Judgment Search Results Home > Cases Phrase: finance act 2005 schedule 12 twelfth schedule Page 3 of about 9,227 results (0.110 seconds)

God Granites Vs. Central Board of Direct Taxes and ors.

Court : Karnataka

Reported in : [1996]218ITR298(KAR); [1996]218ITR298(Karn); [1996]85TAXMAN536(Kar)

..... 80hhc was not available in respect of profit from the export of unpolished granite.6.4 let me now examine whether the word rocks in item (x) of twelfth schedule refers to only cut and polished rocks and whether it is possible to reasonably interpret the word rocks as referring to rocks which are not cut and polished as ..... material so exported is rock falling under item (x) of the twelfth schedule to the act and thus the benefit of deduction under s. ..... extends its benefit not to all minerals, but only to 'processed minerals specified in the twelfth schedule' and the word 'processed' with reference to rocks/granite, means 'cut and polished' ..... the explanation makes it clear that for the purposes of the twelfth schedule, 'processed' in relation to any mineral or ore means the ..... rock and granite are treated as part of minerals is evident from twelfth schedule as both rocks and granite are listed in the items enumerated ..... , an exception to the exclusion clause was introduced, by providing that specified minerals and ores which were processed, listed in the twelfth schedule, will be exceptions to the total exclusion of minerals and ores from s. ..... process;(h) other upgrading techniques such as removal of impurities through chemical treatment, refining by gravity separation, bleaching, floatation or filtration.3.2 the words '(other than processed minerals and ores specified in the twelfth schedule)' after the words 'minerals and ores' in sub-s. 2(b)(ii) of s. ..... by finance (no. ..... finance ..... by finance (no .....

Aravali Minerals and Chemicals Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Jodhpur

Reported in : (2007)292ITR361(Jodh.)

..... cit (2006) 102 ttj (chennai)(sb) 1 : (2006) 100 itd 199 (chennai)(sb) in which it has been held that the amendment brought out by the finance act, 2003, enabling the assessee to deduction even if the payment is made before the due date of furnishing return under section 139(1) is retrospective and hence applicable to the earlier years ..... it was stated that the twin requirements for the eligibility for deduction under this section, as per the twelfth schedule are cutting and polishing of the marble blocks and since the assessee had only got the process of cutting, therefore the deduction could not ..... confined to granite alone and the satisfaction of the dual conditions of "cut and polished" in the twelfth schedule still hold good for other rocks including marbles as provided in earlier circular. ..... an exception has been carved out by providing that the specified minerals and ores, which are processed, listed in the twelfth schedule, will be exception to the total exclusion of minerals and ores from section 80hhc. ..... it was in 1991 that the processed minerals and ores specified in twelfth schedule were made eligible for deduction under this section after the diamonds were so qualified in 1984 which, in turn, contains clause (x) as cut and polished minerals and rocks including cut and ..... act, 1991, extended the benefit to export of processed minerals and ores mentioned in the twelfth schedule to the it act ..... portion of clause (ii) has been inserted by the finance (no.2) act, 1991, w.e.f. ..... finance .....

Bondu Ramaswamy Vs. Bangalore Development Authority and ors.

Court : Supreme Court of India

..... the other hand, the development plan for the metropolitan area as a whole, to be prepared by metropolitan planning committee constituted under the kmc act involves making a plan for overall development with reference to the various functions enumerated in the twelfth schedule, that is, plans for economic and social justice, planning for economic and social development, slum improvement and upgradation, urban poverty alleviation, and ..... for economic development and social justice;(ii) the performance of functions and the implementation of schemes as may be entrusted to them including those in relation to the matters listed in the twelfth schedule;(b) the committees with such powers and authority as may be necessary to enable them to carry out the responsibilities conferred upon them including those in relation to the matters listed in the ..... for the proposed project out of its source its self hence the necessity of getting ratification of the finance department for this proposal does not arise. ..... dated 15.4.2005 allowed the writ petitions and quashed the entire acquisition holding as follows:(i) bda had no jurisdiction or authority to take up any development scheme in bangalore metropolitan area having regard to parts ix and ixa of the constitution read with section 503b of the karnataka municipal corporation act, 1976. ..... by a division bench of the high court, by a common judgment dated 25.11.2005 and upheld the acquisition. ..... 1353-54 of 2005 filed by university of agricultural science .....

Jindal Strips Limited and anr. Vs. State of Haryana and ors.

