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Deputy Commissioner of Income-tax Vs. R.L. Kalathia and Co.

Court : Gujarat

..... . as stated above, in this case we are concerned with the assessment year 1996-97. therefore, in this case, we are not concerned with clause (xiii) inserted by finance (no. 2) act, 1998 in section 47 under which it is provided that where a firm is succeeded by a company in the business carried on by it as a result of sale or ..... in-trade. under the circumstances, in the absence of any factual foundation having been laid in that regard, the question of invoking sub-section (2) to section 45 of the act would not arise. sub-section (4) of section 45 of the act provides that the profits or gains arising from the transfer of a capital asset by way of distribution of capital assets on the ..... high court in texspin engg. and mfg. works case (supra). 15.3 reliance was also placed upon the decision of the supreme court in the case of pnb finance ltd. v. cit-i [2008] 307 itr 75/175 taxman 242, wherein the court held thus: "18. in artex mfg. co. 1 this court found that a valuer was appointed, that valuer .....

Principal Commissioner of Income Tax-9 vs.om Prakash Jakhotia & Anr.

Court : Delhi

..... not substantiated in any manner.17. this court, in commissioner of income tax v divine leasing & finance ltd., (2008) 299 itr268held that: "in this analysis, a distillation of the precedents yields the following propositions of law in the context of section 68 of the it act. the assessed has to prima facie prove (1) the identity of the creditor/subscriber; (2) ..... are that statement was made voluntarily on 20.01.2012, in the course of search proceedings. there is presumptive value to such statement by virtue of section 132(4) of the act. moreover, it is not merely the statement that is material in the present case; in fact ledgers and other books of accounts were seized. the ..... years for which the returns were furnished. at that stage, the assessees approached the itsc with an application. on 29.10.2013, in the application under section 245c of the act, the disclosure made was of the income to the tune of `1,93,04,200/-. an affidavit in addition was filed by the first respondent jakhotia, .....

Madhya Pradesh Electricity Board. Vs. Secretary Union of IndiA.

Court : Madhya Pradesh Jabalpur

..... 6847/09 arising out of a common order passed by the central board of direct taxes, ministry of finance, department of revenue dated 18.12.2008 deciding the matter of petitioner under section 119 (2)(b) of the income tax act,1961 for the assessment year 2000-01,2001-02 and 2002-03. so far as the assessment year ..... states namely state of madhya pradesh and state of chhatisgarh. in respect of m.p. state electricity board, a specific provision was enacted by the parliament under section 58 of the act which reads as under :-"58. provisions as to madhya pradesh state electricity board, state road transport corporation and state warehousing corporation, etc.(1) the following ..... contentions were raised at the time of hearing before the cbdt which were considered by the cbdt at the time of passing of the order. section 119(2)(b) of the act reads thus :- section 119.. (2) without prejudice to the generality of the foregoing power- (b) the board may, if it considers it desirable or expedient so .....

Commissioner of Income-tax, VijayawadA. Vs. Ms.Vijaya Vani Educational ...

Court : Andhra Pradesh

..... ] 301 itr 86 (sc)). (2) to be eligible for exemption, under section 10(23c)(vi) of the act ..... section 10(23c)(vi) is analogous to section 10(22), as it existed prior to its omission by the finance act, 1998, with effect from april1, 1999. to that extent judicial pronouncements, made in the context of section 10(22), would equally apply to section 10(23c)(vi) of the act (american hotel and lodging association educational institute v. cbddt [2008 ..... whether during assessment years 1986-87, 1987-88 and 1988-89, the assessee incurred any disqualification so as to deny their benefit under section 11 of the act. we considered these issues with reference to the order of the assessing officer, which appears to be the basis for the revenue to .....

Commissioner of Income-tax, VijayawadA. Vs. M/S.Vijaya Vani Educationa ...

Court : Andhra Pradesh

..... ] 301 itr 8.(sc)). (2) to be eligible for exemption, under section 10(23c)(vi) of the act ..... section 10(23c)(vi) is analogous to section 10(22), as it existed prior to its omission by the finance act, 1998, with effect from april1, 1999. to that extent judicial pronouncements, made in the context of section 10(22), would equally apply to section 10(23c)(vi) of the act (american hotel and lodging association educational institute v. cbddt [2008 ..... arise whether during assessment years 1986-87, 1987-88 and 1988-89, the assessee incurred any disqualification so as to deny their benefit under section 11 of the act. we considered these issues with reference to the order of the assessing officer, which appears to be the basis for the revenue to .....

