Judgment Search Results Home > Cases Phrase: finance act 1995 section 8 amendment of section 33ac Court: uk supreme court Page 1 of about 454 results (0.118 seconds)

Dlf Universal Ltd. Vs. Appropriate Authority and anr. Etc.

Court : Supreme Court of India

Reported in : (2000)160CTR(SC)401

..... the objects and reasons of the bill which was enacted as finance act, 1995, also do not give an indication that by inserting sub-section (4) in section 269uc parliament intended to confer a power on the appropriate authority to go into the legality or validity ..... section (4) of section 269uc was inserted by finance act, 1995 with effect from 1-7-1995 ..... xx-c consisting of sections 269u to 269uo was inserted in the act by the finance act, 1986 with effect ..... of 12 appeals is directed against the judgment dated 1-12-1998 of the division bench of the delhi high court interpreting section 269uc of the income tax act, 1961 (hereinafter referred to as 'the act') and rule 48l and form 37i of the income tax rules, 1962 (hereinafter referred to as 'the 'rules')2 ..... pertains to immovable property and amounts to transfer of immovable property within the meaning of clauses (d) and (f) of section 269ua high court, after examining the terms of the agreement and the provisions of chapter xx-c, reached various findings in paragraph 28 of the judgment, which we reproduce: 'to sum up, our findings are: -(i) agreement for transfer as defined in clause (a) of section 269 ua refers to an agreement which is entered into privately between the parties thereto; such an agreement may be ..... no thought was given to amend clause (c) of sub-rule (2) of rule 48l while inserting sub-section (4) of section 269uc of the act. ..... rule 48l in which clause (c) occurs was substituted by the income tax (seventh amendment) rules, 1987. .....

Dlf Universal Ltd. Vs. Appropriate Authority and Another

Court : Supreme Court of India

Reported in : 2000(3)CTC487; 85(2000)DLT367(SC); [2000]243ITR730(SC); JT2000(5)SC469; 2000(4)SCALE351; (2000)5SCC552

..... the objects and reasons of the bill which was enacted as finance act, 1995, also do not give an indication that by inserting sub-section (4) in section 269uc parliament intended to confer a power on the appropriate authority to go into the legality or validity of the agreement.12. ..... : [1991]191itr307(sc) , which approved the decision of the delhi high court as follows:sub-section (4) was inserted in section 269uc by the finance act, 1995, with effect from july 1, 1995. ..... sub-section (4) of section 269uc was inserted by finance act, 1995 with effect from 1.7.1995. ..... chapter xx-c consisting of sections 269u to 269uo was inserted in the act by the finance act, 1986 w.e.f. ..... after reply was received the appropriate authority by order dated december 11, 1995 held that in view of the provisions of section 6 of the tamil nadu urban land ceiling act the agreement dated september 7, 1995 to transfer entire land including the excess vacant land shall be deemed to be null and void and in that view of the matter appropriate authority could not effectively exercise its powers with regard to pre-emptive ..... section 269uc, as it stood before the said amendment of 1995, came up for consideration before the various high courts. ..... it would appear that no thought was given to amend clause (c) of sub-rule (2) of rule 48l while inserting sub-section (4) of section 269uc of the act. ..... sub-rule (2) of rule 48l in which clause (c) occurs was substituted by the income-tax (seventh amendment) rules, 1987. .....

Jagdish A. Sadarangani Vs. Government of India

Court : Supreme Court of India

Reported in : (1998)146CTR(SC)105; [1998]230ITR442(SC); JT1998(9)SC241; (1998)8SCC409; 1998Supp(8)SCC409

..... the objects and reasons of the bill which was enacted as finance act, 1995 also do not give an indication that by inserting sub-section (4) in section 269-uc parliament intended to confer a power on the appropriate authority to go into the legality or ..... the said reasons given by the learned judges of the high court in the impugned judgment as well as the objects and reasons of the bill which was enacted as the finance act, 1995, namely, sub-section (4) inserted in section 269-uc of the income tax act. ..... section (4) was inserted in section 269-uc by the finance act, 1995, with effect from 1-7-1995 ..... to the objects and reasons appended to the bill which was enacted as the finance act of 1995. ..... points was that the extent of the property under transfer is about 24 grounds which includes 8.01 grounds for which acquisition under the tamil nadu urban land (ceiling and regulation) act (hereinafter referred to as 'the urban ceiling act') is in force and the stay order has been granted by the high court and that the total consideration towards the entire land is inclusive of the portion affected under the ..... section 269-uc, as it stood before the said amendment of 1995, came up for consideration before ..... the aforementioned observations of this court while dismissing the special leave petition against the judgment of the delhi high court but has observed that the position has changed as a result of the amendment which has been introduced in section 269-uc by the insertion of sub-section (4) of 1955. .....

Engineering Analysis Centre Of Excellence Private Limited Vs. The Comm ...

