Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Court: mumbai Page 3 of about 2,741 results (0.200 seconds)

The Director of Income Tax Vs. Shardaben Bhagubhai Mafatlal Public Cha ...

Court : Mumbai

Reported in : (2001)1BOMLR744; (2000)164CTR(Bom)97; 2001(2)MhLj695

..... object is kept in mind, it is clear that the assessee-trust ought to have disinvested the shares by 31st march, 1993. in fact the amendment to section (iia) by finance act, 1992 is expressly made applicable from 1st april, 1992. the reason is obvious viz. to give opportunity to public trusts to disinvest on/or before 31st march ..... or institution which cannot be disinvested by 31st march. 1992 can now be disinvested by 31st march, 1993. the above amendment by finance act, 1992 came into effect from 1st april, 1992. the object of section 13(1)(d) was to forfeit the exemption for contravention if the assessee-trust made impermissible investments. these assets were required to ..... not general circulars and that they should be ignored. ' they are in consonance with the act. in c.i.t. v. deoria public charitable trust. the facts were as follows. clause (d) of sub-section (1) of section 13 was substituted by finance act, 1983 with effect from 1.4.1983. the provisions of the new sub-clause were to .....

Commissioner of Wealth-tax, Bombay Vs. Standard Mills Co. Ltd.

Court : Mumbai

Reported in : [1963]50ITR267(Bom)

..... on the passing and the application of the annual finance act. thus, income is chargeable to tax independent of the passing of the finance act, but until the finance act is passed no tax can be actually levied. a comparison of section 3 and 6 of the act shows that the act recognises the distinction between chargeability and the actual operation of ..... not enacted on the 1st day of april of any year. in such a contingency this section gives continuity to the finance act of the preceding year and extends the life of the earlier finance act to the date of the passing of the finance act of the current year, giving benefit, however, to the assessee as to rates, which ..... would be favourable to him, that is, those under the finance act of the previous year or those provided in the proposed bill of the finance act of the current year, which is then pending before parliament. this section takes effect on 1st of april and not earlier. 38. facts in commissioner of income- .....

Commissioner of Excess Profits Tax, Bombay City-i, Bombay Vs. Tata Iro ...

Court : Mumbai

Reported in : [1978]115ITR538(Bom)

..... creation of a debt. in our view, therefore, the tribunal was right in rejecting the contention of the revenue that voluntary deposits made under s. 10 of the finance act, 1942, as well as compulsory deposits made under the ordinance of 1943, would be on par. on that account the aforesaid amount is clearly not deductible while arriving ..... computation made by the epto on the ground that voluntary deposits under the ordinance of 1943 were deductible as debts he held that the voluntary deposits made under the finance act, 1942, were also required to be treated as debts and, therefore, deductible. the matter was carried further by the assessee-company to the tribunal and it was ..... in relation to excess profits tax under section 2 of excess profits tax ordinance, 1943 (xvi of 1943).' it may be mentioned that the latter part commencing with the words 'and in particular there shall be deducted, etc.' have been added to r. 2(1) by s. 8 of the indian finance act, 1944. since the provisions of r. .....

Volkart Brothers and ors. Vs. Income-tax Officer, Companies Circle Iv( ...

Court : Mumbai

Reported in : [1967]65ITR179(Bom)

..... firm is a non-resident, income-tax must be charged at the maximum rate of 25 per cent. under the provisions of the finance acts. now, the answer to this, it appears to us, is that section 17(1) spoke of subjecting the non-resident person to the maximum rate at a time when the non-resident registered firm was not ..... liable to taxation. the section as it originally stood, therefore, could not have contemplated to bring within its ambit non-registered firms. the finance act, which, for the first time, levied a tax on the registered firm itself, made no distinction between registered resident ..... partners thereof, were taken over to their individual assessment and since both of them were non-residents, section 17(1) was applied to their individual assessments and the tax as levied was duly paid by them. 5. by the finance act of 1956 for the first time a provision was made for levying a tax on the registered firm .....

Elphinstone Spinning and Weaving Mills Co. Ltd. Vs. Commissioner of In ...

Court : Mumbai

Reported in : (1956)58BOMLR32; [1955]28ITR811(Bom)

..... income of the previous year and in prescribing a rate or rates applicable to the total income, which is all that section 2 of the indian finance act, 1951, purports to do in terms of the first schedule of that act, it cannot conceivably be held that the legislature intended to subject to tax anything other than the total income which alone ..... to be capable of a very simple answer and does not really require consideration of the provisions of the finance act at all. the indian income-tax act under section 3 makes total income of the previous year taxable to income-tax, and section 55 makes the same total income taxable to super-tax. what therefore attracts tax is the total income of ..... attract a so-called 'additional tax' is to be found in the first schedule, part i, to the indian finance act. the operative part of that act, in so far as the schedule is concerned, is to be found in section 2 which provides that for the year beginning on the 1st of april, 1951, income-tax shall be charged at .....

