Judgment Search Results Home > Cases Phrase: finance act 1973 section 27 amendment of act 1 of 1944 Page 13 of about 1,135 results (0.181 seconds)

Ved Vyas Chawla Vs. the Income Tax Officer 'C' Ward and Anr.

Court : Allahabad

Reported in : AIR1965All37; [1965]57ITR749(All)

..... therefore, income chargeable under the head 'salaries' by implication will not be subjected to additional surcharge which came to be levied under the finance act of 1963 under section 2(a)(i) and (ii) for the first time. ..... question to be considered whether additional surcharge or additional tax which could have been levied under article 271 can be levied only on a particular class and not on the public in general, the argument is that in the finance act of 1963, which is the impugned provision, the salaried class of persons has been excluded from the application of the provisions for the levy of surcharge. ..... the relevant portion of section 2 sub-clause (2) of the finance act 1963, reads; '(2) in making any assessment for the assessment year commencing on the 1st day of april, ..... employees have always, at least since the income-tax act of 1922, been taxed on the basis' of the finance act current during the year when the salary is received and not on the basis of the finance act enacted after the year has come to a close. ..... the compulsory deposit scheme applies to a well defined class and the finance act of 1963 cannot be said to place any restriction on the free exercise of any profession, trade or occupation. ..... the charge of discrimination, therefore, cannot legitimately be levied against the finance act of 1963 in the matter of 'additional surcharge' as the classification is neither arbitrary nor capricious; it is a perfectly understandable, intelligible and reasonable classification. .....

Asramam Village Industrial Co-op. Society Ltd. Vs. Union of India (Uoi ...

Court : Kerala

Reported in : 1988(18)ECC69; 1988(17)LC691(Kerala); 1988(38)ELT14(Ker)

..... section 51, finance act, 1982 has given retrospective effect to the amendments of rules 9 and 49, yet it must be subject to the provisions of sec tion 11a of the act ..... the central excises act and the central excise rules, 1944, read with notifications referred in clause (b) of sub-section (1), shall be deemed to be, and to have always been, for all purposes, as validly and effectively taken or done as if the provisions of sub-section (1) had been in force at all material times and such action or thing had been taken or done under the central excises act and the central excise rules, 1944, read with the ..... was beyond the period of six months prescribed by section 11a of the central excises and salt act, 1944 and therefore without the authority of law, null ..... original petition is to the demand for excise duty under the central excises and salt act, 1944 (for short the act) for matches cleared by the petitioner during the period june 19,1980 to march 31,1981 ..... doubt that if one has to pay duty with retrospective effect from 1944, it would really cause great hardship but, in our opinion, in view of section 11a of the act, there is no cause for such apprehension.52. ..... 1982, which was issued in exercise of the powers conferred by sub-rule (1) of rule 8 of the central excise rules, 1944 to provide for certain exemptions from duty in rela tion to matches shall, subject to the modifications specified in the fourth schedule -(a) be deemed to have, and to have always had, effect on and from the 19th .....

Commissioner of Income-tax Vs. Continental Device India

Court : Delhi

Reported in : [2001]252ITR227(Delhi); [2001]118TAXMAN585(Delhi)

..... a bare reading of the provisions makes it clear that the deposit in lieu of payment of surcharge on income-tax under sub-section (6) of section 2 of the finance act is to be made by a company or the assessed at any time before the last installment of advance tax is due in its case and under subsection (8) of section 2 of the finance act, the deposit is to be made by the company or the assessed at any time during the financial year commencing on the 1st day of april, 1976 ..... 67,785 for the amount deposited in the idbi in lieu of surcharge in accordance with the provisions of section 2(6) and (8) of the finance act, 1976, although for the assessment year 1978-79 tax was to be paid in accordance with the provisions of the finance act, 1978, which did not provide for such concession ?'2. ..... (2) a deposit in lieu of payment of surcharge on income-tax under sub-section (8) of section 2 of the finance act, 1976 (66 of 1976), may be made by a company at any time during the financial year commencing on the 1st day of april, ..... -- (1) a deposit in lieu of payment of surcharge on income-tax under sub-section (6) of section 2 of the finance act, 1976 (66 of 1976), may be made by a company at any time before the last installment of advance tax is due in its ..... ') in lieu of the surcharge on income-tax in terms of section 2(6) and (8) of the finance act, 1976 (in short 'the finance act') read with the companies deposits (surcharge on income-tax) scheme, 1976 (in short 'the scheme'), dated august 28, .....

