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Commissioner of Income-tax Vs. Texmaco Ltd.

Court : Kolkata

Reported in : (1982)29CTR(Cal)64,[1983]141ITR531(Cal)

..... by an amendment introduced retrospectively by section 6 of the 2nd finance act, 1965, a proviso was added which stipulates as follows :'provided that in determining the written down value in respect of buildings, machinery or plant for the purposes of clause (ii) of subsection (1) of section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub-clauses (a), (b) and (c) of clause (vi) of sub-section (2) of section 10 of the indian income-tax act, 1922 (xi of 1922), where such depreciation was not deductible in determining the written down value for the purposes ..... by the amendments made by the income-tax (amendment) act, 1946, the finance act, 1955, and the finance act, 1956, certain initial depreciation was allowed in respect of bnildings newly erected or the machinery and plant newly installed. ..... all these new forms of allowances came into force later and particularly the allowance of initial depreciation was introduced by the indian income-tax (amendment) act (8 of 1946), but the words in section 10(5) denning ' written down value ' to include in the case of assets acquired before the previous year, all depreciation actually allowed to an assessee continued to operate throughout. ..... the purpose of this amendment has been explained in the notes on clauses of the finance act no. ..... act, 1992, would not be deductible. .....

M/S. Pancea Biotec Ltd. Vs. Cce, Delhi-ii

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

..... counsel further submitted that cenvat credit rule 6(3) was amended vide finance act, 2010 retrospectively and by way of said amendment an option was given to the manufacturer of dutiable or exempted goods not to maintain separate account for inputs that he should pay an amount equal to 8% of value of exempted goods or pay an amount as determined under sub-rule 3a. ld. ..... shri nagesh pathak, learned dr for the revenue has fairly conceded that in view of retrospective amendment brought into cenvat credit rules vide finance act, 2010, the appeal needs to be remanded back to the adjudicating authority for de novo adjudication in the light of the rule 6 of cenvat credit rules as amended by finance act, 2010. 8. ..... as such, he is entitled to the benefit of the amendment brought in by the finance act, 2010. ..... , new delhi, the appellant herein, is engaged in the manufacture of pharmaceutical products falling under chapter heading 3003.10 of the schedule to the central excise tariff act, 1985. .....

Director of Income Tax-ii Vs. Ohm Limited

Court : Delhi

..... . the other amendments which we have to notice is that the second proviso to section 44da was inserted by the finance act, 2010, ..... to a person referred to in article 314 of the constitution or to a person who, having been appointed before 15th day of august, 1947, to be a judge of the federal court or of a high court within the meaning of the government of india act, 1935, continues to serve on or after the commencement of the constitution as a judge in india.7. when section 44bb was first inserted by the finance act, 1987 with retrospective effect from 01.04.1983, it was applicable to all assessees irrespective of their residential status ..... other words, the amendment made by the finance act, 2010 w. ..... . by finance act, 1988, the provision was specifically confined in its applicability to non-residents only and the amendment made to that effect was also made with retrospective ..... second proviso to sub-section (1) of section 44da inserted by the finance act, 2010 w. ..... . section 44da was inserted by the finance act, ..... . the relevant portion of the order of the aar in the case of geofizyka torun (supra), which order was adopted and followed by it in its impugned order is as below: as already discussed, section 44bb which was inserted into the act with effect from april 1, 2004, is a special, specific and exclusive provision dealing with the computation of profits of nonresident assessees engaged in the business of providing services in connection with or supplying plant and machinery on hire .....

M.m. Aqua Technologies Ltd. Vs. Commissioner Of Income Tax, Delhi - Ii ...

Court : Supreme Court of India

..... 35.3 to curb this practice, the finance act has inserted a new section 43b to provide that deduction for any sum payable by the assessee by way of tax or duty under any law for the time being in force or any sum payable ..... section 43b(d), with which we are concerned, does not refer to the mode of payment, unlike proviso 2 to the said section, which was omitted by the finance act ..... out section 43b with explanation 3c, which was inserted by the finance act, ..... consideration received for the transfer is understated and since in such cases it is very difficult, if not impossible, to determine and prove the exact quantum of the suppressed consideration, sub-section (2) provides the statutory measure for determining the consideration actually received by the assessee and permits the revenue to take the fair market value of the capital asset as the full value of ..... section 43b was originally inserted by the finance act ..... established by the revenue that the consideration for the transfer has been understated or, to put it differently, the consideration actually received by the assessee is more than what is declared or disclosed by him, sub-section (2) is immediately attracted, subject of course to the fulfilment of the condition of 15 per cent or more difference, and the revenue is then not required to show what is the precise extent of the ..... the amendment to the section by way of an explanation in 1983 effected a change in the scope of that judicial definition so as to include with ..... amendment .....

