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Commissioner of Income-tax Vs. Aar Pee Apartments P. Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 2004 - Sections 142A; Income Tax Act, 1961 - Sections 55A, 69, 69A, 69B, 69C, 131, 142A and 142A(1)

Reported in : [2009]319ITR276(Delhi); [2010]188TAXMAN39(Delhi)

DVO for determining the cost of construction was not justified even after insertion of Section 142A by the Finance (No. 2) Act, 2004, with retrospective effect from November 15, 1972 ?3. Learned Counsel for the parties are ready to argue. Accordingly, … can be made for assessment or reassessment where an estimate of value of any investment referred to in Section 69 or 69B or the value of any bullion, jewellery or other valuable article referred in Section 69A or

Saj Flight Services (P) Ltd. Vs. Supdt. of Central Excise

Court : Kerala

Subject : Service Tax

Acts : Finance (No. 2) Act, 2004 - Sections 66 and 69; Finance Act, 1994 - Sections 65(24); Finance Rules, 2004; Finance Act, 2004 - Sections 65(24) and 69

Reported in : (2006)201CTR(Ker)490; 2006(2)KLT73; 2006[4]STR432

catering service to M/s. AIR India and are liable to get registered under Section 69 of Finance Act (No. 2), 2004 and also to follow the provisions of the said Act and Rules with effect from 10-9-2004.2. Writ … that petitioner is providing catering service and is liable to get registered under Section 69 of the Finance Act, 2004. We find no reason to entertain these appeals. They are accordingly dismissed in limine. - - According to

Commissioner of Income Tax Vs. Sudhish Kumar

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 69, 142A, 143(1), 143(2), 145 and 153A; Finance (No. 2) Act, 2004

Reported in : (2005)195CTR(Del)77; [2005]276ITR563(Delhi)

the Tribunal to the contrary, are vitiated in law. Section 142A of the Act was introduced by the Finance (No. 2) Act of 2004 and was given a retrospective effect w.e.f. 15.11.1972 but with an exception added to the Section … the basis of the report of the DVO, he treated an amount of Rs.4,91,100/- as unexplained investment under Section 69. The CIT (A) has since deleted the addition by noticing various infirmities.Without going in detail into the merits

Dy. Cit(A) Vs. Subham Industries

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

case, in view of the newly inserted provisions of Section 142A with retrospective effect from 15.11.1972 by the Finance (No. 2) Act, 2004, the order dated 9^thNovember, 2004, passed in I.T.A. Nos. 1399 & 1400/Alld/1998 should not be recalled as held … assessment or reassessment under this Act, where an estimate of the value of any investment referred to in Section 69 or Section 69B or the value of any bullion, jewellery or other valuable article referred to in Section

Deputy Commissioner of Vs. Shubham Industies

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

Reported in : (2007)104ITD126Luck

Officer under Section 142A of the Act. The Section 142A of the Act, which has been inserted by Finance (No. 2) Act, 2004 reads as under: 142A. (1) For the purposes of making an assessment or reassessment under this Act, where … assessment or reassessment under this Act, where an estimate of the value of any investment referred to in Section 69 or Section 69B or the value of any bullion, jewellery or other valuable article referred to in Section

Deputy Commissioner of Income Tax Vs. Shubham Industries

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

Reported in : (2007)106TTJLuck34

AO under Section 142A of the Act. The Section 142A of the Act, which has been inserted by Finance (No. 2) Act, 2004, reads as under: 142A. Estimate by Valuation Officer in certain cases.(1) For the purposes of making an assessment … assessment or reassessment under this Act, where an estimate of the value of any investment referred to in Section 69 or Section 69B or the value of any bullion, jewellery or other valuable article referred to in Section

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 … assessment or reassessment under this Act, where an estimate of the value of any investment referred to in Section 69 or Section 69B or the value of any bullion, jewellery or other valuable article referred to in Section

Dr. Ramesh Kumar Anand Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Amritsar

Subject : Direct Taxation

on the other hand, referred to the amendment introduced in the Act by inserting Section 142A by the Finance (No. 2) Act, 2004 with retrospective effect from 15-11-1972 and submitted that such reference to valuation cell for ascertaining the cost of … for ascertaining the cost of alterations etc. for the purpose of considering the extent of unexplained investment under Section 69. Subsequently, on receipt of valuation report, the assessing officer found a difference of Rs. 4,91,100. It was added

Commissioner of Income-tax Vs. Krishan Lal Dua

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 55A, 69, 69A, 69B, 131(1), 133(6), 142(2), 142A, 143(1), 147, 148, 153A, 260A and 269L; Wealth-tax Act, 1957 - Sections 16A, 37(1), 38 and 38A; Code of Civil Procedure (CPC) , 1908 - Sections 75 - Order 26, Rule 9

Reported in : [2005]277ITR477(P& H)

view of Section 142A which was added to the Act with effect from November 15, 1972, vide the Finance (No. 2) Act, 2004, the addition made by the Assessing Officer on the basis of the valuation report is liable to be … assessment or reassessment under this Act, where an estimate of the value of any investment referred to in Section 69 or Section 69B or the value of any bullion, jewellery or other valuable article referred to in Section

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 … November, 1972. Section 142-A of the Act deals with determination of the FMV of investments referred to in Section 69 or 69-B of the Act or to the value of bullion, jewellery or other valuable articles referred to