book by Finance No. 2 Act, 2004 with retrospective effect from 15th Nov., 1972, according to which for the purpose of making an assessment or … physical inspection at Rs. 1,24,81,677 against which total value was taken by the registered valuer at only Rs. 34,52,964 without specifying each and every such item. We also found that specific qualification was made by the DVO