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Tata Iron and Steel Company Ltd. Vs. State of Jharkhand and ors.

Court : Jharkhand

Reported in : [2003(4)JCR149(Jhr)]

..... learned counsel for the department, during the course of arguments, raised a contention that the petitioner has an efficacious alternative remedy by way of revision under section 46(2)(b) of the bihar finance act and the petitioner must be left to pursue that remedy. ..... 67 dated 12.1.2002, annexure-5, was also issued under section 13(1)(b) of the bihar finance act, whereas the first two notifications were pursuant to clause 28.1 of the jharkhand industrial policy, 2001, the last notification was pursuant to clause 28.2 of the said policy.6. ..... the tata iron, and steel company limited (tisco), an assessee to sale tax under the bihar finance act and claimed the benefit of the jharkhand industrial policy, 2001 and the notification issued pursuant thereto under section 22 of the bihar finance act. ..... 65, annexure-3 in exercise of power under section'22 of the bihar finance act, 1981. ..... this was followed by another notification anenxure-4, issued under section 23 of the bihar finance act, as so no. ..... after all, it was a question of interpretation of the jharkhand industrial policy, 2001, and the notifications issued in furtherance of it under sections 13 and 22 of the bihar finance act. ..... the petitioner company sought to challenge this order directly in this court, this court declined to entertain the writ petition and directed the company to invoke the revisional jurisdiction of the commissioner of commercial taxes, under section 46(4) of the bihar finance act. .....

Vishwakarma Industries Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Reported in : [1982]135ITR652(P& H)

..... must be held that the patent intent of the legislature in amending section 271(1)(c) and in inserting the explanation thereto by the finance act of 1964 was to bring about a change in the existing ..... from the above that because of the designed amendments which were wrought in section 271(1)(c) by the finance act of 1964 and the insertion of the explanation thereto, the reasoning of anwar ali's case : [1970]76itr696(sc) (which had construed the earlier and different provisions of section 28(1) of the 1922 act) would now no longer be applicable for the construction of section 271(1)(c) as amended.39. ..... it would appear that barring some marginal discordant notes there appears to be a near unanimity of authority for the view that the added explanation to section 271(1)(c) introduced by the finance act of 1964 was intended to make a clear change in the earlier law and had spelled out a categoric rule of evidence raising three rebuttable presumptions against the assessee in cases where ..... the word 'deliberate' was omitted by the finance act of 1964 which came into force on 1st april, 1964, clause (c) as it stood after the amendment provided that the assessee has concealed the particulars of his income or has furnished ..... an onerous burden placed on the department (under the unamended provision and the interpretation placed thereon by some of the high courts) that the legislature was ultimately compelled to bring in the amendment by way of adding the explanation by the finance act of 1964. .....

Commissioner of Income-tax Delhi-iv Vs. Sat Parkash Agarwal

Court : Delhi

Reported in : [1983]140ITR880(Delhi)

..... act of 1965 it was at all open to the department to examine the genuineness of the deposits afresh in the case of the present assessed though he was not a declarant under the finance act. ..... as required by the finance act, above refereed to, these declarations were accepted by the cwt and taxes were paid in accordance therewith as contemplated by ..... called upon to explain the nature and source of the above credits the assays relied upon the disclosures that had been made under the finance act of 1965. ..... of the said finance act. 3. ..... questions read as follows: '(1) whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the provisions of section 68 of the income-tax act, 1961, were not attracted in regard to unexplained cash credits of rs. ..... , the aac and the tribunal have all proceeded on the footing that the credits are referable to the amounts declared under the finance (no. ..... in the books of account of the assessed in april, 1966, and july 1966, it should be taken that the assessed has not established the link between the amount that was disclosed under the finance (no. ..... acceded to his request but for the fact that we have come to the conclusion that even on the assumption that it is open to the department to examine the position independently of the declarations made under the finance (no. ..... aspect is as to whether in view of the discloses having been made under the finance (no. ..... as the binding nature of the declaration made under the finance (no. .....

Morgan Vs. Inland Revenue Commissioners.