Sun Pharma Exports Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96TTJ(Mum.)415

..... .62. the validity of the impugned block assessment has been so far examined in this order in the light of the expanded definition of "undisclosed income" inserted under section 158b(b) by the finance act, 2002, with retrospective effect from 1st july, 1995, the second situation in which undisclosed income could be conceived on the falsity of claims made by the assessee towards ..... from 1st july, 1995. but for the retrospective effect, the enlarged definition of undisclosed income brought in by the finance act, 2002, will not apply to the present case. in the present case, the search was conducted on 7th dec, 1998.notice under section 158bc requiring the assessee to file its block return was issued on 16th june, 1999. the block return was .....

Maersk India Pvt. Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2008)10STR397

..... service tax on services provided in respect of export cargo in accordance with the specific exclusion from the definition of "cargo handling services.6. section 65(23) of chapter v of the finance act, 1994 (the act) defines the term "cargo handling" as under: cargo handling service means loading, unloading, packing or unpacking of cargo and includes cargo ..... short) for providing storage of export goods to m/s maersk logistic india pvt ltd (hereinafter referred to as mlog for short) is taxable under section 65(102) of the finance act, 1994; he confirmed demand of service tax made in the show cause notice to the extent of rs. 53,66,874/-; ordered mipl to pay ..... interest under section 75 of finance act, 1994 and also imposed penalty of equal amount under section 76 of finance act, 1994 for failure to pay service tax when it was due and also imposed penalty of equal amount under section 78 of finance act, 1994 because the charge of suppression is proved from 1 .....

Bharat Heavy Electrical Ltd. Vs. Commissioner of Central Excise Nagpur

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... 1/2006 dated 01/03/2006. these notifications are reproduced below: notification no. 15/2004-service tax in exercise of the powers conferred by sub-section (1) of section 93 of the finance act, 1994 (32 of 1994), the central government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable ..... , 2003]. notification no. 1/2006-s.t. dated 01/03/2006 in exercise of the powers conferred by sub-section (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 ..... provided are only completion and finishing services in relation to building or civil structure, referred to in sub-clause (c) of clause (25b) of section 65 of the finance act. explanation.- the gross amount charged shall include the value of goods and materials supplied or provided or used by the provider of the construction service for .....

Apr Packaging Limited Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2007)9STJ109CESTAT(Mum.)bai

..... 2000 in the show cause notice dated 13.5.2002 and 14.2.2003. such demands are not affected by the amendments made in section 65 of the finance act 2000 under section 116 of the finance act 2000 and consequently they are hit by the apex court ruling in laghu udyog bharati. furthermore, undisputedly demands raised by the department in ..... these cases are far beyond the period of limitation prescribed under section 73 of the finance act 1994. 5. because respondent did not issue any show cause notice withir the stipulated period. hence, there was no cause or occasion for the respondent ..... appellant for the period from 16.11.1997 to 1.6.1998 on the services of c&f except as provided under section 117 of finance act 2000. 9. it is submitted that section 73 of the finance act 1994, which lays down the mechanism for recovery of tax, was not amended to include category of persons which falls under .....

R. Piyarelall Import and Export Ltd., a Company Incorporated Under the ...

Court : Mumbai

Reported in : 2006(4)BomCR637; [2006(3)JCR181]; 2006(6)MhLj123

..... of india : (2003)181ctr(sc)1 ). as a proposition of law this cannot be and is not disputed. the question is whether by enacting sections 116 and 117 of the finance act, 2000 and section 158 of the finance act, 2003, the bases on which this court struck down rule 2(1)(d), (xii) and (xvii) of the service tax rules, 1994 had ..... the law itself, about whose legislative competence there can be no serious question.21. we may mention that we have dealt with the decision in madan mohan pathak : (1978)illj406sc at some length because we find that it is being frequently relied upon as laying down a principle at variance with shri prithvi cotton mills : [1971]79itr136(sc) ..... law. the undertaking given by the state is binding upon it. strong reliance is placed upon the decisions of this court in madan mohan pathak v. union of india : (1978)illj406sc and a.v. nachane v. union of india : (1982)illj110sc . it is not possible to agree. it must be remembered that our constitution recognises and incorporates .....