Judgment Search Results Home > Cases Phrase: finance act 2001 section 134 amendment of act 5 of 1986 Court: chennai Page 1 of about 167 results (0.167 seconds)

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... w.p.no.1676 of 2013 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 of the constitution of india declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... respondents w.p.no.29398 of 2010 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... state of andhra pradesh, (2001) 4 scc629 the hon'ble supreme court held as under:- a 'goods', may be a tangible property or an intangible one. ..... no.b.11/1/2001-tru dated 9.7.2001 in which it has been clarified that service tax, in the case of financial leasing including equipment leasing and hire-purchase, will be leviable only on the lease management fees/processing fees/documentation charges recovered at the time of entering into the agreement and on the finance/interest charges recovered in equated monthly installments and not on the principal amount). .....

G.V.Matheswaran Vs. the Union of India

Court : Chennai

..... 33 w.p.nos.14887, 19322, 20982 and 24804 of 2010 are filed seeking a writ of prohibition prohibiting the respondents from (a) giving effect to the provisions of section 65(90a) read with section 65(105)(zzzz) of the finance act, 1994 as amended by the finance act, 2007 and finance act, 2010 (b) levying or attempting to levy, collect or recover from the petitioner, any service tax under the said provisions and (c) levying or attempting to levy, collect or recover from the land owners of the petitioner, any service ..... 32 w.p.nos.24586 and 24588 of 2010 are filed seeking to declare that (i) the impugned provisions, i.e.section 65(105)(zzzz) read with section 65(90-a) of the finance act, 1994, as amended by the finance act, 2010, as null and void and ultra vires and violative of entry 49, list-ii, seventh schedule, articles 14, 19 and 246(3) of the constitution of india, (ii) section 76(a)(6)(h) and section 77 of the finance act, 2010 as null and void and ultra vires the constitution of india insofar as the petitioners are concerned; and (iii) the notification ..... 51 w.p.no.8932 of 2011 is filed by the tamil nadu slum clearance board, seeking to declare the provision of sub-section 9(a) of section 65 of the finance act, as amended by the finance act, 2007, as invalid and this court is not inclined to go into the same as the said provision is intra vires of the constitution in view of the decision taken by this court in paragraph no.30 above, following the decision in home solutions .....

Commissioner of Income-tax Vs. L.G. Balakrishnan

Court : Chennai

Reported in : [2002]255ITR339(Mad)

..... in the respective assessments in the absence of particulars furnished by the assessee 2. whether on the facts and in the circumstances of the case and having regard to the provisions of rule 9(5) of part iv of the first schedule to the finance act, 1979, the appellate tribunal was right in holding that there was neither an obligation on the assessee to return the net agricultural loss for the earlier years in the assessment of those years nor a duty ..... assessee is not to be denied the benefit of set off provided for in rule 9 of part iv of the first schedule to the finance act, 1979, as long as the assessee is able to show that he had incurred loss from his agricultural activities in the earlier assessment years after a computation made in accordance with the requirements of the rules provided in the relevant finance acts and that such loss had not been set off against the agricultural income of earlier years ..... . if the assessee is able to show that the result of the computation by applying the rules set out in the finance acts of 1974 and subsequent years prior to 1979, is a loss, the assessee is not to be denied the benefit of having that loss set off against the agricultural income of the previous year relevant to the assessment ..... despite the absence of provisions similar to sections 80 and 139(3) with regard to the need for having the loss determined in the relevant assessment year before claiming the right of carry forward of the loss to subsequent assessment years, the revenue .....

Commissioner of Income-tax Vs. Madras Motor and General Insurance Co. ...

Court : Chennai

Reported in : [1975]99ITR243(Mad)

..... rule has employed a similar language as contained in section 99(1)(iv) as amended by the finance act and for the reasons stated above the dividend income ..... that the assessee is entitled to rebate under section 99(1)(iv) as amended by the finance act, 1964, on the entire gross amount ..... the appellate assistant commissioner took the view that the assessee was not entitled to any rebate on the dividend income at all under the provisions of the finance act, but since the income-tax officer had given a rebate on the dividend income as duly reduced by proportionate expenses incurred by the company he could not find any reason ..... while deleting the provisions of section 99, finance act, 1968, by section 31(3) omitted the words 'received by it' with ..... the finance act of 1964 amended this provision by substituting the following clause (iv):'if the assessee is a company, any dividend received by it from an indian company or a company which has made the prescribed arrangements for the declaration and payment ..... that the entire dividend income should be exempted from levy of corporation tax by virtue of the provisions of section 99(1)(iv) read with the finance act, 1964, paragraph d, part ii. ..... section 44 which enjoins the computation of income of an insurance company without reference to the different heads of income, has obviously a direct bearing on the process of computation of income ; but it has no bearing on the determination of the rate of tax which is prescribed by the relevant finance act .....

