Judgment Search Results Home > Cases Phrase: finance act 2005 section 95 charge of banking cash transaction tax Page 1 of about 1,043 results (0.093 seconds)

Ags Entertainment Private Limited Vs. Union of India

Court : Chennai

..... since the tax on the transfer of the right to use copyright is covered under entry 54 of list ii, the union is not competent to levy and/or collect service tax on the transaction under section 65 of the finance act and is beyond the legislative competence ..... the definition of sale under section 2(33) of tamil nadu vat act which reads as under:- section 2(33) 'sale' with all its grammatical variations and cognate expressions means every transfer of the property in goods (other than by way of a mortgage, hypothecation, charge or pledge) by one person to another in the course of business for cash, deferred payment or other valuable consideration and includes,- (i)a transfer, otherwise than in pursuance of a contract of property in any goods for cash, deferred payment or other valuable ..... services constitute heterogeneous spectrum of economic activities, covers wide range of activities, such as management, banking, insurance, hospitality, consultancy, communication, administration, entertainment, research and developmental activities forming part of ..... state of u.p, (2005) 2 scc515 ultimately even a tax on goods will be on the taxable event of ..... (2005) 4 scc214and all-india federation of tax practitioners, (2007) ..... (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 ..... union of india [(2005) 4 scc214, the writ petitioners were customers or clients of goods transport operators and forwarding .....

G.V.Matheswaran Vs. the Union of India

Court : Chennai

..... in air2004sc3757 tamil nadu kalyana mandapam association versus union of india (t.n.kalyana mandapam case, for brevity) and air2007sc2990 all india federation of tax practitioners versus union of india (all india federation of tax practitioners case, for brevity).14 in t.n.kalyana mandapam case, challenge was made to sub-section (i) of section 67 of the finance act, 1994, in and by which, service tax was levied in relation to service provided by a mandap-keeper to his client and also other consequential proceedings. ..... a division bench of this court, has dismissed the writ petitions holding that the software is goods and whether such transaction would amount to sale or service, would depend upon the individual transaction and so long as the parliament has the legislative competence to enact a law, the challenge should fail and accordingly ..... 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 a government company ..... 2009 and 13880 of 2013, m/s.elnet technologies limited, made a challenge to the demand in respect of the show cause notice issued by the commissioner of service tax, chennai, as to the non-inclusion of electricity charges collected from the occupants of their immovable property in the taxable value. .....

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

Court : Supreme Court of India

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

..... 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 ..... section 2 of the finance act 1964 which is headed as 'income tax and super tax' provides in sub-section (1) that income-tax and super tax shall be charged at the rates specified in parts i and ii of the first schedule respectively and that in cases to which certain paragraphs of those parts apply these taxes shall be increased by a surcharge for the purpose of ..... if that meaning is applied to section 2 of the finance act 1963 it would lead to the result that income tax and super tax were to be charged in four different ways or at four different rates which may be described as (i) the basic charge or rate (in part i of the first schedule); (ii) surcharge; (iii) special surcharge and (iv) additional surcharge calculated in the manner provided in ..... 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 ..... under section 2 of the finance act 1963 income tax was to be charged at the rates specified in part i of the first schedule-and super tax at the rates specified in part ii of .....

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

Court : Karnataka

Reported in : 2005(190)ELT295(Kar)

..... invalidated any 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, which in effect ..... the petitioner 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 of associated ..... the supreme 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 modvat credit scheme ..... though had been availed when it had been allowed, the concession under rule 57a of the rules having now been withdrawn as it was done away in terms of section 112 of the finance act, 2000 and the supreme court in the case of commissioner of commercial taxes, hyderabad v. ..... 2005 .....

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

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

..... upon which the learned standing counsel submits that the surcharge is leviable through finance act, reads as under: (8) subject to the provisions of sub-section (9), in cases in which income-tax has to be charged under sub-section (4) of section 172 or sub-section (2) of section 174 or section 175 or sub-section (2) of section 176 of the income-tax act or deducted under section 192 of the said act from income chargeable under the head "salaries" or in which the "advance tax" shall be so charged, deducted or computed at the rate or rates specified in part iii of ..... to an assessment year for which the previous year has not ended or the date of filing the return of income under sub-section (1) of section 139 for any previous year has not expired, and such income or the transactions relating to such income are recorded on or before the date of the search or requisition in the books of account or other documents maintained in the normal course relating to such previous years the said income ..... finance act could have also resorted to some other fiction, which might conceivably have met the case; but it has failed to do so.thus, the argument that a finance act could independently levy a tax has never been negatived by the hon'ble supreme court in the case of elphinstone (supra) or in the case of khatau (supra).12.58 coming to the case of madurai district central co-operative ..... acit (2005) 3 sot 192 (chennai) and calcutta bench of the tribunal in the case of acit v.sri subhash kumar .....

