Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Court: mumbai Page 11 of about 2,741 results (0.146 seconds)

The Commissioner of Income Tax-24 Vs. Knr Patel (Jv)

Court : Mumbai

..... of its decision proceeded on the basis that the revisional jurisdiction had been exercised by the cit only on the basis of the explanation inserted into section 80ia(13) by the finance act of 2007. that ex-facie is not a correct reading of the order passed by cit. the tribunal referred to the orders of its jaipur ..... v. dcit : (2005) 94 itd 411 (mum). however, the decision in patel engineering was distinguishable on facts; (iv) in any event, the retrospective amendment to section 80ia(4) by finance act of 2007 would lead to the conclusion that the order passed by the assessing officer was erroneous. the cit has adverted to the provisions of ..... the itat. the tribunal in paragraph 3 of its order, proceeded on the basis that the revisional jurisdiction under section 263 has been exercised by the cit in view of the explanation inserted into section 80ia by the finance act of 2007 with retrospective effect from 1st april, 2000. the tribunal observed that but for the explanation, there is .....

Ms. Mina Fusade, Legal Heir of the Late Prince Sayajirao Gaekwar Vs. M ...

Court : Mumbai

Reported in : (2005)107BOMLR1160; (2006)201CTR(Bom)207; [2006]285ITR229(Bom)

..... monaco in the south of france.4. the respondent no. 1 is the commissioner of income-tax, who is the designated authority under section 87(b)(i) of the finance (no. 2) act, 1998 ('finance act' for short), vide order-cum-intimation dated 10th march, 1999 rejected the applications-cum-declarations made by the petitioner under kvs scheme enacted ..... 21st and 22nd january, 1999. the petitioner's chartered accountant, therefore, requested respondent no. 1 to issue certificate in favour of the petitioner under section 90(1) of the finance act with respect to declarations made on 28th january, 1999 under the kvs scheme for the assessment years in question. the aforesaid submission made on behalf ..... under chapter-iv of the finance act. the deceased had suffered best assessments under the act, inter alia; for assessment years 1969-70 to 1978-79; 1981-82; and 1984-85 to 1986-87 along with penalties, inter alia; under sections 18(1)(a); 18(1)(b) and 18(1)(c) of .....

Commissioner of Income-tax Vs. Boots Company (i.) Limited

Court : Mumbai

Reported in : (1994)120CTR(Bom)85; [1995]214ITR175(Bom)

..... to the amount of income-tax computed in accordance with the provisions of paragraph e of part i of the first schedule to the finance act, 1976.9. clause (8) of section 2 of the finance act, 1976, however, relieves a company from the levy of surcharge if it makes a deposit with the idbi, of a sum equal ..... surcharge on income-tax was levied on the assessee in view of the fact that the assessee availed of the option given to it under sub-section (8) of section 2 of the finance act, 1976, and deposited the amount with the industrial development bank of india ('idbi') as contemplated therein in lieu of surcharge. the assessee claimed deduction ..... deal with the other submissions of learned counsel for the assessee based onthe principles of reasonable and beneficial interpretation. it was urged before us that :(i) section 2(8) of the finance act, 1976, creates a legal fiction which should be carried to its logical conclusion ; (ii) the interpretation placed by the assessee is reasonable and in .....

Commissioner of Income-tax Vs. London Star Diamond Co. (i) Ltd.

Court : Mumbai

Reported in : [1995]213ITR517(Bom)

..... of the clear opinion that the assessee is engaged in the business of processing of goods within the meaning of sub-clause (c) of clause (8) of section 2 of the finance act, 1975. 11. in the instant case, we are, however, not in a position to ascertain and hold whether the assessee fulfils the requirement of the ..... is conspicuous by its absence in the above definition. as against this, the expression used in the definition of 'industrial company' in clause (c) of section 2(8) of the finance act, 1975, is 'engaged in the manufacture or processing of goods'. the use of different expressions by the legislature in the definition of the same expression for different ..... facts and in the circumstances of the case, the tribunal was right in law in holding that the assessee was an industrial company within the meaning of section 2(8) of the finance act, 1975 ?' 2. this reference pertains to the assessment year 1975-76. the assessee is a limited company which deals in diamonds. its main activities .....

In Re: Trikamlal Maneklal and anr.

Court : Mumbai

Reported in : AIR1958Bom351; (1958)60BOMLR63; ILR1958Bom694

..... assessed on 14-2-1940 to income-tax for the accounting year 1938-39. the governor of bihar enacted regulation i of 1941 which declared inter alia that the indian finance act, 1940, should be deemed to have come into force in the area on 6-4-1940. this regulation received the assent of the governor-general on 13-6-1941. ..... appeal on 12-1-1954 and no application having been made within sixty days from the date oh which the order was made, by the operation of sub-section (6) of section 33 that order became final and that finality of the order is not liable to be challenged merely because the tribunal at a subsequent stage of the remand proceedings ..... the quantum of interest to be allowed was not contested but it was pleaded that deduction of interest claimed by the assessee could not be allowed under section 12(2) of the income-tax act. that argument was founded on a decision of this court in bai bhuriben lallubhai v. commissioner of income-tax, bombay north : air1956bom41 (a). the tribunal .....

