Judgment Search Results Home > Cases Phrase: finance act 1992 section 67 amendment of section 187 Court: kerala Page 1 of about 279 results (0.102 seconds)

CochIn Company Vs. Commissioner of Income-tax

Court : Kerala

Reported in : [1978]114ITR822(Ker)

..... the assessee had put forward a plea before the income-tax officer that it was entitled to a rebate of tax under section 2(5)(a)(i) of the finance act, 1966, since its total income included profits and gains derived from the export of goods out of india. ..... another contention raised by the assessee before the income-tax officer was that during the relevant accounting period the assessee satisfied the definition of an 'industrial company' as contained in section 2(7)(d) of the finance act, 1966, and that, therefore, the tax had to be levied only at the rate of 55 per cent. ..... on the other two points relating to the claims put forward by the assessee for rebate of tax under section 2(5)(a)(i) of the finance act, 1966, and for computation of the tax at the rate of 55 per cent. ..... /coch/70-71, which was the appeal filed by the assessee-company, the findings of the appellate assistant commissioner disallowing the assessee's claim for rebate of tax under section 2(5)(a)(i) of the finance act, 1966, and for the application of the concessional rate of tax under item i(a)(2) of paragraph f of schedule i of the finance act, 1966, were questioned by the assessee. ..... on the question relating to the assessee's claim for rebate of taxunder section 2(5)(a)(i) of the finance act, 1966, the tribunal agreed withthe view taken by the appellate assistant commissioner and the income-tax officer that the profits obtained by the assessee by sale of importentitlements cannot be regarded as profits or gains derived .....

M.V. Ganesh, Lr of Late M.S. Viswambharan Vs. Commissioner of Income T ...

Court : Kerala

Reported in : (2009)221CTR(Ker)83; [2009]310ITR183(Ker); [2009]181TAXMAN227(Ker)

..... section 87(f) of the finance act defines 'disputed tax' to mean, the total tax determined and payable, in respect of an assessment year under any direct tax enactment but which remains unpaid as on the date of making the declaration under section 88 of the finance act. ..... as required under the scheme, the assessee had filed an application under section 88 of the finance act before the designated authority. ..... sub-clause (i) of section 88(a) of the finance act would not apply to the appellant, since the declarant is not a company or a firm ..... the above view of the matter, in our view, the designated authority was justified in granting relief only under sub-clause (iv) of section 88(a) of the finance act.20. ..... a situation of this nature, the designated authority was justified in placing reliance on sub-clause (iv) of section 88(a) of the finance act.18. ..... -clause (iii) provides for the procedure that requires to be followed by the designated authority for considering the application filed under section 88 of the finance act. ..... what is not necessary for the case, we would only refer to sub-clauses (ii), (iii) and (iv) of section 88(a) of the finance act. ..... section 87(e) of the finance act provides for the meaning of the expression 'disputed income', in relation to an assessment year, as, the whole or so much of the total income as is relatable to the disputed tax ..... section 87(d) of the finance act provides for the meaning of the expression 'disputed chargeable interest' in relation to an assessment .....

Asramam Village Industrial Co-op. Society Ltd. Vs. Union of India (Uoi ...

Court : Kerala

Reported in : 1988(18)ECC69; 1988(17)LC691(Kerala); 1988(38)ELT14(Ker)

..... although, section 51, finance act, 1982 has given retrospective effect to the amendments of rules 9 and 49, yet it must be subject to the provisions of sec tion 11a of the act. ..... the supreme court held in that context that section 51 of the finance act, 1982 was subject to the provisions of section 11a of the act, and that was sufficient to allay the apprehension of the ..... petitioner's plea for bar of time was not accepted, for the reason that the demand had been raised as per section 52 of the finance act, 1982 under which it was stated, there could not be any limitation of time. ..... i am unable to accept the respondents' contention that section 52 of the finance act, 1982 overrides the provisions of section 11a of the act and does away with the period of time for levy and collection of the amounts which have become payable by the operation of that ..... though the petitioner before me has also challenged the constitutional validity of section 52 of the finance act he did not persist in it, and was rest content with accept ing the correctness of the decision of the madras high court in the case of bharath match ..... respondents contest this submission with the plea that section 52 of the finance act, 1982 enables them to review all cases of this nature and to make demand in all cases where the amount would have been payable if the section had been in force from june 19, 1980. ..... the contention of the revenue that section 52 of the finance act overrides section 11a was not accepted, the court .....

Commissioner of Income-tax Vs. Travancore Minerals Ltd.

