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Smt. K. Durga Rani and Another Vs. Appropriate Authority and Another.

Court : Andhra Pradesh

Reported in : [1998]231ITR472(AP); [1998]100TAXMAN492(AP)

..... issued by the central board of direct taxes of the government of india, ministry of finance, department of revenue and the counter-affidavit filed by the under secretary, central board of direct taxes, department of revenue, observed that ( ..... the provisions of section 269ud requires to be supported by reasons in writing and such reasons must be germane to the object for which chapter xx-c was introduced in the income-tax act, namely, to counter attempts to evade tax.the conclusion that the provisions of chapter xx-c are to be resorted to only where there is significant undervaluation of the immovable property to be sold in the agreement of sale with a view to evade tax finds support from the decision of this court in the case of k. p. ..... the powers of compulsory purchase conferred under the provisions of chapter xx-c of the income-tax act are being used and intended to be used only in cases where in an agreement to sell an immovable property in an urban area to which the provisions of the said chapter apply, there is significant undervaluation of the property concerned, ..... 'it was further held (page 554) :'moreover, if such a requirement were not read into the provisions of the said chapter, they would be seriously open to challenge on the ground of violation of the provisions of article 14 on the ground of non-compliance with ..... she got the property as legatee under a will dated october 1, 1973, executed by her husband, the late sri pulla reddy.the first and second petitioners filed a .....

The Commissioner of Income-tax Vs. Mcdermott International Inc.

Court : Uttaranchal

Reported in : (2008)218CTR(Uttranchal)203; [2008]302ITR268(Uttaranchal)

..... to in sub-section (2) is passed:provided that where the declarant has filed a writ petition or appeal or reference before any high court or the supreme court against any order in respect of the tax arrear, the declarant shall file an application before such high court or the supreme court for withdrawing such writ petition, appeal or reference and after withdrawal of such writ petition, appeal or reference with the ..... 2) act, 1998, reads as under:(3) every order passed under sub-section (1), determining the sum payable under this scheme, shall be conclusive as to the matters stated therein and no matter covered by such order shall be reopened in any other proceeding under the direct tax enactment or indirect tax enactment or under any other law for the ..... sub-section (4) of section 90 contained in chapter iv of the finance (no. ..... act, 1998, and settlement order is passed under section 88 of aforesaid act, no matter covered under the settlement can be reopened as provided in sub-section (3) of section 90 of the finance ..... issue and find that what sub-section (3) of section 90 of the finance (no. ..... the respondent/assessee argued that in view of the provisions contained in sub-section (3) of section 90 of the finance (no. ..... section 90 of the finance (no. ..... shows that under kvss of 1998, after the declaration is made to the designated authority under the provisions of section 89 of the finance (no. ..... declaration and issued certificate in form 2a, under section 90 of the finance (no. ..... under finance (no. .....

Sony India (P.) Ltd. Vs. Central Board of Direct Taxes and anr.

Court : Delhi

Reported in : (2006)206CTR(Del)157; [2007]288ITR52(Delhi)

..... the finance act, 2001 substituted the earlier section 92 of the income tax act 1961 ('act') with sections ..... having regard to the balance sheet of such business as on the valuation date; the phrase 'having regard to the balance sheet of such business' as judicially interpreted means that the wealth tax officer has to take into consideration or account the balance sheet of such business for such valuation and not that such balance sheet is conclusive or binding or decisive of the values of assets appearing therein.22. ..... central board of direct taxes (cbdt) issued ..... will be determined by applying any of six methods specified in clauses (a) to (f) there under or 'such other relevant factors' as the central board of direct taxes cbdt) may prescribe. ..... -* * *)(2) notwithstanding anything contained in sub-section (1),-(a) where the assessed is carrying on a business for which accounts are maintained by him regularly, the wealth tax officer may, instead of determining separately the value of each asset held by the assessed in such business, determine the net value of the assets of the business as a whole having regard to ..... reliefs:(a)a writ of certiorari or writ, order of direction in the nature of certiorari, or any other appropriate writ, order or direction under article 226/227 of the constitution of india quashing ..... with or contrary to the objective sought to be achieved by the provisions of chapter x of the act. ..... chapter x of the act titled 'special provisions relating to avoidance of tax .....

Addl. Commissioner of Income-tax Vs. Abbas Wazir (P.) Ltd. and Samad C ...

