Court : Chennai
Reported in : 2008(228)ELT331(Mad)
..... for a further direction to the respondent to issue final certificate to the appellant under the said scheme.2. the learned single judge, after referring to section 95 of finance (no. 2) act, 1998 has ultimately held that it is true that the word 'pending' would mean 'undecided issues' and a legal proceedings deemed to have been ..... : [2003]260itr86(sc) .4. we heard the learned counsel on either side and perused the materials available on record.5. the very provision section 95(i)(c) of finance (no. 2) act, 1998 which is in respect of tax arrears under any direct tax enactment came up for consideration before the supreme court on more than one occasion ..... and the supreme court held that it is enough that if an appeal or a case is pending though it is irregular or incomplete.6. in the case of cit v. shatrusailya digvijaysingh jadeja : [2005 .....
Tag this Judgment!Court : Karnataka
..... for any assessment year, its profits and gains had not been included by application of the provisions of this section as it stood immediately before its substitution by the finance act, 2000, the undertaking shall be entitled to deduction referred to in this sub-section only for the unexpired period of the aforesaid ten consecutive assessment years: provided further that where an undertaking initially ..... commissioner of income tax, circle 12(3), bangalore. respondent (by sri.jeevan j.neeralgi, advocate) this ita is filed under section 260-a of i.t. act, arising out of order dated 31.12.2007 passed in ita.no.57/bng/2005 for the assessment year 2001-2002 praying to formulate the substantial question of law therein and to allow the appeal and .....
Tag this Judgment!Court : Karnataka
..... at 1 4 source(tds) and also from payment of income tax in view of section 96 of the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 2013 and section 194-la of the income tax act amended vide finance act 67 of 2017 w.e.f 01.04.2017 as well as the cbdt circular dated ..... 5. hindi version of the order shall follow. sd/- (rohit garg) 11.2 subsequently, section 194-la of the i.t. act was amended vide finance act 67 of 2017 w.e.f 01.04.2017 by inserting a second proviso. after the amendment, the section reads as under:- "194la. any person responsible for paying to a resident any sum, ..... as a capital asset. hence, capital gains arising from the transfer. (including compulsory acquisition) of such agricultural land is not taxable. finance (no.2) act, 2004 inserted sec.10(37) in the act from 01.04.2005 to provide specific exemption to the capital gains arising to an individual or a huf from compulsory acquisition of an agricultural land situated in .....
Tag this Judgment!Court : Karnataka
..... at 1 4 source(tds) and also from payment of income tax in view of section 96 of the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 2013 and section 194-la of the income tax act amended vide finance act 67 of 2017 w.e.f 01.04.2017 as well as the cbdt circular dated ..... 5. hindi version of the order shall follow. sd/- (rohit garg) 11.2 subsequently, section 194-la of the i.t. act was amended vide finance act 67 of 2017 w.e.f 01.04.2017 by inserting a second proviso. after the amendment, the section reads as under:- "194la. any person responsible for paying to a resident any sum, ..... as a capital asset. hence, capital gains arising from the transfer. (including compulsory acquisition) of such agricultural land is not taxable. finance (no.2) act, 2004 inserted sec.10(37) in the act from 01.04.2005 to provide specific exemption to the capital gains arising to an individual or a huf from compulsory acquisition of an agricultural land situated in .....
Tag this Judgment!Court : Delhi
..... (a)(ia) is declaratory and curative in nature and it has retrospective effect from 1st april, 2005, being the date from which sub clause (ia) of section 40(a) was inserted by the finance (no.2) act, 2004. in the regular course of assessments, 5. in the present case too, the court is of the opinion that since the amounts received by the ..... ) of the act in effect would ..... payee, i.e., m/s aakriti creation pvt. ltd. were reported by it the disallowance of the entire amounts, under section 40(a)(ia .....
