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Commissioner of Income Tax, Jalpaiguri Vs. Om Prakash Mittal

Court : Supreme Court of India

Reported in : (2005)194CTR(SC)97; 2005(184)ELT3(SC); [2005]273ITR326(SC); JT2005(2)SC538; (2005)3MLJ48(SC); (2005)2SCC751

..... introduced by finance act, 1987 w.e.f. ..... by finance act, 1987 w.e.f ..... or the complexity of the investigation involved therein, the settlement commission may, by order, allow the application to be proceeded with or reject the application : provided that an application shall not be rejected under this sub-section unless an opportunity has been given to the applicant of being heard :provided further that the commissioner shall furnish the report within a period of forty-five days of the receipt of communication from the settlement commission ..... returned and the income disclosed in the application as if such aggregate were the total income;(iii) if the proceeding pending before the income-tax authority is in the nature of a proceeding for reassessment of the applicant under section 147 or by way of appeal or revision in connection with such reassessment, and the applicant has not furnished a return in respect of the total income of that year in the course of such proceeding for reassessment, ..... in case of all applications made under section 245c on or after the 1st clay of july, 1995 and if the commissioner fails to furnish the report within the said period, the settlement commission may make the order without such report. ..... -a was introduced by the taxation laws (amendment) act, 1975 (in short the 'amendment act') w.e.f. .....

Commissioner of Income Tax Vs. Hindustan Bulk Carriers

Court : Supreme Court of India

Reported in : AIR2003SC3942; (2003)179CTR(SC)362; (2003)2MLJ65(SC); (2003)3SCC57; [2002]SUPP5SCR387

..... prior to finance act, 1987, the corresponding sections pertaining to imposition of interest used the expression 'may' but the change brought about in the finance act, 1987 is a clear indication that the intention of the legislature was to make the collection of ..... introduced by finance act, 1987 w.e.f. ..... by finance act, 1987 w.e.f. ..... case pertinent for this case read as under:-'it is no doubt true that the terminology 'settlement' has a very wide dictionary meaning and in the absence of a statutory definition generally the word 'settlement' in sub-section (4) of section 245-d would give the commission sufficient power to arrive at a settlement which it deems fit, but when the statute qualifies such expression like 'settlement' with mandatory words like 'in accordance with the provisions of this ..... and one-half per cent for every month or part of a month comprised in the period from the 1st day of april next following such financial year to the date of determination of total income under sub-section (1) of section 143 and where a regular assessment is made, to the date of such regular assessment, on an amount equal to the assessed tax or, as the case may be, on the amount by which the advance tax paid as aforesaid ..... chapter xix-a providing forum and procedure for 'settlement of cases' was introduced in the it act by taxation laws (amendment) act 1975 published in the gazette of india extraordinary part ii dated 9th may, 1973 (pages 443 ..... objects andreasons for the amendment reads thus:31. .....

M/s New Noble Educational Society Vs. The Chief Commissioner Of Income ...

Court : Supreme Court of India

..... the direct tax laws (amendment) act, 1987 deleted section 10 (23c) (iv) and ..... shall now consider the effect of insertion of provisos to section 10(23c)(vi) vide finance act, 1998. ..... shall now consider the effect of insertion of provisos to section 10(23- c)(vi) vide the finance (no.2) act, 1998. ..... was submitted that by the finance act 1998, which came into force on 1 april 1999, significant changes were affected in that section. ..... for the purposes of sub-clauses (iiiab) and (iiiac), any university or other educational institution, hospital or other institution referred therein, shall be considered as being substantially financed by the government for any previous year, if the government grant to such university or other educational institution, hospital or other institution exceeds such percentage of the total receipts including any voluntary contributions, as may be prescribed, of ..... will be rather unreal and hyper-technical to hold that the assessee-society is only a financing body and will not come within the scope of 'other educational institution' as specified in section 10(22). ..... firstly, institutions solely or substantially financed by the government were classified under ..... be included (23c) any income received by any person on behalf of (i)******************* (iiiab) any university or other educational institution existing solely for educational purposes and not for purposes of profit, and which is wholly or substantially financed by the government; or ******************* explanation. .....

Commissioner of Income Tax, Bhopal Vs. Shelly Products and anr.

