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Better Label Manufacturing Co. Ltd. Represented by Its Managing Direct ...

Court : Chennai

Reported in : 2008(228)ELT331(Mad)

..... and for a further direction to the respondent to issue final certificate to the appellant under the said scheme.2. the learned single judge, after referring to section 95 of finance (no. 2) act, 1998 has ultimately held that it is true that the word 'pending' would mean 'undecided issues' and a legal proceedings deemed to have been pending ..... learned counsel for the revenue placed before this court a decision of a division bench of this court in the case of smt. jayapradha v. chief commissioner of income tax : [2006]284itr385(mad) and also the decision in the case of computwel systems (p) ltd. v. w. hasan : [2003]260itr86(sc) .4. we heard the learned counsel ..... on either side and perused the materials available on record.5. the very provision section 95(i)(c) of finance (no. 2) act, 1998 which is in respect of tax arrears under any direct tax enactment came up for consideration before the supreme court on more than one occasion and .....

Mr. A. Ramamurthy Vs. the Income Tax Officer

Court : Chennai

Reported in : (2009)222CTR(Mad)414

..... by the appellant-assessee in the declaration was found to be false. consequently, the assessing officer could not have reopened the assessment by a notice under section 143 of the act.8. after going through the authorities relied on, we are not able to understand as to how this judgment is helpful to the respondent, but on ..... is filed by the petitioner/appellant.4. the learned counsel appearing for the appellant contended that by virtue of clause 90(3) and clause 92 of the finance (no. 2) act, 1998, under which the kar vivad samadhan scheme was introduced, any issue in respect of which a declarant has opted for scheme shall not be reopened in ..... tax enactment. he further contended that the assessing officer has no power or jurisdiction under section 155 of the income tax act, 1961 to reopen the assessment.5. in support of his contention, he relied on the judgment of the supreme court reported in : 2006(201)elt517(sc) duncans agro industries ltd. v. commissioner of central excise, new delhi .....

The Commissioner of Wealth Tax Vs. Huf of H.H. Late Shri. J.M. ScIndia

Court : Mumbai

Reported in : (2008)110BOMLR1106; (2008)217CTR(Bom)531; [2008]300ITR193(Bom)

..... taken by the tribunal is the correct view. it is further submitted that there was similar omission in procedure for reassessment under section 148 of the income tax act. noting the lacunae, parliament amended section 148 of the income tax act by finance act, 2006 with effect from 1.10.1991. consequently it is submitted that the question as framed would not arise.3. the learned tribunal ..... bench came to the conclusion that requirement of section 143(2) cannot be dispensed with as it is mandatory. parliament subsequently by finance act 2006, with effect from 1.10.1991 introduced the second proviso to section 148 saving proceedings where return had been filed pursuant to proceedings under section 147 and no notice had been served under section 143(2) within the period prescribed by the .....

Millennium Infocom Technologies Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2008)117TTJ(Delhi)456

..... and exempted income. in this case the matter was restored to the file of ao to recompute the disallowance keeping in view the provisions of section 14a(2) and 14a(3) of the act which were inserted by finance act, 2006. he further submitted that cbdt has not prescribed any guidelines in this regard. on the other hand, learned departmental representative relied on the orders ..... 26(3) of dtaa. as already observed by us, the provisions of section 40(a)(i) as it existed prior to its amendment by the finance (no. 2) act, 2004, w.e.f. 1st april, 2005 and subsequent amendment by the taxation laws (amendment) act, 2006 with retrospective effect from 1st april. 2006, provided, for disallowance of payments made to a non-resident only where tax .....

ito Vs. Shri R.K. Gupta

Court : Income Tax Appellate Tribunal ITAT Delhi

..... even a copy of the notice on file, such a finding could have been recorded by the cit(a).10. we have also examined the proviso to section 148(1) inserted by the finance act, 2006 with retrospective effect from 1-10-1991 to find out its applicability to the present case. the first proviso saves the validity of a reassessment order where a ..... notice under section 143(2) was not served within the prescribed period - 12 months from the end of the month in which the return was filed. but the ..... at rs. 2,64,815/-. on 22.3.2000, a notice was served on the assessee under section 148 of the act, reopening the assessment. on 23.3.2000, the assessee wrote a letter (page 3 of the paper book filed on 24.2.2006, containing 42 pages) to the assessing officer in which he stated in paragraph 3 that the return of .....

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 .....

J.K. Industries Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Reported in : [2008]143CompCas325(SC); (2008)5CompLJ369(SC); (2007)213CTR(SC)301; [2008]297ITR176(SC); 2007(13)SCALE204; [2007]80SCL283(SC); 2007AIRSCW7443

..... at present, the taxes that can be deducted are income tax, fringe benefit tax (fbt), minimum alternate tax (mat). similarly, any surcharge or cess levied by the finance act as a percentage of such taxes will also be deductible. according to learned counsel, gross receipts of any company can be reduced by following items to arrive at profits ..... in preparation of their accounts for the financial year 2001-02 onwards.3. on 7.12.06 the central government prescribed as 22 under section 211(3c) of the companies act by the companies (as) rules 2006. before that date, as 22, when issued in 2001, was challenged in writ petitions filed before madras, karnataka, calcutta and gujarat high ..... para 33 of as 22 companies are required to rework the entire liability from the beginning of the existing assets. for example, in the case of indian railway finance corporation ltd., provision is required to be made in respect dtl of rs. 940.55 crores. the transitional provision took place for the year ended 2001-02. .....

Mohan Breweries and Distilleries Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2008)114TTJ(Chennai)532

..... ltd. v. dy. cit (2006) 102 ttj (chennai) 456 : (2006) 98 itd 212 (chennai) and addl. cit v. ashok alco chem ltd. (2005) 96 ttj (mumbai) 1000 : (2005) 96 itd 160 (mambai) were not applicable to the facts of the case. these order were delivered before the amendment to section 80-ia. by amendment by the finance act, 1999 w.e.f. 1st ..... april, 2000, section 80-ia(2) was ..... previous year relevant to the initial assessment year and to every subsequent assessment year upto and including the assessment year for which the determination is to be made.section 80-ia as enacted by finance act, 1999 w.e.f. 1st april, 2000 as stated earlier gives an option to the assessee w.e.f. 1st april, 2000 to claim relief .....

K.K. Doshi and Co. Vs. Cit

Court : Supreme Court of India

order1. the main point in this appeal is as to whether the amendment to section 80hhc of the income tax act, 1961, brought about by the finance (no. 2) act, 1991, with effect from 1-4-1992, is prospective in nature or is retrospective.2. this court in the case of p. r. prabhakar v. cit : [2006]284itr548(sc) , relying upon circular no. 621 19-12-1991, issued by the central board of direct taxes (cbdt), has held that the amendment in question is prospective in nature and the same is binding on the revenue.3. in view of circular no. 621 19-12-1991 issued by the central board of direct taxes and the aforesaid judgment of this court, these appeals are accepted and the orders passed by the high court of bombay are set aside leaving the parties to bear their own costs.4. the appeals stand allowed in the above terms.

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. .....