Court : Supreme Court of India
Reported in : 2009BusLR418(SC); (2009)223CTR(SC)20; [2009]312ITR225(SC); JT2009(5)SC78; 2009(4)SCALE384; [2009]178TAXMAN505(SC); 2009(4)LC1742(SC); 2009AIRSCW3104
..... not falling under section 115a or section 115b or section 115bb or section 115bbb or section 115e or section 164 or section 164a or section 167b, the rate or rates of income-tax specified in this behalf in the finance act of the relevant year and for the purposes of computation or of the 'advance tax' payable under chapter xvii-c, in a case falling under section 115a or section 115b or section 115bb or section 115bbb or section 115e or section 164 or section 164a or section 167b, the rate or rates specified in section 115a or section 115b or section 115bb or section 115bbb or section 115e or section 164 or section 164a or section 167b, as the case ..... to be held that it is only the indian employer who is obliged to deduct tax at source and not the foreign employer (who is directly paying to the foreign account of the expatriate employee outside india), particularly in view of the amendment to section 9(1)(ii), the obligation of the indian employer has to be interpreted coextensively and in respect to the entire salary income of the expatriate employee so long as the salary income of such an employee arises or accrues in india or is in respect of 'services rendered in india ..... 719 dated 22.8.1995. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2008AIRSCW6803; (2008)218CTR(SC)537; 2008(11)SCALE537; (2008)9SCC518; 2008[3]STR12; [2008]16STT108; (2008)17VST55(SC);
..... the factual scenario is that commissioner was of the view that according to section 117 of the finance act, 2000 notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority , sub-clause (xii) and sub-clause (xvii) of clause (d) of sub-rule (1) of rule 2 of the service tax rules, 1994 as they stood immediately before the commencement of the service tax (amendment) rules, 1998 shall be deemed to be valid as if the said clause had been in force ..... in some cases the orders were reviewed under section 84 of the said act on the ground that section 117 of the finance act, 2000 validates retrospectively the provisions of sub-clause (xii) of clause (d) of sub-rule (1) of rule 1 of service tax rules, 1994. ..... the tribunal referred to section 73 of the finance act which reads as follows:section 73(a)- the assistant commissioner of central excise or, as the case may be, the deputy commissioner of central excise has reason to believe that by reason of omission or failure on the part of the assessee to make a return under section 70 for any prescribed period or to disclose wholly or truly all material facts required for verification of the assessment under section 71, the value of taxable service for that quarter has escaped assessment or has .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1960SC1182; (1961)63BOMLR549; [1960]40ITR184(SC); [1960]3SCR880
..... dividend of a preceding year; (ii) such portion of the excess dividend as is deemed to be out of the undistributed profits of each of the said years shall be deemed to have borne tax, - (a) if an order has been made under sub-section (1) of section 23a of the income-tax act, in respect of the undistributed profits of that year, at the rate of five annas in the rupee, and (b) in respect of any other year, at the rate applicable to the total income of the company for that year ..... the view of the minority was that even if there were no profits the intention of the finance act to levy the additional income-tax on the excess dividends was perfectly plain, and that the assessee company was liable. ..... b of part i of the third and first schedules of the finance acts, 1949 and 1950 respectively, assessed the difference in each year to additional income-tax, and charged income-tax at the rate of 5 annas in the rupee on the amounts for the two assessment years. ..... paragraph b of part i of the first schedule of the finance act, 1950 corresponds to the corresponding paragraph of the finance act, 1949. ..... the scheme of the finance act in relation to excess dividends and their chargeability to additional income-tax has been examined by us in civil appeal no. ..... the high court held that though excess dividends were, in fact, paid, the absence of profits from previous years rendered the finance act unworkable in this case. ..... we shall confine ourselves to the finance act, 1949. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2005SC4333; (2005)198CTR(SC)313; [2005]278ITR546(SC); JT2005(12)SC98; 2005(8)SCALE148; (2006)1SCC646
