Judgment Search Results Home > Cases Phrase: finance act 2001 chapter iv indirect taxes Court: punjab and haryana Page 1 of about 48 results (0.153 seconds)

Parkash Agro Industries Vs. Dy. Cit

Court : Punjab and Haryana

Reported in : [2009]316ITR149(P& H)

..... according to the learned counsel, the aforesaid explanation 1 to section 234b of the act has been amended by the finance act, 2001 with retrospective effect from 1-4-1989 and the vires of the same stands upheld by this court in raj ..... in this appeal by the assessee under section 260a of the income tax act, 1961 (hereinafter referred to as 'the act') against the order of the income tax appellate tribunal, delhi bench 'g', delhi (hereinafter referred to as 'the tribunal') passed ..... -in this section, 'assessed tax' means the tax on the total income determined under sub-section (1) of section 143 or on regular assessment as reduced by the amount of tax deducted or collected at source in accordance with the provisions of chapter xvii on any income which is subject to such deduction or collection and which is taken into account in computing ..... synthetics ltd's case (supra) was interpreting the provisions of sales-tax law and, therefore, the same does not advance the case ..... an application under section 154 of the act on 9-2-1994 and the same was dismissed by the assessing officer observing that where the advance tax paid is less than 90 per cent of the assessed tax, the interest under section 234b of the act is chargeable. ..... the past and it could not foresee that the positive income would accrue during the previous year relevant to the assessment year 1991-92 and, therefore, there was no liability to pay advance tax and consequently no interest under section 234b of the act could be levied. .....

Kiran House and ors. Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Reported in : (1999)122PLR695

..... the provisions as enacted after the finance act of 1998 are contained in chapter v of 'nabhi's service tax guidelines. ..... caterer; and(c) to a client, by a pandal or shamiana contractor in relation to a pandal or shamiana in any manner and also includes the services, if any, rendered as a caterer.from the whole of service tax leviable thereon under v section ..... 49/98-service tax new delhi, dated the 2nd june, 1998, 12 jayishtha, 1920 (saka).gsr(e)-in exercise of the powers conferred by section 93 of the finance act, 1994 (32 of 1994) the central government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services provided:-(a) to a customer, by a goods transport operator in relation to carriage of goods by road in a good carriage;(b) to a client, by an outdoor ..... the concept of 'service tax' was introduced by the finance act of 1994. ..... 'caterer' means any person who supplies, either directly or indirectly, any food, edible preparations, alcoholic or non-alcoholic beverages or crockery and similar articles or account rements for any purpose or occasions;'22. .....

Raj Kumar Singal Vs. Union of India (Uoi) and ors.

Court : Punjab and Haryana

Reported in : (2002)176CTR(P& H)628; [2002]255ITR561(P& H)

..... is the provision of section 2mb, explanation 1, as amended by the finance act, 2001, ultra vires this is the short question that arises for consideration in this case. ..... by the finance act, 2001, the above provision stands substituted by the following provision with effect from april 1, 1989 : ' ..... ,-- (a) for the purposes of computing the interest payable under section 140a, the tax on the total income as declared in the return referred to in that section; (b) in any other case, the tax on the total income determined under sub-section (1) of section 143 or on regular assessment, as reduced by the amount of tax deducted or collected at source in accordance with the provisions of chapter xvii on any income which is subject to such deduction or collection and which is taken into account in ..... --in this section, 'assessed tax' means the tax on the total income determined under sub-section (1) of section 143 or on regular assessment as reduced by the amount of tax deducted or collected at source in accordance with the provisions of chapter xvii on any income which is subject to such deduction or collection and which is taken into account in computing such total ..... amended provision, the interest is leviable on the income as determined by the assessing authority minus the income on which the tax has been paid or deducted. ..... sub-section (3), for the words 'one and one-half per cent,', the words 'one and one-fourth per cent,' shall be substituted with effect from the 1st day of june, 2001.' 4. .....

M/S Pml Industries Limited Vs. Commissioner of Central Excise and Anot ...

