Judgment Search Results Home > Cases Phrase: finance act 1994 section 37 amendment of section 143 Page 7 of about 28,353 results (0.467 seconds)

Jamnadas G. Hundalani Vs. Asstt. Cit and anr.

Court : Mumbai

Reported in : (2004)87TTJ(Mumbai)268

..... 2000]245itr849(bom) where their lordships have held that service charges received by the assessee do not constitute the business income for the purpose of computing export profits under section 80hhc, it was pleaded by the learned counsel that this decision may be applicable for the rental income from the warehousing but not in respect of other income.8. ..... the learned departmental representative on the other hand contended that in assessment year 1986-87 the assessment has been made under section 143(1) (a) and interest income earned by the assessee was excluded from business profits, the interest having been earned on surplus and, therefore, it cannot be related to the export income of ..... it was contended that though the issue for consideration of the supreme court was not under section 80hhc, but the word 'derived from' has been interpreted to mean the income, which originates from ..... their lordships of the bombay high court has held that for purposes of deduction under section 80hhc the profits derived from exports are such as have nexus with the export activity of ..... officer has assessed the same under section 143(1)(a) of the act. ..... 2 act of 1991 inserted by amendment is applicable prospectively and not ..... the aforementioned decision of special bench it was held that the clause (baa) to explanation to section 80hhc by the finance no. ..... assistant commissioner (1994) 50 itd 37 (del) (sb) it was contended that the income from commission on exports should be deemed to be the profits derived .....

Godfrey Phillips India Ltd. and anr. Vs. State of U.P. and ors.

Court : Supreme Court of India

Reported in : (2005)194CTR(SC)257; JT2005(5)SC587; (2005)2SCC515; [2005]139STC537(SC)

..... tobacco by a tobacconist made otherwise than by way of sale, the normal price at which the tobacco is sold, and the term 'normal price' shall have the same meaning as assigned to it in section 4 of the central excise and salt act, 1944; 2 (h) 'tobacconist' means:- (i) a manufacturer whose turnover of receipts in a year exceeds one lakh rupees who supplies tobacco by way of sale or otherwise and includes any person who for ..... and(b) in respect of the supply of luxuries of tobacco products made by him otherwise than by way of sale, the normal price at which such tobacco products are sold'.a tobacconist has been defined in section 2(kkk) as'tobacconist' means a person who supplies whether by way of sale or otherwise luxuries, like, tobacco products manufactured by him or purchased from other states or from other persons in this state and ..... act, 1915 act (as amended by the government of india acts 1916 and 1919) provided for the division of the country into provinces including the two presidencies of bengal and madras ( ..... rules were law corresponding to the provisions of the central excise & salt act, 1944 and were superseded by the finance act, 1950 ..... to the right to tax luxuries under this entry, we are concerned with the uttar pradesh tax on luxuries act, 1955, the andhra pradesh tax on luxuries act, 1987 and the west bengal tax on luxuries act, 1994. ..... in the sea customs act case (supra) which was rendered by this court in its advisory capacity under article 143 was concerned with .....

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

Court : Mumbai

..... the requirement of issuing such invoices 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 invoice within 14 days of completion of ..... this writ 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 268a of the constitution of ..... submitted that the said amendment also violates article 268-a of the constitution and contravenes section 66 of the finance act, 1994, which is the charging section. ..... amendment does not contravene section 66 of the finance act, 1994. ..... amendment does not violate article 268a of the constitution and does not contravene section 66 of the finance act, 1994. .....

M/s. Total Environment Building Systems Pvt Ltd. Vs. The Deputy Commis ...

