Judgment Search Results Home > Cases Phrase: finance act 2007 section 12 amendment of section 35 Court: chennai Page 12 of about 12,035 results (0.189 seconds)

Cwt Vs. Alfred and Berg Co. (i) (P) Ltd.

Court : Chennai

Reported in : [2003]129TAXMAN743(Mad)

..... has not considered the terms and conditions of the lease deed under which the building was let out. the tribunal also has to consider the terms of section 40(3)(vi) of finance act and then examine the question and even if it is commercial asset ' it has to be considered whether it is excludible from the levy of wealth-tax ..... clause in the memorandum of association is alone not sufficient and the tribunal should consider whether the building was a business asset or not with reference to section 40(3)(vi) of the finance act, 1983 and also with reference to the terms of the lease deed under which the property was let out. in the instant case, the tribunal ..... portion of the building to the tenants and realised rental income from the portion of the building let out to the tenants. the wealth tax officer applied section 40(3)(vi) of the finance act, 1983 and held that the let out portion of the building was assessable to wealth-tax, which was confirmed by the commissioner (appeals). the tribunal .....

Additional Commissioner of Income-tax Vs. Abhai Maligai

Court : Chennai

Reported in : [1978]113ITR737(Mad)

..... thus : ' as has been already noticed the explanation in question was introduced in section 271(1) of the act by virtue of an amendment of that section effected by section 40 of the finance act, 1964. it is expressly statedin section 1(2) of the finance act, 1964, that sections 3 to 55 thereof shall be deemed to have come into force only on ..... has indicated such an intention either by express words or by necessary implication. it appears to us to be clear that the two changes introduced in section 271(1) of the act by the finance act, 1964, consisting of the deletion of the word ' deliberately ' which occurred in clause (c) and the insertion of the explanation at the ..... the 1st day of april, 1964. it is, therefore, clear that the intention of parliament was that the amendments in question introduced by section 40 of the finance act were to be effective only from april 1, 1964. the learned counsel for the revenue, however, contends that since the provisions of the explanation relate .....

Khivraj Motors Ltd. Vs. Deputy Commissioner of Income-tax and Others

Court : Chennai

Reported in : [1994]205ITR462(Mad)

..... of the obligation to pay wealth-tax, as a consequence of suspension of wealth-tax on companies with effect from april 1, 1960, by the finance act, 1960 (13 of 1960). by section 40 of the finance act, 1983 (11 of 1983), with effect from april 1, 1983, wealth-tax was revived in a limited way on and from the assessment year ..... 1984-85, in the case of closely-held companies. the said section 40 was further amended by the finance act, 1988 (26 of 1988). 2. the petitioner-company owns assets in the shape of property at nandhanam, as well a property at delhi, apart from ..... respondent, dunlop india limited, is a manufacture of tyres, tubes and various other rubber products. by notification dated april 6, 1984, issued by the government of india, ministry of finance (department of revenue), in exercise of the powers conferred on it by rule 8(1) of the central excise rules, 1944, tyres, falling under item no. 16 of the .....

Royal Enfield Vs. Commissioner of Service Tax, Chennai

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... as the demand of tax was restricted for the period from 19.4.2006 to january 2007 along with interest. penalty was waived by invoking section 80 of the finance act, 1994. the assessee filed appeal before the tribunal against the demand of tax along with interest for the period from 19.4.2006 ..... 2007 utilized towards the payment of tax and imposed penalty. commissioner (appeals) modified the adjudication order in so far ..... of rs.10,27,257/- along with interest and penalty for the period april 2006 to january 2007. the adjudicating authority confirmed the demand of service tax of rs.10,27,257/- along with interest under section 73 (1) of the finance act, 1994 and disallowed the cenvat credit of rs.10,27,257/- under rule 14 of the ccr .....

M/s. Sundaram Motors, Represented by its CFO and Global President-Fina ...

Court : Chennai Madurai

..... 6(3a)(c)(iii) of ccr and proviso to section 73(1) of the finance act, 1994 and interest at the rate prescribed under section 75 of the finance act 1994 and penalty under rule 15(3) of the cenvat credit rules, 2004 read with section 78 of the finance act, 1994 and also penalty under section 77 (2) of the finance act, 1994. 2. the other writ petition in w.p .....

M/S. Jmj Constructions, Rep. by Its Managing Partner Vs. the Assistant ...

