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infosys Technologies Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2003)86ITD342(Bang.)

..... assessee, is liable for payment of interest under section 201(1a) of the act.3. infosys technologies ltd. is a public limited company in the information technology industry. it has formulated an employee stock option plan (esop). a trust was set up by the infosys technologies ltd. the trust was allotted warrants of re. 1 each, each warrant ..... shares. explanation to the proposed sub-clause (iiia) defines the expression 'cost', 'specified security', 'sweat equity shares' and 'value' used in that sub-clause. this amendment will take effect from 1st april, 2000, and will, accordingly, apply in relation to the asst. yr. 2000-01 and subsequent assessment years." it is, therefore, clear ..... when the company was supposedly required to deduct the tax at source : (i) the committee constituted by the central government to recommend the suggestions and amendments to companies act did suggest that the esop benefit has to be taxed only at the point of sale and not at the time of exercise or any other time .....

Surendra Kumar JaIn Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2004)85TTJ(Nag.)285

..... f. 1st april, 1989, which extended the period of eight years to ten years. that being the position, the amending act having come into force before expiry of the period prescribed under the old act, the notices issued could not be challenged as being time-barred and without jurisdiction." 114. the decisions relied by ..... assessee. hence to bring to tax such escaped income, the ao initiated action under section 147 after complying with all the statutory formalities. therefore, the information, which enlightened the escapement of sizeable income, and the investigation and verification of the same with reference to the facts disclosed by the assessee in the ..... various points raised by him in connection with assessment of his escaped income in the reassessment proceedings. the assessee, however, once again did not divulge any information in order to offer his explanations/clarifications in the matter and persisted with his earlier stand by raising his following objections : (1) the assessee has .....

Uma Polymers (P) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2006)284ITR1(Jodh.)

..... discretion and without assigning any reason therefor decline to register a transfer of any share whether fully paid or partly paid.a pubic company, as per the companies (amendment) act means a company which : 19. now we shall discuss the lifting the corporate veil specially in the case of private limited company for protection of revenue. in ..... assessee had submitted a return and given detailed particulars of his assessment, like gir no., etc., the same is entitled to proper weight. having regard to the information collected by the ao from banks of the creditors, identity of the creditors was fully established, the creditors were also found to be assessed to tax.having regard ..... book which may please be referred.21. it is evident from above that in all the cases, except that of shri virendra raj lodha, the ao got information about account of the creditors from their respective banks. photocopies of bank statement of creditors obtained by the ao are available on record. a perusal of aforesaid .....

Hardayal Singh Vs. Income Tax Officer

Court : Punjab and Haryana

Reported in : (2004)188CTR(P& H)583; [2004]268ITR385(P& H)

..... the directors of the company is concerned, we might add that section 278b which was brought on the statute book w.e.f. 1st oct., 1975, by the taxation laws (amendment) act, 1975, makes only the director who was incharge of the business of the company guilty of the offences in question. since the offences were committed in the year 1965-66 ..... for the respondent that the accused had furnished fresh it return for the asst. yr. 1973-74 even subsequently and on that basis the accused could be prosecuted under the amended act, in my opinion, is misconceived. copy of the criminal complaint filed by the ito is available on the record as annex. p-1. there is not even a word ..... certain books of account relating to the asst. yr. 1973-74 and notice under section 131 of the it act was served on accused no. 1. it was alleged that on the basis of the information collected, the ito served notice under section 148 of the it act upon accused nos. 2 and 3 for reopening the assessment for the asst. yr. 1973-74. .....

Commissioner of Wealth Tax Vs. Ellis Bridge Gymkhana, Etc. Etc.

Court : Supreme Court of India

Reported in : (1997)143CTR(SC)138

..... defines tribunal to mean the tribunal constituted under s. 252 of the indian it act. various authorities under the act like chief cit, cit, addl. cit, asstt. cit have been given the meanings respectively assigned ..... in the case of an assessee there are different previous years under the it act for different sources of income, the valuation date for the purposes of this act shall be the last day of the last of the previous year. this proviso was deleted by the direct tax laws (amendment) act, 1987, w.e.f. 1st april, 1989.sec. 2(b) ..... or an aop or a boi as taxable units of assessment.9. the position has been placed beyond doubt by insertion of s. 21aa in the wt act itself. this amendment was effected by the finance act, 1981, w.e.f. 1st april, 1981. it provides for assessment of aop in certain special cases and not otherwise. sec. 21aa is :'assessment .....

