Court : Rajasthan
Reported in : (1984)41CTR(Raj)21; [1984]149ITR487(Raj)
..... even without the proviso, the rate prescribed by the finance act of the previous year would have been applicable to the dividend income by virtue of the provisions of section 2(3)(a) of the relevant finance act; but the very same provisions have been added to para, 6a, in the form of a proviso and the same would make no difference to the interpretation of the main ..... answer to the first question referred to this court is that the assesses is entitled to the benefit of concision or rebate under para, 6a of the part b states (taxation concessions) order, 1950, in the course of reassessments under section 34 of the indian income-tax act, 1922, in respect of the whole of the dividend income, including the actual dividend income received by him, irrespective of the fact that the question of allowing such concession or rebate in the ..... the obvious object of the concession provided by the taxation laws (extension to merged states and amendment) act of 1949 and by the part b states (taxation concessions) order, 1950, was to provide rebate to the assesses of the former indian states, in order to avoid hardship and anomalies and to remove difficulties that may arise on account of the ..... considered proper to grant some relief to the residents of the former indian states for a period of five years and concessional rates, of tax were prescribed for five years beginning from april 1, 1950, so as to gradually bring the rate of tax chargeable in those territories at par with the indian rates of tax. .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)176CTR(Raj)177
..... the provisions relating to service-tax as originally enacted were amended to some extent by the finance act, 1996, and some more services namely, radio, pager services, advertising services and courier services were covered. ..... (3) with effect from the date notified under section 88 of the finance act, 1997 (26 of 1997), there shall be levied a service-tax at the rate of five per cent of the value of the taxable services referred to in sub-clause. ..... further, in exercise of the powers conferred by section 93 of the finance act, 1994, the central government has exempted in the public interest the taxable services other than of auditing and accounting provided by a practising chartered accountant in his professional capacity to a client from the whole of service-tax ..... sections 68 to 71 as originally enacted by the finance act, 1994, have also been substituted by the finance (no. ..... (5) 'architect' means any person whose name is, for the time being, entered in the register of architects maintained under section 23 of the architects act, 1972 (20 of 1972) and also includes any commercial concern engaged in any manner whether directly or indirectly, in rendering services in the field of architecture;................ ..... union of india (1999) 11 dtc 197 (sc) : (1999) 105 taxman 630 (sc) pointed out that section 66 which is the charging section has to be read with section 65(d)(41) (now section 65(48)) that the charge of the tax is on the person, who is responsible for collecting the service-tax. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1970Raj70; [1969]74ITR378(Raj); 1969()WLN83
..... in our opinion, the term 'income-tax' has been used in sub-section (3) (a) of the finance act, 1957 in that limited sense in which it has been used in sub-section (1), and while computing the amount of income-tax on dividend income under clause (a) of subsection (3) of section 2 of the finance act of 1957 by applying the rate or rates applicable under the operation of the finance act, 1956 it is the amount of income-tax simpliciter which is determined and which does not include the amount either of surcharge ..... assessment year 1957-58 and referred the following question to this court under section 66 (1) of the act: 'whether on the facts and in the circumstances of the case surcharge was a separate item of taxation different from income-tax and therefore the special surcharge imposed as per finance act, 1957 was leviable on income from dividends in spite of the provisions contained in clause (a), sub-section (3) of section 2 of this finance act to the effect that income-tax on income from dividends would be charged ..... an objection was taken by the assessee before the income-tax appellate tribunal, delhi bench 'b' that the special surcharge on unearned income at the rate of 15 per cent as provided by the finance act of 1957 could not be imposed on the dividend income of the assessee for that year because of the provisions of section 2 (3) (a) of the finance act, 1957, which provides that the income-tax on dividend income could be calculated as per the rates under operation of the .....
