Judgment Search Results Home > Cases Phrase: finance act 2005 section 2 income tax Sorted by: recent Court: allahabad Page 1 of about 20,074 results (0.119 seconds)

Commissioner of Income-tax-i Vs. Pradeshiya Industrial and Investment ...

Court : Allahabad

Reported in : [2010]186TAXMAN131(All)

..... -2001 included the income from leasing operations amounting to rs. 2,56,52,516. these incomes were not includible in the long-term finance as mentioned in the provisions of act for computing deduction under section 36(1)(viii) of the act. if the income of rs. 3,59,98,984 (2,56,52,516 -1,03,46,468) is reduced from the income ..... rajes kumar, j. 1. the present appeal at the instance of the revenue under section 260a of the income-tax act (hereinafter referred to as the 'act') is against the order of the tribunal dated 16-3-2007 in income-tax appeal no. 138/luck./2005 for the assessment year 1996-97.2. the brief facts of the case are that the assessee-opposite party .....

Commissioner of Income-tax Vs. Leather Trends (P) Ltd.

Court : Allahabad

Reported in : [2010]320ITR114(All)

..... was passed on december 4, 1990, that is much before september 30, 2004. it had become final between the parties on the date when section 142a was inserted by the finance (no. 2) act, 2004, as there is nothing on record to show to the contrary.6. we are, therefore, of the considered opinion that the tribunal ..... .5. we find that in the present case, the reassessment proceedings would be hit by the proviso as it also forms part of section 142a of the act, inserted by the finance (no. 2) act, 2004, with effect from november 14, 1972. the proviso has been reproduced above. from the reassessment order, we find that the original ..... the tribunal, vide order dated march 31, 2005, had quashed the reassessment order.2. heard sri r.k. upadhyaya, learned standing counsel for the revenue and sri gaurav mahajan, learned counsel appearing for respondent-assessee.3. relying on the provisions of section 142a of the act which was inserted by the finance (no. 2) act, 2004, with effect from november 14, .....

Committee of Management, Ismail Girls National Inter College Vs. State ...

Court : Allahabad

Reported in : AIR2009All36; 2008(4)AWC3653

..... the information, as asked for, under the act, 2005. none of the submissions of the petitioner can be accepted.10. the writ petition ..... the entire purpose of the act 2005 shall be defeated.8. in view of the foregoing submissions, we are of the considered opinion that the institution is fully covered by the definition of the 'public authority' under section 2(h)(d)(ii) of the act.9. it being substantially financed by the state government, it was obligatory on the part of the institution to provide .....

Commissioner of Income-tax Vs. Sagar Mal Shambhoo Nath

Court : Allahabad

Reported in : (2006)203CTR(All)167; [2008]296ITR440(All)

..... in commissioner of trade tax, u.p. v. kajaria ceramics ltd., reported in air 2005 scw 3450.30. in fact, section 187(2) is in the form of an explanation to section 187(1) of the 1961 act as it merely seeks to define, for the purposes of this section, the phrase 'change in the constitution of the firm'. the object of an explanation ..... 'change in the constitution of the firm' and there is nothing in the section 187 of the 1961 act to exclude the cases where the firm is dissolved. 42. the view which we have taken finds support from the recent decisions of this court in the case of hindustan motors finance co. (supra) and ratan lal garib das (supra).43. in the ..... (2)(a) of the 1961 act as in the new firm there was merely an addition of a partner and in support of his contention he placed reliance upon division bench judgments of this court in the case of commissioner of income-tax v. hindustan motors finance co. reported in : [2005]276itr382(all) and commissioner of income-tax v. ratan lal garib .....

Commissioner of Income-tax, Kanpur Vs. Kailash Auto Finance Ltd.

Court : Allahabad

..... 86,187/-. according to the a.o., the same is not covered by clause (c) of explanation of sub-section 2 of section 115-ja of the income tax act, so he made the addition, but the c.i.t.(a) has deleted the same. the tribunal upholds the ..... section-115ja clearly provides that provisions by whatever name called, will be added to the profit worked out as per profit and loss accounts prepared in accordance with part-ii and iii of schedule-vi of the companies act. he also submits that the assessee is a finance ..... 1. the present appeal is filed by the department against the order dated 14.06.2005, passed by the income tax appellate tribunal, lucknow in i.t.a. no.132/luc/2002 for ..... act. during the course of argument, the learned counsel for the assessee admitted that the assessee's case falls under clause-(f) and not under clause-(c) of the explanation to section-115ja. 10. in view of above, the deduction is not allowable as claimed by the assessee. hence we set-aside the impugned order dated 14.06.2005 .....

