Judgment Search Results Home > Cases Phrase: finance act 1976 section 27 amendment of act 27 of 1957 Page 7 of about 2,439 results (0.198 seconds)

Virtual Soft Systems Ltd. Vs. Commissioner of Income Tax, Delhi-i

Court : Supreme Court of India

Reported in : (2007)207CTR(SC)733; [2007]289ITR83(SC); JT2007(3)SC125; 2007(2)SCALE612; (2007)9SCC665

..... learned counsels appearing in different appeals filed by the assessee assailed the impugned judgment by contending that provisions of section 271(1)(c)(iii) prior to 1.4.1976 and after its amendment by the finance act, 1975 with effect from 1.4.1976, later provisions being applicable to the assessment year in question, being substantially the same, the high court in the impugned order erred in distinguishing prithipal singh's case (supra), and taking a view contrary to the ..... the provisions of section 271(1)(c)(iii) prior to 1.4.1976, and after its amendment by the finance act, 1975 with effect from 1.4.1976, later provisions being applicable to the assessment year in question, being substantially the same except that in place of the word 'income' in sub clause (iii) to sub clause (c) of section 271 prior to its amendment by finance act, 1975, the expression 'amount of tax sought to be evaded' have been ..... section 271(1)(c) and the subsequent amendments carried out in the said section with effect from 1.4.1976 (as amended by the taxation laws (amendment) act, 1975) and the amendment by finance act, 2002 (with effect from 1.4.2003) on the interpretation of which the entire controversy in the present appeal rests ..... of high courts to which reference has been made in the foregoing paragraph have taken the view that the judgment in the prithipal singh's case holds good in respect of section 271(1)(c) as it stood after the 1976 amendment and prior to its amendment by finance act, 2002. .....

Tata Sky Limited Vs. the State of Uttarakhand and ors.

Court : Uttaranchal

..... the aforesaid tax was levied through the finance act, 1998, whereby sections 65, 66 and 68 of the finance act, 1994 were sought to be substituted, and section 67 of the finance act, 1994 was sought to be amended ..... be levied a tax (hereinafter referred to as the service tax) at the rate of eight per cent of the value of the taxable services referred to in sub-clauses (a), (b), (c), (d), (e), (f), (g), (h), (i), (j), (k), (l), (m), (n), (o), (p), (q), (r), (s), (t) (u), (v), (w), (x), (y), (z), (za), (zb), (zc), (zd), (ze), (zf), (zg), (zh), (zi), (zj), (zk), (zl), (zm), (zn), (zo), (zp), (zq), (zr), (zs), (zt) (zu), (zv), (zw), (zx), (zy), (zz) and (zza) of clause (105) of section 65 and collected in such manner as may be prescribed.a perusal of the aforesaid provisions reveals, that under the finance act, 2001, service tax levied on service providers rendering broadcasting services were enhanced from five per cent to six per cent of the value of taxable service (i.e ..... . if a general expenditure tax act, like that of 1957, had been enacted, no challenge to its validity could have been raised because it incidentally levied the tax on expenditure incurred on ..... . state of madras : 1957 scr 399, the extent of trenching beyond the competence of the legislating body may be an element in determining whether the legislation is ..... . doud (1957) 354 us 457:in the utilities, tax and economic regulation cases, there are good reasons for judicial self-restraint if not judicial deference to legislative .....

P.C. Joshi, Indian Citizen, A practicing Advocate and Others Vs. Union ...

Court : Mumbai

..... within 14 days of completion of services, the provisions of section 77 of the finance act 1994 and the provisions of section 89 of the finance act 1994 as inserted by the finance act 2011 to the extent they require advocates to issue invoices at all, to issue invoices within 14 days of the completion of assistance, relating to levy of penalty under section 77 of the finance act 1994 for not issuing of invoices and prosecution provisions under section 89 of the finance act 1994 to the extent they relate to requirement of issuing invoice ..... petition under article 226 of the constitution of india, the petitioner, a practicing advocate prays for the following reliefs:- (a) declare the impugned provisions in section 65(105) (zzzzm) of the finance act, 1994 as inserted by the finance act, 2011 as null and void and ultra vires the constitution of india and/or section 66 of the finance act, 1994 and/or be pleased to strike down the said provisions as ultra vires, arbitrary and violative of articles 13, 14, 19(1)(g), 246, 265 and 268a ..... a writ in the nature of mandamus, or any other appropriate writ, order or direction, restraining the respondents themselves, by their servants, agents and subordinates from, directly or indirectly giving effect to or acting upon the impugned amendment or collecting service tax on the basis of section 65(105)(zzzzm) read with section 66 as substituted by finance act, 2011. ..... and others reported in (1976) 2 supreme court cases ..... reported in 1976(2) scc 291 the hon .....

