Judgment Search Results Home > Cases Phrase: finance act 1981 section 21 amendment of section 269g Page 1 of about 2,068 results (0.128 seconds)

Areva T and D India Ltd. Vs. Assistant Commissioner of Income Tax and ...

Court : Chennai

Reported in : (2008)220CTR(Mad)156; [2009]177TAXMAN192(Mad)

..... in the meanwhile, the section 54ec was once again amended by the finance act of 2007 with retrospective effect from 1st april, 2006, which reads as follows:explanation: for the purposes of this section-(a)'cost', in relation to any long-term specified asset, means the amount invested in such specified asset out of capital gains received or accruing as a result of the transfer of the original asset;(b)'long-term specified asset' for making any investment under this section during the ..... that long-term specified asset means any bond redeemable after three years and issued on or after the 1st april, 2000 by the national bank for agriculture and rural development established under section 3 of the national bank for agriculture and rural development act, 1981 or by the national highways authority of india constituted under section 3 of the national highways authority of india act, 1988 or on or after the 1st april, 2001, by the rural electrification corporation ltd. ..... explanation (b) defines 'long-term specified asset', which reads as follows:(i) on or after the 1st april, 2000, by the national bank for agriculture and rural development established under section 3 of the national bank for agriculture and rural development act, 1981 (61 of 1981) or by the national highways authority of india constituted under section 3 of the national highways authority of india act, 1988 (68 of 1988);(ii) on or after the 1st april, 2001, by the rural electrification corporation ltd. .....

Coca Cola India Inc. Vs. Assistant Commissioner of Income Tax and ors.

Court : Punjab and Haryana

Reported in : (2009)221CTR(P& H)225; [2009]309ITR194(P& H); [2009]177TAXMAN103(Punj& Har)

..... 1st june, 2007 vide finance act, 2007, amending section 92ca(4) of the act to the effect that order of the tpo would be final and binding on the ao and the ao has to determine the price in conformity with the order of the tpo ..... before we consider the above questions, it will be appropriate to reproduce the relevant statutory provisions of section 92 (unamended), section 147, section 92 (amended) to section 92f (amended).section 92 (unamended):where a business is carried on between a resident and a non-resident and it appears to the ao that, owing to the close connection between them, the course of business is so arranged that the business transacted between them produces to ..... the said provisions have been incorporated vide finance act, 2001 and further amended vide finance act, 2002. ..... the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year.explanation 1-production before the ao of account books or other evidence from which material ..... (1981) 25 ctr 406 sc: (1981) 4 scc 676, play in joints has to be allowed to deal with the complex problems, which do not admit solution through any doctrinaire or straitjacket formula ..... ito : [1981]131itr597(sc) , cit v. b.n .....

Mirje Family Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1986)18ITD25(Pune.)

..... to section 164 was introduced by the finance (no.2) act, 1980 ..... in the case of closely-held companies, statutory percentage was changed by the finance act, 1959, which received the assent of the president on 28-4-1959 with effect ..... act, 1980 prefaces section 1(2) with the remark 'save as otherwise provided in this act, sections 2 to 43 and sections 52 and 53 shall be deemed to have come into force on the 1st day of april, 1980'.the impugned clause is section 27 of the finance ..... reliance was also placed on a special bench decision that the disallowance of expenditure under section 44c of the act which came into effect from 1-6-1976 refers to expenditure incurred after 1-6-1976-american express international banking ..... was introduced in the lok sabha on 18-6-1980 and the act was made operative from 1-4-1980, in terms of section 1(2) of the finance bill. ..... ).the substance of this, notice is that the ito failed to consider the impact of explanation 1 to section 164 of the act inserted by the finance (no. ..... the commissioner, the above provisions when read in the light of the explanation to section 164 (newly added) render the trust liable to assessment as such at maximum rate ..... it was contended that this aspect was accepted in the assessment year 1981-82 and that the document explains the intention of the parties right from ..... later it should be seen from the purpose of determining the real intention of the parties.such amendment is permitted under section 56 of the indian trusts act, 1882. .....

