Judgment Search Results Home > Cases Phrase: finance act 1981 section 9 amendment of section 80d Court: kerala Page 12 of about 119 results (0.048 seconds)

Commissioner of Wealth-tax Vs. M.K. Abdul Khader Haji (Decd.)

Court : Kerala

Reported in : [2000]242ITR728(Ker)

..... the addition of the expression 'within one year immediately preceding the date of his return and at any time thereafter' and explanation 2 which were simultaneously inserted - by the finance act, 1986 (act 23 of 1986 (see [1986] 159 itr 17), with effect from april 1, 1987, and april 1, 1977, respectively, the position appears to be in line with the ..... explanation 2 to section 5(l){xxxiii) {which has been inserted by the finance act, 1986, with retrospective effect from april 1, 1977) clarifies that moneys standing to the credit of an eligible assessee in a non-resident {external) account in any bank in india in accordance with the foreign exchange regulation act, 1973, and any rules made thereunder, on the date of his return to india, shall be deemed to be moneys brought by ..... section 5(l)(xxxiii), newly inserted by the finance act, 1976, with effect from april 1, 1977, grants exemption, for and from the assessment year 1977-78, to an assessee, being a person of indian origin {as defined in explanation 1} or a citizen of india, who ..... learned counsel for the assessee submitted that the amendment brought in by the finance bill of 1986 (see : [1986]158itr1(patna) ), which operates with effect from april 1, 1987, ..... this amendment was operative retrospectively from april 1, 1977 and relatable to the assessment ..... by the amendment, in the opening paragraph, after the words 'out of such moneys', the words 'within one year immediately preceding the date of his return and at any time thereafter' .....

Federal Bank Ltd. Vs. State of Kerala

Court : Kerala

Reported in : I(2004)BC378; 2003(2)KLT347; [2003]45SCL555(Ker); [2004]134STC377(Ker)

..... further submitted that though the definition of dealer in section 2(viii) of the act is amended by the finance act, 1998 by introducing a new sub-clause(g) bringing the banks and financial institutions which effects sale of any gold or other valuable articles pledged with them to secure any loan for realisation of such loan amount within the definition of dealer, in the absence of corresponding amendments to the definition of 'business' and 'sale' in the act, legislature could not achieve the purpose for ..... the definition of 'dealer' in section 2(viii) of the act was amended by the kerala finance act, 1998 by which a new clause, clause (g) was added whereby a bank or a financing institution which, whether in the course of its business or not, sells any gold or other valuable article pledged with it to secure any loan for the realisation of such loan amount was added. ..... thus, it can be seen that the challenge made to the amended provisions of the definition of 'dealer' in section 2(viii) of the act by the finance act, 1998 was repelled by this court.15. ..... now the definition of 'dealer' in section 2(viii) has been amended by finance act, 1998 under which a bank or a financial institution which, whether in the course of its business or not, sells any gold or other valuable article pledged with it to secure any loan, for the realisation of such loan amount .....

Suma Devi Vs. State of Kerala

Court : Kerala

Reported in : 2005(2)KLT870; [2005]142STC170(Ker)

..... 60,000/- state government later introduced supplementary finance act during november 2001 amending the provisions of section 7(1)(b) of the kerala general sales tax act, which reads as follows:in section7, sub-section (1)(a) xx xx xx(b) xx xx xx(c) in clause (b), --(i) in item (i) for the letters and figures 'rs. ..... constitutional validity of the amendments effected to section 7(1)(b) of the kerala general sales tax act, 1963 by sections 1 and 6(c) of the kerala finance act, 2001 (act 7 of 2001) is under challenge in these cases. ..... further they contend that the retrospective operation of the amended provisions effective from 23.7.2001 as per section 1 of the finance act, 2001 is a colourable exercise of power. ..... consequently as per the kerala finance act, (act 7 of 2001) section 7(1)(b) was introduced which reads as follows:7. ..... petitioners submit that sections 1 and 6(c) of the kerala finance act, 2001 (act 7 of 2001) is unconstitutional and violative of article 265 of the constitution of india and the unreasonable levy of compound tax on the persons engaging in metal crusher operations is contrary to articles 14 and 19(1)(g) of the constitution of india. ..... having opted under section 7(1)(b) they are bound by the explanation contained in the finance act. ..... petitioners attacked the amendment effected to the explanation to section 7(1)(b) of the act stating that it is violative of article 265 of the constitution.6. .....

