CiteTEXT
...assessment year unless otherwise provided expressly or by necessary implication. (See also Reliance Jute and Industries Ltd. ...necessary implication. (See also Reliance Jute and Industries Ltd. v. CIT...Ms.Easha Kadian, Advocate.
versus
M/S ERA INFRASTRUCTURE (INDIA) LTD. ..... Respondent Through: None.
% Date of Decision: 20th...
...implication. (See also Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139.) An Explanation to a statutory provision may fulfil the purpose...
...Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139, (1979) 120 ITR...)(iii) of the Act.3. In Virtual case (2007) 9 SCC 665 the Department placed reliance on Notes on Clauses relating to the aforesaid amendment to submit that the amendment...court has to examine the scheme of the statute prior to the amendment and subsequent to the amendment to determine whether amendment is clarificatory or substantive.9. In...
...effect from April 1, 1989, it will apply to the assessment year 1989-90 and onwards. The Supreme Court in Reliance Jute and Industries ...a decision of this court in Indo-Gulf Fertilizers and Chemicals Corporation Ltd. v. Union of India [1992] 195 ITR 485.4...Fertilizers and Chemicals Corporation Ltd. [1992] 195 ITR 485, this decision was delivered in 1992 and hence this court could obviously not be aware of the amendment which was made in 1993. Thus, there is no...
...Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139 at p. 141, para 6.) Same principles have been followed in...of the said Company was of 52 lakh shares of Rs 10 each at a premium of Rs 3.50 per share aggregating to Rs 7 crore 2 lakhs. The lead managers to the issue were Bank of Baroda and Apple Industries...arises is noted as under. The respondent was appointed the Joint Managing Director of Trident Steel Ltd. (hereafter referred to as “the said Company”) on or about 20-5-1993. The Board initiated certain...
...Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139 , 1980 SCC (Tax) ...Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139 , 1980 SCC..., definition and conditions, are all decided by and are dependent on the provisions of the relevant DC Rules. In contrast, the judgment in Reliance Jute and Industries Ltd. (1980)...
...Reliance Jute and Industries Ltd. v. Commissioner of Income-tax, West Bengal, (1979) 120 ITR 921, Commissioner of Income-tax v. Gosli...approached this Court.3. We have heard the learned counsel for the appellant and learned Special Government Pleader.4. No doubt learned counsel for the appellant would point out...that each assessment must be decided with reference to the law applicable for that assessment and in this regard reference is placed on decisions of the Apex Court reported in...
...Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139, (...includes losses, that is, negative profit. This has been held so on the strength of earlier judgments of this Court in CIT v. Harprasad and Co. (P) Ltd...(2008) 9 SCC 622, (2008) 304 ITR 308, the expression “income” in the statute appearing in Section 2(24) of the Act has been ...
...support of the proposition, it is found in the judgment of the apex court in Reliance Jute and Industries Ltd. v. CIT, [1979] 120 ITR 921...French (India) Ltd. v. CIT, [1996] 219 ITR 581, wherein the Supreme Court held that the surtax levied under the...
.... (See also Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139.) An Explanation to a statutory provision may fulfil the purpose of...statute should ordinarily be given a purposive construction. (See New India Assurance Co. Ltd. v. Nusli Neville Wadia (2008) 3 SCC....”36. A similar interpretation was rendered by Lord Hope of Craighead in Wilson v. First County Trust Ltd. (No. 2) (2004) 1 AC 816...
...year unless otherwise provided expressly or by necessary implication. (See also Reliance Jute and Industries Ltd. v. CIT [(1980) 1 SCC...obligation; debitum in praesenti, solvendum in futuro. This aspect of the matter was explained in the judgment of this Court in Kesoram Industries and Cotton Mills Ltd. v. CWT...the precedents relied upon by the assesse delivered prior to the enactment of Finance Act, 2006. As regards the decision in Shakti Spring Industries...
