Court : Delhi
..... court also noticed and quoted the following passage from virtual soft systems ltd v commissioner of income tax 2007 (9) scc665 and held as follows:"it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. ..... admission to a place of entertainment. believing that its fashion shows were entertainment events, fdci had applied for exemption under the provisions of section 14 of the act; the then joint secretary (finance) acting at the behest of the government of national capital territory of delhi (gnctd) granted 100% entertainment tax exemption for events held from 2002 ..... made by the customers to the restaurant were not payment for admission to entertainment within the meaning of section 1(1) of the finance (new w.p.(c)2563/2013 and connected matters page 74 of 143 duties) act, 1916, and that the entertainment duty was therefore not chargeable in respect thereof. the majority of the .....
Tag this Judgment!Court : Delhi
..... court also noticed and quoted the following passage from virtual soft systems ltd v commissioner of income tax 2007 (9) scc665 and held as follows:"it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. ..... admission to a place of entertainment. believing that its fashion shows were entertainment events, fdci had applied for exemption under the provisions of section 14 of the act; the then joint secretary (finance) acting at the behest of the government of national capital territory of delhi (gnctd) granted 100% entertainment tax exemption for events held from 2002 ..... made by the customers to the restaurant were not payment for admission to entertainment within the meaning of section 1(1) of the finance (new w.p.(c)2563/2013 and connected matters page 74 of 143 duties) act, 1916, and that the entertainment duty was therefore not chargeable in respect thereof. the majority of the .....
Tag this Judgment!Court : Delhi
..... court also noticed and quoted the following passage from virtual soft systems ltd v commissioner of income tax 2007 (9) scc665 and held as follows:"it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. ..... admission to a place of entertainment. believing that its fashion shows were entertainment events, fdci had applied for exemption under the provisions of section 14 of the act; the then joint secretary (finance) acting at the behest of the government of national capital territory of delhi (gnctd) granted 100% entertainment tax exemption for events held from 2002 ..... made by the customers to the restaurant were not payment for admission to entertainment within the meaning of section 1(1) of the finance (new w.p.(c)2563/2013 and connected matters page 74 of 143 duties) act, 1916, and that the entertainment duty was therefore not chargeable in respect thereof. the majority of the .....
Tag this Judgment!Court : Delhi
..... court also noticed and quoted the following passage from virtual soft systems ltd v commissioner of income tax 2007 (9) scc665 and held as follows:"it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. ..... admission to a place of entertainment. believing that its fashion shows were entertainment events, fdci had applied for exemption under the provisions of section 14 of the act; the then joint secretary (finance) acting at the behest of the government of national capital territory of delhi (gnctd) granted 100% entertainment tax exemption for events held from 2002 ..... made by the customers to the restaurant were not payment for admission to entertainment within the meaning of section 1(1) of the finance (new w.p.(c)2563/2013 and connected matters page 74 of 143 duties) act, 1916, and that the entertainment duty was therefore not chargeable in respect thereof. the majority of the .....
Tag this Judgment!Court : Delhi
..... court also noticed and quoted the following passage from virtual soft systems ltd v commissioner of income tax 2007 (9) scc665 and held as follows:"it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. ..... admission to a place of entertainment. believing that its fashion shows were entertainment events, fdci had applied for exemption under the provisions of section 14 of the act; the then joint secretary (finance) acting at the behest of the government of national capital territory of delhi (gnctd) granted 100% entertainment tax exemption for events held from 2002 ..... made by the customers to the restaurant were not payment for admission to entertainment within the meaning of section 1(1) of the finance (new w.p.(c)2563/2013 and connected matters page 74 of 143 duties) act, 1916, and that the entertainment duty was therefore not chargeable in respect thereof. the majority of the .....