Court : Punjab and Haryana

..... (sub-section (4a) inserted by section 129 of the finance act, 2001 w.e.f. ..... an order of waiver of pre-deposit of duty passed by the tribunal stands vacated after expiry of 180 days, if the appeal is not decided in terms of the provisions inserted by section 140 of the finance act, 2002 with effect from 11.05.2002 (hereinafter referred as first set of cases ) and writ petitions such as cwp no.1606 of 2012, wherein the challenge is to the circular issued by the central board of customs & excise (for short ..... sahir and others (2003) 8 scc 498.the language of sub-section (2a), which has been inserted by finance act, 1999, makes it clear that the legislature did not intend to make the time period of 4 years for disposal of the application as mandatory. ..... deposit, pending appeal, of duty demanded or penalty levied where in any appeal under this chapter, the decision or order appealed against relates to any duty demanded in respect of goods which are not under the control of central excise authorities or any penalty levied under this act, the person desirous of appealing against such decision or order shall, pending the appeal, deposit with the adjudicating authority the duty demanded or the penalty levied; provided ..... deputy director of income tax 2002 (257) itr 60.the inherent jurisdiction of the tribunal to grant interim relief so as to make the ultimate relief effective cannot be curtailed indirectly by sub- section (2a). ..... maxwell, in chapter 13 of his 12th edn. .....

Date of Decision : 5.8.2013 Vs. Union of India and Others

Court : Punjab and Haryana

..... (supra) case would show that the apex court while deciding the issue as to whether interest was payable under the proceedings pending before the settlement commission under chapter xix-a of the act held that the applicant has to pay additional amount of tax with interest for which the application for settlement would be maintainable upto the stage of section 245d(1) and the settlement commission cannot reopen its concluded proceedings under ..... accordingly, the said amendment was challenged on the ground that the applicability of sections 234a, 234b and 234c relating to levy of interest in case of default in filing return and delay in payment or deferment of advance tax to the proceedings before the settlement commission under chapter xix-a, had been referred to the constitution bench of the supreme court in brij lal and others vs. ..... ) as substituted by an amendment by the finance act, 2007 with effect from 1.6.2007 being ultra vires.2. ..... our view is supported by the amendment made by finance act of 2007 w.e.f. ..... it was noticed that amendment made by the finance act, 2007 with effect from 1.6.2007 was for this purpose. ..... vide amendment from 1.6.2007 changes were made in sub sections (2a) & (2d) of section 245d and section 245ha which provided where an application for settlement of case before the settlement commission was made before 1.6.2007 then tax along with interest thereon must be paid on or before 31.7.2007 failure of which would result in the application not to proceed further.4. .....

Niemla Textile Finishing Mills P. Ltd. Vs. Income-tax Officer and Anot ...

Court : Punjab and Haryana

Reported in : (1985)45CTR(P& H)263; [1985]152ITR429(P& H)

..... 'later, by the finance act 1965, chapter xxii-b pertaining to tax- credit certificates was inserted in ..... the manufacture or production of any of the articles mentioned in the first schedule to the industries (development and regulation) act, 1951, is, in respect of its profits and gains attributable to such manufacture or production, -.........and the tax for any such succeeding year exceeds -(a) in the case referred to in clause (i), the tax payable for the base year; (b) in the case referred to in clause (ii), the tax payable for the succeeding base year,than the company shall be granted ..... of the finance act of 1968 ..... held therein that a dispensing chemist who prepares mixtures in accordance with the prescription provided by customers, manufactures of produces goods for sale under the finance act. ..... that he would decline to be drawn into an academic discussion as to the abstract meaning of the term 'manufacture' and confined to the particular meaning attributable to it in the context of the bengal finance (sales tax) act, 1941. ..... the language was in the widest amplitude with regard to 'manufacture or produce goods for sale' in the bengal finance (sales tax) act, 1941. ..... of such tax payable by the company for the year'.now, reading the provisions of the act and chapter xxii-b of ..... therein, it was held in the context of the central sales tax act 1956, that bleaching or dyeing or raw cloth turns it into a different marketable commodity and, as such amount to 'manufacture' of a commercially .....

Kamal Sood Vs. Union of India and anr.

Court : Punjab and Haryana

Reported in : (2000)160CTR(P& H)199; [2000]241ITR567(P& H); (2000)124PLR474

..... it is contained in chapter-iv of the finance act consisting of ss. ..... 67(2) of the finance act, clearly stipulates that if the declarant fails to pay tax in respect of the voluntarily disclosed income before the expiry of three months from the date of filing of the declaration, the declaration filed by him shall be deemed never to have been made under the scheme. ..... 67 of the finance act he could pay that tax within three months from the date of filing of the declaration along with interest for delayed payment. ..... the observations made by the learned judges are too wide and they proceeded on the basis as if 31st march, 1998, was the last date for the deposit of tax 31st march, 1998, is the last date only for those who filed their declaration on 31st december, 1997, and not for all declarants. ..... it is true that the declaration could be made on or before 31st december, 1997, and where a person makes a declaration on 31st december, 1997, he could deposit the tax simultaneously with the declaration or within three months up to 31st march, 1998, but for those who filed the declaration earlier, the period of three months would be counted from the date of declaration and not ..... sawhney, learned senior counsel for the department, on the other hand, strenuously urged that the scheme, does not give any power to the cit to condone the delay in the deposit of tax and, therefore, the cit had no option but to reject the declaration filed by the petitioner, no matter that the delay was by one day only. .....

