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Checkmate Services P Ltd Vs. Commissioner Of Income Tax-i

Court : Supreme Court of India

..... 22.09.1987. 9 commissioner of income tax v. alom extrusions ltd., (2010) 1 scc489 8 of deletion of the second proviso to section 43b of it act (by finance act, 2003) and whether the same operated prospectively. the court rejected the revenue s appeal and held that the omission of the second proviso to section 43b ..... the judgement in allied motors (p) limited (supra) is delivered by a bench of three learned judges, which is binding on us. accordingly, we hold that finance act, 2003 will operate retrospectively with effect from 1st april, 1988 [when the first proviso stood inserted].. lastly, we may point out the hardship and the invidious discrimination which ..... provisions of sub-clause (x) of clause (24) of section 2 applies.6. the time limit for deposit of employees' contribution under the relevant acts / regulations are follows: a. epf scheme: chapter vi: declaration, contribution cards, and returns 38. mode of payment of contributions 6 second proviso w.e.f.1989. 6 (1) the employer shall .....

Agencia Geral (P.) Ltd. Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1993)45ITD243(Pune.)

..... a part of appeal against order under section 143(3) or 144 as contemplated by clause (a) of section 246. in fact, after the finance act, 1975 inserted section 44b in chapter iv dealing with computation of regular business income, provisions of section 172(4) has virtually become otiose, though it is retained in the statute book ..... option to get a regular assessment completed instead of ad hoc assessment contemplated by section 172(4) has become meaningless in view of section 44b inserted by the finance act, 1975 which provides that notwithstanding anything to the contrary contained in sections 28 to 43a, profits of a non-resident from business of operation of ships, shall ..... and the record.the case of the assessee falls, no doubt, under section 172 of the income-tax act, 1961 pertaining to shipping business of non-resident.this section falls in chapter xv of the income-tax act which provides for liability in special cases. section 172(1) contains a non obstante clause stating that the .....

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

Court : Income Tax Appellate Tribunal ITAT Delhi

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

..... insurance corporation on the realisation of the investment shall not be allowed as a deduction in computing the profits chargeable to tax." 17. the learned counsel argued that the finance act, 1988, had not amended sub-rule (b), but omitted it. as a result, no exemption was provided in respect of the profits earned on the sale of ..... notes had no statutory basis : "to enable the general insurance corporation and its subsidiaries to play more active role in capital markets for the benefit of policyholders, the finance act has amended sub-rule (b) of rule 5 of the first schedule to provide for exemption of the profits earned by them on the sale of investment. as a ..... assessee in relation to assessment order under section 143(3) for asst. yr. 1990-91. in this appeal the assessee has claimed following reliefs : (iii) deduction under chapter vi-a be further allowed at rs. 1,78,043.12. during the course of hearing before us, the learned counsel for the assessee pointed out that government of india .....

Sri Satyapal Wassan L/H Sri Naresh Vs. the A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Jabalpur

..... relating to escapement of income. therefore, the plea of the assessee in this regard is found to be not tenable, which is rejected.72. after the amendment by finance act, 2006, the view was explicitly made clear that time limit for issuance of notice under section 143(2) will not apply in re-assessment proceedings. therefore, this ..... as no such presumption is provided in assessment proceedings, we infer that where the legislature intended to provide such presumption it has been so provided in various chapters. in chapter relating to search and seizure that presumption about books of account and documents is provided but it is limited to the summary proceedings about retention or release ..... to the assessment completed consequent upon the notice issued under section 148 of the act. 12. since all the provisions of the act "so far as may be, apply" as envisaged under section 148(1) which is the phrase used in relation to assessment under chapter xiv-b in section 158bc(c) and "so far as may be, .....

The Commissioner of Wealth Tax Vs. Huf of H.H. Late Shri. J.M. ScIndia

Court : Mumbai

Reported in : (2008)110BOMLR1106; (2008)217CTR(Bom)531; [2008]300ITR193(Bom)

..... 2) was not issued. the learned bench came to the conclusion that requirement of section 143(2) cannot be dispensed with as it is mandatory. parliament subsequently by finance act 2006, with effect from 1.10.1991 introduced the second proviso to section 148 saving proceedings where return had been filed pursuant to proceedings under section 147 and no ..... rendered meaningless.in our opinion, it will not be possible to construe the provisions as are sought to be contended on behalf of the revenue. all the provisions of chapter iv will have to be read in tandem so as to bring about an uniformity and certainty to an order of assessment. proviso to section 16(2) is ..... limit as set out in section 17a. section 17a applies to both assessment and reassessment under section 16 and 17. in our opinion, this would defeat the scheme of the chapter. section 17 only use the expression assess or re-assess, however, the expression as contained in section 16(3) namely 'order in writing' is missing. even if .....

Ms. Mina Fusade, Legal Heir of the Late Prince Sayajirao Gaekwar Vs. M ...

