Court : Allahabad
Reported in : [1966]61ITR704(All)
..... pay is to be deemed to bed in default. when an assessee is in default the income-tax officer is authorised to impose a penalty. under section 3 income-tax is charged for a particular year when the finance act enacts that it shall be charged for that year at a certain rate. the effect of the passing of the ..... amount as income-tax before a notice of demand under section 29 is issued. obviously, a certain sum can become payable only when it is determined. the chargeability to tax arises, however, on the passing of the finance act. thus an individual becomes chargeable to income-tax on the finance act being passed and becomes liable to pay a certain amount ..... the right came into existence as soon as according to the relative finance act it became ascertainable that the tax deducted at source or treated as paid on its behalf had exceeded the tax payable. that right, therefore, was an asset contemplated in section 7 of the act of 1956.'the question before the supreme court was not what is the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 2009(3)MPHT356
..... order dated 29-4-2006 had expressed the opinion that the said service tax is recoverable from the service provider under section 65 (76-b) the provisions of the finance act on the packaging activities as inserted by finance act, 2005 and further service provider can pass on the liability to the retail contractors and accordingly dismissed the writ petition in ..... distorted, the very functioning of the writ courts would become impossible.(emphasis supplied)30. in raj kumar soni and anr. v. state of u.p. and anr. : (2007) 10 scc 635, it has been ruled thus:11. ... it is a fundamental principle of law that a person invoking the extra-ordinary jurisdiction of the high court ..... . and ors. v. owners & parties, vessel m.v. fortune express and ors. : (2006) 3 scc 100.29. in prestige lights ltd. v. state bank of india : (2007) 8 scc 449, it has been held as under:33. ...the high court is exercising discretionary and extra-ordinary jurisdiction under article 226 of the constitution. over and above, a .....
Tag this Judgment!Court : Uttaranchal
Reported in : (2004)186CTR(Uttranchal)144; [2003]264ITR320(Uttaranchal)
..... contracts regarding on period and off period salary were conflicting. ultimately, the legislature has stepped into clarify the position by the finance act of 1999. in this connection, it is important to note that section 234b imposes interest, which is compensatory in nature and not as a penalty (see union home products ltd, v. union ..... his services in india. in this connection it may be noted that the explanation to section 9(1)(ii) introduced by the finance act of 1983 refers to what constitutes 'income earned in india'. this explanation was introduced by the finance act of 1983, with effect from april 1, 1979, to get over the judgment of ..... assessee further argued that his interpretation finds support from the substituted explanation introduced by the finance act of 1999. it was further argued that the non-resident company (employer) is taxable on notional profits under section 44bb of the act and therefore there is no question of that company claiming deduction in respect of salary .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1967SC795; [1967]63ITR300(SC); [1967]1SCR777
..... could not be included in the expression 'dividend' : see sheth haridas achratlal v. commissioner of income-tax, bombay north, kutch and saurashtra, baroda : [1955]27itr684(bom) . by the finance act, 1955, the proviso to clause(c) was deleted and in consequence thereof the limitation relating to the period during which the profits were accumulated ceased to apply in the determination ..... comes out of that source or not is not a question dependent on s. 2(6a)(c) - s. 2(6a)(c) declares that though under law, apart from the section, it would be capital and, therefore, not chargeable, it shall be regarded as dividend and taxed as such in the hands of the shareholders.' 10. bakshi, j., substantially ..... if it is capable of being considered as dividend must be so held to be so.' shelat c.j. opined that s. 2(6a)(c) is not a charging section which levies tax on a particular fund from out of which a limited fund is carved out by the proviso. the learned chief justice observed : 'the legislative intent is .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1998SC2463; JT1998(5)SC1; 1998(4)SCALE200; (1998)6SCC153; [1998]3SCR806
..... duty. what is meant by the phrase 'in which deceased never had an interest'? the language of section 34(3) is similar to the language of section 4 of the english finance act of 1894 as amended by the finance act of 1900. section 4 of the finance act, 1894 is as follows:'for determining the rate of estate duty to be paid on any property passing ..... . he also made certain other settlements under none of which there was any chance of anything accruing to the settlor. the court, in examining the application of section 4 of the finance act of 1894 to decide whether the amount under the settlement could be aggregated with the other estate of the deceased-settlor, formulated a test to decide when it ..... his son. to the extent of the income from the free hold, premiums thereafter were paid by the son from such income. the premiums so paid were, by the finance act, 1939, section 30, attributed to the settlor. the settlor died and his son received under the policy 48,765. the court, for the purposes of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2000)160CTR(SC)8; [2000]243ITR48(SC)
..... of cash compensatory support became taxable retrospectively with effect from april 1, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. levy of additional tax bears all the characteristics of penalty. additional tax was levied as the ..... assessment year 1989-90 a sum of rs. 1,31,41,030 by way of cash assistance. since clause (iiib) was inserted in section 28, though having retrospective operation by the finance act, 1990, the assessee did not include this income in its return which, as noted above, was filed on december 29, 1989. the ..... mentioned therein is chargeable to income-tax under the head 'profits and gains of business or profession'. clause (iiib) in section 28 was inserted by the finance bill of 1990. the finance bill which ultimately became the finance act received assent of the president of india on may 31, 1990. clause (iiib) was given retrospective operation with effect from .....
