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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 … purpose, reference was also made to the judgment of Hon'ble Supreme Court in the case of Chuggan Das, 55 ITR 17 (SC). The learned Special Counsel argued that in the transaction with Cholamandalam Mutual Fund the assessee

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 … to clause (c) of Explanation (iii) of Section 194C of the Act as also to CBDT Circular Nos. 558 dated 28.03.1990 and 681 dated 08.03.1994, held that the provisions of Section 194C of the Act were applicable

Commissioner of Income Tax – Ii, Lucknow Vs. Ms. Lucknow Public Educ ...

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 142A, 12A, 55A, 69B, 131 (1) (d); Societies Registration Act, 1860 -

section 2 of the Wealthtax Act, 1957 (27 of 1957).8. The Section was inserted by the Finance (No.2) Act, 2004 with effect from 15.11.1972 to confer power on the Assessing Officer, to refer the matter to the Valuation … Bala Paul (supra) to hold that reference can be made to the Valuation Officer for the purpose of Section 55 (A), 131, 133 (6) and 142 (2) and not for the purpose of finding out the cost. Next,

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 … purpose, reference was also made to the judgment of Honble Supreme Court in the case of Chuggan Das, 55 ITR 17 (SC). The learned Special counsel argued that in the transaction with Cholamandalam Mutual Fund the assessee

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 … of garden levelling work of block No. 6. (c) Voucher in the name of Shri Prafulbhai for Rs. 550 paid for water, sprinkling for 22 days @ Rs. 25 per day. (d) Voucher in the name of

Commissioner of Income Tax Vs. Rohtas Projects Ltd.

Court : Allahabad

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 38A; Finance Act, 2004; Income Tax Act, 1961 - Sections 55A, 69, 69A, 69B, 131(1), 133, 142A, 142A(1) and 153A

Reported in : (2006)204CTR(All)139

Tribunal is not in accordance with law as it ignores the provisions of Section 142A introduced by the Finance (No. 2) Act, 2004, with retrospective effect from 1bth Nov., 1972. Section 142A of the IT Act reads as under:142A. Estimate by … of the cost of construction of house property built by the assessee It was also held that Section 55A of the IT Act, 1961 has no application to such a matter and that the power of the

Commissioner of Income Tax Vs. Satish Kumar Chandna

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 55A, 131, 142A and 269; Finance No. 2 Act, 2004

Reported in : (2008)218CTR(Del)528; [2009]311ITR276(Delhi)

Counsel for the Revenue has drawn our attention to Section 142A of the Act which was inserted by Finance No. 2 Act, 2004 with retrospective effect from 15th November, 1972.12. Obviously, the Tribunal did not have the benefit of the provisions … decision) that a reference to a Departmental Valuation Officer could be made only for the purpose of Section 55-A and Section 269 of the Act and thereforee, the reference was invalid and no cognizance could be taken

Rallis India Ltd. Vs. Commissioner of Income-tax (Appeals)- XXI, Mumba ...

Court : Mumbai

Subject : Direct Taxation

to make a reference to a Valuation Officer is Section 142-A of the Act introduced by Finance (No.2) Act 2004 with retrospective effect 15th November, 1972. Section 142-A of the Act deals with determination of the FMV of … notice dated 21st December, 2006 and 2nd February, 2007 issued by the District Valuation Officer (DVO) under Section 55A of the Income Tax Act, 1961 (the Act). The substance of the Petitioner's challenge is to the jurisdiction

State of West Bengal Vs. Calcutta Club Limited

Court : Supreme Court of India

Subject : Service Tax

The Finance Act, 2003 brought 8 new services within the ambit of service tax. Further, the Finance (No.2) Act, 2004 brought 13 new services under service tax which included reintroduction of service tax on 3 services and also … be computed in accordance with the rules contained in the First Schedule.” 55 46. A reading of the aforesaid provisions makes it clear that when … therefore, no sales tax could be levied.4. The Tribunal referred to Article 366(29-A) of the Constitution of India, Section 2(30) of the Act, its earlier decision in Hindustan Club Ltd. v. CCT [Hindustan Club Ltd. v. CCT,

Commissioner of Income Tax - Ii Vs. M/S Multiplex Capital Ltd.

Court : Delhi

Subject : Direct Taxation

transaction tax shall have the same meanings respectively assigned to them under Chapter VII of the Finance (No.2) Act, 2004.'' 8. Minimum Alternate Tax (MAT) scheme was introduced by inserting section 115J in the Act by the Finance