Tag this Judgment!Court : Rajasthan
Reported in : (1995)128CTR(Raj)325; [1996]217ITR799(Raj)
..... the submission of learned counsel for the revenue is that the amendment in section 43b was made by the finance act, 1988, and was effective from april 1, 1989. ..... the second proviso added by the finance act, 1987, and amended by the finance act, 1989, is explanatory in nature and, therefore, retrospective in operation.22. ..... the object of insertion of the proviso by the finance act, 1987, was stated in the memorandum of the finance act that the object behind the proviso to section 43b is to provide for a tax disincentive for deduction in respect of statutory liability which is not paid in time. ..... in order to overcome this problem amendment was made by the finance act, 1988, by which the words 'cess or fee, by whatever name called' were inserted in clause (a) with effect from april 1, 1989. ..... by the amendment by the finance act, 1989, in the second proviso the words 'during the previous year' have been deleted, as a result of which the deduction on account of contribution made to the provident fund, etc. ..... 9 of 1992, the following question of law has been referred by the income-tax appellate tribunal in respect of the assessment year 1987-88 under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was legally justified in granting the benefits of amendment to section 43b which was applicable with effect from the assessment year 1988-89 to the assessee in an appeal for an earlier year, thereby .....
Tag this Judgment!Court : Rajasthan
Reported in : [2003]264ITR529(Raj); 2006[3]STR344; 2002WLC(Raj)UC708
..... (3) with effect from the date notified under section 88 of the finance act, 1997 (26 of 1997), there shall be levied a service tax at the rate of five per cent of the value of the taxable services referred to in sub-clauses (g), (h), (i), (j), (k), (1), (m), (n) and (o) of clause (48) of section 65 and collected in such manner as may be prescribed. 67. ..... further, in exercise of the powers conferred by section 93 of the finance act, 1994, the central government has exempted in the public interest the taxable services other than of auditing and accounting provided by a practising chartered accountant in his professional capacity to a client from the whole of service tax ..... by this judgment three writ petitions filed under article 226 of the constitution of india challenging the constitutional validity of the provisions of the finance act by which service offered by the chartered accountants, real estate agents (property dealers) and the architects have been brought under the tax net, which is to be charged at 5 per cent ..... sections 68 to 71 as originally enacted by the finance act, 1994, have also been substituted by the finance (no ..... section 66 of the act of 1994 as amended by the act of1997, which is a charging section provides for the charge of service tax at the rate of 5 per cent ..... after examining the finance act under challenge the apex court with regard to the service tax observed as follows [1999] 115 stc 623 : 'the service tax is levied by reason of the services which are offered .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2007(4)Raj2995
..... learned counsel for the petitioner contends that section 93 of the finance act makes it abundantly clear that with the commencement of the finance act, 1994, particularly the provisions relating to levy of education cess and exemption attached with the excise duty payable under the central excise act automatically became available to education cess as part of duties on excise and no separate notification was in fact required. ..... provisions of the central excise act, 1944 (1 of 1944) or under any other law ..... schedule to the central excise tariff act, 1985 (5 of 1986), being goods manufactured or produced, shall be a duty of excise (in this section referred to as the education cess on excisable goods), at the rate of two per cent, calculated on the aggregate of all duties of excise (including special duty of excise or any other duty of excise but excluding education cess on excisable goods) which are levied and collected by the central government in the ministry of finance (department of revenue), under the .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]163ITR278(Raj)
..... be regarded as preference shares so as to entitle the assessee to rebate under the provisions of the finance act, 1964, and the finance act, 1965, involves the interpretation of the provisions of the financial corporations act, in the light of the provisions contained in section 85 of the companies act, 1956. ..... income-tax officer initiated proceedings under section 154 of the act for the rectification of the assessment orders and passed orders dated december 14, 1966, whereby the income-tax officer held that the assessee was liable to tax at the rate of 7.5% on the dividend declared by it in both the assessment years in view of the provisions contained in the finance act, 1964, and the finance act, 1965. ..... finance act, 1964, and the finance act, 1965, provide for rebate to a company and the term 'company' is defined in section 2(17) of the income-tax act ..... of the expressions 'company' and 'indian company' show that the provisions in the finance act, 1964, and the finance act, 1965, relating to rebates were mainly in relation to companies formed and registered under the companies act, 1956, and companies formed and registered under any law relating to companies formerly in ..... arises for consideration in this case, namely, whether the dividend paid on the shares of the bihar state financial corporation established under the financial corporations act, was entitled to rebate under the finance act, 1964, and the finance act, 1965, on the ground that the said shares were preference shares. .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)194CTR(Raj)84
