Court : Madhya Pradesh
Reported in : (2007)7VST197(MP)
..... on the goods to render the product marketable to the consumer;section 2(d) of the central excise act, 1944 defines excisable goods; thus:2(d): 'excisable goods' means goods specified in the first schedule and the second schedule to the central excise tariff act, 1985 (5 of 1986) as being subject to a duty of excise and includes salt;service tax was introduced in india vide finance act, 1994. ..... 'manufacture' includes any process - (i) incidental or ancillary to the completion of a manufactured product;(ii) which is specified in relation to any goods in the section or chapter notes of the first schedule to the central excise tariff act, 1985 (5 of 1986) as amounting to manufacture; or(iii) which in relation to the goods specified in the third schedule, involves packing or repacking of such goods in a unit container or labelling or relabelling of containers including the declaration or alteration of retail sale price on it or adoption of any other treatment ..... it may also be noted that section 2(d) of the central excise act defines 'excisable goods' means goods specified in the first schedule and the second schedule to the central excise tariff act, 1985 (5 of 1986) as being subject to a duty of ..... that as per section 2(d) of the central excise act, excisable goods means goods specified in the first schedule and the second schedule to the central excise tariff act, 1985. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1963SC1436; [1963]48ITR154(SC); [1963]Supp2SCR92
..... years beginning on the 1st day of april of the years 1948 to 1955 inclusive, a rebate of income-tax was allowed to a company on a part of its total income under clause (i) of the proviso to paragraph b of part i of the relevant schedules to the finance acts specifying the rates of tax for the relevant year, and subsequently the amount on which the rebate of income-tax was allowed as aforesaid is availed of by the company, wholly or partly, for declaring dividends in any year ..... firstly, the result of the assessment of the firm showing that the partners' income was not properly included in their own assessments, was to be deemed to disclose an error in the record of the partners' assessment and secondly, the period of four years instead of being computed from the order of assessment made against the partners as under sub-s. ..... points out that the first part of the sub-section talks of the assessments made for any of the years beginning on april 1, 1948, to april 1, 1955, when a rebate of income-tax was allowed; then the second part refers to the subsequent declaration of dividend by the company in any year. ..... , and reference was also made to another decision following habibullah's case : [1962]46itr609(sc) , second additional income-tax officer v. ..... it is indeed true that in the second part of the sub-section the expression used is 'declaring dividends in any year' and this has to be read in conjunction with the word 'subsequently ' which can only mean subsequent to the allowance of the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2008)214CTR(SC)274; [2008]297ITR322(SC); JT2008(1)SC208; 2008(1)SCALE99; (2008)4SCC362; 2008AIRSCW1066
..... for determination: whether on the facts and circumstances of this case, the finance act, 2001 ('fa' for short) was applicable to 'block assessment' under chapter xiv-b in respect of the search carried out on 17.1.2001; secondly, whether the proviso inserted in section 113 by the finance act, 2002 is clarificatory?whether finance act, 2001 was applicable to block assessment under chapter xiv-b up to 1.06.2002 ..... income-tax computed in accordance with the provisions of sections 112 and 113 shall be increased by a surcharge for purposes of the union or surcharge as provided in paragraph a, b, c, d or e, as the case may be, of part i of the first schedule:provided further that in respect of any income chargeable to tax under sections 115a, 115ab, 115ac, 115aca, 115ad, 115b, 158bb, 115bba, 115e and 115jb of the income-tax ..... section 2(1) of the finance act, 2001 inter alia stated that, subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on 1.4.2001, income-tax shall be charged at the rates specified in part i of the first schedule and such tax shall be increased in cases to which paragraphs a, b, c and d of that part applied, by a surcharge for ..... in the present case, the ao has applied the rate of surcharge at 17% which rate finds place in para a of part i of the first schedule to the said fa of 2001, therefore, surcharge leviable under the fa was a distinct charge, not dependant for its leviability on the assessee's liability to pay income-tax but .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2004SC3757; (2004)4CompLJ108(SC); 2004(3)CTC63; (2004)188CTR(SC)297; 2004(93)ECC353; 2004(167)ELT3(SC); [2004]267ITR9(SC); [2004(4)JCR66(SC)]; JT2004(4)SC568; (2004)3MLJ
