Court : Kerala
Reported in : 2006(1)KLT72; [2006]144STC553(Ker)
..... the first time, the kerala finance act, 1993 introduced an amendment to section 17 prescribing a period of ..... that background, the finance act, 1993 introduced amendments to section 17 providing that the assessments should be completed within a period of 4 years and as far as the assessments pending as on 1.4.1993, within a period of four years from the date of publication of the act. ..... was pending before the supreme court, the state introduced a further amendment to the kerala finance act, 2000 inserting a new provision as section 17a. ..... in the case of assessments pending as on 1.4.1993, the second proviso to sub-section (6) thereof stipulated that such assessments should be completed within a period of four years from the date of publication of the kerala finance act, 1993.the scope and ambit of the expression 'assessment pending' occurring in the aforesaid proviso came up for consideration in geo ..... considering the addition of section 17a in the kerala general sales tax act, 1963 by the kerala finance act, 2000 and the facts stated in the rejoinder affidavit the impugned orders passed by the high court are required to be set aside and the matters are required to be remitted to high court for ..... the scope of their writ petitions is limited only to the impact of second proviso to section 17(6) - 'provided further that all assessments pending as on the 1st day of april, 1993 shall be completed within a period of four years from the date of publication of the kerala finance act, 1993'. .....
Tag this Judgment!Court : Kerala
Reported in : [2003]129TAXMAN549(Ker)
..... given a wider interpretation as per the finance act, 1989 with effect from 1-6-1988 which amended section 25(2) of the wealth tax act to the effect that 'record shall include and shall be deemed always to have concluded all records relating to any proceeding under this act available at the time of examination ..... by amendment to section 32 by finance act, 2001 with effect from 1-4-2002 would take back to the position that whether or not the assessee claimed the deduction in respect of the depreciation, section 32 would ..... the question arose as to whether the salaries and other allowances given to the foreign technicians can be brought to tax under the above section as 'salary' earned to india an explanation was added to section 9(1)(ii) of the income tax act by finance act, 1983 which was inserted with effect from 1-4-1979 as follows :'explanation.for the removal of doubts, it is hereby declared that income of the nature referred to ..... section 21 of the finance act, 2001 section 32 was amended ..... . clause 21 of the finance bill seeking to amend section 32 of the income tax act relating to depreciation is reproduced as hereunder :'sub-clause (a) seeks to insert a new explanation 5 in clause (ii) of sub-section (1) of the said section so as to clarify that the provisions of subsection (1) of section 32 shall apply whether or not the assessee has claimed the deduction for depreciation in computing his total income.sub-clause (b) seeks to substitute sub-section (2) so as to provide that where .....
Tag this Judgment!Court : Kerala
Reported in : [1975]35STC52(Ker)
..... this can only refer to the indian income-tax act, 1922, as it stood amended at the date of the indian finance act, 1939, and necessarily includes the alterations made by the amending act, which had already come into force on the 1st april, 1939.7. ..... -in exercise of the powers conferred by clause (b) of sub-section (2) of section 57 of the kerala general sales tax act, 1963 (act 15 of 1963), the government of kerala hereby make the following amendment to the kerala general sales tax rules, 1963, published as s. r. o. no. ..... ), in these terms :in the first place, it is clear to their lordships that under the express terms of section 3 of the indian income-tax act, 1922, the subject of charge is not the income of the year of assessment, but the income of the previous year. ..... by sub-section (1) of section 6 of the indian finance act, 1939, income-tax for the year beginning on the 1st april, 1939, is directed to be charged at the rates specified in part i of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that 'for the purpose of this section and of schedule ii, the expression 'total income' means total income as determined for the purposes of income-tax or super-tax, as the case may be, in accordance with the provisions .....
Tag this Judgment!Court : Kerala
Reported in : [2006]155TAXMAN483(Ker)
..... levied on petitioners is not consistent with the law as stated by the patna high court confirmed by the supreme court in the above referred decisions, the demand of interest based on assessed income is perfectly in order by virtue of the amendment to the act by finance act, 2001 whereunder explanation 4 was omitted from section 234a and explanation i was substituted by the new explanation specifically providing for levy of interest with reference to tax assessed under sub-section (1) of section 143 or regular assessment. ..... year, an assessment is made for the first time under section 147, the assessment so made shall be regarded as a regular assessment for the purposes of this section.explanation 4 : omitted with retrospective effect from 1-4-1989 by finance act, 2001 was as follows:'explanation 4: in this sub-section 'tax on the total income as determined under sub-section (1) of section 143 or on regular assessment' shall, for the purposes of computing the interest payable under section 140a, be deemed to be tax on total income as declared in the return .....
