Judgment Search Results Home > Cases Phrase: finance act 1968 section 28 amendment of section 280zb Court: mumbai Page 4 of about 1,446 results (0.141 seconds)

West Coast Paper Mills Ltd. Vs. Commissioner of Income-tax Bombay

Court : Mumbai

Reported in : [1968]67ITR640(Bom)

..... deduction of tax in respect of the preference shares carrying a right to a dividends at a fixed rate free of tax. by sub-section (2) of section 19 of the finance act, 1959, the amendments introduced by sections 18 (3d) and 18 (3e) are made applicable from the 1st day of april, 1959. it would, therefore, follow that ..... -60 and consequently in respect of the previous year relevant to the assessment year 1961-62. the dividends, therefore, were not entitled to exemption under section 19 (4) of the finance act, 1959, and the company was under an obligation to deduct taxes on the said dividends and pay it over to the government. according to the ..... were in the nature of interim dividends pertaining to the previous year relevant to the assessment year 1961-62 and, consequently, not entitled to exemption under section 19 (4) of the finance act, which gave that exemption in relation to dividends declared in respect of any previous year, relevant to any assessment year prior to the assessment year .....

R.R. Paints Pvt. Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... goods at the time of clearance of the exempted goods nor have they sought to regularize the same even after the enactment of finance act, 2010 within the time period stipulated therein. section 69 of the finance act, 2010 specifically provided that the person who was availed the credit wrongly, should opt for the facility specified therein and make an ..... the same was not provided for in rule 57cc of the cenvat credit rules at the relevant time. however, in view of the retrospective amendment by section 69 of the finance act, 2010, they became entitled for such a facility. the appellant was pursuing an alternate remedy and did not make any application as provided for under ..... section 69. in that context, the honble high court held that the appellant be permitted to file an application for regularization of the credit taken. .....

Gujarat Carbon and Industries Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2004)(174)ELT78Tri(Mum.)bai

..... d) of sub-rule (1) of rule 1 of the service tax rules, 1994.according to section 117 of the finance act, notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority, sub-clause (xii) and sub-clause (xvii) of clause ..... service availers are not required to pay service tax under the provisions of the finance act, 1994. this order of the deputy commissioner was reviewed by the commissioner under section 84 of the finance act, 1994. the commissioner in the impugned order held that section 117 of the finance act, 2000 validates retrospectively the provisions of sub-clause (xii) of clause ( ..... asking them to explain as to why a penalty should not be imposed upon them under the provisions of sections 76 and 77 of chapter v. of the finance act, 1994 for contravention of the provisions of sections 70, 76 and 81 of the said chapter and interest should not be recovered from them for delayed .....

Balkrishna Binani Vs. Commissioner of Income Tax

Court : Mumbai

Reported in : (1979)9CTR(Bom)62; [1980]121ITR442(Bom)

..... words 'rate of tax'. it was observed further that if these words are understood ... in the sense as propounded by the allahabad high court, they would clearly indicate that the finance act, 1968, was prescribing a distinct rate of tax on an item of total income which was already subjected to the ordinary charge of income-tax u/s 3 and s. 4 ..... was observed that the income-tax paid by the assessee in accordance with s. 68(3) was in lieu of his liability under the charging section of the two income-tax acts read with the relevant finance act and was not a new liability. the view taken by the allahabad high court of the ordinary liability of the assessee to pay income-tax ..... income-tax u/s 68 may be broadly stated to be in lieu of the liability of the assessee to pay income-tax under the charging sections of the income-tax acts read with the relevant finance acts for the appropriate years. but that would not be saying that it is the identical liability which is being provided for by a new rate or .....

Mafatlal Gagalbhai and Co. Pvt. Ltd. Vs. Commissioner of Income-tax, B ...

Court : Mumbai

Reported in : (1979)13CTR(Bom)236; [1980]122ITR382(Bom); [1979]2TAXMAN256(Bom)

..... assessee-company, by indicating the change pertaining to the definition of 'subsidiary company' which has taken place in the companies act, in the first instance and thereafter in the finance act. section 2 is the definition section in the companies act, 1956, and the same provides : 'in this act, unless the context otherwise requires - (47) 'subsibiary company' or 'subsidiary' means a subsidiary company within the meaning of ..... extensively bases at the bar. in the first place, in s. 2(7) of the 1962 finance act are to be found certain definitions for the purposes of that section and for the rates of tax imposed thereby. we then turn to the schedule of the 1962 finance act deals with the taxation of companies other than the life insurance corporation of india. a rate .....

Director of Income Tax (Exemption) Vs. Shardaben Bhagubhai Mafatlal Pu ...

