Judgment Search Results Home > Cases Phrase: finance act 2001 section 134 amendment of act 5 of 1986 Court: chennai Page 7 of about 167 results (0.161 seconds)

M. Ct. Bank Ltd. (In Liquidation) Vs. Commissioner of Income-tax, Madr ...

Court : Chennai

Reported in : [1963]48ITR678(Mad)

..... companies were not taken into account in fixing the rate applicable to the income of the company for the purpose of grossing up the assessees income from dividends and the rates mentioned in the relevant finance act were applied without any deduction, as has been done, the assessee would, in its assessment proceedings, have got credit for more tax as having been paid on its behalf by the company while ..... that 'the rate applicable to the total income of the company' in sub-clause (b) of clause (ii) of the explanation read with clause (ii) of the proviso to paragraph (b) of schedule i of the finance act of 1951, referred not to the rate prescribed by the act for the relevant year generally in reference to income of companies but to the rate actually applied in the given case and that therefore the rate at which the company was liable to pay ..... section 5 of the finance act of 1959 with effect 1st april, 1960, has substituted sub-section (1a) of section 12 of the income-tax act and, consequently, omitted section 16 (2) of the act ..... up was done by applying the rate fixed by the finance act, and subtracting therefrom the relief secured by the company under section 49d, the assessee would get relief on the basis of a lower rate of tax which means it would pay more on its income, but when the company distributes the relief secured by it under section 49d as dividend, it would be reimbursed to that ..... the reasons for this amendment in 1948 seems to be that while the finance act of 1947 levied a .....

Commissioner of Central Excise Vs. Burn Standard Co. Limited

Court : Chennai

..... the retrospective amendment in cenvat credit rule 6, done by section 73 of the finance act, 2010, the tribunal pointed out that the assessee had submitted necessary application as per section 73 of the finance act, 2010 and ..... as the present case is concerned, the claim of the assessee is not sustainable and the same has to be decided as per the then existing rule and the amended provision of section 73 of finance act, 2010 will not be applicable to the case on hand. ..... order of the central excise and service tax appellate tribunal by raising the following questions of law:- "(i) whether the appellate tribunal was correct in applying the amendment to rule 6 of the cenvat credit rules, 2004 vide finance act, 2010 which is applicable for the period from 10th september 2004 to 31st march 2008 whereas the period is dispute being april 2008 to december 2008. ..... a reading of the amendment made to rule 6 under section 73 of the finance act, 2010, shows that the amendment procedure of the cenvat credit under rule 6 ..... authority, the tribunal remitted the matter back to the adjudicating authority for deciding the matter afresh in the light of the amendment to the rules along with the application filed by the assessee under section 73 of finance act, 2010. ..... appeal by remanding the matter back to the adjudicating authority for deciding the matter afresh, in the light of the retrospective amendment to the rules along with an application filed by the assessee under section 73 of the finance act, 2010. .....

Commissioner of Income Tax Vs. Mrs. C. Malathy

Court : Chennai

Reported in : (2008)214CTR(Mad)173

..... on the 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and(b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, re-assessment or re-computation as specified in sub ..... , where a return has been furnished during a period commencing on 1st of october 1991 and ending on 30th of september 2005 pursuant to a notice served under section 148 and a notice under section 143(2) has been served after the expiry of twelve months as specified under section 143(2) as it stood before the amendment under the finance act, 2002, but before making the assessment, every such notice shall be deemed to be a valid notice; in the circumstances, the order of the tribunal ..... since the return should be treated to be one filed under section 139, the tribunal considered this plea and found that considering the scope of section 143(2) and the fact that the assessing officer had issued the notice on 16th october 1999 beyond the time limit of twelve months which expired on 31st july, 1999, the assessment passed on 29th march 2001 was not a valid assessment. .....

