Court : Delhi
Reported in : 2004(73)DRJ168; 2004(94)ECC332; 2004(175)ELT89(Del)
..... the prescribed form, in respect of every month within the said period.7. breach or contravention of these obligations attract penalty/interest under section 38 of the act. section 38 (as amended) by the finance act, 1997, insofar as it is relevant for the present case, reads as under:'(3) every carrier or other person who fails to pay the foreign travel ..... may be adjudged, collected and paid to the credit of the central government by such authority and in such manner as may be specified in the rules made under this chapter: provided that no order for imposing a penalty shall be passed by such authority unless the carrier or other person on whom the penalty is proposed to be imposed is ..... fifth but which may extend to three times of the amount of the tax not so paid to the credit of the central government.4. any rule made under this chapter may provide that in case of breach thereof by the carrier or other persons, he shall be liable to a penalty which shall not be less than five hundred .....
Tag this Judgment!Court : Gujarat
Reported in : [1992]194ITR659(Guj)
..... refund, was inserted by the finance act, 1968, with effect from april 1, 1968, and sub-section (1) was substituted with effect from april 1, 1976, by the taxation laws (amendment) act, 1975. under the said provision, where the assessee claimed that the tax plaid or deemed to have been paid under chapter xvii-b or chapter xvii-c exceeded the tax ..... him to commence a proceeding even though at the date when he issued notice, it was within the period provided by that amending act. the supreme court, found that the legislature had given to section 18 of the finance act, 1956, a limited retrospective operation, that is, up to april 1, 1956, only and, in the absence of any ..... commence a proceeding for assessment against the assessee as an agent of a non-resident party under the income-tax act, before it was amended, ended on march 31, 1956. though, under the amending act, by section 18 of the finance act. 1956, authority was conferred upon the income-tax officer to assess a person as an agent of a .....
Tag this Judgment!Court : Authority for Advance Rulings
Reported in : (2007)289ITR369AAR
..... controversy in this case centres round the scope of fbt, it will be apposite to refer to the material provisions of the act. by the finance act, 2005 chapter xii-h which comprises of sections 115w to 115wl, was inserted in the act w.e.f. 1st april, 2006. 115wa. charge of fringe benefit tax - (1) in addition to the income ..... of 2005 on 29th aug., 2005 to clarify the scope of the charge of fbt and the provisions contained in the said chapter. para 1 of the circular which is introductory is in the following terms: the finance act, 2005 has introduced a new levy, namely, fringe benefit tax (hereafter referred to as fbt) on the value of certain ..... fringe benefits. the provisions relating to levy of this tax are contained in chapter xii-h (sections 115w to 115wl) of the it act, 1961. this circular seeks to provide a harmonious, purposive and contextual interpretation of the provisions of the finance act, 2005 relating to the fbt so as to further the objective of this levy.question .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2002)81ITD127(Delhi)
..... or declaratory to the existing provisions. it was further noted that there appeared to be some ambiguity to even the explanation added by finance (no. 2) act, 1991 and which was cured by the subsequent finance act, 1994 which provided for a proportionate amount to be taken into account on which deduction could be claimed by tout operators, agents of foreign ..... the assessee had not included that amount on this conversion of foreign exchange into indian currency to their p&l a/c. section 80ab of the act provides that deduction under chapter vi-a can only be allowed if the income of the nature specified in that section in which claim is made, is included in the gross ..... amount had passed through p&l a/c. further inviting our attention to section 80ab, the learned departmental representative pointed out that all the deductions under chapter vi-a of the act are to be claimed if that income is included in the gross total income of the assessee. the assessee had not included the above referred to .....
Tag this Judgment!Court : Delhi
..... the passport office. thus, the inference of escaped income is based upon materials gathered from extraneous sources and not from search. section 158bb (subsequent to amendment by the finance act, 2002 w.e.f. 01.07.1995) states how the undisclosed income of the block period needs to be computed on the basis of evidence found as a ..... in the form of section 158ba (2) is inserted making it ita1192004 & 423/2004 page 18 of 28 a charging section. thus, a diagnostic of chapter xivb of the act leads to irresistible conclusion that it contains all the provisions starting from charging section till the completion of assessment, by prescribing special procedure in relation thereto, making it ..... and the details of the gifts had been disclosed for the assessment year 1994-95, could not be held as an undisclosed item on the part of the assessee and thus, not falling for consideration under chapter- ita1192004 & 423/2004 page 5 of 28 xiv-b of the act.7. the other ground deals with an addition of `10,00, .....