Tag this Judgment!Court : Kerala
Reported in : 2012(2)KLT941; 2012(2)KHC683
..... by similarly situated state government departments like insurance department of the state of rajasthan, 'exemption' has been granted by the central government and notified in the gazette, in exercise of the power under section 93 of the finance act and unless and until such exemption is sought for and obtained, the petitioner is liable to meet the requirements towards tax liability. ..... it is stated that, by virtue of the definition of the term 'taxable service' under sec.65 (105)(d) of the finance act,1994 and so also the term 'service tax' under section 65(95) of the finance act, it was a continuation of the pre-existing scheme and that the state is not doing any 'service' or 'business', but for discharging ..... that the specific circumstances and how the exemption could be availed, have been provided under section 93 of the finance act, 1994 and since there is no case for the petitioner that any such exemption has been obtained under section 93 of the finance act, 1994, the exemption/exclusion under the lic act or under the general insurance business (nationalisation)act, 1972, cannot be of any help to the petitioner. ..... . in the above circumstance, the first respondent/union of india is directed to consider ext.p11 under section 93 of the finance act, 1994, particularly in the light of similar exemptions stated as given to other similarly situated government departments like the state of rajasthan and pass appropriate orders in accordance with law, as expeditiously as possible, .....
Tag this Judgment!Court : Kerala
Reported in : 2012(3)KLT40(SN)(C.No.41); 2012(3)KLJ108
..... the petitioners seek to declare sec.67 of chapter v of the finance act 1994 (act 32 of 1994), as amended from time to time, and other provisions and rules made and notifications issued under the act, in so far as it includes the expenses and salary paid to the security guards and the statutory payments like contributions to esi and epf, in the 'gross amount' charged for valuation of 'taxable service' in ..... though only a few entries were originally there under section 65, the list was widened subsequently as per the finance act, 1996, 1997,1998 and so on, with nearly 125 entries as ..... class, 'man power recruitment agency' separately defined under section 65 was already brought under the net as per the finance act 1997 (act no.26 of 1997). ..... the challenge is not with regard to the inclusion of the petitioner within the 'service tax net', but against fixation of the value of 'taxable service' under section 67, reckoning the 'gross amount', without segregating the expenses towards salary and statutory payments under the esi/epf, which constitute the major portion of the total figure involved ..... finalised by the concerned respondent is very much open to be challenged by availing the statutory remedy, as provided under the act and as such, the only issue to be considered in these writ petitions is as to the validity of the statutory prescription, particularly under section 67, providing for fixation of tax, reckoning the 'gross amount' without segregating the 'expenditure part' from the rest. .....
Tag this Judgment!Court : Kerala
Reported in : [1972]84ITR30(Ker)
..... section 2(1)(b) of the finance act, 1964 (act 5 of 1964), provided that super-tax for purposes of section 95 of the income-tax act, 1961, be charged at the rates specified in part ii of the first schedule of the finance act ..... in the finance act of 1964 (act 5 of 1964), the levy of income-tax on companies was regulated by part i, paragraph d, and the levy of supertax was regulated by part ii, paragraph d, of the first schedule read with section 2(1)(b) of that act. ..... attractive this argument may be, it is not justified because of section 43 of the state financial corporations act and the wording of clause (i)(c)(b) of the second proviso read with clause (i)(a) of the first proviso to paragraph d of part ii of the first schedule to the finance act, 1964. ..... already observed the levy of super-tax has been authorised by section 95 of the income-tax act and the rate alone is prescribed by the finance act, 1964. ..... section 2(1)(b) of the finance act, 1964, reads ..... (c) in addition, in the case of a company referred to in clause (i) or clause (ii) or clause (iii) of the preceding proviso [being such a company as is referred to in section 108 of the income-tax act or any other company as is referred to in clause (iii) of sub-section (2) of section 104 of that act] which has declared or distributed to its shareholders during the previous year any dividends other than dividends on preference shares- (a) in the case of a company which since the date of the commencement of its activities has declared .....