Charak Pharmaceuticals (i) Ltd Vs. Union of India and ors.

Court : Delhi

Reported in : 2000IIAD(Delhi)363; 2000(52)DRJ544; 2000(67)ECC749

..... we are, thereforee, of the considered view that the amount of differen- tial duty of rs.19,29,642/- was 'tax arrear' within the meaning of section 87(m)(ii)(b) of the finance act and the petitioner having fulfillled all other requisite conditions, the designated authority was not justified in directing the return of declaration on the aforestated ground. ..... samples on the value thereof on pro-rata basis on the assessable value of regular trade packs, which were being sold commercially with immediate effect was in fact in the nature of a show cause notice as postulated in section 87(m)(ii)(b) of the finance act in respect of all the clearance, including the period in question namely; from 1st september, 1995 to 31st january, 1998. ..... pending resolution of the stated dispute, all provisional assessments made under rule 9b of the central excise rules, 1944 in respect of all clearances between the period from 1st september, 1995 to 31st january, 1998 for which the petitioner had filed rt-12 returns, for whatever reason, were provisional for all intents and ..... also pleaded that pending appeal, a demand-cum-show cause notice dated 16th march, 1999 for recovery of rs.19,29,642/- along with interest and penalty under section 173-q of the central excise rules, 1944 has also been issued to the petitioner. 8. ..... the additional amount of duty demanded in terms of the said notices, the adjudicating authority also levied penalty on the petitioner under rule 173-q of the central excise rules, 1944. 6. .....

M/S South Eastern Coalfields Ltd Vs. Cce, Raipur

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

..... corrigendum to the notice was issued on 02-11-2004 pointing out the retrospective amendment made in finance act, 1994 by finance act 2003 and the prospective amendment in section 73 of finance act 1994 made by finance act 2004. ..... after the retrospective amendment by finance act 2000, the question arose whether this amendment was good enough to issue demands under section 73 of finance act, 1994 on persons who had not paid tax during the said period as per rule 2 (1) (d) ..... now the question arose whether this amendment was good enough to issue demands under section 73 of finance act, 1994 on persons who had not paid tax during the said period a per rule 2 (d) ..... section 73 was amended by finance act 2004, to replace section ..... the defect pointed out by the apex court in the case of laghu bharati udyog (supra), the parliament made retrospective amendment by section 117 of the finance act, 2000. ..... the defect pointed out by the apex court in the case of laghu bharati udyog (supra), the parliament made retrospective amendment by section 117 of the finance act, 2000. ..... section 73 of the finance act as it stood prior to the amendment made on 10-09-2004 to read as ..... the show cause notice in this case is issued after the retrospective amendment made by finance act, 2000 but before the amendment made by finance act, 2003 and 2004 in this matter which are also being mentioned in this order for sake of clarity on the issue and for the reason that corrigendum to the show cause notice was issued on 02-11- .....

Commissioner of Income-tax Vs. Travancore Minerals Ltd.

Court : Kerala

Reported in : [1981]130ITR631(Ker)

..... , or the 1st day of april, 1965, with reference to which 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 ..... the ito acting in exercise of the power conferred under section 148 of the act, reopened the assessment made against the company for the year 1966-67, on the ground that the distribution of dividend made by the assessee during the accounting year relevant to the said assessment year had been wrongly omitted to be subjected to tax as required under the finance acts, 1965 and ..... 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 that the dividend distributed was only 5%, ..... 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 1964-65 and 1965-66 is to be .....

Wealth-tax Officer Vs. Niranjan Narottam (individual)

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (1985)14ITD27(Ahd.)

