Judgment Search Results Home > Cases Phrase: finance act 2006 section 68 amendment of act 32 of 1994 Court: karnataka Page 9 of about 628 results (0.094 seconds)

sri.fatheraj Singhvi, Vs. Union of India

Court : Karnataka

..... in view of the reasons recorded by us hereinabove, when the amendment made under section 200a of the act which has come into effect on 1.6.2015 is held to be having prospective effect, no computation of fee for the demand or the intimation for the fee under section 234e could be made for the tds deducted for the respective ..... bhavan, sector-3, vaishali, ghaziabad, u p -201010 the commissioner of income tax (tds) room no.59, h m t bhavan, 4th floor, bellary road, ganganagar bengaluru -560032 the union of india represented by the secretary ministry of finance department of revenue9room no.128-a, north block, new delhi-110001 ..... advocate for sri.m.lava, advocate) 5 union of india rep by its secretary, ministry of finance, south block new delhi, new delhi-110 001. ..... advocate for sri.m.lava, advocate) and: union of india rep by its secretary, ministry of finance south block new delhi new delhi-110 001. ..... india rep by its secretary, ministry of finance, south block new delhi, new delhi ..... rep by its secretary ministry of finance south block new delhi new delhi- ..... . union of india ministry of finance south block new delhi-110 001 represented by its secretary2 central board of direct taxes department of revenue4h floor, jeevan deep building parliament street new delhi-110 001 ..... union of india ministry of finance south block new delhi-110 001 represented by its secretary2 central board of direct taxes department of revenue4h floor, jeevan deep building, parliament street new delhi-110 001 .....

The Director of Income Tax Exemptions Vs. Al-Ameen Charitable Fund Tru ...

Court : Karnataka

..... required to be applied or accumulated or set apart for application, then, for such purposes be determined without, any deduction or allowance by way of depreciation or otherwise in respect of any asset, acquisition of which has been claimed as an application of income under this section in any previous year, and income the shall 24 (ii) where a trust or an institution has been granted registration under clause (b) of sub-section (1) of section 12aa or has obtained registration at any time under section 12a [as it stood before is amendment by the finance (no.2) act, 1996] ..... reliance is placed on section 11(6) of the act inserted by the finance act no.2, act 14 with effect from 01.04.2015 to contend that the said amendment applies retrospectively being clarificatory in nature. ..... high court of bombay in the case of institute of banking (supra) after placing reliance on the judgment of cit vs muniswarat jain (1994 tlr1084 on an identical issue, held:- in that matter also, a similar argument, as in the present case, was advanced on behalf of the revenue, namely, that depreciation can be allowed as deduction only under section 32 of the income tax act and not under general 18 court rejected it was held this principles. .....

Praxair India Pvt. Ltd. Vs. Commissioner of C. Ex. and S.T.

Court : Karnataka

Reported in : 2010[18]STR257

..... the writ petitioner had sought to explain the considerable delay in preferring the appeal before the tribunal, an appeal under section 86 of the finance act, 1994, by urging that the delay was attributable to the fact that the adjudication order of the commissioner had been served on one priyaranjan at the branch of the petitioner's establishment at jamshedpur and had been engaged through ..... this apart, in relation to the order of the tribunal, an appeal lies to this court in terms of section 35 of the central excise act, 1944 coupled with section 83 of the finance act.12. ..... writ petition by an assessee under the finance act, 1994, directed against the order dated 25-6-2009 [copy at annexure-g] passed in appeal no. ..... delay of about 229 days in preferring the appeal, an appeal against the order in original passed by the commissioner in terms of order dated 15-10-2007 [copy at annexure-d] for getting over levy of tax under the provisions of the finance act, 1994.3. .....

Commissioner of Income-tax Vs. Datacons (P.) Ltd.

Court : Karnataka

Reported in : (1985)47CTR(Kar)162; ILR1985KAR1109; [1985]155ITR66(KAR); [1985]155ITR66(Karn)

..... act, 1961, and the question of law referred is : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is correct in law in treating the assessee either as a manufacturer of goods or as engaged in the processing of goods within the meaning of section 2(7)(c) of the finance (no. ..... union of india [1981] 47 stc 124, wherein it was observed : 'this word has not been defined in the act and it must therefore be interpreted according to its plain natural meaning. ..... therefore any commodity is subjected to a process or treatment with a view to its 'development or preparation for the market', as, for example, by sorting and repacking fruits and vegetables, it would amount to processing of the commodity within the meaning of section 8(3)(b) and rule 13. ..... 2(7)(c) of the finance (no. ..... 2(7)(c) of the finance (no. ..... 2(7)(c) of the finance (no. ..... act of 1922. 9. ..... 2) act, 1977, has to be understood in its plain natural meaning. ..... ) 2) act, 1977, to mean : ''industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining.' 6. ..... 2) act, 1977. ..... 2) act, 1977 ?' 2. .....

