Judgment Search Results Home > Cases Phrase: finance act 1968 section 9 amendment of section 80k Page 95 of about 31,925 results (0.624 seconds)

Commissioner of Income-tax, Gujarat Vs. Girdhardas and Company Private ...

Court : Supreme Court of India

Reported in : AIR1967SC795; [1967]63ITR300(SC); [1967]1SCR777

..... could not be included in the expression 'dividend' : see sheth haridas achratlal v. commissioner of income-tax, bombay north, kutch and saurashtra, baroda : [1955]27itr684(bom) . by the finance act, 1955, the proviso to clause(c) was deleted and in consequence thereof the limitation relating to the period during which the profits were accumulated ceased to apply in the determination ..... comes out of that source or not is not a question dependent on s. 2(6a)(c) - s. 2(6a)(c) declares that though under law, apart from the section, it would be capital and, therefore, not chargeable, it shall be regarded as dividend and taxed as such in the hands of the shareholders.' 10. bakshi, j., substantially ..... if it is capable of being considered as dividend must be so held to be so.' shelat c.j. opined that s. 2(6a)(c) is not a charging section which levies tax on a particular fund from out of which a limited fund is carved out by the proviso. the learned chief justice observed : 'the legislative intent is .....

P. Venkatarama Reddy Vs. the Controller of Estate Duty

Court : Supreme Court of India

Reported in : AIR1998SC2463; JT1998(5)SC1; 1998(4)SCALE200; (1998)6SCC153; [1998]3SCR806

..... duty. what is meant by the phrase 'in which deceased never had an interest'? the language of section 34(3) is similar to the language of section 4 of the english finance act of 1894 as amended by the finance act of 1900. section 4 of the finance act, 1894 is as follows:'for determining the rate of estate duty to be paid on any property passing ..... . he also made certain other settlements under none of which there was any chance of anything accruing to the settlor. the court, in examining the application of section 4 of the finance act of 1894 to decide whether the amount under the settlement could be aggregated with the other estate of the deceased-settlor, formulated a test to decide when it ..... his son. to the extent of the income from the free hold, premiums thereafter were paid by the son from such income. the premiums so paid were, by the finance act, 1939, section 30, attributed to the settlor. the settlor died and his son received under the policy 48,765. the court, for the purposes of .....

Commissioner of Customs, Central Excise and Service Tax Vs. Federal Ba ...

Court : Kerala

Reported in : [2010]24STT416

..... not business auxiliary service attracting liability for service tax falling under section 65(79) of the finance act 1994? the finance act, 1994 was amended section 90 of the finance (no. 2) act, 2004 introducing clauses (12) and (19) in section 65 of the finance act, 1994. while clause (12) of section 65 defines banking and other financial services which specifically excludes service ..... specifically excluded from the definition clauses covering banking and other financial services under clause (12) of section 65. it is further pointed out that the exclusion of cash management service from clause (12) was deleted with effect from 1-6-2007 and ..... by respondent by way of collection of bills for telephone companies and other parties is a business auxiliary service attracting tax under clause (19) of section 65. on the other hand the contention of the respondent is that collection of bills is nothing but a cash management service and the same is .....

Commissioner of Income-tax, Tamil Nadu-iii Vs. Salem Co-operative Cent ...

Court : Chennai

Reported in : (1981)17CTR(Mad)306; [1981]132ITR612(Mad)

..... pt. i of the first schedule to that act. in that cases to which paras. a, b, c and e of that part applied ..... to be assessed, the assessee would be liable to surcharge under the relevant finance act is open to the commissioner on the facts here.in order to appreciate the point, it is necessary for us to refer to the relevant provisions of the finance act. section 2 of the finance act, 1963, provides for the charge of income-tax at the rages specified in ..... to pass its order on october 30, 1975. however, the relevance of the interpretation placed by the supreme court with reference to the identical provision of the finance act cannot now be open to question. as the matter before the tribunal arose only with reference to the assessees liability to the additional surcharge and as this matter .....

Commissioner of Income-tax Vs. Tamil Nadu Industrial Investment Corpn. ...

Court : Chennai

Reported in : [1999]107TAXMAN16(Mad)

..... income.8. the legislative history makes the provision clear; when clause (viii) of section 36(1) was introduced, a deduction was granted loran amount not exceeding 10 per cent of the total income carried to such special reserve. when it was amended by the finance act, 1966, the limit was raised to 25 per cent in the case of financial ..... under this clause, be deemed to have been transferred to the reserve account in the accounts of the first mentioned previous year.'but this explanation was omitted by the finance act, 1974, with effect from 1-4-1975. the omission was made with a view to facilitate the building up of internal resources or, financial corporation of joint financial ..... the current profits to the special reserve account at 55 per cent of the taxable income. it is with that object in view the explanation was omitted by the finance act, 1975 with effect from 14-1975, and if we accept the contention urged on behalf of the assessee that it is open to the assessee to reply upon .....

