Judgment Search Results Home > Cases Phrase: finance act 1992 section 67 amendment of section 187 Court: kerala Page 6 of about 279 results (0.149 seconds)

South Indian Bank Ltd. Vs. Cit

Court : Kerala

Reported in : [2003]130TAXMAN749(Ker)

..... (viia) as it stood prior to the amendment made by the finance act, 1985 reads as follows :'36 other deductionsthe deductions 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** ** **(vii) subject to the provisions of sub-section (2), the amount of any debt, or part thereof which is established to have become a bad debt in the previous year;(viia) in respect of any provision for ..... (viia) as it stood after the amendment made by the finance act, 1985 reads as follows :'(1) the deductions 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*** *** ***(vii) subject to the provisions of sub-section (2), the amount of any bad debt or part thereof which is established to have become a bad debt in the previous year :provided that in the case of a bank to ..... an amount not exceeding two per cent of the aggregate average advances made by the rural branches of such bank, computed in the prescribed manner;clause (viia) had again undergone a change, by the income tax (amendment) act, 1986 from 1-4-1987, the relevant portion of which reads as follows :'(viia) in respect of any provision for bad and doubtful debts made by :(a) a scheduled bank not being a bank incorporated by or under ..... respect of the assessment years 1987-88 to 1992-1993 and the remaining seven appeals are ..... 1987-88, 1988-89 and 1992-93. .....

Sea Pearl Enterprises Vs. Deputy Commissioner of Income Tax

Court : Kerala

Reported in : (2006)204CTR(Ker)81

..... , 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 1st april, 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 ..... the supreme court while upholding the amendment to section 80p of the act with retrospective effect from 1st april, 1968 in national agrl. co-op ..... : [2003]260itr548(sc) upholding the validity of retrospective amendment to section 80p of the act, the impugned amendments are valid. ..... interest levied on petitioners is not consistent with the law as stated by the patna high court confirmed by the supreme court in the abovereferred 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 expln. ..... in other words, even prior to the amendment interest was being charged under section 234a and section 234b on assessed income and not on income returned by the assessee ..... standing counsel reported that, practically no case was reopened in kerala based on the amendment because interest originally levied based on the unamended provisions were also with reference to assessed income .....

C.C.E. Vs. Kerala State Electricity Board

Court : Kerala

Reported in : (2008)214CTR(Ker)97; 2006(4)KLT749; 2006[3]STR625; (2007)5VST46(Ker)

..... 1,38,21,517/- should not be demanded from them under section 73 (a) of the finance act, 1994 as amended and interest at the appropriate rate under section 75 and why separate penalty should not be imposed under sections 75a, 76, 77 and 78 for non-registration, non-payment of service tax, non-filing of return and suppression of value of taxable service respectively.5. ..... as per clause (g) of sub-section 105 of section 65 of the finance act, 1994 as amended, the taxable service rendered by a consulting engineer has been defined as any service provided to a client by a consulting engineer in relation to advice consultancy or technical service in any manner to a client in one or more disciplines of engineering. ..... 1000/- under section 75a and 77 of chapter v and va of the finance act, 1994 as amended for non registration and for not filing st-3 returns as prescribed.7. ..... as per section 65(31) of the finance act, 1994 as amended, consulting engineer means any professionally qualified engineer or an engineering firm who, either directly or indirectly renders any advice, consultancy or technical assistance in any manner to a client in one or more disciplines of engineering. ..... the central government in exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the finance act, 1994 made the service tax rules, 1994 for the purpose of assessment and collection of service tax. .....

