Judgment Search Results Home > Cases Phrase: finance act 2002 section 10 amendment of section 14a Page 5 of about 141 results (0.068 seconds)

Commissioner of Income-tax, Gujarat-i Vs. Lakhtar Cotton Press Co. (Pv ...

Court : Gujarat

Reported in : [1983]142ITR503(Guj)

..... both the references is identical, namely : 'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was right in law in holding that the assessee is entitled to be treated as an industrial company under section 2(7)(c) of the finance act, 1973 ?' 3. ..... expression 'manufacture or processing of goods' has not been defined by the finance act, 1973, or the finance act, 1974. ..... 2(6)(d) of the finance act, 1968, observed that it was evident from the context in which that word was used, that it was complementary to the term 'manufacture' and, therefore, would not cover ..... 2(8)(c) of the finance act, 1974, is the same ..... 2(8)(c) of the finance act, 1974, and except for this difference, in substance, the question involved in that reference is the same because the definition of industrial company ..... 2(7)(c) of the finance act, 1973, and, therefore, the order of the commissioner directing levy of tax at the rate of 65 ..... of the finance act, 1973 ..... of the finance act, 1973 ..... , therefore, to consider whether the tribunal was right in coming to the conclusion that pressing of loose cotton into bales amounts to processing of cotton within the meaning of the definition of 'industrial company' in the two relevant finance acts. 6. ..... of cotton amounts to processing of goods within the meaning of the definition of the term 'industrial company' and, therefore, the assessee is entitled to the tax concession available to such companies by virtue of the aforesaid two finance acts. .....

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 ratio of 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 exempt from taxation. ..... the said amendment was introduced by finance act of 1992. ..... (madras).vi) : [2002]254itr332(mad) in the case of commissioner of wealth-tax v. .....

South African Property Owners Association Vs. the Council of the City ...

Court : South Africa Supreme Court of Appeal

..... the local community to submit, within a time which, taking into account the relevant circumstances, must be reasonable, representations in connection with the amended budget and accompanying documents and the amended rates proposed (s 22(a) of the finance act) and provide these documents to the national treasury and the relevant provincial treasury (s 22(b) of the finance act); (6) after the submissions have been received the council must consider them and then give the mayor an opportunity to respond to the ..... the indicative revenue per revenue source for the two financial years following the budget year (s 17(1)(a) and (c) of the finance act); (2) the draft resolutions accompanying the budget approving the budget and imposing the municipal tax and setting the municipal tariffs must be amended to reflect the amended rates (s 17(3)(a)(i)and (ii) of the finance act); (3) the measurable performance objectives for revenue from each source and the projection of cash flow for the budget year ..... thereafter the proposed amendments to the budget should have been set out in the tabled budget to comply with the relevant sections of the finance act and the documents as they were to be amended, together with the mayors statement, published in the prescribed manner, and the local community invited to submit, within a time, which in the circumstances was reasonable, representations in connection with the amended rates and the amended budget. .....

Commissioner of Income-tax Vs. P.S.S. Investments (P.) Ltd.

Court : Chennai

Reported in : [1971]79ITR456(Mad)

..... from the indoor management of the company, can that be the sine qua non to decide the question of quantum of rebate to which the company would be entitled under a particular finance act if the year in which distribution is to be effected is considered for purposes of the finance act and for the determination of the quantum of rebate, then it would result in a notional implementation; of the benefit contemplated by the legislature to a company in the nature of a rebate and would not amount to a realistic approach ..... it is, therefore, clear that the paid-up capital of the company daring the assessment year cannot be said, for purposes of paragraph d of part ii of the first schedule to the finance act, 1958, to be the paid-up capital of the year in which the profits arose and from which dividends were distributed during the assessment year. ..... proceeds that whereas under the earlier financeacts, a declaration of a dividend by the company was the base to work outthe quantum of rebate and other reliefs to which a company assessable tosuper-tax would be entitled to under the finance act, 1958, it is thedistribution of dividend that matters for purposes of considering thequantum of rebate to be granted and the principle on which rebates couldbe withheld as well. ..... in addition to the income-tax charged for any year, a company, amongst others, is bound to pay a super-tax at the rate for that year as laid down by the relative finance act (section 55 of the indian income-tax act, 1922). .....

