Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: authority for advance rulings Page 1 of about 40 results (0.136 seconds)

In Re: Sopropha S.A.

Court : Authority for Advance Rulings

Reported in : (2004)268ITR37AAR

..... be useful to refer to the observations in the report of the direct taxes administration enquiry committee in paragraphs 3.55, 3.56 and 3.58 of chapter iii, which read as under (see [1978] 115 itr 824, 834) : "3.55. definition of speculative transaction.--an important criticism made by a large number of witnesses who appeared before us, ..... central board of revenue had put too rigid and restrictive an interpretation on this provision, which is not in accord with the spirit of the assurance given by the finance minister. it does not, therefore, surprise us that the assessing officers have also taken an unduly narrow view in the matter and genuine businessmen have been put to ..... also be of the same quality/quantity of goods as are held in stock ?" 5. the applicant's learned counsel explained that section 43(5) of the income-tax act, 1961 (the act), and the central board of revenue (the board) circular no. 23d (f. no. 4(124) -- 60/tpl dated september 12, 1960) are relevant for understanding the .....

Google Online India Private Ltd. Vs. Commissioner of Service Tax

Court : Authority for Advance Rulings

Reported in : (2006)200CTRAAR245

..... connected with display or exhibition of an advertisement or actually displays/exhibits an advertisement on an internet website.1. in this application under section 96c(1) of chapter va of finance act, 1994 (for short "the act"), the applicant - m/s. google online india private limited - is a wholly owned subsidiary of m/s. google international llc (for short "google usa"), a foreign company ..... below mentioned heads of taxable services or as any other taxable service enumerated in chapter v of the finance act, 1994: 1. advertisement services (as defined under section 65(105)(zh)[sic] of chapter v of finance act, 1994). 2. computer network service (as defined under section 65(105)(zh) of chapter v of finance act, 1994). 3. business auxiliary service (as defined under section 65(105)(zzb) of .....

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Reported in : (1997)224ITR473AAR

..... rates. this is also made clear by section 2(3) of the relevant finance act (the act of 1995 is considered here but there is a similar provision in other finance acts as well) : " section 2(3). in cases to which the provisions of chapter xii or chapter xiia or sub-section (1a) of section 161 or section 164 or section ..... of any assessee who is directly assessed under section 4 of the act read with the provisions of the relevant finance act, the rates mentioned in section 112 in respect of capital gains will prevail over the rates prescribed under the finance act. this is so because chapter xii contains provisions for certain special cases and will prevail over the ..... rate prescribed under that section and the lower rates specified in section 112. section 2(3) of the finance act does not meet this situation. it does not solve the issue of priority as between a provision contained in chapter xii (section 112) and section 164 both of which are specifically mentioned in it. perhaps the correct .....

In Re: R and B Falcon (A) Pty Ltd.

Court : Authority for Advance Rulings

Reported in : (2007)289ITR369AAR

..... controversy in this case centres round the scope of fbt, it will be apposite to refer to the material provisions of the act. by the finance act, 2005 chapter xii-h which comprises of sections 115w to 115wl, was inserted in the act w.e.f. 1st april, 2006. 115wa. charge of fringe benefit tax - (1) in addition to the income ..... of 2005 on 29th aug., 2005 to clarify the scope of the charge of fbt and the provisions contained in the said chapter. para 1 of the circular which is introductory is in the following terms: the finance act, 2005 has introduced a new levy, namely, fringe benefit tax (hereafter referred to as fbt) on the value of certain ..... fringe benefits. the provisions relating to levy of this tax are contained in chapter xii-h (sections 115w to 115wl) of the it act, 1961. this circular seeks to provide a harmonious, purposive and contextual interpretation of the provisions of the finance act, 2005 relating to the fbt so as to further the objective of this levy.question .....

Harekrishna Developers (Through Vs. Commissioner of Service Tax

Court : Authority for Advance Rulings

..... be resolved by us by making reference to the salient features of the proposed activity as reflected in the draft agreement and the relevant provisions contained in chapter v of the finance act, 1994.7. section 66 which is the charging section ordains that the service tax shall be levied at the rate of 12% on the value of ..... service of construction of complex in case of proposed activity no. 1 3. whether the applicant is liable to service tax under section 65 (105) (zzzh) of the finance act, 1994 under the notified taxable service of construction of complex in case of proposed activity no. 2? 2. details about the proposed activities 1 & 2 have been ..... itself and said units in complex will be sold to third parties - whether the applicant is liable to service tax under section 65(105)(zzzh) of the finance act, 1994 under the notified taxable service of construction of complex held, the preamble of agreement shows that actual sale of land together with the constructed residential unit takes .....

