Judgment Search Results Home > Cases Phrase: finance act 2007 section 107 amendment of section 127k Court: mumbai Page 8 of about 563 results (0.212 seconds)

West End Hotel (P) Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... legal position. it is an undisputed position of law that income-tax is charged at the rates specified by the relevant finance act as per the provisions of section 2(37a) of the act. section 2 of the finance act has specified the manner of computation of tax in two ways i.e., one as per rates specified in part 1 ..... on dividend tax and interest thereon though there was no provision for levy of surcharge on dividend tax under section 115-o for the year under consideration particularly when the levy of surcharge was expressly provided by the finance act, 2000 with effect from 1-4-2000.12. the facts in brief are that the assessing officer passed ..... specific circumstances, as the case may be section 2(4) of the finance act, 1997 specified the liability to pay additional tax at the rate specified in section 115-o and there was no provision for payment of surcharge. section 2(4) of finance act, 2000 provided for payment of tax at the rate specified in section 115-o as increased by surcharge @ .....

Narangs Hotels (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)74ITD190(Mum.)

..... departmental representative, shri deepak tralshawala, opening his arguments, first referred to the definition of "industrial company" as given in s. 2(8)(c) of the finance act, 1974, which is relevant for the assessment year under consideration. it reads as follows : "industrial company" means a company which is mainly engaged in the ..... therefore, we hold that the assessee's separate catering unit satisfied the requirement of s. 80j(4)(iii) of the act and the assessee's claim for relief under s. 80j allowable". "(4) this section applies to any industrial undertaking which fulfils all the following conditions, namely : (iii) it manufactures or produces articles, ..... goods which in the ordinary course would not tantamount to or be regarded as "manufacture". the word "processing" has not been defined in the it act or the relevant finance act. according to the new webster's dictionary of the english language (encyclopaedic edition), "process" means "to treat or prepare by some particular process; .....

Asstt. Cit, Range 10(1) Vs. Citicorp Finance (India Ltd.)

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)108ITD457(Mum.)

..... with effect from assessment year 2006-07.9. section 14a has been inserted in the income tax act, section 11 of the finance act, 2001, with retrospective effect from 1-4-1962, i.e., for and from assessment year 1962-63. section 14a has been amended by section 10 of the finance act, 2002 and again by section 7 of the finance act, 2006. section 14a as so amended reads now as under ..... assessment year beginning on or before the ist day of april, 2001. (*inserted as section 14a (without numbering) in the income tax act by the finance act, 2001 with retrospective effect from 1-4-1962.** inserted by the finance act, 2006 and consequently all the clauses of section 14a were numbered. -inserted by the finance act, 2002.) 10. in the matter before us, we are not concerned with the .....

Ethnor Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1990)35ITD268(Mum.)

..... down by the supreme court in mahindra & mahindra ltd.'s case (supra), would apply with equal force. the result would be that the amendment by the finance act to section 2(18) which took effect from 2-4-1983 would notbeavailable to the department for determining whether a company is a company in which the public are substantially ..... expression "company in which public are substantially interested" is a definition by incorporation, the same should be given the meaning as on 1-4-1983 when section 40 of the finance act came into force, has to be rejected. the company in which public are substantially interested has to be a company which is so on the relevant valuation ..... only from 2-4-1983. even so, the amended definition would govern the chargeability of a company to wealth-tax, in terms of the provisions of section 40 of the finance act, 1983. as on the valuation date thecompany was one in which the public were not substantially interested as per the new definition given to that expression, .....

Byramshaw K. Illava, in Re.

Court : Mumbai

Reported in : AIR1944Bom143; [1944]12ITR358(Bom)

..... only machinery whereby such a rate could be ascertained was the machinery set up by section 17 of the amended act; and, according to mr. setalvad, as under the finance act by section 6, sub-section (5), section 17 of the amended income-tax act has not to be taken into consideration in determining the rates of super-tax applicable ..... shareholder in that year.' now, that has to be read for the present purpose in conjunction with the finance act of 1939, section 6 (4) (b), which provides :-'(4) notwithstanding anything contained in sub-section (1) or sub-section (2) where more than half of the total income of any individual or hindu undivided family consists of ..... the rates applicable for the year 1938.the income-tax officer rejected the assessees claim that his case fell under section 6(4) (b) of the finance act, but in appeal the assistant commissioner thought that the section covered the case, and from his decision the commissioner of income-tax appealed to the tribunal, and the tribunal .....

