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M/S. Inter Craft Ltd. Vs.commissioner of Income Tax-Iii and Ors.

Court : Delhi

..... -obstante clause in section 88. this court, however, notices that those observations did not give importance to the definition of "tax arrear" under section 2(m) of the finance act (no.2), especially the explanation which underlines that declarations, voluntary payments or payments under protest of "any amount or duties, cesses, interest ." would "not be ..... such payment shall not be deemed to be the amount unpaid for the purposes of - determining tax arrear under this sub-clause;by section 88 of the finance act (no.2) of 1998, the "settlement of tax payable" was provided for in the following terms:"88. settlement of tax payable subject to the provisions of this ..... . this enabled the applicants to settle their tax disputes after making appropriate declaration to the designated authority. "tax arrears" was defined as follows by section 2(m) of the finance act (no.2) as follows: (m) "tax arrear" means,- (i) in relation to direct tax enactment, the amount of tax, penalty or interest determined on .....

Janki Das Lachchmi NaraIn Vs. Commissioner of Income-tax and anr.

Court : Allahabad

Reported in : (2005)196CTR(All)53; [2005]274ITR155(All)

..... along with the appeal, the petitioner has also filed an application for condonation of delay. in the meantime, by chapter iv of the finance (no. 2) act of 1998 (hereinafter referred to as 'the act'), the central government introduced the kar vivad samadhan scheme, 1998 (hereinafter referred to as 'the scheme'). the scheme was made applicable to direct ..... : [1956]29itr607(sc) , has held the question whether that proceeding was barred by limitation or not is irrelevant for determining whether under section 297(2)(d)(ii) of the income-tax act, 1961, the proceedings were pending or not. under the said section, actual pendency of a proceeding is required.18. in the case of sheth ..... 283 ; sir dinshaw mulla construing the word 'appeal' in the third column of article 182 of the limitation act observed :'there is no definition of appeal in the code of civil procedure, but their lordships have no doubt that any application by a party to an appellate court, asking it to set aside or revise a .....

Jyotsna Holdings Pvt. Ltd. Vs. Designated Authority Under the Kar Viva ...

Court : Delhi

Reported in : 2000IVAD(Delhi)461; 2000(53)DRJ696; [2000]243ITR246(Delhi)

..... took the matter in further appeal to the tribunal. while the appeal was pending, the government of india introduced the kvss, contained in chapter iv of the finance (no. 2) act, 1998, with a view to provide a quick and voluntary settlement of tax arrears outstanding as on 31st march, 1998. initially the scheme was to be ..... reference it is reproduced hereunder: 'sub: declaration under kvss intimation under section 90(1) of the finance (no. 2) act, 1998 - amendment thereof information reg. please refer to the above. an order u/s. 90(1) of the finance (no. 2) act, 1998, in form 2a was passed in your case vide order dated 21.10.1998 whereby tax arrears ..... taking up the afore noted questions for consideration, it would be necessary to briefly refer to the relevant provisions of the finance act. as noted above, the scheme is contained in chapter (iv) of the finance (no. 2) act, 1998, comprised in sections 86 to 98 (both inclusive) as also a schedule thereto. section 88 provides that subject to .....

All India Union Bank Officers and Others Vs. Union of India, rep. by i ...

Court : Chennai

..... )the value of any other fringe benefit or amenity (excluding the fringe benefits chargeable to tax under chapter xii-h) as may be prescribed. 7. but, by the amendment under finance (no.2) act, 2009, three items under clauses (vi), (vii) and (viii) were substituted for the existing clause (vi). in other words, after the amendment with effect from 1.4.2010, there are ..... appeared in brackets. 9. interestingly, many of the writ petitioners did not even notice the amendment that section 17(2) had undergone, under finance (no.2) act, 2009 and hence, the prayer made by some of them in their writ petitions, is to declare section 17(2)(vi) as unconstitutional. however, it should be pointed out that some writ petitions are filed in 2008 and some .....

The Chamber of Tax Consultants & Anr vs.union of India & Ors

Court : Delhi

..... also highlighted the fallacies concerning each of the tax ass.15. after almost two years, i.e., in july 2014, an amendment was made to section 145 of the act by the finance (no.2) act, 2014. the amended section 145 reads as under: section 145: method of accounting (1) income chargeable under the head "profits and gains of business or profession" or "income from ..... other sources" shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed by the wp (c) 5595/2017 .....

The Commissioner of Income-tax Vs. Mcdermott International Inc.