Firos Vs. State of Kerala

Court : Kerala

Reported in : AIR2006Ker279; 2006(3)KLT210; 2007(34)PTC98(Ker)

..... conflict (see: jogendra lal saha v. stale of bihar and ors. : air1991sc1148 ). a harmonious construction of copyright act and information technology act is necessary and questions regarding the 'copyrights' for the computer system, electronic devices and other works under the information technology act are covered by the copyright act. copyright (amendment) act, 1999 shows that copyrights with regard to the data work, data basis, computer work etc. are specifically covered ..... under the copyright act. all matters connected with copyright can be resolved by the provisions in the copyright act as it is a special act for that purpose and matters regarding information technology have to be resolved .....

Commissioner of Income Tax Vs. Abdul Rahim Khan M. Pathan

Court : Gujarat

Reported in : [2000]243ITR409(Guj)

..... the benefits of the partnership. (5) the assessee rahim married with his brother's widow ayshabegam on 22nd february, 1970. (6) the definition of child came to be amended by taxation laws (amendment) act, 1975, w.e.f. 1st april, 1976, whereby, 'child' in relation to individual included a step-child and also an adopted child of that individual. 25. in ..... this stage, it would also be expedient and material to have a look at the definition of child. in s. 2(15a) which came to be inserted by taxation laws (amendment) act, 1975, w.e.f. 1st april, 1976, the expression child is defined. it reads as under : '(15a) 'child', in relation to an individual, includes a step-child ..... and appropriate case for reopening or making a reassessment exercising powers of the provisions of s. 147 r/w s. 148 of the it act, 1961, and, therefore, the tribunal ought to have held that even after amendment in the definition of 'child' which came into force w.e.f. 1st april, 1976, would not influence or affect the rights .....

Commissioner of Income-tax Vs. Rane (Madras) Ltd.

Court : Chennai

Reported in : [1996]217ITR673(Mad)

..... the final order was made by the cit on 30th nov., 1978, which is after the coming into force of the amended act on 1st april, 1971, the assessee is entitled to recomputation of his income under the surtax act in consequence of the order passed by the cit in his income-tax assessment. accordingly, we hold that the order passed ..... upon ito vs . s. k. habibullah : [1962]44itr809(sc) wherein the supreme court while considering the amended provisions of s. 35(5) of the indian it act, 1922, held 'clause (5) of s. 35 of the it act which was enacted by the it (amendment) act, 1953, is not declaratory of the pre-existing law, nor a matter relating to procedure, but affects vested ..... as under : 'held, on the facts, that the tribunal was right in holding that the ito could not invoke s. 14 of the companies (profits) surtax act, 1964, as amended w.e.f. 1st april, 1971, by the taxation laws (amendment) act, 1970, to recompute chargeable profits in a case where the order of the tribunal under s. 254 of the .....

A.Shankar Vs. Deputy Superintendent of Police

Court : Chennai

..... which may extend upto two lakh rupees or with both. the information technology act 2000 has been amended by the parliament with effect from 27.10.2009 by way of the information technology (amendment) act, 2008, in and under which, the word ''hacking'' has been removed in the amended act, 2008 and section 66 has been replaced as follows: 66 ..... .computer related offences: if any person, dishonestly or fraudulently, does any act referred to in section 43, he shall ..... is the present criminal revision is one for altering the charges, based on the relevant provisions of the amended information technology act, 2008. the charges are no doubt framed under sections 66, 70 and 72 of the information technology act 2000. originally, the charges framed against the petitioner are as follows: (i)that on 1.4 .....

K. Raveendranathan Nair Vs. Commnr. Of Income Tax .

Court : Supreme Court of India

..... procedure or an alteration regulating the exercise of the right of appeal, but whittled down the right itself, and it had no retrospective effect as the amendment act of 1950 did not 1 1953 scr9875 expressly or by necessary intendment give it retrospective effect, and the appeal could not therefore be rejected for non-payment ..... appeals. thus, with the omission of clause (b) of sub-section (2) of section 260a of the it act, fee became payable on such appeals as per section 52. the state legislature thereafter amended the 1959 act by amendment act of 2003 and inserted section 52a therein, which was passed on march 06, 2003. in fact, before that ..... an ordinance was promulgated on october 25, 2002 which was replaced by the aforesaid amendment act, the act categorically provided that section 52a is deemed to .....