Karvy Consultants Limited Vs. Government of India

Court : Andhra Pradesh

Reported in : 2006[]STR75

..... the petitioner, during the relevant period, as share transfer agent, is in the nature of incidental or auxiliary support service in the sale of goods (securities) belonging to the client and falls within the purview of section 65(19)(iv) of the finance act, 2003, that the impugned 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 ..... petition, the petitioner seeks a declaration 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. ..... it is 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 the petitioner, even ..... since the time prescribed in the show cause dated 3-1-2005, of 15 days, has already expired, we deem it appropriate to permit the petitioner to submit an additional reply, if it so desires, to the show cause notice dated 3-1-2005 bringing to the notice of the 2nd respondent the central ..... been referred to in the show cause notice issued by the 2nd respondent on 3-1-2005 nor in the counter-affidavit filed before this court. .....

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. ..... . the finance act, 2005 brought 9 new services under the service tax net ..... with reference to its value, then such value shall, - in a case where the provision of service is (i) for a consideration in money, be the gross amount charged by the service provider for such service provided or to be provided by him; in a case where the provision of service is for a consideration not wholly or partly consisting of money, be such amount in money as, with the addition of service tax charged, is equivalent to the consideration; in a case where the provision of service is for consideration which is not ascertainable. ..... the second issue is what would be included and can be classified as transactions relating to supply of goods by an unincorporated association or body of persons to its members by way of cash, deferred payment or valuable consideration. ..... . canara bank (2018) 9 scc322(in particular paragraphs 12 and 17 therein), to the effect that a company incorporated under the companies act cannot be said to be established by that act .....

Commissioner of Income-tax Vs. L.G. Balakrishnan

Court : Chennai

Reported in : [2002]255ITR339(Mad)

..... regard to the provisions of rule 9(5) of part iv of the first schedule to the finance act, 1979, the appellate tribunal was right in holding that there was neither an obligation on the assessee to return the net agricultural loss for the earlier years in the assessment of those years nor a duty was enjoined on the income-tax officer to determine the losses and hence the set off of earlier years' losses claimed ..... the benefit of set off provided for in rule 9 of part iv of the first schedule to the finance act, 1979, as long as the assessee is able to show that he had incurred loss from his agricultural activities in the earlier assessment years after a computation made in accordance with the requirements of the rules provided in the relevant finance acts and that such loss had not been set off against the agricultural income of earlier years. ..... 9 provides that notwithstanding anything contained in that rule no loss, which has been determined by the income-tax officer, under the provisions of these rules, or the rules contained in part iv of the first schedule to the finance act, 1974 (20 of 1974), or of the first schedule to the finance act, 1975 (25 of 1975), or of the first schedule to the finance act, 1976 (66 of 1976), or of the first schedule to the finance (no. ..... despite the absence of provisions similar to sections 80 and 139(3) with regard to the need for having the loss determined in the relevant assessment year before claiming the right of carry forward of the loss to .....

Commissioner of Income-tax Vs. Shri Rangnath Bangur and Shri Purshotta ...

Court : Rajasthan

Reported in : (1984)41CTR(Raj)21; [1984]149ITR487(Raj)

..... it may be pointed out that according to the scheme of the finance acts at the relevant times, income from business, property and other sources were charged to tax at the rate prescribed by the finance act of that year, while salaries, interest on securities and dividends were taxed at the rate prescribed in the finance act of the preceding year. ..... section 2(3)(a) of the finance act of each of the years 1952, 1953, 1954 and 1955 provided that in case the total income of an assesses included income from dividends, in respect of which the assesses himself would be deemed to have paid income-tax imposed under the act by virtue of the provisions of section 49b of the 1922 act, such assessee shall be deemed to have paid income-tax on that part of the total income at a rate applicable to the total income of the assessee in the immediately preceding ..... below :'our 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 computation ..... in united commercial bank ltd. ..... in united commercial bank ltd. v. .....

M/s. D.P. Jain and Company Infrastructure Pvt. Ltd. Vs. Union of India ...

Court : Mumbai

..... the high court of kerala was considering the question as to whether the tribunal was right in holding that the collection of telephone bills by federal bank for bharat sanchar nigam limited, airtel and other companies is not business auxiliary service attributing liability of service tax falling under section 65(19) of the finance act, 1994. ..... the high court held that clause (12) of section 65 covers all charging services rendered by bank. ..... there is no scope for charging tax for this service rendered by bank under any other head. ..... after referring to the definition of the above services, as appearing in the finance act, 1994, it was alleged that the records of the petitioner for the years 2005-06 to 2009-10 were called for by letters and which were replied by the petitioner/assessee. ..... when dealing with particular business or transactions words are, therefore, presumed to be used with the particular meaning in which they are understood in the particular business in question. ..... the argument is that the charging section applies both the clauses, namely section 65(64) and section 65(105) uniformly. mr. ..... if there is no charge or machinery to levy and recover tax on individual or composite works contract, then, none of the arguments of the revenue noted by the hon ble supreme court could have been accepted. 84. mr. .....