Simpkins School Vs. Director General of Income-tax, (Investigation)

Court : Allahabad

..... held: "we shall now consider the effect of insertion of provisos to section 10(23c)(vi) vide finance act, 1998. section 10(23c)(vi) is analogous to section 10(22). to that extent, the judgments of this court as applicable to section 10(22) would equally apply to section 10(23c)(vi). the problem arises with the insertion of the provisos ..... on the ground that the jurisdiction of the petitioner was centralized in the year 2004 in the wake of search and seizure action under section 132(1) of the act. another application before the same ..... (23c)(vi) of the act for the assessment year 2003-04 and 2004-05. another application was filed on 31st may, 2006 before the director general of income tax (investigation), lucknow for the assessment year 2004-05, 2005-06, 2006-07. this application was filed before the director general of income tax (investigation), lucknow .....

Commissioner of Income-tax Vs. Krishi Utpadan Mandi Samiti

Court : Allahabad

Reported in : [2010]186TAXMAN460(All)

..... force for the marketing of commodities, any income derived from the letting of godowns or warehouses for storage, processing or facilitating the marketing of commodities;13. sections 10(20) and 10(29) were deleted by the finance act, 2002 with effect from 1-4-2003. so, only for the assessment year 2003-04 and onwards, the assessee in order to claim exemption required ..... the commissioner is not so satisfied, it shall be applicable from the first day of the financial year in which the application is to be made, which was 1-4-2005 in the case of the assessees.8. regarding the delay after 1-4-2002, it was submitted that the income of the assessee was exempt under the then ..... from 1-3-2006 (assessment year 2006-07) by virtue of proviso (ii) of section 12a(1)(a) of the act (supra). hence, before us the issue for condoning the delay is pertaining to 1-4-2003 to 31-3-2005, i.e., assessment years 2003-04,2004-05 and 2005- 06 (total three years). for condoning the delay for these three years, it .....

Commissioner of Income-tax Vs. Iqbal Hussain

Court : Allahabad

Reported in : [2010]320ITR142(All)

..... for the department and sri ashish bansal learned counsel for the respondent.4. learned standing counsel submits that in view of the provisions of section 142a of the act which was inserted by the finance (no. 2) act, 2004, with effect from november 14, 1972, the assessment proceedings could not have been set aside. the submission is misconceived. the assessment ..... smt. amiya bala paul v. cit : [2003] 262 itr 407?2. the original assessment under section 143(1)(a) of the income-tax act, 1961, was completed on november 19,1992. the reassessment proceeding under section 148 of the act was initiated and on the basis of the report of the district valuation officer investment in the property was ..... has become final between the parties before section 142a was inserted, i.e., september 30, 2004. that being the position we do not find any illegality in the order of the tribunal.5. we mention here that similar view has been taken by this court in i.t.a. no. 476 of 2005, cit v. leather trends p. ltd .....

Oxford Academy for Career Development Vs. Chief Commissioner of Income ...

Court : Allahabad

Reported in : (2009)226CTR(All)606

..... of general public utility not involving the carrying on of any activity for profit.' thus, the scope of the definition was changed for the it act, 1961, specially after an amendment in section 2(15) by the finance act, 1983, w.e.f. 1st april, 1984.22. in the instant case, the assessee is preparing students by providing coaching/guidelines to ..... get admissions in professional institutions to pursue their studies. the sense in which the word 'education' has been used in section 2(15) of the act is the systematic ..... applicable for the years under consideration. for this purpose, he relied on the ratio laid down in the case of cit v. radha kishan goel : (2006) 200 ctr (all) 300 : (2005) 278 itr 454 (all) as well as in the case of virtual soft systems ltd. v. cit : (2007) 207 ctr (sc) 733 : (2007) 289 itr 83 (sc) .....

Commissioner of Income-tax Vs. Obeetee (P.) Ltd.

Court : Allahabad

Reported in : [2009]180TAXMAN582(All)

..... is restricted to the year in question and may not arise in subsequent years as it was allowed under section 154 of the act and not in regular assessment proceeding and, therefore, clause 3 of the circular dated 24-10-2005 will not be attracted.7. respectfully following the decision of this court in the case of rajendra prasad ..... the facts in the circumstances of the case, the tribunal that there was an error apparent on the face of the record and application for rectification under section 154 of the act was maintainable, is legally justified?2. whether on the facts in the circumstances of the case, the tribunal has rightly held that the assessee is entitled ..... question of law.5. sri a.n. mahajan, learned standing counsel, on the other hand, submitted that in the circular dated 24-10-2005 issued by the government of india, ministry of finance, department of revenue, central board of direct taxes, in clause 3, it has been specifically stated that in cases involving substantial questions of law .....