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Shree Choudhary Transport Co. Vs. Income Tax Officer

Court : Supreme Court of India

..... rightly been disallowed. 11.5. the learned counsel has also argued that the proviso to section 40(a)(ia) of the act, as inserted by the finance act, 2014, does not apply to the case at hand pertaining to the assessment year 2005-2006 and hence, the 21 argument for curative benefit with reference to the said proviso does ..... to punishing the assessee for no fault of his. the high court further observed that section 11 of the said finance act, inserting sub-clause (ia), did not provide that the same was to become effective from the assessment year 2005-2006. we may usefully reproduce the opinion of the calcutta high court in the case of piu ..... rent, royalty were inserted in the year 2006. 52 such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid. *** *** *** *** *** (ii) after the amendment by finance act, 2010 40. amounts not deductible.-. notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall .....

The Commissioner of Income Tax and Vs. Brindavan Beverages Ltd.

Court : Karnataka

Reported in : (2010)228CTR(Kar)1; [2010]186TAXMAN233(Kar)

..... of computation of capital gains arising out of the slump sale is a possibility only on and after 1-4-2000, whereafter the provisions of section 50b of the act has become operative by finance act of 1999 and the provisions having no application for the assessment year 1999-2000, the tribunal could not have directed the assessing officer to ..... sale and for taking this view relied upon the ratio in the decision of the supreme court in the case of commissioner of income tax v. electric control gear 2006 itr 1 (bom), the decision of this court in syndicate bank ltd v. additional commissioner of income tax : 155 itr 681 and the decision of the delhi ..... to enlarging the deeming provision in section 115ja[1] of the act to other charging sections/provisions of the act also.16. mr. shankar has elaborated his submission in several hues and shades and has in this regard drawn sustenance from the following judgments;[a] unreported judgment of this court rendered on 31.01.2006 in ita no. 2416 of 2005 .....

The Commissioner of Income-tax Vs. Synergy Financial Exchange Ltd.

Court : Chennai

Reported in : (2006)205CTR(Mad)481; [2007]288ITR366(Mad); (2006)4MLJ1411

..... in cit v. upasana finance ltd. [2006] 202 ctc 383, and held that on printing cylinders, ms bins and shippers sintex ice boxes, depreciation of 100% is allowable under the first proviso to section 32(1)(ii) of the act, and each of these assets is a plant individually as defined under section 43(3) of the act.3.12. of course, ..... fund contribution is made before the due date for furnishing the return. according to the learned counsel for the assessee, the deletion of second proviso to section 43b by the finance act, 2003 with effect from 1.4.2004, should be given retrospective operation so as to make it applicable to the impugned assessment year 1994-95.4.7 ..... the statute is passed. 4.9. we are constrained to examine the instant case on the basis of above tests. the second proviso to section 43b of the act, which stands omitted by the finance act, 2003 with effect from 1.4.2004, related to a condition imposed on the assessee to claim deduction of statutory contribution. the condition under .....

Commissioner of Income-tax, Punjab Vs. Tulsi Dass Jashan Lal KuthialA.

Court : Punjab and Haryana

Reported in : [1965]58ITR704(P& H)

..... high court.'two questions have been framed by the commissioner in each cas :'(1) whether in view of section 13 of the indian finance act, 1950, penalty under section 28 of the patiala income-tax act, 2001 bk., could be levied for the assessment year 2006 bk. (1949-50) after april 1, 195 ?(2) whether, on the facts and in the ..... the imposition of penalty, and hyderabad, like the states comprising the patiala and east punjab states union, had merged with the indian union. section 13(1) of the indian finance act of 1950 provide : 'if immediately before the 1st day of april, 1950, there is in force in any part b state... any law relating to ..... not alter the true character of penalty imposed under the income-tax acts of india and hyderabad'. it was therefore held that the proceedings for imposing penalty initiated under section 40 of the hyderabad income-tax act could be continued after the enactment of section 13(1) of the finance act, 1950, and the order levying penalty was therefore valid. this .....

Commissioner of Income Tax Vs. Boparai Industrial Corpn. (P) Ltd.

Court : Punjab and Haryana

Reported in : (2007)208CTR(P& H)411

..... would be suffice to say that the alleged technical defects on account of which, the assessment framed under section 147/148 of the act was set aside, has been cured by an amendment in section 148 of the act by finance act, 2006 with retrospective effect from 1st oct., 1991, wherein a new proviso has been added which is as ..... under:(a) where a return has been furnished during the period commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section ..... , and(b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but .....