Binny Limited and ors. Vs. Union of India (Uoi)

Court : Chennai

Reported in : 1979CENCUS290D; 1979(4)ELT230(Mad)

..... particular blending'.in another portion of the judgment they have held as follows --'therefore, on no process of construction, this new blended yarn produced by the company could be treated as excisable item for the earlier period before the finance act of 1972, which introduce a clear unequivocal item no. 18e to cover such goods which were produced by the mixture of two or more fabrics-man-made and natural ..... . he invited my attention to the following passages occurring in brussels fourth impression, 1966, volume 2, sections viii to xv, chapters 41 to 83, at pages 707-708 :'goods classifiable in any heading in chapters 50 to 57 and of a mixture of two or more different textile materials are to be classified according to the following rules :(a) goods containing more than 10% by weight of silk, noil or ..... . 1058 of 1972 and in terms of section 17 (equivalent to article 96 of the old act) of the limitation act of 1963, the petitioners have a limitation period of three years to file writ petitions or suits to ask for refund of tax ..... . in the event of the petitioners filing suits in the civil courts, the period of pendency of these writ petitions will stand excluded for computing the period of limitation under section 17 of the limitation act ..... . no distinction can, therefore, be made in respect of a tax liability and any other liability on a plain reading of the terms of section 72 of the indian contract act ... .....

Kikani Exports Vs. Commissioner of Central Excise, Coimbatore and Comm ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... as far as revenue's appeal is concerned the dispute is now well settled that prior to introduction of section 66a in finance act, 1994, no demand for service tax from recipient of service under reverse charge mechanism as per rule 2 (1) (d) (iv) could be sustained. ..... 235 (bom) and held that service tax demand for the period prior to 18-04-06 when section 66a was introduced in finance act, 1994 is not sustainable. ..... further penalties under section 76 and 78 of finance act 1994 were imposed. ..... subsequently, a show cause notice was issued on 09-05-08 for demanding service tax and interest and also for imposing penalties under various sections of the finance act, 1994. ..... the finding of bombay high court was that rule 2(1) (d) (iv) of service tax rules, 1994 was ultravires the provisions of finance act, 1994. ..... further a penalty of rs.1000/- was imposed under section 77. ..... in the adjudication order, the demand of rs.7,78,559/- was confirmed against the appellant along with interest under section 75. .....

Commissioner of Wealth-tax Vs. Kodaikanal Club

Court : Chennai

Reported in : (2003)181CTR(Mad)534; [2003]260ITR617(Mad)

..... above view, we hold that section 40 of the finance act does not apply to an entity declared as a company by the board. ..... , considering the object behind section 40 of the finance act, 1983, and the purpose for which section 40 was introduced reintroducing levy of wealth-tax in a limited way and in a limited manner and taking note of the marginal heading of section 40 of the finance act and subsequent amendments made in 1992, the intention behind the section and the language employed in the section, we are of the view that the section should be so interpreted to achieve the object behind the section 40 of the wealth-tax act and considered in the ..... the said request was rejected by the board on march 21, 1986. .....

Smt. P. Balammal, Karur Vs. the Controller of Estate Duty, Madras

Court : Chennai

Reported in : (2004)189CTR(Mad)147

..... commissioner of wealth tax' and held that there are no distinguishable principles in section 68 of the finance act, 1965 and the voluntary disclosure of income and wealth ordinance act, 1975 in spite of certain dissimilarities, but the objects of both the schemes are to encourage disclosure of concealed income and there is no distinction in principle regarding the deductibility of the tax ..... the court also held that section 68 of the finance act 1965 under which the declaration was made prescribed the procedure for assessment of the concealed income but the liability was ..... yet its function was no more than that of a finance act passed annually even though it made certain alterations with regard to filing ..... of estate duty paid is not liable to be taken into account in determining the principal value of the estate either under section 36 of the act, nor deductible under section 44 of the act as the estate duty liability under the estate duty act arose subsequent to the death and therefore, not liable to be taken into account. ..... 'the declaration contemplated under s.68 of the finance act,1965, is a declaration in respect of income of earlier years which had been concealed and on which tax was payable during the ..... sharma' () dealt with the case of deduction of liability which arose on voluntary disclosure of income scheme under section 68 of the income-tax act in determining the net wealth of the assessee and whether the tax paid under the voluntary disclose scheme is a debt which should .....