Court : Kerala

Reported in : [1981]130ITR631(Ker)

..... , or the 1st day of april, 1965, with reference to which the amount of the rebate arrived at under the first proviso to paragraph d of part ii of the first schedule to the finance act, 1964 (v of 1964), or, as the case may be, the first proviso to paragraph f of part i of the first schedule to the finance act, 1965 (x of 1965), is required to be reduced under the second proviso to the said paragraph d or, as the case may be, the second proviso to the said paragraph f, as diminished by so ..... the ito acting in exercise of the power conferred under section 148 of the act, reopened the assessment made against the company for the year 1966-67, on the ground that the distribution of dividend made by the assessee during the accounting year relevant to the said assessment year had been wrongly omitted to be subjected to tax as required under the finance acts, 1965 and ..... the tribunal held that levy of additional tax under paragraph f(i)(b) of part i of the first schedule of the finance act, 1966, would be warranted only if the dividend distributed by the assessee-company was in excess of 10% of the paid up capital, and since the facts of the case disclosed that the dividend distributed was only 5%, ..... 1, it is clear that for the purposes of sub-clause (b) of clause i of paragraph f of the first schedule to the finance act, 1966, only amounts distributed by way of dividends by companies which had earned income or profits liable to tax during the assessment years 1964-65 and 1965-66 is to be .....

Commissioner of Income Tax Vs. N. C. John and Sons Ltd.

Court : Kerala

Reported in : (1996)135CTR(Ker)319

..... facilities, not being expenditure incurred in india in connection therewith or expenditure (wherever incurred) on the carriage of such goods to their destination outside india on the insurance of such goods while in transit, inserted by finance act, 1978 w.e.f. 1st april, 1978 (where such expenditure is incurred before the 1st day of april, 1978;(iv) maintenance outside india of a branch, office or agency for the promotion of the sale outside india of ..... shall be allowed in relation to any expenditure incurred after the 31st day of march, 1978, unless the following conditions are fulfilled, namely :(a) the assessee referred to in that sub-section is engaged in -(i) the business of export of goods and is either a small scale exporter or a holder of an export house certificate; or(ii) the business of provision of technical know-how, or the rendering of services in ..... position that the tribunal proceeding on is own earlier decision added to the effect that the matter was argued in details by the counsel for the parties, we felt it necessary to act on the submission of the learned senior standing counsel for taxes to record our own reasoning which, according to the learned counsel would be a guidance to the authorities in the matter of an order of ..... the provisions of this section, be allowed a deduction of a sum equal to one and one-third times the amount of such expenditure incurred during the previous year :proviso inserted by direct taxes (amendment) act, 1974, w. ..... [ .....

Kerala Colour Lab. Association Vs. Union of India (Uoi)

Court : Kerala

Reported in : (2002)174CTR(Ker)464; 2003(156)ELT17(Ker); [2003]264ITR633(Ker); 2006[2]STR554; [2007]8STT353

..... these writ petitions under article 226 of the constitution of india challenge the imposition of service tax under finance act of 1994, as amended by the finance act of 2001, on the taxable service provided by a photography studio or agency, in relation to photography, ..... the finance act are as under:-section 65(47): ..... hence also, it is contended that section 67 of the finance act is liable to be struck down ..... it is urged that, in all other cases falling under the net of service tax as defined in section 65(72), the cost of material involved is nil or negligible, the service element being predominant, in the case of the activities carried on by the petitioners, ..... 1948 fcr 267, air 1949 fc 81), the federal court held that a tax on buildings under section 3 of the punjab urban immovable property tax act, 1940 measured by a percentage of the annual value of such buildings remained a tax on building under that act even though the measure of annual value of a building was also adopted as a standard for determining income from property under the income tax act. ..... by adopting a thumb rule of excluding the elements in clause (b) of section 67, it is not possible to take the view that there is discriminative legislation so ..... the next contention is that clause (b) of explanation to section 67, which excludes the costs of unexposed photography film, unrecorded magnetic tape or such other storage devices sold to the client during the course of providing the service from the value of taxable .....

