Court : Karnataka
..... d) in the alternative and without prejudice to the relief at prayer (c), have sought for declaration that section 136 of the finance act, 2001 under which there has been a levy and collection of nccd has been impliedly repealed with effect from 01.07. ..... legality of levy of nccd as per section 136 of the finance act, 2001 section 136 of the finance act, 2001 provides for levy of nccd and section 136 (1) and (2) are extracted herein below for ..... the apex court has clearly opined that the surcharge leviable under section 2 (1) of the finance act, 1963 are relatable to article 271 of the constitution of ..... the central excise tariff act, 1985 stood repealed by section 174 of the cgst act, the reference to the central tariff act, 1985 in the seventh schedule of the finance act, 2001 is otiose ..... c) declaration that section 136 of the finance act, 2001 under which there is levy and collection of national calamity contingent duty (hereinafter referred to as nccd ) ..... as per section 136 of the finance act, a surcharge by way of duty of excise at the rates specified in the schedule ..... levy of nccd as per section 136 of the finance act, 2001 d. ..... the apex court has also observed that the income tax act and annual finance acts are enacted by the parliament in exercise of the power conferred by article ..... nccd is a surcharge by way of duty of excise, its validity rests on the validity of the provision of the 56 finance act of 2001 and has nothing to do with the validity of leviability of the duty of excise. .....
Tag this Judgment!Court : Karnataka
..... d) in the alternative and without prejudice to the relief at prayer (c), have sought for declaration that section 136 of the finance act, 2001 under which there has been a levy and collection of nccd has been impliedly repealed with effect from 01.07. ..... legality of levy of nccd as per section 136 of the finance act, 2001 section 136 of the finance act, 2001 provides for levy of nccd and section 136 (1) and (2) are extracted herein below for ..... the apex court has clearly opined that the surcharge leviable under section 2 (1) of the finance act, 1963 are relatable to article 271 of the constitution of ..... the central excise tariff act, 1985 stood repealed by section 174 of the cgst act, the reference to the central tariff act, 1985 in the seventh schedule of the finance act, 2001 is otiose ..... c) declaration that section 136 of the finance act, 2001 under which there is levy and collection of national calamity contingent duty (hereinafter referred to as nccd ) ..... as per section 136 of the finance act, a surcharge by way of duty of excise at the rates specified in the schedule ..... levy of nccd as per section 136 of the finance act, 2001 d. ..... the apex court has also observed that the income tax act and annual finance acts are enacted by the parliament in exercise of the power conferred by article ..... nccd is a surcharge by way of duty of excise, its validity rests on the validity of the provision of the 56 finance act of 2001 and has nothing to do with the validity of leviability of the duty of excise. .....
Tag this Judgment!Court : Karnataka
..... being a prize money given by a club to the race horse owner, 13 there is no element of a winnings as defined under the act and it is also not winnings of race horses because when section 194b was introduced and sought to be amended, the then finance minister made a speech on the floor of parliament making it explicitly clear and indicating thereunder that by finance act , 1986 section115bb has been inserted to provide gross winnings from lotteries, crossword puzzles, races including horse races ..... the revenue has made an attempt to contend that on account of the words or card game and other similar game introduced by way of insertion to section 194b by finance act, 2001 would encompass the income by way of stake money and 126 thereby an obligation is cast on the turf clubs to deduct the tax at source on such stake money paid to the race horse owners requires to be considered ..... was introduced to entail deduction of tax at source 30 specifically on winnings from horse races and draws the attention of this court to explanatory notes of finance act, 1978 as found in circular no.240 dated 17.05.1978 which clearly specifies that the provisions of section 194bb would not apply to stake money as they are not regarded as winnings from a horse race but constitute prize monies which an owner of an horse receives on account of his horse winning some position in the ..... sen, aac (1965) 56 itr198and the other in ellerman lines ltd., v. ..... sen (1965) 56 itr198and ellerman lines ltd., v. .....
