Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Page 8 of about 354,094 results (0.775 seconds)

Kmp Timbers Vs. Commercial Tax Inspector and anr.

Court : Kerala

Reported in : (2010)27VST536(Ker)

..... apprehension projected to the contrary are quite wrong and unfounded.20. in this context, it is also very much relevant to note that section 19a of the kvat act (which came into effect from july 1, 2006 as per the kerala finance act, 2006) provides for issuance of 'green card', which is extracted below for the purpose of convenience:19a. issue of green card.- every registered ..... idea and understanding of the petitioners to the contrary is quite wrong and misconceived.19. it is very much relevant to note that section 47(16a), which was brought into effect from july 1, 2006 by virtue of the kerala finance act, 2006, starts with a 'non obstante clause'. by virtue of the terminology used in the provision, paramount importance is given to the necessity .....

D.R. Madhavakrishnaiah Vs. the Income-tax Officer, Bangalore

Court : Supreme Court of India

Reported in : AIR1954SC163; [1954]25ITR72(SC); [1954]1SCR537

..... state of mysore down to the end of the year of account 1948-49. the officer was exercising jurisdiction in the state by virtue of the proviso to section 13 of the indian finance act, 1950, which reads as follows :- repeals and savings. - (1) if immediately before the 1st day of april, 1950, there is in force in ..... efficient management, it was obviously necessary and desirable that the changeover from the mysore income-tax law to the indian income-tax act should be in the way provided by section 13 of the indian finance act, 1950. we find nothing in article 277 of the constitution to preclude parliament making a law providing for the levy and collection ..... of income-tax and super-tax under the mysore act through authorities appointed under the indian income-tax act. accordingly, we hold that the income .....

Cit Vs. India Crafts and ors.

Court : Delhi

Reported in : (2009)226CTR(Del)308; [2009]183TAXMAN369(Delhi)

..... . and ors. (it appeal no. 211 of 2006 and other connected matters, directed that the individual cases be listed before the appropriate bench for hearing and disposal. the full bench, in its judgment has noted that, pending the reference, sub-section (ib) has been inserted in section 271 of the income tax act, 1961 by the finance act, 2008. it was also observed that the said ..... which limited itself only to the question of recording of satisfaction and did not go into the question on merits, in view of the amendment brought about in section 271 by virtue of finance act, 2008, these matters would have to be remitted to the tribunal for consideration on merits. consequently the impugned orders passed by the tribunal, in each of these appeals .....

Simpson and General Finance Co.Ltd Vs. Deputy Commissioner of Income T ...

Court : Chennai

..... and necessary depreciation was provided thereon. however after the introduction of accounting standard 19, the company had accordingly followed the standard as mandatory under section 211(3c) of the companies act,1956 and the lease was treated as current asset and not the fixed asset, hence, no depreciation was charged in the books of accounts ..... the transactions entered into by them were pure financial lease. prior to 01.04.2001, there was no accounting standard for leasing transaction. thus operating lease and finance transaction were treated at par. further after accounting standard 19 introduction, the distinction has to be seen and thus rightly it offered only the interest income treating ..... assessment order herein arises out of the common order of the income tax appellate tribunal relating to the assessment years 2002-03;2003-04;2004-05;2005-06;2006-07;2007-08 and 2008-09.3. the assessee is stated to be in the business of bill discounting, hire purchase and leasing, mutual funds and .....

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 .....

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 .....

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 Vs. V.L.S. Finance Limited

Court : Delhi

Reported in : [2009]310ITR224(Delhi); [2009]178TAXMAN433(Delhi)

..... of the common order dated 15.02.2008 passed by the income-tax appellate tribunal under section 254(2) of the income-tax act, 1961 (hereinafter referred to as 'the said act') in respect of miscellaneous application nos. 611, 612 and 613/del/2006. the rectification applications had been filed by the assessee in respect of the tribunal's ..... while passing the said order dated 31.08.2005. the tribunal, in the impugned order, noted that the said decision of the supreme court in the case of shaan finance pvt. ltd. (supra) had been referred to. however, inadvertently the same remained to be considered by the tribunal while disposing of the appeals by the said order ..... (delhi) and commissioner of income-tax v. nagpur golden transport co. : [1998]233itr389(delhi) which had been impliedly overruled by the supreme court decision in shaan finance pvt. ltd. (supra).3. by virtue of the impugned order, the tribunal has accepted the fact that it had not considered the decision of the supreme court in shaan .....

Commissioner of Income-tax Vs. Harig Crank Shafts Ltd.

Court : Delhi

Reported in : [2009]177TAXMAN31(Delhi)

..... that there was no satisfaction recorded in the assessment order. the tribunal had not examined the question of penalty on merits.2. section 271 of the act has been amended by the finance act of 2008 by the introduction of sub-section (1b) with retrospective effect from 1-4-1989. in view of the said amendment, this matter would have to be decided on ..... arises from the tribunal's order dated 14-12-2006 wherein the tribunal had relied on the decision of this court in cit v. ram commercial enterprises ltd. : [2000]246itr568(delhi) and held that imposition of penalty under section 271(1)(c) of the income-tax act, 1961 (hereinafter to be referred as 'the act') was bad in law in view of the fact .....

Kasturi and Sons Ltd. Vs. Union of India Rep. and ors.

Court : Chennai

..... as business auxiliary service as defined under section 65(19) of the finance act, 1994 as substituted by the finance (no.2) act, 2004 and the definition information technology service includes computer software, system networking, data processing, etc., after the amendment effected in the finance act, 2006 and after 1.5.2006 only the services relating to designing or ..... denmark and therefore, the impugned circular is challenged on various grounds including that the same is ultra vires section 83 of the finance act, 1994 and section 37b of the central excise act, 1944, that when the section itself takes away the maintenance of software from the purview of service tax, the second respondent cannot ..... of computer software prior to 2006, it is not even their case that in 2007, when the amendment was brought in the finance act, it was given retrospective effect and even the altered definition of the term, goods in the amendment of 2007 in the finance act, 1994 under section 65(105)(zzg) also was .....