Tag this Judgment!Court : Kerala
Reported in : [2010]24STT416
..... not business auxiliary service attracting liability for service tax falling under section 65(79) of the finance act 1994? the finance act, 1994 was amended section 90 of the finance (no. 2) act, 2004 introducing clauses (12) and (19) in section 65 of the finance act, 1994. while clause (12) of section 65 defines banking and other financial services which specifically excludes service ..... . in fact cash management service remained excluded for the purpose of levy of service tax until it is deleted through an amendment with effect from 1-6-2007. prior to the deletion clause (12) was covering the following services:(12) 'banking and other financial services' means--(a) the following services provided by ..... order of the tribunal though not for the reasons stated by them but for the findings rendered by us above. it also conceded that from 1-6-2007 onwards the very same service is taxed for service tax at the hands of the respondent by the department under the head 'cash management service'. we, .....
Tag this Judgment!Court : Chennai
Reported in : (1981)17CTR(Mad)306; [1981]132ITR612(Mad)
..... pt. i of the first schedule to that act. in that cases to which paras. a, b, c and e of that part applied ..... to be assessed, the assessee would be liable to surcharge under the relevant finance act is open to the commissioner on the facts here.in order to appreciate the point, it is necessary for us to refer to the relevant provisions of the finance act. section 2 of the finance act, 1963, provides for the charge of income-tax at the rages specified in ..... to pass its order on october 30, 1975. however, the relevance of the interpretation placed by the supreme court with reference to the identical provision of the finance act cannot now be open to question. as the matter before the tribunal arose only with reference to the assessees liability to the additional surcharge and as this matter .....
Tag this Judgment!Court : Chennai
Reported in : [1999]107TAXMAN16(Mad)
..... income.8. the legislative history makes the provision clear; when clause (viii) of section 36(1) was introduced, a deduction was granted loran amount not exceeding 10 per cent of the total income carried to such special reserve. when it was amended by the finance act, 1966, the limit was raised to 25 per cent in the case of financial ..... under this clause, be deemed to have been transferred to the reserve account in the accounts of the first mentioned previous year.'but this explanation was omitted by the finance act, 1974, with effect from 1-4-1975. the omission was made with a view to facilitate the building up of internal resources or, financial corporation of joint financial ..... the current profits to the special reserve account at 55 per cent of the taxable income. it is with that object in view the explanation was omitted by the finance act, 1975 with effect from 14-1975, and if we accept the contention urged on behalf of the assessee that it is open to the assessee to reply upon .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]206ITR567(Cal)
..... it be said that undischarged liabilities towards municipal taxes can be treated as a debt secured on one or more assets taxable under clause (viii) of sub-section (3) of section 40 of the finance act, 1983. none of the clauses (i) to (vii) is applicable to the facts of this case. the assessee has not, by reason of not ..... . but the undischarged liabilities towards municipal taxes could not be treated as a debt secured on one or more assets taxable under clause (viii) of sub-section (3) of section 40 of the finance act, 1983. it accordingly held that the assets mentioned by the assessing officer like advances to parties, shares or deposits in banks, etc., were clearly not ..... the tribunal was right in law in holding that rs. 5,13,566 and rs. 5,88,138 could not be assessed to the wealth-tax under sub-section (3) of section 40 of the finance act, 1983, in the assessment years 1984-85 and 1985-86, respectively ?' 3. the facts leading to this reference are that the assessee, messrs. champa .....
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