Judgment Search Results Home > Cases Phrase: finance act 1970 chapter iii income tax Sorted by: recent Court: delhi Page 9 of about 1,576 results (0.067 seconds)

Commissioner of Income Tax Vs. Kanti Bhai Damani

Court : Delhi

..... explanation was inserted by finance (no. 2) act, 1998 with retrospective effect from 1st july, 1995 and reads as under:- "[explanation.- for the removal of doubts, it is hereby declared that- (a) ..... relating to the block period shall not include the income assessed in any regular assessment as income of such block period; (c) the income assessed in this chapter shall not be included in the regular assessment of any previous year included in the block period.]".11. referring to the said explanation, it has been held by ..... deputy commissioner of income tax and others versus shaw wallace and company limited, (2001) 248 itr 81 (cal.). the division bench noticed the amendments made in chapter xiv-b and addition by way of insertion of an explanation to section 158ba in view of the conflicting decisions or opinions expressed by various courts. the said .....

T and T Motors Ltd Vs. Assistant Commissioner of Income

Court : Delhi

..... accessories keeping in mind the sale promotion element and the issue in tuticorin alkali chemicals (supra) was regarding commission and discount on sales..7. chapter xiih under the heading "income tax on fringe benefits" was inserted by finance act, 2005, w.e.f. 1st april, 2006, and remained in the statute book till 31st march, 2010. the term fbt is defined ..... under and is chargeable under section 115wa. section 115wa reads as under:- ita 899/2010 page 3 of 15 "115-wa. charge of fringe benefit tax.--(1) in addition to the income tax charged under this act, ..... to his employees. one of the contentions raised by the appellant is that customers are not employees and are not deemed to be employees under any of the provisions of chapter xiih. the said contention may or may not have merit but for the purpose of present case, we do not think, we are required to go into this .....

Girnar Investment Ltd Vs. the Commissioner of Income Tax 4

Court : Delhi

..... period of thirty days, from the expiry of the period of thirty days till the tax is actually paid. the first proviso to the sub- section inserted by the finance act, 1963 with retrospective effect from 1- wp(c) no.5750/2010 page 6 of 30 4-1962 provides that where as a result of an order of rectification/amendment ..... appellate/revisional authorities whose orders were not final but were made the subject of further appeal. the proviso was inserted by the finance act, 1963 with retrospective effect from 1-4-1962, the date of commencement of the income tax act, 1961..31. in shri ambica mills ltd. v ito (1993) 203 itr 84, a division bench of the gujarat ..... have been vehemently opposed by the ld. standing counsel..10. section 220 provides for a situation "when tax payable and when assessee deemed in default". it is placed in chapter xvii which is titled "collection and recovery of tax" and is the first section placed under sub- head "d-collection and recovery". sub-section (1) in brief provides .....

Commissioner of Income Tax Vs. Wimco Seedlings Ltd

Court : Delhi

..... -section(1). the amended section 14a as it stood pursuant to amendment brought about by finance act, 2002 and, thereafter by finance act, 2006 reads as follows:- finance act, 2002 "expenditure incurred in relation to income not includible in total income. 14a. for the purposes of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in ..... assessee under section 154, for any assessment year beginning on or before the 1st day of april, 2001." finance act, 2006 "expenditure incurred in relation to income not includible in total income 14a. (1) for the purposes of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income which .....

Maxopp Investment Ltd and ors. Vs. Commissioner of Income Tax and ors.

Court : Delhi

..... also to notice its legislative history. section 14a was inserted into the said act by the finance act, 2001 with retrospective effect from 01/04/1962."expenditure incurred in relation to income not includible in total income .14a. for the purposes of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation ..... to income which does not form part of the total income under this act."7. by virtue of the finance act, 2002, the following proviso was inserted in section 14a and was deemed to .....

M/S Shiva Taxfabs Limited and ors. Vs. Union of India and ors.