Tag this Judgment!Court : Kerala
Reported in : (2003)182CTR(Ker)502; [2003]261ITR708(Ker)
..... the absence of any expression indicating of such a requirement by the assessee and in view of the fact that such a requirement was made expressly clear by an amendment brought about by the finance act, 1997, we have no hesitation to hold that such a requirement made explicitly clear both by amendment to section 36(1)(viii) as well as by insertion of sub-section (4a) of section 41 of the it act, that any retrospective effect cannot be presumed to be a condition for granting the benefit as per the provisions which stood prior to the amendment in question. ..... april, 1998, by the finance act, 1997, with the amendment to section 36(1)(viii) of the it act. ..... drew our attention to the amendment made to section 36(1)(viii) by finance act, 1997, w.e.f. ..... according to him the amendment made is significant enough that the condition that the reserve fund should be maintained was inserted by the first time by finance act, 1997 and not ..... the amendment was made by finance act, 1997, ..... learned counsel appearing for the revenue, on the other hand, contended that though the word 'and maintained' was inserted by an amendment made by the finance act, 1997 w.e.f. ..... an explanation was added by the finance act, 1966, by which it was declared that the deduction referred to under section 33 could not be denied by reason only that the amount debited to the p&l; a/c of the relevant previous year and credited to the aforesaid reserve account exceeded the amount of the profit of such previous year (as arrived at .....
Tag this Judgment!Court : Kerala
Reported in : (1994)116CTR(Ker)15; [1994]207ITR598(Ker)
..... the appellate tribunal has failed to advert to or discuss the scope and effect of section 37(2), 37(2a) along with explanation 2, though the amendment to the finance act, 1983, which had retrospective effect from april 1, 1976, had come into force when the appellate tribunal decided the ..... pleas, we have to bear in mind section 37(2a) and also the newly inserted explanation 2 to section 37(2a) by the finance act of 1983 with retrospective effect from april 1, 1976 (by way of amendment). ..... the notes on clauses of the finance act, 1983, explains the object of the amendment to the following effect (see [1983] 140 itr 124):'sub-clause (a)(ii) seeks to add a new explanation to clarify that 'entertainment expenditure' includes expenditure on hospitality of every kind whether provided under any ..... tribunal on this aspect is of a very general nature and without reference to the relevant provisions of the statute, and in particular, explanation 2 to section 37(2a), which was introduced by the finance act, 1983, with retrospective effect from april 1, 1976. ..... curios to foreign buyers and the expenses incurred for providing lodging facilities to them is an entertainment expenditure :'...we are clearly of opinion that in interpreting the expression 'entertainment expenditure' occurring in sub-sections (2a) and (2b) of section 37 of the act, the word 'entertainment' should be taken to mean hospitality of any kind extended by the assessee directly in connection with his business or profession.'15. .....
Tag this Judgment!Court : Kerala
Reported in : [2009]316ITR306(Ker); 2008(3)KLT326; [2009]176TAXMAN277(Ker)
..... the scope of amendment to section 36(1)(vii) is involved, we extract hereunder clause (vii) of section 36(1) with the explanation introduced by finance act 2001 with effect from 1.4.1989.section 36(1) the deduction provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28:. ..... next issue to be considered is scope of the explanation introduced to section 36(1)(vii) by finance act 2001 with effect from 1.4.1989. ..... for the assessee contended that eligibility for deduction of provision for bad debt is a debatable issue and is ceased to be so only by virtue of explanation introduced to section 36(1)(vii) by finance act 2001 with effect from 1.4.1989. ..... contention of counsel for the appellant is that as on date of completion of proceedings under section 143(1)(a), explanation to section 36(1)(vii) was not in the statute because though introduced with retrospective effect, it was in fact brought to the statute only by finance act 2001. ..... , any advance tax paid and any amount paid otherwise by way of tax or interest, then, without prejudice to the provisions of sub-section (2), an intimation shall be sent to the assessee specifying the sum so payable, and such intimation shall be deemed to be a notice of demand issued under section 156 and all the provisions of this act shall apply accordingly; and(ii) if any refund is due on the basis of such return, it shall be granted to the assessee:provided that .....
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