Judgment Search Results Home > Cases Phrase: finance act 2005 section 53 amendment of section 206c Page 1 of about 2,673 results (0.153 seconds)

Cit Vs. Engineers India Ltd

Court : Delhi

..... section 244a of income tax act which is at the core of this dispute, as it stands after amendment by finance act, 2005 ..... (6) a person who is served with an order of the assessing officer under sub- section (3) or amended order under subsection (4) shall, if in his estimation the advance tax payable on his current income would exceed the amount of advance tax specified in such order or amended order or intimated by him under sub- section (5), pay on or before the due date of the last installment specified in section 211, the appropriate part or, as the case may be, the whole of such higher amount of advance ..... (1)where refund of any amount becomes due to the assessee under this act, he shall, subject to the provisions of this section, be entitled to receive, in addition to the said amount, simple interest thereon calculated in the following manner, namely:(a) where the refund is out of any tax paid under section 115wj or collected at source under section 206c or paid by way of advance tax or treated as paid under section 199, during the financial year immediately preceding the assessment year, such ..... concededly, the provisions contained in section 115wj (advance tax in respect of fringe benefits), section 199 (credit for tax deducted), section 206c (profits and gains from the business of trading in alcoholic liquor, forest produce, scrap ..... benefit tax), 206c (tax collected at source), 199 (advance tax), section 140a (self assessment tax) does not find any mention in section 244a. .....

Income Tax Officer Vs. Vikram Sujitkumar Bhatia

Court : Supreme Court of India

..... the first proviso to section 153c of the act, 1961 came to be inserted vide finance act, 2005 with retrospective effect from 01.06.2003, which provides that the reference to the date of initiation of the search under section 132 or making of requisition under section 132-a in the second proviso to sub-section (1) of section 153-a shall be construed as a reference to the date of receiving the books of account or documents or assets seized or requisitioned by the assessing officer having jurisdiction over such other person. ..... he has taken us to the section 153c of the act, 1961 as it stood before the amendment vide finance act, 2015 and section 153c civil appeal no.911 of2022page 18 of 67 after being amended by the finance act, 2015, which read as under:- section 153c as it stood before the amendment vide finance act, 2015 read as:- 153-c. ..... high court has quashed the notice under section 153c of the income tax act, 1961 (hereinafter referred to as act, 1961 ) issued to the civil appeal no.911 of2022page 12 of 67 respondent assessee - respondents herein and set aside consequent assessment orders (where assessment stood completed) by holding that section 153c of the act, 1961 (as amended by finance act, 2015) would not apply to searches under section 132 of the act, 1961 initiated before the date of amendment, the revenue has preferred the present appeals .....

Gal Offshore Services Ltd. (Now the Great Eastern Shipping Company Ltd ...

Court : Mumbai

Reported in : (2009)221CTR(Bom)448; [2009]309ITR125(Bom)

..... , submitted by the assessee before us that the finding of the tribunal that the amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and retrospective, is erroneous and is contrary to the decision of the hon'ble supreme court, particularly as the amendment to section 33ac by the finance act, 1995 makes a clear departure from the old provisions and is explicitly stated to ..... the submission of the assessee that the tribunal has erred in coming to the conclusion that the amendment made by finance act, 1995 to section 33ac is clarificatory and hence retrospective is erroneous, the learned advocate for the assessee relied on the ..... itat, mumbai dismissed the appeal filed by the assessee upholding disallowance of deduction under section 33ac primarily on the following grounds:i) section 33ac contemplates actual carrying on of the business of operations of shipping in the year of claim;ii) amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and retrospective.iii) circular ..... as regards the arguments/contentions of the revenue/tribunal that the amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and not retrospective, we are of the view that since ..... commissioner of income tax : [2005]279itr310(sc) wherein it was held that the amendment to the explanation to sectionn 9(1)(ii) brought about by the finance act, 1999 was deliberately introduced with effect from 1st april, 2000 and was, .....

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. .....

