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Cellular Operators Association of India and Others vs.union of India a ...

Court : Delhi

..... (c) no.7837/2016 page 7 of 26 which partially permit utilization of ec and she by adding six provisos in rule 3, sub-rule (7) in clause (b), which reads as under:-" cenvat credit rules, 2004-second amendment of 2015 in exercise of the powers conferred by section 37 of the central excise act, 1944 (1 of 1944) and section 94 of the finance act, 1994 (32 of 1994), the central government hereby makes the following rules further to amend the cenvat credit rules, 2004, namely:-"1. ..... , vide notification no.15/2015-ce dated 1st march, 2015, the central government in public interest had exempted all goods falling in the first schedule of the central excise tariff act, 1985 from whole of she leviable under section 138 of the finance act, 2007. ..... in sub-rule (7), in clause (b), after the second proviso, the following shall be substituted, namely:-" provided also that the credit of education cess and secondary and higher education cess paid on inputs or capital goods received in the factory of manufacture of final product on or after the 1st day of march, 2015 can be utilized for payment of the duty of excise leviable under the first schedule to the excise tariff act: provided also that the credit of balance ..... by notification no.14/2015-ce dated 1st march, 2015, the central government in public interest had granted exemption to all goods falling in the first schedule of the central excise tariff act, 1885 from whole of ec leviable thereon under section 93 of the finance (no.2) act, 2004. .....

The International Association For Protection Of Intellectual Property ...

Court : Supreme Court of India

..... it is important to notice that the changes brought about in the tenure and age limits were not only through the schedule to the finance act, 2017, but also through its substantive provisions - sections 156 to 182.6 these provisions introduced changes relating to tenure and age limits for members and chairpersons of 19 tribunals (including the income tax appellate tribunal; ..... , vice-chairperson and other members of the appellate board appointed after the commencement of part xiv of chapter vi of the finance act, 2017 (7 of 2017), shall be governed by the provisions of section 184 of that act: provided that the chairperson, vice-chairperson and other members appointed before the commencement of part xiv of chapter vi of the finance act, 2017 (7 of 2017), shall continue to be governed by the provisions of this act, and the rules made thereunder as if the provisions of section 184 of the ..... secondly, eight existing tribunals established under different legislations (specified in the ninth schedule) were abolished and their respective jurisdictions and powers were incorporated into seven existing tribunals, reducing the number of tribunals from 26 to19. ..... in the case of chairpersons, the maximum age limit prescribed was seventy years (by virtue of second proviso to section 184 [1].). .....

Noel Harper Vs. Union Of India

Court : Supreme Court of India

..... finance act, 2016 and the second amendment was made by section 220 of the finance act ..... at new delhi, as the central government may, by notification, specify in this behalf: provided that such person may also open another fcra account in any of the scheduled bank of his choice for the purpose of keeping or utilising the foreign contribution which has been received from his fcra account in the specified branch of state bank of ..... india at new delhi: provided further that such person may also open one or more accounts in one or more scheduled banks of his choice to which he may transfer for utilising any foreign contribution received by him in his fcra account in the specified branch of the state bank of ..... his relative; or (f) by way of remittance received, in the ordinary course of business through any official channel, post-office, or any authorised person in foreign exchange under the foreign exchange management act, 1999 (42 of 1999); or (g) by way of any scholarship, stipend or any payment of like nature: provided that in case any foreign contribution received by any person specified under section 3, ..... union of india & ors.93; 82 air1963sc812(paras 9-10) 83 air1954sc728(para23) 84 air1961sc884(paras 26, 28-32) 85 air1962sc1796(paras 14-19) 86 air1963sc1047(paras 1, 14-15) 87 (1969) 1 scc475(paras 10,14) 88 (1970) 3 scc746(paras 12-16, 24, 26-28,46) 89 (1973) 2 scc617(paras 16-20, 24-25) 90 (1975) 2 scc47(para28) 91 (1986) 3 scc20 .....

