Judgment Search Results Home > Cases Phrase: finance act 2007 section 127 amendment of section 32n Page 87 of about 7,535 results (0.255 seconds)

Kwality Milk Foods Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2006)100ITD199(Chennai)

..... the issue which is posed before the special bench. the task assigned to this special bench is to point out whether the amendment in proviso to section 43b by finance act, 2003 could be construed to be curative as such retrospective in nature. various benches of the tribunal allowed both the types of claims giving rise ..... law. question posed before the tribunal was whether deduction can be allowed in respect of the said payment in view of amendment in proviso to section 43b by the finance act, 2003 by holding the same as retrospective.3. the question whether a statutory provision has retrospective effect or not depends primarily on the language in ..... of the income-tax appellate tribunal (hereinafter called "the tribunal") has constituted this special bench to consider the following question: whether amendment in proviso to section 43b by finance act, 2003 could be construed to be curative, as such retrospective in nature? 2. we have heard the rival submissions in the light of material placed .....

Deputy Commissioner of Income Tax Vs. Glaxo Smithkline Consumer

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2007)107ITD343(Chd.)

..... behind these provisions is to provide for a tax disincentive by denying deduction in respect of a "statutory liability" which is not paid in time. the finance act, 1987, inserted a provision of section 43b to provide that any sum payable by way of tax or duty, etc., liability for which was incurred in the previous year will be allowed ..... by interpretative process to make the position beyond controversy or doubt. their lordships of the supreme court in the case of dilip n. shroff v. jt. cit (2007) 210 ctr (sc) 228 : (2007) 291 itr 519 (sc) defined the object of an explanation to a statutory provision as under: the object of an explanation to a statutory provisions is : ( ..... a) to explain the meaning and intendment of the act itself; (b) where there is any obscurity or vagueness in the main enactment, to clarify the same so .....

Commissioner of Income-tax Vs. Hasanali Khanbhai and Sons

Court : Gujarat

Reported in : [1987]165ITR195(Guj)

..... less than four partners or whether the firm had five or more than five partners.this provision of section 2,sub-section [4], of the finance [no. 2] act 1962,is to be found reproduced in the finance act of 1963, as also in the finance act of 1964 which provided the rates for the assessment year 1964-65. for the assessment year 1964- ..... minimum rate at which net 'capital gains' was to be taxed was fifteen per cent and the full bench also took into consideration the provisions of section 2 of the relevant finance act applicable to the assessment year 1967-68. we, therefore, answer the question referred to us in the negative and we hold that the tribunal was not ..... in the light of the definition of the word 'person' in section 2(31) of the 1961 act and also the definition of the word 'income' in section 2(24) read with the provisions of section 114 and section 182 of the 1961 act and the relevant sub-section or section of the finance act of each year, it is obvious that when considering the total .....

Commissioner of Income-tax (Central) Vs. Oriental Co. Ltd.

Court : Kolkata

Reported in : (1981)25CTR(Cal)75,[1982]137ITR777(Cal)

..... franked investment income if the recipient is a company resident in the united kingdom. (finance act, 1965 section 48(1)). such a company is not chargeable to corporation tax thereon (finance act, 1965, section 50(2)(a)), and so is not exempt from income-tax (finance act, 1965, section 46(2)(b)), unless under a double taxation convention.' 14. in our opinion ..... ) , the supreme court realised the difficulties of the rate and indicated that this should be deducted at the standard rate prescribed in the relevant section of the u.k. finance act. 33. we are conscious that this construction would lead to an anomalous position in the sense that an indian shareholder receiving dividend income would be ..... of cit v. thomas duff and company india private ltd. (see p. 798 infra (appendix)) that by section 47 of the finance act, 1965 (u.k.). it appears to us that under sub-section (2) of the finance act, 1965 of england, income-tax under schedule f for any assessment year shall be charged in respect of any .....

The Khardah Company Ltd. Vs. Commercial Tax Officer, Esplanade Charge ...

Court : Kolkata

Reported in : [1976]37STC382(Cal)

..... in mcgregor and balfour ltd. v. commissioner of income-tax, west bengal [1955] 27 i.t.r. 389, and hold that the provisions of section 51(b) of the finance act, 1966, were intended to form part of the general law of this country. neither expressly nor by necessary intendment the substitution of the words 'three per ..... of a number of statutes relating to various direct and indirect taxes including the central sales tax act, 1956 (vide section 51 of the finance act). but the said act did not provide that such amendments in section 15 of the central sales tax act, 1956, would be temporary or that it would be in force only for the financial year ..... the said substitution of the words 'three per cent' in section 15 made by the finance act, 1966, is no longer in force. the finance act, 1966, was an annual act, and, after the expiry of the financial year 1966, the said act expired and the amendment made by section 51 of the finance act, 1966, became ineffectual. therefore, the state laws cannot impose .....