..... 1 firstly by inserting it retrospectively vide finance act, 1996 providing for exclusion of period only in two events and then again amending it by substituting expln. ..... 1st april, 1989.the high court had accepted the contention of the revenue and dismissed the petition by finding that the revenue was entitled to seek the benefit under the amended proviso under section 150.reversing the decision of the high court, the apex court said :'a fiscal statute, more particularly one regulating the period of limitation, must receive a strict construction. ..... when the chapter x1v-b consisting of sections 158b to 158bh was enacted and inserted in it act, 1961, by the finance act, 1995, w.e.f. ..... -where, by an order any income is excluded from the total income of one person and held to be the income of another person, then, an assessment of such income on such other person shall, for the purposes of section 150 and this section, be deemed to be one made in consequence of or to give effect to any finding or direction contained in the said order, provided such other person was given an opportunity of being heard before the said order was passed.'22. .....
Tag this Judgment!Court : Rajasthan
Reported in : 2008(229)ELT50(Raj)
..... writ petitions, that probably in view of the judgments rendered by the learned tribunals in different cases, that the finance act, 2000 was enacted, incorporating section 112, to validate the denial of credit, but then, the constitutional validity of that section was challenged before this court by making appropriate amendment, with appropriate leave of the court, and thus the matter did remain pending before this court, obviously therefore, ..... in our view, in view of the above discussion, the question as framed is required to be answered in the manner, that the learned tribunal was not right in coming to the conclusion, that under section 112(2)(b) of the finance act, interest can be levied, even where there is no adjudication of the show cause notices, which were pending decision, at the time of commencement of the aforesaid provisions, rather liability of interest can be ..... the credit of duty, which have been taken or utilised but which would not have been allowed to be taken or utilised, if the provisions of sub-section (1) had been in force at all material times, within a period of thirty days from the date on which the finance act, 2000 receives the assent of the president and in the event of non-payment of such credit of duty within this period, in addition to the amount ..... was allowed, vide judgment dated 8.11.2004, reported in : 2005(180)elt3(sc) , wherein it was found, that inadvertently attention of the court was not drawn to provisions of section 112 of finance act, 2000. .....
Tag this Judgment!Court : Rajasthan
Reported in : 1995(2)WLN208
..... the learned counsel for the revenue is that the amendment in section 43b was made by the finance act, 1988 and was effective from 1.4.1988. ..... the object of insertion of the proviso by the finance act, 1987 was stated in the memorandum of finance act that the object behind the proviso to section 43b is to provide for a tax dis-incentive for deduction in respect of statutory liability which is not ..... in order to over-come this problem amendment was made by the finance act, 1988 by which the word 'cess or fee by whatever name called' were inserted in clause ..... 1987 and amended by finance act, 1989 is explanatory in nature and therefore ..... by the amendment by finance act, 1989, in the second proviso the words' during the previous year' have been deleted as a result of which the deduction on account of contribution made ..... referred to in section 2-b of the previous year (being a previous year relevant to the assessment year commencing on the of april, 1983,or any earlier assessment year) in which the liability to pay such sum was incurred by the assessee, the assessee shall not be entitled to any deduction under this section in respect of such sum in computing the of the previous year in which the sum is actually paid by himsection 43b.was inserted by finance act, 1983 and is ..... the finance act, 1987 inserted the proviso to section 43b provides that any sum payable by way of tax liability can be deducted only if it was paid within the due date in respect of the assessment year to which the .....
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