Court : Mumbai

Reported in : (2001)164CTR(Bom)97; [2001]247ITR1(Bom)

..... , can now be disinvested by 31-3-1993, the above amendment by finance act, 1992 came into effect from 1-4-1992. the object of section 13(1)(d) was to forfeit the exemption for contravention if the assessee-trust made impermissible investments. these assets were required to be ..... circulars are not general circulars and that they should be ignored. they are in consonance with the act. in cit v. deoria public charitable trust (supra), the facts were as follows. clause (d) of sub-section (1) of section 13 was substituted by finance act, 1983 with effect from 1-4-1983. the provisions of the new sub-clause were to ..... was brought to the notice of the government. with a view to remove the hardship, the finance act, 1992, amended clause (iia) in the proviso to section 13(1)(d) to provide that an asset, other than an investment or deposit mentioned in section 11(5), is held by the trust or institution which cannot be disinvested by 31-3-1992 .....

India Tyre and Rubber Co. (India) Pvt. Ltd. Vs. Commissioner of Income ...

Court : Mumbai

Reported in : [1994]210ITR409(Bom)

..... on both sides, we have reached the conclusion that during the relevant assessment year, the assessee was an industrial company within the meaning of section 2(8) (c) of the finance act, 1974. we have also no doubt in holding that the tribunal misdirected itself in law while attempting to distinguish the judgment in neo pharma's ..... 11. the appellate assistant commissioner came to the conclusion that the assessee was 'mainly engaged in the manufacture of goods' within the meaning of section 2(8) (c) of the relevant finance act and was thus an industrial company as defined therein. 12. the income-tax appellate tribunal reversed the decision of the appellate assistant commissioner, inter ..... as to whether the assessee is a company which is mainly engaged in the manufacture or processing of goods within the meaning of section 2(8) (c) of the relevant finance act and thus an industrial company. it is well-settled by this time that the assessee-company which gets the goods manufactured under its .....

J.B. Advani and Co. P. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : [1992]193ITR781(Bom)

..... that the assessee's activity of blending of different kinds of tea could not constitute manufacturing activity so as to bring it within the purview of section 2 (5) (a) (ii) of the finance act, 1966. accordingly, the tribunal confirmed the order of the additional commissioner. 5. placing reliance on the calcutta high court decision in the case of ..... activity. he pointed out that, in the calcutta case, the facts were identical. the question considered was whether the assessee was an industrial company under section 2 (7) (c) of the finance act, 1978, and the court held that it was so. in the gujarat case, the assessee was carrying on the business of a printing press. ..... the calcutta high court's decision in g. a. renderian ltd. v. cit : [1984]145itr387(cal) is not applicable in this case inasmuch as section 2 (7) (c) of the finance act, 1978, defined an industrial company, inter alia, as one which is engaged in the processing of goods. it is pertinent to mention that the expression provisions .....

Universal Generics (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1989)31ITD369(Mum.)

..... 780 and 781 the hon'ble supreme court observed as under: the first question is whether section 3 of the indian income-tax act, 1922; or section 2 of the finance (no. 2) act, 1957, is the charging section. the revenue contends that the finance act is the charging section and that, therefore, the liability accrued only on the first day of april, 1957. ..... the assessee, was actually in force. this shows that the charging section is only section 3 of the income-tax act, and that section 2 of the finance act only gives the rate for quantifying the tax for this section gives an alternative for quantification in the contingency of the finance act not having been made on the 1st day of april of that ..... horilram ltd. v. cit [1955] 27 itr 709, the hon'ble supreme court had an occasion to deal with the charging section of the indian income-tax act, 1922 vis-a-vis the relevant finance act. the hon'ble supreme court dealt with this aspect at pages 716 and 717 of the report. the relevant portion of which .....

Prithvi Associates Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2005)(102)ECC531

..... they stopped paying service tax on their own without any intimation to the department.6. definition of "advertisement" and advertising agency as appearing in section 65 (2) and 65 (3) of the finance act, 1994 is to the following effect: - "advertisement" includes any notice, circular, label, wrapper, document, hoarding or any other audio ..... also proposed confirmation of interest in terms of the provisions of section 75 of the said act, and imposition of penalty under section 76 of the finance act, 1994 for not paying the service tax as also imposition of penalty under section 77 of the finance act, 1994 for failure to file the correct st returns. penalty was ..... in the notice. penalty of identical amount was also imposed under section 76 and penalty of rs. 13,000/- imposed under section 77 of the finance act. in addition, personal penalty of identical amount was imposed under the provisions of section 78 of the finance act, 1994 for suppressing or concealing the value of the taxable services. .....