M.S. Padmarajaiah, Senior Advocate Vs. the Secretary, Department of Fi ...

Court : Karnataka

Reported in : ILR2009KAR2437; [2009]183TAXMAN209(Kar); 2008(4)KCCR2801; 2008AIHC236(Kar)

..... above.3. the writ petition was filed on 5.1,2006. the financial year of 2005-2006 came to an end on 31.3.2006. there is no interim order in favour of the petitioner. learned counsel for the petitioner submitted that as per section 80-c of the income tax act as amended by the finance act 2005, the petitioner was entitled to deposit, a sum ..... (one of the specified savings under section 80-c of income tax act) with the 6th respondent section 80-c of the income tax act was amended by the finance act, 2005 increasing the permissible deduction from rs. 70,000/- to rs, 1,00,000/- for the financial year 2005-06 (commencing from 1.4.2005 to 31.3.2006) during the financial year 2005-06 the .....

Godrej and Boyce Mfg.Co.Ltd. Mumbai. Vs. Commissioner of Income Tax,

Court : Mumbai

..... due regard to all the facts and circumstances of the case. the change which is brought about by the insertion of sub sections (2) and (3) into section 14a by the finance act of 2006 with effect from 1 april 2007 is that in a situation where the assessing officer is not satisfied with the correctness of the ..... for their enforcement : (i) sub section (1) of section 14a was inserted by the finance act of 2001 with retrospective effect from 1 april 1962; (ii) sub sections (2) and (3) were inserted in section 14a by the finance act of 2006 with effect from 1 april 2007; (iii) the proviso was inserted by the finance act of 2002 with retrospective effect from 11 ..... is broadly adverted to as exempt income as an abbreviated appellation. insertion of subsections (2) and (3) to section 14a :25. subsections (2) and (3) of section 14a were inserted by an amendment brought about by the finance act of 2006 with effect from 1 april 2007. subsections (2) and (3) provide as follows :"14a(2) the assessing .....

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)11TTJ(Mum.)502

..... or fees shall not be regarded as assignment of values to individual assets or liabilities. it may be reiterated that clause (42c) has been inserted in section 2 of the it act by the finance act, 1999 w.e.f. 1st april, 2000. assessment year involved in the appeal before us is asst. yr. 1997-98. thus, the definition ..... of tax in india by inflating their claims in respect of head office expenses. with a view to getting over these difficulties, the finance act has inserted a new section 44c in the it act laying down certain ceiling limits for the deduction of head office expenses in computing the taxable profits in the case of non-resident taxpayers ..... the amendment to the first proviso to section 43b by the finance act, 2003 were clarificatory in nature and would have retrospective effect. in cit v. synergy financial exchange ltd. (2006) 205 ctr (mad) 481, the madras high court has held that omission of second proviso to section 43b by the finance act, 2003 has no retrospective operation so as .....

Director of Income Tax Vs. Aparna Ashram

Court : Delhi

..... some companies w.e.f. 01.04.1983. in 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 ..... interest in the club was indeterminate or unknown.".14. the supreme court in ellis bridge gymkhana (supra) has made wta 10/2006 page 14 of 21 reference to section 21aa introduced w.e.f. 01.04.1981 by finance act, 1981 and held that the said provision were inserted to bring to tax the net wealth of the association of persons ..... suspended and was partially revived in a limited way by way of section 40 of finance act, 1983). the supreme court noticed definition of the term person in the income tax act, 1922 and section 2 (31) of the income tax act, 1961, gift act, 1958 etc., and referred to the wta 10/2006 page 13 of 21 circular of the cbdt dated 29.06.1989 .....

Commissioner of Income Tax Vs. Bindal Apparels

Court : Delhi

Reported in : (2008)215CTR(Del)89

..... an assessment of income and thereby quashing the assessment made by the addl. cit?3. it is brought to our notice that section 2(7a) of the it act, 1961 has been amended with retrospective effect from 1st june, 1994 by finance act, 2007.4. in view of this amendment, learned counsel for the parties submit that the question is required to be answered in ..... counsel for the parties, the following substantial question of law was framed on 17th oct., 2006:(i) whether tribunal was justified in law in holding that in view of absence of the it authority i.e. 'addl. cit in the definition contained in section 2(7a) of the act, an addl. cit cannot be an authority to exercise or perform all or any ..... it has not dealt with merits of the case.the appeal is disposed of. parties will appear before the tribunal on 18th sept., 2007 for directions.cm no. 12922 of 2006 (stay)no orders are required to be passed as the appeal is disposed of. cm stands disposed of accordingly. .....