Court : Supreme Court of India

..... royalty under the income tax act67 the insertion of sub-sections (v), (vi) and (vii) in section 9(1) of the income tax act, by way of an amendment through the finance act 1976,37 was to introduce source-based taxation for income in the hands of a non-resident by way of interest, royalty and fees ..... equally ludicrous for the aforesaid amendment which also inserted explanation 6 to section 9(1)(vi) of the income tax act, to apply with effect from 01.06.1976, when technology relating to transmission by a satellite, optic fibre or other similar technology, was only regulated by the parliament for the first time through the cable television networks (regulation) act, 1995, much after 1976. ..... solicitor general also sought to rely on a decision of the audiencia nacional (spanish national court) in case no.207019/1990 dated 28.02.1995 and a decision of the tribunal supremo (spanish supreme court) in case no.8066/1994 dated 02.10.1999. ..... by the fact that the oecd commentary on articles 30 and 31 acknowledges the fact that the entry into force provisions, unlike 35 notification no.gsr331e), dated 5-4-1995, as amended by notification no.s.o. ..... judgment also clarifies, after referring to cbdt circular 89 no.728 dated 30.10.1995, that the tax deductor must take into consideration the effect of the ..... it is for this reason that vide circular no.728 dated 30-10-1995 cbdt has clarified that the tax deductor can take into consideration the effect of dtaa in respect of payment of royalties and technical .....

Gem Granites Vs. Commissioner of Income-tax, Tamil Nadu

Court : Supreme Court of India

Reported in : (2004)192CTR(SC)481; [2004]271ITR322(SC); 2004(9)SCALE647; (2005)1SCC289

..... no support to the appellant's contention can also be drawn from the 1984 circular which reads thus:'export of cut and polished diamonds and gem stones - whether eligible for deduction under section 80 hhc'section 80hhc has been inserted in the income-tax act, 1961, by the finance act, 1983, and the deduction under this provision is admissible in relation to assessment year 1983-84 and subsequent years. ..... it is clear from the language used that the cbdt gave its understanding of sub-section 2(b) of section 80hhc as it stood prior to the 1991 amendment with regard to diamonds and gem stones alone having regard to the peculiar facts and features relating to the export and import of diamonds. ..... if we were to hold that the word 'minerals' in sub-section 2(b) never included processed minerals then the 1991 amendment excepting processed minerals from the exclusionary effect of the sub section would be rendered meaningless and an exercise in futility.14. ..... the answer to this question would lie in the interpretation of sub-section 2(b) of section 80-hhb as it stood prior to its amendment and as it stands after 1991. ..... it is also the contention of the appellant that the amendment was declaratory and therefore would take effect from the date on which the section 80hhc was introduced into the statute. ..... learned counsel appearing on behalf of the department has submitted that the 1994 and 1995 circulars did not apply to the assessment years prior to the 1991 amendment of section 80-hhc. .....

Commissioners for Her Majesty's Revenue and Customs (Appellant) Vs. To ...

Court : UK Supreme Court

..... that section, as further amended by the finance acts 1995, 1996 and fa 2001, (and in contrast to section 9 of tma 1970, which applies to a personal return or a trustee's return) does not actually include the expression "self-assessment", but that is ..... that section (as amended by the finance act 2003) provided as follows: "(1) expenditure is first-year qualifying expenditure if (a) it is incurred on or before 31 march 2004, (b) it is incurred by a small enterprise, (c) it is expenditure on information and communications technology, and (d) it is not excluded by section 46 (general exclusions) or ..... to do, however, is to stand back from the composite transaction; to look at it as a whole; and to decide, first, what is the true nature and effect of the transaction and, second, whether, on a true construction of section 41(1) of the finance act 1971, vp is entitled to an allowance in respect of the whole of the cost of the film, viz $14m. ..... further amendments were made by the finance act 2001 ("fa 2001") intended to simplify and clarify the process ..... hmrc concentrated its enquiries on section 45(4) of caa 2001 (as inserted by the finance act 2003), which withholds fyas for expenditure on software rights "if the person incurring it does so with a view to granting to another person a right to use or otherwise deal with any of the ..... he focused on the text of section 41(1) of the finance act 1971 (in terms not materially different from those of caa 2001), and answered the "ultimate question .....

