Judgment Search Results Home > Cases Phrase: finance act 1973 section 27 amendment of act 1 of 1944 Page 8 of about 1,135 results (0.089 seconds)

Mathurdas Govinddas Vs. G.N. Gadgil, Income-tax Officer, Special Inves ...

Court : Gujarat

Reported in : (1964)0GLR746; [1965]56ITR621(Guj)

..... any time notwithstanding the expiration of the period of eight years provided under the section as it stood prior to its amendment by the finance act, 1956, and also enacted section 4 in the following terms for validation of notices issued prior to the commencement of the amending act : 'no notice issued under clause (a) and sub-section (1) of section 34 of the principal act at any time before the commencement of this act and no assessment, reassessment or settlement made or other proceedings taken in consequence of such notice shall be called in ..... bombay high court apparently did not dispute the proposition that sub-section (1)(a) was a general provision and sub-section (1a) was a special provision but it sought to negative the applicability of the maxim generalia specialibus non derogant by saying that sub-section (1)(a) and sub-section (1a) did not operate together simultaneously over the escaped income of war years at any time either before the amendment by the finance act, 1956, or after and there was, therefore, no ..... notices were issued by the respendent on 31st january, 1962, and the question which, therefore, arises for consideration is whether after the amendment by the finance act, 1956, a notice can be issued under sub-section (1)(a) of section 34 for reopening an assessment for any of the assessment years covered by sub-section (1a) of section 34 when no notice for reopening such assessment was issued under sub-section (1a) of section 34 on or before 31st march, 1956. .....

Gujarat Ambuja Cements Ltd. and anr. Vs. Union of India (Uoi) and anr.

Court : Supreme Court of India

Reported in : AIR2005SC3020; (2005)4CompLJ440(SC); (2005)194CTR(SC)428; 2005(99)ECC377; 2005(182)ELT33(SC); [2005]274ITR194(SC); JT2005(Suppl3)SC389; (2005)4SCC214; 2006[3]STR608; 200

..... as is apparent from section 116 of the finance act, 2000, all the material portions of the two sections which were found to be incompatible with the service tax rules were themselves amended so that now in the body of the act by virtue of the amendment to the word 'assesses' in section 65(5) and the amendment to section 66(3), the liability to pay the tax is not on the person providing the taxable service but, as far as the service provided by clearing and forwarding agents and goods transport operators are concerned ..... as we read the decision in laghu udhyog bharati, the basis was the patent conflict between sections 65, 66 , 68(1) and 71 of the finance act, 1994 as amended in 1997 on the one hand and rules 2(1) (d) (xii) and (xvii) of the service tax rules 1994 on the other. ..... therefore subject to our decision on the question of the legislative competence of parliament to enact the law, and assuming the amendments in 2003 to be legal for the time being, we reject the submission of the writ petitioners that by the amendments brought about by sections 116 and 117 of the finance act 2000, the decision in laghu udhyog bharati has been legislatively overruled.24. ..... state of kerala : [1973]1scr356 ).b) where the encroachment is ostensibly ancillary but in truth beyond the competence of the enacting authority, the statute will be a colourable piece of legislation and constitutionally invalid (a.s. .....

The Commissioner of Income Tax Vs. Godaveri (Mannar) Sahakari Sakhar K ...

Court : Mumbai

Reported in : (2007)109BOMLR2273; (2007)212CTR(Bom)384; [2008]298ITR149(Bom)

..... which was made by the finance act of 1987 in section 43b inserting, inter alia, the first proviso was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee and which made the provision unworkable or unjust in a specific situation.it had been argued before the supreme court, that looking to the curative nature of the amendment made by the finance act of 1987, the proviso inserted by the amending finance act of 1987 should be given retrospective effect ..... and be read as forming part of section 43b from its inception ..... the first proviso was also amended by the finance act, 2003 with effect from 1st april, 2004 by omitting the following words:referred to in clause (a) or clause (c) or clause (d) or clause (e) or clause (f).the section as it stood before the finance act, 2003, treated payments in respect of tax, duty, cess or fee, payment made to an employee, as bonus or commission or services rendered as set out therein any sum payable by the assessee as interest on any loan or borrowing from any public .....

