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Prism Cement Limited, (Formerly Known as H and R Johnson (India) Limit ...

Court : Mumbai

..... rate applicable to the sale or purchase of such goods inside the appropriate state under the sales tax law / value added tax, whichever is lower. 13. similarly, section 8(2) of the cst act as amended by finance act 2002 provides that the rate of tax payable by any dealer on sales not covered under section 8(1) of the cst act, shall be (a) in the case of declared goods at twice the rate applicable to the sale or purchase of such goods within the appropriate state, (b) in the case of ..... in other words, according to the commissioner, section 8(5) of the cst act as amended by the finance act 2002 restricts the power of the state government to grant exemption from payment of tax in respect of sales of goods covered under section 8(1) subject to fulfilling the conditions of section 8(4) of the cst act and, therefore, any notifications issued to the contrary under section 8(5) as it stood prior to its amendment by finance act 2002 shall stand modified to that extent so that, on amendment of section 8(5), tax becomes payable in respect of sales which are not covered under section 8(1) of the cst .....

Kiran Corporation Vs. the Asstt. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)102TTJ(Ahd.)375

..... april, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. ..... court after making a reference to the amended provisions of section 143(1a) by the finance act, 1993 w.e.f.1.4.89 held as follows: the substituted sub-section (1a), therefore, made it clear that even where the loss declared by an assessee had been reduced by reason of adjustments made under sub-section (1)(a), the provisions of sub-section (1a) -would apply. ..... section (1a) was amended by the finance act, 1993, with retrospective effect from april 1, 1989, which was the date upon which sub-section (1a) had been introduced into the act. ..... the reasons behind amendment of provisions of section 143(1) w.e.f.1.4.88 by the finance act, 1987 have been explained in circular ..... provisions of section 143(1)(a) as amended by the finance act, 1987 w.e.f ..... of levy of additional tax in the context of the provisions as it existed prior to its retrospective amendment by finance act, 1993 w.e.f 1.4.89, had come for consideration before the hon'ble supreme court. ..... /ahd/1995 relating to upholding of adjustment made by the ao under section 143(1)(a) ..... two appeals have been filed by the assessee against the consolidated order of the cit(a) dated 11-1-1995 for ay 1998-91 whereby part relief has been allowed in the quantum appeal and adjustment made under section 143(1)(a) has been upheld. ..... & 69s/a/1995 for the asstt ..... acit (1995) 52-ttj (and) ..... ahd/1995. .....

Kwality Milk Foods Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2006)100ITD199(Chennai)

..... task assigned to this special bench is to point out whether the amendment in proviso to section 43b by finance act, 2003 could be construed to be curative as such retrospective in nature ..... under section 255(3) of the income-tax act, 1961 (hereinafter called as "the act") the hon'ble president of the income-tax appellate tribunal (hereinafter called "the tribunal") has constituted this special bench to consider the following question: whether amendment in proviso to section 43b by finance act, 2003 could be construed to be curative, as such retrospective in nature? ..... object that was accomplished by the amendment was to give effect to the true intention behind the introduction of the section.that amendment is, therefore, required to be regarded as retrospective qua the amendment incorporated by the finance act, 1987.32. ..... before the tribunal was whether deduction can be allowed in respect of the said payment in view of amendment in proviso to section 43b by the finance act, 2003 by holding the same as retrospective.3. ..... by section 21 of the finance act, 2003 following amendments were incorporated in section 43b of the act: (b) in the first proviso, the words, brackets and letters 'referred to in clause (c) or clause (d) or clause (e) or clause (f)' have been ..... section 43b of the act was further amended by the finance act, 1987.two provisos were ..... on parity of reasoning the proviso which is now amended by the finance act, 2003 can also be treated as retrospective qua the payment of tax .....

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)107ITD343(Chd.)