Dlf Universal Ltd. Vs. Appropriate Authority and Another

Court : Supreme Court of India

Reported in : 2000(3)CTC487; 85(2000)DLT367(SC); [2000]243ITR730(SC); JT2000(5)SC469; 2000(4)SCALE351; (2000)5SCC552

..... 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 269uc parliament intended to confer a power on the appropriate authority to go into the legality or ..... , which approved the decision of the delhi high court as follows:sub-section (4) was inserted in section 269uc by the finance act, 1995, with effect from july 1, 1995. ..... sub-section (4) of section 269uc was inserted by finance act, 1995 ..... of sections 269u to 269uo was inserted in the act by the finance act, 1986 ..... after reply was received the appropriate authority by order dated december 11, 1995 held that in view of the provisions of section 6 of the tamil nadu urban land ceiling act the agreement dated september 7, 1995 to transfer entire land including the excess vacant land shall be deemed to be null and void and in that view of the matter appropriate authority could ..... appeals is directed against the judgment dated december 1, 1998 of the division bench of the delhi high court interpreting section 269uc of the income tax act, 1961 (for short, the 'act') and rule 48l and form 37-i of the income tax rules, 1962 (for short, the 'rules')2. ..... no thought was given to amend clause (c) of sub-rule (2) of rule 48l while inserting sub-section (4) of section 269uc of the act. ..... income-tax officer : [1981]131itr597(sc) where the following passage was quoted with approval:the court observed that the task of interpretation of a statutory enactment is .....

Dlf Universal Ltd. Vs. Appropriate Authority and anr. Etc.

Court : Supreme Court of India

Reported in : (2000)160CTR(SC)401

..... 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 269uc parliament intended to confer a power on the appropriate authority to go into the legality ..... consisting of sections 269u to 269uo was inserted in the act by the finance act, 1986 with ..... sub-section (4) of section 269uc was inserted by finance act, ..... 12 appeals is directed against the judgment dated 1-12-1998 of the division bench of the delhi high court interpreting section 269uc of the income tax act, 1961 (hereinafter referred to as 'the act') and rule 48l and form 37i of the income tax rules, 1962 (hereinafter referred to as 'the 'rules ..... pertains to immovable property and amounts to transfer of immovable property within the meaning of clauses (d) and (f) of section 269ua high court, after examining the terms of the agreement and the provisions of chapter xx-c, reached various findings in paragraph 28 of the judgment, which we reproduce: 'to sum up, our findings are: -(i) agreement for transfer as defined in clause (a) of section 269 ua refers to an agreement which is entered into privately between the parties thereto; such an agreement may ..... thought was given to amend clause (c) of sub-rule (2) of rule 48l while inserting sub-section (4) of section 269uc of the act. ..... income tax officer : [1981]131itr597(sc) where the following passage was quoted with approval:'the court observed that the task of interpretation of a statutory .....

Mysore Sales International Ltd. Vs. Deputy Commissioner of Income Tax ...

Court : Karnataka

Reported in : (2003)185CTR(Kar)417; [2004]265ITR498(KAR); [2004]265ITR498(Karn)

..... section 44ac was introduced in terms of direct tax (amendment) act of 1981 ..... terms of the finance act, 1992, section 44ac was omitted. ..... after noticing large scale tax evasion in liquor trade, the parliament in its wisdom provided for deduction at source in the case of various tax-payers including certain category of dealers.section 206c is a special provision providing for collection from the buyer of any goods of nature specified in column 2 of the table below a sum equal to the percentage specified in the corresponding entry in column 3 of the ..... stated by the department that the process of auction by the excise department of the government and the purchase of goods by the successful excise contractors from the petitioner are not at all two distinct and independent acts as erroneously presumed by the petitioner, but, on the other hand, there exists an inextricable and non-detachable link between the two inasmuch as a successful excise contractor can alone purchase arrack from the petitioner. ..... in that case, the petitioner filed petitions praying for writ of mandamus directing the respondents not to deduct tax at source under section 206c of the it act from the petitioner who are holding l-13 licences treating them as buyers where goods have not been obtained by them by auction and where sale price of such goods to be sold by them is fixed by ..... especially the case with a finance act. ..... were inserted by finance act, w.e.f. ..... terms of the finance act, of 1988, section 206c was introduced. .....

Shri Sanjeev Malhotra Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2004)91ITD76(Delhi)

..... out of india during the previous year relevant to the assessment year but vide subsequent amendment in finance act 1985 w.e.f. ..... and (ii) in respect of such trading goods as reduced by the direct and indirect costs attributable to export of such trading goods: provided that the profits computed under clause (a) or clause (b) or clause (c) of this sub-section shall be further increased by the amount which bears to ninety per cent of any sum referred to in clause (iiia) (not being profits on sale of a licence acquired from any other person), and clauses (iiib) and ..... further establishes that the assessee had ever halted its business activities and is in the business of exports.besides, it may also be mentioned that section 80hhc when it was first introduced by the finance act w.e.f. ..... were no fresh exports by the appellant during the year it cannot be said that the assessee does not satisfy the condition laid down in section 80hhc (2) of the act.section 80hhc (2a) of the act provides that sale proceeds of such goods or merchandise exported out of india should be received in or brought into india by the assessee ..... also submitted that the observations of the assessing officer that since there is no export of goods or merchandise during the year, the assessee cannot be said to be entitled for deduction under section 80hhc is not correct.after having perused the copy of the invoice filed wherein the two terms namely "gift samples" & "trade samples" are mentioned, i find that the term "gift ..... 1981 .....

