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ipca Laboratories Ltd. Vs. Deputy Commissioner of Income Tax

Court : Mumbai

Reported in : (2001)70TTJ(Mumbai)991

..... 636, 31-8-1992 ( (1992) 107 ctr 11, and stated that the finance act had amended section 80hhc in order to provide that where the export or trading house disclaims the tax concession in favour of the support manufacturer, the concession to the export of trading house will be reduced by the amount which bears ..... the learned commissioner (appeals) has failed to appreciate the scheme of section 80hhc of the act which was amended from the assessment year 1992-93 to give boost to the exports of the country by giving incentives to ..... end result of this ingenious method is that both the assessee and its supporting manufacturers have become eligible for the benefit under section 80hhc whereas, if there were no disclaimers, none would be entitled for this benefit.it is pertinent to note that section 80hhc(1) has been amended with effect from 1-4-1989, as a result of which, the word 'profit' has been substituted for 'whole of income ..... is not difficult to see that the intended purpose of these amendments is to ensure that the deduction allowed under section 80hhc comes into play only when the assessee is having profit. ..... section 80hhc (1) has been further amended with effect from assessment year 1992 ..... 4 to 12 of paper book) as required under section 80hhc(4)/whhc(4a) of the income tax act, relying upon the decision of tribunal ahmedabad bench 'c' in the case of hindustan fashions ..... 85,81,700 under section 80-ia of the act in respect of formulation unit at ratlam by reducing therefrom r&d; capital .....

A.A. Salam Vs. Assistant Commissioner of Wealth

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (2007)106TTJ(Coch.)1140

..... by the finance act, 1992, section 2(ea) was brought on the statute book giving the definition of "asset" for the purpose of wt act which reads as under: (ea) 'assets' in relation to the assessment year commencing on the 1st day of april, 1993, or any subsequent assessment year, means- (i) any guest-house and any residential house (including a ..... the provisions of the finance act, 1992, by virtue of which the wt act was also amended. ..... , 1992, explained the provisions of the finance act, 1992, and the relevant extract of the said circular is reproduced as ..... the cbdt has explained the provisions of the finance act, 1992, vide circular no. ..... in respect of the wt act have been substantially amended by the finance act, 1992, w.e.f. ..... find force in the argument of the learned authorised representative that after referring to the hon'ble finance minister's speech while moving the finance bill, 1992, and subsequent circular by the cbdt explaining the provisions of the said act, it is clear that the government was more concerned for stimulating the investment in the productive ..... a view to stimulating investment in productive assets, the finance act has abolished wealth-tax on all assets except certain ..... on the other hand, the learned senior departmental representative vehemently argued that from the plain reading of clause (vi) to section 2(ea) of the wt act, it is very clear that in case of individuals and hufs, whether cash is recorded in the books of account or not, if it is in ..... 1992, (1992) 107 .....

Cit Vs. Ratilal Bacharilal and Sons

Court : Mumbai

Reported in : (2006)198CTR(Bom)324

..... however, this legal position stands abrogated in view of the amendment to section 263 of the act, as amended by finance act, 1989. ..... amendment to section 263 of the income tax act, 1989, has been made by finance act, 1989, with retrospective effect from 1-6-1988 ..... the very same high court has further held that the amendment to clause (c) by the finance act, 1989, clarifies that the said clause (c) must be deemed to have always been in existence (see hamilton & ..... , the order of assessment passed by the income tax officer under section 143(3) read with section 144b on 31-7-1978, had merged with that of the commissioner (appeals) dated 15-12-1979, in respect of the three items in dispute so as to exclude the jurisdiction of the cit under section 263 ?'the apex court while dealing with the above question applied the amended provision of section 263(1) of the act to the aforesaid three items which were not the subject- ..... matter of appeal and held as under :'the consequence of the said amendment made with retrospective effect is that the powers under section 263 of the cit shall extend and shall be deemed always to ..... (1992) 107 ctr (bom) 53;some of the leading high courts have taken a contrary view ..... (1992) : [1992]198itr196(bom) and cit v .....