A.H. Wheeler and Co. P. Ltd. Vs. Income-tax Officer, a Ward

Court : Allahabad

Reported in : [1973]88ITR231(All)

..... it appears that in the rectification proceedings before the income-tax officer it was contended that the relevant provisions of the two finance acts were in pari materia with the provisions of clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act, 1951, and that, as that provision had been held invalid by the bombay high court in khatau makhanji spinning and ..... this is a case where the income-tax officer omitted to apply the relevant provisions of the finance acts of 1958 and 1959, and we are satisfied that the omission constitutes a mistake apparent from ..... it is said, a debatable question whether the finance act, 1958, and the finance act, 1959, warranted 'the reduction of super-tax rebate ..... on july 17, 1962, the income-tax officer made two separate orders under section 35 of the act for the two assessment years purporting to rectify the mistake apparent from the ..... the first contention is that in regard to the case of the assessment year 1959-60, the order under section 35 of the act was made after the assessment order had been modified in appeal and it was not open to the income-tax officer to rectify an assessment order after it had been ..... other contention is that the income-tax officer acted outside the scope of section 35 of the act inasmuch as there was no mistake apparent from ..... the income-tax officer issued a notice under section 35 of the act for each assessment year pointing out that there was an error apparent on the record which .....

Indian Hotels and Restaurant Association Represented by Its Treasurer ...

Court : Mumbai

..... it is stated that in exercise of the powers conferred under section 93(1) of the finance act 1994, the government of india, amended with effect from 1.5.2011 the notification number 1/2006 service tax dated 1.3.2006, exempting the taxable services of the description specified in column 3 of the table in the notification from so much of the service tax leviable thereon under section 66 of the finance act 1994, as is in excess of the service tax calculated on a value which is equivalent to the percentage specified ..... so, the central government by the finance act, 2011 made an amendment to chapter v of the finance act 1994, relating to service tax, inserting sub-clause (zzzzv) to clause 105 of section 65, thereby, including one more category ..... be made exigible to service tax by way of amendments to section 65 of the finance act. ..... in the present case, service tax levied on services rendered by mandap-keeper as defined in the said act under sections 65, 66 and 67 of the finance act has been challenged by the appellants on the following two grounds: a) that it amounts to the tax on land and, therefore, by reason of entry 49 of list 2 of the seventh schedule of the constitution, only ..... and providing facilities during the course of letting out mandapam to their clients, challenged the constitutional validity of sections 66, 67(o) of the finance act, 1994 and rule 2(1)(d)(ix) of the service tax rules, 1994 and other provisions related to kalyana mandapams ..... (5) (2002) 127 stc 475 cosmopolitan .....

The Commissioner of Income Tax-v Vs. Natraj Stationery Products (P) Lt ...

Court : Delhi

Reported in : (2009)222CTR(Del)430; [2009]312ITR22(Delhi); [2009]177TAXMAN168(Delhi)

..... the fact that the section was amended by the finance act, 1992 with effect from 01.04.1993, thereafter by the finance act, 1993 with effect from 01.04.1994, then the finance act, 1994 with retrospective effect from 01.04.1994 and with effect from 01.04.1995, then by finance act, 1995 with effect from 01.04.1996, then by finance act (no. ..... the central government may, by notification in the official gazette, specify with reference to any particular industrial undertaking.the followi1ng clause (iv)(a) was substituted for the existing clause (iv) by the finance act, 1993 with effect from 01.04.1994:(iv)(a) in the case of an industrial undertaking not specified in sub clause (b), it begins to manufacture or produce articles or things or to operate such ..... that the stand of the respondent/assessee that it had claimed a deduction under section 80-ia of the act on account of a typographical error could not be accepted on the ground that it had consistently in the documents filed with the revenue; which included, a letter dated 07.10.2002, acknowledgment sheet of the return of income for the assessment year 2001-02; computation ..... deduction under section 80-ia of the act, that the, respondent/ assessee vide a response dated 19.12.2002 informed the assessing officer that it had wrongly claimed deduction under section 80-ia, even though, it was entitled to deduction under section 80-ib. ..... 2002 disallowed the claim of the assessee for deduction both under section 80-ia and section 80-ib of the act .....