Jodhana Real Estate Development Vs. Assistant Commissioner of Wealth

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)54TTJ(JP.)552

..... as the assessee was aggrieved by the order of the learned cwt(a) on the ground that he denied retrospective operation of the amendment made by finance act, 1988, as also on the ground that he sustained the enhancement in the values of certain properties, it gave rise to appeals before us which are numbered as wta nos ..... the learned cwt(a), after hearing the assessee as well as the ao, held that the amendment brought about by the finance act, 1988 was effective from 1st april, 1989 and hence the assessee could not claim any exemption for the assessment years under consideration ..... but the assessee was also of the opinion that the amendment carried out by finance act, 1988 exempting certain business assets from the levy of wealth-tax, was of a clarificatory nature and hence had retrospective ..... 40(3) of the finance act, 1983 was amended by finance act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business carried on by it, such assets shall not form part of the net wealth of the company for the purpose of levy ..... first issue to be decided, therefore, is whether the assessee company was liable for wealth-tax or not in the light of the amendment carried out by finance act, 1988.10. ..... these fresh appeals also the assessee has taken up the ground relating to the applicability of the amendment carried out by the finance act, 1988.9. ..... 7 has been held to be a machinery section and schedule iii referred to therein a procedural provision .....

Jodhan Real Estate Development Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)56ITD90(JP.)

..... however, by the time these assessments were completed, section 4(3) of the finance act, 1983 was amended by finance act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business carried on by it, such assets shall not form part of the net wealth of the company for the purpose of levy ..... can be no intendment about the applicability of substantive law when the date of its applicability has been specifically provided for section 87 of the finance act, 1988 specifically provides that the amendment will be with effect from 1-4-1989. ..... pandey contended that since the amendment was to remove the unintended hardship caused by section 40 of the finance act, 1983, it is of a clarificatory ..... as the assessee was aggrieved by the order of the learned cwt(a) on the ground that he denied retrospective operation of the amendment made by finance act, 1988, as also on the ground that he sustained the enhancement in the values of certain properties, it gave rise to appeals before us which are numbered as ..... the learned cwt(a), after hearing the assessee as well as the assessing officer, held that the amendment brought about by the finance act, 1988 was effective from 1-4-1989 and hence the assessee could not claim any exemption for the assessment years ..... but the assessee was also of the opinion that the amendment carried out by finance act, 1988 exempting certain business assets from the levy of wealth-tax, was of a clarificatory nature and hence had .....

Commissioner of Income-tax, Madras Vs. Sundaram Industries Private Ltd ...

Court : Chennai

Reported in : [1969]71ITR380(Mad)

..... 'in the instant case, while it is necessary to consider the scope of the retroactive operation of the amendment caused by the finance act of 1955 and 1956, it should also be remembered that section 23a is in the natural of a penal provision and necessarily the onus is on the revenue to prove that the ingredients of the section are satisfied before an order is made thereunder. ..... 'the finance act of 1956, which closely followed the above amendments, further amended section 23a of the main act so as to read in clause (b) of the proviso to sub-clause (1) stated above for the words 'where the reserves' the words 'where the accumulated profits and reserves'. ..... the distribution was so effected in accordance with the letter and procedure as was in force on the date of distribution which but for the supervening amendment of section 23a by the finance acts of 1955 and 1956, appears to be in order. ..... (2) whether the amendment made to section 23a by the finance act, 1956, could not be applied to the assessee company for the assessment year 1955-56 ? ..... 'by section 20(1) of the finance act of 1955, the amendment as above shall have effect on and from 1st april, 1955. ..... it is not seriously disputed by the learned counsel for the assessee that if the text of the amendments in the finance acts is applied to the company in question, then it has failed to satisfy the prescribed indicia therein as regards the percentage of distributable dividends. .....

Commissioner of Income-tax Vs. Calcutta Steel Co. Ltd.

