Judgment Search Results Home > Cases Phrase: finance act 1970 section 19 substitution of new section for section 130 Court: chennai Page 12 of about 203 results (0.265 seconds)

Gannan Dunkerley and Co. (Madras) Ltd. Vs. State of Madras

Court : Chennai

Reported in : AIR1954Mad130

..... on a sinking fund policy. the question that arose for decision was whether the company was carrying on 'trade' or 'business' within the meaning of the finance act of 1915, section 39. the court of appeal held that the company did carry on trade or business and was, therefore, liable to be assessed to excess profits duty under ..... the finance act.lord sterndale m. r. at p. 272 considered the meaning of the word 'business' used in the finance act, section 39 and according to the learned master of rolls, the word denotes trade or business of any description carried on ..... and that even holding-company, which does not do any active business but only indulges in passively carrying on business, may yet be doing 'business' within the meaning of the finance act.42. a. lewis and co. (westminster), ltd. v. bell property trust ltd.', 1940 1 ch 345 (z3), is an interesting case. the question dealt with was .....

Commissioner of Income-tax Vs. Thangamaligai and Co.

Court : Chennai

Reported in : [2000]241ITR525(Mad)

..... rejected as a question of fact and hence this question cannot be referred.4. sub-section (3a) of section 37 of the income-tax act, 1961 (act no. 43 of 1961-for short 'it act'), which was inserted by the finance act, 1983, with effect from april 1, 1984, and omitted by the finance act, 1985, with effect from april 1, 1986, reads as under :'(3a) notwithstanding anything contained in ..... such excess shall not be allowed as deduction in computing the income chargeable under the head 'profits and gains of business or profession'.'5. sub-section (sb) of section 37 thereof, inserted by the finance act, 1983, with effect from april 1, 1984, and omitted by the finance act, 1985, with effect from april 1, 1986, reads as under :'(3b) the expenditure, referred to in sub .....

Ms.Thanjavur Textiles Ltd. Vs. the Joint Commissioner of Income Tax

Court : Chennai

..... 306 (commissioner of income tax kolkata iii v. alom extrusions limited), wherein the supreme court had considered the effect of the omission of the second proviso to section 43 b of the income tax act under finance act, 2003, as having retrospective effect from 1.4.1988, he submitted that going by the deposit made in the separate account, which cannot be in any ..... the decision reported in (2009) 319 itr 306 (commissioner of income tax kolkata iii v. alom extrusions limited) the apex court pointed out that the object of section 43 b, inserted under the finance act 1983, with effect from 1.4.1983, was to disallow deduction claimed merely by making a book entry based on mercantile system of accounting. referring to the deletion .....

Cwt Vs. Alfred and Berg Co. (i) (P) Ltd.

Court : Chennai

Reported in : [2003]129TAXMAN743(Mad)

..... has not considered the terms and conditions of the lease deed under which the building was let out. the tribunal also has to consider the terms of section 40(3)(vi) of finance act and then examine the question and even if it is commercial asset ' it has to be considered whether it is excludible from the levy of wealth-tax ..... clause in the memorandum of association is alone not sufficient and the tribunal should consider whether the building was a business asset or not with reference to section 40(3)(vi) of the finance act, 1983 and also with reference to the terms of the lease deed under which the property was let out. in the instant case, the tribunal ..... portion of the building to the tenants and realised rental income from the portion of the building let out to the tenants. the wealth tax officer applied section 40(3)(vi) of the finance act, 1983 and held that the let out portion of the building was assessable to wealth-tax, which was confirmed by the commissioner (appeals). the tribunal .....

Madras Petrochem Limited Vs. Union of India and ors.

Court : Chennai

Reported in : 1987(12)ECC236; 1987(11)LC225(Madras); 1987(28)ELT5(Mad)

..... enforcement will have to be done retrospectively. such enforcement retrospectively cannot have the stamp of unreasonableness or arbitrariness. it must be noted that explanation to section 51 of the finance act, 1982, excludes attraction of criminal liability on account of retrospectivity. even the civil liabilities must be deemed to be enforced a per the law ..... by the collector under sub-rule (1), shall be deemed to have been removed from such place or premises immediately before such consumption or utilisation'. section 51 of the finance act, 1982 reads as follows :- 'retrospective effect for certain amendments to central excise rules and validation :- (1) the amendments made in rules 9 and ..... 20/82-ce, dated 20.2.1982, and this has been given retrospective effect from the date on which the rules came into force by section 51 of the finance act, 1982, which is a parliament made law. the said explanation reads as follows :- 'for the purpose of this rule, excisable goods produced, cured .....

