Court : Karnataka
..... vitiate levy of tax. (see avinder singh v. state of punjab - air1979sc321. c. legality of levy of nccd as per section 136 of the finance act, 2001 section 136 of the finance act, 2001 provides for levy of nccd and section 136 (1) and (2) are extracted herein below for reference:1. in the case of goods specified in the seventh schedule ..... third income tax officer, madurai reported in (1975) 2 scc454(bench of three judges). the apex court has clearly opined that the surcharge leviable under section 2 (1) of the finance act, 1963 are relatable to article 271 of the constitution of india. in a detailed discussion, the apex court has also clarified that the purpose and concept ..... referred to as nccd ) as unconstitutional. d) in the alternative and without prejudice to the relief at prayer (c), have sought for declaration that section 136 of the finance act, 2001 under which there has been a levy and collection of nccd has been impliedly repealed with effect from 01.07.2017 i.e., the date on .....
Tag this Judgment!Court : Karnataka
..... vitiate levy of tax. (see avinder singh v. state of punjab - air1979sc321. c. legality of levy of nccd as per section 136 of the finance act, 2001 section 136 of the finance act, 2001 provides for levy of nccd and section 136 (1) and (2) are extracted herein below for reference:1. in the case of goods specified in the seventh schedule ..... third income tax officer, madurai reported in (1975) 2 scc454(bench of three judges). the apex court has clearly opined that the surcharge leviable under section 2 (1) of the finance act, 1963 are relatable to article 271 of the constitution of india. in a detailed discussion, the apex court has also clarified that the purpose and concept ..... referred to as nccd ) as unconstitutional. d) in the alternative and without prejudice to the relief at prayer (c), have sought for declaration that section 136 of the finance act, 2001 under which there has been a levy and collection of nccd has been impliedly repealed with effect from 01.07.2017 i.e., the date on .....
Tag this Judgment!Court : Karnataka
..... expenses, if any, in earning the income and any unabsorbed loss continues to be carried forward to subsequent years as is made explicitly clear by sub section (3) of section 74a.47. section 194b was inserted by finance act, 1972, with effect from 01.04.1972. it casts an obligation on every person responsible for paying any income by way of winnings from any lottery ..... 226 and 227 of the constitution of india, praying to quash the notices dated 20.12.2012 and 7.1.2013 issued by r-3 for the years 2006-07,2007-08, 2008-09, 2009-10, 2010-11, 2011-12 vide annexure-b, b1, b2, b3 as being unconstitutional and ultra-vires the provisions of the income tax 1961 and etc ..... , 2008-09, 2009-10, 2010-11 and 2011-12 (annexures-b b1, b2, b3) as being unconstitutional and ultra vires the provisions of income tax act, 1961. (2) quash notices for the years 2006-07, 2007-08, 2008-09, 2009-10 upto 31.12.2009 (3rd quarter) as being barred by limitation (annexures-b, b1, b2, b3). (3) declare that the circulars .....
Tag this Judgment!Court : Karnataka
..... provided under sub-section (2) of section 2 of the finance act. 7. the question in this case relates to the correct interpretation of the entries in the constitution. the two entries in the constitution that ..... of charging income-tax only on the net income. the manner of calculating the income chargeable is also provided in clause (b) of sub-section (2) of section 2 of the finance act. the assessing authority has aggregated the agricultural income of the petitioner with the net income and levied income-tax only on the total income as ..... amount of income-tax determined in accordance with sub-clause (ii) shall be the income-tax chargeable in respect of the total income.' 6. sub-section (2) of section 2 of the finance act provides for the case to which it is made applicable. where the assessee has in the previous year any net 'agricultural income' in addition to .....
Tag this Judgment!Court : Karnataka
..... case, it is necessary to decide as to whether any of the above provisions apply having regard to the facts of the case. the relevant portion of section 73(a) of the finance act, 1994 reads as follows:73. value of taxable services escaping assessment- if-(a) the central excise officer has reason to believe that by reason of omission ..... was justified in holding that the appeal filed by the respondent-assessee was maintainable as the communication dated 9.1.2006 was an order within the meaning of section 86 of the finance act 1994?ii) if the answer to point no. 1 is in the affirmative, whether the order of the tribunal impugned in this appeal calls for any ..... , it is submitted on behalf of the respondent that the appeal filed before the tribunal and the same was maintainable in view of the procedure envisaged under section 84 of the finance act, 1994 was not complied with by the department before passing the order dated 9.1.2006 and that the order impugned before the tribunal was in fact .....