Transpek Inds. Ltd. Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2006)STR167

..... be directed to deposit the amounts of tax together with interest.7. i have carefully considered the rival submissions. the basic issue as to whether section 117 of the finance act, 2000 empowers demands and collection of service tax from those who availed of goods transport service, cannot be determined at this interim stage and will ..... shall be deemed to be valid and always to have been valid for all purposes, as validly and effectively taken or done". he submits that section 116 of the finance act, 2000 specifies that "an 'assessee' means a person liable for collecting the service tax and includes every person who pays or is liable to ..... of central excise directed issue of notices for revision of the orders of the dy. commissioner, in view of the retrospective amendment of service tax rules by section 117 of the finance act, 2000, which states that 'notwithstanding anything contained in any judgment, decree or order or any court, tribunal or other authority, sub-clause (xii) and .....

Modern Denim Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... the fresh levies imposed retrospectively in the year 2000. we also find that the larger bench has not taken into consideration the provisions under clause (c) of section 109 of the finance act, 2000 authorising recovery of duties levied with retrospective effect.10. as such, we are of the considered view that he decision of the larger bench in the ..... payment of additional duty on goods of special importance.7. shri m.k. gupta, learned jt. c.d.r. also argues that in view of clause (c) of section 109 of the finance act, 2000, recovery is required to be made of all such duties of excise which have not been collected as if the amendment made by the ..... determined in accordance with the provisions of the customs act, 1962 (52 of 1962) and the customs tariff act, 1975 (51 of 1975)." 2. after the amendment made by the finance act, 2000 retrospectively w.e.f. 11/05/1982, the said proviso to section 3(1) of the central excise act, 1944 read as under:- "provided that the duties of excise which .....

Petrosil Oil Company Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Reported in : [1999]236ITR220(Bom)

..... a domestic company. a combined reading of sub-paragraph i of paragraph f of the first schedule to the finance act, section 2(6) (a) of the finance act and clauses (a) and (b) of section 108 of the income-tax act makes it abundantly clear that the expression 'company' referred to therein means only a domestic company and no other ..... interested, and (2) not a company in which the public are substantially interested. 'domestic company' has again been defined in clause (b) of sub-section (6) of section 2 of the finance act to mean, (i) an indian company, (ii) or any other company which, in respect of its income is liable to pay income-tax under ..... company in which the public are substantially interested, and (2) not a company in which the public are substantially interested. 8. under section 2(6) (a) of the finance act read with section 108 of the act, a company in which the public are substantially interested also includes 'a subsidiary company of such company if the whole of the share capital .....

Punj Lloyd Ltd. Vs. Bharat Petroleum Corporation Ltd.

Court : Mumbai

..... commercial addendum no.1 much prior to the date of submission of the bid. 27. learned counsel appearing for the respondent submits that much after the said section 88 of finance act, 2005 came into force as per the said notification on 16th june, 2005, there was a price negotiation between the parties on 8th september, 2005 with ..... and conditions of the said detailed letter of acceptance. 35. it is not in dispute that the work awarded to the petitioner was completed on 15th april, 2007 and during this period, the petitioner themselves had submitted various running account bills upon the respondent based on the quantum of the work carried out by the ..... respondent settled the bills after due certification by the said project management consultant. the said work awarded to the petitioner was completed on 15th april, 2007. 7. on 14th june, 2007, the petitioner raised a demand for reimbursement of service tax alleged to have been deposited with the statutory authority in view of clause 22 of the .....

Retailers Association of India and ors. Vs. Union of India and ors.

Court : Mumbai

..... services" referred to in clause (105) of section 65. among the taxable services is the taxable service in sub-clause (zzzz), to which the constitutional challenge in these proceedings relates. sub-clause (zzzz) was initially inserted by the finance act of 2007 with effect from 1 june 2007. taxable service was defined to mean "any service ..... provided or to be provided": "to any person, by any other person in relation to renting of immovable property for use in the course or furtherance of business or commerce." the expression "renting of immovable property" was defined in clause (90)(a) of section ..... court is to the constitutional validity of the imposition of a service tax under sub- clause (zzzz) of clause (105) of section 65 read with section 66 of the finance act of 1994 as amended. submissions: 4. the submissions which have been urged before the court by counsel appearing on behalf of the .....