Judgment Search Results Home > Cases Phrase: finance act 2005 section 18 amendment of section 54ed Page 10 of about 4,192 results (0.130 seconds)

Boc India Ltd. Vs. State of Jharkhand and ors.

Court : Supreme Court of India

Reported in : 2009(237)ELT7(SC); JT2009(4)SC11; 2009(3)SCALE818; 2009(3)LC1119(SC); (2009)11VatReporter146; (2009)21VST490(SC)

..... 1,02,45,572/- by 20.5.2005, otherwise the proceedings for imposition of penalty will be initiated against you under section 16(9) of bihar finance act, 1981 as adopted by jharkhandanother notice dated 29.6.2005 was also issued, stating:in spite of informing you by this office's letter no. ..... 1,02,45,572/- by 15.7.2005, otherwise the proceedings for imposition of penalty will be initiated against you under section 16(9) of bihar finance act, 1981 as adopted by jharkhand.11. ..... (b) where the information furnished by a dealer under section 54 or otherwise received by the authority prescribed under sub-rule (3) necessitates amendment of the registration certificate of the dealer the said authority shall, where the dealer has not submitted the certificate for amendment, direct him to produce the certificate and he shall comply with such direction. ..... (c) where the information furnished by a dealer under section 54 or otherwise received by the authority prescribed in sub-rule (3) necessitates amendment in a declaration furnished under section 15 the dealer shall furnish to the said authority a revised declaration until such revised declaration is furnished to the said authority the original declaration shall continue to be deemed valid and binding.6. ..... concededly, tisco never applied for amendment or modification of the registration certificate. ..... on receipt of the certificate the said authority shall, after such verification as may be necessary, amend the certificate suitably. .....

Sea Pearl Enterprises Vs. Deputy Commissioner of Income Tax

Court : Kerala

Reported in : (2006)204CTR(Ker)81

..... purposes of computing the interest payable under section 140a, be deemed to be tax on total income as declared in the ..... the additional income-tax, if any, payable under section 143.explanation 3 ; where, in relation to an assessment year, an assessment is made for the first time under section 147, the assessment so made shall be regarded as a regular assessment for the purposes of this section.explanation 4 omitted with retrospective effect from 1st april, 1989 by finance act, 2001 was as follows:explanation 4 : in this sub-section, 'tax on the total income as determined under sub-section (1) of section 143 or on regular assessment' shall, for the ..... interest levied on petitioners is not consistent with the law as stated by the patna high court confirmed by the supreme court in the abovereferred decisions, the demand of interest based on assessed, income is perfectly in order by virtue of the amendment to the act by finance act, 2001 whereunder expln. ..... union of india : 2005(188)elt129(sc) , shii prithvi cotton milk ltd. v. .....

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. .....

The Commissioner of Income-tax. Vs. Shri Bharat R. RuiA.

Court : Mumbai

..... of a forward market or a stock exchange in the course of any transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of his business as such member;shall not be deemed to be a speculative transaction; " 22) section 43(5) has been amended by finance act, 2005 with effect from 1/4/2006 by inserting clause (d) and explanation as follows:- " definitions of certain terms relevant to income from profits and gains of business or profession.43. ..... mistri submitted that clause (d) to the proviso to section 43(5) of the act inserted by the finance act, 2005 with effect from 1/4/2006 also supports the contention of the assessee. ..... gupta further submitted that clause (d) inserted to the proviso to section 43(5) by finance act, 2005 specifically provides that with effect from 1/4/2006 exchange permitted derivative transaction shall not be deemed to be a speculative transaction. ..... therefore, the transactions covered under clause (d) would not be treated as speculative transactions only with effect from 1/4/2006.37) the argument advanced on behalf of the assessee that clause (d) inserted to the proviso to section 43(5) by finance act, 1995 with effect from 1/4/2006 is clarificatory and hence retrospective in nature, cannot be accepted, because, firstly, the legislature by finance act, 1995 has specifically provided that clause (d) to the proviso to section 43(5) shall come into operation prospectively with effect from 1/4/2006. .....

M/S South Eastern Coalfields Ltd Vs. Cce, Raipur

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

..... corrigendum to the notice was issued on 02-11-2004 pointing out the retrospective amendment made in finance act, 1994 by finance act 2003 and the prospective amendment in section 73 of finance act 1994 made by finance act 2004. ..... after the retrospective amendment by finance act 2000, the question arose whether this amendment was good enough to issue demands under section 73 of finance act, 1994 on persons who had not paid tax during the said period as per rule 2 (1) (d) ..... now the question arose whether this amendment was good enough to issue demands under section 73 of finance act, 1994 on persons who had not paid tax during the said period a per rule 2 (d) ..... section 73 was amended by finance act 2004, to replace section ..... the show cause notice in this case is issued after the retrospective amendment made by finance act, 2000 but before the amendment made by finance act, 2003 and 2004 in this matter which are also being mentioned in this order for sake of clarity on the issue and for the reason that corrigendum to the show cause notice was issued on 02-11- ..... the defect pointed out by the apex court in the case of laghu bharati udyog (supra), the parliament made retrospective amendment by section 117 of the finance act, 2000. ..... the defect pointed out by the apex court in the case of laghu bharati udyog (supra), the parliament made retrospective amendment by section 117 of the finance act, 2000. ..... which was affirmed by the apex court as reported at 2005 (187) elt 5 (sc) in favour of the service .....