Tag this Judgment!Court : Chennai
Reported in : (2007)209CTR(Mad)246; [2007]289ITR245(Mad)
..... state objecting to the enhancement of compensation was pending were liable to tax?2. whether on the facts and in the circumstances of the case, section 45(5)(c) of the income-tax act inserted by the finance act, 2003 w.e.f. 1.4.2004 is applicable for the assessment years 1997-98 and 1998-99?3. whether on the facts and in ..... cannot be stated that right over the amounts had accrued to the assessee on the date of receipt. the appellate tribunal only considered the effect of amendment to section 45(5) of the act and concluded that the amounts so received by the assessees are chargeable to tax as capital gain on receipt basis, but failed to take note of the fact ..... p.d. dinakaran, j.1. these appeals are directed against the common order dated 21.7.2006 made in i.t.a. nos. 2946 to 2951/mds/2005 of the income tax appellate tribunal madras 'a' bench, raising the following common substantial questions of law:1. whether on the facts and in the circumstances of the case the .....
Tag this Judgment!Court : Delhi
..... year other than that which was the subject-matter of the appeal or the revision, as the case may be.11. when the income tax act, 1961 was enacted, section 153 did not contain the explanations 2 and 3. those explanations were introduced subsequently in 1964 after the supreme court decision in murlidhar bhagwan das (supra ..... for the belief that income has escaped assessment.1. in this case assessment under section 147/148 was completed on 17.2.2005 at an income of rs.249,38,81,974/-. the assessee company is a public financial institution engaged in business of providing finance for rural electrifications.2. information was received from addl. cit, karimnagar range, ..... reassessment or recomputation in consequence of or to give effect to, any finding or direction contained in an order in appeal, reference or revision under the act. similarly, section 153(3)(ii) using the same language as could be seen from the extract made above, provides that no time limit applies for completion of assessment .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
..... advance which had been made without carrying any interest is to be disallowed u/s 36(1)(iii) of the act. 10. the hon'ble jurisdictional high court of delhi in the case of cit vs motor general finance ltd. (2005) 272 itr 550 has held that in respect of advances made by the assessee to its sister concern, the assessing ..... overseas branch, new delhi, which was dishonoured and the assessee company has filed criminal complaint against m/s crest export pvt. ltd. u/s 138 r/w section 142 of the negotiable instruments act, 1981. 6. the ar submitted that the authorities below ignored the above dispute between the assessee and m/s crest export pvt. ltd. and made the ..... as is so considered by him to be excessive or unreasonable shall not be allowed as a deduction. with a view to examine whether as per the provisions of section 36(1)(iii) the assessee should be allowed the deduction of interest paid on unsecured loans from directors and their relatives, the relevant case laws are discussed hereunder: .....
Tag this Judgment!Court : Supreme Court of India
..... years 1998-1999 to 2004-2005. iii) the return of income was filed by the appellants under section 153a of the act for the aforesaid assessment years. iv) an application under section 245c(1) of the act was filed by the appellants before the income tax settlement commission (for short the settlement commission ). v) as per section 245ha, inserted by the finance act, 2007, the application was to ..... be decided by the settlement commission on or before 31.03.2008, failing which the proceedings before the settlement commission shall stand abated. vi) the high court, by way of an interim order, directed the settlement commission to dispose of the application under section 245d of the act by 31.03 .....
Tag this Judgment!Court : Delhi
Reported in : (2008)220CTR(Del)59
..... directed against the order dated 17.02.2005 passed by the under secretary, department of revenue, central board of direct taxes, ministry of finance, government of india (respondent no. 2) whereby the application of the petitioners 1 and 2 under section 10(15a) of the income-tax act, 1961 (hereinafter referred to as 'the said act') was rejected. by way of ..... no. 1 to the respondent no. 3 (jet airways). there is also a prayer for refund of rs 10,98,42,772/- withheld and paid under section 195 of the said act in respect of the lease rents paid by the respondent no. 3 to the petitioner no. 1 being the owner of the aircrafts. there is also ..... that agreement was not available to the petitioner no. 1. however, the petitioner no. 1 realised that it was eligible to claim the benefit under section 10(15a) of the said act and, therefore, it contemplated moving application seeking central government approval which was a necessary pre-condition for availing of the benefit. such an application was moved .....
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