Judgment Search Results Home > Cases Phrase: finance act 2007 section 127 amendment of section 32n Court: supreme court of india Page 8 of about 1,139 results (0.395 seconds)

State of Kerala Vs. Alex George and anr. Etc.

Court : Supreme Court of India

Reported in : (2004)192CTR(SC)581; [2004]271ITR290(SC); JT2004(10)SC104; 2005(1)KLT164(SC); 2004(9)SCALE545; (2005)1SCC299

..... in the next immediate financial year 1988-89. as stated above, chargeability is independent of the passing of the finance act. therefore, one has to read the finance act in consonance with the provisions of the charging section. the function of the finance act primarily is to prescribe the rate of tax and the manner of calculation of tax; and it is not ..... (sc) , it has been held that the chargeability is independent of the passing of the finance act.24. in the light of our above discussion, we have to examine the effect of the finance act, 18 of 1987 qua section 3 of the 1960 act. the said finance act, 18 of 1987 was enacted to give effect to the budget proposals for the financial year ..... order of the kerala high court dated 28.8.1998 raises the question as to the true scope and operation of section 1(2) of the kerala finance act, 18 of 1987 substituting schedule-i to the kerala plantations tax act 1960 w.e.f. 1.7.1987.2. since the aforestated question arises in all the civil appeals, the .....

The Commissioner of Income Tax Vs. M/S. Express News Papers Limited

Court : Supreme Court of India

Reported in : [1998]230ITR477(SC); JT1998(1)SC347; 1998(1)SCALE273; (1998)3SCC106; [1998]1SCR288

..... a-vis, the one exercised by the board of directors while deciding to pay an interim dividend, that in clause (c) of the second proviso in the finance act, the expression used is 'declared or distributed to its shareholders'. this clearly postulates a situation where they may be distributed of dividend without its declaration. this can ..... the relevant previous year and the payment was made in the subsequent previous year and, therefore, by virtue of explanation 3 to the first proviso of the finance act, 1964 the rebate could not be reduced. having failed to get any relief from the appellate authorities, a question of law with regard to this aspect ..... passed by the board of directors on 6th december, 1962 amounted to a declaration of dividend. under sec. 205 of the companies act, dividend is distributed on a resolution being passed by the company in general meeting. the companies act, as such, does not specifically refer to the distribution of interim dividend. table a. however, provides .....

Sundaram and Company (P.) Ltd., Madurai Vs. Commissioner of Income-tax ...

Court : Supreme Court of India

Reported in : AIR1968SC124; [1967]66ITR604(SC); [1967]3SCR798

..... proceeding to enlarge the scope of the enquiry and in entering upon a question which was never mooted before the tribunal. 12. section 2 of the finance act, 1956, provides insofar as it is material, that : 'subject to the provisions of sub-sections (2), (3), (4) and (5), for the year beginning on the 1st day of april, 1956, - (a) income- ..... orders passed under s. 23a cannot be taken into consideration for the purpose of reducing the rebate of super-tax admissible under the proviso 2 to paragraph d of the finance act, 1956. the income-tax officer rejected the contentions and ordered that the rebate of super-tax to the extent of rs. 80,978/-be withdrawn. 4. in ..... tax shall be charged at the rates specified in part i of the first schedule..... (b) rates of super-tax shall, for the purposes of section .....

P.K. Badiani Vs. the Commissioner of Income Tax, Bombay

Court : Supreme Court of India

Reported in : AIR1977SC560; [1976]105ITR642(SC); (1976)4SCC562; [1977]1SCR638

..... (vi-a) of section 10(2) of the 1922 act is permitted to be deducted from the 'written down value'. by and large, the cost of replacements is allowed as deductions in feu of depreciation in respect of certain assets. by the amendments made by the income-tax amendment act, 1946, the finance act, 1955 and the finance act, 1956 certain initial ..... not to permit them to exceed the maximum limit provided therein. development rebate was provided in clause (vi-b) with effect from 1st april, 1955 by the finance act of 1955. there was an over-lapping period of about two years in relation to the allowance of initial depreciation or the development rebate. but as provided for ..... of new investment in fixed assets to be charged to current costs of production thereby permitting the taxable profits to be brought down to that extent. in the finance act of 1955 a provision was made to allow a development rebate of 25% of the cost of all new plant and machinery installed for business purposes instead .....

Commissioner of Income Tax, Delhi Vs. Woodward Governor India P. Ltd.

Court : Supreme Court of India

Reported in : (2009)223CTR(SC)1; [2009]312ITR254(SC); JT2009(5)SC378; 2009(5)SCALE198; (2009)13SCC1; [2009]179TAXMAN326(SC); 2009(3)LC1519(SC)

..... of accrual shifts to the point of payment.27. learned counsel next contended that on a proper and true interpretation of the amendment to section 43a, introduced by finance act, 2002, section 43a is clarificatory. according to the learned counsel, the occasion for the clarificatory amendment arose in view of the judgments of the various ..... condition precedent for making adjustment in the carrying amount of the fixed asset. this indicates a complete structural change brought about in section 43a vide finance act, 2002. therefore, the amended section is amendatory and not clarificatory in nature.conclusion:35. for reasons given hereinabove, we find no infirmity in the impugned judgments ..... previous year had to be allowed. this decision of the tribunal has been upheld by the delhi high court vide the impugned judgment dated 30.4.2007, hence, this civil appeal is filed by the department.6. shri parag tripathi, learned additional solicitor general, appearing on behalf of the department submitted .....