Court : Allahabad

Reported in : (1979)9CTR(All)169; [1979]116ITR811(All)

..... 2) act, 1967 or section 2(6)(d) of the finance act, 1968, so as to be entitled to concessional rates of tax in the assessment ..... 1974-75, it had claimed relief under section 2(8)(c) of the finance act, 1974 (20 of 1974). ..... full power to remand a case for considering a particular materialon the record and may give directions for a fresh finding, which in hisopinion is needed for the actual decision in the ..... another question which has been referred to us is :'whether the aac was justified in directing the ito to look into the claim of deduction of bonus afresh and then to allow the same keeping in view the practice followed ..... be mainly engaged in the business of......manufacture or processing of goods.........if the income attributable to any one or more of theaforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter via of the income-tax act) is not less than fifty-one per cent. ..... the aac was right in consideringit and directing the ito to look into the matter and to find out what wasthe past practice, since there was no material to look into this plea, andthen to proceed ..... import licences were received by the assessee as a direct result ofexporting carpets to the foreign countries. ..... the phrase 'attributable to' in mind it cannot be gainsaid that the import entitlement or its sale proceeds were received from sources, though other than the actual manufacturing and export of carpets, directly connected with that activity. .....

Commissioner of Income-tax Bombay City-i Vs. N.U.C. Private Ltd.

Court : Mumbai

Reported in : [1980]126ITR377(Bom); [1980]4TAXMAN436(Bom)

..... shri khatri then referred to the circular dated february 17, 1973, of the central board of direct taxes reproduced in [1973] 88 itr 80, to contend that although the assessee-company was engaged in the business of construction of buildings, it was also at the same time manufacturing or processing window frames, door frames, cement beams and slabs, and the ..... 2(7)(d) of chapter ii of the finance act, 1966 ? ..... ii of the finance act, 1966, which directly falls for consideration in the present case. ..... ii of the finance act, 1966.10. ..... ii of the finance act, 1966, the assessee-company will be an industrial company. ..... ii of the finance act, 1966. ..... ii of the finance act, 1966 ?'2. ..... the court found that there was no statutory definition given of the said expression anywhere in the act and, therefore, it had to fall back upon the general definition of an industrial undertaking. ..... it is by reference to the definitions given in the said dictionary and the said act that the court there concluded that the assessed-firms which had undertaken construction of an irrigation project were industrial undertakings. ..... 109(iii) of the act and hence the company having declared more than 45% as net dividend it was exempt from levy of super-tax at a higher rate of 65%. ..... 104 of the act since it was an industrial company and had distributed more than 45% of its total profits and gains as dividends within the 12 months immediately following the expiry of the previous year. ..... act, 1961 (hereinafter referred to as 'the act') .....

V. Krishnan Vs. M.S. Dhananjayan and Others

Court : Chennai

..... the income tax act, 1961 has been amended in the year 1986 by finance act chapter xxc and thereby ..... the divergent pleadings raised on either side, the learned single judge of this court has framed necessary issues and after contemplating both the oral and documentary evidence, has dismissed the suit, however, directed the defendant to pay a cost of rs.11 lakhs and out of rs.11 lakhs, rs.10 lakhs is payable to the account of i.p.no.53/1992 and balance of rs.1 lakh is payable to the tamil nadu state legal ..... the learned single judge has awarded the cost of rs.11,00,000/- upon the defendant and directed to pay rs.10 lakhs to the official assignee and the remaining rs.1 lakh to the tamil nadu ..... prayer in o.s.a.no.193 of 2007: this appeal is preferred under order xxxvi rule 9 of o.s.rules r/w clause 15 of the letters patent act against the order of this court dated 31.10.2006 in c.s.no.1269 of 1994, insofar as the judgment and decree relates to the findings that the appellant is guilty of abuse of process of court and consequently imposing ..... of the decisions referred to supra, it is made clear that as per section 16(c) of the said act, the entire burden lies upon the plaintiff to prove the statutory duty enjoins upon him. ..... these original side appeals are directed against the judgment and decree dated 3.10.2006 passed by the learned single judge of this court in c.s.no. ..... further it is directed that the official assignee shall settle the claims of power agent p.w.1 venkatesan towards .....

Vodafone International Holdings B.V., a Company Incorporated Under the ...