Court : Kolkata

Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)

..... : [1977]107itr168(mad) , the question before the madras high court was whether under the provisions of section 2(5)(a) of the finance act, 1966, the cash subsidy and the income derived from the sale of import entitlements would form part of the profits and gains derived from the export of any goods or merchandise. ..... section 113 of the income-tax act, 1961, corresponded to section 17(1) of the indian income-tax act, 1922, but that section has now been omitted with effect from april 1, 1965, as a result of the finance act, 1965. ..... cit : [1982]137itr616(guj) , construed the provisions of section 2(5)(a) of the finance act, 1964, regarding the profits derived from exports and held that cash subsidy or allowance given on export of goods is directly connected with the export of goods and rebate under section 2(5) can be claimed in respect of it. ..... act, 1961, the tribunal has referred the following question to this court at the instance of the commissioner :'whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that there was no mistake apparent from the record with the meaning of section 154 of the income-tax act, 1961, and in that view cancelling the amendment order made by the income-tax officer under the said section ?'2. ..... it is a matter for consideration whether the definition contained in section 2(31) of the income-tax act, 1961, is an amendment of the law or is merely declaratory of the law that was in force earlier. .....

Futura Fibres and Futura Polymers Vs. Cce

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

..... in order to get over the supreme court's ruling, parliament amended section 65 ibid in relation to the limited period 16.07.1997 to 16.10.1998 under section 116 of the finance act, 2000, whereby recipients of `goods transport' service and `clearing and forwarding ..... 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 ..... 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 14.05.2003 (date on which the finance act, 2003 ..... or purported to have been 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 received 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 sections 65 and 66 of the finance act, 1994 by the hon'ble supreme court in the ..... counsel for the assessees has submitted that, as the subject show-cause notices were issued after 12/05/2000 (the date on which the finance act, 2000 received presidential assent), the demands of service tax raised therein are hit by the apex court's ruling in laghu udyog bharati ..... limitation prescribed under section 73 of the finance act, 1994. .....

K. Sunil Kini Vs. Income Tax Officer, Ward 2(2),

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2006)6SOT139(Bang.)

..... if the legislature had intended the relevant amendments effected by the finance act, 1997 to make non-compete fees chargeable to capital gains tax, then, when the finance act, 2002 made such receipts taxable under section 28, it would also have amended section 55(2)(b) to remove the words 'right to manufacture, produce or process any article or thing'. ..... on clause (va) of section 28 inserted into the statute book by finance act, 2002, with effect from 1-4-2003.the commissioner (appeals), in the first appeal, had accepted the assessee's claim that the receipt in question is a capital receipt.however, he was of the view that the receipt is liable to be taxed as capital gains in view of the amendment effected to section 55(2)(b) by finance act, 1997. ..... ', were inserted by the finance act, 2002 which are effective from 1-4-2003.it is the appellant's case that the amendment effected by the finance act, 1997 has no bearing on the assessment under consideration.firstly, section 55 is not a charging section. ..... taxed in view of amendment of clause (a) of sub-section (2) of section 55 effected by the finance act, 1997. ..... amendment effected by the finance act, 1997 has no bearing on the assessment under consideration and that section 55 is not a charging section ..... any right to manufacture, produce or process any article or thing.if there is any doubt in this regard, the matter becomes clear if one takes into account the amendments effected by the finance act, 2002 which are effective from 1-4-2003. .....

All India Haj Umrah Tour Organizer Association Mumbai Vs. Union Of Ind ...

Court : Supreme Court of India

..... clause 52 of section 65b of the finance act to mean the territory to which the provisions of the relevant chapter service tax statutory provisions containing sections 64 to 114 of the finance act apply. ..... to haj pilgrims is not a part of the negative list under section 66-b of the finance act, 1994, it is taxable from 1st july 2012.26. ..... by exercising the power under section 66c of the finance act, the 2012 rules were enacted and were brought into force ..... sub- section (1) of section 64 of the finance act provides that the relevant chapter extends to the whole of india except the ..... are concerned with the negative service tax regime, which was introduced with effect from 1st of july 2012 by incorporation of sections 66b and 66c by the finance act, 2012. ..... with effect from 1st july 2012, more than 100 specific services were incorporated in clause 105 of section 65 of the finance act. ..... 105 of section 65 of the finance act.34. ..... includes a non-resident external account and a non-resident ordinary account; (b) banking company shall have the same meaning as assigned to it under clause (a) of section 45a of the reserve bank of india act, 1934 (2 of 1934); (c) financial institution shall have the same meaning as assigned to it in clause (c) of section 45-i of the reserve bank of india act, 1934 (2 of 1934); (d) non-banking financial company means, (i) a financial institution which is a company; (ii) a non-banking institution which is a ..... by amending section 66-b, the percentage of ..... scc67576 1485 (1957)]. .....