Shams Tabrez Vanti Vs. C.i.T. Ghaziabad

Court : Authority for Advance Rulings

..... property; d. profits and gains of business or profession; e. capital gains; f. income from other sources. head-b under which interest on securities fell was omitted by finance act, 1988 w.e.f. 1.4.1989. now interest on securities is assessable under section 28(i) where such interest forms part of business profits; this would happen when ..... fall under the head income from other sources . it may be pointed out that section 10a is inappropriately referred to in the first question. section 10a falls in chapter iii which deals with income which do not form part of total income. it is a special provision in respect of newly established undertakings in free trade zone. it ..... is relied upon by the applicant to make out a case that interest income falls under section 10a but not in section 80hhc. section 80hhc is included in chapter via which deals with deductions in computing total income. like section 10a, the provisions of 80hhc provide deductions in the case of export business. it is unnecessary .....

In Re: Universities

Court : Authority for Advance Rulings

Reported in : (2005)194CTRAAR289

..... gains arising from the transfer of long-term capital assets. it needs to be mentioned here that the proviso to sub-section (1) of section 112 (inserted by the finance act, 1999 w.e.f. 1st april, 2000), extends the benefits of limiting the rate of tax to 10 per cent in respect of any income arising from the transfer ..... referred to in clause (a) or clause (b) of sub-section (1), the gross total income shall be reduced by the amount of such income and the deduction under chapter vi-a shall be allowed as if the gross total income as so reduced, were the gross total income of the foreign institutional investor. (3) nothing contained in the first ..... for a special method of computation (discussed above) and special rate of tax. there can be no doubt that the legislative intent in inserting section 115ad in chapter xii of the act, is an important guiding factor in interpreting the said provision. we proceed on the common ground that section 115ad which is meant for fii is a beneficial provision .....

Universities Superannuation Scheme Limited as Trustee of Universities ...

Court : Authority for Advance Rulings

..... arising from the transfer of long term capital assets. it needs to be mentioned here that the proviso to sub-section (1) of section 112 (inserted by the finance act 1999 w.e.f. 1.4.2000), extends the benefits of limiting the rate of tax to 10% in respect of any income arising from the transfer of a ..... a special method of computation (discussed above) and special rate of tax. there can be no doubt that the legislative intent in inserting section 115ad in chapter xii of the act, is an important guiding factor in interpreting the said provision. we proceed on the common ground that section 115ad which is meant for fii is a beneficial ..... the treaty. section 115 ad is a special provision in respect of tax on income of foreign institutional investors from securities or capital gains arising from their transfer in chapter xii which deals with determination of tax in certain special cases . section 115ad being a special provision will override the general provisions. there are several decisions of .....

Shri Kartar Singh Kochar S/O Late Vs. Commissioner, Service Tax

Court : Authority for Advance Rulings

Reported in : (2005)(103)ECC123

..... subsequently reframed. the revised three questions read as under : "i. under which classification i.e. (a) to (zzy) of sub-section 105 of section 65 of chapter v of the finance act, 1994 are supply of furniture, fixtures, lights and light fittings. pa system and other articles, without providing/supplying/erecting a pandal or shamiana are covered. ii. are ..... pandal and shamiana". the applicant has referred to clauses (a) to (zzy) of sub-section (105) of section 65 of chapter v of the finance act, 1994 as amended form time to time (in short, the act). on perusal of these clauses it appears to us that the only possible entry which may be considered in the context of the ..... . this communication, by no stretch of imagination, can be treated as an exemption notification which can be issued by the central government under section 93 of chapter-v of the act. the particular sub-para, namely, 11.4 in this letter which has been relied upon by the applicant is only in the form of a clarification .....

M/S. Sopropha S.A. Vs. Present for the Department Mr. S.M.J. Abidi, Ad ...

Court : Authority for Advance Rulings

..... and restrictive an interpretation on this provision, which is not in accord with the spirit of the assurances given by the finance minister. it does not, therefore, surprise us that the assessing officers have also taken an unduly narrow view in the ..... being interpreted and applied by the itos. the direct taxes administration enquiry committee have also made a few suggestions on this subject in chapter iii of their report. the board have carefully considered the points involved and their decisions thereon are given below : point 1 ..... the assessment year. this view has been upheld by gujarat high court in the case of pankaj oil mills vs. cit (1978) 115 itr 824. 9. director of international taxation, new delhi is the jurisdictional commissioner in this case. he is of the ..... goods as are held in stock? 5. the applicants learned counsel explained that section 43(5) of the income tax act, 1961 (the act) and central board of revenue (the board) circular no.23d (f.no.412/(4)60/tpl dated 12.9.1960 .....