Janatha Tile Works Ltd. Vs. Commissioner of Income Tax

Court : Kerala

Reported in : (2006)202CTR(Ker)103; [2006]283ITR35(Ker); 2006(2)KLT426

..... due respect, find ourselves unable to agree with the principles laid down by the high courts of gujarat, calcutta and delhi since those courts have failed to examine the effect of insertion of the words 'sub-section (3) of section 143' in clause (b) of section 143(1a) by the finance act, 1992 (18 of 1992) w.e.f. ..... in order to meet this situation, sub-section (3) to section 143 was incorporated by the finance act, 1992 w.e.f. ..... or loss declared in the return made by the firm, association or body, as the case may be, or as a result of an order made under sub-section (3) of this section or section 144 or section 147 or section 154 or section 155 or sub-section (1) or sub-section (2) or sub-section (3) or sub-section (5) of section 185 or sub-section (1) or sub-section (2) of section 186 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264, or any order of settlement made under sub-section (4) of section 245d, passed subsequent to the filing of the return referred to in clause (a), there is any variation in his share in the income or loss of the ..... 1st april, 1989 by the direct tax laws (amendment) act, 1989 and subsequently amended w.e.f. ..... it is unnecessary to scan through the various amendments for answering the questions posed in this case; however we may extract the relevant provisions which are necessary to answer the questions.7. .....

CochIn Shipyard Limited Vs. Union of India

Court : Kerala

..... iii) penalty should not be imposed on them under section 77 of the finance act, 1994 as amended for failure to take w.p.c. no. ..... ii) interest at the appropriate rate on the amount of service tax payable, should not be charged and recovered from them under section 75 of the finance act, 1994 as amended. ..... iv) penalty should not be imposed on them under section 78 of the finance act 1994 for suppressing the value of the taxable service with intent to evade payment of service tax by suppressing facts and by willfully misstating the facts. ..... ) [st rs.44,92,870/-, ed.cess rs.89,858/- and s.h.ed cess rs.44,372/-] for the services provided in the category of commercial training or coaching for the period from 01.04.2007 to 31.12.2008 should not be demanded and recovered from them under proviso section 73(1) of finance act, 1994. ..... as such, there is clear exclusion by virtue of the mandate with reference to section 65(27) of the finance act, 1994.4. ..... 16581 of 2013 -3- registration under section 69 of the act ibid. ..... union of india represented by its revenue secretary ministry of finance, new delhi 11 004.2. ..... 16581 of 2013 (w) ---------------------------- petitioner(s): -------------------------- cochin shipyard limited perumanoor p.o, kochi 68 015 represented by its director (finance) mr.ravikumar roddam. .....

Centre for Development of Imaging Technology(C-dit) Vs. the Commission ...

Court : Kerala

..... prima facie the matter regarding limitation to issue demand notice as contemplated under section 73 of the finance act came up for consideration and at paragraph 6 of the order of the tribunal, without discussing anything with reference to the date of demand notice and the provisions of section 73, the tribunal opined that the demand is in time, is the contention of the ..... accordingly, we set aside the order dated 19.8.2013 directing the tribunal to consider section 73 of the finance act with reference to the date of demand and other relevant facts so cea.8/13 4 far as the present case is concerned and then proceed with the conditional order of ..... section 73(1) of the finance act reads as under: "where any service tax has not been levied or paid or has been short levied or short paid or erroneously refunded, the central excise officer may, within one year ..... section 73(1) of the finance act refers cea.8/13 2 to limitation within which a demand could be made calling upon the assessee to ..... the provisions of this chapter or (f) of the rules made there under with intend to evade the payment of service tax cea.8/13 3 by the person chargeable with service tax or his agent, the provisions of this sub section shall have effect, as if, for the words 'one year', the words 'five years' had been substituted." 3. ..... therefore, the issue of limitation as provided under section 73 read with the proviso is very relevant and unfortunately, nothing is said about this aspect of the matter in the .....

Commissioner of Income-tax Vs. Asian Techs Ltd.

Court : Kerala

Reported in : [1999]240ITR396(Ker)

..... initiated under section 154 by the assessing officer who deducted the amount of depreciation granted under section 32(1)(iv) from the written down value of the assets and on that basis depreciation was granted for the assessment year 1984-85, in the light of the amendment to section 32(1)(iv) by the finance act, 1983. ..... we are of the view that the effect of deletion of the underlined portion of clause (iv) of section 32(1) by the finance act, 1983, will have effect only in cases where initial depreciation under clause (iv) is granted in respect of specified assets with effect from ..... but, on further appeal, the tribunal held that the deletion of a portion of clause (iv) of section 32(1) of the finance act, 1983, would only cover cases where initial depreciation was granted in respect of the specified assets with effect from april 1, 1984, and it will not cover the case of an asset on which ..... it is true that going by the circular the amendment brought under the finance act, 1983, would apply in computing the written down value of such buildings for the assessment year 1984-85, even though initial depreciation under clause (iv) had been allowed in the assessment year 1983 ..... the finance act has amended this clause to provide that the initial depreciation allowed in respect of any such building will be taken into account in determining its written down value ....22.5 these amendments take effect from 1st april, 1984, and will, accordingly, apply in relation to the assessment year 1984 .....