Court : Punjab and Haryana

Reported in : (2008)12VST149(P& H)

..... the stand of the state that the revenue earned is being made over to the local bodies to compensate them for the loss caused, makes the impost compensatory in nature, as augmentation of their finance would enable them to provide municipal services more efficiently, which would help or ease free-flow of trade and commerce because of which the impost has to be regarded as compensatory in nature, in view of what has been stated in ..... some of the services envisaged under the eleventh and twelfth schedules and the relevant provisions of the municipal act and the panchayati raj act may appear to be meant for general public but those concerning the roads, bridges, streets, markets, water supply, sanitation are certainly meant to facilitate the free-flow of trade and the petitioners, who bring ..... dud/ta/2006/50172, dated september 4, 2006) received from director urban development, haryana, chandigarh, shows receipt of ladt funds by urban development department during 2005-06 and 2006-07 and their utilisation for the improvement of civic amenities in urban areas to facilitate free-flow of trade and commerce in haryana. ..... 910.75 crores collected under the ladt act during the financial years 2000-01, 2001-02, 2002-03, 2003-04, 2004-05 has been allocated to (a) panchayati raj institution and (b) urban local bodies in accordance with the directions dated december 28, 2005 of the high powered committee headed by chief secretary, haryana. .....

Gujarat Municipal Finance Board Vs. Deputy Commissioner of Income Tax

Court : Gujarat

Reported in : [1996]221ITR317(Guj)

..... incurred by a local authority in such financial year in carrying out the obligatory and discretionary duties or functions imposed on it under the provisions of the bombay provincial municipal corporations act, 1949 or, as the case may be, of the gujarat municipalities act, 1963, and, (ii) having regard to such assessment, to tender advice to the local authorities as to the ways and means to be adopted by them for increasing the ..... for improvement of cities and towns one has to see that the twelfth schedule of the constitution and the board has to disburse the amount of ..... may after considering recommendations of the gujarat municipal finance board, determine whether for augmenting the finances of the corporation or any of the purposes of this act it is necessary to make any grant to ..... him that even reading the entire boards act, functions of the board are very limited and is that of disbursing the amount of grant and loans, assessment of income of local bodies and giving advice to the local bodies or to the government regarding sound municipal finance, and, therefore, the board cannot ..... finance board (hereinafter referred to as the board) constituted under the provisions contained in the gujarat municipal finance board act, 1979 (hereinafter referred to as 'the boards act ..... the boards act is an act to make provision for better management of municipal corporations and municipalities in the state of their finance resources and for regulation of giving ..... act provides for contract, finance .....

B. Arunkumar and Co. Vs. Addl. Cit, Range-16(3)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)110ITD131(Mum.)

..... (b) of sub-section (2) of section 80hhc excludes "(i) mineral oil; and (ii) minerals and ores (other than processed minerals and ores specified in the twelfth schedule)" from the purview of section 80hhc(1) in that the benefit of section 80hhc is not available in respect of the profits derived from their export. ..... therefore, the meaning assigned to the term "processed" in the explanation to the twelfth schedule cannot be extended to qualify the minerals and ores in general over and above those listed in items (ii), (iii), (vii) and ( ..... secondly, the meaning given to the term "processed" in the explanation to the twelfth schedule has to be read in the context of the word "processed" used to qualify certain specific minerals identified in item ..... 693 dated 19.11.1994 and the items of twelfth schedule i have come to the conclusion that appellant's case fall under the item 10 of the twelfth schedule which is specific about cut and polished minerals and rocks including cut and polished ..... further processing is envisaged to any specific mineral, it is clearly indicated which is evident from the fact that certain items in the twelfth schedule are expressly preceded by the word "processed" as in item nos. ..... 2) act 1991, which has amended sub-clause (ii) of clause (b) of sub-section (2) of section 80hhc so as to exclude "processed minerals and ores specified in the twelfth schedule" from the purview of minerals and ..... already stated earlier in this order, it is the finance (no. ..... dcit (2005) 3 sot 539: .....

Mathura Dass and ors. Vs. State of Punjab and ors.

Court : Punjab and Haryana

Reported in : AIR2003P& H59

..... therein, with respect to- (i) the preparation of plans for economic development and social justice; (ii) the performance of functions and the implementation of schemes as may be entrusted to them including those in relation to the matters listed in the twelfth schedule; (b) the committees with such powers and authority as may be necessary to enable them to carry out the responsibilities conferred upon them including those in relation to the matters listed in the ..... from state legislatures grant-in-aid to the nagarpalikas from the consolidated fund of the state as also assignment to, or appropriation by, the nagarpalikas of the revenues of designated taxes, duties, tolls and fees; (k) provide for a finance commission to review the finances of the nagarpalikas and recommended, principles on the basis of which state legislatures may determine the taxes to be appropriated by, or assigned to, the nagarpalikas, as also grant-in-aid to the nagarpalikas from the consolidated fund of ..... comprising articles 243p to 243zg was inserted by the constitution (74th amendment) act, 1992, it came into force with effect from 1st june, 1993. ..... situation, the court has the choice of upholding the impugned acts and issuing a mandamus to the state to pay. ..... was conferred with the object of ensuring that the legislative and administrative acts remain within the confines of the constitution. ..... question that arises for consideration is - do the impugned act conform to the mandate of the constitution of india? 24 .....