Court : Supreme Court of India

..... requires reconsideration as in the said case it was held that service tax on composite works contract was not leviable prior to the amendment made to the finance act, 1994, in the year 2007, whereas according to her, in fact, it was leviable even prior thereto and the amendment made to the finance act, 1994, in the year 2007 by insertion of section 65(105)(zzzza) is only clarificatory in nature. ..... as already stated, the issue in these appeals relates to the levy of service tax on composite works contract prior to the amendment made to the finance act, 1994 in the year 2007 by which section 65(105) (zzzza) was introduced which gives the definition to the expression works contract. ..... hereinabove, the issue involved in the present appeals is, whether service tax could be levied on composite works contracts prior to the introduction of the finance act, 2007, by which the finance act, 1994 came to be amended to introduce section 65(105) (zzzza) pertaining to works contracts?.5. ..... involved in the present group of appeals is, whether, service tax could be levied on composite works contracts prior to the introduction of the finance act, 2007, by which the finance act, 1994 came to be amended to introduce section 65(105)(zzzza) pertaining to works contracts?.3. ..... india [(2004) 5 scc632, this court examined the question, whether, the inclusion of taxation on kalyana mandapams, within the tax net of section 66 and 67 of the finance act, 1994 as amended in the year 1996 was unconstitutional. .....

Jodhana Real Estate Development Vs. Assistant Commissioner of Wealth

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)54TTJ(JP.)552

..... as the assessee was aggrieved by the order of the learned cwt(a) on the ground that he denied retrospective operation of the amendment made by finance act, 1988, as also on the ground that he sustained the enhancement in the values of certain properties, it gave rise to appeals before us which are numbered as wta ..... the learned cwt(a), after hearing the assessee as well as the ao, held that the amendment brought about by the finance act, 1988 was effective from 1st april, 1989 and hence the assessee could not claim any exemption for the assessment years under ..... but the assessee was also of the opinion that the amendment carried out by finance act, 1988 exempting certain business assets from the levy of wealth-tax, was of a clarificatory nature and hence had retrospective ..... 40(3) of the finance act, 1983 was amended by finance act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business carried on by it, such assets shall not form part of the net wealth of the company for the purpose of levy ..... first issue to be decided, therefore, is whether the assessee company was liable for wealth-tax or not in the light of the amendment carried out by finance act, 1988.10. ..... 7 has been held to be a machinery section and schedule iii referred to therein a procedural ..... sharvan kumar swarup & sons (1994) 210 itr 886 (sc) that procedural law applies to all pending ..... 312 to 316/jp/1994 by the assessee are treated as partly ..... , 1994 which are numbered as wta .....

Jodhan Real Estate Development Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)56ITD90(JP.)

..... however, by the time these assessments were completed, section 4(3) of the finance act, 1983 was amended by finance act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business carried on by it, such assets shall not form part of the net wealth of the company for the purpose of levy of ..... there can be no intendment about the applicability of substantive law when the date of its applicability has been specifically provided for section 87 of the finance act, 1988 specifically provides that the amendment will be with effect from 1-4-1989. ..... pandey contended that since the amendment was to remove the unintended hardship caused by section 40 of the finance act, 1983, it is of a clarificatory nature. ..... as the assessee was aggrieved by the order of the learned cwt(a) on the ground that he denied retrospective operation of the amendment made by finance act, 1988, as also on the ground that he sustained the enhancement in the values of certain properties, it gave rise to appeals before us which are numbered as wta nos. ..... 172 to 176 / jp /1991 by the revenue are treated as allowed for statistical purposes and wta nos.312 to 316/ jp/1994 by the assessee are treated as partly allowed. ..... the assessee, therefore, filed fresh appeals against the combined order of the learned cwt(a) dated 7-10-1994 which are numbered as wta nos. ..... sharvan kumar swamp & sons [ 1994] 210 itr 886 that procedural law applies to all pending proceedings. .....

Commissioner of Income-tax, Madras Vs. Sundaram Industries Private Ltd ...

Court : Chennai

Reported in : [1969]71ITR380(Mad)

..... 'in the instant case, while it is necessary to consider the scope of the retroactive operation of the amendment caused by the finance act of 1955 and 1956, it should also be remembered that section 23a is in the natural of a penal provision and necessarily the onus is on the revenue to prove that the ingredients of the section are satisfied before an order is made thereunder. ..... 'the finance act of 1956, which closely followed the above amendments, further amended section 23a of the main act so as to read in clause (b) of the proviso to sub-clause (1) stated above for the words 'where the reserves' the words 'where the accumulated profits and reserves'. ..... the distribution was so effected in accordance with the letter and procedure as was in force on the date of distribution which but for the supervening amendment of section 23a by the finance acts of 1955 and 1956, appears to be in order. ..... (2) whether the amendment made to section 23a by the finance act, 1956, could not be applied to the assessee company for the assessment year 1955-56 ? ..... 'by section 20(1) of the finance act of 1955, the amendment as above shall have effect on and from 1st april, 1955. ..... it is not seriously disputed by the learned counsel for the assessee that if the text of the amendments in the finance acts is applied to the company in question, then it has failed to satisfy the prescribed indicia therein as regards the percentage of distributable dividends. .....