...implication. (See also Reliance Jute and Industries Ltd. v. CIT (1980) 1 SCC 139.) An Explanation to a statutory provision may fulfil the...keep pace with the changes in the organisation and structure of industries besides accounting for emerging economic activities. NIC, 2004 is the revised version of the earlier classification standard...(2005) 3 SCC 73 whereupon again Mr Parasaran placed strong reliance, this Court, while dealing with an exemption notification which is a piece of subordinate legislation...
...year unless otherwise provided expressly or by necessary implication (vide : Reliance Jute and Industries Ltd. v. CIT...a very wide meaning.10. The Gujarat High Court in CIT v. Elecon Engineering Co. Ltd., [1974] 96 ITR 672...the accomplishment of the trading purpose. The above view was also confirmed by the apex court in CIT v. Elecon Engineering Co. Ltd., [1987] 166 ITR 66.11. Agreeing...
..., [1966] 60 ITR 262 (SC), the Supreme Court observed in ...CIT v. Scindia Steam Navigation Co. Ltd., [1961] 42 ITR 589 and...CIT v. Scindia Steam Navigation Co. Ltd., [1961] 42 ITR 589 (SC) and...
...has been discussed from paragraphs 32 to 36 wherein relying upon the decision of Supreme Court more particularly in case of M/s Reliance Jute and Industries Ltd. Vs. C.I.T. West...during assessment would not be a justified ground to re- initiate proceedings. 34. Further, in the matter of M/s. Reliance Jute and Industries Ltd. v. C.I.T., West...has already been made for the respective years i.e. 2007-08, 2008-09 and 2009-10 as held in M/s. Reliance Jute and Industries Ltd. (supra). The assessing authority in the order of reassessment has...
...Reliance Jute and Industries Ltd. v. CIT, [1979] 120 ITR 921 (SC).6. These are well-settled propositions of income-tax law. The question is whether payment of interest on th...; interest which is in the nature of compensation and not penalty as held in Central Provinces Manganese Ore Co. Ltd. v. CIT, [1986] 160...unjust” as stated in a similar context in D'Souza (A.J), CIT v. Bombay Burmah Trading Corporation Ltd., [1987] 165 ITR 460 (Bom).5. Shri D.N Choudhury, appearing for the...
...tax. This interpretation will be advancing the cause of justice. In this connection, our attention was invited to a decision of the Supreme Court in the case of Reliance jute and Industries Ltd. v...return at the time when a particular law was in existence and if it is retrospectively amended, the assessee cannot be held liable for filing a wrong return and cannot be subjected to levy of additional...Court in the case of Modern Fibotex India Ltd. v. Deputy CIT, [1995] 212 ITR 496 in which a similar view has been taken. It has been held as...
...by necessary implication. In Reliance Jute and Industries Ltd. V CIT (1981) 2 SCC 585 also this proposition law is recognized...Supreme Court in the case of CIT vs. Reliance Telecom Ltd. (2022) 440 ITR 1 (SC), the powers u/s 254(2) being recognized as.... (2010) 321 ITR 508 (Del.) and SPL Industries vs. CIT (2011) 9 Taxmann.com 195 (Delhi), the...
...relevant assessment year unless otherwise provided expressly or by necessary implication. In Reliance Jute and Industries Ltd. V CIT...otherwise, after the judgement of the Hon'ble Supreme Court in the case of CIT vs. Reliance Telecom Ltd. (2022) 440 ITR 1.... (2010) 321 ITR 508 (Del.) and SPL Industries vs. CIT (2011) 9
2...
...the relevant assessment year unless otherwise provided expressly or by necessary implication. In Reliance Jute and Industries Ltd. V CIT....
8. Even otherwise, after the judgement of the Hon'ble Supreme Court in the case of CIT vs. Reliance Telecom Ltd.... (2010) 321 ITR 508 (Del.) and SPL Industries vs. CIT (2011) 9...