Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: delhi Page 12 of about 2,077 results (0.072 seconds)

D.K. Gupta Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the limited purpose of proceedings under ss. 132(5) and 132(11) and cannot be invoked by the ao for making such additions in block assessment under chapter xiv-b as inserted by the finance act, 1995, w.e.f. 1st july, 1995, prescribing special procedure for assessment of such cases by ignoring the provisions of ss. 68, 69, 69a, 69b and ..... of account. it is still lying vacant. as regards the property k-52, green park, new delhi the assessee acted only as an estate agent and got a commission of rs. 22,000. however, the property deal was partly financed by the assessee and a payment of rs. 16.80 lakhs was made to the owner which was ultimately recovered from ..... 69c of the act. in support of this proposition, he placed reliance on allahabad high court judgment in the case of pushkar narain saraf vs. cit (1990) 183 itr .....

Tedco Investment and Financial Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

..... ac 935 p. 945 and rajnarain singh 's case (supra) was misplaced.it was further stated that the reliance on section 43d substituted by finance act, 1999 with effect from 1-4-2000 was also misplaced which is in respect of public financial institutions, scheduled banks and is not applicable to ..... perusal of these sections clearly brings out the fact that section 45q in unambiguous language enunciates the intention of the legislature by stating that the provisions of chapter iiib shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any ..... enactment" and claiming further prudential norms are delegated legislation to reserve bank of india are all irrelevant and misconceived and so to be ignored. chapter iii-b of the reserve bank of india act, 1934 containing 22 sections (including 2 repealed sections 45-o and 45b) applied to the assessee, being nbfc, along with prudential norms issued .....

Dy. Cit Vs. Srei International Finance Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... pointed out by the learned counsel for the assessee that the provisions of section 14a as it stood after the introduction of sub-section (2) thereto by the finance act, 2000 with effect from 1-4-2007, the assessing officer has been specifically empowered to make an estimate. by implication, such a power did not exist with ..... by way of provision for losses of subsidiary companies; or (f) the amount or amounts of expenditure relatable to any income to which any of the provisions of chapter iii applies;" the purpose behind introduction of provisions of section 115ja was to tax, "zero tax companies". section 115ja enacts deeming provisions of overriding nature. the purpose behind ..... in the total income in view of the provisions of section 10(33) of the act. in view of the provisions of section 14a of the income tax act which lays down that while computing total income under chapter iv of the act no deduction should be allowed in respect of expenditure incurred by the assessee in relation to .....

Orissa Cement Ltd. Vs. the Central Board of Direct Taxes and ors.

Court : Delhi

Reported in : ILR1971Delhi51B; [1972]84ITR451(Delhi)

..... payable upon a self assessment as contended by the petitioner. this section appears in chapter xxii-b of the act relating to tax credit certificates. this chapter comprises of sections 280y to 280ze and was inserted by the finance act, 1965 with effect from april 1, 1965. the petitioner is a public limited ..... company and carries on business. inter alia, of the manufacture and sale of cement and refractories etc. it manufactures and produces articles which are mentioned in the 1st schedule to the .industries (development & regulation) act ..... allowance for any relief, rebate or deduction in respect of income-tax to which the company is entitled under the provisions of the act or the annual finance act and after making deduction as specified in this explanationn. on the basis of these provisions it is contended that computation cannot mean .....

Jyotsna Holdings Pvt. Ltd. Vs. Designated Authority Under the Kar Viva ...

Court : Delhi

Reported in : 2000IVAD(Delhi)461; 2000(53)DRJ696; [2000]243ITR246(Delhi)

..... taking up the afore noted questions for consideration, it would be necessary to briefly refer to the relevant provisions of the finance act. as noted above, the scheme is contained in chapter (iv) of the finance (no. 2) act, 1998, comprised in sections 86 to 98 (both inclusive) as also a schedule thereto. section 88 provides that subject ..... the petitioner only on the basis of their declaration, the amount now determined to be payable under the scheme could be recovered? 31. section 90 of the finance act vests jurisdiction in the designated authority to 'determine' the amount payable by the declarant under the scheme. according to the black's law dictionary the term ' ..... petitioner took the matter in further appeal to the tribunal. while the appeal was pending, the government of india introduced the kvss, contained in chapter iv of the finance (no. 2) act, 1998, with a view to provide a quick and voluntary settlement of tax arrears outstanding as on 31st march, 1998. initially the scheme was .....

Vatika Farms Private Limited Through Its Director, Sh. Anil Bhalla and ...