Additional Commissioner of Income-tax Vs. Abhai Maligai

Court : Chennai

Reported in : [1978]113ITR737(Mad)

..... thus : ' as has been already noticed the explanation in question was introduced in section 271(1) of the act by virtue of an amendment of that section effected by section 40 of the finance act, 1964. it is expressly statedin section 1(2) of the finance act, 1964, that sections 3 to 55 thereof shall be deemed to have come into force only on ..... has indicated such an intention either by express words or by necessary implication. it appears to us to be clear that the two changes introduced in section 271(1) of the act by the finance act, 1964, consisting of the deletion of the word ' deliberately ' which occurred in clause (c) and the insertion of the explanation at the ..... the 1st day of april, 1964. it is, therefore, clear that the intention of parliament was that the amendments in question introduced by section 40 of the finance act were to be effective only from april 1, 1964. the learned counsel for the revenue, however, contends that since the provisions of the explanation relate .....

Royal Enfield Vs. Commissioner of Service Tax, Chennai

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... rule 2(p) was substituted as under:- "(p). output servicemeans any taxable service, excluding the taxable service referred to in sub-clause (zzp) of clause (105) of section 65 of the finance act, provided by the provider of taxable service, to a customer, client, subscriber, policy holder or any other person, as the case may be, and the expressions 'provider' ..... so far as the demand of tax was restricted for the period from 19.4.2006 to january 2007 along with interest. penalty was waived by invoking section 80 of the finance act, 1994. the assessee filed appeal before the tribunal against the demand of tax along with interest for the period from 19.4.2006 to jan'07. ..... for the period april 2006 to january 2007. the adjudicating authority confirmed the demand of service tax of rs.10,27,257/- along with interest under section 73 (1) of the finance act, 1994 and disallowed the cenvat credit of rs.10,27,257/- under rule 14 of the ccr 2007 utilized towards the payment of tax and imposed .....

M/s. Sundaram Motors, Represented by its CFO and Global President-Fina ...

Court : Chennai Madurai

..... 6(3a)(c)(iii) of ccr and proviso to section 73(1) of the finance act, 1994 and interest at the rate prescribed under section 75 of the finance act 1994 and penalty under rule 15(3) of the cenvat credit rules, 2004 read with section 78 of the finance act, 1994 and also penalty under section 77 (2) of the finance act, 1994. 2. the other writ petition in w.p .....

M/S. Jmj Constructions, Rep. by Its Managing Partner Vs. the Assistant ...

Court : Chennai

..... any show cause notice had been issued to the petitioner. the petitioner was under the impression that it had paid the entire service tax, in terms of section 73(3) of the finance act, 1994. however, the assistant commissioner of central excise, salem-i division, the first respondent herein, had issued a show cause notice, dated 21.4. ..... second respondent, without considering the facts and circumstances of the case, had refused to condone the delay stating that he does not have the power, as per section 85 of the finance act, 1994, to condone the delay of over three months. accordingly, he had passed the order, dated 27.1.2011, rejecting the appeal filed by the petitioner ..... in view of the submissions made by the learned counsel appearing for the petitioner, as well as the respondents, and on a perusal of the provisions of section 85 of the finance act, 1994, it is clear that there is no power vested in the appellate authority to condone the delay of over six months in preferring the appeal. .....

Sree Infra Tech Vs. Commissioner of Central Excise Tiruchirapalli

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... delay in remitting tax. at any rate, when the appellant did not owe any money to the government in view of the retrospective amount as per section 97 of finance act, 1994 the demand for interest cannot be sustained. 5. i have considered submissions on both sides. i find merit in the argument of the counsel for ..... authority ordered that the amount already paid by the appellant be credited to the consumer welfare fund in terms of section 73a(6) of the finance act, 1994. further the demand for interest of rs.1,21,011/- was confirmed against the appellant. aggrieved by the order, the appellant filed appeal ..... and also demanding an interest amount of rs.1,31,888/-. by the time of adjudication, section 97 was inserted in finance act, 1994 exempting service tax in respect of management, maintenance and repair service retrospectively from 16-05-2005, by finance act 2012. consequently at the time of adjudication, the demand for tax was dropped. the adjudicating .....