The Commissioner of Income Tax Vs. Asoka Betelnut Co. Pvt. Ltd.

Court : Chennai

Reported in : (2003)180CTR(Mad)178

..... assessment year 1986-87 reads as under:-whether the tribunal was right in law in holding that the building asoka plaza is not to be treated as 'plant' of the applicant's business of real estate developing and managing office and commercial complexes duly authorised by the applicant's memorandum of association of the company but is to be treated as 'building' chargeable to wealth tax in the hands of the applicant under the provisions of section 40 of the finance act, 19833. ..... , hotel or office for the purposes of its business or as residential accommodation for its low paid employees will be excluded from net wealth'.a reading of the speech of the finance minister shows that section 40 of the finance act was introduced as a tax avoidance measure and the sub section (3) of section 40 of the finance act shows that the levy of wealth tax is not confined to assets transferred to closely held companies by the director of the company or his relatives. ..... that the motor cars, owned as stock in trade of the dealer are liable to be taxed as the words used in section 40(3) of the finance act 1983, do not preclude the exclusion of stock in trade from the list of assets to be valued for the purpose of ..... that all building used for the purpose of the business is exempt is not acceptable and the acceptance of the said submission would mean that the expression in section 40(3)(vi) of the finance act, factory, godown, warehouse, hotel or office used for the purpose of business would become redundant. .....

Arun Excello Foundations (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : LC(2007)(3)269

..... 1st april, 2000 has laid down various conditions and the provisions of section 80-ib amended by various finance acts as amended w.e.f. ..... 2) act, 2004 w.e.f.1st april, 2005, sub-section (10) as amended by the finance act, 2000 w.e.f. ..... (ii) the learned cit(a) ought to have appreciated that there was no ambiguity nor scope for interpretation in view of the clear language of the section which did not postulate any restriction regarding the extent of shops and commercial establishments under section 80-ib(10) and such restrictions with retrospective effect imposed only by finance act, 2004 w.e.f. ..... in order to be eligible undertaking, developing and building housing projects and for claiming deduction under section 80-ib(10), finance act, 2000 w.e.f. ..... 1st april, 2000 by the finance act, 2000 and by the finance act, 2003 and as substituted by the finance (no. ..... it is seen from the orders of the lower authorities that they have relied mainly on the amended clause (d) of section 80-ib(10) which has been brought on the statute book w.e.f. ..... 1st april, 2000 and the same reads as under: liberalisation of tax holiday to approved housing projects--under section 80-ia of the it act, profits of approved housing projects where the development and construction commences on or after 1st oct. ..... 1st april, 2001 and finance act, 2003 w.e.f. ..... , 1998 and is completed by 31st march, 2001 are fully deductible. .....

Kasturi and Sons Ltd. Vs. Union of India Rep. and ors.

Court : Chennai

..... there has been exemption in respect of maintenance of computer software prior to 2006, it is not even their case that in 2007, when the amendment was brought in the finance act, it was given retrospective effect and even the altered definition of the term, goods in the amendment of 2007 in the finance act, 1994 under section 65(105)(zzg) also was not given retrospective effect and hence, it cannot be said that the impugned circular attempts to give effect to ..... payment of service tax on maintenance charges payable to the company in denmark and therefore, the impugned circular is challenged on various grounds including that the same is ultra vires section 83 of the finance act, 1994 and section 37b of the central excise act, 1944, that when the section itself takes away the maintenance of software from the purview of service tax, the second respondent cannot by virtue of such circular impose service tax, that it is ultra ..... to the respondents, the maintenance branch of information technology was brought into the purview of service tax structure by the amendment made to section 65(19) by explanation (b) in finance act, 2004. ..... affidavit filed by the respondents, it is stated that the services done by outsourcing agencies are to be treated as business auxiliary service as defined under section 65(19) of the finance act, 1994 as substituted by the finance (no.2) act, 2004 and the definition information technology service includes computer software, system networking, data processing, etc. .....

