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Assistant Commissioner of Income Vs. Grasim Industries

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2002)82ITD158(Mum.)

..... . section 40a(7) was introduced in the act with retrospective effect from 1st april, 1973, by the finance act, 1975 on 12th may ..... the cit(a), in quantum appeals, had confirmed the disallowance of depreciation on the written down value (wdv) of scientific research assets on which deduction had been allowed under section 35 of the act for the assessment years under consideration.cit(a) had confirmed the disallowance subject to the decision of the bombay high court/supreme court. ..... . the supreme court answered the third question also against the assessee on the same ground that the 1980 amendment had effected no change at all in the provision except to set out more clearly and categorically what the provision said even ..... to the above facts the cit(a) ought to have considered the amendment to section 35(2) (iv) of the it act with retrospective effect from 1st april, 1962 wherein no depreciation is to be granted under section 32 where deduction has been granted under section 35 of the act." 2. ..... further submitted that section 35(2)(iv) stood amended by the finance (no. ..... such a result is necessarily involved in the legal fiction about the retrospective operation of the amendment act".we, in the present proceedings, are placed in almost a similar position as the ao was placed in the above case and hence, the order of the cit(a) under section 154 has to be reversed.17 ..... union of india (1992) 199 ttr 43 (sc) and hence the order of the cit(a) had to be ..... (1991) 187 itr 517 (bom) and also in the case of .....

National Rayon Corporation Ltd. Vs. G.R. Bahmani, Income-tax Officer, ...

Court : Mumbai

Reported in : [1965]56ITR114(Bom)

..... to the assessment year 1956-57 in excess of 6 per cent of paid-up capital, the provisions of sub-clause (a) of clause (i) of the second proviso to paragraph d of part ii of the first schedule of the finance act, 1957, were not attracted inasmuch as in the previous year relating to the assessment year 1956-57 the petitioner-company's total income was found to be nil; there was, therefore, no question of calculating any tax or super- ..... as the case may be, computed ashereunder : -(a) on that part of the sum arrived at in the wholeaccordance with clause (i) of the second amount ofproviso to paragraph d of part ii of the such partfirst schedule to the finance act, 1956,as is referable to that amount of.......dividends, as the case may be, which hasnot been deemed to have been taken intoaccount, in accordance with clause (ii)of the said proviso, for the purpose ofreducing the rebate mentioned therein ..... in law is clear and self-evident, and on a mere reading of sub-clause (a) of clause(i) of the second proviso to paragraph d of part ii of the first schedule to the finance act of 1957 and ascertaining the facts on record, it is self-evident that the order made by the income-tax officer is the one which rectifies an obvious error of law. ..... conditions of section 55 of the indian income-tax act were satisfied super-tax was levied at a certain rate mentioned in the finance act. ..... the law was subsequently amended giving retrospective effect to it by ..... according to the amended provisions the amount .....

20 Microns Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... , deleted all the sub headings under heading 25.05 with the result the statue book contained only the main tariff heading 25.05 with the enactment of finance act 1995, which was also the position prior to the enactment of finance act 1990.2.7 during the period 1990 to 1995, the sub heading 2505.10 read as underheading no sub heading no description of goods25.05 mineral substances, not elsewhere specified (including clay, earth colours, natural ..... plea that in any event, the demand made pursuant to the show cause notice dtd 16th september, 2003 for the period 7th february, 2000 to 6th october, 2001 is barred under section 11a of the act & the only ground on which the larger period is invoked is that the appellants did not declare in the declaration that they manufacture calcined china clay and only declared the china clay ..... begins with the expression "except where the context otherwise requires "this expression was introduced by the finance act 1990 simultaneously with the specific enumeration of calcined china clay in heading 2505.10. ..... portion of the subheading 2505.10 of the tariff as it stood after enactment of finance act 1990 and before enactment of finance act 1995 was pari materia with heading 25.07 of hsn. ..... put this principle on a firm statutory basis, note 2 itself appears to be amended by addition of the expression, except where the context otherwise requires. ..... 16.3.1995, notification no 7/92 dtd 1/3/92 as amended exempted all goods falling under heading or sub heading .....

Indian Hotels and Restaurant Association Represented by Its Treasurer ...