Court : Mumbai

Reported in : (2005)107BOMLR1160; (2006)201CTR(Bom)207; [2006]285ITR229(Bom)

..... vide order-cum-intimation dated 10th march, 1999 rejected the applications-cum-declarations made by the petitioner under kvs scheme enacted under chapter-iv of the finance act. the deceased had suffered best assessments under the act, inter alia; for assessment years 1969-70 to 1978-79; 1981-82; and 1984-85 to 1986-87 along with penalties ..... in filing such appeals and not on merits, even then, the petitioner could not be disqualified under the provisions of section 95(i)(c) of the finance act. in his submission, there were validly presented because there were subsisting appeals; filed by the petitioner before the tribunal. he further submits that respondent no. ..... 1999. the petitioner's chartered accountant, therefore, requested respondent no. 1 to issue certificate in favour of the petitioner under section 90(1) of the finance act with respect to declarations made on 28th january, 1999 under the kvs scheme for the assessment years in question. the aforesaid submission made on behalf of the .....

Commissioner of Income-tax Vs. Vaish Brother's and Co.

Court : Allahabad

Reported in : [2001]247ITR385(All); [2001]117TAXMAN579(All)

..... construction of roads, etc., does not amount to processing of these materials and the assessee was not an industrial company within the moaning of section 2(7)(c) of the finance act, 1973, and the tribunal was wrong in holding so. we, therefore, answer the aforesaid question in the negative, i.e., in favour of the commissioner and against ..... engaged in the manufacturing of eatable food and drinks was held to be an industrial undertaking within the meaning of the provisions of section 2(7)(c) of the finance act, 1982. this case is also distinguishable because the present assessee is not claiming to be manufacturing anything, and as. such, the case would fail because of the ..... attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter vi-a of the income-tax act), is not less than fifty-one per cent, of such total income.' 5. this claim was negatived by the assessing officer as well as by .....

Sukhdeo Prasad Vs. Astt. Cit

Court : Allahabad

Reported in : (2004)87TTJ(All)604

..... kumar sarraf, varanasi (supra) vide order dated 29-8-2002, on similar facts. certain important points were noticed by the tribunal, which we may mention briefly. chapter xiv-b inserted by finance act, 1995, with effect from i-7-1995, provides special procedure for assessments in search cases. sec. 158bc of the income tax ..... completed the block assessment vide assessment order dated 31-7-1998, and determined the income of the assessee at rs. 1,26,940 in accordance with chapter xiv-b of the act. the assessee feeling aggrieved with the block assessment order filed this appeal on preliminary grounds and grounds on merits. however, we take up the appeal on ..... other person and that assessing officer shall proceed against such other person and the provisions of chapter xivb shall be applicable. the distinction between these two provisions- under chapter xiv-b would be that for section 158bc of the income tax act there should be a search and consequent to the search there was recovery and seizure of .....

Jagdish A. Sadarangani Vs. Government of India

Court : Supreme Court of India

Reported in : (1998)146CTR(SC)105; [1998]230ITR442(SC); JT1998(9)SC241; (1998)8SCC409; 1998Supp(8)SCC409

..... case may be, the further period so allowed, then, notwithstanding anything contained in any other provision of this chapter, the statement shall be deemed never to have been furnished.5. sub-section (4) was inserted in section 269-uc by the finance act, 1995, with effect from 1-7-1995. section 269-uc, as it stood before the said amendment ..... of the immovable property concerned in the agreement.7. the learned judges have referred to the objects and reasons appended to the bill which was enacted as the finance act of 1995. we have carefully perused the said reasons given by the learned judges of the high court in the impugned judgment as well as the objects and ..... defect regarding legality or validity of the agreement would not fall within the ambit of the said provision. the objects and reasons of the bill which was enacted as finance act, 1995 also do not give an indication that by inserting sub-section (4) in section 269-uc parliament intended to confer a power on the appropriate authority .....

U.A.E. Exchange Centre Ltd. Vs. Union of India (Uoi) and anr.

Court : Delhi

Reported in : (2009)223CTR(Del)250; [2009]183TAXMAN495(Delhi)

..... with respect to preliminary objection of the respondent5. the provisions for advance ruling are contained in chapter xix-b of the act, which was introduced in the act, by virtue of the finance act, 1993 w.e.f. 1st jan., 1993. the said chapter consists of sections commencing from section 245n, section 245v. section 245n deals with definitions of ..... various terms used in the chapter which, in sum and substance, define as to who can approach ..... gurbax singh v. financial commr. and anr. : air1991sc435 ]. the principles enunciated in the aforementioned judgments clearly point to the fact that section 245s in chapter xix-b of the act cannot be construed as an ouster clause, ousting the jurisdiction of the courts.7. this brings us to a question as to whether the authority is a .....