Commnr. of Income Tax, Jalandhar-i Vs. Shri Rajiv Bhatara

Court : Supreme Court of India

Reported in : (2009)222CTR(SC)209; [2009]310ITR105(SC); JT2009(4)SC39; 2009(3)SCALE16; (2009)13SCC315; [2009]178TAXMAN285(SC)

..... the amendment was incorporated on 1.6.2002 by inserting proviso to section 113 by finance act, 2002. ..... according to the assessee, prior to 1.6.2002, the position was ambiguous as it was not clear even to the department as to whether surcharge was leviable with reference to the rates provided for in finance act of the year in which the search was initiated or the year in which the search was concluded or the year in which the block assessment proceedings under section 158bc were initiated or the year in which block assessment order was passed. ..... to clear that doubt precisely, the proviso has been inserted in section 113 by which it is indicated that finance act of the year in which the search was initiated would apply. ..... though parliament was aware of rate of tax prescribed by section 113 and yet in the various finance acts, parliament has sought to levy surcharge on the tax in the case of block assessment. ..... reading section 2(1) of the finance act, 2001, it is clear that the term `income tax' as used in section 2(1) and proviso to section 2(3) of the said act did not include the amount of surcharge. ..... section 158bb is required to be read with section 4 of the act, then the relevant finance act of the year concerned would automatically stand attracted to the computation under chapter xiv-b. ..... section 4(1) prescribes the subject matter of the tax and the rate of that tax is prescribed by the legislature, either under the act as in the case of section 113 or vide the finance act.7. .....

Commissioner of Income-tax Vs. Best and Co. (P.) Ltd.

Court : Chennai

Reported in : [1979]119ITR830(Mad)

..... section 40(c) contained the following provisions before the amendment under the finance act of 1963 :' notwithstanding anything to the contrary in sections 30 to 39, the following amounts shall not be deducted in computing the income chargeable under the head profits and gains of business or ..... by the finance act of 1964, section 40(c)(iii) was amended so as to disallow any perquisites given to the employee in excess of twenty per cent, of the salary paid after 28th february, ..... made in the adjustment statement enclosed with the return might be deleted as, according to it, the provisions of section 40(c)(iii) of the act, introduced by the finance act of 1963, was applicable only for 1963-64 (assessment year) and not for the later years. ..... before the income-tax authorities and before the tribunal and what was accepted by the aac and the tribunal was that on the 1st of april, 1964, the new provision inserted by section 10 of the finance act of 1964 had come into force and it is only that provision that could be looked into. ..... point to be considered is whether there is anything in the language of section 40(c)(iii) which would indicate that the provision, as brought in by the finance act of 1963, continued to be in force up to 29th february, 1964. ..... provisions are understood in this manner, then it would be clear that section 40(c)(iii) would control the payment of the remuneration after 28th february, 1963, and before the new provision under the finance act of 1964 provided the contrary. .....

Jindal thermal Power Company Limited (Formerly Jindal Tracteble Power ...

Court : Karnataka

Reported in : (2006)203CTR(Kar)381; [2006]286ITR182(KAR); [2006]286ITR182(Karn)

..... counsel appearing for the parties, it would be appropriate to reproduce the provisions of section 115jb as it stood after amendment under finance act, 2000 and the provisions of the section as it stands after the amendment by finance act, 2002 and the same are as follows:section 115jb as it stands now following the amendment by means of finance act, 2002 with retrospective effect from 1.4.2001:1) notwithstanding anything contained in any other provisions of this act, where in the case of an assessee, being a company, the income-tax, ..... was required to pay advance tax and non-payment of advance tax would make the petitioner liable to pay interest and the amendment of the section of by finance act, 2002 is only clarificatory and the circular had already been issued by the revenue clarifying the position that after the amendment of section 115jb by finance act, 2000 the petitioner was liable to pay advance tax in advance and wherefore the retrospective operation would not be in any ..... submitted that when the provisions contained in section 115jb as amended by amendment act, 2000 and amendment act, 2002 is compared, it is clear that it is only by virtue of the amendment made to the section by amendment act, 2002 that the book profit is treated as total income and the liability to pay advance tax would arise and but for the retrospective operation of the provisions of the amendment by finance act, 2002 there was no liability to pay interest under sections 234-b and 234-c and when .....

The Commissioner of Income-tax, Bombay City Vs. the Khatau Makanji Spi ...