Kerala Classified Hotels and Resorts Ass Vs. Union of India

Court : Kerala

..... the aforesaid findings, these writ petitions are allowed as follows: i) it is declared that sub clauses (zzzzv) and (zzzzw) to clause 105 of section 65 of the finance act 1994 as amended by the finance act 2011 is beyond the legislative competence of the parliament as the sub clauses are covered by entry 54 and entry 62 respectively of list ii of w.p.c.. ..... dated this the 3rd day of july 2013 judgment the petitioners in the above writ petitions are challenging the validity of sub clause (zzzzv) and (zzzzw) of clause 105 of section 65 of the finance act, 1994 and section 66 of the finance act, 1994 as amended by the finance act 2011 relating to levy of service tax on taxable services referred there and for consequential reliefs. ..... as stated above, what is challenged in this case is the service tax imposed by section 66 of the finance act, 1994 (as amended) on the value of taxable services referred to in section 65(105)(zm) read with section 65(12) of the said act, insofar as it relates to financial leasing services including equipment leasing and hire purchase as beyond the legislative competence ..... section 65(105)(zm) of the finance act, 1994 (as amended ..... thus, we find from the statement of objects and reasons that the concept of "deemed sale" is brought in by the constitution (forty- sixth amendment) act only in the context of imposition of sales tax and that the words "transfer, delivery or supply" of goods is referred to in the second limb of article 366 (29-a) to broaden the tax .....

Kemlogic Lab Care Pvt.Ltd. Vs. State of Kerala

Court : Kerala

..... ibe 11/or11/ 10.11 dated 4 h march 201 exhibit p2 true copy of the finance bill dated 1 7/2006 exhibit p3 true copy of the relevant extract of the finance act 200.published in the kerala gazette no.12302/leg.a2/2006/law extra oprdinary dated 24 10/2006 exhibit p4 true copy of the relevant extract of kerala gazette no.6790/leg.a2/2012/law dated 28 7/2012 exhibit p5 true copy of ..... ------------------------------- w.p (c) no.17458 of 2013 ------------------------------- dated this the 18th day of july, 2013 judgment the petitioner claims the benefit of the kerala finance act, 2012 in regard to the rate of tax of machinery for photography. ..... the representation shall be dealt with taking note of the kerala finance act, 2012 (ext.p4). .....

P. Muraleedharan Vs. Union of India and Others

Court : Kerala

..... standing counsel appearing for the respondents submitted that the very purpose of the amendment which is by way of introduction to explanation to section 65(19)(ii) by finance act, 2008, with effect from 16.5.2008 is to get over the judgment of the supreme court in martin lottery agencies case and so much so, the contention of the petitioners that martin lottery agencies case still ..... this judgment, the contention advanced by the petitioners is that lottery being actionable claim answers the description of goods under section 2(7) of the sale of goods act and section 65(50) of the finance act, 1994 and so much so, service tax, if any, payable in relation to the same can be and has to be considered only as business auxiliary service falling under sub-clause (i) of sub-section (19) of section 65 of the act. ..... already taken note of the fact that for the same transaction of marketing lottery petitioners and others have started remitting service tax at compounded rate under the amended provisions of the finance act, 1994 with effect from 1.7.2010. ..... before examining the constitutional validity of the explanation to section 65(19)(ii) introduced by finance act, 2008 with effect from 16/05/2008, we have to refer to the back ground of ..... whether the explanation introduced to section 65(19)(ii) read with section 65(105)(zzb) of the finance act 1994 providing for levy of tax on service rendered in relation to lotteries promoted or marketed by the clients is unconstitutional as claimed by .....

Dr. V.P. Gopinathan Vs. Commissioner of Wealth-tax

Court : Kerala

Reported in : [1996]221ITR401(Ker)