Checkmate Services P Ltd Vs. Commissioner Of Income Tax-i

Court : Supreme Court of India

..... however, as stated above, the second proviso resulted in implementation problems, which have been mentioned hereinabove, and which resulted in the enactment of the finance act, 2003, deleting 25 the second proviso and bringing about uniformity in the first proviso by equating tax, duty, cess and fee with contributions to welfare funds ..... it is important to note once again that, by the finance act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess and fee on the one hand vis- -vis contributions to welfare funds of employee(s) on the ..... (2010) 1 scc489 8 of deletion of the second proviso to section 43b of it act (by finance act, 2003) and whether the same operated prospectively. ..... fix, he shall within fifteen days of the close of every month pay the same to the fund electronic through internet banking of the state bank of india or any other nationalised bank or through paygov platform or through scheduled banks in india including private sector banks authorized for collection on account of contributions and administrative charge: (emphasis supplied) 7. ..... learned senior counsel referred to clause 2(c) of the fourth schedule of the it act: part a recognized provident funds definitions.2. ..... with the passage of time, the legislature inserted more deductions to section 43b including cess, bonus or commission payable by employer, interest on loans payable to financial institutions, scheduled banks etc. .....

income-tax Officer Vs. Haryana Harijan Kalyan Nigam Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (1983)5ITD282(Chd.)

..... commissioner (appeals), section 10(2(16), which was inserted by the finance act, 1980 with retrospective effect from 1-4-1972, which reads as under : (26b) any income of a corporation established by a central, state or provincial act or of any other body, institution or association (being a body, institution or association wholly financed by government) where such corporation or other body or institution or association has been established or formed for promoting the interests of the members of either the scheduled castes or the scheduled tribes or of both. ..... 1,000 each and the said shares were held as under :1.commissioner and secretary to government, haryana 11,349 welfare of scheduled castes and backward classes department, chandigarh2.director, welfare of scheduled castes and backward 1 --------- classes department, haryana, chandigarh 117350 --------- the paid up capital of the assessee-company as on ..... (i) any income of a corporation established by a central, state or provincial act ; or (ii) any income of any other body, institution or association wholly financed by the government.it is clear that the assessee falls in second category, looking to the facts that it was started as per decision of the haryana government, which would be clear from the following : ^^gfj;k.kk eaf=eamy us 5&8&1970 dks gqbz csbd esa ;g fu.kz; dj fy;k gs fd nks djksm+ :i;s dh ..... therefore, even second part of the relevant provision, as observed by the commissioner (appeals) in para 2 of his order, .....

Muthoot Leasing and Finance Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2003)84ITD477(Coch.)

..... this class of hire-purchase agreement must be distinguished from transaction in which the customer is the owner of the goods and with a view to finance his purchase he enters into an agreement which is in the form of a hire-purchase agreement with the financier, but in substance evidence a loan transaction, subject to hiring agreement under which the lender is given ..... charges would not be in the nature of interest and that if the transactions are in substance in the nature of financing transactions, the hire charges should be treated as interest subject to interest-tax.but the board further clarified that before coming to such a conclusion whether a hire-purchase transaction is in substance in the nature of hire-purchase or financing has to be considered on merits taking into account, the intention of the parties which manifests itself in the fixation ..... representative submitted that by no stretch of imagination it could be said that finance charges collected on hire-purchases are interest liable for interest-tax, when as per the act only interests charged by the financial institutions are liable for interest-tax. ..... appellate authority noted that in case of loss of vehicle/article the applicant has to pay the entire balance amount mentioned in the second schedule remaining unpaid at the time of loss. ..... aggrieved and is in second appeal before the tribunal.9 ..... the assessee's paper book giving details of the scheduled payments. ..... in relation to scheduled banks, the tax operation was .....

M/S.Srei Infrastructure Finance Ltd. Vs. Dy.Commissioner of Income Tax ...

Court : Kolkata

..... we are supported in our view by sub-section 1, the second proviso to sub-section 3; sub-section 11 and sub-section 12 of section 2 of the finance act, 2008, which provides as follows: (1) subject to the provisions of sub-section (2) and (3).for the assessment year commencing on the 1st day of april, 2008, income-tax shall be charged at the rates specified in part i of the firs.schedule and such tax as reduced by the rebate of income-tax calculated under chapter viii-a of the income ..... the underlined portions of the statute indicated above may be collated as follows:(a)sub-section 1 of section 2 of the finance act, 2008 provides inter alia as follows: .such tax as reduced by the rebate of income tax calculated under chapter viii-a of the income tax act, 1961 (43 of 1961) (hereinafter referred to as the income tax act) shall be increased by a surcharge (b) second proviso to sub-section 3 of the finance act, 2008 provides, inter alia as follows: .the amount of income tax computed under this sub-section ..... -tax act, 1961 (43 of 1961) (hereinafter referred to as the income-tax .....

