Judgment Search Results Home > Cases Phrase: finance act 2001 section 91 insertion of new section 271g Court: chennai Page 1 of about 30 results (0.066 seconds)

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 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)

..... 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 ..... 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 ..... while deleting the provisions of section 99, finance act, 1968, by section 31(3) omitted the words 'received by ..... the assessee is entitled to rebate under section 99(1)(iv) as amended by the finance act, 1964, on the entire gross ..... on a further appeal the tribunal held that the assessee was entitled to the rebate of corporation tax under the finance act, 1964, on the dividend income, that there was nothing in the finance act which permitted the deduction of management or other expenses and in that view granted a rebate on the gross dividend ..... 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 .....

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

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : LC(2007)(3)269

..... (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. ..... 2) act, 2004 w.e.f.1st april, 2005, sub-section (10) as amended by the finance act, 2000 w.e.f. ..... 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. ..... 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. ..... but the use of the words 'it is declared' is not conclusive that the act is declaratory for these words may, at times be used to introduce new rules of law and the act in the latter case will only be amending the law and will not necessarily be retrospective. ..... it is further proposed to insert an explanation in clause (a) of the proposed sub-section (10) so as to provide that the date of approval shall be the date on which the building plan of the said project is first approved by the local authority in case where the approval in respect of the same is obtained more than ..... 1st april, 2001 and finance act, 2003 w.e.f. ..... , 1998 and is completed by 31st march, 2001 are fully deductible. .....

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

Court : Chennai

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

..... by the company as factory, godown, warehouse, 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. ..... , madras' has taken the view 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 wealth tax. ..... submission of the learned counsel for the assessee 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. ..... ' 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 liable to be taxed under wealth tax. .....

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

Court : Chennai

..... 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 ..... 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 ..... 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. ..... declare the circular dated 7.10.2005 issued by the second respondent, the central board of excise and customs as ultra vires section 83 of finance act, 1994 read with sections 37b and 65(19) of the central excise act, 1944 and is in violation of articles 14, 19(1)(g) and 265 of the constitution of india insofar it relates to .....

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 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 buses under the special ..... we have, 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 rules.15. ..... 16067,16603,16605,16912, 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 ..... . we have already pointed out that such is not the requirement any more because of the substitution of the old provisions of section 65 by the new provisions by finance (no .....

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

Court : Chennai

Reported in : [2003]127TAXMAN331(Mad)

..... company as factory, godown, warehouse, 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 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. ..... ' has taken the 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 of wealth-tax. ..... submission of the learned counsel for the assessee 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. ..... : [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 liable to be taxed under wealth-tax. .....

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

..... succeeding previous year, 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 its employees ..... same reads as follows: 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 net wealth ..... the tribunal held that the tenanted portion of the new building was also used in the assessee's business and therefore excluded from the operation of section 40 of the finance act, 1983. ..... learned counsel appearing for the assessee relied on the bombay high court judgment reported in : [2001]248itr629(bom) in the case of commissioner of wealth-tax v. ..... he relied on the bombay high court judgment reported in : [2001]248itr629(bom) in the case of commissioner of wealth-tax v. .....