Judgment Search Results Home > Cases Phrase: finance act 2007 section 107 amendment of section 127k Court: chennai Page 5 of about 356 results (0.106 seconds)

Cwt Vs. B.R. theatres and Industrial Concerns (P) Ltd.

Court : Chennai

Reported in : [2004]135TAXMAN371(Mad)

..... trade of the assessee was not exempt from wealth-tax.5. the view taken in all the aforementioned cases is that the amendment effected to section 40 of the finance act, 1983 by the finance act of 1988 is only prospective and not retrospective.6. learned counsel for the assessee here, despite those decisions, sought to contend that the ..... assessment years are 1984-85 to 1988-89.2. the assets referred to in the question are admittedly assets which fall within the scope of section 40(3) of the finance act, 1983. the ground on which the assessee contend that the value of the assets should not be taken into account for determining the assessees liability ..... hardship the later amendment should be regarded as forming part of the originally enacted law. in that case the court while considering section 43b of the act and the amendment effected thereto by the finance act, 1987, which inter alia inserted a new proviso as also an explanation held that as the explanation was given retrospective effect, .....

The Commissioner of Wealth-tax Vs. B.R. theatres and Industrial Concer ...

Court : Chennai

Reported in : (2004)188CTR(Mad)63; [2005]272ITR177(Mad)

..... trade of the assessee was not exempt from wealth tax. 5. the view taken in all the aforementioned cases is that the amendment effected to section 40 of the finance act, 1983 by the finance act of 1988 is only prospective and not retrospective. 6. learned counsel for the assessee here, despite those decisions, sought to contend that the ..... assessment years are 1985-85 to 1988-89.2. the assets referred to in the question are admittedly assets which fall within the scope of section 40(3) of the finance act 1983. the ground on which the assessee contend that the value of the assets should not be taken into account for determining the assessee's ..... hardship the later amendment should be regarded as forming part of the originally enacted law. in that case the court while considering section 43b of the act and the amendment effected thereto by the finance act, 1987, which inter alia inserted a new proviso as also an explanation held that as the explanation was given retrospective effect, .....

Commissioner of Income-tax Vs. Wheel and Rim Company of India Ltd.

Court : Chennai

Reported in : [1977]107ITR168(Mad)

..... reference of the question extracted already.5. for the purpose of understanding the point involved it is necessary to refer to the statutory provisions in this behalf. the finance act of 1966 by section 2(5)(a)(i) provided as follows :'2. (5)(a) in respect of any assessment for the assessment year commencing on the 1st day of april, 1966 ..... assessment year 1966-67, the assessee claimed rebate on the value of exported goods and on the two receipts referred to above based on the provisions of section 2(5)(a) of the finance act, 1966. according to the assesseee, the net profit on exports had amounted to rs. 90,986 arrived at as follows and rebate was admissible thereon ..... is the combined effect of these provisions. in the first place, it is worthwhile pointing out that by virtue of section 2(5)(d) of the finance act, 1966, the profits and gains derived from the export mentioned in section 2(5)(a)(i) have necessarily to be computed in accordance with the rules made by the board in this behalf .....

The Commissioner of Income-tax Vs. A.K. Khosla

Court : Chennai

..... article 20(1) of the constitution of india. in paragraphs 53 to 56 it has been held as follows:it may be noted that the amendment made to section 271 by the finance act, 2002, only stated that the amended provision would come into force with effect from april 1, 2003. the statute nowhere stated that the said amendment was either ..... clarificatory in nature and it takes effect retrospectively. 11. the apex court, in the case of virtual soft systems ltd. v. commissioner of income-tax reported in : (2007) 289 itr 83, has considered the scope of interpretation of statute and held that there is no assumption as to the retrospectivity of an amendment. retrospectivity has to be enacted ..... raja, j.1. the appellant/revenue has filed the above tax case appeal against the order of the income tax appellate tribunal, 'a' bench, chennai, dated 27.04.2007 in ita. no. 1862/mds/2004. 2. when the appeal came up for admission on 09.03.2010, this court admitted the same on the following substantial questions of .....

Indian Institute of Architects Vs. Union of India (Uoi)

Court : Chennai

Reported in : (2002)175CTR(Mad)449; 2002(139)ELT245(Mad); [2002]258ITR209(Mad); 2006[2]STR393; [2007]6STT112

..... are exempted from this tax. therefore, it cannot be said that there is any confusion regarding the taxable services. in our opinion, the notification issued under section 93 of the finance act no. 32 of 1994 specifying that other services excepting the one for accounting and auditing is a complete answer to the argument of the learned counsel. it ..... at five per cent of the value of the taxable service provided to any person by the architects or the chartered accountants. section 116 of the finance act no. 2 of 1998 is in challenge, as amended by act 32 of 1994, and has first defined the said services and included them in the tax-net. the relevant portions of the ..... laghu udyog bharati v. union of india, points out that section 66, which is a charging section, has to be read with section 65(d)(41) [now section 65(48)]. in paragraph 8, the supreme court says it is clear from the reading of these provisions that according to the finance act, the charge of the tax is on the person who is .....

