Judgment Search Results Home > Cases Phrase: finance act 2005 section 48 amendment of section 194a Page 1 of about 34 results (0.132 seconds)

M/S New Okhla Industrial Development Authority Vs. Commissioner Income ...

Court : Supreme Court of India

..... the revenue also relied on division bench judgment of allahabad high court in writ petition tax no.1338 of 2005 decided on 28.02.2011 where the allahabad high court has held that noida is not a local authority within the meaning of section 10(20) as amended by finance act, 2002. ..... with regard to income tax deduction at source under section 194a, the revenue has referred to its appeal in special leave petition (c) no.34530 of 2016 commissioner of income tax tds kanpur vs. ..... (3) amounts which are payable towards interest on the payment of lump sum lease premium, in terms of the lease which are covered by section 194 a are covered by the exemption under section 194a(3)(f) and therefore, not subjected to tds. ..... now coming to the appeals filed by the revenue, insofar as the question relating to exemption under section 194a(3) (iii)(f) by virtue of notification dated 24.10.1970, i.e. ..... delhi high court further 7 held that interest income of the noida and greater noida is exempted under the notification dated 22.10.1970 issued under section 194a(3)(iii)(f) of the income tax act. ..... it was further 6 contended that the interest received by them is exempt under section 194a(3)(iii)(f) of the income tax act and they are exempted from payment of any tax on the interest.4. ..... having held that noida is covered by the notification dated 22.10.1970, the judgment of the delhi high court holding that noida/greater noida is entitled for the benefit of section 12 194a(3)(iii)(f) has to be approved.13. .....

In Re: Kranti Kumar Saxena

Court : Madhya Pradesh

Reported in : [2003]262ITR33(MP)

..... in this reference petition it has been stated on behalf of the executing court that firstly the executing court decided to deduct this amount and to credit it to the income-tax department but later on under section 194a of the income-tax act, 1961, it appeared to the court that tax on the amount of interest is to be deducted by the person who is actually responsible for its payment and that is to be deducted at the earliest point of time. ..... (10 of 1949), applies (including any bank or banking institution referred to in section 51 of that act) ; or(b) time deposits with a co-operative society engaged in carrying on the business of banking ;(c) deposits with a public company which is formed and registered in india with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in india for residential purposes and which is for the time being approved by the central government for the purpose of clause ..... as regards question (c), as per the decisions and the provisions of section 194a read with section 204 of the income-tax act, 1961, the court is not the person responsible for paying any income by way of interest to the assessee, the real person responsible for paying income by way of interest is the land acquisition officer or collector who ..... this section 194a has been inserted in the income-tax act, 1961, by the finance (no. .....

m/s.karnataka Power Transmission Vs. The Deputy Commissioner Of

Court : Karnataka

..... it is further contended that even prior to the amendment to section 201(1) of the act by finance act, 2008, the law that existed at the relevant point of time provided for deduction of tax at source and section 200 of the act during the relevant period clearly attracted even in cases where the tax was not ..... tribunal after elaborately considering the grounds urged by the assessee and analytically examining the material on record, had confirmed the order passed by the authorities as 15 mandatory provision under section 194a of the act has not been complied by the assessee.18. ..... examined the applicability of section 194a of the act to the present case. ..... assessee company is in default for non compliance of tds provision under section 194a of the act as held by the tribunal. ..... however, as these amount of provision created by book entries towards contingent interest payable for assessment years 2005-06 and 2006-07, a corresponding reversal entries were made in the books of accounts during the financial year 2007, indicating that the subject amounts 4 of provision towards contingent interest would never be ..... the suppliers of power not to enforce the interest clause in the power purchase agreement and thereby the appellant had no obligation to pay interest and consequently, had no 6 obligation to deduct tax at source under section 194a of the act.2. ..... the circumstances, the assessee falls outside the scope of section 194a read with section 200 of the act during 28 the relevant assessment years. .....

