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Commissioner of Income Tax Vs. Hindustan Elector Graphites Ltd.

Court : Supreme Court of India

Reported in : [2000]109TAXMAN342(SC); [2000]243ITR48SC

..... way of cash compensatory support became taxable retrospectively with effect from april 1, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. levy of additional tax bears all the characteristics of penalty. additional tax was levied as the assessee ..... response to a notice under section 148 involving an element of concealment, the law applicable would be the law ..... additions and after completing the reassessments on march 6, 1969, initiated proceedings under section 271(l)(c) and the inspecting assistant commissioner imposed penalty on the assessee on the basis of the amended section 271(l)(c) with effect from april 1, 1968. this court said that even in a case where a return is filed in .....

Commissioner of Income-tax, Madras Vs. G.R. Karthikeyan

Court : Supreme Court of India

Reported in : AIR1993SC1671; (1993)112CTR(SC)302; [1993]201ITR866(SC); JT1993(3)SC174; (1993)2MLJ82(SC); 1993(2)SCALE588; 1993Supp(3)SCC222; [1993]3SCR328

..... (24), also shows that the idea behind the sub-clause was to rope in windfalls from lotteries, races and card games etc.(c) section 74(a) which too was introduced by the finance act, 1972 supports the said view. section 74(a) provides that any loss resulting from any of the sources mentioned therein can be set off against the income received from that ..... view taken by the high court is questioned herein.5. the definition of 'income' in section 2(24) is an inclusive definition. the parliament has been adding to the definition by adding sub-clause(s) from time to time. sub-clause (ix) which was inserted by the finance act, 1972 reads as follows:(ix) any winnings from lotteries, crossword puzzles, races including horse .....

Mahabir Industries Vs. Principal Commissioner of Income Tax

Court : Supreme Court of India

..... 4765-4766 of 2018 & anr. page 2 of 15 2. section 80-ia of the act was originally introduced in the year 1991 by the finance (no.2) act, 1991 w.e.f. april 1, 1991. there were amendments in the section from time to time. this section was amended by the finance act, 1999 w.e.f. april 1, 2000. along with this ..... -ia. from the assessment year 2000-01 to assessment year 2005-06, the assessee claimed deduction under section 80-ib.4. interestingly, another provision in the form of section 80-ic was inserted by finance act, 2003 w.e.f. april 1, 2004. as per this provision, certain undertakings or enterprises in certain special category states are allowed deduction from ..... provision, section 80-ib was also introduced for the first time by the same finance act, 1999. this provision allows .....

Agricultural Produce Market Committee, Narela, Delhi Vs. Commissioner ...

Court : Supreme Court of India

Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540

..... explanatory note indicates that amc (s) is covered by the explanation and, therefore, amc(s) is entitled to the continuance of the benefit of exemption even after finance act, 2002. further, in the explanation to section 10(20) there are three items - item (i) refers to 'panchayat', item (ii) refers to 'municipalities' whereas item (iii) refers to 'municipal committees ..... is : whether agricultural marketing committee [amc (s)] is a 'local authority', so as to be entitled to the benefit under section 10 of the 1961 act after insertion of the explanation in section 10(20) vide finance act, 2002 w.e.f. 1.4.2003.25. before analyzing the above question, we quote herein below a comparative chart containing the ..... entitled to the control of the local fund.33. we hold that amc(s) is, therefore, not entitled to exemption under section 10(20) of the 1961 act after insertion of the said explanation vide finance act, 2002 w.e.f. 1.4.03.34. for the a forestated reasons, we find no merit in this batch of .....

Commissioner of Income-tax Bombay City I, Bombay Vs. Afco (P) Ltd., Bo ...

Court : Supreme Court of India

Reported in : [1963]Supp(1)SCR766

..... income-tax officer with power, in certain contingencies prescribed in the section to order that the undistributed balance of the assessable income reduced by the amount of taxes and the dividends shall be deemed to have been distributed at the date of the general meeting. by the finance act 15 of 1955 s. 23a(1) was amended and the ..... income-tax officer was directed to make an order that the company shall be liable to pay super-tax on the undistributed balance at the rates prescribed under the section. but by virtue of sub. s. (9) of ..... a provision led to delay in the disposal of assessment proceedings and caused administrative inconvenience. it appears that the legislature modified the scheme of granting rebate in enacting the finance act of 1955 with a view to simplify the procedure and avoid delays, and not with the object of depriving the private limited companies as a class, of the .....

P.C. Paulose, M/S. Sparkway Enterprises. Vs. Commissioner of Central E ...

