Court : Kerala
Reported in : [1971]81ITR745(Ker)
..... , therefore, the observation of lord morton need not be followed, at any rate, in india. the counsel may be right when he says that the effect of section 6(5) of the finance act was not considered in the sneddon case, still, as we have already indicated, the proposition laid down in that case, as we have interpreted it, may be accepted ..... such cases, the estate left by the deceased would only be the business which was gifted by the donor and would not include the income thereof.in section 34(4) (section 6(5) of the british finance act of 1894), the word used is 'accrued'. 'accrue' means 'to fall (to any one) as a natural growth or increment; to come as an ..... apply to all cases of gift irrespective of the nature of the property, whether cash or otherwise.if that is the legal position, section 34(4) of our estate duty act and section 6(5) of the british finance act of 1894 may lose their purpose. therefore, some line has to be drawn where the sneddon case ceases to apply and the principle .....
Tag this Judgment!Court : Kerala
Reported in : 1978(2)ELT650(Ker)
..... roads and castings not otherwise specified.' the petitioners' case, in short, is that this amendment embodied in clause (aa) having been effected only by the finance act of 1969, it was not liable to pay the duty on properzi rods at all till the commencement of the amendment and that the duty wrongly paid by ..... sheets, circles, strips and extruded rupees pershapes and sections in any form or size. metric tonne.(b) foils, that is a product of thickness six hundred(excluding and backing) not exceeding 0.16 rupees permillimetres metric tonne(c) pipes and tubes ten per centad volorem.-----------------------------------------------------------------------by the finance act of 1969, the above item was amended, and ..... would submit their usuel claim for refund of duty already paid, as soon as it received the orders. by ext. p 1 order dated 17.6.1968 the assistant collector, rejected the application of the petitioner. an appeal was preferred to the collector of central excise; ext. p 2 is the copy of .....
Tag this Judgment!Court : Kerala
Reported in : [1991]189ITR165(Ker)
..... an identical point by a common judgment dated september 17, 1990, this court held that section 43b of the income-tax act, after amendment by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act of 1989 and explanation 2 to the section which took effect from april 1, 1984, should be considered in order to give effect ..... the sales tax collection in the last month of the year payable to the government before the 20th of the next month, is a permissible addition under section 43b of the act. the tribunal answered the question in favour of the assessee and allowed the appeal filed by the assessee, following its earlier decision rendered in i. ..... the last month of the previous year under consideration which was not claimed as a deduction while computing the income under the income-tax act by invoking the provisions of section 43b of the act could not be brought to tax in the assessment years under consideration ?'2. the respondent is an assessee to income-tax. we .....
Tag this Judgment!Court : Kerala
Reported in : [2004]269ITR167(Ker); 2004(2)KLT914
..... 1.4.1992 in relation to the assessment year 1992-93 and subsequent years. this is because schedule ii application was provided only by the amended section 4(1)(a) of the act by finance (no. 2) act, 1991 with effect from 1.4.1992.19. here it must be noted that the assessee's contention before the tribunal was that even after 1 ..... yield method.16. in respect of deemed gifts, it is only with effect from 1.4.1992, i.e., by virtue of the amendment to section 4(1)(a) of the act made by the finance (no. 2) act, 1991, the value of the consideration for the purpose of deemed gift can be determined in the manner laid down in schedule ii to the ..... value of the property on the date of transfer and the value of the consideration, schedule ii has no application. it is by virtue of the amendment to section 4(1)(a) of the act made by finance (no. 2) act, 1991 with effect from 1.4.1992, the value of the property as on the date of the transfer, for the purposes of .....
Tag this Judgment!Court : Kerala
Reported in : (1998)150CTR(Ker)564
..... at the rate mentioned in that act.'as far as plantation tax act is concerned, it is not necessary for the finance act of every year to fix the rate of tax. the rate of tax as provided under schedule i is made part of the charging section, namely, sub-s. (1) of s. 3 of the act. reference was also made by learned ..... judge took the view that the proposed assessment for the period from 1st july, 1987, to 31st march, 1988, on the higher rate prescribed under schedule 1 introduced by finance act, 1987, was invalid, and the reference was answered accordingly. it is those orders which are being challenged by state in each of the above mentioned writ petitions.19. since ..... per notice of demand no . dated requires revision on the basis of the rate of plantation tax fixed under the saidact as amended with effect from the financial year 1968-69 and whereas the details available in this office show that you held plantations to the extent shown below, it is hereby informed that you are assessed to pay .....