Tag this Judgment!Court : Karnataka
Reported in : 2004(174)ELT313(Kar); 2006[3]STR404
..... of shri veerendra sharma that the tribunal has mis-directed itself by proceeding on the basis that minimum of rs. 100/- per day is not prescribed under section 76 of the finance act, 1994, and therefore the questions formulated above are required to be referred to this court for consideration. we are of the view that there is no basis ..... 84 (tribunal)] setting aside the order-in-review no. 8/2002, dated 29.1.2002/1.2.2002 wherein it was interpreted that the minimum penalty imposable under section 76 of the finance act, 1994 is rs. 100/- only and not rs. 100/- per day is maintainable in law?2. therefore, it is the contention of shri veerendra sharma, additional ..... to the facts and circumstances of the case, has exercised his discretion and levied penalty of rs. 250/ under section 76 of the finance act, 1994 for non-payment of service tax and penalty of rs. 200/- under section 77 of the finance act, 1994 for failure to furnish the st-3 returns in time in the proceedings arising in c. no. iv .....
Tag this Judgment!Court : Karnataka
Reported in : [1998]234ITR535(KAR); [1998]234ITR535(Karn)
..... from the headnote of the judgment). 3. in view of the interpretation put by the supreme court in the case supra, explanation (c) added to section 263(1) as amended by the finance act of 1989, would not make any difference in the present case as it is not clear from the statement of the case as to whether the ..... jurisdiction to revise the orders even if the order of the assessing officer had been the subject matter of an appeal. explanation (c) added to section 263(1) was further amended by the finance act of 1989, with retrospective effect which reads as follows ;'explanation.--for the removal of doubts, it is hereby declared that, for the purposes of ..... cit v. shri arbuda mills ltd. : [1998]231itr50(sc) and it was held that : '. . . the explanation to section 265(1) which was substituted by the finance act, 1988, with effect from june 1, 1988, was again amended by the finance act, 1989, with retrospective effect from june 1, 1988, to the effect that where any order referred to in the sub .....
Tag this Judgment!Court : Karnataka
Reported in : AIR1958Kant102; AIR1958Mys102; (1958)36MysLJ73
..... 1946 that imposed a liability upon the assessee to pay tax on this income at the rate mentioned in that act. when we turn to the finance act of 1946, sub-section (9) of section 11 makes this provision: 'for the purposes of this section and of the rates of tax imposed thereby, the expression 'total income' means total income as determined for ..... -2-1940. the assessee appealed against that assessment to the appellate commissioner. on 26-5-1940, the governor of bihar, acting under section 92(1) of the government of india act, 1935, issued a notification that the indian finance act, 1940 should be deemed to have come into force on 6-4-1940 in the area in which the assessee was residing ..... in operation, on the date of the assessment. by a further regulation which was enacted by the governor of bihar, acting under section 92(2) of the government of india act, 1935, it was provid-ed that the indian finance acts of 1938 and 1939 should be deemed to have come into force in that area on 26-3-1938 and 30 .....
Tag this Judgment!Court : Karnataka
Reported in : (1993)109CTR(Kar)106; [1993]201ITR1002(KAR); [1993]201ITR1002(Karn); 1993(37)KarLJ140
..... a trading concern as it is mainly intended for trading and not for production or manufacture 6. this decision is based on the definition of industrial company in section 2 (6) (d) of the finance act, 1968. 7. the madras high court also took a similar view in cit v. buhari sons pvt. ltd. [1983] 144 itr 12. the decision ..... 8. koshy's pvt. ltd. v. cit : [1985]154itr53(kar) is a decision of this court which was concerned with section 2 (8) (c) of the finance act, 1975. the phrase 'mainly engaged in' is found in all the above referred finance acts. the bench considered the scope of the terms 'processing' and 'manufacturing' and thereafter held as follows (at page 58) : ' ..... is under section 2 (7) (d) of the finance act, 1966. the bench held that the definition is always subject to the context and the expression 'manufacture' does note cannot a trading activity and an activity carried .....
Tag this Judgment!Court : Karnataka
Reported in : ILR1985KAR955; [1985]152ITR618(KAR); [1985]152ITR618(Karn)
..... . accepting these recommendations, s. 14 of the finance act of 1974 amended the schedule to the act. the finance act of 1976 again amended the rates only retaining the clause in principle effected in the finance act of 1974. section 2 of the finance act, 1974, also made corresponding amendments in the i.t. act of 1961 (the 'i.t. act'). 16. the annual finance bill of 1973 (bill no. 5 of 1973 ..... ), which was later enacted as the finance act of 1974 introduced by the hon'ble finance minister, contained the usual statement of object and .....
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