B. Narasimha Reddy Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (1993)47ITD398(Hyd.)

..... . kaziamunnisa begum [1992] 65 taxman 390 found that section 2(1 a) of the income-tax act was amended by finance act 1989 with retrospective effect from ..... . high court held that even while deciding the reference under section 256(1) or 256(2), the provision and retrospective operation should be applied to the facts coming before the high court even though the said retrospective provision was not available at the time when ..... . under section 54 of the transfer of property act the agreement by itself does not confer any title in favour ..... of gram panchayat was merely obtained which does not amount to permission required from the collector within the meaning of section 62 of the above said act.15 ..... . under the definition of section 2(14), land which is situated within 8 kms from the local limits of the municipality should be considered as ..... . this definition of section 2(14) has got retrospective operation ..... completing the assessment against shri ramanaiah choudhury, there was a raid at his residential premises, as well as his so-called firm's premises under section 132 ..... obtaining the permission he formed a lay out for house sites and sold some of the laid out sites to the workers in the nearby factories.however, in this case, though section 62 of the a.p ..... mahalingam chettiar [1977] 107 itr 236 ( ..... . (telangana) area land revenue act 1317 fasli ordains that unless permission is obtained from the collector agricultural land cannot be used for non-agricultural purposes no such permission was obtained from ..... cit [1977] 107 itr 716 .....

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... 1676 of 2013 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 of the constitution of india declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... 17245 of 2011 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... w.p.no.29398 of 2010 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... the enactment of finance act, 1994, the central government derived its authority from the residuary entry 97 of the union list for levying tax on services.107. .....

G.V.Matheswaran Vs. the Union of India

Court : Chennai

..... 33 w.p.nos.14887, 19322, 20982 and 24804 of 2010 are filed seeking a writ of prohibition prohibiting the respondents from (a) giving effect to the provisions of section 65(90a) read with section 65(105)(zzzz) of the finance act, 1994 as amended by the finance act, 2007 and finance act, 2010 (b) levying or attempting to levy, collect or recover from the petitioner, any service tax under the said provisions and (c) levying or attempting to levy, collect or recover from the land owners of the petitioner, any service ..... 32 w.p.nos.24586 and 24588 of 2010 are filed seeking to declare that (i) the impugned provisions, i.e.section 65(105)(zzzz) read with section 65(90-a) of the finance act, 1994, as amended by the finance act, 2010, as null and void and ultra vires and violative of entry 49, list-ii, seventh schedule, articles 14, 19 and 246(3) of the constitution of india, (ii) section 76(a)(6)(h) and section 77 of the finance act, 2010 as null and void and ultra vires the constitution of india insofar as the petitioners are concerned; and (iii) the notification ..... 51 w.p.no.8932 of 2011 is filed by the tamil nadu slum clearance board, seeking to declare the provision of sub-section 9(a) of section 65 of the finance act, as amended by the finance act, 2007, as invalid and this court is not inclined to go into the same as the said provision is intra vires of the constitution in view of the decision taken by this court in paragraph no.30 above, following the decision in home solutions .....

Commissioner of Income-tax, Kerala Vs. K. Srinivasan

Court : Supreme Court of India

Reported in : AIR1972SC491; [1972]83ITR346(SC); (1972)4SCC526; [1972]2SCR309

..... on a reference being sought the following question of law was referred to the high court :-whether the words 'income tax' in the finance act of 1964 in sub-section (2)(a) and sub-section (2)(b) of section 2 would include surcharge and additional surchargethe high court answered the question in the negative and m favour of the assessee.3. ..... although under the act section 4 is the charging section income tax can be charged only where the central act which, in the present case, will be the finance act enacts that income shall be charged for any assessment year at the rate or rates specified therein. ..... section 2 of the finance act 1971 is to the effect that the provisions of section 2 and of the first schedule to the finance act 1970 shall apply in relation to income tax for the assessment year or as the case may be the financial year commencing on the first day of april 1971 as they apply in relation to income tax for the assessment year commencing on first day of april 1970 with certain modifications set out in the section. ..... section 3(1) of that act read :subject to the provisions of this section the rates of income tax and rates of super tax...imposed by sub-section (1) of section 7 of the indian finance act 1940 shall, in respect of the year beginning on the first day of april 1940 be increased by a surcharge for the purpose of the central government....similar phraseology was employed in respect of surcharge on super tax. .....

