Court : Punjab and Haryana
Reported in : 2009[15]STR678; [2009]20STT495
..... . this order shall dispose of sta nos. 4 and 5 of 2009, which have been filed by the revenue under section 35g of central excise act, 1944 (for brevity, 'the act') read with section 83 of the finance act, 1994 (for brevity, 'the finance act'), challenging the common order dated 7-9-2007 and orders dated 3-4-2007 (in sta no. 4 of 2009 ..... -4).3. the only argument raised by the counsel for the appellant, which was also the submission before the tribunal in rectification application, is that under section 84(5) of the finance act, the revisional authority, has passed the order within the period of two years from the date of the order passed by the adjudicating authority. according to ..... has passed the order-in-original on 30-11-2004 whereas the revisiorial authority has revised that order on 28-11-2006 by exercising jurisdiction under section 84(5) of the finance act. the order of the revisional authority is within the period of two years as it was passed on 28-11-2006. once the initial order .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 2010[17]STR8
..... tribunal with regard to the reasons having been shown by the dealer-respondent and the bona fide of the dealer-respondent has been accepted in terms of section 80 of the finance act as well. therefore, we are not inclined to admit the appeal as no substantive question of law would arise for determination, which is sine qua non ..... tax only with effect from 10-9-2004. accordingly, it has been held that it was not a fit case for imposition of penalty under section 76 or 78 of the finance act.3. having heard learned counsel for the parties and perusing the record with their able assistance, we find that there are pure findings of fact ..... -respondent to evade tax, which is necessary for invoking the provisions of section 76 and 78 of the finance act. the tribunal has also extended the benefit of section 80 of the finance act, which says that notwithstanding anything contained in the provisions of section 76 or 78 of the finance act, no penalty is to be imposed on the dealer-respondent for any .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1970]77ITR849(P& H)
..... east punjab states union accepted the federal financial integration scheme and became a taxable territory of the union of india with the result that the indian finance act, 1950, and subsequent finance acts became applicable to it for the purposes of levy of income-tax for each assessement year. before the revenue authorities, it was claimed by the ..... to pay tax only at the concessional rates provided in clause 23 of the above-said agreement and not at the rates laid down in the relevant finance act. this contention was rejected and when the matter came up for consideration before the tribunal, it observed that theidentical contention raised by the assessee for the ..... business of the company ; and (2) the expense was not of a capital nature. 7. the first requirement of clause (xv) of sub-section (2) of section 10 of the indian income-tax act, 1922, under which the allowance was claimed, has not been satisfied and, therefore, the amount claimed had been rightly disallowed. in view of this .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2010]24STT413
..... and also set aside the penalty. the order of the commissioner (appeals) has been upheld by the tribunal on the basic premise that section 66a of the finance act, 2006 (for brevity, 'finance act'), was enforced with effect from 18-4-2006, which covered the services rendered outside india for the purposes of imposition of service tax and ..... those services prior to enforcement of section 66a of the finance act were not subjected to service tax. the tribunal followed its own view rendered in the case of foster wheeler energy ltd. v. cce & c : ..... tribunal and, thus, the same be adjudicated by this court:(i) whether the service tax was leviable on the recipient of service irrespective of section 66a of the finance act?(ii) whether non-supply of information to the department regarding overseas commission with the intention to evade service tax does not amount to suppression of .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2000)160CTR(P& H)199; [2000]241ITR567(P& H); (2000)124PLR474
..... scheme in respect of the voluntarily disclosed income was to be paid by the declarant and the declaration was to be accompanied by proof of payment of such tax. sec. 67 of the finance act which is relevant for our purpose is reproduced hereunder for facility of reference : '67. interest payable by declarant. - (1) notwithstanding anything contained in s. 66, the declarant may ..... disclosed income. 7. we have heard counsel for the parties and are of the view that the cit was right in rejecting the declaration filed by the petitioner. sec. 67(2) of the finance act, clearly stipulates that if the declarant fails to pay tax in respect of the voluntarily disclosed income before the expiry of three months from the date of filing .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1998)145CTR(P& H)246; [1998]231ITR663(P& H)
