Court : Rajasthan
Reported in : (1984)41CTR(Raj)21; [1984]149ITR487(Raj)
..... 31, 1953, which refers to the previous year relatable to the assessment year 1952-53. the proviso, as mentioned above, merely makes the provisions of section 2(3)(a) of the finance act applicable in the calculation of rebate or concession relating to dividend income or deemed dividend income. the president of the appellate tribunal has referred in his order ..... of the rebate allowable under the provisions of para. 6a of the concessions order and the rate at which such rebate is admissible to them.34. section 2(3)(a) of the finance act of each of the years 1952, 1953, 1954 and 1955 provided that in case the total income of an assesses included income from dividends, in ..... in h. m. esufali's case : [1973]90itr271(sc) and h.r. sri ramulu's case : [1977]2scr593 . in sun engineering works (p.) ltd. v. cit : [1978]111itr166(cal) the facts were like this. the assessee had submitted its returns for two assessment years showing losses. the ito held that the returns for both the assessment years .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)176CTR(Raj)177
..... chartered accountant in his professional capacity, in any manner.66. charge of services tax:(1) ......(2) .....(3) with effect from the date notified under section 88 of the finance act, 1997 (26 of 1997), there shall be levied a service-tax at the rate of five per cent of the value of the taxable services referred to ..... value of taxable service inter alia, referred to in sub-clause. (2) of clause (48) of section 65. sections 68 to 71 as originally enacted by the finance act, 1994, have also been substituted by the finance (no. 2) act, 1998. the substituted sections 68 to 70 are reproduced as under :'68. payment of service-tax(1) every person providing taxable ..... vide notification dated 7-10-1998. the liability has been made effective from 16-10-1998. further, in exercise of the powers conferred by section 93 of the finance act, 1994, the central government has exempted in the public interest the taxable services other than of auditing and accounting provided by a practising chartered .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1970Raj70; [1969]74ITR378(Raj); 1969()WLN83
..... of tax on income shall be increased for the purposes of levying the special surcharge on unearned income by 15 per cent under the provisions of section 2 (1) (a) of the finance act 1957 (act no. 2 of 1957). he urged that simply because the income-tax on the dividend income of the assessee is to be computed with reference ..... it is not disputed that in the case of the assessee paragraph a of the first schedule of the finance act, 1957 applies. under this provision of section 2 (1) (a) of the finance act which is made subject to sub-section (3) of that section, the assessee is entitled to claim that the income-tax on his dividend income should be calculated by applying ..... does not make any provision for the levy of special surcharge. as we are of opinion that the term 'income-tax' as used in sub-section (3) (a) of section 2 of the finance act, 1957, does not include the amount of surcharge for the union and also the amount of special surcharge as prescribed under the head 'surcharges on income .....
Tag this Judgment!Court : Rajasthan
Reported in : (1995)128CTR(Raj)325; [1996]217ITR799(Raj)
..... behind these provisions is to provide for a tax disincentive by denying deduction in respect of a statutory liability which is not paid in time. the finance act, 1987, inserted a proviso to section 43b to provide that any sum payable by way of tax or duty, etc., liability for which was incurred in the previous year will be allowed ..... realised the mistake and inserted the proviso for that reason alone.29. the object of insertion of the proviso by the finance act, 1987, was stated in the memorandum of the finance act that the object behind the proviso to section 43b is to provide for a tax disincentive for deduction in respect of statutory liability which is not paid in time ..... has actually paid it on or before the due date applicable to his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year. by the amendment by the finance act, 1989, in the second proviso the words 'during the previous year' have been deleted, as a result of which the .....