Court : Kolkata

Reported in : [1963]49ITR59(Cal)

..... contingent upon peter surviving the deceased but neither before nor after the death of the deceased had they any beneficial interest in the shares and it is only with beneficial interests that section 2(1) (d) of the finance act, 1894, is concerned.that peter by the exercise of conveyancing ingenuity has been able to avoid the payment of estate duty on his fathers estate which would otherwise have been exigible does ..... this argument on the part of the subject seems to me dangerous from his point of view, for if peter had an unfettered power of revocation, it might well be argued that having regard to section 22 (2) (a) of the finance act, 1894 on the settlors death peter became absolutely and indivisibly competent to dispose of the property but i say no more about for we really heard no argument on this aspect of the case from the ..... it is conceded that this would have been a beneficial interest accruing or arising by survivorship or otherwise on the death of the deceased and would by virtue of section 28 of the finance act, 1934, have attracted estate duty on the full value of the shares since that section provides that the extent of the beneficial interest accruing or arising shall be ascertained without regard to any interest in expectancy the beneficiary may have had therein before the ..... april 18 of this year when the held that no claim to duty arose under section 2 (1) (d) of the finance act, 1894, upon the death of the settlor, henry frederick stanley morgan, who died on .....

Kbace Tech Pvt. Ltd. and Others Vs. Cce/Cst, Bangalore and Others

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... for the credit of duty paid or deemed to have been paid on the goods used in, or in relation to the manufacture of excisable goods, (xviaa) provide for credit of service tax leviable under chapter v of the finance act, 1994 (32 of 1994) paid or payable on taxable services used in, or in relation to, the manufacture of excisable goods, (xxviii) provide for the lapsing of credit of duty lying unutilized with the manufacturer of specified excisable ..... cenvat credit rules, 2004, which have been framed invoking the statutory rule making powers conferred under section 37 of the central excise act, 1944 and section 94 of the finance act, 1994. ..... any power under section 94 of the finance act, 1994, for ..... the central government in exercise of the powers conferred by section 37 of the central excise act, 1944 and section 94 of the finance act, 1994. ..... and provision of subsidized canteen forms part of cost of production as evident from para 4.1 of cas-4 - mandatory on part of factories to provide canteen facility and failure attracts prosecution and penalty under section 92 of factories act, 1948 - service tax on outdoor catering service paid by manufacturer whether subsidised food provided or not - cost of food forms part of expenditure incurred having bearing on cost of production - outdoor caterer ..... the board s circular dated 19.01.10 cited before us does not have the effect of amending the statute and cannot be seen as authorizing sanction of refund if the credit of service tax does ..... 187 .....

Commissioners of Inland Revenue Vs. City of Glasgow Police Athletic As ...

Court : House of Lords

..... decision of the court being framed as follows:' the question of law for the opinion of the court is whether the city of glasgow police athletic association is, within the meaning and for the purposes of section 30 of the finance act, 1921 (as amended by section 24 of the finance act, 1927), a charity, namely a body of persons established for charitable purposes only. ..... lordships did not address themselves to a discussion and decision of the question of law submitted for their opinion, whether the city of glasgow police athletic association is, within the meaning and for the purposes of section 30 of the finance act, 1921 (as amended by section 24 of the finance act, 1927) a charity, namely a body of persons established for charitable purposes only. ..... my lords, the respondents claim that they are entitled to exemption from income tax under section 30 of the finance act, 1921, as amended by section 24 of the finance act, 1927. ..... association is such a body, it is not disputed that the profit of 1,214 resulting from its annual amateur sports meeting, held during the year ending 30th september, 1950, is exempted from income tax by section 30 (1) (c) of the finance act, 1921 as amended by section 24 of the finance act, 1927. ..... it is agreed that the profits of a trade, namely the holding of annual athletic sports, carried on by them, will be exempt from income tax under schedule d, by virtue of section 30 (1) (c) of the finance act, 1921, as amended by section 24 of the finance act, 1927. .....

Jones (Respondent) Vs. Garnett (Her Majesty's Inspector of Taxes) (App ...

Court : House of Lords

..... true of sections 660a and 660b of the income and corporation taxes act 1988 as amended by the finance act 1995. 42 ..... as long ago as 1940, in commissioners of inland revenue v payne (1940) 23 tc 610, sir wilfred greene mr discussing a somewhat more simply drafted statutory predecessor of the sections in question here, namely section 38 of the finance act 1938, said this, at p 626, in relation to a scheme whose details are not of significance for present purposes: "the word 'arrangement' is not a word of ..... "settlement" ("includes any disposition, trust, covenant, agreement, arrangement or transfer of assets") appeared for the first time in subsection (9)(b) of section 21 of the finance act 1936 (provisions as to income settled on children), which was capable of applying to covenanted payments as well as to the income of settled property ..... on the first issue is whether there was an "arrangement" falling within the ambit of sections 660a (1) and 660g (1) when one of the two subscriber shares in arctic systems ltd ("the company") was transferred to mrs jones on 11 august 1992, in the circumstances explained by lord hoffmann. ..... light of reasonable expectations as to what mr jones would achieve in terms of winning contracts for the company and would be prepared to accept by way of remuneration (which expectations were in due course fully realised), the value in 1992 to mrs jones of her share was considerably greater than the 1 which she paid. ..... was made redundant in 1992, he decided to .....