Court : Delhi

Reported in : (2008)216CTR(Del)25; 2008(102)DRJ88

..... learned additional solicitor general appearing on behalf of the respondents to place before us the statement of objects and reasons for enacting the amendments to the act by the finance act, 2007. the learned additional solicitor general informed us that there is no statement of objects and reasons for making the amendments. the learned additional solicitor ..... to dispose of the writ petitions finally but only dispose of the applications as mentioned above.procedure prior to 1st june, 20079. broadly, chapter xixa of the act deals with settlement of cases and this chapter, as it stood prior to 1st june, 2007, entitled the petitioners to move a settlement application under section 245c of the ..... act containing a full and true disclosure of their income, which had not been earlier disclosed before the assessing officer and to have .....

G.S.Marketing Company Vs. Archana Arora and ors

Court : Delhi

..... of the year 2005-06.3. it is averred that section 3 of the 1975 act has been substituted w.e.f. 1.3.2005 vide section 72 of the finance act, 2005 read with the declaration made under the provisional collection of taxes act, 1931 with finance bill, 2005. the new provision, as contended, enables the government to impose an additional ..... government in supersession of the notification of the government of india, ministry of finance, department of revenue no.19/2005- customs dated 1.3.2005 directed that all goods specified under the chapter, heading, sub-hearing or tariff item of the first schedule to the said act, having regard to the sales tax, value added tax, local tax and ..... forth by the appellant therein that there was a policy by which power driven pumps as well as parts thereof had been exempted from payment of excise duty since 1978 and that it was the consistent practice of the department and the policy had never been changed. it was also proponed that there was no change of policy .....

Bausch and Lomb Eyecare (India) Pvt. Ltd. and Another Vs. The Addition ...

Court : Delhi

..... section 92ca of the income tax act, 1961 by finance act, 2012. (ii) whether amp expenses incurred by the assessee in india can be treated and categorized as an international transaction under section 92b of the income tax act, 1961? (iii) whether under chapter x of the income tax act, 1961, a transfer pricing ..... ) the bright line test was judicial legislation. by validating the bright line test the special bench in lg electronics case (supra) went beyond chapter x of the act. even international tax jurisprudence and commentaries do not recognise blt for bifurcation of routine and non-routine expenses. (ix) segregation of aggregated transactions ..... an international transaction 51. the central issue concerning the existence of an international transaction regarding amp expenses requires the interpretation of provisions of chapter x of the act, and to determine whether the revenue has been able to show prima facie the existence of international transaction involving amp between the assessee and .....

Honda Siel Power Products Limited Vs. Deputy Commissioner of Income Ta ...

Court : Delhi

..... amendment to section 92ca of the income tax act, 1961 by finance act, 2012. (ii) whether amp expenses incurred by the assessee in india can be treated and categorized as an international transaction under section 92b of the income tax act, 1961? (iii) whether under chapter x of the income tax act, 1961, a transfer pricing adjustment can be ..... be impermissible. (viii) the bright line test was judicial legislation. by validating the bright line test the special bench in lg electronics case went beyond chapter x of the act. even international tax jurisprudence and commentaries do not recognise blt for bifurcation of routine and non-routine expenses. (ix) segregation of aggregated transactions requires detailed ..... price with the alp. rules 10b, 10c and the new rule 10ab only deal with the determination of the alp. thus for the purposes of chapter x of the act, what is envisaged is not a quantitative adjustment but only a substitution of the transaction price with the alp. 70. what is clear is that .....

ANZ Grindlays Bank Vs. Deputy Commissioner of Income-tax

Court : Delhi

..... the head "salaries" if (a) the same are payable outside india and (b) if tax has not been paid or deducted thereon under chapter xvii b of the act. the said clause (iii) was substituted by virtue of the finance act, 2003 with effect from 1st april 2004. by virtue of the aforesaid amendment, the rigor of sub clause (iii) of clause (a) of ..... however, the pre-condition for depositing the tax within the time prescribed under section (i) of section 200 was retained in sub-clause (i) and (ia). thereafter, by virtue of finance act (no.2), 2014, sub clause (i) was further amended and the principal condition of depositing tax in respect of payments made in india was amended and instead of the pre ..... would be well within his powers to do so. in the present case, the reliance placed by the cit (a) on the decision of addl. cit v. gurjargravures (p.) ltd. [1978] 111 itr 1 (sc) is mis-placed as in that case neither any claim was made before the ao nor was there any material on record to support the claim .....