Tag this Judgment!Court : Rajasthan
Reported in : [2003]264ITR529(Raj); 2006[3]STR344; 2002WLC(Raj)UC708
..... a practising chartered accountant in his professional capacity, in any manner. 66. charge of service tax.--. . . (3) with effect from the date notified under section 88 of the finance act, 1997 (26 of 1997), there shall be levied a service tax at the rate of five per cent of the value of the taxable services referred to ..... of the taxable service, inter alia, referred to in sub-clause (s) of clause (48) of section 65. sections 68 to 71 as originally enacted by the finance act, 1994, have also been substituted by the finance (no. 2) act, 1998. the substituted sections 68 to 70 are reproduced as under : '68. payment of service-tax.--(1) every person providing ..... notification dated october 7, 1998. the liability has been made effective from october 16, 1998. further, in exercise of the powers conferred by section 93 of the finance act, 1994, the central government has exempted in the public interest the taxable services other than of auditing and accounting provided by a practising chartered .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2007(4)Raj2995
..... of this petition as no remedy is provided under the statute against the order of central government.9. learned counsel for the petitioner contends that section 93 of the finance act makes it abundantly clear that with the commencement of the finance act, 1994, particularly the provisions relating to levy of education cess and exemption attached with the excise duty payable under the central excise ..... withdrawing the claim to rebate on exports of goods manufactured by the petitioner relating to education cess payable under the finance act, 1994 which came into effect w.e.f. 9/7/2004 in terms of sections 91, 92 and 93 of the said act of 1994.3. the petitioner is engaged in the manufacture of yarn, gray fabrics and in getting man made .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]163ITR278(Raj)
..... shares so as to entitle the assessee to rebate under the provisions of the finance act, 1964, and the finance act, 1965, involves the interpretation of the provisions of the financial corporations act, in the light of the provisions contained in section 85 of the companies act, 1956. the said question was indeed a debatable question and in the light ..... in the said finance acts. nor. is it defined in the income-tax act. the provisions of the finance act, 1964, and the finance act, 1965, provide for rebate to a company and the term 'company' is defined in section 2(17) of the income-tax act. the aforesaid definition of 'company' as contained in section 2(17) of the act refers to an ..... to the dividends declared by the assessee, were mistakes apparent from the records within the meaning of section 154 of the income-tax act ?2. these questions relate to the assessment years 1964-65 and 1965-66.3. in the finance act, 1964, provision was made with regard to imposition of super-tax at the rate of 55 .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)194CTR(Raj)84
..... 9. it will be relevant to notice in brief the legislative history of the two explanations. when the chapter x1v-b consisting of sections 158b to 158bh was enacted and inserted in it act, 1961, by the finance act, 1995, w.e.f. 1st july, 1995, no explanations were enacted. neither any provision for exclusion of any period for any ..... reason in computing period of limitation provided under section 158be was made, nor any provision was made assigning meaning to term execution of authorisation. by finance act (no. 2) of 1996, an explanation, later on renumbered as expln. 1, was inserted in above form with ..... 60 days of the period requiring for completing the assessment. the proviso came into effect w.e.f. 1st june, 2002, on commencement of finance act, 2002 by which expln. 1 to section 158be was substituted in place of previous expln. 1. in this connection, the learned counsel also placed reliance on provisions of .....
Tag this Judgment!Court : Rajasthan
Reported in : 2008(229)ELT50(Raj)
..... the question as framed is required to be answered in the manner, that the learned tribunal was not right in coming to the conclusion, that under section 112(2)(b) of the finance act, interest can be levied, even where there is no adjudication of the show cause notices, which were pending decision, at the time of commencement of ..... of law, being as under:whether in the facts and circumstances of the case, the tribunal was right in coming to the conclusion that under section 112(2)(b) of the finance act, 2000 interest can be levied even without there being adjudication of show cause notice, which are pending decision at the time of commencement of the ..... 2005(180)elt3(sc) , wherein it was found, that inadvertently attention of the court was not drawn to provisions of section 112 of finance act, 2000. then, the provisions were quoted, and it was found, that sub-section (1) of section 112 shows, that no credit is admissible on any duty paid on high speed diesel oil at any time during the .....
Tag this Judgment!Court : Rajasthan
Reported in : 1995(2)WLN208
..... realised the mistake and inserted the proviso for that reason alone.18. the object of insertion of the proviso by the finance act, 1987 was stated in the memorandum of finance act that the object behind the proviso to section 43b is to provide for a tax dis-incentive for deduction in respect of statutory liability which is not paid in time ..... behind these provisions is to provide for a tax disincentive by denying deduction in respect of a statutory liability which is not paid in time. the finance act, 1987 inserted a proviso to section 43b to provide that any sumpayable by way of tax or duty ect. liability for which was incurred in the previous year will be allowed as ..... he has actually paid it on or before the due date applicable to his case for furnishing the return of income under sub-section (1) of section 139 in respect of previous year. by the amendment by finance act, 1989, in the second proviso the words' during the previous year' have been deleted as a result of which the deduction .....
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