Judgment Search Results Home > Cases Phrase: finance act 2005 section 18 amendment of section 54ed Court: chennai Page 1 of about 209 results (0.065 seconds)

Ms. Shanti Logistics (P) Limited Vs. the Assistant Commissioner of Inc ...

Court : Chennai

..... the claim of the assessee for the assessment year 2007-08, the commissioner of income tax (appeals) referred to the contention taken by the assessee as regards the amendment brought forth with effect from 1.4.2005 under the finance act, 2008, mitigating the rigour of section 40(a)(ia) and the circular dated 27.3.2009 that the amendment would apply on and from the assessment year 2005-06. ..... it stood during the relevant year has to be seen.finance act, 2008 amending section 40(a)(ia) with effect from 1.4.2005section 40(a)(ia)amounts not deductible.40. ..... referring to the circular of the board dated 27.3.2009, particularly with reference to the amendment brought under the finance act, 2008 with retrospective effect from 1.4.2005, the commissioner of income tax (appeals) held that since tax deducted at source had been paid well before the due date for filing the return of income, the assessee was entitled ..... as against the substantive portion of the order, the revenue went on appeal contending that the amendment brought under the finance act, 2010 are being retrospective one, as such, the question of granting relief, particularly, for the tds liability pertaining to the period april 2006 and february 2007, did ..... apart from that, when the amendment of finance act, 2010 is not given retrospective effect, the question of extending the benefit of the circular relating to the year 2008 ..... explaining the amendment under the finance act 2008, the central board of direct taxes issued the circular .....

Cce, Madurai Vs. M/S. Sundaram Fasteners Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... the learned ar submits that by section 82 of the finance act, 2005, there is retrospective amendment for rule 57cc insofar as if the manufacturer fails to pay the amount, it shall be recovered along with interest in the same manner, as provided in rule 57i of the central excise rules, 1944, for recovery of credit wrongly ..... in my considered view, the matter is required to be examined by the adjudicating authority afresh as per the amendment of the rules. ..... thereafter, there is an amendment of the rules. ..... the commissioner (appeals) set aside the adjudication order and allowed the appeals filed by the respondent on the ground that there is no machinery provision in the act or rules for its recovery. .....

Commissioner of Income Tax Vs. Kuruvilla Abraham

Court : Chennai

..... on the other hand, the present case involving the assessment year 2005-2006 deals with section 2(14) of the income tax act, 1961, which was amended under the finance act 2007, as discussed supra. ..... per contra, the learned counsel appearing for the assessee submitted that the paintings are only the personal effects and when the relevant assessment year is 2005-2006, the amendment brought in by the finance act 2007 with effect from 1.4.2008 excluding the paintings from the personal effects cannot be applied retrospectively. ..... (ii) the paintings were excluded from the purview of personal effects and consequently included as one of the capital asset under section 2(14) only in pursuant to the amendment made under the finance act 2007 that too with effect from 1.4.2008. ..... an amendment was brought in to the above section 2(14) under the finance act 2007 with effect from 1.4.2008. ..... the tribunal also found that the paintings can be considered as capital asset only with effect from 1.4.2008 by virtue of the finance act 2007 and the relevant assessment year being 2005-2006, the paintings were not excluded under the definition of section 2(14) as the personal effects . ..... he also submitted that even though the amendment was brought in by the finance act 2007 to include the paintings also within the definition of capital asset, still it does not imply that the paintings were expressively included under the definition of "personal effects" for the earlier periods. .....

Deputy Commissioner of Income Tax Vs. Indian Syntans Investments (P)

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)103ITD457(Chennai)

..... during the period commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and (b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time-limit for making the assessment, reassessment ..... , 2005 in response to a notice served under this section and subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143 as it stood immediately before the amendment of said sub-section by the finance act, 2002, but before the expiry of the time-limit for making the assessment, reassessment or recomputation as specified in sub-section (2) of section 153, such notice shall be deemed to be a valid notice. .....

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

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : LC(2007)(3)269

..... 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. ..... (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. ..... 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. ..... 1st april, 2005 by the finance (no.2) act, 2004. ..... 2005-06 as amended by the finance (no. ..... 1st april, 2005, an amendment has been brought out by the finance (no. ..... 2) act, 2004 which reads as under: extension of the time-limit for obtaining approval of housing projects for the purpose of tax holiday under section 80-ib, and allowing deduction for redevelopment or reconstruction of existing buildings under the existing provisions contained in sub-section (10) of section 80-ib, a deduction equal to one hundred per cent of the profits of an undertaking developing and building housing projects is allowed if the housing project is approved by a local authority before 31st march, 2005. .....

