Judgment Search Results Home > Cases Phrase: finance act 2001 section 91 insertion of new section 271g Page 1 of about 883 results (0.085 seconds)

Commissioner of Income Tax Vs. P.i. Industries Ltd.

Court : Rajasthan

Reported in : (2009)221CTR(Raj)259

..... it was also considered, that a new section 35dda has been inserted by the finance act, 2001 w.e.f. ..... appeal was admitted on 29th march, 2007 by framing following substantial question of law:whether in the facts and circumstances of the case, the tribunal was in error in allowing the entire claim of deduction under section 37(1) of the amount paid by the assessee towards the dues of its employees whose services were brought to an end under the voluntary retirement scheme ?3. ..... however, the insertion of the said section gives emphasis to the point, that nature of payment on account of vrs is an expenditure, which needs amortization, and no such provision was found in the act for the earlier period, whereby the claim could be ..... , the above discussion shows that it is consistently established legal position, that the expenditure of the nature, as is involved in the present case, is clearly allowable as revenue expenditure under section 37(1) of the act, and we do not find any ground to take any contrary view.16. ..... was held, that such expenditure had been incurred on account of commercial expediency in order to facilitate carrying on business, and was held to be allowable under section 37(1) of the act, and that, it was not of capital nature.12. ..... 907 in the relevant year being the expenditure claimed under section 37(1) of the it act, being the amount paid by the assessee, under the approved voluntary retirement scheme (vrs), which scheme was approved under section 10(10c) vide order dt. .....

Godrej and Boyce Manufacturing Co.Ltd. Vs. Dy.Commr. of I.T.Mumbai and ...

Court : Supreme Court of India

..... while answering the said question this court considered the object of insertion of section 14a in the income tax act by finance act, 2001, details of which have already been noticed. ..... on the other hand, the learned solicitor general of india, who has argued the case on behalf of the revenue has laid before the court the position of law prior to insertion of section 14a of the act by the finance act of 2001. ..... section 14a as originally enacted by the finance act of 2001 with effect from 1.4.1962 is in the same form and language as currently appearing in sub-section (1) of section 14a of the act. ..... the object behind the introduction of section 14a of the act by the finance act of 2001 is clear and unambiguous. ..... therefore, it is proposed to insert a new section 14a so as to clarify the intention of the legislature since the inception of the income-tax act, 1961, that no deduction shall be made in respect of any expenditure incurred by the assessee in relation to income which does not form part of the total income under the income-tax act. 16. ..... no expenditure was incurred to earn the dividend income cannot be accepted and why the orders of the tribunal for the earlier assessment years were not acceptable to the assessing officer, particularly, in the absence of any new fact or change of circumstances. ..... (ashok bhushan) new delhi may8 2017 ----------------------- [1]. .....

Banswara Syntex Ltd. Vs. the A.C.i.T.

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2007)108ITD48(Jodh.)

..... one chapter xiib, containing section 115jb, was inserted by the finance act, 1987 (11 of 1987), ..... now, section 115jb which provided special provisions for payment of tax by certain companies has been inserted by finance act 2000, ..... same clause (viii) in explanation to section 115ja by the finance act, 1997, w.e.f. ..... section 115jb was brought on the statute by finance act 200, ..... the book profit unless the book profit of such year has been increased by those reserves or provisions (out of which the s aid amount was withdrawn) under the explanation to section 115ja (2); or (ii) the amount of income to which any of the provisions of chapter iii, containing sections 10 to 13a, applies, if any such amount is credited to the profit and loss account; or (iii) the amount of loss brought forwards or unabsorbed depreciation, whichever is less as per books of ..... this section reads as under: (1) notwithstanding anything contained in any other provision of this act, where in the case of an assessee, being a company, the income-tax, payable on the total income as computed under this act in respect of any previous year relevant to the assessment year commencing on or after the 1st day of april, 2001, is less than seven and one-half per ..... , 1.4.2001, as has already been ..... provision was relevant in respect of any previous year relevant to the a.y.commencing on or after 1st day of april 1997 but before 1st day of april 2001. ..... 1.4.2001.this provides for a special provision for payment of tax by certain .....