Uniworth Ltd. Vs. Commissioner of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

..... of this section", occurring in the explanation to section 114a, which was added along with the provisos by section 81 of the finance act, 2000, will have reference only to section 81 of the finance act, 2000 and not to the other provisions of section 114a, it would suffice for us to observe at this stage that once the amendment was made in section 114a, by virtue of section 81 of the finance act, 2000, the explanation became part of section 114a and the expression "the provisions of this section" occurring in ..... the first clause of the explanation has an obvious reference to all the provisions of section ..... order are in the control of the customs authorities and, therefore, no such deposit of duty was required to be made under section 129e of the customs act for the hearing of the present appeal and further that the explanation to section 114a, which was inserted along with the provisos in section 114a, by virtue of section 81 of the finance act, 2000, did not apply and, therefore, penalty could not have been imposed under .....

SunwIn Technosolutions Pvt. Ltd. Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Reported in : (2007)7STT109

..... at the said centre, the appellant imparts training to the trainees in relation to computer software.training or coaching services provided to any person by a commercial training or coaching centre are taxable under sub-clause (zzc) of clause (105) of section 65 of the finance act, 1994 read with clauses (26) and (27) thereof.4.1 under notification no. ..... 5,79,644.00 (rupees five lakh seventy-nine thousand six hundred and forty-four) for the period relating to 11-9-2001 to 16-3-2005 under section 73 of the finance act, 1994, and imposed a penalty of rs. ..... but the department insisted on the appellant to register his company under section 69 of the finance act, 1994. ..... 1,000.00 (rupees one thousand) under section 77 of the finance act, 1994.4. ..... this is an application under section 35 of the service tax act, 1944 (sic) [central excise act], filed by the appellants to waive the pre-deposit of the service tax, interest and penally demanded and to grant stay of its recovery.2. ..... by virtue of the said amendment, clause (ii) was inserted. ..... dated 1-3-1997, which was amended by notification no. ..... the amendment is not clarificatory in nature, as held by the adjudicating authority. ..... subsequently the said notification was amended by notification no. .....

Ashwini Kumar Consultants (P.) Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1993)47ITD1(Delhi)

..... the operation of section 80hhc read with section 28, as amended by the finance act, 1990, can be illustrated by way of the following examples : (a) fob exports 100 100 100 100 (b) domestic sale - 50 100 200 (c) total turnover [(ia) + (ib)] 100 150 200 300 ------------------------------------ (assumed figures) 10 15 20 30(iii) ccs, ddk, i/l 10 10 10 10 total ..... the finance act, 1990, has amended section 28 by inserting therein, clauses (iiia), (iiib) and (iiic) with retrospective effect with a view to ensuring that cash compensatory support (ccs), duty drawback (ddk) and the profit on sale of import entitlement licences (i/l) shall be ..... he referred to the amendment to the section, that is effective from 1-4-1992, wherein, it was stated that, the turnover would have to exclude receipts like interest, commission and this having been made effective from 1-4-1992, indicating that, the intention of the lawmaker was not to exclude commission from the total turnover, before that ..... he addressed us on the several clarifications that have been issued by the central board of direct taxes and to the subsequent amendment to the section and pleaded that, till assessment year 1992-93, the intention remained to consider commission as part of the turnover of the business and on that basis, the claim as made by the assessee, for allowing of deduction of ..... 2) act, 1991, that was reported in [1992] 195 itr ..... ito [1992] 40 itd 36 (delhi), for the proposition that, commission could not be treated as .....

Commissioner of Income Tax Vs. Halliburton Offshore Services Inc.