Court : Uttaranchal

Reported in : (2008)218CTR(Uttranchal)203; [2008]302ITR268(Uttaranchal)

..... record of assessing officer if the same is erroneous in law and prejudicial to the interest of the revenue. sub-section (4) of section 90 of the finance (no. 2) act, 1998, provides that appeals or references made by the declarant shall be deemed to have been withdrawn, and in the present case the appeal filed by the ..... here, the relevant provision of law applicable to the case. sub-section (3) and sub-section (4) of section 90 contained in chapter iv of the finance (no. 2) act, 1998, reads as under:(3) every order passed under sub-section (1), determining the sum payable under this scheme, shall be conclusive as to the matters stated ..... made to the designated authority under the provisions of section 89 of the finance (no. 2) act, 1998, and settlement order is passed under section 88 of aforesaid act, no matter covered under the settlement can be reopened as provided in sub-section (3) of section 90 of the finance (no. 2) act, 1998. admittedly, in the present case, a declaration is made by .....

Jyotsna Holdings (P) Ltd. Vs. Designated Authority Unde the Kar Vivad ...

Court : Delhi

Reported in : (2000)160CTR(Del)95

..... the matter in further appeal to the tribunal. while the appeal was pending, the government of india introduced the kvss, contained in chapter iv of the finance (no. 2) act, 1998, with a view to provide a quick and voluntary settlement of tax arrears outstanding as on 31-3-1998. initially the scheme was to be in ..... ready reference it is reproduced hereunder .''sub : declaration under kvss intimation under section 90(1) of the finance (no. 2) act, 1998-amendment thereof-information reg.please refer to the above.an order under section 90(1) of the finance (no. 2) act, 1998, in form 2a was passed in your case vide order, dated 21-10-1998, whereby tax ..... . before taking up the aforenoted questions for consideration, it would he necessary to briefly refer to the relevant provisions of the finance act. as noted above, the scheme is contained in chapter iv of the finance (no. 2) act, 1998, comprised in sections 86 to 98 (both inclusive) as also a schedule thereto. see. 88 provides that subject .....

Commissioner of Income Tax – Ii, Lucknow Vs. Ms. Lucknow Public Educ ...

Court : Allahabad

..... of section 153a.explanation.-- in this section, valuation officer has the same meaning as in clause (r) of section 2 of the wealthtax act, 1957 (27 of 1957).8. the section was inserted by the finance (no.2) act, 2004 with effect from 15.11.1972 to confer power on the assessing officer, to refer the matter to the ..... , decided on 23.02.2006. in the said case, the court found that the tribunal had not considered the provisions of section 142a of the act which was introduced by finance act no. 2 of 2004 with retrospective effect. this again really has not answered the issue. 15. the issue for consideration is, whether the assessing officer, under ..... officer was not justified in making reference to the departmental valuation officer, ignoring the retrospective effect of the provisions of section 142a of the act? section 142a was inserted by the finance act, 2004 with retrospective effect from november 15, 1972. the high court, after considering various judgments, was of the view that the income .....

Union of India and anr. Vs. Ms Nitdip Text. Processors Pvt. Ltd. and o ...

Court : Supreme Court of India

Reported in : 2011(4)KLT134(SN); 2012(1)SCC226; 2012(2)SCJ617; AIR2012SCW2723; 2012(2)KCCR61SN

..... reduced payments instead of the disputed liability and immunity from prosecution. 3... 3.1. the relevant extracts containing provisions of the samadhan scheme as incorporated in the enacted finance (no. 2) act, 98 (21 of 1998) are enclosed herewith. the salient features of the samadhan scheme in relation to indirect taxes are briefly discussed below:- 4. applicability of the ..... were issued after 31.03.1998 and further, has struck down the expression on or before the 31st day of march 1998 under section 87(m)(ii)(b) of the finance (no. 2) act, 1998 as ultra vires of the constitution of india and in particular, article 14 of the constitution on the ground that the said expression prescribes a ..... of the scheme. aggrieved by the judgment and order, the revenue is before us in this appeal. 5) the scheme was introduced by finance (no.2) act and is contained in chapter iv of the act. the scheme is known as kar vivad samadhana scheme, 1998. it was in force between 1.9.1998 and 31.1.1999. briefly, .....

State Bank of India Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1983)6ITD225(Kol.)

..... law stood during the assessment year and the ito did not allow deduction correctly under section 80m. sections 80aa and 80ab were introduced in chapter via by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 and 1-4-1981. it has been stated earlier that for reopening the assessment under section 147(b), only ..... that suspense account interest was not taxable was subsequently confirmed by the cbdt in its letter f. no. 207/10/1973 it (a-ii), dated 16-4-1973 which was addressed to the income-tax adviser and ex-officio deputy secretary, finance department, haryana civil secretariat. even if the decision of the kerala high court is considered along ..... that this enhancement application cannot be accepted. section 36(4) of the state bank of india act has specifically stated that no amount applied for any of the purposes specified in sub-section (2) shall for the purposes of the indian income-tax act, 1922, be treated as income, profits or gains of the state bank. if the amount .....