Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: mumbai Page 8 of about 1,733 results (0.070 seconds)

Godrej Industries Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)8SOT417(Mum.)

..... was on account of tds only and this amount was paid voluntarily, being a good citizen of the country, as the approval was awaited from the ministry of finance. it was further submitted that for a moment, if the approval could not have been received then the assessee would have been found an assessee in default and ..... 15)(iv)(c), if the transaction is approved by the central government. during the period from december 1995 to february 1997, approvals had been granted by the ministry of finance after the respective due dates for payment of tax deducted at source. in the meantime, on the respective due dates, the assessee paid withholding tax before remitting the ..... tax by way of tax deducted at source by the payer on certain payments as provided for in chapter xvii of the income tax act. section 199 provides that any deduction made in accordance with the provisions of various sections in chapter xvii and paid to the central government shall be treated as payment of tax on behalf of the .....

Mohan T. Advani Finance (P) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... of this indivisible business would be deductible, the legislature has inserted section 14a by the finance act, 2001 with retrospective effect from 1st april, 1962, according to which, for the purpose of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to ..... be applied to the instant case. while taking a plea the assessee lost the sight of the provisions of section 14a which was introduced by the finance act, 2001 with retrospective effect from 1-4-1962. we have examined the aforesaid judgments of the apex court and the legislative intent of the introduction ..... , the learned departmental representative has invited our attention to the object of introduction of section 14a with the submission that section 14a have been inserted by the finance act, 2001 with retrospective effect from the 1st day of april, 1962 to nullify the decision of the supreme court in the case of rajasthan state warehousing corpn .....

The Commissioner of Income Tax Vs. Nima Specific Family Trust

Court : Mumbai

Reported in : 2001(2)ALLMR314; (2001)165CTR(Bom)518; [2001]248ITR29(Bom)

..... in mind that section 80-i was a dead section during the period 1.4.1973 upto 1.4.1981. section 80-i was brought back into the income tax act by finance act, 1980 with effect from 1.4.1981. under section 80-i, as inserted with effect from 1.4.1981, it was provided that where the gross total income ..... gross total income of the assessee. section 80-b(5) defines 'gross total income' to mean total income computed in accordance with the provisions of the act, before making any deductions under chapter vi-a. section 80-hh falls under heading c which deals with deductions in respect of certain incomes. section 80-hh comes under this category. it lays ..... shall have effect as if for the words 'fourth assessment year', the words, 'sixth assessment year' had been substituted.' 6. section 80-hh falls in chapter vi-a of the income tax act. chapter vi-a deals with deductions in respect of certain payments. section 80a lays down that in computing the total income of an assessee, there shall be allowed .....

Commissioner of Income Tax Vs. Emilio Ruiz Berdejo and ors.

Court : Mumbai

Reported in : (2010)228CTR(Bom)145

..... tax due on the returned income where such shortfall is on account of increase in the rate of surcharge under section 2 of the finance act, 2000 (10 of 2000), as amended by the taxation laws (amendment) act, 2000 (1 of 2001), and the assessee has paid the amount of shortfall, on or before the 15th day of march, ..... liability to pay interest as stated under section 201 is on the person who fails to deduct advance tax. as against this, if one turns to the chapter xvii of the act, it provides for chargeability of interest in certain cases. section 234a provides for payment of interest for defaults in furnishing return of income, whereas section 234b ..... of the total income of the assessee which would be chargeable to tax for the assessment year immediately following that financial year, such income being hereafter in this chapter referred to as current income209. computation of advance tax.--(1) the amount of advance tax payable by an assessee in the financial year shall, subject to the provisions .....

Vodafone India Services (P.) Ltd. Vs. Union of India

Court : Mumbai

..... 2002-03 as a part of chapter x of the act. the aim being to have well defined rules to tax transactions between aes and not left to the discretion of the a.o. and bring out uniformity in treatment to tax of international transaction between aes. the explanatory notes to the finance act, 2001 brings out the objectives ..... independent entities, uninfluenced by relationship. it did not replace the concept of income or expenditure as normally understood in the act for the purposes of chapter x of the act. the objective of chapter x of the act is certainly not to punish multinational enterprises and/or aes from doing business inter se. however, we are conscious of ..... provides that capital financing and re-structuring of business would be so; (iii) the issue whether any income has arisen and/or affected by the international transaction for purposes of chapter x of the act would be determined by the a.o. the jurisdiction exercised by tpo is only to determine the alp of international transactions .....

