Judgment Search Results Home > Cases Phrase: finance act 2007 section 132 amendment of section 37 Court: karnataka Page 7 of about 4,506 results (0.153 seconds)

V.raghuraman Vs. Joint Commissioner Of Central Tax

Court : Karnataka

..... there is an exemption, which aspect comes out clearly from clause-6(b) of the exemption notification2, which is passed in exercise of power under section 93 (1) of the finance act, 1994. the services rendered to a business entity with a turn over above rupees ten lakh would fall outside the purview of the exemption, however, ..... from sale of books, apart from income from profession. 16 it must be noted that the liability under section 73 of the finance act, 1994 provides for liability on "the person chargeable with service tax", section 66b of the finance act 1994 provides for levy of tax on "value of all services'. in terms of the negative list of ..... no.25/2012-st dated 20.06.2012 passed in exercise of power under section 93 (1) of the finance act, 1994 the central government has 12 exempted certain taxable services from the whole of the service tax leviable under section 66b of the finance act, 1994. amongst the services exempt, it includes services of legal professionals consisting of .....

The Commissioner of Income Tax Vs. M/S Prakash Electric Company

Court : Karnataka

..... mr.chythanya has submitted before us that clause (xiii) ita no.884/2007 c/w ita no.60/2015 date of order:23. 07-2018. the commissioner of income tax & anr. vs. m/s prakash electric company 13/30 of section 47 of the act is a beneficial provision introduced by finance act, 1998 with effect from 01.04.1999 to encourage corporatisation in the ..... firm sells or otherwise transfers any capital asset or intangible asset to the company. 49. inserted by the finance act, 2003, w.e.f.1-4-2004.50. inserted by the finance act, 2001, w.e.f.1-4-2002.51. inserted, ibid. ita no.884/2007 c/w ita no.60/2015 date of order:23. 07-2018. the commissioner of income tax & anr ..... the partnership firm, but, the successor company m/s prakash electric company private limited would be liable to pay such capital gains tax by virtue of section 47a(3) of the act inserted by finance ita no.884/2007 c/w ita no.60/2015 date of order:23. 07-2018. the commissioner of income tax & anr. vs. m/s prakash electric company 9 .....

Dr. Manickchand R. Tanga Vs. Commissioner of Income-tax

Court : Karnataka

Reported in : [1991]190ITR336(KAR); [1991]190ITR336(Karn)

..... who has the higher income.' 12. mr. chandrakumar contended that this explanation 2a is only clarificatory in nature and reflects the law as it stood even before the finance act, 1979, was enacted. we do not think so. if the explanation was clarificatory of the existing law, parliament would not have postponed its operation only from april ..... the very minors were earlier admitted to the benefits of the partnership and, subsequently, the trust was created, the appellate tribunal applied the provisions of section 64(1) of the act to the facts of the case. further, the tribunal held that the assessee being a doctor, actually derived income from the medical firms. paragraph 10 ..... placed on our file and after giving due consideration to the submissions made before us, are of the opinion that since the assessee is an individual, section 64 of act has application to the facts of the case. we hold so, with the result, the impugned order of the appellate assistant commissioner the above score also .....

Commissioner of Central Excise Vs. M/s. Godavari Sugar Mills Ltd.

Court : Karnataka Dharwad

..... as service tax of rs. 15,36,051/-, demanding recovery of cenvat credit of rs. 22,31,610/- along with interest at also proposed for imposition of penalty under section 76 of finance act, 1994 and rule 15(3) of cenvat credit rules, 2004, by the adjudicating authority vide order in original no. 11/2006 adc dated 31.10.2006 be upheld, etc ..... tax of rs.15,36,051/- and demanding recovery of cenvat credit of rs. 22,31,610/- along with interest and it was also proposed to impose penalty under section 76 of the finance act , 1994 read with rule 15(3) of cenvat credit rules, 2004. the assessee had replied to the show cause notice. the adjudicating authority vide order-in-original no ..... ,36,051/- and rs. 22,31,610/- along with interest thereon and penalty was also imposed in terms of the act and rules. 4. in the appeal against the said order the commissioner of appeals by his judgment dated 27.2.2007 allowed the appeal of the assessee based on the circular issued by the board dated 3.10.2005 and on .....

Koshy's Private Limited Vs. Commissioner of Income-tax, Karnataka

Court : Karnataka

Reported in : (1985)43CTR(Kar)175; [1985]154ITR53(KAR); [1985]154ITR53(Karn); [1984]18TAXMAN481(Kar)

..... in the circumstances of the case, the tribunal was right in holding that the applicant could not be treated as an industrial company within the meaning of section 2(8)(c) of the finance act, 1975 ?' 2. the assessee is a private limited company. for the assessment year 1975-76, it had income from departmental stores, bakery, restaurant and ..... industrial company for the purpose of getting the benefit of concessional rate of tax. 3. section 2(8) of the finance act, 1975, provides for rates of levy of tax in respect of the different types of companies mentioned therein. 4. section 2(8)(c) of the finance act, 1975, defines an 'industrial company' as follows : ''industrial company' means a company ..... 21. it may not be of context if we refer to the provisions of s. 80j of the act in which a hotel in included along with industrial undertakings or ships for the purpose of relief under that section. it is an indication of the legislative intent that a hotel does not ordinarily fall within the ambit of .....