..... to the curative nature of the amendment made by the finance act, 1987, it has been submitted before us that the proviso which is inserted by the amending finance act of 1987, should be given retrospective effect and be read as forming a part of section 43b from its inception. ..... or any subsequent year on the ground that he has actually made a payment towards such liability in that year.there was an amendment in section 43b by the finance act, 1987 which may not be relevant for the purpose of present controversy. ..... said circular and the amendment is also not relevant for the purpose of the present controversy.finance act, 1989 made yet another amendment in section 43b by virtue of which 2nd proviso to section 43b was substituted w.e.f. ..... the words "any sum payable" shall mean any sum, liability for which has been incurred by the taxpayer during the previous year irrespective of the date by which such sum is statutorily payable.finance act, 1990 made yet another amendment in section 43b by virtue of which clause (d) of section 43b was amended. ..... the amendment which was made by the finance act of 1987 in section 43b by 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 ..... iac (1995) 52 ttj (del) 477 has held that excise duty paid as advance by way of deposit in personal ledger account (pla) cannot be disallowed under section 43b. .....

Commissioner of Income-tax Vs. Hasanali Khanbhai and Sons

Court : Gujarat

Reported in : [1987]165ITR195(Guj)

..... this position prevailed up to march 31, 1956, because of the amendment inserted by the finance act, 1956, with effect from april 1, 1956, a change was effected in section 23(5)(a) with the result that where the assessee was a firm and the total income of the firm has been assessed under sub-section (1), (3) or (4), as the case might be, in the case of a registered firm, the income-tax payable by the firm itself was to be determined first and the total income of each partner ..... the result of the amendment of the indian income-tax act, 1922, by insertion of section 2(6c) in the definition of the word 'income' and section 12b with effect from april 1, 1957, meant that every assessee, including a registered firm, became liable to pay income-tax at the rates prescribed by the relevant finance acts on its total income with capital gains as one of the components of such total income. ..... in the light of the different provisions which we have mentioned above, and particularly in the light of the definition of the word 'person' in section 2(31) of the 1961 act and also the definition of the word 'income' in section 2(24) read with the provisions of section 114 and section 182 of the 1961 act and the relevant sub-section or section of the finance act of each year, it is obvious that when considering the total income for the purpose of arriving at the income-tax payable by a registered firm as such .....

Commissioner of Income-tax (Central) Vs. Oriental Co. Ltd.

Court : Kolkata

Reported in : (1981)25CTR(Cal)75,[1982]137ITR777(Cal)

..... is not chargeable to corporation tax thereon (finance act, 1965, section 50(2)(a)), and so is not exempt from income-tax (finance act, 1965, section 46(2)(b)), unless under a double taxation convention.' ..... urged on behalf of the assessee that on a proper reading of section 47(1) and section 47(2) of the finance act read with the relevant provisions of the english income tax act, specially section 190 of the i.t. ..... was urged on behalf of the assessee that section 47(1) of the finance act of 1965, inter alia, provided that except ..... it appears to us that under sub-section (2) of the finance act, 1965 of england, income-tax under schedule f for any assessment year shall be charged in respect of any distribution made in the year on such sum as after deduction of income-tax actually made, and, ..... exempt from income-tax in respect of his dividend income both before and after the finance act of 1965, by reason of section 190 of the english income tax act, 1952. ..... our attention to section 46 of the finance act of 1965, of england and referred to the other relevant sections. ..... there was a good deal of argument before us whether a non-resident indian company was taxable in england after the finance act of 1965, or whether a non-resident indian company, the assessee, whose tax has been deducted, is entitled to get refund from england as a result of the changes made ..... therefore, the effect of the said amendment was that the deducted amount became the deemed income for the ..... after its amendment by the .....

The Khardah Company Ltd. Vs. Commercial Tax Officer, Esplanade Charge ...

Court : Kolkata

Reported in : [1976]37STC382(Cal)

..... the finance act, 1966, was an annual act, and, after the expiry of the financial year 1966, the said act expired and the amendment made by section 51 of the finance act, 1966, became ineffectual. ..... it is not correct to contend that the amendments made in the central sales tax act, 1956, under section 51 of the finance act, 1966, was effectual and valid only for the year 1966-67.14. ..... i am unable to accept the submission of the learned advocate for the petitioner that the substitution of the words 'three per cent' in place of 'two per cent' in section 15 made by section 51 of the finance act (act 13 of 1966) was valid only for the financial year 1966-67, and that the said amendment has expired. ..... the said act also provided for amendment of a number of statutes relating to various direct and indirect taxes including the central sales tax act, 1956 (vide section 51 of the finance act). ..... it is not unoften that the income-tax act or some other act is amended by a finance act or that some principle of taxation or computations of income is laid down in a finance act, which is intended to form part of the general law of the country. ..... in the result, i hold that after the above amendment by the finance act, 1966 (act 13 of 1966), the power of the west bengal state legislature to impose sales tax on sale of declared goods inside the state was subject to the limitation that such tax shall not exceed three per cent. .....