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... w.p.no.1676 of 2013 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 of the constitution of india declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... w.p.no.29398 of 2010 is filed under article 226 of constitution of india praying to issue a writ of declaration, or any other appropriate writ, order or direction under article 226 declaring that section 65(105)(zzzzt) of the finance act, 1994 as amended by finance act, 2010 unconstitutional and ultra vires, article 246 of the constitution of india read with entry 54 of list ii of schedule vii and article 14 of the constitution of india. ..... union of india [(2005) 4 scc214, the writ petitioners were customers or clients of goods transport operators and forwarding and clearing agents ..... union of india, (2005) 4 scc214and bsnl vs ..... union of india (2005) 4 scc214i.e. ..... state of u.p, (2005) 2 scc515 ultimately even a tax on goods will be on the taxable event of ownership or possession ..... (2005) 2 scc515 in which, the supreme court observed that in the classical sense a tax is composed of two elements : the person, thing or activity on which tax is imposed ..... (2005) 4 scc214and all-india federation of tax practitioners, (2007) 7 scc527 51 .....

G.V.Matheswaran Vs. the Union of India

Court : Chennai

..... 33 w.p.nos.14887, 19322, 20982 and 24804 of 2010 are filed seeking a writ of prohibition prohibiting the respondents from (a) giving effect to the provisions of section 65(90a) read with section 65(105)(zzzz) of the finance act, 1994 as amended by the finance act, 2007 and finance act, 2010 (b) levying or attempting to levy, collect or recover from the petitioner, any service tax under the said provisions and (c) levying or attempting to levy, collect or recover from the ..... w.p.nos.24586 and 24588 of 2010 are filed seeking to declare that (i) the impugned provisions, i.e.section 65(105)(zzzz) read with section 65(90-a) of the finance act, 1994, as amended by the finance act, 2010, as null and void and ultra vires and violative of entry 49, list-ii, seventh schedule, articles 14, 19 and 246(3) of the constitution of india, (ii) section 76(a)(6)(h) and section 77 of the finance act, 2010 as null and void and ultra vires the constitution of india insofar as the petitioners are concerned ..... it is the further submission of the learned senior counsel appearing for the petitioner that upto the year 2005, the said act was performed by the railway administration directly and on account of policy decision, it was entrusted to irctc and the ministry of railways is having 100% shares in the said corporation and it is also ..... granted after inviting tender and the price of eatables and beverages is also fixed by the railway board and it was also done by irctc during the period between 2005-2010. .....

Commissioner of Income-tax, Kerala Vs. K. Srinivasan

Court : Supreme Court of India

Reported in : AIR1972SC491; [1972]83ITR346(SC); (1972)4SCC526; [1972]2SCR309

..... on a reference being sought the following question of law was referred to the high court :-whether the words 'income tax' in the finance act of 1964 in sub-section (2)(a) and sub-section (2)(b) of section 2 would include surcharge and additional surchargethe high court answered the question in the negative and m favour of the assessee.3. ..... although under the act section 4 is the charging section income tax can be charged only where the central act which, in the present case, will be the finance act enacts that income shall be charged for any assessment year at the rate or rates specified therein. ..... section 2 of the finance act 1971 is to the effect that the provisions of section 2 and of the first schedule to the finance act 1970 shall apply in relation to income tax for the assessment year or as the case may be the financial year commencing on the first day of april 1971 as they apply in relation to income tax for the assessment year commencing on first day of april 1970 with certain modifications set out in the section. ..... section 3(1) of that act read :subject to the provisions of this section the rates of income tax and rates of super tax...imposed by sub-section (1) of section 7 of the indian finance act 1940 shall, in respect of the year beginning on the first day of april 1940 be increased by a surcharge for the purpose of the central government....similar phraseology was employed in respect of surcharge on super tax. .....

Kanoria Industries Ltd. Vs. Union of India (Uoi)

Court : Karnataka

Reported in : 2005(190)ELT295(Kar)

..... has been deprived of modvat credit to which the petitioners are otherwise entitled to in terms of the rules governing allowing of modvat credit, only because of the provisions of section 112 of the finance act, 2000, the petitioners are entitled to question the legality of this provision and further submits that even the supreme court while disposing of the review petition in the case ..... provisions of law or rule and therefore there was no occasion at all for the parliament to have enacted a validating levy and if there was no occasion, the very provisions of section 112 of the finance act, 2000 cannot be sustained inasmuch as it is the submission of learned counsel for the petitioners that there was no cause of action for the parliament to make such a law, ..... court had earlier dismissed the appeal of the revenue as against this order, nevertheless, the revenue having brought to the notice of the supreme court the provisions of section 112 of the finance act, 2000, which was enacted as a validating legislation and which had now virtually taken away any benefit or concession that had been given to an assessee under the ..... have continued to reap the benefit of modvat credit and the petitioner therefore feeling aggrieved by this endorsement as also the provision of section 112 of the finance act, 2000, has challenged the constitutional validity of this statutory provision and for quashing the consequential endorsement and further direction for restoration of the modvat credit entry.4. ..... 2005 .....