..... by the sale of the land, that is, by conversion of the land into cash. the resultant income is not agricultural income. the explanation inserted in section 2(1a) by the finance act, 1989, with effect from april 1, 1970, makes the position clear when it declares that revenue derived from land shall not include and shall be deemed never ..... business or profession. it, however, does not include agricultural land in india except the classes of land included in items (a) and (b) of section 2(14)(iii) of the act. by the finance act, 1970, with effect from the assessment year 1970-71, certain specified lands situate in urban areas or semi-urban areas were brought within the definition of ..... class of lands included in items (a) and (b) of section 2(14)(iii). in order to qualify for such exemption, it is not enough that the land was once agricultural land. it must be agricultural land even at the time of sale or transfer. by the finance act, 1970, with effect from the assessment year 1970-71, certain .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1991)99PLR225
..... restospective effect.4. mr. a k. mittal, learned counsel for the respondent, on the other hand stated that the explanation inserted by finance act of 1987 to sub section (i) of section 194a simply explains the existing provisions of law and had not created any new offence and that under the merchantie accounting system the accused- ..... had committed any offence. he also relied upon explanatory notes on the provisions relating to direct taxes while introducing the finance act 1987 figuring at page 87 (1987) 168 i. t. r. in the section of statutes. mr. sibal also relied upon the decisions of toe apex court in the commissioner of income tax, madras ..... and the proceedings resulting therefrom inter alia, on the ground that before the amendment of section 194a vide finance act, 1987, which came into force on 1-6-1987, there was no provision like the present explanation to sub section (!) of this section making the crediting of any interest to any account whether called 'interest payable account' or .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1982]135ITR652(P& H)
..... and that assessed by the department on the other.38. it would inevitably follow from the above that because of the designed amendments which were wrought in section 271(1)(c) by the finance act of 1964 and the insertion of the explanation thereto, the reasoning of anwar ali's case : [1970]76itr696(sc) (which had construed the earlier and ..... it would appear that barring some marginal discordant notes there appears to be a near unanimity of authority for the view that the added explanation to section 271(1)(c) introduced by the finance act of 1964 was intended to make a clear change in the earlier law and had spelled out a categoric rule of evidence raising three rebuttable presumptions ..... to be manifest from the following note on clause 40 of the amending bill, which later came to be enacted as the finance act (no. 5 of 1964):'clause 40 seeks to amend section 271 of the income-tax act to provide that where the income returned by an assessee is less than 80 per cent. of the assessed income, the .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (2006)206CTR(P& H)194; [2007]290ITR15(P& H)
..... not within the period of limitation. against the order passed by the cit(a), the revenue went in appeal before the tribunal, which is pending.3. vide finance act, 2006, section 148 has been amended w.e.f. lst oct., 1991. the said provision before and after the amendment is as under:before amendment148. issue of notice where ..... his submissions:(1) k.t. moopil nair v. state of kerala : [1961]3scr77 ;(2) s.k. dutta, ito v. lawrence singh ingty : [1968]68itr272(sc) ;(3) anandji haridas and co. (p) ltd. v. s.p. kasture : [1968]1scr661 ;(4) state of kerala v. haji k. haji k. kutty naha and ors. etc. : [1969]1scr645 ;(5) ayurveda pharmacy and anr. ..... effect of the substitution, in keeping with general principles relating to amendments, would be that section 80p(2)(a)(iii) must be read as if the substituted phrase were included from the date that the section was introduced in the statute viz. 1st april, 1968.in making this change, the legislature does not 'statutorily overrule' this court's decision .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [2007]294ITR563(P& H)
..... according to the statement of the union finance minister, the market committees would have to establish eligibility under section 11 of the income tax act. it would extend the parameters of statutory interpretation, to unreasonable limits, if such like opinions, are taken into ..... our view, therefore, the response of the union finance minister was subject to the condition that the market committees fulfilled the conditions laid down in section 11 of the income tax act. in other words, for the grant of exemption from the payment of income-tax, even ..... tribunal, delhi bench, we are of the view, that the response of the union finance minister, referred to in the appellate order, was to the effect, that charitable institutions, which fulfil the conditions prescribed under section 11 of the income tax act, would be entitled to exemption from the liability of payment of income-tax. in .....
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