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

Court : Chennai

Reported in : (2008)1MLJ844

..... ltd. v. union of india. as a proposition of law, this cannot be and is not disputed. 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, 1994 ..... regulatory commission in its tariff order to similar consumer.explanation ii.- 'other charges' shall include demand charge and power factor surcharge;the above said sub-section is substituted by act 38 of 2007, in the following words.2(7). 'consumption charge' means the amount charged by a licensee for the supply of electricity to a consumer before ..... of electricity tax on demand charges. the supreme court in the said case, viz., southern petrochemical industries co.ltd. v. electricity inspector and e.t.i.o. 2007 (3) ctc 273 (sc) has clearly held that there exists distinction between actual consumption and maximum demand. the supreme court has also held that what is permissible for .....

Commissioner of Income-tax Vs. Commercial Laws of India Pvt. Ltd.

Court : Chennai

Reported in : [1977]107ITR822(Mad)

..... out that the question as framed by the tribunal does not bring down the real controversy. as pointed out already, the expression 'industrial company' as defined by section 2(6)(d) of the finance act, 1968, refers to 'manufacture' or 'processing' of goods. in the question as framed, the expression 'manufacture' alone has been used. the question has, ..... ,000--55 per cent. (b) on the balance, if any, of the total income--60 per cent...' the expression 'industrial company' as defined in section 2(6)(d) of the said finance act is as follows i ' 'industrial company' means a company which is mainly engaged... in the manufacture or processing of goods ...' 2. the income-tax ..... which were later on despatched to the subscribers. this, in our opinion, would constitute 'processing of goods' so as to come within the scope of section 2(6)(d) of the finance act, 1968. consequently, the question which we have refram-ed is answered in the affirmative and against the revenue. there will be no order as to .....

Madurai District Central Co-operative Bank Ltd. Vs. Third Income-tax O ...

Court : Chennai

Reported in : [1969]73ITR479(Mad)

..... society in respect of profits and gains of business carried on by it, this exemption being subject to certain conditions. section 2(1)(a)(ii) of the finance act, 1963, states that, subject to the provisions of the other sub-sections, for the assessment year commencing on the 1st day of april, 1963, income-tax shall be charged at the ..... and this is not actually disputed by counsel for the petitioner--the income which was exempt from tax under section 81 had formed part of the total income of the previous year. there was no need, therefore, for the finance act to make any deeming provision making what was not the income of the previous year as such income by ..... -tax. the point is also put slightly in a different way, viz., the finance act cannot validly subject to additional surcharge an income, which, under the provisions of the income tax act, was exempt and not liable to charge. section 4 of the income-tax act charges the total income of the previous year or previous years of every person at .....

Avm Studio Represented by Its Partner, M. Saravanan Vs. the Union of I ...

Court : Chennai

Reported in : (2008)217CTR(Mad)267; [2008]13STJ305(Madras); 2008[10]STR353; (2008)13VST201(Mad)

..... rs. 44,26,741/- being the service tax including educational cess as per the proviso to section 73(1) of the finance act 1994 and failure would also result in imposition of interest and penalty. instead of replying to the show cause notice, the appellant has filed the writ petition.5 ..... details of service tax paid, if any, by them.3. the appellant filed a reply dated 17.8.2007 denying that they are involved in any video production and they are not video production agency in terms of section 65(119) of the finance act 1994.4. in the show cause notice, it was stated that the appellant has not paid any service tax ..... the scope of taxable services in terms of video tape production, in any manner. it was also stated that the appellant have suppressed the facts and contravened sections 67 and 68 of the finance act 1994. in the light of the same the appellants were directed to show cause within thirty days as to why they should not be charged a sum of .....

M/S. Mohan Breweries and Distilleries Ltd. and Another Vs. Commissione ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... of 15% ad valorem as paid by them. there was a retrospective amendment of notification no.14/97-ce(nt), dated 03.05.1997 by section 87 of the finance act, 1997. as per section 87 of the finance act, 1997, the restriction of credit of duties paid on the specified petroleum products as per notification, dated 03.05.1997, used as inputs in ..... assessee proposing to demand of an amount of rs.7,60,566/- along with interest as per notification no.14/97-ce(nt), dated 03.05.1997 and section 87 of finance act, 1997. adjudicating authority confirmed the demand of rs.7,60,566/- along with interest being excess credit availed for the period 23.07.1996 to 03.05.1997 ..... court at para14 of the said decision observed that the restriction 10% ad valorem would apply in the entire material period as referred to in section 87 of the finance act, 1997. she further submits that section 57d would apply in the context of credit of duty not to be denied or varied in certain circumstances. it is submitted that the .....