The Commissioner of Income Tax Vs. Tirupur Sri Meenakshi Sundareswarar ...

Court : Chennai

Reported in : (2003)180CTR(Mad)174; [2003]262ITR129(Mad)

..... on the facts and in the circumstances of the case the tribunal was right in law in holding that the property let out by the assessee was not an asset exigible to wealth tax within the meaning of section 40(3)(vi) of finance act, 1983?2.the short facts are that the assessee is a closely held company in which the public are not substantially interested and its assets are subjected to wealth tax. ..... objects for letting out the properties, the company was owning the property as a landlord and therefore,that part of the building let out to punjab national bank was exigible to wealth tax under section 40(3) of the finance act,1983. ..... that arises is whether the value of the portion of the building which was let out by the assessee in favour of punjab national bank would be an exempted asset from the list of assets found in section 40(3) of the finance act 1983? ..... ,' : [2001]248itr629(bom) and submitted that the income of the property was treated as business income under the income tax act and therefore, the asset of the assessee should be taken as a ..... 171 to 173 of 2001 dated 11.2.2002 and held as under:-'however, even considering the question on merits, we are of the clear opinion that an order passed in the wealth tax proceedings would have no effect on the income ..... 171 to 173 of 2001 (in which one of us was a party) by judgment dated 11.2.2002 has held that the presence of the object clause in the memorandum of association is not relevant and what has to be seen is whether the property was .....

Mediaone Global Entertainment Ltd. Vs. Chief Commissioner of Central E ...

Court : Chennai

..... of india praying to issue a writ of declaration or other appropriate writ, direction or order in the nature of a writ, declaring that the circular no.148/17/2011-st dated 13.12.2011 issued by the 2nd respondent as ultra vires to the provisions of section 66 of the finance act, 1994 as amended; entry 54 and entry 62 of list ii of schedule vii and articles 14, 19(1)(g), 246 and 265 of the constitution of india as ultra vires, in so far as the petitioner is concerned. ..... of constitution of india praying to issue a writ, order or direction, more specifically in the nature of a writ of declaration declaring the circular no.148/17/2011-st dated 13.12.2011 issued by the 2nd respondent as ultra vires to the provisions of section 66 of the finance act, 1994 as amended; entry 54 and entry 62 of list ii of schedule vii and articles 14, 19(1)(g), 246 and 265 of the constitution of india, in so far as the petitioner is concerned. ..... introduced vide section 65(105)(zzzzt) and also the amendment in section 65(104c), circular no.148/17/2011-st dated 13.12.2011 was issued under section 83 of the finance act read with section 37b of the central excise act issuing clarification regarding the levy of service tax on distributors/sub-distributors of films and ..... the amendment to clause (104c) of section 65 by finance act 2011, may be very crucial for this case, as by the said amendment, the words operational assistance for marketing was substituted with the words operational or administrative assistance in .....

All India Tax Payers Welfare Association Vs. Union of India (Uoi)

Court : Chennai

Reported in : (2006)205CTR(Mad)360; 2006[4]STR14

..... as contemplated under sections 12a and 12b of the central excise act, hence, the action of the second respondent is legally ..... service tax from the customer as contemplated under section 12a and 12b of the central excise act; that the petitioners laid their case without taking note of section 83 of finance act, 1944 and presented the case as if the second respondent is collecting the service tax in contravention of sections 65, 66, 68, and 70 of finance act without being aware of the subsequent amendments made to the said section namely section 71a; that the provider of service as assessee under section 65 of the finance act is to collect service tax from the user of service .....