Judgment Search Results Home > Cases Phrase: finance act 1970 section 19 substitution of new section for section 130 Court: chennai Page 1 of about 203 results (0.229 seconds)

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii ..... of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii ..... of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii .....

G.V.Matheswaran Vs. the Union of India

Court : Chennai

..... ultra vires the provisions of the finance act, 1994 as amended by the finance act, 2007 and finance act, 2008. 36 in view of paragraph no.30 above, upholding the validity of section 65(105)(zzzz) and 65(90-a) of the finance act, 1994, as amended by the finance act, 2010 and section 77 of the finance act, 2010, w.p.nos.24586 ..... are filed seeking a writ of prohibition prohibiting the respondents from (a) giving effect to the provisions of section 65(90a) read with section 65(105)(zzzz) of the finance act, 1994 as amended by the finance act, 2007 and finance act, 2010 (b) levying or attempting to levy, collect or recover from the petitioner, any service tax under ..... sathyanarayanan, j. in this batch of writ petitions, challenge is made broadly to the provisions of section 65 (105)(zzzz) and 65(90a) of the finance act, 1994, as amended by the finance act, 2010 and section 77 of the finance act, 2010 on the ground that the said provisions are illegal, arbitrary and ultra vires the constitution .....

Commissioner of Income-tax Vs. L.G. Balakrishnan

Court : Chennai

Reported in : [2002]255ITR339(Mad)

..... can be entertained ?'3. the manner in which agricultural income is to be determined had been set out in the finance act in part iv. the finance act for the year 1979 in part iv, in rule 9 therein provides that where an assessee has agricultural income in the ..... granted to the assessee. allowing the assessee to claim set off of the losses determined after applying the rules of the earlier finance acts for those years against the agricultural income of the previous year relevant to the assessment year commencing on the 1st day of april ..... activities in the earlier assessment years after a computation made in accordance with the requirements of the rules provided in the relevant finance acts and that such loss had not been set off against the agricultural income of earlier years. the fact that the time at ..... j. 1. the assessment year is 1979-80. 2. despite the absence of provisions similar to sections 80 and 139(3) with regard to the need for having the loss determined in the relevant assessment .....

Commissioner of Income-tax Vs. Madras Motor and General Insurance Co. ...

Court : Chennai

Reported in : [1975]99ITR243(Mad)

..... even this argument is not available to the learned counsel now in view of the deletion of the words 'received by it' by the finance act, 1968, with retrospective effect. while deleting the provisions of section 99, finance act, 1968, by section 31(3) omitted the words 'received by it' with effect from 1st april, 1962.14. we, therefore, hold that the assessee ..... ,470. in this case the assessee claimed that the entire dividend income should be exempted from levy of corporation tax by virtue of the provisions of section 99(1)(iv) read with the finance act, 1964, paragraph d, part ii. for the same reasons given for the assessment year 1963-64, the income-tax officer held that even in ..... is entitled to rebate under section 99(1)(iv) as amended by the finance act, 1964, on the entire gross amount of rs. 4,91,470.15. the assessee is also not liable for surtax on this dividend income under .....

Arun Excello Foundations (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : LC(2007)(3)269

..... w.e.f. 1st april, 2000 has laid down various conditions and the provisions of section 80-ib amended by various finance acts as amended w.e.f. 1st april, 2000 by the finance act, 2000 and by the finance act, 2003 and as substituted by the finance (no. 2) act, 2004, the housing projects must be approved on or before 31st march, 2007 by ..... housing project or two thousand square feet, whichever is less.14. prior to its substitution by the finance (no. 2) act, 2004 w.e.f.1st april, 2005, sub-section (10) as amended by the finance act, 2000 w.e.f. 1st april, 2001 and finance act, 2003 w.e.f. 1st april, 2002 reads as under: (10) the amount of profits ..... was no ambiguity nor scope for interpretation in view of the clear language of the section which did not postulate any restriction regarding the extent of shops and commercial establishments under section 80-ib(10) and such restrictions with retrospective effect imposed only by finance act, 2004 w.e.f. asst. yr. 2005-06 and allowed the claim of .....

The Commissioner of Income Tax Vs. Asoka Betelnut Co. Pvt. Ltd.