Commissioner of Income-tax Vs. Kishorekumar Shamji

Court : Kerala

Reported in : (2000)161CTR(Ker)225; [2000]244ITR702(Ker)

..... an explanation was inserted at the end of sub-section (1) of section 271 by the said finance act (section 40 of the finance act, 1964). ..... originally, the word 'deliberately' existed which was omitted by the finance act, 1964, with effect from april 1, 1964. ..... a conspectus of the explanation added by the finance act, 1964, and the subsequent substituted explanations makes it clear that the statute visualised the assessment proceedings and penalty proceedings to be wholly distinct and independent of each other. ..... in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the quantum of tax sought to be avoided under the then existing provisions. ..... four explanations were substituted for the explanation introduced by the finance act, 1964. ..... there are three stages of amendment of section 271(1)(c). ..... subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). ..... the effect of the said amendment, so far as we are concerned, is that where, in respect of facts material to the computation of the total income of the assessee, he furnishes no explanation, or he cannot substantiate the explanation offered by him or the explanation offered by him is found to be false, the ..... the effect of the amendment with effect from april 1, 1976, is that a deemed provision was introduced. .....

Kerala Textile and Garments Dealers Welfare Association, represented b ...

Court : Kerala

..... i now turn to the challenge in the writ petitions against the assessments made under section 6a of the kvat act for the period between 01.04.2014, when the provisions were introduced through the kerala finance bill, 2014, and implemented through a declaration under section 3 of the kerala provisional collection of revenues act, 1985, and 23.07.2014 when the declared provisions came into force as an enactment the kerala finance act, 2014 - in an amended form. ..... the argument that the amendment in the kvat act, through the kerala finance act, 2015, which had the effect of omitting the provisions of section 6a from the kvat act, should be seen as curative in nature and, therefore, retrospective in its operation. 21. ..... the petitioners would urge that the provisions of section 6a of the kvat act have been omitted with effect from 01.04.2015, through the amendment brought about by the kerala finance act, 2015. ..... (ix) as the law was in a state of flux during the year 2014-2015, and there were amendments made to the provisions of the kerala finance bill, 2014 while it matured into the kerala finance act, 2014, the non-compliance with the provisions of the act during the said period could not have visited the dealers with penal consequences as it could not be said that there was any willful default committed by the dealers with a view to ..... going by the express provisions of the finance act, 2015, i find that the omission of section 6a of the kvat act was to take effect only from 01.04.2015 .....

Commissioner of Income-tax Vs. Kerala Electric Lamp Works Ltd. and Cro ...

Court : Kerala

Reported in : (2003)183CTR(Ker)182; [2003]261ITR721(Ker)

..... . the word 'record' has been given a wider interpretation as per the finance act, 1989, with effect from june 1, 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 included all records relating to any proceeding under this act available at the time of examination by the commissioner' has been noticed ..... 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 in 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 april 1, 1979, as follows :'for the removal of doubts, it is hereby declared that income of the nature referred to in this clause payable for service rendered in india shall be regarded as ..... menon, learned standing counsel appearing for the revenue, the explanation inserted by the amendment to section 32 by the finance act, 2001, with effect from april 1, 2002, would take us back to the position that whether or not the assessee claimed the deduction in respect of the depreciation, section 32 would apply. ..... patton : [1992]193itr49(ker) , considered the effect of the explanation to section 9(1)(ii) of the income-tax act. ..... . patton : [1992]193itr49(ker) , the effect of the explanation and whether the same is retrospective has to be understood from the language of the section itself.13 .....