Vodafone International Holdings B.V. Vs. Union of India (Uoi) and anr.

Court : Mumbai

..... .singhvi submitted that the tax authority is not competent to treat the petitioner as an assessee in default under section 201, as amended by the finance act, 2008 and the amendment to section 201 by the finance act, 2008 is unconstitutional. we have not considered it appropriate to adjudicate upon the submission of dr.singhvi at this ..... press note 1.103. upon receipt of the application, the government of india in the fipb unit of the ministry of finance addressed a letter on 28 february 2007 to hel seeking details of the direct and indirect foreign holding in hel and details of indian companies together with their stake in ..... the sale of cgp investments (holdings) limited which held through various subsidiaries all our interests in india". the report refers to the transaction of 11 february 2007 and reports "the results pertaining to the india mobile telecommunications operations .. presented as discontinued operations" in accordance with the hong kong financial reporting standard (hkfrs). .....

Pr. Commissioner of Income Tax-2 vs.british Motor Car Co.(1934) Ltd

Court : Delhi

..... after considering and noticing these relevant facts, observed as follows:-" 34. we may now examine the provisions of section 32(2) of the act before its amendment by the finance act, 2001. the section, prior to its amendment by the finance act, 2001, read as under: where in the assessment of the assessee full effect cannot be given to any allowance ..... been to allow the unabsorbed depreciation allowance worked out in the assessment year 1997 98 only for eight subsequent assessment years even after the amendment of section 32(2) by the finance act, 2001, it would have incorporated a provision to that effect. however, it does not contain any such provision. hence, keeping in view the ..... 2001 02 got carried forward to the assessment year 2002 03 and became part thereof, it came to be governed by the provisions of section 32(2) as amended by the finance act, 2001, and were available for carry forward and set off against the profits and gains of subsequent years, without any limit whatsoever. 9 .....

The International Association For Protection Of Intellectual Property ...

Court : Supreme Court of India

..... 2020) scc online sc962 2 incumbent chairperson of the board stating that his appointment was made under section 89a of the trademarks act, 1999 ( tm act hereafter). the applicant urges that section 184 of the finance act, 2017, prescribes the term of office and the conditions of service of chairperson and members of various ..... were abolished and their respective jurisdictions and powers were incorporated into seven existing tribunals, reducing the number of tribunals from 26 to19. thirdly, under section 184 of the finance act, the central government was authorized to frame delegated legislation (rules) spelling out the eligibility criteria, selection process, removal, salaries and allowances, ..... conditions hitherto applicable would no longer be so and that in matters of conditions of service and tenure of appointment, the provisions of section 184 of the finance act would apply. it is contended by senior counsel that the rules were originally framed with effect from 01.06.2017, under which .....

Union Of India Vs. M/s Mohit Minerals Pvt. Ltd.

Court : Supreme Court of India

..... and orders were challenged on the ground that the authorities did not have the jurisdiction to issue them since the amendments introduced to section 25(1) of the kvat act through the kerala finance acts 2017 and 2018 did not operate retrospectively. the kerala high court had to decide whether the kerala state legislature had the legislative competence ..... be subject to igst under section 5 of the igst act, on the 46 part b value as determined by section 3(8) and section 3(8)(a). under section 3(8), the value includes value of freight; and (b) rule 10 of the customs valuation (determination of value of imported goods) rules 2007 includes cost of transportation and ..... insurance in the value of goods, which forms the basis of the levy of igst under the proviso to section 5 of the igst act. the impugned levy of igst on ocean freight would thus amount to double taxation .....

Vivek Narayan Sharma Vs. Union Of India

Court : Supreme Court of India

..... general policy of the legislature ...192. recently, the constitution bench of this court in the case of rojer mathew (supra) considered the question, as to whether section 184 of the finance act, 2017, which does not prescribe qualifications, appointment, term and conditions of service, salary and allowances, etc. suffers from the vice of excessive delegation. rejecting the ..... in crypto assets. it is submitted that, though this court held that, in view of the provisions contained in the rbi act, the banking regulation act, 1949 and the payment and settlement systems act, 2007, and also in view of the special place and role that the rbi has in the economy of the country, 50 the ..... v. nusli neville wadia [(2008) 3 scc279: (2007) 13 scr598) thus, in the context of a statute, the word any may be read as all in the context of the income tax act for which the power of transfer has been conferred upon the authorities specified under section 127. [emphasis supplied].123. the court again reiterated .....