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Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court : Supreme Court of India

..... , w.r.e.f. 01.04.1990/w.e.f. 01.04.1992; and finance act, 2000, w.e.f. 1-4 ..... act, 1987, w.e.f. 01.04.1989; direct tax laws (amendment) act, 1989, w.e.f. 01.04.1989; substituted by the direct tax laws (amendment) act, 1989, w.e.f. 01.04.1990; and further amended by the finance (no.2) act, 1991, w.r.e.f. 01.04.1990; finance act, 1992 ..... 4)20 (as it originally stood in the it act, 1961), section 11(4a)21 was inserted by the finance act, 1983, w.e.f. 01.04.1984. subsequently, section 11(4a) was amended and substituted by the following provision w.e.f. 01.04.1992 (and continues to be in force): ( ..... 11, the words "property held under trust" "includes a business undertaking so held". section 11(4a) as amended by the finance (no.2) act, 1991 w.e.f. 01.04.1992 reads as under:- "(4a) sub-section (1) or sub-section (2) or sub-section (3) or sub-section .....

Engineering Analysis Centre Of Excellence Private Limited Vs. The Comm ...

Court : Supreme Court of India

..... in advance, where it is so deductible or payable under any provision of this act. 14 substituted by the finance act 1992 (18 of 1992), sec. 3(c) (w.e.f. 1-6-1992). 28 5. scope of total income. (1) subject to the provisions of this act, the total income of any previous year of a person who is a resident ..... which the transferee acquires without any modification. in any case, this notification being issued on 13.06.2012, i.e., after explanation 4 was inserted vide the finance act 2012, it would not assist the revenue in asserting that explanation 4 clarifies the legal position as it always stood. 11380. the learned additional solicitor general then argued ..... the prevention of fiscal evasion with respect to taxes on income,43 [ india-finland dtaa ].. after setting out the rationale for the clarificatory amendment made vide the finance act 2012, the high court held : he, thus submitted that the question of copyrighted article or actual copyright does not arise in the context of software both in .....

The Karur Vysya Bank Ltd., Karur Vs. The Commissioner of Income-Tax, T ...

Court : Chennai

..... the value of the assets, while part-b dealt with the general rules for exclusive valuation of immovable property. part-c was, in fact, omitted by the finance act, 1992, which was brought into force with effect from 1.4.1993. part-d dealt with the valuation of the assets of business. we are concerned in this case ..... 1) scc 822}. 10. therefore, carrying on the core business of banking certainly answers industrial activity . though in the context of the applicability of the industrial disputes act, 1947, such an interpretation has been placed, but we do not see any justifiable reason to disregard such a meaning assigned to the banking activity for purposes of ..... of doubt that banking business activity carried on by entities like the assessee have firmly been recognised as industrial activity, no doubt for purposes of industrial disputes act, 1947, in the context of retrenchment of employees working in such banking institutions, the question came to be examined and it was answered that those who .....

M/s. Hotel Paras Garden and Another Vs. Central Bank of India, Balapur ...

Court : Mumbai Nagpur

..... of respondent no.3 is un-sustainable, as it violates provisions of rule 68-b of the second schedule to income tax act. the said provision has been inserted by the finance act 1992 w.e.f. 01.06.1992 and time limit of 3 years stipulated therein has been extended to 4 years on 01.03.1996. these developments are therefore, ..... before coming into force of the 1993 act, which adopted said second schedule for recovery. perusal of rule 68b shows that immovable property cannot ..... by shri harish nilkanthrao bante, on 02.04.2013 and filed here for this purpose. 18. the provisions relating to recovery are contained in chapter-v of drt act ie1993 act. it is titled as recovery of debt determined by tribunal ?. section 25 therein is about modes of recovery of debts. as per the said provision, recovery officer .....

The Commissioner of Income Tax Ii Vs. Kuldeep Singh

Court : Delhi

..... of the transfer of the original asset expires ; and (ii) theassessee shall be entitled to withdraw such amount in accordance with the scheme aforesaid. explanation.--omitted by finance act, 1992, wef 14-1993. 7. it is accepted position and it is not disputed by the revenue that rs.37,86,273/- had been invested by the assessee ..... in this appeal which pertains to assessment year 2006-07 submits that the assessee, an individual has been wrongly granted benefit of section 54 of income tax act, 1961 (act, for short). the respondent assessee contrary to the statutory mandate, it is submitted had not purchased the second property within two years from the date of ..... became separate ownership for price paid would be covered by the word purchase . it was observed that the word purchase used in section 54 of the act should be interpreted pragmatically in a practical manner and legalism shall not be allowed to play and create confusion or linguistic distortion. the argument that purchase primarily .....