Satya Developers Pvt Ltd. and Another Vs. Pearey Lal Bhawan Associatio ...

Court : Delhi

..... section 83 of the finance act 2007 though a legislation by incorporation also takes care of non-applicability of future amendments as it provides for applicability of the relevant sections of the central excise act 1944 as in force from time to time i.e. ..... thus as a legislation by reference sub-section (2) of section 64a of the sales of goods act making applicable sub-section (1) of section 64a to any duty of customs or excise on goods and as a legislation by incorporation section 83 of the finance act making applicable section 12b of the central excise act to service act, section 64a(1) is applicable to service tax. ..... with effect from june 01, 2007 the central government by amending chapter-v of the finance act, 1994 levied service tax on renting of immovable property for business purposes. ..... learned counsel for hdfc bank contends that section 68 (2) of the finance act provides that notwithstanding anything contained in sub-section (1) the central government is empowered to notify in the official gazette the service tax on taxable services, as notified, to be paid by such person and in such a manner as may be prescribed. ..... thus section 83 of the finance act is a legislation by incorporation applying inter alia section 12b of the central excise act to the service tax. ..... section 68 of the finance act, 1994 and 1997 provided for collection of service tax which term has been changed by the finance act of 1998 and the liability has been fixed on the service provider to pay the service tax .....

C.c. C.e. And S.t. Bangalore (adjudication) Vs. M/s Northern Operating ...

Court : Supreme Court of India

..... it was a taxable service and not excluded by virtue of amended section 65 of the finance act, 1994. ..... union of india19, which held that rule 5(1) of service tax (determination of value) rules, 2006 goes beyond the mandate of section 67 of the finance act, 1994 as quantification of the value of the service can never exceed the gross amount charged by the service provider for the service provided ..... sridharan, learned senior counsel appearing for the assessee urged that a conjoint reading of section 65(68) with section 65(105)(k) of the finance act, 1994 makes it clear that the 'manpower recruitment and supply agency service' seeks to bring under its ambit two types of ..... it was contended that post july 2012, under the negative list regime, by section 65 (44) of the finance act, 1994, the services provided by an employee to the employer in the course of employment are kept beyond the ambit of the definition of ..... collector of central excise40 - in the context of section 11a of the central excise act, 1944, which is in identical terms with section 73 of the finance act, 1994 was that: now so far as fraud and collusion are concerned, it is evident that the requisite intent ..... before amendment of the finance act, its provisions, to the extent they are relevant, are ..... of the finance act, 1994 with amendments 30. ..... the period after the introduction of the negative list, the definition of the term service under the finance act, specifically excluded service provided by the employee to the employer. .....

Poddar Pigments Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2003)(155)ELT484TriDel

..... of admissibility of modvat credit in respect of hsd oil as input or capital goods during the period december, 1997 to march, 1998, coming within the period covered by section 112(1) of the finance act, stands squarely covered against the appellants by the above provisions. ..... in view of clause (b) of sub-section (2) of section 112 of the finance act, 2000, no interest was liable to be paid by the appellants who reversed the modvat credit within 30 days from the date ..... sub-section (1) of section 112 of the finance act, 2000 placed a bar on availment of modvat credit on hsd oil for the period 16-3-95 to the date on which the act received the assent of ..... explanation to section 112 of the finance act is clear ..... present appeal filed by the assessee against the order of the lower appellate authority, they rely on the provisions of the finance act, 2000 and submit that they had no penal liability in the facts and circumstances of the case. ld. ..... counsel for the appellants refers to the provisions of the finance act and prays for setting aside the penalty as well as the demand ..... is not in dispute that the finance act received the presidential assent on 12-5-2000 ..... clause (b) of sub-section (2) of section 112 ibid provided for the recovery of any such credit of duty as barred under sub-section (1) being made within a period of 30 days from 12-5-2000 and further provided that, in the event of non-payment of such credit of duty within the said period of 30 days, interest shall be recovered @ .....