2024 Cit v vatika township

Cit v vatika township

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August undefined, 2024

WebVatika Township Pvt. Ltd. [2014] 367 ITR 466 (SC) Section 206AA(1)(iii) simply provides for deduction of tax 'at the rate of twenty percent.' Unlike Section 113 and other provisions as discussed above, there is no mention for the levy of any surcharge, education cess, etc. on such rate of 20 per cent. WebJul 7, 2024 · [Refer: CIT v. Vatika Township (P) Ltd.: 367 ITR 466 (SC)]. In the present law, section 1 of the Act is ex-facie clear in stating that the law shall come into force on 1 st July, 2015 and as per section 3, charge of tax is from assessment year 2016-17 and onwards.

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WebThe tax department relied on the decision of Vatika Township5and contended that the insertion of Explanation 5 and 6, though by the virtue of the Finance Act, 2012, is only a declaratory and clarificatory amendment explaining the law as existing from 1 June 1976. WebSep 10, 2010 · It is Shri Chandan Basu who has to bear the cost of construction. ON the basis this statement stand of the assessee could be that Rs. 81 lacs was to come from … summer clothes uk women

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WebOct 14, 2014 · Subsequently the larger bench of the Honble Supreme Court has considered the very same issue in the case of CIT Vs. Vatika Township (P) Ltd (2014) (49 … Webi) CIT .v. Vatika Township Pvt. Limited [2014] 367 ITR 466 (SC) ii) Ansal Housing and Construction Ltd., .v. ACIT (2016) 389 ITR 373, Delhi HC B. RETROSPECTIVITY … WebMar 10, 2024 · 1. CIT vs. S. Sripal Reddy (2013) In this case, the court held that a genuine transaction cannot be disregarded on the ground of mere suspicion. 2. CIT vs. Vatika … palace theater in louisville kentucky

CIT VS VATIKA TOWNSHIP PVT LTD (2015) 1 SCC 1 - StuDocu

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WebMay 15, 2024 · In the case of CIT vs. Hindustan Organics Chemicals Ltd [2014] 366 ITR 1 (Bom.) (Para 9) held that where assessee company made payment of employees contribution towards provident fund, assessee’s claim could not be disallowed on account of delayed payment in view of amendment to section 43B. In CIT v. Web• CIT v. Vatika Township (2014) 367 ITR 466 (SC) (5-judges) “If the concerned provision of the taxing statute is ambiguous and vague and is susceptible to two interpretations, the … summer clothes word searchWebSep 26, 2014 · 1 CIT v. Vatika Township Private Limited [TS-573-SC-2014] the circular 2of the Central Board of Direct Taxes (CBDT), the Commissioner of Income Tax (CIT) was … palace theater in vinton iowa

"WebJan 10, 2009 · In CIT vs. Suresh N. Gupta 297 ITR 322, the Supreme Court held that the Provio to s. 113 (which imposes surcharge on block assessments), though inserted only with effect from 1.6.2002, was applicable to searches conducted prior to that date as it was ‘clarificatory’ and ‘curative’ in nature. " - Cit v vatika township

Cit v vatika township

CIT vs. CitiBank N.A. (Supreme Court) – itatonline.org

WebSep 16, 2014 · CIT vs. Vatika Township (Supreme Court – Full Bench) – itatonline.org. Click Here For Best Books On Taxation & Law. Upto 60% Off On Select Titles. Free … WebOct 18, 2024 · Vatika Township Private Limited, [ (2015) 1 SCC 1] wherein the following had to be specified: Taxable event attracting the levy; Clear indication of the person on whom the levy is imposed; Rate...

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WebThe CIT (A) further held that Section 2 (22) (e) of the Act creates a fiction by bringing to tax an amount as dividend when the amount so received is otherwise then dividend. Therefore, Section 2 (22) (e) of the Act has to be strictly read. 8. WebThe tax department relied on the decision of Vatika Township5 and contended that the insertion of Explanation 5 and 6, though by the virtue of the Finance Act, 2012, is only a …

WebOct 24, 2024 · CST, [1985 Supp SCC 205] and CIT v. Vatika Township Private Limited, [ (2015) 1 SCC 1] wherein the following had to be specified: Taxable event attracting the levy; Clear indication of the person on whom the levy is imposed; Rate at which the tax is imposed; and Measure or value to which the rate will be applied for computing the tax … WebMar 10, 2024 · CIT vs. Vatika Township Pvt. Ltd. (2015) The court held that the revenue cannot disregard a transaction that is genuine and bonafide. 3. CIT vs. Kelvinator of India Ltd. (2010) In this case, the court held that a mere change of opinion by the assessing officer cannot be a reason for reopening of an assessment. 4. CIT vs. Alom Extrusions …

WebJun 5, 2024 · You may refer to CIT v. Vatika Township Private Limited 2014 (9) TMI 576 - SUPREME COURT wherein the SC has clarified prospective and retrospective operation of tax amendments elaborately. Since this amendment is not beneficial to assessee, under the normal rule of presumption, the amendment will not have a retrospective effect. 1 Post … WebJan 31, 2024 · ITAT set aside the order of CIT (A) and restored the issue back to the file of the Assessing Officer for de novo adjudication without invoking the provisions of Rule 8D. Against the order of ITAT, the revenue filed an appeal before the High Court. The High Court following its earlier judgment of Godrej and Boyce Manufacturing Company Limited Vs.

WebJan 21, 2024 · Vatika Township (P) Ltd.[9] that “The idea behind the rule is that a current law should govern current activities. Law passed today cannot apply to the events of the …

Web• CIT vs. T.V. Sundaram Iyyengar (1975) 101 ITR 764 (SC) “The hypothetical illustration which was cited before the Income-tax Officer and which is relied upon by the High Court may at the highest, if its fundamental premise is true, show that the interpretation canvassed by the Revenue may conceivably work out injustice. summer clothes year roundWebMar 23, 2024 · With Budget 2024, an amendment has been proposed to clarify that expense disallowance under the said section shall apply and shall be deemed to have always … palace theater in waterburyWebJan 2, 2024 · A five-Judge Bench decision of the Supreme Court in Vatika Township [17] traversed through competing jurisprudential theories to declare the need to balance the … palace theater light bulbWebCIT VS VATIKA TOWNSHIP PVT LTD (2015) 1 SCC 1 Whether the surcharge levied by way of inserion of the proviso to secion 113 of the income Tax Act 1961, by the … palace theater in metairie laWebNov 23, 2024 · Relying upon the spirit of the Supreme Court decision in the case of Vatika Township (P.) Ltd. [2014] 49 taxmann.com 249, the Tribunal held that if a fresh benefit is provided by the Parliament in an existing provision, then such an amendment should be given retrospective effect. summer cloth hats for womenWebJul 27, 2024 · Vatika Township Pvt. Ltd. 2 has laid down the following guidelines with respect to retrospective application of amendments: 1. Unless a contrary intention appears, a legislation is presumed not to be intended to have a retrospective operation. This principle of law is known as lex prospicit non respicit : law looks forward not backward. 2. palace theater kinsley ks summer clothing and shoes for women now