Judgment Search Results Home > Cases Phrase: finance act 2007 section 132 amendment of section 37 Court: karnataka Page 12 of about 4,506 results (0.572 seconds)

Binani Industries Limited Vs. Assistant Commissioner of Commercial Tax ...

Court : Karnataka

Reported in : [2006]145STC24(Kar)

..... . the court in the said decision, has noticed :the understanding of the law at the earliest point of time of its enactment cannot be ignored. the finance act, 1964, amended section 52(2) of the income-tax act, 1961 : this was understood in a particular manner by the central board of direct taxes, in a circular issued on july 7, 1964. in varghese v ..... tax accrues on the last date of the year of account on the taxable income of the previous year of a person at the rate or rates prescribed by the finance act of the year of assessment but the liability to pay sales tax arises the moment the transaction of sale or purchase is completed and at the rate specified under the ..... and the liability to tax arises not by reason of the provisions of the income-tax act but by reason of the fact that the finance act fixes the rate at which the assessee is liable to pay tax and it is by the reason of the finance act that the income of the previous year of the assessee becomes liable to tax. these principles .....

B.K. Suresh Babu S/O Late B.L. Kamalaraj Chetty, Vs. Smt. Ananthalaksh ...

Court : Karnataka

Reported in : 2009(3)KarLJ386; 2009(1)KCCR551; 2009(2)AIRKarR214; AIR2009NOC1286

..... territory in the year 1949-50, the respondent was chargeable in respect of his income whether derived within or without rajasthan. it was, however, argued on his behalf that section 3 of the finance act, 1950, having substituted the amended clause (14-a) 'with effect from the first day of april 1950,' rajasthan was not a taxable territory during the accounting year 1949 ..... held, while placing reliance on the principle in queen v. st. mary whitechapel as follows:15. nor can it be said, in strictness, that the finance act, 1950 is retroactive legislation. that act, as already noticed, purports by section 2 to charge income tax and super tax at specified rates 'for the year beginning on the 1st day of april, 1950'. the case is .....

M/s. Hindustan Petroleum Corporation Ltd. and Another Vs. Union of Ind ...

Court : Karnataka

..... writ petition is filed under articles 226 and 227 of the constitution of india praying to quash section 35f of the central excise act of 1944 as amended by section 105 of the finance act of 2014 and the said section 105 of the finance act of 2014 as being unconstitutional. this writ petition is filed under articles 226 and 227 of the ..... constitution of india praying to 1) declare section 35r of the central excise act, 1944 as amended by sec. 105 of the finance act (no.2), 2014 w.e.f. 6.8.2014 which provides for mandatory pre-deposit of 7.5% for first appeals ..... commercial usage for the period from july 2007 to march 2011. petitioner undertook construction of a project in the name and style of exora business park'. petitioner availed credit of service tax paid on various input services and has also undertaken to comply with the procedures as stipulated in the finance act, 1994 read with the service tax .....

Visalakshi Vs. Income-tax Officer, City Circle Ii, Bangalore and ors.

Court : Karnataka

Reported in : [1968]67ITR150(KAR); [1968]67ITR150(Karn)

..... there individual income of the dpeositor. the expression 'residual 'income' has, as stated in the explanation to section 4(3) of the act, the same meaning as that given to it by section 2(8) of the finance act, 1963. that sub-section defines the expression 'residual income' as the amount of the total income from which the amount of the ..... for its payment should be preceded by an assessment. so understood, he becomes a person by whom it is payable when the finance act charges it, and we fell disposed to read the section in that way without feeling hampered by a technical or other meaning which any expression occurring in it may have received in another ..... deposited or a certain proportion of his residual in come. the expression 'residual income' was defined by section 2 of the finance act, 1963 (act no. xiii of 1963). 3. we are not concerned with the other parts of section 4, such as, sub-sections (4) and (5) which were applicable to employees and persons liable to pay advance tax, since .....

Divisional Manager, New India Assurance Co. Ltd. Vs. Income Tax Office ...

Court : Karnataka

Reported in : (2005)195CTR(Kar)360; [2005]275ITR227(KAR); [2005]275ITR227(Karn)

..... before the tribunal.5. in the context of the submission, learned counsel has drawn my attention to the provisions of section 194a of the it act (for short 'act') and draws particular attention to clause (ix) of section 194a of the act inserted by finance act, 2003, w.e.f. 1st june, 2003, and submits that it is only thereafter the petitioner is required ..... aggregate of the amounts of such income credited or paid during the financial year does not exceed fifty thousand rupees.'*inserted by finance act, 2003, w.e.f. 1st june, 2003.reading of section 194a(1) of the act clearly indicates that any person, not being an individual or an huf who is responsible for distribution of interest which is ..... shall be deemed to be credit of such income to the account of the payee and the provisions of this section shall apply accordingly.(2) (omitted by the finance act, 1992, w.e.f. 1st june, 1992)(3) the provisions of sub-section (1) shall not apply-(i) to (viii) xxxxxx*(ix) to such income credited or paid by .....