Court : Supreme Court of India

..... only provided bare space and all expenses for providing services to passengers / visitors are to be borne by the appellant.2. as per clause 105 (zzm) of section 65 of finance act, 1994 `taxable service' means any service provided to any person, by airport authority or any person authorized by it, in an airport or a civil enclave. ..... giving a hearing to the appellant confirmed the demand of service tax of rs. 1,64,106/- and education cess of rs. 3,282/- with interest under section 75 of the finance act, 1994.6. being aggrieved by the said order, appellant filed an appeal before the commissioner of central excise & customs (appeals), cochin. the commissioner (appeals), however ..... 2,66,797/- per month to aai but it collects the required fees from the users of the facility and provide all facilities to such customers. section 65 clause 105(zzm) of finance act, 1994 defines `taxable service' to mean any person, by airports authority or any person authorised by it, in an airport or a civil enclave. .....

Rashtriya Ispat Nigam Ltd. Vs. Dewan Chand Ram Saran.

Court : Supreme Court of India

..... contractor with required tax deduction certificate." evolution of service tax:5. service tax was introduced for the first time under chapter v of the finance act, 1994. section 66 of the act was the charging section and it provided for the levy of service tax at the rate of five per cent of the value of the taxable services. "taxable ..... our attention to paragraph 21 of gujarat ambuja cement ltd. (supra) wherein this court observed as follows:"21. as is apparent from section 116 of the finance act, 2000, all the material portions of the two sections which were found to be incompatible with the service tax rules were themselves amended so that now in the body of the ..... 16th day of july, 1997 and ending with the 16th day of october, 1998, the provisions of chapter v of the finance act, 1994 shall be deemed to have had effect subject to the following modifications, namely- (a) in section 65,- (i) for clause (6), the following clause had been substituted, namely- '(6) "assessee" means a person .....

Commissioner of Income-tax, Bangalore Vs. Venkateswara Hatcheries (P) ...

Court : Supreme Court of India

Reported in : AIR1999SC1225; [1999]237ITR174(SC); JT1999(2)SC338; 1999(2)SCALE257; (1999)3SCC632; [1999]2SCR177

..... need not rely upon the dictionary meaning of that word.10. viewed in this light what we find is that section 10(27) of the act was inserted in the act through the finance act, 1964. the purpose of enacting section 10(27) was to provide incentive to poultry farming, which includes the business of hatchery, by way of giving ..... one-third of the aggregate amount of such profits and gains or ten thousand rupees, whichever is higher.13. the finance act 1976 inserted section 32a with effect from 1st april, 1976 in replacement of development rebate. section 32a provided investment allowance where an industrial undertaking has installed new machinery or plant after march 31, 1976 for the ..... exemption to rs. 10,000 in a year.12. consequently, section 10(27) of the act was omitted by the finance act 1975 with effect from 1st april, 1976 and section 80j was brought into the act with effect from the date of omission of section 10(27) of the act. section 80jj as re-enacted read as thus :80jj. where the .....

Chhotabhai Jethabhai Patel and Co. Vs. the Union of India and anr.

Court : Supreme Court of India

Reported in : AIR1962SC1006; [1962]Supp2SCR1

..... the arguments urged in support of the appeal. 6. mr. pathak, learned counsel who appeared for the appellants urged three point in support of the appeals(1) section 7(2) of the finance act, 1951 in so far as it imposed an excise duty retrospectively before the date of its enactment (april 28, 1951) was beyond the legislative competence of parliament. ..... forth in the first schedule.' by s. 7(2) of the act retrospective effect was given to the duties imposed by the finance act taking effect as and from the first day of march, 1951. s. 7(2) 'the amendment made in the central excises and salt act, 1944, by sub-section (1) shall be deemed to have had effect on and from ..... clearance certificates in regard to the tobacco moved out from their warehouses from and after march 1, 1951. bill 13 of 1951 was passed into law as the indian finance act 1951 (act xxiii of 1951 on april 28, 1951 but as passed, changes were effected in the duty proposed in the bill, as a result of certain alterations suggested by .....

Brij Lal and ors. Vs. Commissioner of Income Tax, Jalandhar.

Court : Supreme Court of India

Reported in : (2011)1SCC1

..... the applicant had furnished his return of income and that the additional tax payable on such income exceeds the specified amount. this was the position prior to finance act of 2007. however, section 245c(1a) inter alia provides that additional amount of income tax payable in respect of the income disclosed shall be calculated in accordance with the provisions ..... amount of tax with interest without which the application for settlement would not be maintainable. thus, interest under section 234b would be payable up to the stage of section 245d(1). our view is supported by the amendment made by finance act of 2007 w.e.f. 1.6.2007 in which interest is required to be paid for maintainability ..... in force. 5. at this stage, it may be noted that section 245c stood substituted by finance act, 2007, w.e.f. 1.6.2007. prior to its substitution, the proviso to section 245c(1), as substituted by the finance act, 1987, w.e.f. 1.6.1987 and later on amended by finance act, 1995, w.e.f. 1.7.1995, read as under .....