Tag this Judgment!Court : Karnataka
..... argued that the tax can only be levied under the act on the total income other than 'agricultural income' and parliament by section 2 of the finance act is really levying tax on agricultural income of the assessee and as the agricultural income can only be taxed under entry 46 in list ii of the seventh schedule, by a state, parliament had no competence to enact a provision in the finance act and thus levy tax on agricultural income of an ..... it was, therefore, argued on behalf of the petitioner that under section 10(1) agricultural income has to be excluded in computing the total income of an assessee and agricultural income not being income forming part of the 'total income' on which no tax is payable under chapter vii, the provision in the finance act which provides for aggregating the agricultural income with the net income of the assessee for purposes of ..... state of bihar : [1985]154itr64(sc) , sub-section (1) of section 5 of the bihar finance act, 1981, provided for the levy of surcharge on every dealer whose ..... the definition of 'gross turnover' in section 2(j) of the bihar finance act, 1981, is adopted not for the purpose of subjecting agricultural income to tax, but only for the purpose of classifying and identifying the assessees who are capable of paying ..... income-tax under entry 82 in list i of the seventh schedule to take into account the total income of an assessee and the net agricultural income as has been done by sub-section (2) of section 2 of the finance act, 1976. .....
Tag this Judgment!Court : Karnataka
..... and thirdly, a demand was made for payment of the service tax immediately without complying with the procedure envisaged under the act by issuing a show-cause notice in the first instance, the respondent-assessee challenged the said order dated 9.1.2006 before the cestat by invoking section 86 of the finance act, 1994, in which a contention was raised by the revenue that such an appeal was not maintainable and that ..... we direct the competent authority to pass an order after giving an opportunity of being heard to the respondent-assessee and complying with all other mandatory requirements of section 73 or 84 of the finance act as the case may be and pass fresh orders in accordance with law.therefore substantial questions of law no. ..... written by the commissioner of service tax is an 'order' and therefore appealable under section 86 even when the said letter/order is not passed under sections 73, 83a, 84 or 85 of finance act, 1994?4.2 whether 'international freight'' activity of the assessee fall under entry in section 65(105)(f) of finance act, 1994 as clarified in board's circular f. no. ..... on behalf of the respondent that the appeal filed before the tribunal and the same was maintainable in view of the procedure envisaged under section 84 of the finance act, 1994 was not complied with by the department before passing the order dated 9.1.2006 and that the order impugned before the tribunal was in fact an order under section 84 of the said act and not just a letter or a communication. .....
Tag this Judgment!Court : Karnataka
Reported in : 2004(174)ELT313(Kar); 2006[3]STR404
..... 100/- per day is not prescribed under section 76 of the finance act, 1994, and therefore the questions formulated above are required to be referred to this court for consideration. ..... whether the reviewing authority's interpretation of provisions of section 76 of the finance act, 1994 in order-in-review no. ..... 200/- under section 77 of the finance act, 1994 for failure to furnish the st-3 returns in time in the proceedings arising in c. no. ..... 250/ under section 76 of the finance act, 1994 for non-payment of service tax and penalty of rs. ..... 8/2002, dated 29.1.2002/1.2.2002 wherein it was interpreted that the minimum penalty imposable under section 76 of the finance act, 1994 is rs. ..... as noticed by us earlier, the deputy commissioner has proceeded to levy the penalty in exercise of the discretion conferred on him under section 80 of the act and not on an interpretation of section 76 of the act, which mandates the levying of penalty of rs. ..... 100/- per day, a reading of the order annexure 'b' indicates to us that he has exercised the power conferred on him under section 80 of the act having regard to the facts and circumstances of the case. ..... sri sharma is unable to dispute that notwithstanding section 76 of the act, which prescribes for the levy of minimum penalty of rs. ..... 100/- per day, the authority has the discretion under section 80 of the act to waive the penalty.6. ..... 8/2002, dated 29.1.2002/1.2.2002 that minimum penalty imposable under the said section is rs. .....
