Judgment Search Results Home > Cases Phrase: finance act 2006 section 2 income tax Sorted by: recent Court: karnataka Page 1 of about 20,068 results (0.228 seconds)

Doodhganga Co-operative Credit Society Ltd. Vs. The Commissioner of In ...

Court : Karnataka Dharwad

..... (including providing credit facilities) carried on by a co-operative society with its members shall be included in the definition of income ?. section 2(24(viia)) of the income tax act inserted by the finance act, 2006, with effect from 1.4.2007 includes the following in its definition of income as under: profits and gains of any business of ..... budget speech explaining the reasons for withdrawal of tax benefits to some societies by way of insertion of sub-section 80p(4) and insertion of new sub-clause (viia) in clause (24) of section 2 definition of income by the finance act, 2006, with effect from 1.4.2007, is as under: the co-operative banks are functioning at par ..... profits and gains of business attributable to any one or more of such activities. section 80p(4) which came to be introduced in the statute by the finance act, 2006, with effect from 1.4.2007, reads as under: 80p(4) the provisions of this section shall not apply in relation to any co-operative bank other than a primary .....

Doodhganga Co-Operative Vs. The Commissioner of Income Tax

Court : Karnataka Dharwad

..... (including providing credit facilities) carried on by a co-operative society with its members shall be included in the definition of income . section 2(24(viia) of the income tax act inserted by the finance act, 2006, with effect from 1.4.2007 includes the following in its definition of income as under: profits and gains of any business of banking ..... budget speech explaining the reasons for withdrawal of tax benefits to some societies by way of insertion of sub-section 80p(4) and insertion of new sub-clause (viia) in clause (24) of section 2 definition of income by the finance act, 2006, with effect from 1.4.2007, is as under:20. the co-operative banks are functioning at par ..... and gains of business attributable to any one or more of such activities. section 80p(4) which came to be introduced in the statute by the finance act, 2006, with effect from 1.4.2007, reads as under:22. 80p(4) the provisions of this section shall not apply in relation to any co-operative bank other than a primary .....

Commissioner of Income-tax, Belgaum Vs. Shri Laxmi Credit Souhard Saha ...

Court : Karnataka

..... banking (including providing credit facilities) carried on by a co-operative society with its members shall be included in the definition of "income".' section 2(24)(viia) of the income tax act inserted by the finance act, 2006, with effect from 1.4.2007 includes the following in its definition of "income" as under: "profits and gains of any business ..... budget speech explaining the reasons for withdrawal of tax benefits to some societies by way of insertion of sub-section 80p(4) and insertion of new sub-clause (viia) in clause (24) of section 2 definition of "income" by the finance act, 2006, with effect from 1.4.2007, is as under: 'the co-operative banks are functioning at par ..... and gains of business attributable to any one or more of such activities. section 80p(4) which came to be introduced in the statute by the finance act, 2006, with effect from 1.4.2007, reads as under: 80p(4) the provisions of this section shall not apply in relation to any co-operative bank other than a primary .....

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 .....

Commissioner of Income-tax and anr. Vs. Karnataka Vidyuth Kharkhane Lt ...

Court : Karnataka

Reported in : [2009]313ITR345(KAR); [2009]313ITR345(Karn)

..... is introduced to section 148 with retrospective effect on october 1, 1991. this proviso was not there when the case was decided by the tribunal. by considering the amended ..... notice issued under section 143(2) of the income-tax act on the assessee was clearly barred by limitation. therefore, the appeal of the assessee was allowed on the technical ground. this order is called in question in this appeal.4. during the course of arguments, it is brought to our notice that under the finance act, 2006, a proviso ..... the following substantial question of law:whether, the tribunal was correct in holding that the assessment order dated march 26, 2002, passed under section 147 of the act after notice under section 148 of the act was issued on the assessee on october 11, 1999, and served on the assessee on october 30, 1999, was void as it was .....

The Pr. Commissioner of Income Tax, Vs. The Totagars Co-Operative Sale ...

Court : Karnataka Dharwad

..... the whole of such interest income is eligible for 100% deduction. (iii) it was also urged that the provisions of section 80p(4) of the act inserted by the finance act 2006 with effect from 01st april 2007, excluding the applicability of section 80p of the act to any co-operative bank other than a primary 30/57 date of judgment:16. 06.2017 ita no.100066 ..... . the totagars co-operative sale society, sirsi. of the act with effect from 01st april 2007 by finance act, 2006 excludes co-operative banks other than primary agricultural credit society or a primary co-operative agricultural and rural development bank as defined under the banking regulation act, 1949 from the applicability of section 80p of the act and therefore, even the interest income earned by the respondent .....

Venugram Multipurpose Co-Operative Credit Society Ltd. Vs. The Income- ...

Court : Karnataka Dharwad

..... .f, 1-4-1970).) [(4) the provisions of this section shall not apply in relation to any co-operative bank other than a primary ..... was dismissed. 5. sub-section (4) of section 80p of the act reads thus: [80p. deduction in respect of income of co-operative societies. (1) xxx (2) x x x (3) x x x (lns. by the finance act, 2006 (21 of 2006), sec.19 (w.e.f. 1-4-2007). earlier sub-section (4) was omitted by the finance act, 1969 (14 of 1969), sec. 10(b) (w.e ..... agricultural credit society or a primary co-operative agricultural and rural development bank. explanation. for the purposes of this sub-section, (a .....

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 .....

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 .....

Cit Vs. Sabari Enterprises

Court : Karnataka

Reported in : [2008]298ITR141(KAR); [2008]298ITR141(Karn)

..... be accepted by us.8. the learned counsel sri parthasarathy and dr. krishna, appearing for respondents, also drew our attention to the deletion of second proviso to section 43b of the income tax act by finance act, 2003 which provision has come into force, with effect from 1-4-2004. the reliance placed upon the decision of the apex court in allied motors (p ..... v. gopala gowda, j.1. these appeals are filed by the revenue questioning the impugned orders passed by the tribunal in appeal no ita 1713/bang/2005, dated 17-3-2006, framing the following substantial questions of law:1. whether the tribunal was correct in holding that the contributions made by the assessee to pf and esi are allowable deduction even .....