Commissioner of Income-tax Vs. Calcutta Steel Co. Ltd.

Court : Kolkata

Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)

..... : [1977]107itr168(mad) , the question before the madras high court was whether under the provisions of section 2(5)(a) of the finance act, 1966, the cash subsidy and the income derived from the sale of import entitlements would form part of the profits and gains derived from the export of any goods or merchandise. ..... section 113 of the income-tax act, 1961, corresponded to section 17(1) of the indian income-tax act, 1922, but that section has now been omitted with effect from april 1, 1965, as a result of the finance act, 1965. ..... cit : [1982]137itr616(guj) , construed the provisions of section 2(5)(a) of the finance act, 1964, regarding the profits derived from exports and held that cash subsidy or allowance given on export of goods is directly connected with the export of goods and rebate under section 2(5) can be claimed in respect of it. ..... act, 1961, the tribunal has referred the following question to this court at the instance of the commissioner :'whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that there was no mistake apparent from the record with the meaning of section 154 of the income-tax act, 1961, and in that view cancelling the amendment order made by the income-tax officer under the said section ?'2. ..... it is a matter for consideration whether the definition contained in section 2(31) of the income-tax act, 1961, is an amendment of the law or is merely declaratory of the law that was in force earlier. .....

Futura Fibres and Futura Polymers Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

..... later on, the finance act, 2003, made certain amendments to the service tax provisions of the finance act, 1994, whereby the aforesaid assessees were required to present tax returns to the proper officer within six months from 14.05.2003 (date on which the finance act, 2003 received presidential ..... demands are barred by limitation prescribed under section 73 of the finance act, 1994. ..... in order to get over the supreme court's ruling, parliament amended section 65 ibid in relation to the limited period 16.07.1997 to 16.10.1998 under section 116 of the finance act, 2000, whereby recipients of `goods transport' service and `clearing and forwarding' service were defined ..... such demands are not affected by the amendments made to section 65 by parliament under section 116 of the finance act, 2000 and consequently they are hit by the apex court's ruling in laghu udyog ..... taken or anything done or purported to have been taken or done at any time during the period commencing on and from the 16th day of july 1997 and ending with the day, the finance act, 2000 received the assent of the president shall be deemed to be valid and always to have been valid for all purposes, as validly and effectively taken or done" vide ..... but these rules were held to be ultra vires sections 65 and 66 of the finance act, 1994 by the hon'ble supreme court in the case of laghu udyog ..... demands raised by the department, in these cases, are far beyond the period of limitation prescribed under section 73 of the finance, 1994".4. .....

K. Sunil Kini Vs. Income Tax Officer, Ward 2(2),

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2006)6SOT139(Bang.)

..... if the legislature had intended the relevant amendments effected by the finance act, 1997 to make non-compete fees chargeable to capital gains tax, then, when the finance act, 2002 made such receipts taxable under section 28, it would also have amended section 55(2)(b) to remove the words 'right to manufacture, produce or process any article or thing'.this was not done.in the case of r.k. ..... the return filed by the assessee was accepted under section 143(1) of the income tax act, 1961 (hereinafter referred to as 'the act') and refund claimed as per return was granted.subsequently, by notice dated 4-4-2002 issued under section 148, the assessment was reopened and the amount of rs. ..... since no interest under section 234b had been charged in the case of the assessee under section 143(1), such interest should not have been charged in the reassessment.in the case of kangra bairi co. v. ..... it is an admitted position that the assessee's return was accepted under section 143(1) initially and refund was granted. ..... according to the provisions of section 234b, interest can be charged in reassessment only such interest has been charged in the assessment made initially under section 143(1) or 143(3). ..... section 2(4) defines regular assessment to mean the assessment completed under section 143(3) or 144. ..... the returns received for the subsequent assessment years were also processed under section 143(1)(a). ..... admittedly, the assessments up to the assessment year 1987-88 were completed under section 143(1). .....