Commissioner of Income Tax and ors. Vs. Chhabil Dass Agarwal

Court : Supreme Court of India

..... in the meanwhile, section 10 (26aaa) of the act was inserted by section 4 of the finance act, 2008 whereby certain income accruing or arising to a sikkimese individual ..... in entertaining the writ petition since the assessee has invoked its jurisdiction under article 226 of the constitution of india despite the availability of an equally efficacious alternate remedy under the act and therefore, the writ court ought not to have interfered with the notices issued under section 148 of the act, the re-assessment order passed by the assessing authority and the consequential demand notices issued thereon.12. ..... order, the high court has quashed the order of assessment passed by the assistant cit, circle-i, siliguri under section 148 of the income tax act, 1961 (for short 'the act') dated 11.12.2009, whereby the assessing authority has confirmed the notices issued under section 148 of the act for the assessment years 1995-1996 and 1996-1997, respectively.5. ..... the aforesaid backdrop that the assessing authority has passed the assessment order against the assessee confirming the earlier notices issued for assessment years 1995-1996 and 1996-1997 respectively and held that the assessee is liable to pay the income tax as demanded by demand notice dated 11.12. ..... in the light of the aforesaid amendment and instruction, the writ court by order dated 15.07.2009 reiterated the earlier order dated 21.07.2005 and granted liberty to parties to approach the writ court or any other competent authority/forum .....

Koons Buick Pontiac Gmc, Inc. Vs. Nigh

Court : US Supreme Court

..... section 1640(a), as amended in 1995, thus provides for statutory damages equal to (2)(a)(i) in the case of an individual action twice the amount of any finance charge in connection with the transaction, (ii) in the case of an individual action relating to a consumer lease 25 per centum of the total amount of monthly payments under the lease, except that the liability under this subparagraph shall ..... of national banks, truth in lending act amendments of 1995, occ bulletin 96 1, p. ..... truth in lending act amendments of 1995, pub. l ..... as originally enacted in 1968, the act provided for statutory damages of twice the finance charge in connection with the transaction, except that recovery could not be less than $100 or greater than $1, ..... meaning of a subparagraph in a section of the truth in lending act (tila or act), 15 u. s. c. ..... 1640(a)(2)(a) prior to congress s 1995 amendment to it, the consistent interpretation that the courts of appeals had given to the statutory language prior to the amendment, and the text of the amendment itself make clear that congress tacked on a provision addressing a very specific set of transactions otherwise covered by the truth in lending act (tila) but not materially altering the provisions at issue ..... the act requires a creditor to disclose information relating to such things as finance charges, annual percentage rates of interest, and borrowers rights, see 1631 1632, 1635, 1637 1639, and it prescribes civil liability for any creditor who fails to do so, see .....

Commissioner of Income-tax, Kerala Vs. K. Srinivasan

Court : Supreme Court of India

Reported in : AIR1972SC491; [1972]83ITR346(SC); (1972)4SCC526; [1972]2SCR309

..... on a reference being sought the following question of law was referred to the high court :-whether the words 'income tax' in the finance act of 1964 in sub-section (2)(a) and sub-section (2)(b) of section 2 would include surcharge and additional surchargethe high court answered the question in the negative and m favour of the assessee.3. ..... although under the act section 4 is the charging section income tax can be charged only where the central act which, in the present case, will be the finance act enacts that income shall be charged for any assessment year at the rate or rates specified therein. ..... section 2 of the finance act 1971 is to the effect that the provisions of section 2 and of the first schedule to the finance act 1970 shall apply in relation to income tax for the assessment year or as the case may be the financial year commencing on the first day of april 1971 as they apply in relation to income tax for the assessment year commencing on first day of april 1970 with certain modifications set out in the section. ..... section 3(1) of that act read :subject to the provisions of this section the rates of income tax and rates of super tax...imposed by sub-section (1) of section 7 of the indian finance act 1940 shall, in respect of the year beginning on the first day of april 1940 be increased by a surcharge for the purpose of the central government....similar phraseology was employed in respect of surcharge on super tax. .....

State of West Bengal Vs. Calcutta Club Limited

Court : Supreme Court of India

..... in the result, these petitions are allowed and it is hereby declared that section 65(25a), section 65(105) (zzze) and section 66 of the finance (no.2) act, 1994 as incorporated/ amended by the finance 60 act, 2005 to the extent that the said provisions purport to levy service tax in respect of services purportedly provided by the petitioner club to its ..... the impugned judgment dated 15th march, 2012 by the high court of jharkhand set out the relevant provisions of the finance act, 1994 (hereinafter referred to as the finance act ), by which service tax was levied on members clubs, and arrived at the conclusion that such clubs stand on a different footing from proprietary clubs, as has been held in young men ..... . the explanation to section 65, which was inserted by the finance act of 2006, reads as follows: explanation: for the purposes of this section, taxable service includes any taxable service provided or to be provided by any unincorporated association or body of persons to a member thereof, for cash, deferred payment or ..... immediately before the appointed day to pay tax under section 4 or section 8 of the bengal finance (sales tax) act, 1941 (bengal act vi of 1941), and who 17 (ii) would have continued to be so liable on such appointed day under that act had this act not come into force, or whose gross turnover during a year first exceeds the taxable quantum as applicable to him under the bengal finance (sales tax) act, 1941, on the day immediately preceding the appointed ..... (1995) .....