..... section (3) of section 37 was inserted by the finance act 1964 with effect from 1st april, 1964 and was, thereafter, omitted by the finance act 1997 with effect from 1st april, 1998.similarly sub-section (4) was inserted by the finance act 1970 with effect from 1st april, 1970 and was, thereafter, omitted by the finance act ..... section (5) was included in section 37 by the finance act in 1983 with effect from 1st april 1979 and was subsequently omitted by the finance act ..... purposes of the business or profession of the assessee by any employee or other person).explanation 2 : for the removal of doubts, it is hereby declared that for the purposes of this sub-section and sub-section (2b), as it stood before the 1st april 1977, 'entertainment expenditure' includes expenditure on provision of hospitality of every kind by the assessee to any person, whether by way of provision of food ..... buildings/accommodations used for the purposes of business or profession, then it would not have felt the need to amend the provisions of section 37 so as to make a definite distinction with regard to buildings used as guest houses as defined in sub-section (5) of section 37 and the provisions of sections 31 and 32 would have been sufficient for the said purpose ..... namely, the assessment year 1994-1995, all the aforesaid provisions of section 37 were available and, therefore ..... 31,38,017/- for the assessment year 1994-1995, which sum was claimed by the assessee as expenses towards rent, repairs, depreciation and maintenance .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996IIAD(SC)341; AIR1996SC3387; [1996]220ITR1(SC); JT1996(2)SC465; 1996(2)SCALE337; (1996)7SCC685; [1996]2SCR849
..... act) mentions several articles under various heads, so does clause (c) of section 2(5) of the finance act, 1966 and section 2(4) of the finance act ..... act) and who has exported such articles out of india or has sold the said articles to an exporter was entitled, to an additional deduction specified in sub-clauses (ii) and (iii) of clause (a) of section 2(5) of the finance act, 1966 and section 2(4) of the finance act ..... stated for the opinion of the high court under section 256(1) are :(1) whether on the facts and in the circumstances of the case, the assessee was entitled to claim deduction from tax in respect of deoiled cakes exported or sold to exporters by it under section 2(5)(a)(ii) and (iii) and section 2(5)(c) of the finance act, 1966 read with item no. ..... rejected the claim with reference to and relying upon clause (c) of section 2(5) of the finance act, 1966 and clause (c) of section 2(4) of the finance act, 1967. ..... respectively during the accounting years relevant to the assessment years 1.966-67 and 1967-68 and claimed the additional deduction in respect of the said amounts under the provisions of section 2(5)(a)(ii) and (iii) of the finance act, 1966 and under section 2(4)(a)(ii) and (iii) of the finance act, 1967. ..... facts and in the circumstances of the case the assessee was entitled to claim deduction from income-tax in respect of deoiled cakes exported or sold to exporters by it under section 2(4)(ii) and (iii) and section 2(4)(c) of the finance act, 1967 read with item no. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1975]101ITR457(SC)
..... the high court found that in view of the notice of demand the liability of the assessee to pay the arrears arose only after the expiry of 35 days and this period had expired before the finance act, 1965, amending section 220(2) of the act and, therefore, the revenue had no jurisdiction to demand payment of the arrears at the rate of 6% interest. ..... soon after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965, by which the rate of interest was increased from 4% to 6% per annum. ..... furthermore, it is the finance act which fixes the rate of interest payable under sub-section (2) of section 220 and it is common knowledge that every year the finance act makes important amendments in the rates ' payable under the various provisions of the income-tax act. ..... there was absolutely no question of the finance act operating retrospectively, nor was there any question of the finance act taking away a vested right which had accrued to the assessee because we have already held that the order of the income-tax officer under sub-section (3) of section 220 does not amount to any final settlement or agreement. 12. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1976SC43; (1975)2SCC721
..... the high court found that in view of the notice of demand the liability of the assessee to pay the arrears arose only after the expiry of 35 days and this period had expired before the finance act, 1965 amending section 220(2) of the act and therefore the revenue had no jurisdiction to demand payment of the arrears at the rate of 6 per cent interest. ..... 1,34,76,000 by march 15, 1968,soon after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965 by which the rate of interest was increased from 4 % to 6 % per annum. ..... furthermore, it is the finance act which fixes the rate of interest payable under sub-section (2) of section 220 and it is common knowledge that every year the finance act makes important amendments in the rates payable under the various provisions of the income-tax act. ..... there was absolutely no question of the finance act operating retrospectively, nor there was any question of the finance act taking away a vested right which had accrued to the assessee because we have already held that the order of the income-tax officer under sub-section (3) of section 220 does not amount to any final settlement or agreement.9. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1959SC265; [1959]35ITR168(SC); [1959]Supp1SCR142