Chandra Estates Ltd. Vs. Union of India and ors.

Court : Delhi

Reported in : (2001)165CTR(Del)98

..... enacted, by income tax (amendment) act, 1981, section 269ab was inserted with effect from 1-7-1982, and section 269rr was inserted by finance act, 1986 with effect from ..... the transactions referred in the words bracketed) a person acquires any right with respect to a building to be constructed, that right is to be considered on par with the right created by an agreement covered by section 53a of the transfer of property act, because section 269ab(1)(a) ropes in transactions to which section 53a of transfer of property act applies .........the difficulty of understanding the concept of 'transfer' as defined in section 269a(2)(h), is the difficulty due to the abstract rights covered by the statutory definition. ..... we may here mention that subsequently chapter xx-c was inserted by the finance act, 1986 with effect from 1-10-1986, providing for purchase by central government of immovable properties in certain cases of transfer and, thereforee, chapter xx-a relating to acquisition of immovable properties in certain cases ceased to ..... section 6 nor in any other section of the amending act was, it mentioned that the act ..... and liabilities shall be construed to be prospective in operation, unless, otherwise provided, either expressly or by necessary implication.we are unable to accept the contention of the respondent state that section 6 of the amending act of 1974 is retrospective. ..... to amend clause (c) of sub-rule (2) of rule 48l while inserting sub-section (4) of section 269uc of the act. .....

In Re: Rashtriya Ispat Nigam Ltd.

Court : Authority for Advance Rulings

..... vs.income tax act, 1961 - sections 32, 32(2), 32a(3), 72 to 74a, 74a(3), 80j(3), 115j, 115j(1), 115j(2), 115jb, 115jb(2), 115jb(3), 119, 135j(2) and 245q(1); companies act, 1956 - sections 205, 205(1) and 205(2); companies (amendment) act, 1960; income tax rules; finance act, 1987 - section 43; electricity actsurana steels p. ..... applicant has the option to set off the current year's profit against the loss brought forward or unabsorbed depreciation, in its accounts, in a manner different from the manner adopted for determination of "book profit" under section 115jb (b) whether the applicant has discretion to set off the current year's profit, either against the loss brought forward or unabsorbed depreciation in the event of such set-off being made by the applicant in one ..... [section 43 of the finance act, 1987.] 22. ..... in a manner most beneficial to it (d) whether it is open to the applicant to set off the current year's profit against the loss brought forward or unabsorbed depreciation in a manner most beneficial to it subject, however, to the provisions of sub-section (2) and whether such adjustment can be changed from year to year (e) whether the applicant can change the method of setting off the current year's profit against loss brought forward or unabsorbed depreciation from year to ..... ito [1981] 131 itr 597 (sc), 612; union of india v. .....

Larsen and Toubro Ltd. Vs. State of Bihar and ors.

Court : Patna

..... number of other pleadings were raised by the petitioners in the writ applications, however, the argument was confined to the follow up legislation to section 21(1)(a)(i) of the bihar finance act, 1981 prescribing the 'manner and extent of deduction'. ..... the supreme court after appreciating the rival contentions observed that in view of the legal fiction introduced by the amendment, a single contract would become divisible one and to give the value of the goods involved in the execution of a works contract on which tax is leviable must exclude the charges which appertain to the contract for supply of ..... the supreme court observed as under: 'keeping in view the legal fiction introduced by the forty-sixth amendment whereby the works contract which was entire and indivisible has been altered into a contract which is divisible into one for sale of goods and other for supply of labour and services, the value of ..... the supreme court in the present matter referred to the historic background leading to the enactment of 46th amendment and also referred to the judgment of the supreme court in the matter of builders association of india [1989] 73 stc 370 (sc). ..... the supreme court also observed that since not less than one-half of the state legislature had ratified the constitution (46th amendment) bill, 1981 in accordance with the provisions of the proviso to article 368(2) of the constitution of india, the constitution (46th amendment) act, 1982 is valid. .....