Commnr. of Income Tax-i, Ahmedabad Vs. Gold CoIn Health Food Pvt. Ltd.

Court : Supreme Court of India

Reported in : (2008)218CTR(SC)359; [2008]304ITR308(SC); JT2008(9)SC312; 2008(11)SCALE492; (2008)9SCC622; 2008(2)LC1144(SC); 2008AIRSCW5841; 2008(6)Supreme1; 2008(11)SCALE492.

..... 2008 to a larger bench. the question which was decided in virtual's case (supra) was as to whether the penalty under section 271(1)(c) of the income tax act, 1961 (in short the `act') can be levied if the returned income is a loss. this question has to be considered in the background of the amendment made by finance act, 2002 (in short `finance act ..... ') w.e.f. 1.4.2003 in explanation 4 to section 271(1)(c)(iii) of the act. in virtual's case (supra) the department placed reliance on notes on clauses relating to the ..... and, therefore, does not operate retrospectively and is applicable only w.e.f. 1.4.2003. the relevant portion in the finance act relating to amendment reads as follows:section 271 of the income tax act provides that the assessing officer or the commissioner (appeals) shall levy penalty in cases of failure to comply with certain notices issued .....

M/S Great Eastern Exports .and ors. Vs. the Commissioner O F Income Ta ...

Court : Delhi

..... 37 ita 907 of 2009, ita 906 of 2008, ita 1002 of 2008 applicable to section 80i as well. however, no provision was made ..... effect from april 1, 1974, was inserted. section 80i was inserted in its present form by the finance (no. 2) act, 1980, with effect from april 1, 1981, and by the same finance (no. 2) act, section 80hh(9) was amended and the words "section 80i or" were inserted to make the said provision ita 267 of 2008, ita 1316 of 2008, ita 4 of 2009, page 7 of .....

Airport Retail Pvt. Limited Vs. Union of India and ors.

Court : Delhi

..... aspect has been conclusively decided in favour of the petitioner by the abovementioned order dated 03.11.2009.35. clause (zzzz) of sub-section 105 of section 65 of the act was amended by finance act, 2010 with retrospective effect from 01.06.2007 to read as under: (105) "taxable service" means any service provided or to be ..... out a part of the airport services [sic].[recte premises]. .10. thereafter, section 65(105)(zzm) of the finance act, 1994 was amended by the finance act, 2010 with effect from 01.07.2010 and section 65(105)(zzzz) of the finance act, 1994 was also amended by the finance act, 2010 with retrospective effect from 01.06.2007. in view of the amended ..... /2008/st dated 04.01.2008 issued by the ministry of finance, government of india.2. during the pendency of the present petition, the petitioner further apprehended that the service tax authorities may seek to tax the licence fees paid by the petitioner to dial as taxable service as defined under section 65(105)(zzm) of the act .....

Kwality Ice Creams (India) Ltd. Vs. Commissioner of Income Tax.

Court : Kolkata

..... on the ground of perversity we need to examine law laid down by the supreme court regarding applicability of the section 50 in relation to the tax on capital gains.12. in case of pnb finance ltd. vs. cit reported in (2008) 307 itr 75 (sc) at page 81 of the report while discussing the decision of the same court in ..... assets only manpower was transferred. he submits that entire composite sale consideration could not be taken into consideration and it should be apportioned. he further submits that section 50 of the act has no manner of application as far as intangible assets is concerned. it has application for determination of capital gains in case of depreciable assets and for such ..... the a.o. held that the receipts were required to be considered in the assessment year 1996-97 in terms of the said agreements, since the parties had acted on the basis of the agreement and the disputes arose for the first time in january 1996 after a lapse of seven months and concerned non-fulfilment of the .....

Pawan Singal Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Reported in : (2008)216CTR(P& H)71

..... by the settlement commission.4. since more than 250 writ petitions have been filed in this court challenging the vires of the provisions of section 245ha of the act, as amended by finance act, 2007, which are pending and in all those petitions (whether amended or unamended), the issue of abatement of the settlement application on or ..... before 31st march, 2008, is involved, the direction given by us in this petition in the aforesaid terms will be applicable in all those petitions, ..... the said order, we pass the following interim directions:(a) the application for settlement filed by the petitioner under section 245c of the it act, 1961 (hereinafter referred to as the act') would not abate on 31st march, 2008.(b) any information disclosed by the petitioner in the annexure to form 34b in appendix ii to the it .....