Smt. Vidya Devi Vs. Cit

Court : Punjab and Haryana

Reported in : (1998)150CTR(P& H)365

..... of commencement of this scheme;which has escaped assessment by reason of the omission or failure on the pail of such person to make a return under the income tax act or to disclose fully and truly all material facts necessary for his assessment or otherwise,then, notwithstanding anything contained in the income tax act or in any finance act, income-tax shall be charged in respect of the income so declared (such income being hereinafter referred to as the voluntarily disclosed income) at the rates specified hereunder, namely ..... ordersinghvi, jsince a common point involving interpretation of sections 62 to 68 of the finance act, 1997 (hereinafter referred to as 'the 1997 act') and section 297, read with sections 147 to 150, of the income tax act, 1961 (hereinafter referred to as 'the 1961 act') arises for adjudication in these petition, we arc deciding them by one order.facts2. ..... has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose ..... chapter iv of the 1997 act contains detailed provisions relating to the scheme. .....

Commissioner of Wealth Tax Vs. Shanti Parshad JaIn and ors.

Court : Punjab and Haryana

Reported in : (2009)222CTR(P& H)246

..... no doubt, by the finance act, 2008, section 268a has been inserted with retrospective effect from 1st april, 1999 as under:268a. ..... 1989-90, the ao while framing/finalizing the assessment for the said assessment year under section 16(3) of the act, has accepted the value of the right to receive compensation at nil amount as declared by the assessees. ..... these appeals were pending at the time of making of the wealth-tax assessments.for the purpose of making assessment under the wt act, the iac was of the view that the assessee's right to receive additional compensation was to be included in his wealth on the valuation date of 31st march, 1976. ..... when the matter came up before the commissioner of wealth-tax (for short the 'cwt) in cases other than the case of shri d.p. ..... in view of the arbitrary manner of proceeding in the matter, it will not be proper or in the interest of justice to allow the revenue to recover tax from one assessee while deciding not to recover tax from another assessee on identical facts. ..... time to time, issue orders, instructions or directions to other it authorities, fixing such monetary limits as it may deem fit, for the purpose of regulating filing of appeal or application for reference by any it authority under the provisions of this chapter. ..... satish panalal shah : [2001]249itr221(sc) wherein the supreme court had deprecated the practice of the revenue in accepting the correctness of a particular issue in one case and challenging its correctness in another case. .....

P.G.F. Ltd. Vs. Union of India (Uoi)

Court : Punjab and Haryana

Reported in : [2005]124CompCas201(P& H); (2004)4CompLJ288(P& H); [2004]55SCL165(Punj& Har)

..... . the respondent through a writ petition filed in this court had challenged the vires of section 24 of the finance act, 1969, by which an amendment was made to the provisions of the wealth tax act, 1957, to include the capital value of agricultural land, for computing 'net wealth', inter alia, on the ground, that under the scheme of the constitution, only the state legislatures had power to legislate on ..... entry 84 there is exclusion of duties of excise on a alcoholic liquors for human consumption and on opium, indian hemp and other narcotic drugs and narcotics; in entry 86, agricultural land has been excluded from the field of taxes on the capital value of the assets; in entry 87, agricultural land has again been excluded from the union estate duly in respect of property; and in entry 88, agricultural land has been further excluded from the incidence ..... activities of the pgfl pertain to a subject falling under an entry in the state list (entry 18), and therefore, are not subject to regulation at the hands of a law enacted by parliament conversely, it is reiterated that the sebi act, was enacted to regulate securities and future markets, and since the activities of the pgfl (sale and purchase of agricultural land and/or development of agricultural land) by no stretch of imagination, can be stated to fall under the ..... words what pgfl could not have done directly, is being done indirectly.57 ..... pointed out that the crystalised value of the land as on 29-1 -2001 was stated to be approximately rs .....