Tag this Judgment!Court : Kerala
Reported in : (2006)201CTR(Ker)490; 2006(2)KLT73; 2006[4]STR432
..... india : [2004]267itr9(sc) and was negatived. only contention raised by the petitioner was that it would not fall within the expression 'caterers' under sub-section 24 of section 65 of the finance act, 1994.4. we are not prepared to accept the contention of the counsel that service tax can be demanded only from those persons who are caterers engaged ..... that the writ petitioners are providers of catering service to m/s. air india and are liable to get registered under section 69 of finance act (no. 2), 2004 and also to follow the provisions of the said act and rules with effect from 10-9-2004.2. writ petitioner submitted that it would not fall within the definition of ..... 'caterer' under section 65(24) of the finance act since petitioner is not providing any catering service. according to the petitioner, those who supply food on occasions like marriage etc. alone can be treated as .....
Tag this Judgment!Court : Kerala
Reported in : [1973]87ITR41(Ker)
..... of assessment is 1963-64 and the accounting period is that which ended on march 31, 1963. the export profit rebate is allowable under clause (i) of sub-section (5) of section 2 of the finance act, 1963. that clause runs as follows :' (5) in respect of any assessment for the assessment year commencing on the 1st day of april, 1963- (i) an ..... not arise before us and we, therefore, express no opinion on it.4. we, however, feel that so far as the application of clause (i) of subsection (5) of section 2 of the finance act, 1963, is concerned, there cannot be any doubt that the firm as well as the partners of the firm will be, entitled to the benefit of the ..... benefit being given in relation to the whole income of the firm, there was no scope for again allowing the deduction under the section when the partners were assessed. the deduction contemplated by section 2(5)(i) of the finance act, 1963, is not for the income but a relief given to an assessee from the tax imposable on him.6. the question .....
Tag this Judgment!Court : Kerala
Reported in : (2001)170CTR(Ker)298; [2001]252ITR503(Ker)
..... an appeal. the learned commissioner of income-tax (appeals) dismissed the appeal in view of the retrospective amendment with effect from april 1,1989, of section 143(1a) by the finance act, 1993. against that order, the assessee preferred an appeal before the tribunal. according to the tribunal, there was no scope for levy of additional ..... cash compensatory support became taxable retrospectively with effect from april 1, 1967, but that was by an 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 ..... company, filed its return for the assessment year 1989-90 on december 29, 1989. clause (iiib) in section 28 of the income-tax act, 1961, was inserted by the finance bill of 1990, which ultimately became the finance act and received the assent of the president of india on may 31, 1990. clause (iiib) was given retrospective .....
Tag this Judgment!Court : Kerala
Reported in : [2000]242ITR728(Ker)
..... year 1977-78 and subsequent years.5. the assets, etc., brought into india, by persons of indian origin or by citizens of india--section 5(l)(xxxiii). section 5(l)(xxxiii), newly inserted by the finance act, 1976, with effect from april 1, 1977, grants exemption, for and from the assessment year 1977-78, to an assessee, being a ..... the value of assets acquired by him out of such moneys within one year immediately preceding the date of his return. explanation 2 to section 5(l){xxxiii) {which has been inserted by the finance act, 1986, with retrospective effect from april 1, 1977) clarifies that moneys standing to the credit of an eligible assessee in a non- ..... addition of the expression 'within one year immediately preceding the date of his return and at any time thereafter' and explanation 2 which were simultaneously inserted - by the finance act, 1986 (act 23 of 1986 (see [1986] 159 itr 17), with effect from april 1, 1987, and april 1, 1977, respectively, the position appears to be in line .....
Tag this Judgment!Court : Kerala
Reported in : I(2004)BC378; 2003(2)KLT347; [2003]45SCL555(Ker); [2004]134STC377(Ker)
..... and the contentions raised therein. thus, it can be seen that the challenge made to the amended provisions of the definition of 'dealer' in section 2(viii) of the act by the finance act, 1998 was repelled by this court.15. the only question that remains to be considered is as to whether any distinction can be drawn in ..... court also in lord krishna bank's case considered the question in the context of the unamended definition of 'dealer' in the act. now the definition of 'dealer' in section 2(viii) has been amended by finance act, 1998 under which a bank or a financial institution which, whether in the course of its business or not, sells any gold ..... to the main activity and, therefore, the said transactions are not liable to be assessed under the act. the senior counsel further submitted that though the definition of dealer in section 2(viii) of the act is amended by the finance act, 1998 by introducing a new sub-clause(g) bringing the banks and financial institutions which effects sale .....
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