Vodafone International Holdings B.V. Vs. Union of India (Uoi) and anr.

Court : Mumbai

..... tax authority has not invoked jurisdiction on the basis of section 201 as amended by the finance act, 2008; and(b) in fact, in paragraph 970 of the impugned order, it has been held that the amendment to section 201 by the finance act, 2008 is clarificatory, meaning thereby that the liability sought to be fastened upon the petitioner is based on the provisions as they stood prior to the amendment.however, we clarify that it is open to the ..... not competent to treat the petitioner as an assessee in default under section 201, as amended by the finance act, 2008 and the amendment to section 201 by the finance act, 2008 is unconstitutional. ..... court held that it was not required to examine this question in the light of the judgment of the gujarat high court since after the judgment in the appeal was delivered, explanation 2 was added by an amendment to section 10(15)(iv)(c) to declare that usance interest payable outside india by an undertaking engaged in the business of ship breaking in respect of the purchase of a ship from outside india would be deemed to be interest payable ..... form of right to appoint two directors with veto power to promote its interests in hel and thereby hold beneficial interest in 12.30% of the share capital of the indian company hel;(vii) finance to smms to acquire shares in itnl (formerly omega) with right to acquire the share capital of omega in future;(viii) controlling rights over itnl through the itnl shareholders agreement, in the ..... and 1995 respectively.7 .....

Pr. Commissioner of Income Tax-2 vs.british Motor Car Co.(1934) Ltd

Court : Delhi

..... with, the unabsorbed depreciation from the assessment year 1997 98 up to the assessment year 2001 02 got carried forward to the assessment year 2002 03 and became part thereof, it came to be governed by the provisions of section 32(2) as amended by the finance act, 2001, and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. 9. ..... the question of law urged by the revenue in the appeal is whether the interpretation of section 32(2) of the income tax act, ita10312017 page 1 of 10 1961 ( the act ) as amended by finance act, 2001, could be given effect to beyond the period of eight years, prior to ..... section 32(2) of the act was amended by the finance act, 2001, and the provision so amended reads as under: where, in the assessment of the assessee, full effect cannot be given to any allowance under sub-section (1) ita10312017 page 5 of 10 less than in any previous year, owing to there being no profits or gains chargeable for that previous year, or owing to the profits or gains chargeable being the allowance, then, subject to the provisions of sub-section (2) of section 72 and sub-section (3) of section 73, the allowance or the part of the ..... of the legislature been to allow the unabsorbed depreciation allowance worked out in the assessment year 1997 98 only for eight subsequent assessment years even after the amendment of section 32(2) by the finance act, 2001, it would have incorporated a provision to that effect. .....

The International Association For Protection Of Intellectual Property ...

Court : Supreme Court of India

..... members of the appellate board appointed after the commencement of part xiv of chapter vi of the finance act, 2017 (7 of 2017), shall be governed by the provisions of section 184 of that act: provided that the chairperson, vice-chairperson and other members appointed before the commencement of part xiv of chapter vi of the finance act, 2017 (7 of 2017), shall continue to be governed by the provisions of this act, and the rules made thereunder as if the provisions of section 184 of the finance act, 2017, had not come into force17. ..... by virtue of the provisions of part xiv of the finance act 2017, 25 (twenty- five) central enactments were amended so that, from the appointed date, firstly, 5 provisions relating to terms and conditions of service of the members of those tribunals were substituted with provisions allowing the central government to specify the same with rules under the finance act. ..... 6in a part entitled part xiv amendments to certain acts to provide for merger of tribunals and other authorities and conditions of service of chairpersons, members, ..... , the amendments brought about through sections 184, in terms of the maximum age up to which any member or chairperson can hold office in a tribunal could not apply in the case of the board ..... order of appointment as chairperson of the board was amended on 29.12.2017 by the central government. ..... however, that order was amended to specifically read that the order that the appointment would cease upon completion of a specific date, .....