Court : Chennai

Reported in : (2003)180CTR(Mad)178

..... its low paid employees will be excluded from net wealth'.a reading of the speech of the finance minister shows that section 40 of the finance act was introduced as a tax avoidance measure and the sub section (3) of section 40 of the finance act shows that the levy of wealth tax is not confined to assets transferred to closely held companies ..... sweep all the assets whether commercial or non-commercial belonging to the closely held companies listed in sub section 3 of section 40 of finance act. 8. in as far as the items of assets mentioned in sub section 3 of section 40 of the finance act are concerned, clause (v) deals with the land other than agricultural land. clause (vi) deals ..... purposes of its business. the commercial complex owned by the assessee is not one of the excluded items mentioned in clause (vi) of sub section 3 of section 40 of the finance act. the latter part of the same clause only deals with the building let out to employees and it has no application. the submission of the .....

Kasturi and Sons Ltd. Vs. Union of India Rep. and ors.

Court : Chennai

..... company in denmark and therefore, the impugned circular is challenged on various grounds including that the same is ultra vires section 83 of the finance act, 1994 and section 37b of the central excise act, 1944, that when the section itself takes away the maintenance of software from the purview of service tax, the second respondent cannot by virtue of ..... observed that software being goods, any service in relation to maintenance or repairing or servicing of software is liable for service tax under section 65(105)(zzg) read with section 65(19) of the finance act, 1994 and hence, the circular is in supercession of earlier circulars.5. under the contract entered on 31.10.2000 with a ..... the circular dated 7.10.2005 issued by the second respondent, the central board of excise and customs as ultra vires section 83 of finance act, 1994 read with sections 37b and 65(19) of the central excise act, 1944 and is in violation of articles 14, 19(1)(g) and 265 of the constitution of india insofar it .....

Secy. Federn. of Bus-operators Assn. of T.N. Vs. Union of India (Uoi)

Court : Chennai

Reported in : 2001(134)ELT618(Mad); 2006[2]STR411; [2007]6STT49

..... a person would be a 'tour operator' and would come under the dragnet of the finance act under section 65(52).51. however, in our opinion, the provisions of section 65(48)(o) read with section 66(3) of the finance act are extremely relevant and under any circumstances would cover the persons like petitioners. under those provisions ..... contract carriage and can, therefore, never be terrrted as a 'tourist vehicle' and therefore the owners of such vehicles cannot be covered under the finance act and more particularly under section 66(52) thereof.22. learned counsel mr. palani, drew our attention to the apex court ruling reported in (achyut v. regional transport officer ..... these writ petitions, the contention of the petitioners is that the petitioners do not come within the mischief of the finance act, 1994 imposing the 'service tax' vide section 66 read with section 65(38) and section 65(52) and the notice itself is without jurisdiction.3. the petitioners in these petitions can be classified in .....

Cit Vs. Asoka Betelnut Co. (P) Ltd.

Court : Chennai

Reported in : [2003]127TAXMAN331(Mad)

..... its sweep all the assets whether commercial or non-commercial belonging to the closely held companies listed in sub-section 3 of section 40 of finance act.8. inasfar as the items of assets mentioned in sub-section 3 of section 40 of the finance act are concerned, clause (v) deals with the land other than agricultural land. clause (vi) deals with ..... purposes of its business. the commercial complex owned by the assessee is not one of the excluded items mentioned in clause (vi) of sub-section 3 of section 40 of the finance act. the latter part of the same clause only deals with the building let out to employees and it has no application. the submission of ..... for an earlier assessment year though rendered subsequently, took a different view holding that the same property was liable to be taxed under the provisions of section 40 of the finance act.4. the assessee is a private limited company dealing in manufacture and sale of betelnut as also managing the business of real estates, office premises .....

The Commissioner of Wealth-tax Vs. Fagun Co. P. Ltd.

Court : Chennai

Reported in : 2007(1)CTC13; (2006)205CTR(Mad)225; [2006]286ITR297(Mad); (2006)4MLJ836

..... leviable. 6. heard both the counsel. it is useful to know the background of the introduction of section 40 of the finance act of 1983. earlier, wealth-tax was leviable on companies under section 3 of the finance act. section 13 of the finance act, 1960 provided that wealth-tax is not leviable on a company with effect from april 1, 1960 ..... only certain commercial assets alone are mentioned for the purpose of exemption. it does not exempt all the commercial assets. clause (vi) of sub-section 3 of section 40 of the finance act, specifically excludes buildings or part thereof used by the assessee as factory, godown, warehouse, cinema house, hotel or office for the purposes of ..... the assessee is not entitled to exemption unless the assets come within the specified assets mentioned in the said clause (vi) of sub-section (3) of section 40 of the finance act. it is noted that parliament has clearly specified the assets which are excluded under the said clause. all the commercial assets are not exempt .....