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Union Of India Vs. M/s Mohit Minerals Pvt. Ltd.

Court : Supreme Court of India

..... the notices and orders were challenged on the ground that the authorities did not have the jurisdiction to issue them since the amendments introduced to section 25(1) of the kvat act through the kerala finance acts 2017 and 2018 did not operate retrospectively. ..... prima facie, it appears that while issuing the impugned notification, the delegated legislature had in mind the provision of the finance act, 1994, rather than keeping in mind the object of bringing the gst by making the constitutional (101st) amendment act, 2016 to merge all taxes levied on the goods and services to one tax known as the gst.133. ..... since the power flows from section 5(3), the government can by a notification only specify the categories of supply , as the liability for tax has been determined by parliament; (c) in contrast with section 5(3), prior to the introduction of gst, section 68(2) of the finance act 1994 provided that the service tax shall be paid by such person as may be prescribed . ..... a class of registered persons who shall, in respect of supply of specified categories of goods or services or both received from an unregistered supplier, pay the tax on reverse charge basis as the recipient; (d) the reliance placed by the government on the amended section 5(4) of the igst act to justify notification 10/2017 is erroneous as: there was no power to issue a notification specifying the class of registered person liable to pay tax under reverse charge basis under .....

Vivek Narayan Sharma Vs. Union Of India

Court : Supreme Court of India

..... bench of this court in the case of rojer mathew (supra) considered the question, as to whether section 184 of the finance act, 2017, which does not prescribe qualifications, appointment, term and conditions of service, salary and allowances, ..... is to be noted that after the ordinance of 1946 was promulgated, the rbi act was amended vide act no.62 of 1956 and section 26a was added, thereby specifically providing that no bank note of the denominational value ..... palpably arbitrary exercises which can be declared void under the 14 amendment; and such judgment cannot be pronounced of the ordinance in ..... it is enough to say that we have tried, so far as that amendment is concerned, to declare in words, and the cases illustrate by examples, the wide range which legislation ..... rbi act would also show that it was amended in the year 2016 with effect from 27th june 2016 by act no.28 ..... of the ordinance is to raise revenue, and that its classification has no relation to such purpose, and therefore is arbitrarily discriminatory, and thereby offends the 14th amendment of the constitution of the united states. ..... amendment, it was stated in the preamble that, whereas it was essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, and whereas the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth and whereas the monetary policy framework in india shall be operated by the rbi, the rbi act .....

Gvk Inds. Ltd and Anr Vs. The Income Tax officer and Anr

Court : Supreme Court of India

..... the said explanations read as under: "as amended by finance act, 2010 explanation. ..... as amended by finance act, 2007 ..... the high court referred to clause (b) of sub-section 2 of section 5 and section 9 of the act and adverted to the expression all income accruing or arising, whether directly or indirectly, through or from any business connection in india, or through or from any property in india, or through from any asset or source of income in india or through the transfer of a capital asset situate in india and thereafter referred to section 163(1)(b) which uses the expression "business connection" and thereafter referring to various authorities, culled ..... the company took steps to comply with the said order but afterwards on october 25,1995 the revisional authority revoked the earlier order and directed the company to deduct tax and pay the same to the credit of the central government as a condition precedent for issuance of the 'no objection certificate' ..... justifying the order of revocation by the commissioner of income-tax, it was set forth that order dated 21.03.1995 was only an interim order and the final order came to be passed on 25.10.1995 by which the revision was dismissed. ..... no.6866 of 1995 for issue of writ of certiorari for quashing of the orders passed by the income-tax officer and that of by the revisional ..... on march 21, 1995 the second respondent permitted the appellant-company to remit the said sum to the nrc by furnishing a bank guarantee for the amount of tax .....