N.C. Choudhury Vs. State of Meghalaya and ors.

Court : Guwahati

..... under rule 7(1) of the said rules, the option under the proviso to rule 5 shall be exercised, in writing, in the form appended to the second schedule thereof and submitted, within sixty days from the date of publication of the said rules to the authority mentioned in sub-rule (2) of rule 7 and that the option, once exercised, shall be, according to ..... by this application made under article 226 of the constitution of india, the petitioner, an assistant conservator of forests, meghalaya, having failed to convince his administrative department and also the finance (pay revision) department, that the scale of pay of the petitioner fixed under the revised pay scale needs to be corrected in accordance with the provisions of the relevant rules, has approached ..... on receiving the letter, dated 16.3.1994 (annexure - 4 to the writ petition) aforementioned from the head of office of the petitioner), the finance (pr) department examined the matter once again and found that the option had not been exercised by the petitioner in the prescribed form inasmuch as it did not contain acknowledgement ..... in such a situation, the finance (pr) department had no other alternative but to act in accordance with rule 7(4) and fix the revised pay scale of the petitioner with effect from 1.1.1987 inasmuch as rule 7(4) of the said rules provides that if intimation regarding option is not received ..... the finance (pr) department, thus, acted in accordance with the relevant rules in fixing the revision scale of pay .....

Commissioner of Income-tax Vs. Hindustan Lever Limited

Court : Mumbai

Reported in : (1986)52CTR(Bom)176; [1986]160ITR700(Bom); [1986]24TAXMAN273(Bom)

..... have to be included in the capital computation and, as regards the other amounts, relying on the explanation to rule 1 of the second schedule to the companies surtax act and the definitions of the expressions 'reserve' and 'provision' in part iii of the sixth schedule to the companies act, he came to the conclusion that the other items of contingency reserve, reserve for doubtful debts and super profits tax, surtax and dividend ..... note that the explanation to rule 1 of the second schedule to the companies surtax act provides that any amount standing to the credit of any account in the books of the company on the date set out therein which is of the nature of items (5), (6) or (7), under certain headings in the column relating to 'liabilities' in the 'form of balance-sheet' given in part i of the sixth schedule to the companies act shall not be regarded as a reserve for the ..... it was pointed out by him that under the provisions of rule 1 of the second schedule to the companies surtax act, the capital of the company has to be calculated as on the 1st day of the previous year relevant to the assessment year ..... finance act imposing tax on dividends had already come into force, and, therefore, it is beyond dispute that this amount was set aside in order to meet the liability to pay tax on dividend which came into existence on account of the provisions of the finance act ..... introduced in parliament on february 29, 1964, and the finance act imposing tax on dividends came into effect on april .....

Commissioner of Income-tax Vs. Voltas Ltd.

Court : Mumbai

Reported in : [1994]205ITR569(Bom)

..... in the reported case, the court has considered the first part of the explanation inserted in rule 1 of the first schedule to the surtax act, by the finance act, 1981, which was made applicable from april 1, 1981, that is from the assessment year 1981-82 while, in the present reference, we are concerned with the second part of the said explanation. ..... 1992]194itr167(bom) , this high court was not directly concerned with the issue involved in the present reference, certain observations made by the court in connection with the explanation inserted in rule 1 of the first schedule to the surtax act, with effect from april 1, 1981, by the finance act, 1981, should not influence our mind in deciding the question referred to us. 10. ..... the explanation inserted in rule 1 of the first schedule to the surtax act, this court observed as under at page 178 of the report : 'it was lastly submitted by the assessee that by the finance act of 1981, an explanation has been added to rule 1 of the first schedule to the companies (profits) surtax act. ..... and in the circumstances of the case, the tribunal was right in law in holding that rule 4 of the second schedule to the companies (profits) surtax act, 1964, could not be invoked for the purpose of reducing the capital base proportionately having regard to the deductions the assessee-company had obtained in terms of chapter vi-a of the income-tax act in the computation of its total income (2) whether, on the facts and in the circumstances of the case, the .....