Commissioner of Wealth-tax Vs. Champa Properties Ltd.

Court : Kolkata

Reported in : [1994]206ITR567(Cal)

..... it be said that undischarged liabilities towards municipal taxes can be treated as a debt secured on one or more assets taxable under clause (viii) of sub-section (3) of section 40 of the finance act, 1983. none of the clauses (i) to (vii) is applicable to the facts of this case. the assessee has not, by reason of not ..... . but the undischarged liabilities towards municipal taxes could not be treated as a debt secured on one or more assets taxable under clause (viii) of sub-section (3) of section 40 of the finance act, 1983. it accordingly held that the assets mentioned by the assessing officer like advances to parties, shares or deposits in banks, etc., were clearly not ..... the tribunal was right in law in holding that rs. 5,13,566 and rs. 5,88,138 could not be assessed to the wealth-tax under sub-section (3) of section 40 of the finance act, 1983, in the assessment years 1984-85 and 1985-86, respectively ?' 3. the facts leading to this reference are that the assessee, messrs. champa .....

In Re: Assessment of Behari Lal Mullick

Court : Kolkata

Reported in : AIR1927Cal553,103Ind.Cas.609

..... to income-tax and super-tax. strictly speaking, it does not of itself impose the tax at all. this is to be done by the finance act of the year. section 7 of the finance act (12 of 1922) provides:income-tax for the year beginning on the first day of april 1922 shall be charged at the rates specified in part ..... words, it provides a graduated scale according to the amount of the 'total income.' provision having been made by the finance act in this manner, section 3 of the income-tax act is attracted. section 3 is as follows:where any act of the indian legislature enacts that income-tax shall be charged for any year at any rate or rates applicable to ..... of its imposition? the tax is to be deducted apparently at the rate laid down by the current finance act. in respect of the income of this year the finance act of next year may impose quite different rates or (theoretically) no income-tax at all. section 18 uses the wordsin respect of income chargeable under the following heads : (i) salaries and; .....

Kashiram Agarwalla Vs. Collector of 24-parganas and Others.

Court : Kolkata

Reported in : [1958]33ITR800(Cal)

..... , no valid assessment for the year at all. this argument appears to me to be entirely misconceived. the liability to income-tax is under section 3 of the income-tax act. the annual finance acts legislate about the rate of tax and other facts that effect the assessment. where, therefore, say, on the 6th april, 1945, a law ..... in india is of no consequence, for on the date the assessments were made the finance act had already become law.a somewhat similar question arose before an english court in eastwood v. inland revenue commissioners; section 21(1) of the (english) finance act of 1936 deals with income for the benefit of a child in any year of assessment ..... federal court had to deal with a notification under section 2(1) by which the governor of bihar directed that the indian income-tax (amendment) act, 1939 (vii of 1939), the income-tax law (amendment) act, 1940 (xii of 1940), the excess profits tax act, 1940 (xv of 1940), and the indian finance act, 1940 (xvi of 1940), shall be deemed .....

Vishvakarma Paper and Boards Ltd. Vs. the Commissioner of Central Exci ...

Court : Uttaranchal

..... the notification dated 2nd of april, 1994, issued by the government of bihar in exercise of power conferred by clause (b) of sub-section (3) of section 7 of the bihar finance act, 1981, the high court further came to the conclusion that the notification so far as it imposes a condition that the facility of sales tax ..... which are being extracted hereunder:7. coming to the second question, namely the issuance of notification by the state government in exercise of power under section 7 of the bihar finance act, it is true that issuance of such notifications entitles the industrial units to avail of the incentives and benefits declared by the state government in ..... to as 'the industrial policy') and whether the notification issued by the government of bihar dated 2nd of april, 1994 in exercise of power under section 7 of the bihar finance act to the extent it indicates 'who has not availed of any facility or benefit under any industrial promotion policy' is invalid as being contrary to the .....

Kalsis Kitchenette Vs. Commissioner of Central Excise, Pune Iii

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... decision cannot be applied to the facts of the present case. 5. i find that as per the provisions of section 80 of the finance act, notwithstanding anything contained in the provisions of section 76, section 77 or section 78, no penalty shall be imposable on the assessee for any failure referred to in said provisions, if the ..... assessee proves that there was reasonable cause for the said failure. 6. in this case, the penalty is imposed under section 78 of the finance act which provides for penalty in case service tax has not been paid by reasons of fraud, collusion, willful suppression of facts or contravention of any ..... paid the amount of service tax alongwith interest and are not contesting the same. the adjudicating authority also imposed a penalty equal to confirmed demand under section 78 of the finance act. the appellants filed an appeal and the commissioner (appeals) dismissed their appeal. the contention of the appellants is that during the period of dispute .....