In Re: Advance Ruling P. No. 10 of

Court : Authority for Advance Rulings

Reported in : (1997)224ITR473AAR

..... --under the provisions of section 164 of the income-tax act before the amendment made by the finance act, 1970, income of a trust in which the shares of the beneficiaries are indeterminate or unknown, is chargeable to tax as a single unit treating it as the total income of an association ..... made clear by section 2(3) of the relevant finance act (the act of 1995 is considered here but there is a similar provision in other finance acts as well) : " section 2(3). ..... incorporated there--the certificates of incorporation as well as tax residency certificates to the effect that the companies are resident in mauritius under the income-tax act, 1995, of that country have been filed and they are, therefore, resident in mauritius. ..... this authority has pointed out in mohsinally alimohammed rafik's case [1995] 213 itr 317 (aar), that there is no substance in this objection because : (i) a person seeks relief under the dtaa in india only when he is subjected to tax here and so there would be no error in saying that he is liable ..... shall be managed by the investment manager in accordance with the investment objectives, policies and restrictions set forth in the private placement memorandum dated november, 1995, which is hereby incorporated by reference herein. ..... in mohsinally alimohammed rafik's case [1995] 213 itr 317 (aar) this authority has held that an individual living in dubai would be a 'resident' of dubai within the meaning of article 4(1) of the dtaa between india and the united arab emirates .....

infotech Enterprises Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2003)85ITD325(Hyd.)

..... the learned counsel for the assessee that an stp unit being 100 per cent eou is eligible for exemption under section 10b of the act is accepted, the amendment brought about by the finance act, 1993 extending the benefit under section 10a of the act to the stps from 1st april, 1994, becomes redundant or superfluous. ..... for the deduction in respect of this income from domestic sales in terms of section 80-ia(2)(iv)(a) which reads as under: "(iv)(a) in the case of an industrial undertaking not specified in sub-clause (b) or sub-clause (c), it begins to manufacture or produce articles or things or to operate such plant or plants, at any time during the period beginning on the 1st day of april, 1991 and ending on the 21st day of march, 1995, or such further period as the central government may, by notification in ..... 26th june, 1995 of software technology parks of india that the assessee's claim for exemption under sections 10a and 10b, ..... , 1991.it may be observed that it was only in the year 1995, the assessee expanded its operations to a separate complex situated at nagarjuna hills, hyderabad and this expansion was not in the nature of setting up ..... 26th june, 1995 of the department of electronics, the said unit was approved as its initial plant at maithrivanam complex which was approved as 100 per cent export oriented ..... 26th june, 1995, of the department of electronics, the said unit was approved as its initial plant at maithrivanam complex which was approved as 100 per cent export oriented .....

Kiran Corpn. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2006)98ITD119(Ahd.)

..... 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 ..... amendment of provisions of section 143(1) w.e.f.1-4-1988 by the finance act, 1987 have been explained in circular no.549, dated 31-10-1989 of the cbdt as follows : 5.2 requirement of passing an assessment order in all cases dispensed with [sub-section (1) of section ..... that if the assessee posts debit entries in p&l account and credit entries in bad debt reserve account, the necessary conditions for write off as contained under section 36(1)(vii) would be treated as complied with.however, explanation has been inserted below section 36(1)(vii) by the finance act, 2001 with effect from 1-4-1989 which provides that any provision for bad and doubtful debt would not qualify as permissible deduction under ..... 1995 in appeal pertaining to the assessment year 1991-92, on identical facts, upheld the action of both the departmental authorities below regarding prima facie adjustment made in intimation under section 143(1)(a) as well as levy of additional tax under section ..... 1995 relating to upholding of adjustment made by the assessing officer under section ..... been filed by the assessee against the consolidated order of the cit(a) dated 11-1-1995 for assessment year 1990-91 whereby part relief has been allowed in the quantum appeal and adjustment made under section 143(1)(a) has been upheld. ..... & 698/a/1995 for the ..... cit[1995] ..... ) of 1995 in appeal pertaining to ..... 1995]; ..... 1995 .....

Eureka Forbes Ltd. Vs. State of Bihar and ors.

Court : Patna

..... into note the old provisions of section 18(1) of the bihar sales tax act, 1959, which is same and similar to new section 19(1) of the bihar finance act, 1981, having compared with section 18(1) of the bihar sales tax act, 1959 with that of section 147 of the income-tax act, 1961, the full bench held that the word 'information' in both the provisions of section 18(1) of the bihar sales tax act, 1959 and section 147 of the income-tax act, 1961 have same and similar meaning ..... of the honourable supreme court i can come to a definite conclusion and hold : (i) a mere change of opinion and/or second thought by any authority on the same set of facts and materials on record would not constitute 'information' under section 19(1) of the bihar finance act, 1981 ;(ii) there must be some material and/or facts on the record which had not been taken into account at the time of original assessment, to make reassessment in terms with ..... , has challenged the reassessment and thereby the impugned orders on different grounds, as enumerated below : (i) audit report cannot constitute an information, as enumerated under section 19(1) of the bihar finance act, 1981 and on that basis, no proceeding for reassessment can be initiated ;(ii) there is no new material on the record to make reassessment in terms with section 19(1) of the act aforesaid ;(iii) mere change of opinion, as has been made by the audit party and/or by the deputy commissioner, commercial taxes, jamshedpur, cannot .....

