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P.K. Badiani Vs. the Commissioner of Income Tax, Bombay

Court : Supreme Court of India

Reported in : AIR1977SC560; [1976]105ITR642(SC); (1976)4SCC562; [1977]1SCR638

..... (vi-a) of section 10(2) of the 1922 act is permitted to be deducted from the 'written down value'. by and large, the cost of replacements is allowed as deductions in feu of depreciation in respect of certain assets. by the amendments made by the income-tax amendment act, 1946, the finance act, 1955 and the finance act, 1956 certain initial ..... not to permit them to exceed the maximum limit provided therein. development rebate was provided in clause (vi-b) with effect from 1st april, 1955 by the finance act of 1955. there was an over-lapping period of about two years in relation to the allowance of initial depreciation or the development rebate. but as provided for ..... of new investment in fixed assets to be charged to current costs of production thereby permitting the taxable profits to be brought down to that extent. in the finance act of 1955 a provision was made to allow a development rebate of 25% of the cost of all new plant and machinery installed for business purposes instead .....

Commissioner of Income Tax, Delhi Vs. Woodward Governor India P. Ltd.

Court : Supreme Court of India

Reported in : (2009)223CTR(SC)1; [2009]312ITR254(SC); JT2009(5)SC378; 2009(5)SCALE198; (2009)13SCC1; [2009]179TAXMAN326(SC); 2009(3)LC1519(SC)

..... of accrual shifts to the point of payment.27. learned counsel next contended that on a proper and true interpretation of the amendment to section 43a, introduced by finance act, 2002, section 43a is clarificatory. according to the learned counsel, the occasion for the clarificatory amendment arose in view of the judgments of the various ..... condition precedent for making adjustment in the carrying amount of the fixed asset. this indicates a complete structural change brought about in section 43a vide finance act, 2002. therefore, the amended section is amendatory and not clarificatory in nature.conclusion:35. for reasons given hereinabove, we find no infirmity in the impugned judgments of ..... of the assets for purposes of grant of depreciation for any increase/decrease of liability subsequently arising due to exchange fluctuation. consequently, section 43a was introduced in the act by finance act, 1967 w.e.f. 1.4.1967 in the above terms to provide for adjustment in the actual cost of assets .....

Commissioner Of Service Tax Mumbai Ii Vs. M/s. 3i Infotech Ltd.

Court : Supreme Court of India

..... on the basis of four show cause notices. the notices c.a.no.4007 of 2019 etc. page 1 of 15 were issued under section 73 of the finance act, 1994 (for short the finance act ) for the demand of service tax. the brief particulars of show cause notices are as under: show cause period demand under notice ..... hardware as well as software under the annual maintenance contract was covered by the category of management, maintenance or repair services which was defined under section 65(64) of the finance act. thus, the classification mentioned in the first show cause notice was completely erroneous. therefore, cestat was right in holding that the first show cause ..... may 2008 onwards, in relation to the software, the classification of service rendered should be under the category of information technology software defined under section 65 (53a) of the finance act. thirdly, it was held that the value of the computer hardware items consumed for providing the services is required to be included in the .....

Safety Retreading Co. Pvt.Ltd. Vs. Comm. of Customs and Cent.Excise,sa ...

Court : Supreme Court of India

..... rate, on the value of taxable services referred to in, inter alia, sub-clause (zzg) of clause 105 of section 65 of the finance act, 1994.5. section 67 of the aforesaid act deals with valuation of taxable services and specifically mentions that the same does not include the cost of parts or other material ..... value of the materials/goods that have been used and sold in the execution of the contract.2. the definition of 'taxable service' contained in section 65(105)(zzg) of the finance act, 1994, as amended by finance act, 2003 may be noticed at this stage. 65. definitions in this chapter, unless the context otherwise requires.-- * * * (105) 'taxable ..... provided- * * * (zzg) to a customer, by any person in relation to maintenance or repair; 3. the expression maintenance or repair is defined by section 65(64) of the finance act, 1994 is in the following terms: 65. definitions in this chapter, unless the context otherwise requires.-- (1).... .... (64) management, maintenance or repair means any .....

M/S. Srd Nutrients pvt.ltd. Vs. Commissioner of cent.excise, Guwahati

Court : Supreme Court of India

..... with the policy intention of the government to exempt education cess in addition to service tax, where 'whole of service tax' stands exempted. according to section 95(1) of finance (no.2) act, 2004 and section 140(1) of finance act, 2007, education cess and secondary and higher education cess are leviable and collected as service tax, and when whole of service tax is exempt, the ..... the 7 air1977sc2279: (1977) 40 stc497civil appeal nos. 2781-2790 of 2010 & ors. page 16 of 30 fact that excise duty is payable under the excise act, education cess and higher education cess are payable under the finance act, by virtue of section 11 thereof. therefore, the mandate and source of charging education cess is altogether different. the exemption notification which is issued under .....

Assistant Commissioner of Income Tax Vs. Rajesh Jhaveri Stock Brokers ...

