Judgment Search Results Home > Cases Phrase: finance act 2007 section 107 amendment of section 127k Court: karnataka Page 11 of about 1,413 results (0.128 seconds)

M/s. Rajnandini Foods Pvt. Ltd., Vs. Union Of India

Court : Karnataka Dharwad

..... p. no.101916 of 2021 14. the next question that arises for consideration is whether when excise duty is exempted, can nccd be leviable under the provisions of section 136 of the finance act, 2001?.15. as mentioned above, nccd is a surcharge of the excise duty. the case of the petitioners is that, when excise duty is not levied, ..... no.101969 of2020 w.p. no.123492 of2020 w.p. no.146879 of2020 w.p. no.101375 of2021& w.p. no.101916 of 2021 d. declare that section 136 of the finance act 2001 under which there is a levy and collection of national calamity contingent duty (nccd) as unconstitutional. e. in the alternative and without prejudice to prayer (d ..... 2017, exemption from levy of excise duty was granted to tobacco and tobacco products. however, nccd was continued to be levied on tobacco and tobacco products under section 136 of the finance act, 2001. thereafter, by notification bearing no.3/2019 dated 06.07.2019, excise duty has been sought to be levied on various tobacco and tobacco products .....

Y. Venugopala Reddy Vs. Cit

Court : Karnataka

Reported in : [2003]130TAXMAN224(Kar)

..... 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. the relevant portion of section 88 of the finance act relating to settlement of tax payable reads as follows :'88. settlement of tax payable.subject to the provisions of this ..... the last date for making a declaration under the scheme was extended from 31-12-1998 to 31-1-1999. 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 1-9-1998 and 31 ..... was the 'disputed income' when the declaration was filed by the appellant.11. 'disputed income' in relation to an assessment year, is defined in clause (e) of section 87 of the finance act as 'whole or so much of the total income as is relatable to the disputed tax.' 'disputed tax' is defined by clause (p of .....

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

Court : Karnataka

Reported in : ILR2000KAR2743; [2000]245ITR661(KAR); [2000]245ITR661(Karn)

..... under clause (ii) of the proviso to paragraph b of part i 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, on the ground that the finance act, 1951, did not lay down that it should be treated as a part of the total income.18 ..... well as the test prescribed by article 301.'20. in attar singh gurmukh singh v. ito : [1991]191itr667(sc) , the supreme court considered the constitutional validity of section 40a(3) of the act which provided that expenditure in excess of rs. 2,500 (rs. 10,000 after the 1987 amendment) would be allowed to be deducted only if made by a ..... the meaning assigned to it in part v of the banking regulation act, 1949. the expression 'loan or deposit', for the purposes of the proposed provision, would mean loan or deposit of money.' from the perusal of the speech of the finance minister it is clear that the object of section 269ss is to curb the evasion of tax. on the experience .....

Chamundi Granites (P) Ltd. Vs. Deputy Commissioner of Income Tax and a ...

Court : Karnataka

Reported in : (2000)162CTR(Kar)129

..... under clause (ii) of the proviso to para b of part i 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, on the ground that the finance act, 1951 did not lay down that it should be treated as a part of the total income.16. ..... as well as the test prescribed by art. 30 1. '18. in attar singh gurmukh singh etc. v. income tax officer supreme court considered the constitutional validity of section 40a(3) of the act which provided that expenditure in excess of rs. 2,500 (rs. 10,000 after the 1987 amendment) would be allowed to be deducted only if made by a ..... have the meaning assigned to it in part v of the banking regulation act, 1949. the expression 'loan or deposit' for the purposes of proposed provision, would mean loan or deposit of money. '21. from the perusal of the speech of the finance minister it is clear that object of section 269ss is to curb the evasion of tax. on the experience gained .....

Mangilal S. JaIn Vs. Cit and anr.

Court : Karnataka

Reported in : (2002)175CTR(Kar)347

..... under the scheme.3. first respondent did not accept the computation made by the appellant. he issued a certificate of intimation dated 19-2-1999, under section 90(1) of the finance act, in regard to the declaration filed by the appellant. in the said certificate, the first respondent showed the tax arrear for the assessment year 1995-96 ..... mentioned that the last date for making a declaration was extended from 31-12-1998, to 31-1-1999. the effect of section 88(a)(iii) of finance act is that notwithstanding anything contained in the income tax act, the amount payable under the kvs scheme by a declarant (other than companies and firms), who files declaration between 1-9 ..... the 'kvs scheme' , was brought into force on 1-9-1998, as per chapter iv of finance (no. 2) act, 1998 (hereinafter referred to as 'the finance act' ). the appellant filed a declaration under the said scheme, under section 89 of the said act in form no. 1a. in the said declaration filed on 27-1-1999, he showed the computation .....