C.K.P. Mandal Vs. the Commissioner of Central Excise

Court : Mumbai

Reported in : 2006(4)BomCR747; (2006)204CTR(Bom)274; 2006(4)MhLj669; 2006[4]STR183

..... and decoration to the hirer of the appellant's hall (mandap) for official, social and business functions is chargeable to service tax within the meaning of section 65(90)(m) of the finance act, 1994? (ii) whether in the facts and circumstances of the case, the customs, excise and service tax appellate tribunal was right in law in ..... holding that the appellant was rendering catering/decoration services within the meaning of section 65(90)(m) of the finance act, 1994? 2. the senior counsel for the parties agreed that the appeal may be heard and disposed of on the aforesaid two questions at ..... india and ors. : [2004]267itr9(sc) . the madras high court dismissed the writ petition filed by the appellant-association challenging the constitutional validity of sections 66 and 67(o) of the finance act, 1994 and rule 2(1)(d)(ix) of the service tax rules, 1994. the supreme court upheld the judgment of the madras high court. 20. .....

The Commissioner of Income Tax-16 Vs. M/s Happy Home Enterprises and A ...

Court : Mumbai

..... of losses pertaining to certain assessment years ending with the assessment year 1943-44 where the period for carrying forward was shorter. section 16 of the finance act, 1955, amended s.24(2), and as a result of the amendment s. 24(2)(iii) provided that a business loss which was not wholly ..... by this amendment, the date of completion was changed from 31st march, 2001 to 31st march, 2003. everything else remained untouched. 18. thereafter, by finance act, 2003 further amendments were made to section 80-ib(10) and read as under:- (10) the amount of profits in case of an undertaking developing and building housing projects approved before the 31st ..... the vested right which had accrued to him. negating this contention of vested right, the supreme court held as under:- section 24(2) has suffered amendment a number of times. prior to its amendment by the finance act, 1955, it permitted a business loss to be carried forward for not more than six years, except in the case .....

M/S.Malaysian Airlines. M/S.Saudi Arabian Airlines. and ors Vs. the Un ...

Court : Mumbai

..... union of india, 2007 (214) elt 278 (bom); wherein division bench of this court upheld the minimum penalty imposed upon the carrier/airlines under section 38(3) of the finance act. that in these cases, admittedly, the carrier/airlines had failed to make payment of ftt collected within the specified period, as such imposition of minimum ..... ftt. on 2nd september, 2002, a showcause notice was issued to the petitioner proposing to levy interest of rs.5,273/ under section 35a and penalty under section 38(3) of the finance act. they replied the same vide their reply dated 16th september, 2002 and explained the reasons for delayed payment. the deputy commissioner of customs ..... show cause why the ftt short/late paid by them should not be recovered from them and why penalty should not be imposed on them under section 38 of the finance act. the petitioner by their reply dated 22nd july, 1998, replied said showcausenotices, inter alia; submitting that on account inordinate delay in issuing the notices .....

Vita Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : (1995)123CTR(Bom)256; [1995]211ITR557(Bom)

..... by the assessee. 9. in that view of the matter, the assessee-company cannot be held to be an industrial company with the meaning of section 2(8) (c) of the finance act, 1975. the authorities below, including the tribunal, were, therefore, justified in holding that the assessee was not an industrial company. accordingly, we ..... from letting out the factory to bombay forgings pvt. ltd., it should be still deemed to be an 'industrial undertaking' within the meaning of section 2(8) (c) of the finance act, 1975. according to the assessee, it continued its business of manufacturing goods in the year under consideration through the instrumentality of the lessee, bombay ..... that the assessee-company was not engaged in the business of manufacturing of goods within the meaning of the definition of an industrial company under section 2(8) (c) of the finance act, 1975 ?' 2. the assessee is a private limited company. this reference pertains to the assessment year 1975-76, the corresponding previous year .....

Commissioner of Central Excise Vs. Linde-kca-dresden Gbh

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2007)9STJ112CESTAT(Mum.)bai

..... of the central government within seventy five days from the end of the month in which the service was rendered. however, section 68 had been amended significantly by finance act 1998. section 68 as substituted by finance (no. 2) act 1998 (w.e.f. 16.10.98) read as under: (1) every person providing taxable service to any person ..... payment made: the assessee has to pay service tax. in this regard it is important to mention that section 68 of chapter v of finance act 1994 deals with payment of service tax. prior to finance act 1998 this section read as under: (1) every person providing taxable services to any person shall collect the service tax at ..... the rate specified in section 66. (1a) notwithstanding anything contained in sub-section (1) of section 68. in respect of the taxable service referred to in items (g) to .....