Judgment Search Results Home > Cases Phrase: finance act 2001 section 71 insertion of new section 194h Page 1 of about 17 results (0.108 seconds)

Singapore Airlines Ltd. Vs. C.i.t.,delhi

Court : Supreme Court of India

..... the question that arises for our consideration pertains to the interpretation of section 194h of the income tax act, 1961 ( it act ) as introduced by the finance act, 2001, with effect from 01.04.2000. ..... not to be imposed in certain cases: notwithstanding anything contained in the provisions of clause (b) of sub section (1) of section 271, section 271a, section 271aa, section 271b, section 271ba, section 271bb, section 271c, section 271ca, section 271d, section 271e, section 271f, section 271fa, section 271fb, section 271g, clause (c) or clause (d) of sub section (1) or sub section (2) of section 272a, sub section (1) of section 272aa, or sub section (1) of section 272bb or sub section (1a) of section 272bb or sub section (1) of section 272bbb or clause (b) of sub page 47 of 53 section (1) or clause (b) or clause (c) of sub section (2) of section 273, no penalty shall be imposable on the person or the assessee, as the case may be, for any failure referred to in the ..... the act has, therefore, inserted a new section 194h relating to deduction of tax at source from income by way of commission (not being insurance commission referred to in section 194d) and brokerage. ..... insertion of a new provision for deduction of tax at source from payments in the nature of commission or brokerage 73.1 an effective method of widening the tax base is to enlarge the scope of deduction of income tax at source. ..... sundresh) new delhi: november 14, 2022 page 53 of 53 ..... new delhi ..... .....

Abu-dhabi Commercial Bank Ltd. Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... with regard to tax treaties with 4-countries, which are subsequent to insertion of this explanation to section 90 by the finance act, 2001, we are of the considered opinion that in spite of insertion of this explanation in section 90, insertion of such clause in tax treaties with the outside countries is always advisable to avoid any confusion; but that does not mean that if there is no such specific provision in the tax treaty with any country, this explanation to section 90 will not apply and hence, this contention of the counsel ..... connection, we find that anexplanation has been inserted in section 90 by the finance act, 2001 with retrospective effect from 1-4-1962. ..... , it can be seen that this explanation was inserted for removal of doubts; and the same is inserted by the finance act, 2001. ..... it is also submitted that it was also pointed out in course of hearing of the appeal that the treaty between india and new zealand was introduced in 1987; and the same was amended in 2000 and as per this amendment made in 2000, certain words were added in article 24(2), which reads as under: this provision shall not be construed as ..... the impugned tribunal order; and it has been held by us in that para that for the purpose to satisfy explanation to section 2(22 a), arrangements prescribed in rule 29 with regard to section 194h are applicable and hence, it cannot be said that no arrangement is prescribed for the purpose of 'domestic company' as per the definition of that term in section 2(22a). .....

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... further submitted that insofar as inter-state sales are concerned, section 2(g) of central sales tax act has been amended by finance act,2002 inserting various clauses of deemed sale in terms of article 366(29a ..... 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 the provisions of section 65(105)(zzzzt) of the finance act, 1994 is beyond the legislative competence of the union of india under article 248 of the constitution of india, and void being repugnant to article 14 and 19(1)(g) of the constitution of india and accordingly unenforceable. ..... support service has been amended in 2011 by means of a circular bearing no.148/17/2011-st dated 13.12.2011 (bearing f.no.354/27/2011-tru) issued by the central board of excise and customs, new delhi to include operational or administrative assistance in any manner in its definition. ..... state of andhra pradesh, (2001) 4 scc629 the hon'ble supreme court held as under:- a 'goods', may be a tangible property ..... 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 .....

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 ..... 16 in the decision reported in 2010 (4) lw626 infotech software dealers association versus union of india, ministry of finance, department of revenue, central board of excise and customs.new delhi-1 and 4 others.two writ petitions were filed seeking to declare section 65(105)(zzzze) of chapter v of the finance act, 1994 (as amended by the finance act 2 of 2009) as null and void in and by which, an information technology software is also brought under the meaning of taxable service and the ..... 1 the union of india represented by secretary to government ministry of finance new delhi 2 the commissioner central excise and service tax gobichettipalayam 3 the gobichettipalayam municipality represented by its commissioner gobichettipalayam respondents prayer in w.p.no.16400 of 2013: writ petition filed under article 226 of the constitution of india, seeking a writ of declaration, declaring the provisions of section 65(90a) and section 65(105)(zzzz) of the finance act, 1994 as ultra vires and unconstitutional and unenforceable. .....

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

Court : Supreme Court of India

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

..... 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 ..... 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 ..... 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 ..... meaning of the word 'surcharge' as given in the webster's new international dictionary includes among others 'to charge; (one) too much .....