Court : Mumbai

..... it is stated that in exercise of the powers conferred under section 93(1) of the finance act 1994, the government of india, amended with effect from 1.5.2011 the notification number 1/2006 service tax dated 1.3.2006, exempting the taxable services of the description specified in column 3 of the table in the notification from so much of the service tax leviable thereon under section 66 of the finance act 1994, as is in excess of the service tax calculated on a value which is equivalent to the percentage specified in ..... while so, the central government by the finance act, 2011 made an amendment to chapter v of the finance act 1994, relating to service tax, inserting sub-clause (zzzzv) to clause 105 of section 65, thereby, including one more category ..... sought to be made exigible to service tax by way of amendments to section 65 of the finance act. ..... in the present case, service tax levied on services rendered by mandap-keeper as defined in the said act under sections 65, 66 and 67 of the finance act has been challenged by the appellants on the following two grounds: a) that it amounts to the tax on land and, therefore, by reason of entry 49 of list 2 of the seventh schedule of the constitution, only the state ..... and providing facilities during the course of letting out mandapam to their clients, challenged the constitutional validity of sections 66, 67(o) of the finance act, 1994 and rule 2(1)(d)(ix) of the service tax rules, 1994 and other provisions related to kalyana mandapams. .....

Commissioner of Income-tax, Bombay City I Vs. Army and Navy Stores Ltd ...

Court : Mumbai

Reported in : (1957)59BOMLR518; [1957]31ITR959(Bom)

..... if, therefore, we place the same construction upon the proviso to section 11 (11) of the finance act of 1946 as the proviso in section 10 (1) of the finance act of 1942, the position of the assessee is equally the same, because there is no doubt that the profits which the assessee made or which it might make were liable to be assessed to excess profits tax in the united kingdom. mr. ..... then we come to the finance act of 1946, and section 11, sub-section (11) of that act provided that any sum being excess profits tax which had been repaid was to be deemed to be income of the previous of the indian income-tax act and was to be treated as income of the previous year which constituted or included the chargeable accounting period in respect of which the said sum was repayable. ..... if that is so, them the position of the assessee company vis-a-vis excess profits tax is the same under the proviso to section 10 (1) of the finance act of 1942 as under the proviso to section 11 (11) of the finance act of 1946. ..... but if that is the interpretation which has to be placed upon the proviso to the finance act of 1942, then the same interpretation should be put upon the proviso to section 11 (11) of the finance act of 1946. .....

The Khatau Makanji Spg. and Weaving Co. Ltd. Vs. Commissioner of Incom ...

Court : Mumbai

Reported in : AIR1956Bom733; (1956)58BOMLR885; ILR1957Bom22; [1956]30ITR841(Bom)

..... on income and the power of parliament is equally clear and that is to fix the rate at which income-tax is to be charged upon the total income of the previous year of the assessee.in our opinion, the provision of the finance act travels beyond the ambit of section 3, and if parllament has done so then no effective charge can be made on the total income of the previous year of the assessee under the provisions of the ..... 3, income-tax act, be cause what the finance act does is to effectuate as it were section 3, income-tax act, and when we turn to section 3, which is the charging section, it imposes a charge on the total income of the previous year of the assessee.the rate at which this charge is to be imposed is not laid down in the income-tax act at all-and, as section 3 provides, that charge has to be fixed; by the central act. ..... it is because of this that in-come-tax is levied at different rates under the relevant finance act.with regard to the additional tax on excess dividend, it is quite clear that, that tax is not levied with reference to any rate in relation to the total income of the assessee company, and the very short question that we have to consider and decide is whether it is open to parliament, looking to the language of section 3, to levy a tax upon an assessee at a rate which has no relation whatsoever .....

Indian National Shipowners' Association, a Company having Its register ...

Court : Mumbai

Reported in : 2009(5)BomCR369; 2009(111)BomLR1529; (2009)224CTR(Bom)197; [2009]17STJ255; 2009[14]STR289; [2009]19STT408; (2009)22VST293(Bom)

