Judgment Search Results Home > Cases Phrase: finance act 1968 Court: kolkata appellate Year: 2007 Page 1 of about 41 results (0.036 seconds)

Joint Commissioner of Income Tax, Vs. I.T.C. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)112ITD57(Kol.)

..... amendment by the finance act, 2003 is retrospective in nature. however, the hon'ble chennai high court in the case of cit v. synergy financial exchange ltd. (supra) has held that deletion ..... payment has been made otherwise than in cash, the sum has been realized within fifteen days from the due date.the above second proviso has been omitted by the finance act, 2003 with effect from 1.04.2004 and the special bench, chennai in the case of kwality food products reported in 100 itd 198 has held that such ..... . however, the assessee will get the deduction therefor under section 36(1)(va) only if he deposits the sum received from employees before the due date specified under the act, rule, order or notification governing the funds mentioned above. thus the provision of section 43b, which is applicable in respect of employer's contribution, is quite different than .....

Joint Commissioner of Income Tax Vs. I.T.C. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)115TTJ(Kol.)45

..... such payment has been made otherwise than in cash, the sum has been realized within fifteen days from the due date.the above second proviso has been omitted by the finance act, 2003 w.e.f. 1st april, 2004 and the special bench, chennai in the case of kwality milk foods ltd. v. asstt cit has held that such amendment ..... by the finance act, 2003 is retrospective in nature.however, the hon'ble madras high court in the case of cit v. synergy financial exchange ltd. (supra), has held that deletion of second ..... . however, the assessee will get the deduction therefor under section 36(l)(va) only if he deposits the sum received from employees before the due date specified under the act, rule, order or notification governing the funds mentioned above. thus the provision of section 43b, which is applicable in respect of employer's contribution, is quite different than .....

Smt. Mina Deogun Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)117TTJ(Kol.)121

..... new system was to favour those assessees where capital gains accrued over a long period. the cbdt, in circular no. 636, dt. 31st aug., 1992, explained provisions of finance act, 1992 relating to amended scheme of capital gains. in this circular the board explained that in the scheme prior to 1992 a specified percentage was allowed as deduction under section ..... delhi, was purchased by sardar pratap singh, father of the appellant on 16th april, 1958 at a cost of rs. 34,600. on his death on 29th june, 1968; his wife smt. bhajan pratap singh became its owner. she expired on 16th sept., 1999 and the assessee along with her 3 sisters became co-owner of the said ..... to application of the correct cost inflation index for determining indexed cost of acquisition under section 48(2) of the act. the impugned property in question was acquired by smt. bhajan pratap singh on demise of her husband in 1968.accordingly, she was the owner of the property on 1st april, 1981. as per provisions of section 2(42a) .....

Pfh Mall and Retail Management Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)110ITD337(Kol.)

..... properties, i.e. shopping malls/business centres, by engaging in complex commercial activities. it cannot be denied that right from the planning stage and arranging finance for its investments, every subsequent activity of the assessee has been geared towards taking up mall and business centre management as a viable business proposition for ..... high court, in the case of bongaigaon refinery & petrochemicals ltd v.union of india he contended that the jurisdiction exercisable under section 263 of the act being supervisory in nature, permitting suo motu review of any assessment already made, the statutorily enjoined sanctions circumscribing it have to be rigorously construed. the ..... relevant judicial pronouncements, the court held that the rental income derived from the lease is assessable as business income under section 10 of the 1922 act. the learned counsel argued that the main consideration of the court in the said case was whether the lease rent received was from commercial utilisation .....

Varas International (P) Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... liquor after importing the same from outside the west bengal. he invited our attention to section 43b and submitted that the provision was inserted by the finance act, 1983, with effect from 1-4-1984 and has enacted a deeming fiction whereby certain expenses can be allowed only on payment basis even if allowable under ..... a) whether, on the facts and in the circumstances of the case and on a correct interpretation of the amendment made by the finance act, 1988 to the section 43b(a) of the income tax act, 1961 which has been explained as clarificatory of legislative intention by the explanatory notes issued by the government, the tribunal was justified in ..... attention to section 27 submitted that the state government has power under it to impose excise duty/countervailing duty on any "excisable article" imported as defined under the act. 6. (a) the learned senior counsel also took us to the various notifications issued by the government of west bengal, department of excise framing rules called the .....