Kanoria Industries Ltd. Vs. Union of India (Uoi)

Court : Karnataka

Reported in : 2005(190)ELT295(Kar)

..... provisions of law or rule and therefore there was no occasion at all for the parliament to have enacted a validating levy and if there was no occasion, the very provisions of section 112 of the finance act, 2000 cannot be sustained inasmuch as it is the submission of learned counsel for the petitioners that there was no cause of action for the parliament to make such a law, ..... has been deprived of modvat credit to which the petitioners are otherwise entitled to in terms of the rules governing allowing of modvat credit, only because of the provisions of section 112 of the finance act, 2000, the petitioners are entitled to question the legality of this provision and further submits that even the supreme court while disposing of the review petition in the case ..... court had earlier dismissed the appeal of the revenue as against this order, nevertheless, the revenue having brought to the notice of the supreme court the provisions of section 112 of the finance act, 2000, which was enacted as a validating legislation and which had now virtually taken away any benefit or concession that had been given to an assessee under the ..... have continued to reap the benefit of modvat credit and the petitioner therefore feeling aggrieved by this endorsement as also the provision of section 112 of the finance act, 2000, has challenged the constitutional validity of this statutory provision and for quashing the consequential endorsement and further direction for restoration of the modvat credit entry.4. .....

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)288ITR226(Hyd.)

..... dcit 83 itd 398 had occasion to consider the applicability of the amended provisions of section 254(2a) inserted by the finance act, 2001 with effect from 1.6.2001, to the matters where stay had already been granted prior to that date. ..... a new charge, then it is immaterial whether that power is exercised by incorporating the charge either in the income-tax act or any other statute, it should not be lost sight of that the legislative competence of parliament is not in question at all and that section 158ba(2) in chapter xivb and section 113 in chapter xii are also provisions in the income-tax act, which is enacted by parliament, and that there is a definite inconsistency or incongruity in the provisions of surcharge in a block assessment as per the finance acts ..... finance act and then as regards the interpretation of the finance act of 1963, and c) the court has concluded that a new and independent charge could be validly introduced by the finance act.kind attention of the bench is drawn to the observations of the hon'ble supreme court at pages 30, 32, 34 and 35 of the report. ..... . the finance act did not lay down that it should be taxed as part of the total income.in that case, the argument that it was not necessary to look only to section 3 of the indian income-tax act, 1922, (which was the then charging section), but also to the provisions of the finance act through which the parliament could impose a new tax, if it so pleased, was not dismissed by the court .....

Karvy Consultants Limited Vs. Government of India

Court : Andhra Pradesh

Reported in : 2006[]STR75

..... after strictly construing section 65(19) of the finance act, 2003, that the functions of the registrar and share transfer agent is a service rendered which is in the nature of incidental or auxiliary support service rendered in the contract of sale of goods (securities ..... , during the relevant period, as share transfer agent, is in the nature of incidental or auxiliary support service in the sale of goods (securities) belonging to the client and falls within the purview of section 65(19)(iv) of the finance act, 2003, that the impugned show cause notice merely demanded service tax on service charges collected by the petitioner towards such services rendered from 1-7-2003 to 31-1-2004, that the show cause notice was issued ..... purposes of this clause, 'information technology service' means any service in relation to designing, developing or maintaining of computer software, or computerized data processing or system networking, or any other service primarily in relation to operation of computer systems.section 65(19), as amended by finance act, 2004 with effect from 10-9-2004, reads thus :-business auxiliary service' means any service in relation to :-(i) promotion or marketing or sale of goods produced or provided by or belonging to the client; or(ii) promotion or marketing of service .....

State of West Bengal Vs. Calcutta Club Limited

Court : Supreme Court of India

..... 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 any other valuable consideration: 79. ..... the finance act, 2007 brought 7 new services under the service tax net and six telecom related services were omitted and merged into one new category of taxable service. ..... further, the finance (no.2) act, 2004 brought 13 new services under service tax which included reintroduction of service tax on 3 services and also made applicable service tax on risk cover in life insurance under the life insurance service, whereas this service was introduced in ..... its scope was further widened by the finance act, 2001 when service tax was extended to include fifteen more services. ..... with effect from 1st july, 2012, sections 65 and 65a were made inapplicable, and a new section 65b introduced, in which under section 65b(37), the term person was defined as follows: (37) person includes,- (i) an individual, 65 (ii) (iii) (iv) (v) (vi) (vii) a hindu undivided family, a company, a society, a limited liability partnership a firm, an association of persons or body of individuals, whether incorporated or not, (viii) government, (ix) (x) a .....

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 .....