..... appearing in sub-clause (b) of clause (ii) to the second explanation to proviso to paragraph b of part i of the first schedule to the indian finance act, 1952, means the rate at which a company's total income is actually assessed or the rate prescribed by the respective finance act without taking into consideration the rebate allowed in the respective years in accordance with the provisions of the part 'b' states (taxation concessions) order, 1950 ( ..... section 2 of the finance act, 1952, provides that the provisions of section 2 of, and the first schedule to, the finance act, 1951, shall apply in relation to income-tax and super-tax for the financial year 1952-53 as they apply in relation to the ..... of india excluding the state of jammu and kashmir of the dividends payable out of such profits and has deducted the super-tax from the dividends in accordance with the provisions of sub-section (3d) or (3e) of section 18 of that act; and in that connection, it provides : (i) where the total income, as reduced by seven annas in the rupee and by the amount, if any, exempt from income-tax ..... of the excess dividend as is deemed to be out of the undistributed profits of each of the said years shall be deemed to have borne tax - (a) if an order has been made under sub-section (1) of section 23a of the income-tax act, in respect of the undistributed profits of that year, at the rate of five annas in the rupee, and (b) in respect of any other year, at the rate applicable to the total income of the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1975]101ITR24(SC); (1975)2SCC454
..... according to the appellant, these provisions of the finance act do not, directly or indirectly, bring about any amendment to section 81(i)(a) of the income-tax act but merely prescribe that in cases where the income-tax is payable, ' the amount of income-tax ... ..... having seen the nature and scope of finance acts, the specific question which we have to consider is whether, as contended by the appellant, section 2 read with paragraph a, part i of the first schedule of the finance act, 1963, merely lays down a method of computation in cases where income-tax is in fact payable or whether, as contended by the revenue, the finance act provides for the levy of a new and independent charge. ..... since a co-operative society is an association of persons, paragraph a of part i would apply to the case of the appellant for the purposes of section 2(1)(a)(ii) of the finance act of 1963, though not for the purpose of bringing its exempted business income to income-tax.11. ..... in order that the exemption granted to co-operative banks by section 81(i)(a) may not lose its meaning and content, section 2(8) of the finance act introduces the concept of residual income on which alone the additional surcharge is payable. ..... the interpretation put by us on the finance act, 1963, does no violence to section 4 of the income-tax act, 1961, under which income-tax at the rates prescribed by the finance act is to be charged ' in accordance with, and subject to the provisions of,' the income-tax act. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2008)216CTR(SC)377; [2008]301ITR86(SC); JT2008(6)SC379; 2008(7)SCALE588; (2008)10SCC509; 2008AIRSCW4996
..... that, the applicant which seeks exemption under the above section needs to know, that education is the duty of the state; that every institution which seeks exemption under section 10(23c)(vi) should know that it is supposed to carry out the functions of the state in the field of education and since it is a socio-welfare function, the legislature had stepped in by the finance act, 1998 so as to bring in cbdt which is the highest body of experts in the matter of ..... learned counsel submits that, in view of the finance act, 1998, the provisions of section 11(1)(a) have got to be read into the provisions of section 10(23c)(vi) and if so read the applicant-institute is required to state in its application as to how it has utilized its income in india in the year ..... such voluntary contribution is not held by the trust or institution or any university or other educational institution or any hospital or other medical institution, otherwise than in any one or more of the forms or modes specified in sub-section (5) of section 11, after the expiry of one year from the end of the previous year in which such asset is acquired or the 31st day of march, 1992, whichever is later:3[provided also that where the fund or trust or institution ..... sake of convenience, we quote hereinbelow the following provisions of section 10(23c) of the 1961 act, as amended w.e.f. ..... subsequently, in february 1995 the liaison office was upgraded to a branch office with the approval of the ministry of finance, goi, and the .....
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