Kanoria Industries Ltd. Vs. Union of India (Uoi)

Court : Karnataka

Reported in : 2005(190)ELT295(Kar)

..... provisions of law or rule and therefore there was no occasion at all for the parliament to have enacted a validating levy and if there was no occasion, the very provisions of section 112 of the finance act, 2000 cannot be sustained inasmuch as it is the submission of learned counsel for the petitioners that there was no cause of action for the parliament to make such a law, ..... has been deprived of modvat credit to which the petitioners are otherwise entitled to in terms of the rules governing allowing of modvat credit, only because of the provisions of section 112 of the finance act, 2000, the petitioners are entitled to question the legality of this provision and further submits that even the supreme court while disposing of the review petition in the case ..... court had earlier dismissed the appeal of the revenue as against this order, nevertheless, the revenue having brought to the notice of the supreme court the provisions of section 112 of the finance act, 2000, which was enacted as a validating legislation and which had now virtually taken away any benefit or concession that had been given to an assessee under the ..... have continued to reap the benefit of modvat credit and the petitioner therefore feeling aggrieved by this endorsement as also the provision of section 112 of the finance act, 2000, has challenged the constitutional validity of this statutory provision and for quashing the consequential endorsement and further direction for restoration of the modvat credit entry.4. .....

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)288ITR226(Hyd.)

..... there is no distinct and independent charge whereby surcharge can be said to have been levied on undisclosed income determined for a block period under chapter xivb.12.72 even otherwise, we find that the finance act(s), prior to amendment in section 113 of the act, did not satisfy the four components which enter into the concept of tax and some of these components are not clearly and definitely ascertainable, in order to be treated as an independent and distinct levy ..... is that the law to be applied is that which is in force in the assessment year, unless otherwise provided expressly or by necessary intendment.12.34 a reading of the note to clauses or the amendment to section 113 in the finance act, 2002, extracted above, does not give any indication that the legislation was introduced to explain an earlier finance act or clarify the real intention of the legislature or that the proviso was inserted to supply an obvious omission or to clear up doubts as to the levy of surcharge in question. ..... those which are cited before us, but also others being fortifying our view taken, the first contention of the revenue based on the retrospective nature of the amendment to the provisions of section 113, by the insertion of proviso thereunder, is liable to be rejected.12.37 this brings us to the issue, as to whether the finance act has levied surcharge on tax on undisclosed income computed under chapter xivb, by introducing a distinct and independent charge and, if so, whether the levy of surcharge .....

Karvy Consultants Limited Vs. Government of India

Court : Andhra Pradesh

Reported in : 2006[]STR75

..... information technology service' means any service in relation to designing, developing or maintaining of computer software, or computerized data processing or system networking, or any other service primarily in relation to operation of computer systems.section 65(19), as amended by finance act, 2004 with effect from 10-9-2004, reads thus :-business auxiliary service' means any service in relation to :-(i) promotion or marketing or sale of goods produced or provided by or belonging to the client; ..... in this writ petition, the petitioner seeks a declaration that section 65(19) of the finance act, 1994, as amended by the finance act of 2003, has no application to the petitioner's service namely 'registrar and transfer agency ..... the show cause notice was issued after strictly construing section 65(19) of the finance act, 2003, that the functions of the registrar and share transfer agent is a service rendered which is in the nature of incidental or auxiliary support service rendered in ..... transfer agent, is in the nature of incidental or auxiliary support service in the sale of goods (securities) belonging to the client and falls within the purview of section 65(19)(iv) of the finance act, 2003, that the impugned show cause notice merely demanded service tax on service charges collected by the petitioner towards such services rendered from 1-7-2003 to 31-1-2004, that .....