..... learned senior tax counsel urged, firstly, on the basis of the following words, 'within one year immediately preceding the date of his return and at any time thereafter' introduced by the finance act, 1986, with effect from april 1, 1987, wanted us to appreciate the legislative intent of the clause under consideration as it is. ..... senior counsel also brought to our notice that the clause under consideration, reproduced above, is now renumbered as clause (v) by the finance act, 1992, with effect from april 1, 1993, and this renumbering also includes the phrase referred to hereinbefore which was inserted by the finance act, 1986, with effect from april 1, 1987. ..... it is pleaded that as regards the assessment year 1979-80, the provision of section 5(1)(xxxiii) of the wealth-tax act would justify a claim for exemption regarding the assets acquired prior to the return of the assessee if they are out of the amounts brought into india prior to his return and this claim was rejected by ..... however as regards the assessment years 1980-81 and 1981-82, the wealth-tax officer allowed the claim for exemption under the above statutory provision only as regards rs ..... with regard to the assessment years 1980-81 and 1981-82, the contention was partly accepted. ..... a non-resident he returned to india in may, 1979, and, therefore, for the purposes of the assessment years 1980-81 and 1981-82, he became a resident indian. ..... thus filed initially a 'nil' return for the assessment years 1979-80, 1980-81 and 1981-82.5. .....

T.L.George Vs. Commissioner of Central Excise

Court : Kerala

..... ; in as much as, the number of residential units in terms of ext.p1 contract was only 10; that is to say, l.s.quarters-8 numbers and u.s.quarters-2 numbers at vazhakulam and therefore, such a construction will not fall within the definition of 'residential complex' in section 65 (91a) of the finance act, 1994.4. ..... to necessarily have an opportunity to assess the materials to ascertain whether the work done was in terms of a particular contract, the spread of which would not draw that activity into the net of service tax in terms of the finance act, 1994, even if, the owner has different other residential units or other units as part of a residential complex or other complex. w.a. ..... appellant was issued a show cause notice dated 21.10.2011 proposing orders under the different provisions of the finance act, 1994 on the premise that he failed to furnish periodical returns and had also suppressed the value of taxable service. .....

Palm Fibre India Private Limited Vs. Union Bank of India

Court : Kerala

..... sale of foreign currency, including money changing, shall have the option to pay an amount calculated at the following rate towards discharge of his service tax liability instead of paying service tax at the rate specified in section 66b of chapter v of the act, namely: (a) 0.12 per cent of the gross amount of currency exchanged for an amount upto rupees 100,000, subject to the minimum amount of rupees 30; (b) rupees 120 and 0.06 per cent of the gross ..... on and after finance act, 2012. ..... one of statutory interpretation, as also the scope of the delegated powers of the rule making authority, pointed reference has to be made to the various provisions of the finance act, 1994. ..... the relevant provisions are the following: finance act, 1994 sec.65: "(12) "banking and other financial services" means - (a) the following services provided by a banking company or a financial institution including a wp(c).no.2809 of 2014 - 3 - non-banking financial company or any other body corporate ..... this unascertainable component which the statute permits, to be ascertained in terms of money, by sub-section (4) of section 67; to be prescribed by the rules and which has been done by rule 2b of the ..... 2014 - 12 - specific contention raised by the petitioner is that, sub-clause (i) of sub-section (1) provides the valuation of taxable services, to be the "gross amounts" charged by the service ..... government of india, ministry of finance, secretariat, new delhi. ..... of excise and customs, ministry of finance, new delhi. .....

Dr. Vs. P. Gopinathan V. Commissioner of Wealth Tax.

Court : Kerala

Reported in : (1996)133CTR(Ker)493

..... learned senior tax counsel urged, firstly on the basis of the following words, 'within one year immediately preceding the date of his return and at any time thereafter' introduced by the finance act, 1986 w.e.f ..... april, 1993 and this renumbering also includes the phrase referred to hereinbefore which was inserted by the finance act, 1986 w.e.f ..... (v) by the finance act, 1992 ..... , such an assessee would be entitled to claim exemption with regard to the monies and the value of assets brought by him into india, the condition being with regard to the value of assets, it is the language of the section that the assets are required to be acquired by him out of such monies.15 ..... . the plain language of the section, in our judgment, cannot permit such a restricted approach based on dissection, firstly with regard to the remittances, secondly with regard to the monies and the assets brought by such an assessee along with him ..... is not possible to consider the language of the section in this way ..... . the section can be considered from yet ..... . 1980-81 and 1981-82 the contention was ..... . 1980-81 and 1981-82, the wto allowed the claim for exemption under the above statutory provision only as ..... . 1980-81 and 1981-82 he became a ..... right in holding that the value of the assets acquired by the assessee prior to his return to india out of moneys brought by him into india, is not exempt from wealth-tax under s. 5(1)(xxxiii) of the wt act, 1957 for the asst ..... -80, 1980-81 and 1981-82.5 ..... -80, 1980-81 and 1981-82 ?'2 .....