Commissioner of Central Excise, Vs. M/S. Godavari Sugrar Mills Ltd.,

Court : Karnataka Dharwad

..... above as per rule 3(4)(e) of the cenvat credit rules, 2004, the 6 cenvat credit may be utilized for payment of service tax on any output services and rule 3(4) of the cenvat credit rules, 2004, read with section 68 of the finance act, 1994, particularly, are referred to and extracted, which read as follows: (4) the cenvat credit may be utilized for payment of- a) any duty of excise on any final product; or b) an amount equal to cenvat credit ..... in view of the specific reference to service tax and the benefit allowed to a service provider, read with the fiction created by section 68(2) of the 8 finance act, 1994, this court is of the opinion that there is no ground to disagree with the judgment and reasoning of the punjab and haryana ..... act, 1944, praying to set aside the final order no.20105/2014, dated 28.1.2014, passed by the honble cestat, bangalore, vide annexure-d and to confirm the demand under show 2 of cenvat recovery cause notice so far as service tax of rs.15,36,051/-, demanding of rs.22,31,610/- along with interest at also proposed for imposition of penalty under section 76 of finance act, 1994 and rule 15(3) of cenvat credit rules, 2004, by the adjudicating authority vide order in original no.11/2006 adc dated 31.10.2006 ..... demanding service tax of rs.15,36,051/- and demanding recovery of cenvat credit of 4 rs.22,31,610/- along with interest and it was also proposed to impose penalty under section 76 of the finance act, 1994 read with rule 15(3) of cenvat credit rules, 2004. .....

Chamundi Granites (P.) Ltd. Vs. Dy. Commissioner of Income-tax

Court : Karnataka

Reported in : [1999]106TAXMAN364(Kar)

..... in respect of- dividends distributed in excess of the specified thereunder claries (h) of the proviso to paragraph b of part 1 of the first schedule to the finance act, 1951 as applied to the assessment year 1953-54 by the finance act, 1953 was held not a valid charge, since the finance act, 1951 did not lay down that it should be treated as a part of the total income.the lender and borrower have not been similarly treated and, ..... section 269ss was inserted by the finance act, 1984 with effect from 1-4-1984 and was made operative from 1-7-1994 ..... any loan or deposit taken or accepted by, the following namely(a) government;(b) any banking company, post office savings bank or any co-operative bank;(c) any corporation established by a central, state or provincial act;any government company as defined in section617of the companies act, 1956;(d) such other institution, association or body or class of institutions, associations or bodies which the central government may, for reasons to be recorded in writing, notify in this behalf in the ..... with a view to circumventing this device, which enables tax payers to explain away unaccounted cash or unaccounted deposits, the bill seeks to make a new provision in the income tax act debarring persons from taking or accepting, after 30-6-1984, from any other person any loan or deposit otherwise than by an account payee cheque or account payee bank draft if the amount ..... time of moving the amendment in the act by the finance act, 1984, the following .....

D.C. Shah Vs. Commissioner of Wealth-tax, Mysore

Court : Karnataka

Reported in : [1979]117ITR348(KAR); [1979]117ITR348(Karn); 1978(2)KarLJ30

..... 68 of the finance act does not impose a new charge but only provides that: 'the disclosure envisaged under section 68 is in respect of an amount which is already liable to be assessed as income under the relevant income-tax act. ..... section 68 of the finance act, 1965, provides that where any person makes a declaration in accordance with sub-s ..... 68 of the finance act, 1965, was a special provision to compound the income-tax liability in respect of an income which an assessee might choose to disclose under the scheme envisaged by it and that, by such a disclosure, an assessee did not incur a liability to pay any tax under the that section. ..... act, though at a rate different from the usual rates prescribed by the relevant finance act. ..... act of 1961, read with the relevant finance act on the amount which is income in the hands of the assessee which would have been subject to income-tax if he had disclosed it during the relevant years ..... act, 1961, read with the finance act, 1965 ..... 68 of the finance act, 1965, is deemed to be the income of the person who makes the declaration and what is paid to the government is the income-tax ..... 68 of the finance act, 1965, was not a debt owned by the assessee on the valuation date for the purpose of determining the net wealth under the ..... 68 of the finance act, 1965, and the annexure thereto themselves contain the material on which reasonable belief could be entertained by the wto that some wealth which was assessable to tax had been withheld from the knowledge of .....

