Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Page 13 of about 354,094 results (0.694 seconds)

Principal Commissioner of Income Tax-7 vs.oriental International Co. P ...

Court : Delhi

..... it is to be further noted that mere denial by sh. suresh chand garg would not ipso facto lead to the conclusion that the transaction was hit by section 68 of the act. we therefore uphold the deletion of addition with respect to the share subscribers m/s creative financial services pvt. ltd. 8. learned counsel for the revenue ..... money of the assessee company which was routed through the share subscriber company. the hon'ble delhi high court in the case of cit vs. divine leasing and finance ltd., 299 itr268 observed that if the ao fails to unearth any wrong or illegal dealings, he cannot adhere to his suspicion and treat the subscribed capital as ..... from each company; pan card details; copies of the memorandum and articles of association; forms 18 and 32 and audited financial statements for the years 2004, 2005 and 2006; copies of pay orders which were used for the share application money. in addition, affidavits of directors and share investors were also furnished.5. the ao was not .....

The Commissioner of Income Tax Vs. Anand Prakash

Court : Delhi

Reported in : (2009)224CTR(Del)72; [2009]316ITR141(Delhi); [2009]179TAXMAN44(Delhi)

..... has erred in law, in the facts and circumstances of the present cases, in deleting the levy of interest under section 234b of the income tax act, 1961?3. these appeals pertain to two assessees - anand prakash and maha maya general finance ltd. the appeals pertaining to the assessee anand prakash arise out of the common order dated 20-04 ..... officer to delete the interest so charged under section 234b of the act in respect of the years under appeal. this order dated 20.04.2006 was followed by the tribunal in the case of the other assessee, i.e. maha maya general finance company ltd. by virtue of its order dated 07.07.2006.6. before us, mr jolly, the learned ..... counsel appearing for the revenue argued that interest under section 234b .....

Vikram Ispat Vs. Commissioner of Cen. Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2008)8STR559

..... sides on the application for waiver of pre-deposit of service tax of rs. 1,80,23,306/- together with penalty of equal amount under section 78 and penalty of rs. 1000/- under section 77 of the finance act. 1994. the demand has been confirmed on the ground that the applicants herein are rendering port services which have been defined as "any services ..... confirmed.2. submissions are raised before us on the aspect of limitation - the period of demand ranged from 1.7.2003 to 31.3.2006 while the show cause notice has been issued on 8.6.2006. the demand, according to the applicants, is partly barred by limitation and only part of the demand falls within the normal period of ..... applicants fall under the revdanda port which is a port under the rajpuri group of ports, which has been notified as "other port" occurring in 'the indian ports act, 1908 by the maharashtra maritime board. lastly, the applicants submit that even if it is held that they are 'other port' within the meaning of indian port .....

Principal Commissioner of Income Tax2, Kolkata Vs. National Insurance ...

Court : Kolkata

..... to exempt profits and gains on investments made by the general insurance corporation of india and the four companies formed under section 16 of the general insurance business (nationalisation) act, 1972. sub-clause (b) was again introduced by the finance act, 2009 with effect from 1st april, 2011 in the following terms:- (b) (i) any gain or loss on ..... order deals with certain other issues, but this appeal is primarily concerned with dealing of profit from sale or redemption of investments. for the next assessment year, 2006-07, same cours.was followed by the assessing officer. the cit in appeal of the assessee deleted the addition of rs.245.09 crores. we would like to ..... period during which clause 5(b) had remained out of the statute book, same cours.was adopted by the revenue, barring the assessment years 2005-06 and 2006-07. argument of mr.poddar is that this consistent view taken by the revenue ought not to be upset. he has also argued that the circulars.notifications explaining .....

The Thalappalam Service Co-operative Bank Ltd. Vs. Union of India

Court : Kerala

..... poonjar service co-operativebank ltd poonjar, kottayam, represented by its secretary by adv. sri.a.kumar respondent(s): ---------------------------- 1. union of india represented by ministry of finance new delhi110001 wp(c).no. 3532 of 2014 (n) - 2 - 2. commissioner of income tax kottayam686001.3. director of income tax (intelligence) kochi682018 4 ..... are before this court, challenging the correctness and sustainability of ext.p1 series notices issued by the 4th respondent under section 133(6) of the income tax act, 1961. various grounds have been raised with regard to the correctness and sustainability of the said proceedings.2. the ..... copy of the representation addressed to the union finance ministry dated1812/2013 exhibit p5 copy of the petitioner's representation to the union finance ministry dated1812/2013 exhibit p6 copy of the judgment in wpc no.31579/2006 dated2911/2006 exhibit p7 copy of the representation addressed to the finance secretary, government of india dated0402/2014. .....