Commissioner of Income-tax Vs. Harlal Mannulal

Court : Madhya Pradesh

Reported in : [1989]178ITR284(MP)

..... may be pointed out that all the decisions which have been relied upon by the tribunal in its appellate order and which have been referred to above were in regard to the assessment years prior to section 271 being amended by the finance act 1964, except the division bench decision of the punjab and haryana high court in the case of addl. ..... by learned counsel for the department that the tribunal, in allowing the appeal and reversing the finding of the inspecting assistant commissioner, has failed to consider the import of the amendment made in section 271 with effect from april 1, 1964, by the finance act, 1964, and, consequently, the conclusion reached by the tribunal was not correct. ..... in the instant case was 1973-74, section 271 as it stood after its amendment by the finance act, 1964, and before its amendment by the taxation laws (amendment) act, 1975, would be applicable.7. ..... it 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 law ..... the amendment which was made in section 271 by the finance act, 1964 ..... the supreme court has pointed out that the explanation added to section 271(1) by the finance act, 1964, permits a presumption to be raised, but the said ..... a similar view in regard to the effect and import of the explanation added in section 271(1) by the finance act, 1964, has been taken: by a division bench of the allahabad high court in .....

C. K. Babu Naidu Vs. Wealth-tax Officer, a Ward, Calicut, and Another ...

Court : Kerala

Reported in : [1978]112ITR341(Ker)

..... judge has taken the view that the principle of the decision will be applicable only to income-tax assessed under the income-tax act, 1961, that what has been decided on in the cases is to assess tax on the declarations made by the assessees under section 68 of the finance act, 1965, that the liabilities arising from such declarations under section 68 of the finance act, 1965, can only arise at the time of the declaration and not on the valuation dates. ..... this is so, notwithstanding the fact that enabling provisions have been made in the finance act, 1965, by permitting the assessees, if so minded, to make a declaration under section 68(2) of the finance act, 1965, and providing that the amount so declared will be taken as the income of the assessee. ..... it is unnecessary to refer to the figures as it is sufficient to state, as we have already stated, that the contention was that out of the income attributable to each of the assessment years, the tax leviable under section 68 of the finance act, 1965, must be deducted for the purpose of arriving at the net wealth assessable to wealth-tax. ..... according to them, the income-tax due on the income declared according to the provisions in section 68 of the finance act, 1965, must be deducted from the income declared and the net wealth arrived at. .....

Mahendra Rambhai Patel Vs. Controller of Estate Duty, Gujarat State

Court : Gujarat

Reported in : AIR1965Guj9; [1965]55ITR1(Guj)

..... 1898, and to dedicate them to the trusts thereby declared; and we have to determine whether the existence of these trusts is sufficient to prevent hubert's estate being one in possession; and as the only interest taxable under the finance act is a beneficial one, it immaterial, that the legal estate in hubert's third remained in him till his death; the liability to duty is the same as if the legal estate had been in the trustees for such a ..... sub-section (1), therefore selects certain categories of property and, aided by the interpretation section,s.22,brings them expressly under the description of property passing on death, indifferent to the whether if it itself had not been part of the original scheme of the finance act, 1894, any one of those categories or any particular form of property falling within one of the categories would, or would not, have been treated by the courts as covered by the ..... finance act, 1894, corresponding to section 23 of our act, means beneficial interest in possession of the property, that is beneficial possession or enjoyment of the property either to the extent of the whole income of the property or to the extent of a definite ..... finance act, 1894, which corresponds with section 23 of our act, the property could not be deemed to have ..... finance act 1894, which corresponds to section 38 of our act ..... finance act, 1894, and section 5 of our act ..... finance act, 1894, in order to comprehend the true import of passing of property referred to in section 5 of our act .....