Court : Supreme Court of India

Reported in : AIR2007SC2163; (2007)210CTR(SC)30; [2007]291ITR500(SC); JT2007(8)SC494; 2007(8)SCALE396; 2007(2)LC0725(SC)

..... notwithstanding that no tax or refund was due from him after making such adjustments. with effect from april 1, 1998, the second proviso to section 143(1)(a) was substituted by the finance act, 1997, which was operative till june 1, 1999. the requirement was that an intimation was to be sent to the assessee whether or not ..... the return and making the permissible adjustments only. as a result of insertion of the explanation to section 143 by the finance (no. 2) act of 1991 with effect from october 1, 1991, and subsequently with effect from june 1, 1994, by the finance act, 1994, and ultimately omitted with effect from june 1, 1999, by the explanation as introduced ..... by the finance (no. 2) act of 1991 an intimation sent to the assessee under section 143(1)(a) was deemed to be an order for the purposes of section 246 between june 1, 1994, to may .....

Laghu Udyog Bharati and anr. Vs. Union of India and Others

Court : Supreme Court of India

Reported in : AIR1999SC2596; 1999(65)ECC687; 1999LC53(SC); 1999(112)ELT365(SC); JT1999(5)SC352; 1999(4)SCALE440; (1999)6SCC418; [1999]3SCR1199; [1999]115STC616(SC); 2006[2]STR276

..... at this juncture it is pertinent to notice that by an amendment notification no. 20/98-central excise (n.t.) dated 2nd june, 1998 issued under section 93 of the finance act taxable services provided by goods transport operators, outdoor caterers, pandal and shamiana contractors were exempted from the levy of the said tax. this exemption was, however, ..... and (xvii) of the service tax rules, as amended in 1997, on the ground that the said sub rules are contrary to the provisions of sections 65 and 66 of the finance act, 1994, whereby service tax was sought to be levied by the parliament.2. a brief legislative history is that service tax was, for the first ..... rules which had originally been framed in 1994 were also amended.3. by chapter v of the finance act, as amended by the finance act, 1997 service tax is imposed in relation to the taxable services which are provided. section 65 is the definition section. some of the sub-clauses which are relevant for our purpose read as under:65 (5). .....

The Commissioner of Income Tax, Bombay City I, Bombay Vs. Narsee Nagse ...

Court : Supreme Court of India

Reported in : AIR1960SC1232; [1960]40ITR307(SC); [1960]3SCR988

..... that date, be equal to such percentage of the taxable profits as may be fixed by the annual finance act. provided........' (omitted). section 5 deals with the application of the act. that section, omitting again the provisos that do not affect the present matter, provides : 'this act shall apply to every business of which any part of the profits made during the chargeable accounting period is ..... day of september, 1939, and ending on the thirty-first day of march, 1941. by succeeding finance acts, the year 1941 was changed to 1942, 1943, 1944, 1945 and 1946. thereafter came the act. sections 13 and 15 of the excess profits tax act correspond respectively to sections 11 and 14 of the act with the difference that the limitation in s. 15 was five years. by .....

M. Natarajan Vs. State by Inspector of Police, Spe, Cbi, Acb Chennai

Court : Supreme Court of India

Reported in : (2008)217CTR(SC)1; 2008(120)ECC141; 2008(156)LC141(SC); 2008(226)ELT679(SC); JT2008(6)SC451; 2008(8)SCALE290; (2008)8SCC413; (2008)3SCC(Cri)507.

..... rule 3(1)(b) of the rules had filed a declaration in form 1-b under section 88 of the finance act and the customs department had issued a certificate of intimation under section 90(1) of the finance act and determined the tax under section 88(f) of the act as being rs. 2,84,325/- which was remitted by the third accused on 18.3 ..... . the court also accepted that the immunity could not be granted to any other person automatically merely it was granted to a tax-payer who had made declaration under section 88 of the finance act.26. one other judgment in master cables (p) ltd. v. state of kerala and anr. (supra) is to be seen at this stage. the concerned ..... the dismissal of the appeals.16. it will be, therefore, our task first to examine the provisions of kvs scheme and more particularly, section 90, 91 and 95. sections 88 to 98 which are included in chapter iv of the finance act (no. 2) of 1998 cover the entire kar vivad samadhan scheme. the basic object of the scheme, undoubtedly, is to recover .....

Union of India (Uoi) and ors. Vs. MartIn Lottery Agencies Ltd.

Court : Supreme Court of India

Reported in : (2009)223CTR(SC)321; JT2009(11)SC151; 2009(7)SCALE341(1); (2009)12SCC209; [2009]17STJ237(SC); 2009[14]STR593; [2009]20STT203; 2009(6)LC2739(SC); (2009)24VST1(SC); 2009AIRSCW5301

..... virtual soft systems ltd. v. commissioner of income tax, delhi-i : [2007]289itr83(sc) , holding:it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. the statute nowhere stated that the said amendment was either ..... clear up doubts as to the meaning of previous act. we are herein not concerned with such a situation.in w.p.i.l. ltd ..... existing law when the constitution came into force, the amending act also will be part of the existing law. it furthermore noticed the decision of the constitution bench in keshavlal jethalal shah v. mohanlal bhagwandas and anr. : [1968]3scr623 , wherein it was opined that an explanatory act is generally made to supply an obvious omission or to .....