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2007)288ITR226(Hyd.)

..... " payable under chapter xvii-c in a case falling under section 115a or section 115b or section 115bb or section 115e or section 164 or section 164a or section 167b, section 115b or section 164, the rate or rates specified in section 115a or section 115b or section 115bb or section 115e or section 164 or section 164a or section 167b, as the case may be, or the rate or rates of income-tax specified in this behalf in the finance act of the relevant year, whichever is applicable; (ii) for the purposes of deduction of tax under sections 193,194, 194a, 194b, 194bb, and 194d 194d and 195, the ..... there is no distinct and independent charge whereby surcharge can be said to have been levied on undisclosed income determined for a block period under chapter xivb.12.72 even otherwise, we find that the finance act(s), prior to amendment in section 113 of the act, did not satisfy the four components which enter into the concept of tax and some of these components are not clearly and definitely ascertainable, in order to be treated as an independent and distinct levy/charge which is ..... acit (2005) 3 sot 192 (chennai) and calcutta bench of the tribunal in the case of acit v.sri subhash kumar bhunia i.t.a(s.s.) no. .....

Karvy Consultants Limited Vs. Government of India

Court : Andhra Pradesh

Reported in : 2006[]STR75

..... that section 65(19) of the finance act, 1994, as amended by the finance act of 2003, has no application to the petitioner's service namely 'registrar and transfer agency' and consequently interdict the 2nd respondent from proceeding in furtherance of the show cause notice dated 3-1-2005.2. ..... of this clause, 'information technology service' means any service in relation to designing, developing or maintaining of computer software, or computerized data processing or system networking, or any other service primarily in relation to operation of computer systems.section 65(19), as amended by finance act, 2004 with effect from 10-9-2004, reads thus :-business auxiliary service' means any service in relation to :-(i) promotion or marketing or sale of goods produced or provided by or belonging to the client; or(ii) promotion or marketing of ..... their case that the show cause notice dated 3-1-2005, issued by the 2nd respondent, was under the erroneous supposition that section 65(19) of finance act, 2003 encompassed the nature of activity carried on by ..... show cause notice merely demanded service tax on service charges collected by the petitioner towards such services rendered from 1-7-2003 to 31-1-2004, that the show cause notice was issued after strictly construing section 65(19) of the finance act, 2003, that the functions of the registrar and share transfer agent is a service rendered which is in the nature of incidental or auxiliary support service rendered in the contract of sale of .....

State of West Bengal Vs. Calcutta Club Limited

Court : Supreme Court of India

..... in the result, these petitions are allowed and it is hereby declared that section 65(25a), section 65(105) (zzze) and section 66 of the finance (no.2) act, 1994 as incorporated/ amended by the finance 60 act, 2005 to the extent that the said provisions purport to levy service tax in respect of services purportedly provided by the petitioner club to its members, to be ultra vires. ..... under section 64(3), chapter v of the finance act applied to taxable services as defined, with effect from 16th june, 2005. ..... . the finance act, 2005 brought 9 new services under the service tax net ..... . the explanation to section 65, which was inserted by the finance act of 2006, reads as follows: explanation: for the purposes of this section, taxable service includes any taxable service provided or to be provided by any unincorporated association or body of persons to a member thereof, for cash, deferred payment or any other valuable consideration: 79 ..... been liable immediately before the appointed day to pay tax under section 4 or section 8 of the bengal finance (sales tax) act, 1941 (bengal act vi of 1941), and who 17 (ii) would have continued to be so liable on such appointed day under that act had this act not come into force, or whose gross turnover during a year first exceeds the taxable quantum as applicable to him under the bengal finance (sales tax) act, 1941, on the day immediately preceding the appointed day, (b)every .....