Court : Supreme Court of India

Reported in : AIR2003SC2532; (2003)181CTR(SC)564; [2003]261ITR367(SC); JT2003(4)SC528; 2003(4)SCALE674; (2003)5SCC461

..... the high court was further of the view that the amendment to section 240 by the direct tax laws (amendment) act, 1987 with effect from april 1, 1989 which introduced the proviso, has brought about a change in the legal position, but the proviso is applicable only with effect from april 1, 1989 and ..... to overcome this difficulty and to make the position clear, the proviso to section 240, inserted by the amending act, 1987, provides that where the assessment is annulled, the refund shall become due only in respect of the amount, if any, paid in excess of the tax chargeable on the total ..... startling result where thought, according to the assessee, he is liable to pay the tax as per the return filed by him and has in fact paid the tax in accordance with the provisions of section 140a of the act and the assessing officer did not find it necessary to assess the total income since he may have accepted the return on expiry of the period during which the regular assessment is required to be made, ..... as soon as the finance act prescribes the rate or rates for any assessment year, the liability to ..... return and the payment of tax thereon computed at the prescribed rates amounts to an admission of tax liability which the assessee admits to have incurred in accordance with the provisions of the finance act and the income tax act. ..... the tax liability is computed on the basis of the relevant finance act laying down the rate or rates at which the tax is payable and provides for other matters relevant to .....

Assistant Commissioner of Income Tax Vs. Rajesh Jhaveri Stock Brokers ...

Court : Supreme Court of India

Reported in : AIR2007SC2163; (2007)210CTR(SC)30; [2007]291ITR500(SC); JT2007(8)SC494; 2007(8)SCALE396; 2007(2)LC0725(SC)

..... section 147 prior to its substitution by the direct tax laws (amendment) act, 1987, ..... by the direct tax laws (amendment) act, 1987, the provision read as follows:148 ..... any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year):provided that where an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income ..... tax paid on self-assessment 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 and ..... act of 1991 with effect from october 1, 1991, and subsequently with effect from june 1, 1994, by the finance act, 1994, and ultimately omitted with effect from june 1, 1999, by the explanation as introduced by the finance ..... from april 1, 1998, the second proviso to section 143(1)(a) was substituted by the finance act, 1997, which was operative till june 1, ..... insertion of the explanation to section 143 by the finance (no. .....

All India Federation of Tax Practitioners and ors. Vs. Union of India ...

Court : Supreme Court of India

Reported in : AIR2007SC2990; (2008)5CompLJ488(SC); (2007)211CTR(SC)449; 2007(120)ECC451; 2007LC451(SC); [2007]293ITR406(SC); JT2007(10)SC305; (2007)6MLJ1062(SC); 2007(10)SCALE178; 2007(7)SCC527

..... clause 119 of the notes sought to substitute sections 65, 66 and 68 and amend section 67 of the finance act, 1994 relating to service tax so as to levy a tax on services rendered by a practising chartered accountant, cost accountant and architect to a client in professional capacity at the rate of five per cent of the amount charged to ..... through the medium of finance act, may do what the amendment to the it act, 1961 by a separate amendment act, can do. ..... test laid down in the aforestated judgment of this court, we hold that a new charge by way of service tax or tax on service came to be levied statutorily by the said finance act, 1994, which has subsequently attained constitutional status by virtue of the constitution (eighty-eighth amendment) act, 2003. ..... the third income tax officer, madurai reported in : [1975]101itr24(sc) this court held that the it act, 1961 and the annual finance acts are enacted by parliament in exercise of the power conferred by article 246(1) read with entry 82 of ..... section 65(16) of the finance act, 1994 provided for definition of 'taxable service' to mean any service provided by stock-broker, telegraph authority, and ..... we hold that parliament has legislative competence to levy service tax by way of impugned finance acts of 1994 and 1998 under entry 97 of list i on chartered accountants, cost accountants ..... tax on luxuries act, 1995, andhra pradesh tax on luxuries act, 1987 and west bengal luxury tax act, 1994 were beyond the legislative competence of the .....

Sable Communications Vs. Fcc

Court : US Supreme Court

..... appeal from the united states district court for the central district of california syllabus section 223(b) of the communications act of 1934, as amended, bans indecent as well as obscene interstate commercial telephone messages, commonly known as ..... and outside the los angeles metropolitan area, brought suit in the district court, claiming that 223(b)'s obscenity and indecency provisions were unconstitutional, chiefly under the first and fourteenth amendments, and seeking an injunction enjoining the fcc and the justice department from initiating any criminal investigation or prosecution, civil action, or administrative proceeding under the statute and a declaratory judgment. ..... section 223(b) of the communications act of 1934, as amended by section 7524 of the child protection and obscenity enforcement act of 1988, states in pertinent part: "(b)(1) whoever knowingly -- " "(a) in the district of columbia or in interstate or foreign communication, by means of telephone, makes (directly or by recording device) any obscene communication for commercial purposes to any person, regardless ..... sexual expression which is indecent but not obscene is protected by the first amendment; and the federal parties do not submit that the sale of such materials to adults could be criminalized ..... decency act of 1987: hearings ..... 1786 before the subcommittee on telecommunications and finance of the house committee on energy and ..... ] telephone decency act of 1987: hearing on h. ..... the 1987 hearings ..... 1987 ..... (1987) ..... 1987 .....