..... section 27 has six sub-sections ; section 27(1) takes effect from 1-4-1977 ; section 1(2) has to be read with each section of the finance act insofar as different starting days have been provided for each amendment ; section 27(3)(a) does not indicate any date, so we have to go to section 1(2) giving the operation of the provision with effect from ..... section 27(3) of the finance act does not lay down any particular date of commencement of the provisions apart from what would be applicable under section 1(2).these provisions, however, do not affect the position of the applicability of the amendment to any particular year if the amendments themselves are regarded as procedural ..... section 7(4) as amended by section 27 of the finance act, is as under : (4) notwithstanding anything contained in sub-section (1), the value of a house belonging to the assessee and exclusively used by him for residential purposes throughout the period of twelve months immediately preceding the valuation date may, at the option of the assessee, be taken to ..... 202 of 5-7-1976, referring to section 27(3) of the finance act, it is mentioned that the amendment comes into force with effect from 1-4-1976 and will be applicable in relation to the assessment year 1976-77 and ..... question is whether for the purposes of the earlier assessments such as 1972-73, 1973-74 or 1975-76, the same value as that in 1971-72 should be adopted following section 7(4) or a valuation be made for each of these assessment years independently .....

Manisha Construction Vs. the Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

..... 8 of 2002 dated 27-8-2002 clarifying the scope and effect of the amendment made in section 158bb by the finance act, 2002 with retrospective effect from 1-7-1995 which has already been set out ..... therefore, after the amendment made by the finance act, 2002 with retrospective effect from 1-7-1995 in clause (c) of section 158bb(1), the claim of the assessee that the losses as determined on the basis of entries as recorded in the seized books of accounts of the assessee maintained in the normal course on or before the date of the search ..... the finance act, 2002, has amended the said clause (b) to include a specific reference to such returns filed in response to notices issued under section ..... 61.3.2 the finance act, 2002 has amended section 158bb to clarify that the block assessment of undisclosed income is to be based on the evidence found in the search and material or information gathered in post search inquiries made on the basis of evidence found ..... find that these decisions were rendered in the light of provisions contained in (i) main sub-section (1) of section 158bb providing for aggregation of total income of all the previous years falling within the block period to be computed in accordance with the provisions of chapter iv of the act as it then stood; (ii) the original clause (a) of explanation to main sub-section (1) of section 158bb, and (iii) clause (c) to section 158bb(1) as it stood prior to its substitution by the finance act, 2002 with retrospective effect from 1-7-1995. .....

Commr.of Income Tax-i,new Delhi Vs. Vatika Township P.Ltd.

Court : Supreme Court of India

..... learned counsel appearing for the assessees sagaciously contrasted the aforesaid stipulation while effecting amendment in section 113 of the act, with various other provisions not only in the same finance act but finance acts pertaining to other years where the legislature specifically provided such amendment to be either retrospective or clarificatory. ..... the position which prevailed before amending section 113 of the act was that some assessing officers were not levying any surcharge and others who had a view that surcharge is payable were adopting different dates for the application of a particular finance act, which resulted in different rates of surcharge in the assessment orders. ..... this circular has been issued after the passing of the finance act, 2002, by which amendment to section 113 was made. .....

Commissioner Of Central Excise Raipur Vs. M/s Sepco Electric Power Con ...

Court : Supreme Court of India

..... 4.1 it is vehemently submitted that considering the provisions which was prevailing before the amendment on 01.05.2006 on interpretation of section 65 (31) of the finance act, 1994 and considering the fact that the definition of consulting engineer has been subsequently amended from 01.05.2006 to specifically include such services of any body corporate or any other firm , the learned tribunal has not committed any error in holding that ..... section 65(31), post amendment 2005, reads as under: section 65(31) consulting engineer means any professionally qualified engineer or any body corporate or any other firm who, either directly or indirectly, renders any service, consultancy or technical assistance in any manner to a client in one or more disciplines of engineering6.2 before it is considered, the effect of the amendment incorporating the words any body corporate , post 2005, we have to consider whether the original definition of consulting engineer under the finance act ..... the case on behalf of the tcs that it was not liable to either recover or deposit any tax as it was not providing a taxable service within the meaning of section 65(41) of chapter v of the finance act, as amended from time to time. ..... the revenue has submitted that the issue involved in the present appeal relates to the scope of the definition of consulting engineer under section 65 (31) of the finance act, 1994, specifically as to whether a body corporate is covered within its sweep prior to the amendment in 2005. .....