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The Commissioner of Income Tax-16 Vs. M/s Happy Home Enterprises and A ...

Court : Mumbai

..... than six years, except in the case of losses pertaining to certain assessment years ending with the assessment year 1943-44 where the period for carrying forward was shorter. section 16 of the finance act, 1955, amended s.24(2), and as a result of the amendment s. 24(2)(iii) provided that a business loss which was not wholly set off could ..... the said date or even shortly thereafter, merely because the assessee has offered its profits to tax in a.y. 2005-2006 or thereafter. requiring the assessee to comply with the condition set out in clause (d) of sub-section (10) of section 80-ib merely because he has offered his profits to tax in a.y. 2005-06 or thereafter, even though ..... completed before 1st april, 2005 but the sale of some of the units in the said project took place after 1st april, 2005 i.e. in the a.y. 2005-2006. the facts in income tax appeal no.201 of 2012 deal with the second scenario viz. where the housing project was approved before 31st march, 2005 but completed on or .....

Sikkim Manipal University Vs. State of Sikkim

Court : Sikkim

..... with effect from april 1, 1989, i.e., from the assessment year 1989-90. however, after some practical difficulty, section 26 of the finance act, 1989, made statutory provisions for application of the income-tax act, 1961, to the state of sikkim that notwithstanding anything contained in the above two notifications issued by the government of india, ..... . the petitioner-university was included in the list of universities maintained by the university grants commission (ugc) under section 2(f) of the university grants commission act, 1966, on december 9, 1998. 2.3 on july 7, 2006, the joint secretary/ito, income and commercial tax division, passed an assessment order under clause 4 sub-clause ..... commission of sikkim, that the repeal of an enactment does not extinguish the liabilities accrued under the repealed enactment and the demand having been raised in july, 2006. the petitioner was liable to pay income-tax to the tune of rs. 9,09,10,818 under the sikkim state income-tax manual, 1948, and .....

Commissioner Of Central Excise Raipur Vs. M/s Sepco Electric Power Con ...

Court : Supreme Court of India

..... by the cestat, it appears that the cestat has considered only one issue namely whether for the period pre 01.05.2006 the finance bill, 2006 whether body corporate was covered within the definition of consulting engineer under section 65 (31) of the finance act, 1994 and had not considered any other issues/grounds raised in the memo of appeal before the cestat. therefore, the matter ..... .1 it is vehemently submitted that considering the provisions which was prevailing before the amendment on 01.05.2006 on interpretation of section 65 (31) of the finance act, 1994 and considering the fact that the definition of consulting engineer has been subsequently amended from 01.05.2006 to specifically include such services of any body corporate or any other firm , the learned tribunal has .....

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 .....

Agricultural Produce Market Committee, Narela, Delhi Vs. Commissioner ...

Court : Supreme Court of India

Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540

..... note indicates that amc (s) is covered by the explanation and, therefore, amc(s) is entitled to the continuance of the benefit of exemption even after finance act, 2002. further, in the explanation to section 10(20) there are three items - item (i) refers to 'panchayat', item (ii) refers to 'municipalities' whereas item (iii) refers to 'municipal ..... : whether agricultural marketing committee [amc (s)] is a 'local authority', so as to be entitled to the benefit under section 10 of the 1961 act after insertion of the explanation in section 10(20) vide finance act, 2002 w.e.f. 1.4.2003.25. before analyzing the above question, we quote herein below a comparative chart containing ..... , also failed.8. aggrieved by the decision of the tribunal, the appellant moved the high court by way of income tax appeal no.819/2006 under section 260a of the 1961 act. by impugned decision dated 2.6.06, delhi high court following its earlier judgment in the case of agricultural produce market committee, azadpur v. .....

M/s. Raj Shipping and Another Vs. The State of Maharashtra, Through th ...

Court : Mumbai

..... -1505/c.r.135/taxation-1 dated 30th november 2006. the relevant portion of the notification has been extracted below: in exercise of the powers conferred by the explanation to sub-section (4) of section 41 of the maharashtra value added tax act 2002 (mah. ix of 2005) and in supersession of the government notification finance department no. vat 1505/cr-124/taxation 1 dated ..... the 1st april 2005, the government of maharashtra hereby with effect from 1st december 2006 notifies the following products to be the motor .....

Ajanta Educational Centre Vs. Chief Commissioner of Income Tax and anr ...

Court : Punjab and Haryana

Reported in : (2009)226CTR(P& H)255; [2010]187TAXMAN75(Punj& Har)

..... has claimed that exemption was granted to it under sub-clause (vi) & (via) of clause 23c of section 10 of the act. in the finance act, 2006, proviso was added to section 10(23c) of the act w.e.f. 1.6.2006 and the assessee was required to move an application at any time during the financial year immediately preceding the assessment ..... disposed off by the revenue authorities.4. an amendment was carried out in the finance act, 2006 w.e.f. 1.6.2006 whereby xivth proviso was added to section 10(23c) of the act. the assent of the president to the said amendment was granted on 13.7.2006. as per the amendment, the assessee was required to file the application at ..... prayer has been made for directing the respondents to grant benefit of exemption to the petitioner society under section 10(23c) of the income-tax act, 1961 (for brevity, 'the act') in respect of financial years 2004-05, 2005-06 and 2006-07.2. brief facts of the case are that the petitioner is a society registered under the societies .....

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 .....

Ramjilal Vs. Income-tax Officer, Mohindargarh

Court : Supreme Court of India

Reported in : AIR1951SC97; [1951]19ITR174(SC); (1951)IMLJ384(SC); [1951]2SCR127

..... has to be made, namely, ordinance no. 1 of 2006 called the finance ordinance promulgated on april 13, 1949, which came into force on that very date. section 5 of that ordinance introduced several amendments to the patiala income tax act, 2001. it recast sections 3 and 34 of that act and introduced a new section as section 23b. section 6 of that ordinance runs thus : '6. for the ..... assessment year beginning on the 1st day of baisakh, 2006, that .....

Krishna Texport Industries Ltd. Vs. Dcm Limited

Court : Delhi

Reported in : IV(2008)BC627; [2008]114CompCas113(Delhi); (2008)4CompLJ177(Del); 150(2008)DLT259; 2008(104)DRJ101; [2009]89SCL151(Delhi)

..... for bringing the offender to the penal liability. what was considered in maharashtra tubes ltd. (supra) is whether the remedy provided in section 29 or 31 of the state finance corporation act, 1951 could be pursued notwithstanding the ban contained in section 22 of the sica. hence the legal principal adumbrated in the said decision is of no avail to the appellants.21. in ..... the criminal court to stay the criminal and income tax proceedings under the scheme under section 391 of the said act.20. in company applications 35-36/2006 in the matter of escorts limited v. escorts finance ltd., sanjiv khanna, j. of this court passed an order on 17.3.2006 and noticed the conflict of view between the two courts, as referred to aforesaid .....