Court : Supreme Court of India

Reported in : AIR1960SC1022; (1961)63BOMLR218; [1960]40ITR189(SC); [1960]3SCR873

..... opinion, the provision of the finance act travels beyond the ambit of section 3, and if parliament has done so then no effective charge can be made on the total income of the previous year of the assessee under the provisions of the finance act which deals with additional tax on ..... questions into one, and it reads : 'whether additional income-tax has been legally charged under clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act, 1951, as applied to the assessment year 1953-54 by the indian finance act, 1953, read with section 3 of the indian income-tax act ? ..... payment within the territory of india excluding the state of jammu and kashmir, of the dividends payable out of such profits, and has deducted super-tax from the dividends in accordance with the provisions of sub-section (3d) or (3e) of section 18 of the act - (i) where the total income, as reduced by seven annas in the rupee and by the amount, if any, exempt from income-tax, exceeds the amount of any dividends (including dividends payable at ..... (ii) such portion of the excess dividend as is deemed to be out of the undistributed profits of each of the said years shall be deemed to have borne tax, - (a) if an order has been made under sub-section (1) of section 23a of the income-tax act, in respect of the undistributed profits of that year, at the rate of five annas in the rupee, and (b) in respect of any other year, at the rate applicable to the total income of the company for that .....

G.D. Builders Vs. Uoi and anr.

Court : Delhi

..... public interest so to do, hereby exempts the taxable service of the description specified in column (3) of the table below and specified in the relevant subclauses of clause (105) of section 65 of the finance act, specified in the corresponding entry in column (2) of the said table, from so much of the service tax leviable thereon under section 66 of the said finance act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (5) of the said table, of the gross amount ..... reads as follows: in exercise of the powers conferred by subsection (1) of section 93 of the finance act, 1994 (32 of 1994) (hereinafter referred to as the finance act), the central government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service provided to any person by any other person, in relation to construction of complex, referred to in sub-clause (zzzh) of clause (105) of section 65 of the finance act, from so much of the service tax leviable thereon under section 66 of the said finance act, as is in excess of the service tax calculated on a value ..... the said section has undergone further amendments from time to time and prior to its reenactment with effect from 18th april, 2006 vide finance act 2006. .....

Commissioner of Income Tax Kolkata-iii Vs. Alom Extrusions Limited

Court : Supreme Court of India

Reported in : (2009)227CTR(SC)417; [2009]319ITR306(SC); JT2009(14)SC441; 2009(14)SCALE163; (2010)1SCC489; [2009]185TAXMAN416(SC)

..... prior to the amendment of section 43b of the act, vide finance act, 2003, the two provisos to section 43b of the act read as under:provided that nothing contained in this section shall apply in relation to any sum referred to in clause (a) or clause (c) or clause (d) or clause (e) or clause (f), which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum ..... we quote hereinbelow the first proviso to section 43b of the act after its amendment by finance act, 2003, which reads as under:provided that nothing contained in this section shall apply in relation to any sum which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of ..... however, the second proviso stood further amended vide finance act, 1989, with effect from 1st april, 1989, which reads as under:provided further that no deduction shall, in respect of any sum referred to in clause (b), be allowed unless such sum has actually been paid in cash or by issue of a cheque or draft or by any other mode on or before the due date as defined in the explanation below clause (va) of sub-section (1) of section 36, and where such payment has been made .....

Cce Vs. Sree Vaidvambigai Textile Mills

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

Reported in : (2005)(120)LC193Tri(Chennai)

..... in order to get over the supreme court's ruling, parliament amended section 65 ibid in relation to the limited period 16.7.1997 to 16.10.1998 under section 116 of the finance act, 2000, whereby recipients of 'goods transport' service and 'clearing and forwarding' service were defined as ..... such demands are not affected by the amendments made to section 65 by parliament under section 116 of the finance act, 2000 and consequently they are hit by the apex court's ruling in laghu udyog bharati ..... later on, the finance act, 2003, made certain amendments to the service tax provisions of the finance act, 1994, whereby the aforesaid assessees were required to present tax returns to the proper officer within six months from 15.5.2003 (date on which the finance act, 2003 received presidential assent ..... action taken or anything done or purported to have been (i) taken or done at any time during the period commencing on and from the 16th day of july 1997 and ending with the day, the finance act, 2000 receives the assent of the president shall be deemed to be valid and always to have been valid for all purposes, as validly and effectively taken or done" vide ..... but these rules were held to be ultra vires, section 65 and 66 of the finance act, 1994 by the hon'ble supreme court in the case of laghu udyog bharati ..... , the demands raised by the department, in these cases, are far beyond the period of limitation prescribed under section 73 of the finance act, 1994.gujarat carbon & industries ltd. v. .....