M/s. Ghodawat Energy Pvt. Ltd. Vs. The State of Maharashtra, Through t ...

Court : Mumbai

..... the finance act, 2005 (18 of 2005) substituted the first schedule to the ade act with a new first schedule that did not specifically refer to pan masala containing tobacco anywhere in column (3). ..... section 116 of the finance act, 2005, replaced the schedule to the ade act with a new schedule that does not describe pan masala in the column. ..... (o) without prejudice to the foregoing and assuming whilst denying that additional duties of excise were being levied on pan masala under the ade act even after the finance act, 2005, all tobacco products covered by the ade act were exempt from payment of additional duty of excise pursuant to notification no.11/2006-ce dated 1st march, 2006. ..... moreover, from 1st april, 2005, pan masala was subject to additional duty of excise under section 85 of the finance act, 2005, as set out above. ..... accordingly, pursuant to the finance act, 2005, additional duty of excise paid on p;an masala is by way of a surcharge under section 85. ..... thereafter, he relies on the recommendations in the report of the twelfth finance commission for the period 2005-2010. mr. ..... that is issued by the president after having considered the recommendations of the twelfth finance commission. ..... the 1980 amendment act to the constitution, the report of the eleventh finance commission, twelfth finance commission for the period 2005-2010 and the further finance commissions. .....

Jai Mica Supply Co. Pvt. Ltd. Vs. Commissioner of Income Tax, West Ben ...

Court : Kolkata

..... export out of india shall not include any transaction by way of sale or otherwise, in a shop, emporium or any other establishment situate in india, not involving clearance at any customs station as defined in the customs act, 1962 (52 of 1962); (b) export turnover means the sale proceeds, received in, or brought into, india by the assessee in convertible foreign exchange in accordance with clause (a) of sub-section (2) of any goods or ..... within the purview of goods and merchandise which are minerals and ores, the same should not get the benefit of section 80hhc of the act whereas from very next assessment year, if the exported goods and merchandise are found to be of the nature of the processed minerals as indicated in twelfth schedule of the amended act, those should get the benefit of deduction. 12. ..... was of the view that by virtue of amendment made by finance act, 1991, the appellants products were not covered by section 80hhc ..... the goods or merchandise beyond the customs station as defined in the customs act, 1962 (52 of 1962); provided that in relation to any assessment year commencing on or afte4r the 1st day of april, 1991, the expression total turnover shall have efffect as if it also excluded any sum referred to in clauses (iiia), (iiib) and (iiic) of section 28; the following clause (baa) shall be inserted by the finance (no.2) act, 1991, w.e.f. ..... (3) by the finance (n0.2) act, 1991, w.e.f. ..... following explanations shall be inserted by the finance (no.2) act, 1991 w.e.f. .....

Indian Furniture Works Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2001)71TTJ(Bang.)709

..... " consequently, the twelfth schedule was also amended by the finance (no.2) act, 1991, with effect from 1st april, 1991 and this schedule which is entitled "processed minerals and ores" contains a list of ten items, the last two of which reads as under : "(x) cut and polished minerals and rocks including cut and polished granite".hence ..... to section 80hhc(2)(b) by the finance (no, 2) act, 1991, with effect from 1-4-1991, as a result of which the section was revised as under : (ii) minerals and ores other than processed minerals and ores specified in the twelfth schedule. ..... before us in the present case, has produced a copy of the order of the honble karnataka high court dated 6-1-2000 in which question regarding the applicability of the circulars even prior to the amendment by the finance act, 1991 was brought to the attention of the court and the honble court deemed it fit that this should be examined by a larger bench and, therefore, there lordships considered it necessary to place the matter ..... act, 1991, extended the benefit to export of processed minerals and ores mentioned in the twelfth schedule to the income tax act ..... the entry in the twelfth schedule is very clear and unambiguious and uses ..... 80hhc for export of processed minerals-clarification regarding export of cut and polished dimensional blocks, granite or other rocks.section 80hhc of the income tax act allows a deduction from the gross total income of the entire profits derived from export of goods other than minerals. .....