Tag this Judgment!Court : Karnataka
Reported in : [1998]234ITR535(KAR); [1998]234ITR535(Karn)
..... effect from june 1, 1988, was again amended by the finance act, 1989, with retrospective effect from june 1, 1988, to the effect that where any order referred to in the sub-section and passed by the assessing officer had been the subject-matter of any appeal (filed on or before or after the 1st day of june, 1988), the powers of the commissioner under the sub-section shall extend and shall be deemed always to have extended to such ..... in view of the interpretation put by the supreme court in the case supra, explanation (c) added to section 263(1) as amended by the finance act of 1989, would not make any difference in the present case as it is not clear from the statement of the case as to whether the subject-matter in appeal before the appellate authority was other than what had been considered by the commissioner while exercising his revisional powers under section 263(1). ..... explanation (c) added to section 263(1) was further amended by the finance act of 1989, with retrospective effect which reads as follows ;'explanation. ..... for its opinion :'whether, on the facts and in the circumstances of the case, the tribunal was right in law in cancelling the order of the commissioner passed under section 263 of the income-tax act, on the ground that the commissioner had no jurisdiction to invoke the provision of section 263 when the commissioner (appeals) had already passed an order in an appeal for the assessment year 1983-84 and the order sought to be revised by the commissioner had .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1958Kant102; AIR1958Mys102; (1958)36MysLJ73
..... by a further regulation which was enacted by the governor of bihar, acting under section 92(2) of the government of india act, 1935, it was provid-ed that the indian finance acts of 1938 and 1939 should be deemed to have come into force in that area on 26-3-1938 and 30-3-1939 ..... we turn to the finance act of 1946, sub-section (9) of section 11 makes this provision: 'for the purposes of this section and of the rates of tax imposed thereby, the expression 'total income' means total income as determined for the purposes of income-tax or super-lax, as the case may be, in accordance with the provisions of the indian income-tax act, 1922, and the expression 'earned income' has the meaning assigned to it in clause (6aa) of section 2 of that act. ..... on 26-5-1940, the governor of bihar, acting under section 92(1) of the government of india act, 1935, issued a notification that the indian finance act, 1940 should be deemed to have come into force on 6-4-1940 in the area in which the assessee was ..... by sub-section (1) of section 6 of the indian finance act, 1939, income-tax for the year beginning on 1-4-1939 is directed to be charged at the rates specified in part i of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that 'for the purpose of this section and of schedule ii, the expression 'total income' means total income as determined for the purposes of income-tax or super-tax, as the case may be, in accordance with the provisions of the .....
Tag this Judgment!Court : Karnataka
Reported in : (1993)109CTR(Kar)106; [1993]201ITR1002(KAR); [1993]201ITR1002(Karn); 1993(37)KarLJ140
..... cit : [1985]154itr53(kar) is a decision of this court which was concerned with section 2 (8) (c) of the finance act, 1975. ..... the decision is under section 2 (7) (d) of the finance act, 1966. ..... this decision is based on the definition of industrial company in section 2 (6) (d) of the finance act, 1968. 7. ..... section 32a nowhere defines the term 'industrial undertaking' in the manner the term 'industrial company' was defined in the several finance acts, considered by the kerala and madras high ..... in respect of the assessment year 1981 - 82, the following question has been referred for our consideration under section 256(1) of the income-tax act, 1961 : 'whether on the facts and in the circumstances of the case, the assessee which is doing business of running a hotel is entitled to investment allowance under section 32a in respect of the new machinery installed in the previous year relevant to the assessment year 1981-8 ?' ..... the particular provision of the finance act with which we are concerned here prescribes specific rates of tax and the assessee seeks to be included within the definition of the term 'industrial company', so as to get the benefit of the lesser rate of ..... particularly when pitted against the expression used by the legislature in sub-clause (iii) of clause (b) of sub-section (2) of section 32a, the assessee who claims investment allowances has to be an assessee carrying on the business of manufacturing or producing any article or ..... district judge alleppey [1965] klj 487 ). .....
Tag this Judgment!Court : Karnataka
Reported in : [1986]161ITR589(KAR); [1986]161ITR589(Karn)
..... has to be excluded in computing the total income of an assessee and agricultural income not being income forming part of the 'total income' on which no tax is payable under chapter vii, the provisions of the finance act which provides for aggregating the agricultural income with the net income of the assessee for purposes levying tax is without competence. 10. ..... senior standing counsel for the revenue, argued that the finance act, had only provided for aggregation of 'agricultural income' with the other income of and assessee and it is only the 'total income' as determined under the act was taxed, and not the agricultural income and the provisions providing for aggregation was within the competence of parliament under item 82 in list i of seventh schedule ..... made following submissions for our consideration : (i) the provisions of the finance act, providing for aggregating the agricultural income for rate purposes under the act are beyond the legislative competence of parliament. ..... what is in dispute is whether the impugned provisions in the finance act are with respect to tax on agricultural income under entry 46 ..... section 2 of the finance art which is relevant for our purpose reads thus : '2(1) subject to the ..... section 4 of the act provides that the income-tax charged at the rate or rates fixed on every person on the income of previous year ..... section 10(1) of the act, provides that the agricultural incomes shall not be included in computing the 'total income' of the previous year .....
Tag this Judgment!