Chamundi Granites P. Ltd. Vs. Deputy Commissioner of Income-tax and an ...

Court : Karnataka

Reported in : (1999)157CTR(Kar)128; [1999]239ITR694(KAR); [1999]239ITR694(Karn)

..... at the time of moving the amendment in the income-tax act by the finance act, 1984, the following notes on clauses were given (see [1984] 146 itr 162) :'22 ..... or accepted from, or any loan or deposit taken or accepted by, the following, namely : (a) government ; (b) any banking company, post office savings bank or any co-operative bank ; (c) any corporation established by a central, state or provincial act; (d) any government company as defined in section 617 of the companies act, 1956 ; (e) such other institution, association or body or class of institutions, associations or bodies which the central government may, for reasons to be recorded in writing, notify in this behalf in the official gazette. 25. ..... section 269ss was inserted by the finance act, 1984, with effect from april 1, 1984, and was made operative from july 1, ..... even learned counsel for the petitioner could not seriously challenge that the prohibition contained in section 269ss, if it is otherwise valid, is not likely to achieve the object for which the said provision is ..... petitioner was assessed for the year 1991-92 on february 21, 1994, and proceedings under section 271d were initiated levying penalty of rs. ..... union of india : [1995]211itr157(guj) has held the provisions of section 269ss valid and came to the conclusion that the transaction of loan or deposit involves two persons, a borrower and a lender, and both can be similarly situated so far as the transaction of borrowing or deposit is concerned, when it comes .....

Commissioner of C. Ex. and Stc Vs. First Flight Couriers Ltd.

Court : Karnataka

Reported in : (2007)213CTR(Kar)550; 2007[8]STR225; [2008]12STT127; (2008)18VST282(Karn)

..... question of law by the appellant is that the appellate authority while exercising its appellate jurisdiction overlooked the statutory provision of section 76 of the finance act and not considered the finding and reason recorded by the original authority holding that the assessee is not entiled to get any exemption under section 80 of the income-tax act (sic - finance act, 1994) as the explanation offered by him that during the period from october 1998 to may 1999 the workmen were on strike ..... therefore, the respondent was (no) liable to pay the penalty amount as imposed by the assessing authority in view of section 80 of the income-tax act (sic-finance act, 1994) and further it is contended that the second appellate tribunal after considering the rival legal contentions and referring to the decisions of the apex court in the case of hindustan steel ltd. v. ..... , bangalore, is questioned in this appeal by the appellant urging various legal grounds in support of the substantial question of law framed in this appeal and prayed to answer the same in favour of the revenue, which reads thus,-whether section 76 of the finance act, 1994 relating to service tax to be read as the penalty which shall not be less than rs. ..... preventing the party form depositing the tax and reduce the penalty and also further placed reliance upon another decision of the commissioner of central excise delhi-i in the case of oriental insurance co limited reported in 2006 (2) s.t.r. .....

Y. Venugopala Reddy Vs. Commissioner of Income Tax and anr.

Court : Karnataka

Reported in : (2003)183CTR(Kar)260

..... consideration and decision is whether the sum of money paid by the appellant under section 140a of the act towards the tax arrears (which includes the income-tax and interest payable) should be taken as payment towards tax or towards interest, for the purpose of the scheme in order to find an answer to the above question it will be profitable to notice first the relevant provisions of the scheme contained in the finance act, as also the clarification given by the cbdt. 9. ..... 'disputed income' in relation to an assessment year, is defined in clause (e) of section 87 of finance act as 'whole or so much of the total income as is relatable to the disputed ..... the effect of section 88(a)(iii) of finance act is that notwithstanding anything contained in the act, the amount payable under the scheme by a declarant (other than companies and firms), who files declaration between 1st ..... the same scheme is contained in chapter-iv of the finance act and consisted of sections 86 to 98 (both inclusive) as also a schedule ..... the appellant estimated the cost of construction upto 31st march, 1994, (previous year ending date for asst. yr. ..... 1994-95 and 1995 ..... 19th march, 1998, assessing the total amount payable for 1994-95 as rs. ..... 1994-95 and 1995 ..... , 1994, against the interest demand of rs ..... 1994-95. ..... 1994-95) at ..... 1994 ..... the construction period was from the middle of 1961 to the end of september, 1994. ..... 1994-95, the appellant had constructed a choultry named as 'agn kalyana mantapa' at bannerghatta road, arakere village .....