Cce., Ahmedabad Vs. M/S. Om Sai Engg Works and Others

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Ahmedabad

..... following proviso inserted in section 78 of the finance act, 1994 ..... table, the original adjudicating authority imposed penalties under section 78 of the finance act, 1994 (hereinafter referred to as the act) on the respondents for evasion of service tax during the said periods, but did not impose penalty on them under section 76 of the act relying upon the following decisions:(i). ..... section 78 of the act has been amended by the finance act, 2008 and the amendment provides that in case where penalty for suppressing the value of taxable service under section 78 is imposed, the penalty for failure to pay service tax under section ..... sections is imposable as rightly held by kerala high court in krishna poduval (supra), the appellant cannot contend that once penalty is imposed under section 78, there should not have been any penalty under section 76 of the finance act ..... entire agreement with the view expressed by the high court that section 11ac of the central excise act, 1944, is prospective in operation and the illegality committed prior to insertion of section 11ac in the act, cannot be the subject matter of penalty under the said provision. ..... (both cited supra) need to be followed since the view taken therein is better in point of law which, unequivocally, hold that section 11ac of the act being a penal provision providing for mandatory penalty cannot have retrospective operation as such it cannot be invoked in a case where the period of dispute or ..... central excise, new delhi [2002 ..... 2001 ..... 2001 .....

Jct Limited Vs. Income-tax Appellate Tribunal and ors.

Court : Delhi

Reported in : 101(2002)DLT303

..... 1 october 1998 and the two provisos to sub-section (2a) of section 254 of the act, by the finance act, 2001 w.e.f.1 june 2001, respectively providing for levy of fees on the application for stay of demand and fixing the time limit for disposal of an appeal where an order of stay is ..... tax in india; neither any assessment in respect of the said amount has been made on merrill lynch nor the petitioner has been treated as their agent under section 162 of the act and, thereforee, ti cannot be made liable for deduction of tax at source on the expenses incurred; and that the order passed by the assistant commissioner was otherwise barred by limitation. ..... classicus on the subject, while dealing with the issue of power of the tribunal to grant stay, their lordships of the supreme court said that 'the statutory power under this section carries with it the duty in proper cases to make such orders for staying recovery proceedings pending an appeal before the tribunal, as will prevent the appeal if successful, from being ..... tribunal to grant stay of recovery has now been recognised by the legislature also by the insertion of sub-section 7 in section 253 of the act by finance (no.2) act, 1998, w.e.f. ..... section 133-a of the income-tax act, 1961 (for short the act) was conducted at the business premises of the petitioner at new ..... of india is to the order, dated 23 may 2002, passed by the income-tax appellate tribunal new delhi (for short the tribunal) directing the petitioner to pay a sum of rs. .....

Jct Ltd. Vs. Itat, Delhi Bench, and ors.

Court : Delhi

Reported in : [2002]258ITR291(Delhi)

..... 2) act, 1998, with effect from 1-10-1998, and the two provisos to sub-section (2a) of section 254 of the act, by the finance act, 2001, with effect from 1-6-2001, respectively, providing for levy of fees on the application for stay of demand and fixing the time limit for disposal of an appeal where an order ..... ; neither any assessment in respect of the said amount has been made on merrill lynch nor the petitioner has been treated as their agent under section 162 of the act and, thereforee, it cannot be made liable for deduction of tax at source on the expenses incurred; and that the order passed by the assistant commissioner was otherwise barred by limitation ..... while dealing with the issue of power of the tribunal to grant stay, their lordships of the supreme court said that (headnote) : 'the statutory power under this section carries with it the duty in proper cases to make such orders for staying recovery proceedings pending an appeal before the tribunal, as will prevent the appeal, if successful, from being ..... section 133a of the income tax act, 1961 (hereinafter referred to as 'the act'), was conducted at the business premises of the petitioner at new ..... stay of recovery has now been recognised by the legislature also by the insertion of sub-section (7) in section 253 of the act by the finance (no. ..... india is to the order, dated 23-5-2002, passed by the income tax appellate tribunal, new delhi (hereinafter referred to as 'the tribunal'), directing the petitioner to pay a sum .....

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

Court : Supreme Court of India

..... of section 194h of the income tax act, 1961 ( it act ) as introduced by the finance act, 2001, with ..... 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 ..... spurred by the reintroduction of section 194h in the it act by the finance act, 20015, the revenue sent out notices to the ..... cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income tax thereon at the rate of five per cent: provided that no deduction shall be made under this section in a case where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year to 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 .....

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 .....