Asian Exports Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2007)110TTJ(Kol.)152

..... because it processed cotton into cotton bales and was entitled to the concessional rate of tax within the meaning of sections 2(7)(c) and 2(8)(c) of the finance acts, 1973 and 1974, respectively.nu-look (p) ltd. v. cit (supra) held, reversing the decision of the tribunal, that when the assessee made readymade garments, it ..... for deduction under section 10b as such conversion of juvenile fishes into ornamental fishes could not be considered as manufacturing activity within the meaning of section 10b of the act, by relying on the order of supreme court in the case of venkateshwara hatcheries and ors. (supra). the assessee on the other hand has contended that ..... and/or no new article or thing emerged which are distinctive in character or identity and thereby disallowing the claim of the appellant under section 10b of the it act though it was demonstrated with evidence that the appellant was engaged in the business of ornamental fishes which was produced by them and new ornamental fishes with .....

Hutchison Telecom East Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... of the word 'work' for the purpose of section 194c as in the case of s.r.f. finance ltd. v. cbdt . the hon'ble court has held that there are qualitative differences between the word 'work' and the word 'services' and the two words convey different ..... the contention of the assessee regarding pass through charges at the same time he has considered the port charges payment as payment to contractor under section 194c of the act which is not at all justified. it has been contended by the id. counsel that various benches of the tribunal and high court has already interpreted the connotation ..... to the other telecom operators do not come within the purview of contract for "work" and therefore does not attract tax deduction at source under section 194c of the act. 3. the appellant therefore prays that the order treating the appellant as an assessee in default be struck down. 1. without prejudice to grounds i and ii above, .....

initiating Explosives Systems Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Reported in : (2008)9STR509

..... operations in any manner, the service cannot be taxed even if the consignment agent is brought under the definition of clearing and forwarding agent. under the scheme of the finance act, 1994 with relation to service tax, the tax liability is attached to the taxable service. so long as the appellant is not providing a taxable service, the appellant ..... the nature of activity carried out by the ici (india) ltd. was clearing and forwarding agent in terms of section 65(25) read with section 65(105)(j) of finance act, 1994. such a controversy was elaborately dealt by tribunal in its different decisions which were not at all before the learned commissioner (appeals) while passing the impugned order. in ..... not have been given. he relied on the judgments of hon'ble supreme court in the case of sri t.v.t. & b finn v. commr. tax officer, rajzhmundry air 1968 sc 784, the bhopal sugar industries ltd. v. sto (1977) 3 sec 147, alwaye agencies v. dy. commr. of agri tax & s.t. 1988 (supp) scc 394 .....

Commr. of Service Tax Vs. Indo Foreign (Agents) Pvt. Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Reported in : (2007)8STR12

..... pvt. ltd. v. commr. of central excise, new delhi reported in 2007 (5) s.t.r. 144 (tri.-del.) upholding imposition of penalty under section 76 of the finance act, 1994.3. ld. advocate appearing for the respondents on the other hand cites the decision of the tribunal in the case of mass marketing & advertising services pvt. ltd. v. ..... 76 of the finance act, 1994 relating to service tax is not similar to the provisions relating to customs and excise law and hence the decisions cited by the lower appellate authority to justify ..... department is in an appeal against the order of the lower appellate authority, who has set aside the penalty imposed by the original authority under section 76 of the finance act, 1994, for the reason that the service tax was paid prior to issue of show-cause notice. it is the case of the revenue that the provisions under section .....

Commr. of Service Tax Vs. Saket Enterprise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Reported in : (2007)10STJ265CESTAT(Kol.)kata

..... pvt. ltd. v. commr. of central excise, new delhi reported in 2007 (5) s. t. r. 144 (tri.-del.) upholding imposition of penalty under section 76 of the finance act, 1994.5. after considering the submissions made and after perusing the case records and the cited decisions, i find that the adjudicating authority has taken note of the facts that ..... 76 of the finance act, 1994 relating to service tax is not similar to the provisions relating to customs and excise law and hence the decisions cited by the lower appellate authority to ..... the department is in appeal against the order of the lower appellate authority, who has set aside the penalty imposed by the original authority under section 76 of the finance act, 1994, for the reason that the service tax was paid prior to issue of show-cause notice. it is the case of the revenue that the provisions under section .....