Shree Choudhary Transport Co. Vs. Income Tax Officer

Court : Supreme Court of India

..... not limited only to the amount outstanding and this provision equally applies in relation to the expenses that had already been incurred and paid by the assessee; that disallowance under section 40(a)(ia) of the act of 961 as introduced by the finance (no.2) act, 2004 with effect from 01.04.2005 is applicable to the case at hand relating to the assessment year 2005-2006; and that the benefit of amendment made in the year 2014 to the provision in question is not available to the appellant in the present case ..... learned counsel for the revenue has further contended that the amendment to section 40(a) of the act with insertion of sub-clause (ia) by the finance (no.2) act, 2004 with effect from 01.04.2005 directly applies to the assessment year 2005-2006; and for the appellant having failed to deduct tax at source from the payment made to the sub-contractors for the work of transportation, deduction of such payment has rightly been disallowed. 11.5. ..... . before proceeding further, it appears apposite to observe, as indicated in paragraph 7.3 hereinbefore, that in the copy of order passed by itat in this case, there is obvious typographical error on the date of coming into force of the amendment to section 40 of the act of 1961 by the finance (no.2) act, 2004 inasmuch as the said amendment was made applicable with effect from 01.04.2005 and not 01.04.2004, as appearing the copy of the order of itat .....

Commissioner of Service Tax Vs. P.J. Margo Pvt. Ltd.

Court : Karnataka

Reported in : 2010[18]STR146

..... was liable to tax in terms of the provisions of section 11a of the act, on the premise that there was ..... section 35g of the central excise act, 1944, by the commissioner of service tax, service tax commissionerate, bangalore, is as to whether the tax liability under the provisions of finance act, 2005, in respect of the activity of the respondent-assessee namely, activity of enhancing the acidic value of humic acid supplied to the assessee by its sister concern on job work, by collecting the process charges, for the period from 10-9-2004 to 28-2-2005 ..... section 65(19) of the finance act, 1994 and this statutory provision has undergone a change by the amendment given effect retrospectively from 10-9-2004, as substituted by the finance ..... having failed to file a return for the period in question, though had actually registered as a service provider, was liable to pay tax under the provisions of the act, even prior to 1-3-2005 and therefore, it is obvious that the assessee has suppressed the taxable income (service charges) and as such the order passed by the adjudicating authority bringing to tax ..... act, 2004 and again by way of amendment of finance act, 2005 notified on 16-6-2005 .....

Whirlpool of India Limited and anr Vs. Uoi and ors

Court : Delhi

..... : in this writ petition, the petitioner challenges the retrospectivity of the amendment made to section 115 jb of the income tax act, 1961 by the finance (no.2) act, 2009 by insertion of clause (i) to explanation 1 with retrospective effect from 01.04.2001.2 ..... in view of the forgoing discussion, we hold that the amendment made to explanation 1 to section 115jb of the income tax act, 1961 by the finance (no.2) act, 2009 by insertion of clause (i) with retrospective effect from 1.4.2001 is not ultra vires or unconstitutional ..... second question which fell for consideration was the validity of the retrospective amendment made to section 80j by the finance (no.2) act, 1980, with effect from 1.4.1972. ..... what section 80j did, when it was amended by the finance (no.2) act, 1980, with retrospective effect from 1.4.1972, was to withdraw the benefit which had already accrued to the assessee as a vested statutory right and it was this kind of retrospective amendment which sought to defeat an accrued statutory right that was perceived to be likely to affect the sanctity of any statutory provision and may create a state of ..... , j, made in the context of section 80j and the retrospective amendment made by the finance (no.2) act, 1980 with effect from 1.4.1972, would be out of place in the context of chapter xii b of the income tax act. ..... , (2012) 348 itr 391.the amendment made to section 80hhc of the income tax act by the taxation laws (2nd amendment) act, 2005 was challenged to the extent of its .....

The Commissioner of Central Excise Vs. M/S.Sri Chaitanya Educational C ...