..... in the present case, service tax levied on services rendered by mandapmam -keeper as defined in the said act under sections 65, 66 and 67 of the finance act has been challenged by the appellants on the following two grounds:a) that it amounts to the tax on land and, therefore, by reason of entry 49 of list 2 of the seventh schedule of the constitution, only the state government is competent to levy such tax and;b) insofar as it levies a tax on catering ..... tax on land per se which is a subject specifically earmarked for the state legislatures under entries 18 and 49 of list ii of the constitution.e) furthermore, on a bare perusal of the yardstick prescribed in the finance act, 1994 for charging service tax from the mandapmam -keepers, it would become amply clear that in the garb of taxing services, the parliament has in fact imposed a tax on sale of goods including food items ..... that this court may be pleased to issue a writ of declaration or any other appropriate writ, order or direction in the nature of a writ of declaration declaring that the provisions of chapter v of the finance act, 1994 and, in particular, sections 66, 67(o) and rule 2(1)(d)(ix) of the service tax rules, 1994 and other provisions insofar as it relates to kalyana mandapmam ams and mandapmam -keepers are illegal, ultra vires and ..... arbitral proceedings' would include proceedings for the enforcement of the award as well, the second limb of section 85(2)(a) would become superfluous and cannot be accepted.'50. ..... 1969 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1962SC1406; [1963]1SCR491
..... for the time being in force, no motor vehicle shall be used in any public place or kept for use in rajasthan unless the owner thereof has paid in respect of it, a tax at the appropriate rate specified in the schedules to this act within the time allowed by section 5 and, save as hereinafter specified, such tax shall be payable annually notwithstanding that the motor vehicle may from time to time cease to be used. ..... have kept in mind three main considerations which may be broadly stated thus : first, in the larger interests of india there must be free flow of trade, commerce and intercourse, both inter-state and inter-state; second, the regional interests must not be ignored altogether; and third, there must be a power of intervention by the union in any case of crisis to deal with particular problems that may arise in any part of india. ..... wilson, the founder of the 'economist' and the first member of finance, advocated that the provinces should not depend on 'grants' but should have ..... may be specified in the agreement : provided that the president may at any time after the expiration of five years from such commencement terminate or modify any such agreement if, after consideration of the report of the finance commission constituted under article 280, he thinks it necessary to do so'). ..... i of part xii under the general heading finance', article 265 declares that no tax shall be levied or collected except by authority of law; that is to say, tax cannot be levied or collected by an .....
Tag this Judgment!Court : Kerala
Reported in : [1981]130ITR631(Ker)
..... the amount of the rebate arrived at under the first proviso to paragraph d of part ii of the first schedule to the finance act, 1964 (v of 1964), or, as the case may be, the first proviso to paragraph f of part i of the first schedule to the finance act, 1965 (x of 1965), is required to be reduced under the second proviso to the said paragraph d or, as the case may be, the second proviso to the said paragraph f, as diminished by so much of the amount of dividends aforesaid with reference ..... when we turn to paragraph d of part ii of the first schedule to the finance act, 1964, we find that under clause (i) of the proviso to the said paragraph the grant of a rebate is contemplated only where the company has earned profits liable to tax under the act for the assessment year commencing on 1st april, 1964, clause (i)(c)(a) of the second proviso enjoins that the amount of such rebate shall be reduced by a sum calculated at 7.5% of the ..... the tribunal held that levy of additional tax under paragraph f(i)(b) of part i of the first schedule of the finance act, 1966, would be warranted only if the dividend distributed by the assessee-company was in excess of 10% of the paid up capital, and since the facts of the case disclosed ..... 1, it is clear that for the purposes of sub-clause (b) of clause i of paragraph f of the first schedule to the finance act, 1966, only amounts distributed by way of dividends by companies which had earned income or profits liable to tax during the assessment years .....
Tag this Judgment!Court : Kerala
Reported in : [1972]84ITR30(Ker)
..... paid-up equitycapital: atthe rate of 7.5% (b) in any other case- on the whole amount of thedividends other than dividends on preference shares: atthe rate of 7.5% ' the question for decision is whether 'the whole amount of the dividends' in clause (i)(c)(b) of the second proviso to paragraph d of the first schedule of the finance act, 1964, will include the sum of rs. ..... however attractive this argument may be, it is not justified because of section 43 of the state financial corporations act and the wording of clause (i)(c)(b) of the second proviso read with clause (i)(a) of the first proviso to paragraph d of part ii of the first schedule to the finance act, 1964. ..... 2(1)(b) of the finance act, 1964 (act 5 of 1964), provided that super-tax for purposes of section 95 of the income-tax act, 1961, be charged at the rates specified in part ii of the first schedule of the finance act. ..... in the finance act of 1964 (act 5 of 1964), the levy of income-tax on companies was regulated by part i, paragraph d, and the levy of supertax was regulated by part ii, paragraph d, of the first schedule read with section 2(1)(b) of that act. ..... paragraph d of part ii of the first schedule of the finance act, 1964, prescribed the rate of super-tax at 55% on the whole of the total income of every company, other than the life insurance corporation of ..... the assessee satisfies the conditions prescribed in clause (i) (a) of the first proviso to part ii of the first schedule of the finance act, 1964, is not disputed. .....