Vasant J. Sheth (Huf) Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1984)8ITD157(Mum.)

..... 80k and 80t. it was also pointed out by shri mehta that section 80ab of the act introduced by the finance (no. 2) act, 1980, with effect from 1-4-1981, laid down that any deduction required to be made under chapter via of the act, except under section 80m, shall be worked out with reference to the amount of the ..... to deduction under section 80m which is computed in accordance with the provisions of the act and not with reference to the gross amount of the dividends, section 80ab dealing with the other deductions under chapter via, inserted also by the finance (no. 2) act, 1980, is not retrospective but comes into effect from 1-4-1981. the assessment ..... year under appeal before us is 1977-78 and, therefore, the provisions of section 80ab, introduced by the finance (no. 2) act, 1980, with effect from 1-4-1981 .....

Bakulesh T. Shah Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)78TTJ(Mum.)358

..... which could never have been intended by the legislature.the intention of the legislature is evident from the letter dt. 7th nov., 1978 vide no. e. no. 275/118a/77-ii(b) of the dy. secretary, ministry of finance, government of india, addressed to the government of sikkim. the relevant portion of this letter reads as under : "though the ..... letter of dy. secretary to the ministry of finance, government of india, in which the ministry of finance has clarified that in view of article 371f(n) of the constitution, for the purpose of indian it act, 1961, sikkim will have to be treated as outside india. he submitted that the purpose of chapter ix is to allow relief against double taxation. ..... prevalent prior to the merger of sikkim with india is maintained. this has been made clear by the dy. secretary of the ministry of finance, new delhi in his letter dt. the 7th nov., 1978. in para 3 of his letter he has mentioned that for the purpose of income-tax 'sikkim has to be treated outside india'. once .....

J. Rajmohan Pillai Vs. State of Maharashtra and Y.S. Vaze, Dy. Commiss ...

Court : Mumbai

Reported in : 2004(2)MhLj323

..... of the said complaint and issued the process in context with provisions of section 276ab of the income tax act, 1961 and in the alternative for the offence under section 276a of the said act.3. section 276aa has been repealed by finance act, 1986 with effect from 1.10.1986. in view of that as submitted by shri marwadi, the ..... the offences which are indicated against the present petitioner are indicating a procedure which is to be followed by the learned magistrate for trying summons cases. section 251 embodied in chapter xx of code of criminal procedure, 1973 (hereinafter referred to as 'code' ) provides that when in a summons case the accused appears or is brought before the ..... under the duty of specifying the exact offence or offences for which such an accused is to be tried in view of the provisions of the sections embodied in chapter xx of the code. such an accused is not expected to meet all sort of vague allegations and shooting of arrows in darkness of the allegations of committing .....

Mr. Balmukund Acharya, Proprietor of Laxmi General Supply Company Vs. ...

Court : Mumbai

Reported in : 2009(111)BomLR462; (2009)221CTR(Bom)440; [2009]310ITR310(Bom); [2009]176TAXMAN316(Bom)

..... (1) or sub-section (1b) shall be deemed to be an order for the purposes of sections 246 and 264.24. the above explanation was omitted by the finance act of 1999 w.e.f. 1.6.1999. since the case in hand relates to the assessment year 1995-96, this explanation will be very much applicable.consideration:25. ..... when there is an ambiguity, obscurity, or inconsistency therein or otherwise. the basic principle of construction of statutes is that it should be read as a whole, then chapter by chapter, section by section and word by word. true meaning of a provision of law has to be determined on the basis of the clear language with due regard ..... aforesaid question of law, it is appropriate to first consider the relevant statutory provisions.19. chapter xx of the act deals with appeals and revision. section 246 deals with appealable orders. the aforesaid section 246 of the act was substituted by the direct tax laws (amendment) act, 1987 with effect from 1.4.1989, reading as under:246.(1) subject to .....

All India Federation of Tax Practitioners Vs. Union of India

Court : Mumbai

Reported in : [2001]116TAXMAN418(Bom)

..... finance act, 1997, section 65 was substituted so as to include a wide variety of services. section 116 of the finance act, 1998 substituted section 66 of the finance act, 1994. while a few services covered by the 1997 act were excluded from purview of the service ..... .4. brief legislative history is that the service tax was for the first time imposed by the finance act, 1994 pursuant to the report submitted by chelliah committee on tax reforms. the finance act, 1994 covered only three services, i.e., services provided by stock brokers, telegraphic authority and general insurer. chapter v thereof contains the scheme and provisions relating to the tax. by the .....