Court : Chennai

..... along with the interest, on 7.3.2007 and 26.3.2008, for the years 2005-2006 and 2006-2007, before any show cause notice had been issued to the petitioner. the petitioner was under the impression that it had paid the entire service tax, in terms of section 73(3) of the finance act, 1994. however, the assistant commissioner of ..... the second respondent, without considering the facts and circumstances of the case, had refused to condone the delay stating that he does not have the power, as per section 85 of the finance act, 1994, to condone the delay of over three months. accordingly, he had passed the order, dated 27.1.2011, rejecting the appeal filed by the petitioner, ..... in view of the submissions made by the learned counsel appearing for the petitioner, as well as the respondents, and on a perusal of the provisions of section 85 of the finance act, 1994, it is clear that there is no power vested in the appellate authority to condone the delay of over six months in preferring the appeal. as .....

Sree Infra Tech Vs. Commissioner of Central Excise Tiruchirapalli

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... delay in remitting tax. at any rate, when the appellant did not owe any money to the government in view of the retrospective amount as per section 97 of finance act, 1994 the demand for interest cannot be sustained. 5. i have considered submissions on both sides. i find merit in the argument of the counsel for ..... authority ordered that the amount already paid by the appellant be credited to the consumer welfare fund in terms of section 73a(6) of the finance act, 1994. further the demand for interest of rs.1,21,011/- was confirmed against the appellant. aggrieved by the order, the appellant filed appeal ..... and also demanding an interest amount of rs.1,31,888/-. by the time of adjudication, section 97 was inserted in finance act, 1994 exempting service tax in respect of management, maintenance and repair service retrospectively from 16-05-2005, by finance act 2012. consequently at the time of adjudication, the demand for tax was dropped. the adjudicating .....

J.K.K. Angappan Vs. Income-tax Officer

Court : Chennai

Reported in : [1974]94ITR397(Mad)

..... in this writ petition on various grounds.3. it is contended that chapter xxii-a dealing with annuity deposit was inserted in the income-tax act, 1961, by section 44 of the finance act of 1964 with effect from 1st april, 1964, that under the said scheme of annuity deposit the taxpayers have the option to make or not ..... main legal contention put forward by the petitioner. according to him even after the omission of sections 280k, 280r and 280t of the income-tax act, 1961, by section 32 of the finance act of 1966, by virtue of section 6 of the general clauses act, the income-tax officer has still the power to assess and demand the annuity deposit accrued ..... the nature of the annuity deposit scheme and the effect of the omission of the provision to sections 280k, 280r and 280t from the income-tax act, 1961, by the finance act of 1966, the scheme of annuity deposit introduced by section 44 of the finance act of 1964 has been explained by the supreme court in hari krishna bhargav v. union of india .....

Commissioner of Income-tax Vs. Southern Petro Chemical Industries Corp ...

Court : Chennai

Reported in : (1999)151CTR(Mad)188; [1998]233ITR391(Mad)

..... . since the user of the machinery for the purpose of business is a sine qua non for the grant of development rebate, notwithstanding the provisions of section 16 of the finance act, 1974, extending the benefit of development rebate, the tribunal is directed to consider and give a finding regarding the user of the machinery in question. ..... officer the particulars that the assessee had entered into contract for the purchase of machineries before 1st day of december, 1973, and if such condition is satisfied, section 16 of the finance act,, 1974, provides that in case any machinery or plant was 'installed' by the assessee after may 31, 1974, but before june 1, 1975, the notification ..... condition regarding the user for the purpose of its business should also be fulfilled. the view of the appellate tribunal that because of the provisions of section 16 of the finance act, the condition regarding the user need not be complied with in the year of grant of development rebate is not borne out on a fair .....

The Commissioner of Income-tax Vs. Pooshya Exports (P) Ltd.

Court : Chennai

Reported in : [2003]262ITR417(Mad)

..... value added granites. apart from that the assessment years under consideration in that case was 1991-92 to 1993-94 subsequent to the amendment brought by finance act 2/91 to subs-section 2(b)(ii) of section 80hhc. but in the case on hand the relevant assessment year is 1988-89, i.e., prior to the date of amendment. hence the ..... category of the goods are carved out of the denial clause and benefit granted to them. hence we are of the considered view, the amendment brought by finance act 2/91 to section 80hhc is only prospective and effective from 1.4.1991 and for the assessment year 1988-89 under consideration, the statutory provision is very clear in the sense ..... benefit in respect of export of mineral oils, minerals and mineral ores at the relevant assessment years. insertion made to sub-clause (ii) of clause (b) of sub-section (2) of section 80hhc has been done by the finance act 2 of 1991 with effect from 1 4.1991, whereby the processed minerals and ores specified in twelfth schedule to the .....