Tag this Judgment!Court : Chennai
Reported in : 2009(243)ELT179(Mad); (2009)24VST193(Mad)
..... ...2404.40 chewing tobacco and 40%preparations containingchewing tobacco========================================'the relevant extracts from the finance act, 2001 read as follows:' the fourth schedule[see section 134 (a)]part - iin the first schedule to the central excise tariff act, -(1) in chapter 21, for note 3, the following note shall be substituted, ..... contained in sub-section (2) to (8) of section 3 or section 3-a or section 3-b but subject to the provisions of sub-section (1) of section 3, the tax under this act shall be payable by a dealer on the sale or purchase inside the state of declared goods at the rate and only at the point specified against each in the second schedule on the turnover in such goods in each year. [.....]'. ..... kerala] as follows:the central government decided to pass an act to provide for the levy and collection of additional duties of excise on certain goods and for the distribution of a part of the net proceeds thereof among the states in pursuance of the principles of distribution recommended by the second finance commission in its report dated september 30, 1957. ..... the fifth schedule which relates to the second schedule to the cet act and in the sixth schedule which relates to the first schedule to the ..... other words, the omission of the word 'seeds' from the second part of the definition casts its shadow on the first part as ..... indeed it rather looks as if the second part of the definition is intended to restrict rather than expand the scope of the .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1963Cal598,[1963]47ITR247(Cal)
..... so decides, it must specifically use charging words to make the surplus arising from such transactions liable to tax, or as has been done in section 53 (2) (h) of the finance act, 1920, relating to corporation profits tax, income must be declared to include, in the case of mutual insurance companies, the surplus arising from transactions with members. ..... authoritative, decisions introduced some refinements into the english rule and in 1933 parliament (by section 31(1) of the finance act of that year) enacted that 'profit or surplus arising from transactions of the company or society with its members' would be taxable as 'profits or gains' in all cases where they would have been taxable as such 'if ..... 'the criticism in the latest judgment of the house of lords against section 31 (1) of the english finance act of 1933 may well be applied to the effort of the indian legislature to subject mutual life insurance associations ..... note of caution as to results and implications of the privy council judgment, we doubt if it will be expedient to recommend any definite legislative provisions at this stage, either, on the lines of sections 5 (2) and 5 (2) (h) of the english finance act, 1920 and section 31 (1) of the finance act, 1933 01 section 117 etc. ..... governing section so far as this reference is concerned and was introduced by section 3 of the finance act, 1955 with effect from the 1st of april, 1955.16. ..... second objection of the assessee was based on rule 6 of the schedule of the income-tax act .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]108ITR802(Cal)
..... calcutta, who manufactures and processes wire rods will be entitled to rebate allowed under the 1965 finance act and deduction allowed in the 1966 finance act incorporating section 80e in the income-tax act, 1961, by reason of its products, namely, wire rods, coming within the definition of the item or an article or thing in item 1 of part iii of the 1965 finance act and under item 1 of the fifth schedule to the income-tax act, 1961. ..... contended that in the absence of any definition of the words 'iron', 'steel' or 'metal' in the finance act, 1965, part iii, and in the fifth schedule of the income-tax act, the expression 'iron and steel (metal)' in the items in question was ambiguous. ..... the assessments for the said assessment years the assessee claimed that its product, that is, wire rods, came within item 1 of the list of articles specified in part iii of the first schedule under the finance act, 1965, and, therefore, it was entitled to the extra rebate for the assessment year 1965-66. ..... sen, learned counsel for the revenue, has contended on the other hand that the items in the schedules of the finance act, 1965, and the finance act, 1966, were quite clear and there was no ambiguity. ..... shah veljilhai motichand [1969] 23 stc 288 (guj), devi dass gopal krishnan ..... secondly, he contended that the treatment of the identical subject-matter in earlier statutes may be taken into account to ascertain the object of the legislature in promulgating a subsequent statute in respect of the same subject- .....
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