Court : Delhi

..... process involved when "pet scrap and waste bottles are converted". according to the stand taken by the revenue this is covered by chapter note i to chapter 54 read with section 2(f) of the act. the circular also refers to the divergent stands as to the classification adopted in different jurisdictions of the central excise. it has ..... prayed for quashing of circular no. 929/19/2010-cx dated 29th june, 2010, issued by respondent no. 3, central board of excise and customs, ministry of finance (board, for short). it is alleged that the circular is patently illegal and contrary to the ratio approved and held by the customs, excise and service tax appellate tribunal ..... under:- "circular no. 929/19/2010-cx f.no. 55/1/2010-cs.1 government of india ministry of finance department of revenue new delhi the, june 29th 2010 order under section 37 b of central excise act, 1944 subject:- classification of polyester staple fibre manufactured out of pet scrap and waste bottles. in exercise of powers .....

Commissioner of Income Tax Vs. A.T. InvoifIn India (P) Ltd and ors.

Court : Delhi

..... before the expiry of one year from the end of the relevant assessment year or before the completion of assessment, whichever is earlier.5. chapter-xiv b of the act, which was inserted by the finance act, 1995 w.e.f. 1st july, 1995 deals with said procedure for assessment of search cases and it starts with section 158b which ..... taxable income and by not paying the taxes properly due from them that chapter xiv-b consisting of sections 158b & 158bh was inserted in the income-tax act by the finance act, 1995, with effect from july 1, 1995.the assumption made in the scheme of the act that a person who comes forward with the return or with further information ..... provides certain definitions for the said chapter. clause (a) thereof defines block period. clause (b) gives the definition of undisclosed income and reads as under:-" .....

Rajan Gupta Vs Commissioner of Income Tax

Court : Delhi

..... may also point out that in case of applications made under section 245c on or after 01.06.2007, two provisos have been made applicable by virtue of the finance act, 2007 with effect from 01.06.2007. the two provisos to sub-section (2) read as under:- "provided that where an application has been made under section ..... to be further proceeded with, as the case may be.14. an analysis of the above provisions indicates that in the course of regular assessments under chapter xiv of the said act, if the assessing officer considers it necessary or expedient to ensure that the assessee has not understated the income or has not computed the assessee's ..... while construing the expression assessment proceeding as appearing in the said explanation 1, the supreme court examined various provisions dealing with the procedure for assessment as contained in chapter-xiv and held:-the process of assessment thus commences with the filing of the return or when the return is not filed by the issuance by the assessing .....

Commissioner of Income Tax Vs. Insilco Ltd.

Court : Delhi

Reported in : [2010]321ITR105(Delhi)

..... payable under those provisions is compensatory in nature. the court read the provisions as mandatory in character holding that after the amendment in the provisions in the finance act, 1987 with the use of the expression 'shall' therein, the legislature clearly indicated that its intention was to make the collection of statutory interest mandatory. ..... advance tax, provisions of section 234b stand attracted and interest become payable. he submitted that the law as contained in section 234b of the act has undergone a change through finance act 1987 with effect from 01.04.1989 making it mandatory for the assessing authority to charge the interest chargeable under section 234a, 234b and ..... (1) of section 143 or on regular assessment, as reduced by the amount of tax deducted or collected at source in accordance with the provisions of chapter xvii on any income which is subject to such deduction or collection and which is taken into account in computing such total income 1928.explanation 2 : where .....

The Motor and General Finance Ltd. Vs. Commissioner of Income Tax-vi

Court : Delhi

Reported in : (2010)228CTR(Del)109; [2010]321ITR88(Delhi); [2009]185TAXMAN167(Delhi)

..... 92,04,436 5,08,95,211----------------------------------------------------------------------------------------------calculations of these interests are as under: annexure c m/s. the motor & general finance ltd. a.y. 1994-95 calculation of interest allowed under section 244a along with refund to the assessee-----------------------------------------------------------------------------------------------date of payment amount ..... to the assessee as per the calculations made by the department is as under: annexure a m/s. the motor & general finance ltd. a.y. 1994-95 summary of interest allowed alongwith refund to the assessee----------------------------------------------------------------------------------------------date of date of its date of appeal ..... in which the total income is determined under this act, and(b) in any other case, within three months from the end of the month in which the claim for refund is made under this chapter, the central government shall pay the assessee simple interest .....