The Commissioner of Wealth Tax, Thiruvananthapuram Vs. Associated Indu ...

Court : Kerala

..... m) allowed the claim against which revenue has filed these appeals. 3. we have considered the controversy in hand. it is worthwhile to note that by finance act, 1992, wealth tax act was drastically amended with effect from assessment year 1993-94 providing for wealth tax only on non-productive assets like urban land and the liability on wealth ..... "(m) "net wealth" means the amount by which the aggregate value computed in accordance with the provisions of this act of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date ..... whether the funds borrowed from the directors for releasing mortgage over the said land is allowable deduction in the computation of net wealth under section 2(m) of the act. since the dispute is in respect of the scope of "net wealth" under section 2(m), we extract below the said provision for easy reference as follows: .....

Director of Income Tax Vs. Aparna Ashram

Court : Delhi

..... (4) from the stage at which the proceedings stood at the time of such discontinuance or dissolution, and all the provisions of this act shall, so far as may be apply accordingly. explanation.--omitted by finance act, 1992, wef 1-4-1993. (the amendment to the subsection 1 inserted w.e.f. 01.04.1989 has been underlined for the sake ..... however, he has confirmed the orders of assessment passed for the assessment years 1981-82 to 1983-84, keeping in view the amendment effected to the wealth-tax act by the finance act, 1981, by which amendment section 21aa is inserted with effect from april 1, 1981, which is applicable for and from the assessment year 1981-82. now that ..... case the plea of the revenue is accepted, they would be a conflict between section wta 10/2006 page 18 of 21 21aa and then section 40 of the finance act, 1984, which reintroduced wealth tax on companies in a limited manner. if the interpretation of the revenue is accepted, all companies/societies were always liable to pay wealth .....

The Commissioner of Income Vs. Shri Vardhman Overseas Ltd

Court : Delhi

..... amended clause(a) of sub-section (1) of section 41 may not be relevant after substitution of the said clause by the finance act, 1992 with effect from 1st april, 1993, by which the words some benefit in respect of such trading liability by way of remission or ..... (1) since the ita no.774/2009 page 9 of 31 explanation 1 to section 41(1) which was introduced by the finance (2) act, 1996 w.e.f. 1.4.1997 was not being relied upon by him. according to him, the writing back of ..... 31.2. the brief facts giving rise to the present appeal filed by the revenue under section 260a of the income tax act, (`the act' for short) may be noticed. the assessee is a company engaged in the manufacture of rice from paddy and also selling ..... assessing officer specifically noted that the amounts were being treated as unexplained credits in the books of accounts under section 68 of the act since the liabilities were not proved by the assessee. in the computation of the income also the addition was made with the narration .....

Secretary of State for Communities and Local Government and Another (R ...

Court : UK Supreme Court

..... omitted to register any member of the household for the payment of council tax for the period 2002-2006, contrary to section 6 of the local government finance act 1992, and he failed to comply with a number of the requirements of the building regulations (si 2000/2531) with regard to the construction of the dwelling ..... for a lawful development certificate, the secretary of state in december 2010 published the localism bill which, if enacted, will by section 104 amend the 1990 act by inserting three new subsections (171ba, 171bb, and 171bc) expressly to deal with issues of concealment. without wishing to comment on the details of these provisions ..... faith). if a statutory benefit is given only if a specified condition is satisfied, it is presumed that parliament intended the benefit to operate only where the required act is performed in a lawful manner. . 1453. illegality. .. unless the contrary intention appears, an enactment by implication . imports the principle of legal policy embodied .....

Commissioner of Income Tax, Kanpur Vs. Sahara India Savings and Invest ...

Court : Supreme Court of India

Reported in : (2009)227CTR(SC)425; [2010]321ITR371(SC); 2009(14)SCALE188; [2010]186TAXMAN19(SC)

..... . 1.4.1993. according to the department, during the assessment year 1992- 93, respondent herein stood covered under sub-clause (vi) of section 2 ..... not an equipment leasing company, a hire purchase finance company, a house finance company, an insurance company, an investment company, a loan company and a mutual benefit financial company. according to the department, respondent herein fell under 'miscellaneous finance company' in terms of section 2(5b)(vi) of the 1974 act. according to the department, this finance act, 1992 operated prospectively and that too w.e.f .....