Tag this Judgment!Court : Supreme Court of India
..... till the date on which interest is first due after the date of purchase.5. under the income tax act, 1961 (for short, the it act ), section 18, which was repealed by the finance act, 1988, dealt with tax leviable on the interest on securities. section 19 provided for the deduction of (i) expenses in realising the interest and (ii) the interest payable on ..... securities is uniformly assessed under the head profits and gains from business or profession , the decision of this court in the case of citi bank na3 will squarely 6 (2007) 289 itr6: (2007) 15 scc6117 (1960) 39 itr114:1960. scc online sc193civil appeal no.3291 3294 of 2009, etc. page 8 of 45 apply. it was submitted that in ..... the broken period interest paid to the seller as a cost but treated it as an item of expenditure under the profit and loss account. in 2007, the cbdt issued circular no.4 of 2007, observing that a taxpayer can have two portfolios. the first can be an investment portfolio civil appeal no.3291 3294 of 2009, etc. page .....
Tag this Judgment!Court : Supreme Court of India
..... undisputedly had notice of the pending 8 litigation. at the outset, it appears pertinent to reiterate the settled position that the doctrine of lis pendens as provided under section 52 of the act does not render all transfers pendente lite to be void ab initio, it merely renders rights arising from such transfers as subservient to the rights of the parties ..... a decree holder qua a third party to the suit and the right of a third party after being dispossessed has been laid down by this court in sriram housing finance & investment (india) ltd. v. omesh mishra memorial charitable trust, (2022) 15 scc176:2022. scc online sc794 wherein it was held as follows: 24. on conjoint reading of the ..... raghuthaman filed execution first appeals viz., efa nos.6 of 1998 and 7 of 1998, which came to be dismissed by the high court, by judgment dated 30.05.2007. seeking to review the said judgment, the respondents herein, who are the legal representatives of the said raghuthaman, filed r.p.nos.1107 and 934 of .....
Tag this Judgment!Court : Supreme Court of India
..... claim after the revised return was barred by time. this court considered the appellate power of the appellate tribunal under section 254 of the it act. paragraphs 10 and 11 of the said decision in the case of wipro finance ltd1 read thus:- 10. the learned asg appearing for the department had faintly argued that since the appellant in ..... return of income are mandatory in nature.8. coming to the decision of the tribunal, we find that the tribunal has not exercised its power under section 254 of the it act to consider the claim. instead, the tribunal directed the assessing officer to consider the appellant's claim. the assessing officer had no jurisdiction to consider the ..... by the officials of the appellant. yet, the itat entertained the claim as permissible, even though for the first time before the itat, in appeal under section 254 of the 1961 act, by relying on the dictum of this court in national thermal power co. ltd. further, the itat has also expressly recorded the no objection given .....
Tag this Judgment!Court : Supreme Court of India
..... period, then the time limit for completion or compliance of such action was extended to 30 june 2021. iii. finance act 2021 10. the finance act 2021 substituted the entire scheme of reassessment under sections 147 to 151 of the income tax act with effect from 1 april 2021. page 41 of 112 part a substantial changes were brought about by the new ..... writ petitions and quashed all the reassessment notices issued between 1 april 2021 and 30 june 2021 under the old regime on the ground that: (i) sections 147 to 151 stood substituted by finance act 2021 from 1 april 2021;26 (ii) in the absence of any saving clause, the revenue could initiate reassessment proceedings after 1 april 2021 only in ..... co. ltd., 1960 scc online sc105[7].; state of w b v. kesoram industries ltd., (2004) 10 scc201[106]. 81 mahim patram (p) ltd. v. union of india, (2007) 3 scc668[25]. 82 (1975) 2 scc736[29]. page 64 of 112 part d not admissible in the interpretation of a charging or taxing provision of a taxing statute.37 .....
Tag this Judgment!Court : Supreme Court of India
..... object is that a registered person does not take advantage of both depreciation and itc.29. now we come to sub-section (4) of section 16. before the amendment made by the finance act, 2022, the sub-section read thus: 16. .. .. .. .. .. .. .. .. .. (4) a registered person shall not be entitled to take input tax credit in respect ..... which have been uploaded by the supplier under sub-section (1) of section 37 till the due date for furnishing the details under sub-section (1) of said section for the month of march, 2019. the finance act, 2022, substituted the words due date of furnishing return under section 39 for the month of september with thirtieth day of ..... are based upon the interpretation of the phrase machinery or plant under section 41 of the finance act, 1971 which was applicable and there appears no such distinction for grant of allowance on different heads as provided under section 32 of the income tax act. (7) to differentiate a building for grant of additional depreciation by .....
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