Central Bank of India Vs. State of Kerala and ors.

Court : Supreme Court of India

Reported in : [2010]153CompCas497(SC); JT2009(3)SC216; 2009(3)SCALE451; (2009)4SCC94; (2009)12VatReporter137; (2009)21VST505(SC); JT2009(1)SC216

..... , this court considered the question whether there is any conflict between drugs (price control) order, 1979 made under section 3 of the essential commodities act, 1955 which is a central legislation and section 5(3) of the bihar finance act, 1981 by which surcharge was levied on certain dealers engaged in selling drugs. ..... the two-judge bench in sicom's case, does not contain a provision similar to those in central legislations like section 14a of the workmen's compensation act, 1923, section 11 of the epf act, section 74(1) of the estate duty act, 1953, section 25(2) of the mines and minerals (development and regulation) act, 1957, section 30 of the gift tax act, 1958 and section 529a of the companies act, 1956, under which statutory first charge has been created in respect of the dues of workmen or gift tax etc ..... amended sub-section (2) of section 34 lays down that the provisions of the drt act or rules made thereunder shall be in addition to and not in derogation of industrial finance corporation act, 1948, the state financial corporation act, 1951, the unit trust of india act, 1963, industrial reconstruction bank of india act, 1984 and the small industries development bank of india act ..... peerless general finance and investment company limited : [1987]2scr1 , it was observed, 'that interpretation is best which makes the textual ..... court was called upon to decide whether there was any conflict between the provisions of all india council for technical education act, 1987 and the a.p. .....

Bhavesh D. Parish and Others Vs. Union of India and Another

Court : Supreme Court of India

Reported in : [2000]101CompCas459(SC); 2000(3)CTC178; JT2000(6)SC604; 2000(4)SCALE616; (2000)5SCC471; [2000]Supp1SCR291; 2001(1)LC54(SC); (2000)3UPLBEC2140

..... appellants who carry on the business of 'shroffs' are impugning the validity of section 9 of the reserve bank of india act as amended by the amendment act, 1997 (hereinafter referred to as 'the act')on the ground that the said provision is violative of articles 14 and 19(1)(g) ..... is incapable of being regulated by virtue of the large number of such bodies, the provisions in the nature of the amended section 45-s are necessary and unincorporated bodies should do their business with their own money or institutional finance or money borrowed from relatives.20. ..... also stated in the affidavit that over the years, the functioning of various unincorporated bodies was under observation and in 1984 when chapter iii-c was added to the act, the prohibition to accept deposits was partial in the sense that unincorporated bodies were allowed to accept deposits from a limited number of depositors with no ceiling on ..... of the then existing non-banking financial intermediaries stated in respect of unincorporated bodies in para 8.25 of its report asunder:8.25 we, therefore, suggest that the reserve bank's control may be extended to finance corporations and necessary enabling legislation be passed to that effect. ..... whereas in 1987 the daily newspapers and periodicals were filed with flashy advertisements for attracting business subsequently ..... : [1987]2scr1 , this hon'ble court took judicial notice of and expressed concern about the mushroom growth of such bodies by referring to the advertisements issued .....

Beluga Chartering Gmbh (In Liquidation) and Others Vs. Beluga Projects ...

Court : Singapore Supreme Court

..... the amended 1986 bill was passed by the companies (amendment) act (act no 13 of 1987) ("the 1987 amendment act"). ..... this was explained by the then minister for finance, dr richard hu tsu tau ("dr hu") (see the report of the select committee on the companies (amendment) bill (bill no 9/86) (parl 5 of 1987, 12 march 1987) ("the select committee report") in the following terms at p d 69: the purpose of this amendment is to better reflect the intention of the section by incorporating in it the concepts that appear in section 368 of the act. ..... although the drafting of s 365 is infelicitous, parliament's intention may be given effect through a construction that accords with the purpose of the amendment of the section in 1987. ..... parliament's intention, as evidenced by the original version of s 365 as well as the proposed rewording of that section in the 1986 bill prior to the amendments by the select committee (see above at [35(c)]- [35(d)]), was that the provisions in division 2 should apply to companies which intended to establish a place of business or carry on business in singapore and would have been liable to register under s 368 of the act. ..... the judge placed considerable emphasis on the deletion of the word "only" in s 365 by the 1987 amendment act. .....