Premier Associates Vs. The Assistant Commissioner of Service Tax,

Court : Karnataka

..... service tax & others. date of order 28-11-2017 w.p.no.3824/2016 5/16 form vces-1 dated 31-12-2013, in terms of section 106(2) read with section 106(1) of finance act, 2013 (17 of 2013), chapter vi, service tax voluntary compliance encouragement scheme, 2013. 2. mr.sunil p. prasad, the learned counsel for the ..... december 2012, which was due and not paid as on 1st march 2013, was required to be paid by the petitioner and that no notice or order of determination under section 72 or section 73 or section 73a of ..... petitioner submitted that clause 105(e) and clause 106 of the finance act, 2013 (act) of vces, 2013 only stipulates that the tax due for the period from 1st october 2007 to 31st .....

Bangalore International Airport Limited Vs. Karnataka Information Comm ...

Court : Karnataka

Reported in : ILR2010KAR3214

..... greater "operational and managerial independence" as stated in the statement of objects and reasons of 2003 amendment act. insofar as importing the definition of substantial funding as stated in section 14 of the cag act is concerned, he submits that the said definition of "substantially financed or controlled" would operate in different fields and the commission cotdd not have relied on the said definition ..... companies, sales tax dealers amongst others will have to give information under the rti act. such a wide interpretation is not clearly intended in the law.21. thus now consider what are the implications of the words substantially financed*. it is obvious that as per section 2(h)(i) "body substantially financed' would be a body where the ownership may not lie with the government .....

The Commissioner of Income-tax and the Assistant Commissioner of Incom ...

Court : Karnataka

Reported in : (2009)226CTR(Kar)474

..... context of the law as it existed prior to its amendment in the year 1987. finance act of 1987 having expressly and with definite purpose brought about the amendment to income tax act reintroducing sub-sections (3) and (4) to section 45 of the act, the tribunal should have examined the appeal before it more by applying the statutory provisions ..... 4-1988 and so on and so forth.17. while this position continued for some time by the finance act of 1987 section (3) and (4) were reintroduced with effect from 1-4-1988 and simultaneously clause (ii) of section 47 was omitted.18. the division bench of bombay high court in the case of a.n. naik ..... was introduced to take out certain transactions which otherwise are transfers of capital assets and otherwise taxable under section 45, from being taxed.22. on the reintroduction of sub-section (3) and (4) by the finance act 1987 clause (ii) of section 47 has been expressly omitted removing the protective umbrella. the legislative intent is quite clear and in .....

Micro Labs Ltd. and ors Vs. Deputy Commissioner of Income-tax and ors.

Court : Karnataka

Reported in : (1998)144CTR(Kar)174

..... . 755, dt. 25th of july 1997 issued by the cbdt to the extent they preclude the petitioners from availing the benefit under sub-s. (1) of s. 64 of the finance act in the year of search or any earlier years as discriminatory, arbitrary and unreasonable and opposed to art. 14 of the constitution of india and consequently to direct the respondents ..... -cls. (i) and (ii) of sub-s. (2). in these petitions we are concerned with cl. (ii) of sub-s. (2) of s. 64 of the act, which reads as hereunder :'(2) nothing contained in sub-section(1) shall apply in relation to(i) ...........................(ii) the income in respect of the previous year in which a search under s. 132 of the ..... ' cannot be read as limiting it to the survey conducted under s. 133a of the act. in my view, there is absolutely no scope to read or understand the section as indicated by sri sarangan holding that in cases falling under ss. 132 and 132a of the act, the persons are not denied of the benefit of the scheme in respect of the .....

Micro Labs Ltd. and Others Vs. Deputy Commissioner of Income-tax (Asse ...

Court : Karnataka

Reported in : ILR1998KAR3784; [1998]231ITR934(KAR); [1998]231ITR934(Karn)

..... , 1997, issued by the central board of direct taxes to the extent they preclude the petitioners from availing of the benefit under sub-section (1) of section 64 of the finance act in the year of search or any earlier years as discriminatory, arbitrary and unreasonable and opposed to article 14 of the constitution of india ..... previous year.' 4. in these petitions, the petitioners have made two prayers. firstly, they have prayed for a declaration that clause (ii) of sub-section (2) of section 64 of the finance act, 1997, is unconstitutional; and, secondly, for a writ in the nature of certiorari declaring the circulars bearing no. 754 (see [1997] 226 itr ..... , some records belonging to the petitioners also have been seized. 3. chapter iv of the finance act, 1997, provides for the voluntary disclosure of income scheme (hereinafter referred to as 'the scheme'). sub-section (1) of section 64 of the finance act (chapter iv) provides that subject to the provisions of the scheme, where any person makes, .....