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

Court : Chennai

..... exemption in respect of 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 effect to the provisions or explains the changes proposed in the finance act,2005.18 ..... the writ petition is for declaration to 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 the petitioner.2. ..... therefore, according to the respondents, the maintenance branch of information technology was brought into the purview of service tax structure by the amendment made to section 65(19) by explanation (b) in finance act, 2004. ..... state of andhra pradesh [(2004) 178 elt 22 (sc) = (2005) 1 scc 308] and observed that software being goods, any service in relation to maintenance or repairing or servicing of software is liable for service tax under section 65(105)(zzg) read with section 65(19) of the finance act, 1994 and hence, the circular is in supercession of earlier circulars.5. .....

A. Venkatramani Vs. Lic Housing Finance Limited, Rep. by Its Authorise ...

Court : Chennai

Reported in : [2007]135CompCas514(Mad); [2007]78SCL222(Mad)

..... regarding the allegation of the petitioners, that before initiating the proceedings under the sarfaesi act, the bank has to withdraw the civil suit, this respondent would submit that this respondent is not a notified financial institution under act 51 of 1993 and therefore, the amendment introduced to section 19(1) of the act 51 of 1993 does not preclude the institution of any civil action, the pendency of the civil suit does not amount to parallel proceedings.15. ..... filed counter affidavits, in w.p.nos.34022, 35859 and 40817 of 2005, denying the allegations of the writ petitioners and further submitting that this respondent is a housing finance company,; that by a notification dated 10.11.2003, issued by the department of economic affairs, ministry of finance, this respondent is notified as a 'financial institution' within the meaning of sarfaesi act and therefore, they are entitled to invoke the provisions of the said act; that the loans availed by the writ petitioners remain unpaid ..... 35859 of 2005, by filing a rejoinder, submitting that although the lic housing finance has submitted that they are a financial institution entitled to invoke the provisions of sarfaesi act, but they have stated that they are not a bank or financial institution under act 51 of 1993, thus they are taking contrary stands. ..... 35859 of 2005, wherein the demand notice issued by the lic housing finance, was challenged, the ind bank housing limited has filed w.p.m.p. no. .....

Verizon Communications Singapore Pte Ltd. Vs. Income Tax Officer of In ...

Court : Chennai

..... he held that by reason of the amendment to section 9(1) with effect from 01.04.1976, under finance act 2010, the reliance on the decisions reported in (2006) 282 itr273(bharat ..... such income and territory of india and that the services had to be rendered in india and utilised in india, an explanation was inserted below sub-section 2 of section 9, with effect from 01.06.1976 under finance act, 2007 clarifying that when income is deemed to accrue or arise in india under clauses (v), (vi) and (vii) of sub-section 1 to section 9, such income shall be included in the total income of the non-resident regardless of whether the non-resident has a residence or place of ..... . he also took us through the double taxation avoidance agreement re-negotiated in 2005 and submitted article 12(3) and 12 (4) of the tax treaty deals with payments of royalties and ..... rulings of the authority for advance ruling reported in (2005) 305 itr37(dell international services (india) pvt ..... the details of the agreement and the arguments in this case, we may point out that the decisions reported in (2005) 305 itr37(dell international services (india) pvt ..... further referred to the decision reported in (2005) 305 itr37(dell international services (india ..... came up for consideration before the authority for advance ruling in the decision reported in (2005) 305 itr37(dell international services (india) pvt ..... . ito) and 2005 3 sot529(software technology ..... ito (2005) 3 sot529and the binding decision of the honourable supreme court in the .....

Commissioner of Income Tax Vs. Mrs. C. Malathy

Court : Chennai

Reported in : (2008)214CTR(Mad)173

..... during the period commencing on the 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and(b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, re-assessment ..... , as per which, where a return has been furnished during a period commencing on 1st of october 1991 and ending on 30th of september 2005 pursuant to a notice served under section 148 and a notice under section 143(2) has been served after the expiry of twelve months as specified under section 143(2) as it stood before the amendment under the finance act, 2002, but before making the assessment, every such notice shall be deemed to be a valid notice; in the circumstances, the order of the .....

The Commissioner of Income-tax Vs. Synergy Financial Exchange Ltd.

Court : Chennai

Reported in : (2006)205CTR(Mad)481; [2007]288ITR366(Mad); (2006)4MLJ1411

..... in law to take a liberal view or lenient approach to give retrospective effect to the deletion of second proviso to section 43b of the act so as to apply the same to the assessment year 1994-95, particularly when there is no indication in the finance act, 2003 from the language used and from the object indicated that the legislature intended expressly or by implication that the second proviso to section 43b was deleted to cure an acknowledged evil for the benefit of the community as a whole or to remove ..... according to the learned counsel for the assessee, the deletion of second proviso to section 43b by the finance act, 2003 with effect from 1.4.2004, should be given retrospective operation so as to make it applicable to the impugned assessment year 1994-95.4.7. ..... before the due date under the relevant act is not entitled to the deduction without the aid of subsequent amendment, because only by way of subsequent amendment, due to the omission of the second proviso to section 43-b of the act, the assessee is able to get deduction of payments made towards provident fund, superannuation fund, gratuity fund, etc. ..... cit : [2005]279itr310(sc) ]. ..... : [2005]272itr177(mad) ]. 4.17. .....