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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 … assessee on redemption of units of mutual funds was liable for disallowance in view of the provisions of Section 94(7) of the IT Act, 1961 (hereinafter referred to as the 'Act').1.1 In order to appreciate the issue which

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

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

Porrits and Spencer (Asia) Ltd. Vs. the Commissioner of Income-tax

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (2010)231CTR(P& H)294

Tax v. Satya Nand Munjal : (2002) 256 ITR 516 (P&H;). Placing reliance on the paras under Question No. 2, Mr. Aggarwal has argued that if on account of lacunae in the law or otherwise, the assessee-appellant becomes … as set-off in respect of the rest of the income. Learned Counsel has urged that by virtue of Section 94(7) of the Act, which has been inserted by the Finance Act, 2001, with effect from 1.4.2002, such like

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 … 18,33,939 4,79,016--------------------------------------------------------------------------2. 4/94 to 3/95 27,45,946 37,06,493 9,60,547--------------------------------------------------------------------------3. 4/95 to 3/96 67,39,422 92,27,910 32,98,312--------------------------------------------------------------------------4. 4/96 to 3/97 68,78,879 94,57,014 25,78,135--------------------------------------------------------------------------5. 4/97 to 3/98 45,22,750 62,16,218 19,01,523--------------------------------------------------------------------------6. 4/98 to 12/98 15,44,733 21,21,871 5,77,138 Total 2,37,96,653 3,25,63,445 4.8 The

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

Universities Superannuation Scheme Limited as Trustee of Universities ...

Court : Authority for Advance Rulings

Subject : Land Acquisition

following proviso shall be inserted in clause (ii) of sub-section (I) of section 115AD by the Finance (No.2) Act, 2004, w.e.f. 1.4.2005: Provided that the amount of income-tax calculated on the income by way of short-term capital gains

In Re: Universities

Court : Authority for Advance Rulings

Subject : Direct Taxation

Reported in : (2005)194CTRAAR289

Tax Act, 1961 - Sections 45(1), 48, 112, 112(1), 115I, 115O, 115AD, 115AD(3) and 245(1); Finance Act, 1999; Finance (No. 2) Act, 2004; Securities Contracts (Regulation) Act, 1956 - Section 2Union of India v. A. Sanyasi Rao, Appeal (Tribunal)--PROCEDUREReversal of order

institute of Marine Engineers (i) Vs. Asstt Dir. of It

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Service Tax

Act. In any case, as per the amended provisions of Section 11 (4A), which were amended by the Finance (No. 2) Act, 1991 with effect from 1-4-1992, it has been provided that in cases where the income of a trust … received sponsorship income of Rs. 12,29,277 and also co-sponsorship income of Rs. 6,83,590 and advertisement income of Rs. 94,943 on account of ads in the brochure published during the event along with stall fees of Rs. 3,36,793,

Van Oord Dredging and Marine Vs. Adit, (international

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2008)297ITR115(Mum.)

Toyo Engg. Corpn. ITA No.6600/M/02, cited by the assessee, has not considered the amendment made by Finance (No.2) Act, 2004 which has modified the amendment made by Finance Act, 2001 retrospectively. He relied on decision in 94 ITD … in relation to the NMPT project and this amount was treated as income from its discontinued business Under Section 176(3A) of the IT Act, 1961, apart from certain other additions and disallowances. The appeal to the CIT(A)