Deputy Commissioner of Income Tax Vs. G.S. Entertainment

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)109TTJ(Mum.)54

..... brands ltd., cited supra, wherein held that where the amount was undisclosed income in the hands of the assessee, it could not resort to proceedings under section 269ss r/w section 271d of the act. accordingly, the issue is decided in favour of the assessee and the order of the cit(a) is confirmed and the ground of appeal of the ..... affidavit before the revenue authorities. he submitted that cit(a) should have taken note of the fact that cash receipt of rs. 15 lakhs was towards part payment of the finance agreement dt. 28th july, 1998.3. the learned counsel for the assessee has opposed the submission of the learned departmental representative. he submitted that the amount of rs. ..... of the it act, 1961 does not apply to the facts of the case. he submitted that the issue is covered in favour of the assessee with the decision of the hon'ble delhi high court cit v.standard brands ltd. (2006) 204 ctr (del) 48 : (2006) 285 itr 295 (del).4. we have considered the rival submissions. we find that it .....

Jammu and Kashmir Bank Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Amritsar

Reported in : (2008)114TTJ(Asr.)728

..... group borrowers (source : the economic times, dt. 19th jan., 2008).from the above news item, it is clear that the banking sector was enjoying exemption under section 10(23g) which has been deleted by the finance act, 2006. if it were not so, there was no need for the banks to make such representation.9.2 further, it is a fact that the assessee ..... exemption was removed, banks had increased rate of interest on existing infrastructure projects after negotiating with borrowers. under section 10(23g), banks were allowed to claim deduction on the interest earned on long-term lending to infrastructure industries. this section was deleted by the finance act, 2006. the provision exempted specified income by way of dividend, interest and long-term capital gains of infrastructure capital .....

Shree Cement Limited and anr Vs. State of Raj. and ors

Court : Rajasthan Jodhpur

..... shree cement ltd. v/s state of rajasthan dtd. 11.10.201115/105dtd.29.07.2006 and 27.06.2007 under clause 13 of the rips, 2003 which provision is akin to section 263 of the income tax act and clause 13 and 14 are reproduced hereinbelow for ready reference: 13. revision by the ..... eleven months of the previous meeting and the slsc comprising of higher authorities, namely, commissioner, commercial taxes department, managing director of riico, dy. secretary, finance and commissioner of industries again considered the case of the petitioner unit for its kushkheda, tehsil bhiwadi grinding unit and this time despite referring to amending ..... cement manufacturer, is before this court under article 226 of the constitution for challenging the impugned order dtd.31.3.2009 passed by the principal secretary, finance, government of rajasthan, jaipur under the provisions of clause 13 invoking his revisional jurisdiction under rajasthan investment promotion scheme, 2003(hereinafter referred to as the rips .....

The Commissioner of Income Tax and Another Vs. M/a Standard Chartered ...

Court : Karnataka

..... authority, particularly, the record relating to noting of the reason for reopening before the issue of notice under section 10 of the act and has submitted that the conduct of the assessee in not disclosing the interest part attributable to the hire purchase finance transaction in the return amounts to not merely a non disclosure of full and true material facts, but ..... dated 07.04.2006 passed in int.t.a.no.21/bang/2002, for the assessment year 1992-93 praying to set aside the said order and etc.,) 1. these five appeals by the revenue under section 21h of the interest tax act, 1974 [for short, the act] read with section 260a of the income tax act, 1961 [for short, the it act], are in respect ..... time i.e. beyond the period of 4 years from the end of the assessment year as stipulated in section 10(b) of the act and therefore dismissed the appeals of the revenue, by passing a common order dated 7-4-2006 in intta nos 21 to 24, 5 and 6/bang/2002 and 42/bang/2003, inclusive of the assessment .....

Commissioner of Income Tax Vs. M/S. Ganapati Finance Ltd.

Court : Delhi

..... note of irrelevant material in reaching those findings. if these considerations are not present, it would not be proper for the court in an appeal under section 260a which can be granted only on a substantial question of law, to disturb the findings of fact, particularly when two appellate authorities have reached concurrent ..... kapoor, advocates. coram: mr. justice s. ravindra bhat mr. justice r.v. easwar r.v. easwar, j.: this is an appeal by the cit under section 260a of the income tax act, 1961 and the following ..... delhi reserved on:18. h october, 2012 date of decision:5. h december, 2012 % + ita 475/2006 commissioner of income tax .....appellant through: mr. sanjeev sabharwal, sr. standing counsel with ms. gayatri verma, advocate. versus m/s. ganapati finance ltd. ......respondent through: mr. salil kapoor with mr. ankit gupta, mr. vikas jain and mr. sanat .....