Court : Uttaranchal

Reported in : (2004)192CTR(Uttranchal)507

..... this connection it may be noted that the explanation to section 9(1)(ii) introduced by finance act, 1983 refers to what constitutes 'income earned in india ..... whether, on the facts and in the circumstances of the case, the learned tribunal was justified in holding that interest under section 234b of the it act cannot be charged since the entire income of the assessee was subject to tds whereas this interest is chargeable on assessed tax as defined ..... that even under the finance act of 1999, the new explanation uses the term 'rest period/leave ..... the facts and in the circumstances of the case, the learned tribunal was legally justified in holding that the salary, paid to the assessee for the off period outside india was not chargeable to indian it act in terms- of section 9(1)(ii) of the it act, 1961, whereas the learned tribunal has itself held, vide order dt. ..... was introduced by finance act, 1983, w.e.f. ..... secondly, although section 191 of the act is not overridden by sections 192, 208 and 209(1)(a)(d) of the act, the scheme of sections 208 and 209 of the act indicates that in order to compute advance tax the assessee has to inter alia, estimate his current income and calculate the tax on such income by applying the rates ..... 0015/1980 : [1980]124itr391(guj) in which it was held that in order to attract section 9(1)(ii) of the act, liability to pay must arise in india, by the said explanation, the original intention under section 9(1)(ii) has been revived. ..... 25th march, 1992 in ita ..... /del/1992, .....

M/S. Mahabir Cold Storage Vs. C.i.T., Patna

Court : Supreme Court of India

Reported in : AIR1991SC1357; (1991)91CTR(SC)89; [1991]188ITR91(SC); JT1990(4)SC754; 1990(2)SCALE1226; 1991Supp(1)SCC402; [1990]Supp3SCR469

..... development rebate was first introduced by the finance act, 1955 with effect from 1st april, 1955, clause (vib) of sub-section (2) of section 10 of the repealed act was introduced by section 8 of the said finance act, which was subsequently amended by section 7 of the finance act, 1958 with effect from 1st april, 1958 and then again it was amended by section 6 of finance act, 1961 with effect from 1st april, 1961 which is relevant for the purpose of this case ..... the question, at the instance of the revenue, to the high court under section 256(1) of the income-tax act, 1961 (for short 'the act') which reads thus:whether in the facts and circumstances of the case, the order of the tribunal holding that the conditions under section 33(1) of the income tax act are satisfied, is legal and proper. 3. ..... in interest of the business, in accordance with the provisions of the act, so long as the twin requirements under section 33(1) are fulfilled is alone entitled to the benefit. ..... prayagchand hanumanmal within the meaning of section 18 of the limitation act, 1963 and extend the period of limitation for the discharge of the ..... the appellant is separately registered under section 26a of the act and assessed to tax from the assessment year ..... :whether on me facts and in the circumstances of this case the order of the tribunal allowing the unabsorbed development rebate in respect of the plant and machinery not installed by the assessee, under section 33(1) of the income tax act was legal and proper. 2. .....

Additional Commissioner of Income-tax, Delhi-iii Vs. Joginder Singh

Court : Delhi

Reported in : ILR1983Delhi512; [1985]151ITR93(Delhi)

..... the finance act of 1968 amended the quantum of penalty that was imposable in cases of ..... question of law referred to this court is in the following terms : 'whether the tribunal was right in law in holding that the provisions of section 271(1)(c), before their amendment as and from april 1, 1968, were only applicable in the instant case ?' 8. ..... (1)(c) instead of repeating, over and over again, the formula 'conceals or furnishes inaccurate particulars of income' used in the section or referring specifically to all the situations covered by these words read with the several explanationns. 14. ..... question of law referred to us in this reference reads as follows : 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that minimum penalty under section 271(1)(c) of the income-tax act, 1961, would be livable under the law prior to 1-4-1968 ?' 9. ..... section 274(2) was amended to provide that the iac will be the authority to levy the penalty in cases where the amount of income in respect of which concealment was alleged exceeded the sum of ..... prima facie, the language of this sub-section is so wide as to cover practically any second return filed before the assessment is made and within the time ..... on the contrary, the section contains a provision for payment of interest where the return is filed beyond the prescribed date even though within the extended ..... section 274 originally provided that in cases of concealment where the minimum penalty imposable exceeded .....