Commissioner Of Service Tax Mumbai Ii Vs. M/s. 3i Infotech Ltd.

Court : Supreme Court of India

..... on the basis of four show cause notices. the notices c.a.no.4007 of 2019 etc. page 1 of 15 were issued under section 73 of the finance act, 1994 (for short the finance act ) for the demand of service tax. the brief particulars of show cause notices are as under: show cause period demand under notice ..... hardware as well as software under the annual maintenance contract was covered by the category of management, maintenance or repair services which was defined under section 65(64) of the finance act. thus, the classification mentioned in the first show cause notice was completely erroneous. therefore, cestat was right in holding that the first show cause ..... may 2008 onwards, in relation to the software, the classification of service rendered should be under the category of information technology software defined under section 65 (53a) of the finance act. thirdly, it was held that the value of the computer hardware items consumed for providing the services is required to be included in the .....

Safety Retreading Co. Pvt.Ltd. Vs. Comm. of Customs and Cent.Excise,sa ...

Court : Supreme Court of India

..... value of the materials/goods that have been used and sold in the execution of the contract.2. the definition of 'taxable service' contained in section 65(105)(zzg) of the finance act, 1994, as amended by finance act, 2003 may be noticed at this stage. 65. definitions in this chapter, unless the context otherwise requires.-- * * * (105) 'taxable service ..... prescribed rate, on the value of taxable services referred to in, inter alia, sub-clause (zzg) of clause 105 of section 65 of the finance act, 1994.5. section 67 of the aforesaid act deals with valuation of taxable services and specifically mentions that the same does not include the cost of parts or other material ..... omitting 70% of the consideration received towards retreading charges to avoid tax burden. the verification of invoices of the appellant for the period from jan-2007 to march-2007, the officers noticed that the appellant have shown material cost, patch cost and misc. charges i.e. labour charges separately in their invoices. .....

M/S. Srd Nutrients pvt.ltd. Vs. Commissioner of cent.excise, Guwahati

Court : Supreme Court of India

..... to exempt education cess in addition to service tax, where 'whole of service tax' stands exempted. according to section 95(1) of finance (no.2) act, 2004 and section 140(1) of finance act, 2007, education cess and secondary and higher education cess are leviable and collected as service tax, and when whole of ..... , seeking clarification regarding the applicability of service tax exemption to education cess (refers to both education cess leviable under finance (no.2) act, 2004 and secondary and higher education cess leviable under finance act, 2007), under notifications where 'whole of service tax' stands.exempted. apparently the doubt arises in the civil appeal nos. ..... 2781-2790 of 2010 & ors. page 16 of 30 fact that excise duty is payable under the excise act, education cess and higher education cess are payable under the finance act, by virtue of section 11 thereof. therefore, the mandate and source of charging education cess is altogether different. the exemption notification which .....

Assst. C.i.T., Vadodara Vs. Elecon Engineering Co. Ltd.

Court : Supreme Court of India

Reported in : (2010)230CTR(SC)1

..... are proceeding on the basis that the purpose of the loan taken by the assessee from icici was to finance the purchase of plant and machinery.9. section 43a, before its substitution by a new section 43a vide finance act, 2002, was inserted by finance act, 1967 with effect from 1.4.1967, after the devaluation of the rupee on 6 june, 1966. ..... in this case, we are not concerned with the position emerging after finance act, 2002. under explanation 3 to section 43a, if the assessee had covered his liability in foreign exchange by entering into forward contract with an authorized dealer for the purchase of foreign exchange ..... actual cost was required to be done each year on the closing date, i.e., year- end. subsequently, section 43a underwent a drastic change by virtue of a new section 43a inserted vide finance act, 2002. under the new section 43a such adjustment to the cost had to be done only in the year in which actual payment is made. .....

Assistant Commissioner of Income Tax Vs. Rajesh Jhaveri Stock Brokers ...

Court : Supreme Court of India

Reported in : AIR2007SC2163; (2007)210CTR(SC)30; [2007]291ITR500(SC); JT2007(8)SC494; 2007(8)SCALE396; 2007(2)LC0725(SC)

..... notwithstanding that no tax or refund was due from him after making such adjustments. with effect from april 1, 1998, the second proviso to section 143(1)(a) was substituted by the finance act, 1997, which was operative till june 1, 1999. the requirement was that an intimation was to be sent to the assessee whether or not ..... the return and making the permissible adjustments only. as a result of insertion of the explanation to section 143 by the finance (no. 2) act of 1991 with effect from october 1, 1991, and subsequently with effect from june 1, 1994, by the finance act, 1994, and ultimately omitted with effect from june 1, 1999, by the explanation as introduced ..... by the finance (no. 2) act of 1991 an intimation sent to the assessee under section 143(1)(a) was deemed to be an order for the purposes of section 246 between june 1, 1994, to may .....