Tag this Judgment!Court : Delhi
..... the passport office. thus, the inference of escaped income is based upon materials gathered from extraneous sources and not from search. section 158bb (subsequent to amendment by the finance act, 2002 w.e.f. 01.07.1995) states how the undisclosed income of the block period needs to be computed on the basis of evidence found as a ..... in the form of section 158ba (2) is inserted making it ita1192004 & 423/2004 page 18 of 28 a charging section. thus, a diagnostic of chapter xivb of the act leads to irresistible conclusion that it contains all the provisions starting from charging section till the completion of assessment, by prescribing special procedure in relation thereto, making it ..... and the details of the gifts had been disclosed for the assessment year 1994-95, could not be held as an undisclosed item on the part of the assessee and thus, not falling for consideration under chapter- ita1192004 & 423/2004 page 5 of 28 xiv-b of the act.7. the other ground deals with an addition of `10,00, .....
Tag this Judgment!Court : Mumbai
Reported in : (2006)205CTR(Bom)28; [2006]284ITR463(Bom)
..... the affairs of, any office outside india; and(d) such other matters connected with executive and genet administration as may be prescribed.6. section 44c was inserted by the finance act no. 66 of 1976, with effect from june 1, 1976, because foreign companies operating through their branches in india used to inflate head office expenses in order to reduce ..... 1) of the actarguments:4. mr. r.v. desai learned senior counsel appearing on behalf of the department, contended that the object of section 44c which was inserted by the finance act of 1976 with effect from june 1, 1976 has been explained by circular no. 202 dated july 5, 1976 (see [1976] 105 itr 17). that, as per the ..... sub-section (2) of section 73 or sub-section (1) or sub-section (3) of section 74 or sub-section (3) of section 74a or the deductions under chapter vi-a;(ii) 'average adjusted total income' means,-(a) in a case where the total income of the assessee is assessable for each of the three assessment years immediately preceding .....
Tag this Judgment!Court : Mumbai
Reported in : (2003)185CTR(Bom)168; [2003]263ITR590(Bom)
..... outside india ; and (d) such other matters connected with executive and general administration as may be prescribed.' 6. section 44c was inserted by section 10 of the finance act no. 66 of 1976, with effect from june 1, 1976. the object and the scope of section 44c was explained by the central board of direct taxes vide circular ..... ) of section 72 or sub-section (2) of section 73 or sub-section (1) of section 74 or sub-section (3) of section 74a or the deductions under chapter via; (ii) 'average adjusted total income' means,-- (a) in a case where the total income of the assessee is assessable for each of the three assessment years immediately ..... total income/average adjusted total income. the expression 'adjusted total income' has been defined to mean the total income computed in accordance with the provisions of the act without giving effect to the stipulated allowance/deduction. now in the present case, the adjusted total income is nil on account of the loss suffered by the assessee .....
Tag this Judgment!Court : Mumbai
Reported in : [2003]132TAXMAN93(Bom)
..... of, any office outside india; and(d) such other matters connected with executive and general administration as may be prescribed.'section 44c was inserted by section 10 of the finance act no. 66 of 1976 with effect from 1-6-1976. the object and the scope of section 44c was explained by cbdt vide circular no. 202, dated 5- ..... section (2) of section 73 or sub-section (1) or sub-section (3) of section 74 or sub-section (3) of section 74a or the deductions under chapter vi-a;(ii) average adjusted total income means,(a) in a case where the total income of the assessee is assessable for each of the three assessment years immediately preceding ..... the adjusted total income/average adjusted total income. the expression 'adjusted total income' has been defined to mean total income computed in accordance with the provisions of the act without giving effect to the stipulated allowance/deduction. now in the present case the adjusted total income is nil on account of the loss suffered by the assessee during .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2008BusLR469(SC); (2008)216CTR(SC)289; [2008]301ITR309(SC); 2008(8)SCALE223; 2008AIRSCW4096
..... employees from their residence in home country to the place of work and back is liable to fringe benefit tax?5. chapter xii of the act providing for income tax on fringe benefits was inserted by the finance act, 2005. it came into force with effect from 1.4.2006.6. section 115w defines 'employer' and 'fringe ..... by such employer.section 115wb consists of three sub-sections, the relevant clauses whereof read as under:section 115wb - fringe benefits (1) for the purposes of this chapter, 'fringe benefits' means any consideration for employment provided by way of-(a) any privilege, service, facility or amenity, directly or indirectly, provided by an employer, ..... and natural gas commission, a public sector undertaking, on or about 10.10.2003. it filed an application under section 245q(1) of the income tax act, 1961 before the authority for advance ruling (aar) on the following question:whether transportation cost incurred by the petitioner in providing transportation facility for movement of .....
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