C.i.T. Kolkata Iv Vs. Shyamal Kumar Parui

Court : Kolkata

..... (2004) 268 itr498(cal) is prior to the amendment made by the finance act, 2003 inasmuch as 2nd proviso to section 43b has been omitted by the finance act, 2003. ..... ms.s.das de, advocate the court : this appeal has been preferred under section 260a of the income tax act, 1961 from the order dated 13th june, 2005 passed by the income tax appellate tribunal d bench, kolkata in ita no.2147/kol/2004 for the assessment year 2001-2002 on the following questions: i) whether on the facts and in the circumstances of the ..... (2005) 92 itd1(del) has again held at page 2 (sheet) note that as per the amendment provisions of section 43b, the payments made by the employer towards contribution to pf, esi, gratuity, superannuation and other welfare funds are allowable if the same are paid before filing the return of income and necessary ..... case, the tribunal was justified in deleting the addition of rs.35,268/- and rs.5,89,024/- made under section 43b on account of delayed payment of provident fund ..... order sheet in the high court at calcutta special jurisdiction (income tax) original side ita no.451 of 2005 c.i.t.kolkata iv versus shyamal kumar parui before: the hon'ble justice soumitra pal the hon'ble justice debangsu basak date : 10th .....

Director Of I.t New Delhi Vs. M/s Mitsubhishi Corp.

Court : Supreme Court of India

..... year, whichever is higher, shall be taken and income-tax thereon shall be calculated at the rates in force in the financial year; (c) where the calculation is made by the assessing officer for the purpose of making an amended order under sub-section (4) of section 210, the total income declared in the return furnished by the assessee for the later previous year, or, as the case may be, the total income in respect of which the regular assessment, referred to in that sub ..... the memorandum explaining the provisions of the finance bill, 2012 provides necessary context that the amendment was warranted due to the judgements of 19 | pa ge courts, interpreting section 209 (1) (d) of the act to permit computation of advance tax by the assessee by reducing the amount of income-tax which is deductible or collectible during the financial year. ..... the cit took note of the order passed by the itat on 08.08.2008 in respect of the assessment year 2005-06 in case of the respondent. ..... by the respondent against the order dated 10.02.2009 of the cit, the itat held that the issue was covered by its earlier decision dated 08.08.2008 in the case of the respondent for the assessment year 2005-06, the decision of the special bench of the itat in the case of motorola incorporation (supra) as well as 1 [2005]. ..... scr25910 (2005) 1 scc28918 | pa ge other species of processed minerals and ores would continue to be covered by the general exclusion applicable to the generic class. .....

Union Of India Vs. Ashish Agarwal

Court : Supreme Court of India

..... 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 subsection (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 or recomputation as specified in sub section (2) of section 153, every such notice referred to in this clause shall be deemed to be a valid notice: provided ..... further that in a case (a) where a return has been furnished 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 .....

The Commissioner of Income Tax-v Vs. P.M. Electronics Ltd.

Court : Delhi

Reported in : (2008)220CTR(Del)635; [2009]313ITR161(Delhi); [2009]177TAXMAN1(Delhi)

..... after noting the said judgment the fact that the amendments had been made to the provisions of section 43b of the act by virtue of finance act, 2003 w.e.f 1.4.2004 it agreed with the submission of the learned counsel for the assessee that by virtue of the omission of the second proviso and the omission of clauses (a), (c), (d), (e) and (f) without any saving ..... (2005) 92 itd 1 delhi, has taken the view that the amendment brought about in section 43b by virtue of finance act, 2003 was curative in nature and ..... the revenue has proposed the following questions of law which according to them are substantial questions of law:(a) whether amounts paid on account of pf/esi after 'due date' are allowable in view of section 43b, read with section 36(1)(va) of the act'(b) whether the deletion of the 2nd proviso to section 43 by way of amendment by the finance act, 2003 is retrospective in nature3. ..... position as regards the state of the law for a period prior to the amendment to section 43b has been noticed by a division bench of this court in dharmendra sharma ..... evident that the special leave petition was dismissed by a speaking order and while doing so the supreme court had noticed the fact that the matter in appeal before it pertain to a period prior to the amendment brought about in section 43b of the act. ..... this is an appeal under section 260a of the income tax act, 1961 (hereinafter referred to in short as the act) against judgment dated 12.8.2005 in ita no 1585/del/2002 in respect of the .....

Salem Textiles Limited 'B' unit rep. by Its General Manager (Tech), Mr ...

Court : Chennai

Reported in : (2008)1MLJ844

..... while dealing with the said amendment act, it was held that the object of the finance act, 2003, which has in effect amended section 65(5), 66(3) and 68 of finance act, 1994 was to nullify the ..... the question is whether by enacting sections 116 and 117 of the finance act, 2000 and section 158 of the finance act, 2003, the bases on which this court struck down rules 2(1)(d)(xii) and (xvii) of the service tax rules, ..... the amendments to the said act sought to be effected by the tamil nadu act 38 of 2007 except section 6 are deemed to have come ..... under the amendment act 38 of 2007, a new clause has been introduced in section 2(2-a) in respect of ..... raman, learned additional advocate general appearing for the respondent electricity board has contended that when by virtue of the validating act 38 of 2007 changes have been effected to the tamil nadu act 12 of 2003, which was consequent to the judgment of the supreme court and the definition of the term 'consumption charge' has been newly incorporated and as long as the definition of the word ..... it is true that the hon'ble supreme court while construing the provisions of tamil nadu tax on consumption or sale of electricity act, 2003 (tamil nadu act 12 of 2003) has held that there cannot be levy of tax on demand and it can be only as per the consumption and ..... : [2005]274itr194(sc) stating that the object of the validating act would in effect nullify the decision of the supreme ..... 2005]274itr194(sc) has dealt with the validity of an amendment act .....