M/S.Muthoot Finance Limited Vs. Union of India

Court : Kerala

..... it is also the case of the petitioner that while issuing the show cause notice in terms of section 73 of the finance act, 1994, as amended, the respondents have not first resorted to the provisions of section 72 to complete a best judgment assessment against the petitioner, and therefore, to that extent, the issuance of the show cause notice even prior to the completion of that ..... issue of invoking the provisions of sections 72 and 73 of the finance act, 1994, as amended, it is pointed out that ..... that recently, a division bench of the high court of telengana & andhra pradesh has taken a prima facie view that, in as much as the lis in question had commenced prior to the introduction of the amendment to the finance act, 1994, with effect from august 2014, the petitioner's right of appeal as per the erstwhile provisions of law would not be w.p. ..... is an order passed by the 2nd respondent, against which the petitioner has an alternate remedy under the provisions of the finance act, 1994, as amended to prefer an appeal before the customs, excise and service tax appellate tribunal. ..... therefore, relegate the petitioner to the alternate remedy available under the finance act, 1994, as amended, of approaching the appellate tribunal by way of an appeal ..... it is pointed out that by virtue of the amendment that was introduced into the finance act, 1994, with effect from 16.08.2014, the petitioner is required to deposit only 7.5% of the tax amount confirmed against it, as a condition for preferring an .....

The Commissioner of Income Tax Vs. M/S Merchem Limited

Court : Kerala

..... therefore, the deletion of the second proviso to section 43b and the amendment in the first proviso to section 43b by the finance act, 2008 is required to be confined to section 43b alone and the deletion of the second proviso to section 43b, vide the amendment pursuant to the finance act, 2003, cannot be made applicable with respect to section 36(1)(va) of the act. ..... it appears that prior to the amendment of section 43b of the act, vide the finance act, 2003, an assessee was entitled to deductions with respect to the sum paid by the assessee as an employer by way of i.t.a. ..... by the finance act, 2003, the second proviso to section 43b of the act has been deleted and th first proviso to section 43b has also been amended which is reproduced herein above. ..... a short question which arises for determination in this batch of civil appeals is whether omission (deletion) of the second proviso to section 43b of the income-tax act, 1961, by the finance act, 2003, operated with effect from 1st april, 2004, or whether it operated retrospectively with effect from 1st april, 1988?".21. ..... no.244 of 2014 7 therein were with respect to the employer's contribution to the pf account under sec.43b, and whether the amendment brought to sec.43b as per the finance act, 2003 with effect from 01.04.2004 was curative or amendatory and whether it was retrospective or prospective in operation. .....

All Kerala Chartered Accountants Association Vs. Union of India (Uoi)

Court : Kerala

Reported in : (2002)176CTR(Ker)268; [2002]258ITR679(Ker)

..... is an association of chartered accountants in kerala registered under the travancore cochin charitable societies act, which impugns the service tax levied on its members by reason of sections 64 to 96 of the finance act, 1994, (32 of 1994), as amended by finance act, 1998 (2 of 1998).background of the levy : as an off-shot of ..... he has obtained from the council a certificate of practice and that every such member shall pay such annual fee for his certificate as may be prescribed on the prescribed dates under section 65(31) of the finance act, 1998, the definition of 'practising chartered accountant' means a person who is a member of the institute of chartered accountants of india and is holding a certificate of practice granted under the provisions of the ..... v of the finance act, 1994, as amended by the finance act of 1998, deals ..... dealing with the levy of service tax, the definition of practising chartered accountants as given in section 65(31) in chapter v of the finance act, 1998 alone would be determinative. ..... 1956);or (viii) certification in form i that the whole of the amount remaining unpaid or unclaimed for a period of three years from the date of transfer to the special account under sub-section (1) and sub-section (2) of section 205 a of the companies act, 1956 (1 of 1956) has been transferred to the general revenue account of the central government under the companies unpaid dividend (transfer to general revenue account of the central government) rules, 1978 .....

New Traders Vs. State of Kerala

Court : Kerala

Reported in : [2001]123STC82(Ker)

..... state of kerala [1994] 94 stc 95, this court held that the legislation, in giving retrospectivity to the finance act, 1987, was in no way unreasonable, nor did it make any inroads into the dealer's fundamental or other rights ..... the contention urged by them is that a declaration was published under section 3 of the kerala provisional collection of revenues act, 1985 by virtue of which, the provision in the finance bill, 1998 by which, the purchase tax at the last point of sale with regard to the coffee was levied. ..... there cannot be any doubt that in so far as the finance act authorises levy at the first point of sale, petitioners cannot contend that the act cannot be enforced against them. ..... under section 4(2), a declared provision contained in a bill shall cease to have the force of law under the provisions of this act (a) when it comes into operation as an enactment with or without amendment. ..... since the bill has been amended and the old entry has been restored, the petitioners cannot argue that because it was collected from some other persons for the relevant period, it cannot be collected from them ..... section 5 says that where a declared provision comes into operation as an enactment in an amended form before the expiry of the period referred to in clause (c) of sub-section (2) of section 4, refunds shall be made of all taxes, duties, cesses, fees and other revenues collected which would not have been collected if the provision adopted in the enactment has been the declared provision. .....