Court : Mumbai

Reported in : 2009(4)BomCR258; (2008)220CTR(Bom)649; [2009]311ITR46(Bom)

..... cgp) would give rise to a charge to tax in india.iii) the provisions of section 195 of the income tax act, 1961 (the act) and the impugned show cause notice are not extra-territorial in their operation;iv) the petitioner would be an assessee in default even in accordance with the language of section 201 prior to the amendments made by the finance act, 2008; andv) the amendments made by the finance act, 2008 are not violative of article 14 of ..... was selling its 67% stock in india for us$ 11.1 billion, based on an enterprise value of hel of us/$ 18.8 billion and was expected to realize an estimated 'before tax gain' of approximately us$ 9.6 billion from the transaction.20th february, 2007:petitioner's application to the fipb for approval of direct acquisition of 51.96% stock in hel.15th march, 2007:settlement agreement between htil and essar group disclosing htil's agreement to dispose off its 'htil interests' to the petitioner. ..... .e) transfer of management rights:it is clear from the various declarations made supra by htil, that the purpose of transfer of its interest in hel was to enable the petitioner to acquire controlling interest in hel by acquiring 67% direct and indirect equity and loan interest, held by htil through its subsidiaries, in hel and thus acquire the right to manage hel by appointing its own directors on the board. ..... that even where there is failure to deduct tax in accordance with the provisions of that chapter, 'income-tax shall be payable by the assessee direct'. .....

industrial Finance Corporation of India Vs. Commissioner of Income-tax

Court : Delhi

Reported in : [1998]233ITR13(Delhi)

..... 204/35/73-ita-i dated november 12, 1973, issued by the central board of direct taxes interpreting the provisions of section 36(1)(viii) of the income-tax act, 1961, in favor of the assessee, was not to be applied to the assessor's case ..... the question whether the specified percentage of rate is to be applied to the total income (computed before making any deduction under chapter vi-a) before or after making any deduction under section 36(1)(viii) was considered by the central board of direct taxes and in a circular letter no. f. no. ..... section 10 of the finance act, 1985, has amended section 36(1)(viii) of the act with effect from april 1, 1985, so that the total income shall be computed before making any deduction under section 36(1)(viii) also ..... ..... the assessor's claim before the income-tax officer was that the specified percentage of deduction under section 36(1)(viii) should be given on the total income which should be worked out before making any deduction under chapter vi-a and without making any deduction under section 36(1)(viii) ..... under the provisions of section 36(1)(viii) financial corporations engaged in providing long-term finance for industrial or agricultural development in india are entitled to a deduction in the computation of their taxable profit of the amount transferred by them out of such profits to a special reserve account, up to a specified percentage of their total income as computed before making any deduction under chapter vi-a of the income-tax act, 1961. .....

Asstt. Cce and ors. Vs. V. Krishna Poduval and ors.

Court : Kerala

Reported in : (2006)199CTR(Ker)581

..... matter relates to payment of service-tax, interest and penalty under the finance act, 1994, by the respondent in ..... fraud, or(b) collusion, or(c) wilful mis-statement, or(d) suppression of facts, or(e) contravention of any of the provisions of this chapter or of the rules made thereunder with intent to evade payment of service-tax, the person, liable to pay such service-tax or erroneous refund, as determined under sub-section (2) of section 73, shall also be liable to pay a penalty, in addition to such service-tax and interest thereon, if any, payable by him, which shall not be less than, but which shall not ..... cce or, as the case may be, deputy cce in the course of any proceedings under this chapter is satisfied that any person has, with intent to evade payment of service-tax, suppressed or concealed the value of taxable service or has furnished inaccurate value of such taxable service, he may direct that such person shall pay by way of penalty, in addition to service-tax and interest, if any, payable by him, a sum which shall not be less than ..... , but which shall not exceed twice, the amount of service-tax sought to be evaded by reason of suppression or concealment of the value of taxable service or the furnishing of inaccurate .....

Assistant Commissioner of Central Excise Vs. Krishna Poduval

Court : Kerala

Reported in : (2005)199CTR(Ker)581; 2005(4)KLT947

..... matter relates to payment of service tax, interest and penalty under the finance act, 1994, by the respondent in ..... ; or(b) collusion; or(c) wilful mis-statement; or(d) suppression of facts; or(e) contravention of any of the provisions of this chapter or of the rules made thereunder with intent to evade payment of service tax, the person, liable to pay such service tax or erroneous refund, as determined under subsection (2) of section 73, shall also be liable to pay a penalty, in addition to such service tax and interest thereon, if any, payable by him, which shall not be less than, but which shall not exceed ..... may be, deputy commissioner of central excise] in the course of any proceedings under this chapter is satisfied that any person has, with intent to evade payment of service tax, suppressed or concealed the value of taxable service or has furnished inaccurate value of such taxable service, he may direct that such person shall pay by way of penalty, in addition to service tax and interest, if any, payable by him, a sum which shall not be less than ..... , but which shall not exceed twice, the amount of service tax sought to be evaded by reason of suppression or concealment of the value of taxable service or the furnishing of .....