CochIn Company Vs. Commissioner of Income-tax

Court : Kerala

Reported in : [1978]114ITR822(Ker)

..... the assessee had put forward a plea before the income-tax officer that it was entitled to a rebate of tax under section 2(5)(a)(i) of the finance act, 1966, since its total income included profits and gains derived from the export of goods out of india. ..... another contention raised by the assessee before the income-tax officer was that during the relevant accounting period the assessee satisfied the definition of an 'industrial company' as contained in section 2(7)(d) of the finance act, 1966, and that, therefore, the tax had to be levied only at the rate of 55 per cent. ..... on the other two points relating to the claims put forward by the assessee for rebate of tax under section 2(5)(a)(i) of the finance act, 1966, and for computation of the tax at the rate of 55 per cent. ..... /coch/70-71, which was the appeal filed by the assessee-company, the findings of the appellate assistant commissioner disallowing the assessee's claim for rebate of tax under section 2(5)(a)(i) of the finance act, 1966, and for the application of the concessional rate of tax under item i(a)(2) of paragraph f of schedule i of the finance act, 1966, were questioned by the assessee. ..... on the question relating to the assessee's claim for rebate of taxunder section 2(5)(a)(i) of the finance act, 1966, the tribunal agreed withthe view taken by the appellate assistant commissioner and the income-tax officer that the profits obtained by the assessee by sale of importentitlements cannot be regarded as profits or gains derived .....

Commissioner of C. Ex. Vs. Eid Parry Confectionery Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

Reported in : (2005)(179)ELT447Tri(Chennai)

..... in order to get over the supreme court's ruling, parliament amended section 65 ibid in relation to the limited period 16-7-1997 to 16-10-1998 under section 116 of the finance act, 2000, whereby recipients of 'goods transport' service and 'clearing and forwarding' service were ..... by the amendments made to section 65 by parliament under section 116 of the finance act, 2000 and consequently they are hit by the apex court's ruling in laghu udyog bharati (supra).furthermore, undisputedly, the demands raised by the department, in these cases, are far beyond the period of limitation prescribed under section 73 of the finance act, 1994.7. ..... on, the finance act, 2003, made certain amendments to the service tax provisions of the finance act, 1994, whereby the aforesaid assessees were required to present tax returns to the proper officer within six months from 14-5-2003 (date on which the finance act, 2003 received ..... or anything done or purported to have been (i) taken or done at any time during the period commencing on and from the 16th day of july, 1997 and ending with the day, the finance act, 2000 receives the assent of the president shall be deemed to be valid and always to have been valid for all purposes, as validly and effectively taken or done" vide ..... this demand was raised in a show cause notice on 13-5-2002 and the same was confirmed by the original authority and sustained by ..... the demands of service tax were raised beyond 12-5-2000 in show cause notices dated 13-5-2002 and 14-2-2003. .....

Commissioner of C. Ex. Vs. Bhuwalka Steel Industries Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

Reported in : (2005)(185)ELT153Tri(Chennai)

..... in order to get over the supreme court's ruling, parliament amended section 65 ibid in relation to the limited period 16-7-1997 to 16-10-1998 under section 116 of the finance act, 2000, whereby recipients of 'goods transport' service and 'clearing and ..... such demands are not affected by the amendments made to section 65 by parliament under section 116 of the finance act, 2000 and consequently they are hit by the apex court ..... appeal and submits that, on account of retrospective revalidation of rule 2(1)(d)(xii) of the service tax rules, 1994 under section 117 of the finance act, 2000, the tax on the service availed by the respondents during the period of dispute was recoverable from them. ..... the finance act, 2003, made certain amendments to the service tax provisions of the finance act, 1994, whereby the aforesaid assessees were required to present tax return to the proper officer within six months from 14-5-2003 (date on which the finance act, ..... or purported to have been (i) taken or done at any time during the period commencing on and from the 16th day of july, 1997 and ending with the day, the finance act, 2000 receives the assent of the president shall be deemed to be valid and always to have been valid for all purposes, as validly and effectively taken or done" vide ..... service tax were raised beyond 12-5-2000 in show cause notices dated 13-5-2002 and 14-2-2003. ..... rendered by the consignment agent to the respondents was raised on the latter by the department in a scn dated 28-8-2002. .....