Court : Andhra Pradesh

..... after coming into force of the amendment to section 65(105) of the finance act, in spite of advice by the revenue, the ..... , the commissioner of central excise & customs issued notice dated 08.9.2008 calling upon the petitioner to show cause as to why action should not be taken under section 73(1) of the finance act, and the service tax rules, 1994, for consideration of the commercial nature of business, wilful delay in obtaining registration, wilful default in payment of service tax and submission of information, and wilful ..... analysed as above, the following principles would emerge which have to be kept in mind while considering the applications for stay or for dispensing with the requirement of pre-deposit under section 35f of the central excise act, or under section 129e of the customs act, or other similar provisions.1) the applications for stay should not be disposed of in a routine manner unmindful of the consequences flowing from the order requiring the assessee to deposit ..... not maintainable; as the respondent society is a non-profit coaching centre, using its surplus only for educational activities, it is not liable to pay service tax; as the respondent is registered under section 12a of the income tax act, 1961 as a charitable trust, it cannot be treated as a commercial training or coaching centre; and, as levy of service tax was beyond the period of one year, it is barred by section 73 of the finance act.5. ..... in march, 2005, the corporate office of the respondent was .....

Commssioner of Income Tax Vs. Haryana Minerals Ltd.

Court : Punjab and Haryana

Reported in : [2009]313ITR318(P& H)

..... it is sufficient to mention that the cit(appeals) as well as the tribunal have treated the provisions of the amended section 80hhc of the act applicable to the case of the assessee as if the amendment made by finance act no. ..... applying the ratio of the judgement of hon'ble the supreme court in respect of the assessment year 1984-85 it was held that the benefit of amendment made in section 80hhc by finance act no. ..... in that regard again reliance was placed on the judgement in the case of m/s gem granites (supra) wherein section 80 hhc(unamended) alongwith the amendment made by finance act no. ..... whether on the facts and in the circumstances of the case, the hon'ble tribunal was right in law in giving retrospective effect to the insertion made in sub clause (ii) of clause (b) of sub section (2) of section 80hhc, by finance (no.2) act, 1991 w.e.f. ..... as a corollary to this, it must be held that the order passed by the assessing officer to rectify the mistake committed earlier by allowing deduction to the assessee on the basis of amended section 80hc does not suffer from any legal infirmity.5. ..... 40 of 1997 directed the tribunal exercising power under section 256(2) of the act to draw the statement of the case and refer the afore-mentioned two questions for its opinion. ..... , nizampur road, narnaul) both the questions have now been decided by a division bench of this court on 12.1.2005 in favour of the revenue and against the assessee.3. ..... commissioner of income tax tamil nadu (2005) 26 itr 1. .....

Jacobus Johannes Liebenberg No. and Others Vs. Bergrivier Municipality

Court : South Africa Supreme Court of Appeal

..... section 179 of the finance act reads: repeal and amendment of legislation (1) the legislation referred to in the second column of the schedule [including s 10g(7)] is hereby amended or repealed to the extent indicated in the third column of the schedule (2) despite the repeal of section 10g of the local government transition act, 1993 (act 209 of 1993), by subsection (1) of this section, the provisions contained in subsections (6), (6a) and (7) of section 10g remain in force until the legislation envisaged in section 229(2)(b) of the constitution is enacted. . . . ..... followed the local government: municipal systems act 32 of 2000 (the systems act), the local government: municipal finance management act 56 of 2003 (the finance act) (which came into operation on 1 july 2004) and lastly the local government: municipal property rates act 6 of 2004 (the rates act) (which came into operation on 2 july 2005). ..... imposed in the 2001/2002 financial year were not lawfully imposed although that had been conceded); that the 2002/2003 rates were not lawfully imposed; that the rates imposed in 2004/2005 and 2005/2006 were lawfully imposed and that the municipality could recover the amounts payable from the farm owners; but that the municipality had not complied with statutory requirements in imposing rates in ..... on 5 may 2005 the municipality published a notice in terms of s 22 of the finance act stating that the draft budget, as well as the draft reviewed integrated development plan, were open for .....