..... aggrieved by this action of the respondents, the petitioners filed the instant writ petition on 6/11/08 praying inter alia for a declaration that the taxing entry contained in section 65(105)(zzzy) of the finance act 1994 does not apply to marine logistic services provided by the members of the 1st petitioner. ..... the members of the 1st petitioner, legislative history of the two entries, various circulars to which, we have made reference and the relevant judgments which we have noted hereinabove lead us to hold that the entry contained in section 65(105)(zzzy) of the finance act, 1994 does not apply to services provided by the members of the 1st petitioner. ..... noticed by us hereinabove entry (zzzzj) was inserted into section 65(105) of the finance act, 1994 by the finance act 2008 with effect from 16/5/08. ..... (zzzzj) was inserted into section 65(105) of the finance act, 1994 by the finance act 2008 with effect from 16/5/08. ..... (zzzzj) was not inserted into the finance act by amending entry (zzzy). ..... pointed out that upon the insertion of entry (zzzzj), there was no amendment to the old entry (zzzj). ..... of new entry is not by way of amending the earlier entry. ..... counsel submitted that the introduction of entry (zzzzj) with effect from 16/5/08 emphasises that no tax was payable on marine logistic services prior to 16/5/08 because the new entry was not by way of amending the earlier entry.32. ..... the petitioners amended the instant petition inserting the necessary averments in relation to new entry ( .....

P.C. Joshi, Indian Citizen, A practicing Advocate and Others Vs. Union ...

Court : Mumbai

..... within 14 days of completion of services, the provisions of section 77 of the finance act 1994 and the provisions of section 89 of the finance act 1994 as inserted by the finance act 2011 to the extent they require advocates to issue invoices at all, to issue invoices within 14 days of the completion of assistance, relating to levy of penalty under section 77 of the finance act 1994 for not issuing of invoices and prosecution provisions under section 89 of the finance act 1994 to the extent they relate to requirement of issuing ..... petition under article 226 of the constitution of india, the petitioner, a practicing advocate prays for the following reliefs:- (a) declare the impugned provisions in section 65(105) (zzzzm) of the finance act, 1994 as inserted by the finance act, 2011 as null and void and ultra vires the constitution of india and/or section 66 of the finance act, 1994 and/or be pleased to strike down the said provisions as ultra vires, arbitrary and violative of articles 13, 14, 19(1)(g), 246, 265 and ..... writ in the nature of mandamus, or any other appropriate writ, order or direction, restraining the respondents themselves, by their servants, agents and subordinates from, directly or indirectly giving effect to or acting upon the impugned amendment or collecting service tax on the basis of section 65(105)(zzzzm) read with section 66 as substituted by finance act, 2011. ..... board of india act, 1992, insurance regulatory and development authority act and competition act etc. .....

The Commissioner of Income Tax Vs. Godaveri (Mannar) Sahakari Sakhar K ...

Court : Mumbai

Reported in : (2007)109BOMLR2273; (2007)212CTR(Bom)384; [2008]298ITR149(Bom)

..... which was made by the finance act of 1987 in section 43b inserting, inter alia, the first proviso was remedial in nature, designed to eliminate unintended consequences which may cause undue hardship to the assessee and which made the provision unworkable or unjust in a specific situation.it had been argued before the supreme court, that looking to the curative nature of the amendment made by the finance act of 1987, the proviso inserted by the amending finance act of 1987 should be given retrospective effect ..... and be read as forming part of section 43b from its inception ..... the first proviso was also amended by the finance act, 2003 with effect from 1st april, 2004 by omitting the following words:referred to in clause (a) or clause (c) or clause (d) or clause (e) or clause (f).the section as it stood before the finance act, 2003, treated payments in respect of tax, duty, cess or fee, payment made to an employee, as bonus or commission or services rendered as set out therein any sum payable by the assessee as interest on any loan or borrowing from any public .....

Commissioner of Income-tax, Bombay City - I, Bombay Vs. Army and Navy ...

Court : Mumbai

Reported in : AIR1958Bom23

..... if, therefore, we place the same construction upon the proviso to section 11 (11) of the finance act of 1946 as the proviso to section 10(1) of the finance act of 1942, the position of the assessee is equally same; because there is no doubt that the profits which the assessee made or which it might make were liable to be assessed to excess profits tax in the united kingdom. mr. ..... then we come to the finance act of 1946 and section 11, sub-section (11) of that act provided that any sum being excess profits tax which had been repaid was to be deemed to be income for the purposes of the indian income-tax act and was to be treated as income of the previous year which constituted or included the chargeable accounting period in respect of which the said sum was repayable. ..... if that is so, then the position of the assessee company vis-a-vis excess profits tax is the same under the proviso to section 10 (1) of the finance act of 1942 as under the proviso to section 11 (11) of the finance act of 1946. ..... but if that is the interpretation which has to be placed upon the proviso to the finance act of 1942, then the same interpretation should be put upon the proviso to section 11 (11) of the finance act of 1946. .....