Commissioner of C. Ex. Vs. Konkan Marine Agencies

Court : Karnataka

Reported in : (2009)221CTR(Kar)467; 2009[13]STR7; [2009]18STT115; (2009)22VST52(Karn)

..... for export. if that be so, even this circular does not help the appellant in any manner whatsoever.cargo handling service has been defined in section 65(23) in the finance act, 1994. the said definition reads as under:'cargo handling service' means loading, unloading, packing or unpacking of cargo and includes cargo handling services provided ..... the appellant, on admission. records perused.2. this appeal has been preferred by the revenue under section 35-g(2) of the central excise act, 1944 (hereinafter shall be referred to in short as the 'act') against the order dated 6-8-2007 passed by the customs, excise and service tax appellate tribunal, bangalore, (for short 'cestat') ..... in assessee's appeal no. s.t/75/2007.assessee had filed appeal against the order in revision dated 20-12-2006 passed by the .....

Shriram Chits (Bangalore) Limited. Vs. the Joint Commissioner of Incom ...

Court : Karnataka

Reported in : 2010(2)KCCR1006

..... ble apex court in ranchi club ltd. case and that the order of rectification was required to be passed by him in view of the subsequent retrospective amendment of section 234b of the finance act, 2001. accordingly an order was passed calling upon the assessee to pay a sum of rs. 1,06,48,211/-. being aggrieved by the order of rectification ..... taxes, has no application to the fact of this case. according to him, the hon'ble supreme court in commissioner of income-tax v. max india limited reported in : (2007) 295 itr 282 (sc) has taken a view at the relevant point of time when two views were possible, if the assessing officer has taken one view, but on ..... the judgment of the hon'ble supreme court in ranchi club limited he had not levied interest under section 234. but he has reopened the case based on the amendment of section 234b by finance act, 2001. from reading of the order passed under section 154, it is clear to us that while passing an order of assessment, the assessing officer had not .....

Widia (India) Ltd. Vs. Commissioner of Income-tax

Court : Karnataka

Reported in : (1991)98CTR(Kar)114; [1992]194ITR77(KAR); [1992]194ITR77(Karn)

..... the tax, which is one aspect. another facet of interpretation is to understand the word 'payable' in rule 2 in the context of the second proviso to section 2(6) of the finance act. the said proviso states that, in lieu of payment of surcharge... deposit may be made under the scheme. in other words, instead of the tax being paid ..... bank of india is repayable to the assessee after five years and the said deposit carries interest at the rate of 6% per annum. the proviso to section 2(6) of the finance act, 1976, referred to above, gives an option to the assessee either to pay the surcharge or make the deposit. it was contended by learned counsel for ..... (sb)). hence, this reference at the instance of the assessee. 3. the question arises because of certain provisions of the finance act, 1976, read with a scheme framed thereunder. as per the second proviso to section 2(6) of the finance act, 1976, an assessee, being a company, may in lieu of payment of surcharge on income-tax at the rate specified .....

Commissioner of Income Tax and anr. Vs. P. Surendra Prabhu

Court : Karnataka

Reported in : (2005)198CTR(Kar)209; ILR2005KAR5906; [2005]279ITR402(KAR); [2005]279ITR402(Karn)

..... voluntary retirement or voluntary separation and not 'termination' from service. the assessing authority, in our view, was wholly unjustified in arriving at this conclusion. section 10(10c) was inserted by finance act, 1987, w.e.f. 1st april, 1987 to exempt from income-tax any payment received at the time of his voluntary retirement by an ..... reason for introducing this provision is contained in the circular of the cbdt explaining the finance act, (1987) 168 itr (st) 94]. this clause provides that any ..... the clauses therein shall not be included. the several clauses in section 10 of the act specify different incomes, which would ordinarily be included in the total income of the assessee for the purpose of taxation but for such provision. section 10(10c) of the act is inserted by finance act, 1987, w.e.f. 1st april, 1987. the .....

K.N. Guruswamy Vs. Income-tax Officer, Special Circle, Bangalore

Court : Karnataka

Reported in : AIR1955Kant99; AIR1955Mys99

..... petitioner that the proceedings for re-opening ,the assessment of his income were for that reason incompetent.14. it is urged that even otherwise, after the enactment of the indian finance act section 13) which repealed the existing income-tax laws in force in mysore and with effect from 1-4-1950 any proceeding for re-opening the assessment made prior to that ..... prior to 1-4-1950. the decision of this court in those cases rested on the view that the word 'assessment' occurring in section 34 of the indian finance act. referred to assessment under section 23 and not proceedings under section 34. we adhere to that view and for the same reason we are of the opinion that in any view of the matter ..... the president of india on 28-2-1950, that is to say, 3 years before the income-tax officer commenced these proceedings. on and from 1-4-1950, by section 13, finance act of 1950, to which the president accorded his assent on 31-3-1950, the mysore income-tax laws stood repealed and the indian income-tax .....