Section 2 in The Income Tax Act, 1961 [Entire Act]
Section 2 in The Income Tax Act, 1961
2. Definitions.
In this Act, unless the
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1 - 10 of 20902 (6.58 seconds)Utsav Cold Storage P Ltd., Jodhpur vs Ito, Jaipur on 11 June, 2018
section 47 and section
49 of the Act, it is clear that section 47 deals with the transaction not
regarded as transfer whereas section ... sections
operate and work in different forum and there is no over-lapping of the
section. It held that section 47(xiii) provides that
Ram Krishan Kulwant Rai, Chennai vs Acit Central Circle 2(3), Chennai on 29 October, 2018
purposes of capital
gains under section 45(4) of the Act. By insertion of section 47(xiii)
in the Act, it cannot be said that ... firm
within the meaning of section 45(4) and only if condition as
contained in section 47(xiii) are complied, the exemption will be
available
The Commissioner Of Income Tax vs M/S Prakash Electric Company on 23 July, 2018
47(xiii)(b) are not
satisfied?
(2) When any of the conditions mentioned in
proviso to clause 47(xiii)(b) are not
complied, would Section ... gains
tax liability by virtue of Section 47(A)(3) of the Act read
with Section 47(xiii
M/S. Atria Wind (Kadambur) Private ... vs Deputy Commissioner Of Income Tax, ... on 15 October, 2024
u/s 2(14) of the Act and similarly Section 2(47) of the Act
defines the transfer in relation to a capital asset. Section ... xiii)
of Sec 47 of the Act in which the statute imposed some conditions by
way of proviso to Section 47 (xiii
The Asst. Commissioner Of Income-Tax vs Unity Care And Health Services on 17 June, 2005
insertion of Section 47(xii) has not changed the situation. Section 47(xiii) merely excludes certain transfer from the purview of the definition ... purposes of capital gains Under Section 45(4) of the Act. By insertion of Section 47(xiii) in the Act, it cannot be said that
Dharmanandan Diamonds P.Ltd, Mumbai vs Deputy Commissioner Of Income Tax ... on 15 March, 2019
understanding of the issue at hand we reproduce the
provisions of section 47(xiii) of the Act as below:
[(xiii) 18[any transfer ... company is exempt from tax if certain conditions as specified under section
47(xiii) are fulfilled. In the present case, before us, the company
Updater Services Pvt. Ltd., Chennai vs Assessee on 20 March, 2009
provisions of section 47A(3) .
2.4 The CIT failed to appreciate that the conditions enumerated in the
Proviso to sec.47(xiii) are satisfied ... issue on which provisions of section 263 have been invoked. There is
no specific provision provided under section 47(xiii) of the Income
M/S. Pik Studios P. Ltd (Formerly Known ... vs Ito 8(2)(4), Mumbai on 5 March, 2020
Proviso to section 32(1)(ii) is clearly applicable in the instant case. This
provision includes clause (xiii) of section 47 i.e. conversion ... following cases of succession of firm by a company as per Section
47(xiii), depreciation has been allowed on revalued amount:
a) DCIT v Suyash
The Acit, Circle-3(2),, Ahmedabad vs Vishal Engineering & Galvanizers,, ... on 25 June, 2019
under section 48 de
hors section 45(4) and if one reads section 48 with section 45(1) de hors
section 45(4) then ... principle even for purposes of
capital gains under section 45(4) . By insertion of section 47(xiii) , it
cannot be said that the conversion