Secy. Federn. of Bus-operators Assn. of T.N. Vs. Union of India (Uoi)

Court : Chennai

Reported in : 2001(134)ELT618(Mad); 2006[2]STR411; [2007]6STT49

..... the requirement but, that is not necessary any more in view of the clearest possible language of the amended provisions like section 65(38) of the finance act, which we have already shown earlier ..... . the learned counsel thereafter contended that the permit contemplated under section 65(52) of the finance act is essentially a 'tourist permit' and since the spare bus owned by the petitioners could be operated only under section 88(8) of the motor vehicles act by way of a special permit and not on the basis of the tourist permit as contemplated under section 88(9) of the motor vehicles act, the provisions of section 65(52) of the finance act would not be applicable and the petitioners plying their spare ..... therefore, no hesitation first to hold that the first and foremost condition for a person to be held as a 'tour operator' within the meaning of section 65(52) of the finance act is that he must be engaged in the business of operating tours in a 'tourist vehicle' in terms of section 2(43) of the motor vehicles act and in no other type of vehicle and, therefore, necessarily such vehicle must conform to the conditions prescribed under rule 128 of the central motor vehicles ..... 17372 to 17378,18715,18716,19782,19817,19987, 19988, 20701, 21247, 21788, 24355, 24540, 24846, 27970, 27973, 14043, 22928, 16820, 22836, 22837,16642,19585 to 19587 of 2000 and 650 of 2001 are closed ..... whatever doubt there may be on the interpretation of entry 97, list-i is removed by the wide 18/134/3 terms of article 248 .....

Cit Vs. Asoka Betelnut Co. (P) Ltd.

Court : Chennai

Reported in : [2003]127TAXMAN331(Mad)

..... or office for the purposes of its business or as residential accommodation for its low paid employees will be excluded from net wealth'.a reading of the speech of the finance minister shows that section 40 of the finance act was introduced as a tax avoidance measure and the subs-ection (3) of section 40 of the finance act shows that the levy of wealth-tax is not confined to assets transferred to closely held companies by the director of the company or his relatives. ..... view that the motorcars, owned as stock-in-trade of the dealer are liable to be taxed as the words used in section 40(3) of the finance act, 1983, do not preclude the exclusion of stock in trade from the list of assets to be valued for the purpose ..... the assessment year 1986-87 reads as under :whether the tribunal was right in law in holding that the building asoka plaza is not to be treated as plant of the applicants business of real estate developing and managing office and commercial complexes duly authorised by the applicants memorandum of association of the company but is to be treated as building chargeable to wealth-tax in the hands of the applicant under the provisions of section 40 of the finance act,1983?3. ..... : [2001]250itr523(mad) has taken the view that unless a business asset is excluded from the scope of section 40(3)(vi) of the finance act, 1983, the asset though a business asset would be liable to be taxed as the list is exhaustive and when the list does not exclude a particular asset, the asset would be .....

The Commissioner of Wealth-tax Vs. Fagun Co. P. Ltd.

Court : Chennai

Reported in : 2007(1)CTC13; (2006)205CTR(Mad)225; [2006]286ITR297(Mad); (2006)4MLJ836

..... then, in respect of that previous year, of a sum by way of investment allowance, equal to twenty-five per cent of the actual cost of the ship, aircraft, machinery or plant to the assessee:in the finance act, the relevant provision in section 40(3), reads as follows:(vi) building or land appurtenant thereto, other than building or part thereof used by the assessee as factory, godown, warehouse, hotel or office for the purposes of its business or as residential accommodation for ..... revival of levy of wealth-tax in the case of closely-held companies -(1) notwithstanding anything contained in section 13 of the finance act, 1960 (13 of 1960), relating to exemption of companies from levy of wealth-tax under the wealth-tax act, 1957 (27 of 1957) (hereinafter referred to as the wealth-tax act), wealth-tax shall be charged under the wealth-tax act for every assessment year commencing on and from the 1st day of april, 1984, in respect of the ..... the supreme court is, therefore, inapplicable to the present case.in wealth-tax act, in computing the net wealth of the assets, all commercial assets as per the provision of section 40 of the finance act are taxable and only particular assets as specified in the exclusionary clause alone are ..... amendment was introduced by finance act ..... assessee relied on the bombay high court judgment reported in : [2001]248itr629(bom) in the case of commissioner of wealth-tax v ..... the bombay high court judgment reported in : [2001]248itr629(bom) in the case of commissioner of .....