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“Section 2(420)”

Section References (mined)Section 2Section 2(420)1 judgments

The decision most relied on for Section 2(420) is CIT v. Jagdishprasad M. Joshi (318 ITR 420), cited in 38 judgments on BharatTax.

Leading authorities on Section 2(420)

CIT v. Jagdishprasad M. Joshi
318 ITR 420 · 2009 · High Court
38
citing judgments

Interest income earned by an assessee on fixed deposits and other interest income is eligible for deduction under Section 80-IA of the Income-tax Act, 1961.

Director of Income Tax (Exemption) v. Raunaq Education Foundation
350 ITR 420 · 2013 · Reported
17
citing judgments

For the purpose of Section 80G, the date of donation is the date the cheque is received, even if it is encashed in the next financial year. Payment relates back to the date of cheque delivery.

2004 (2) MH.L.J: ABDUL RAZAK HAJI ISMAIL v. DIRECTOR OF ENFORCEMENT, NEW DELHI AND OTHERS
4 SCC 620 · 2006 · Reported
14
citing judgments

The court in this case affirms that a person accused under IPC sections 420 and 506, when facing investigation related to a scheduled offense, can be subject to proceedings under relevant laws.

Joint Commissioner of Income Tax v. Chambal Fertilizers and Chemicals Ltd.
145 Taxmann.com 420 · 2022 · Supreme Court
13
citing judgments

Surcharge or cess forms part of 'tax' and cannot be allowed as a deduction when computing business profits. This is clarified by Explanation 3 to Section 40(a)(ii) of the Income-tax Act, effective from 1 April 2005.

Judgments citing Section 2(420)

Tmf Holding Ltd., Mumbai vs. Pr. CIT -1, Mumbai

ITA 1628/MUM/2020[2015-16]Status: DisposedITAT Mumbai22 Apr 2022AY 2015-16

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bletmf Holdings Ltd., V. Pr.Cit – 1 {Formerly Known As Tata Motors Finance Ltd.,} 3Rd Floor, Room No. 330 10Th Floor, 106 A & B Aayakar Bhavan, M.K. Road Maker Chamber-Iii Mumbai - 400020 Nariman Point, Mumbai Pan: Aacct4644A (Appellant) (Respondent) Shri Nikhil Tiwari Assessee By : Department By : Shri S.N. Kabra

For Appellant: Department byFor Respondent: Shri S.N. Kabra
Section 115JSection 143(3)Section 14ASection 263Section 47

provision to determine the cost of acquisition of the business undertaking. 36. In order to tax the gains arising from slump sale transaction, section 2(420) (which defines the term 'slump sale') and section 50B (which lays down a special mechanism for computing the gains therefrom) were inserted ... section 45 of the Act. Thus, after the insertion of Section 50B, the profits or gains arising from slump sale, as defined in Section 2(420), became chargeable under the head "Capital Gains" under section 45 of the Act. 39. It is further pertinent to note that the transaction