Commissioner of Income Tax Vs. Khoday Industries Ltd.

Court : Karnataka

Reported in : [2006]285ITR523(KAR); [2006]285ITR523(Karn)

..... 60 per cent.5. in order to appreciate the rival contentions, it is necessary to have a look at the relevant provision as provided under section 8(c), finance act, 1984, and the finance act, 1985, which reads as follows:8(c)-'industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity ..... year is not less than fifty one per cent of such total income.2. the question as to the exact meaning of the explanation to sub-section 7(d) of section 2 of the finance act, 1966, came up for consideration and the board are advised that an 'industrial company' would mean-(i) a company which is mainly engaged ..... an 'industrial company' and the explanation appended to the said provision, earlier also, under the finance act of 1966, the board issued a circular no. 103, dt. 17th feb., 1973 which reads as under:under sub-section 7(d) of section 2 of the finance act, 1966, an 'industrial company' means a company which is mainly engaged in the business of .....

Commissioner of Income-tax and anr. Vs. Wipro Ltd.

Court : Karnataka

Reported in : [2009]319ITR156(KAR); [2009]319ITR156(Karn)

..... v. b.c. srinivasa setty : [1981] 128 itr 294 (sc) this court held that the charging section and the computation provision under the 1961 act constituted an integrated code. the mechanism introduced for the first time under the finance act, 1999, by which 'cost' was explained in the manner stated above was not there prior to april 1, ..... of the shares allotted to him on the day he exercised his option. even the cost of acquisition as 'nil' came to be introduced in the 1961 act by the finance act, 1999, only with effect from april 1, 2000. in fact, the later deletion of sub-clause (iiia) is an indicator of the ineffective charge.17. ..... the above definition of the word 'cost' introduced, vide sub-clause (iiia), the value of the option became ascertainable. there is nothing in the memorandum to the finance act, 1999, to say that this new mechanism would operate retrospectively. further, a mechanism which explains 'cost' in the manner indicated above cannot be read retrospectively unless the .....

State of Mysore by General Manager, Mysore Implements Factory Vs. Unio ...

Court : Karnataka

Reported in : AIR1968Kant237; AIR1968Mys237; (1968)1MysLJ178

..... on agricultural implements manufactured in its factory known as the mysore implements factory.(2) section 3 of the central excises and salt act, 1944, which will be referred to as the excise act, imposed excise duty on the excisable goods enumerated in schedule i to that act. by finance act xx of 1962, item 26-aa was added to that schedule. again, by ..... , after april 23, 1962. the foundation of the demand was clause (i) of item 26-aa as it was when it was introduced into the schedule by the finance act of 1962. that clause as is then stood reads:'item no. description of goods rate of duty 26aa iron or steel products, the following namely,-- five per cent, ..... the appellate authority and the central government functions as tribunals and do not figure as disputants.(20) it is of importance to observe that as stated in section 35 of the excise act, the central excise officer from whose order an appeal is permitted under s. 35 makes a decision or order. the appellate authority may confirm, alter or .....

Dhanvantari Botanicals Pvt. Ltd. Vs. State of Karnataka and ors.

Court : Karnataka

Reported in : (2007)10VST33(Karn)

..... this view of the matter, any notification issued by the government order in exercise of power under section 7 of the bihar finance act, if is found to be repugnant to the industrial policy declared in a government resolution, then the said notification must be held to be bad ..... is observed thus.para 7:- coming to the second question, namely, the issuance of notification by the state government in exercise of power under section 7 of the bihar finance act, it is true that issuance of such notifications entitles the industrial units to avail of the incentives and benefits declared by the state government in ..... is issued by the state government after such policy is approved by the cabinet itself. the issuance of the notification under section 7 of the bihar finance act is by the state government in the finance department which notification is issued to carry out the objective and the policy decisions taken in the industrial policy itself. in .....

indus Towers Ltd Vs. the Deputy Commissioner of Commercial Taxes and O ...

Court : Karnataka

..... it was in 1994 that service tax was levied for the first time as per chapter v of the finance act, 1994. section 66 thereof created charge of service tax in regard to taxable services. "service tax" is defined in clause (34) of section 65 to mean tax chargeable under the provisions of that chapter. taxable service is defined [under sub- ..... entered between essar telecom infrastructure private limited and vodafone essar limited and vodafone essar mobile services limited and others, which is styled as master services agreement on 23rd november 2007. the relevant clauses are as follows: 4.2 power supply 4.2.1 for each site dc power supply shall be continuously available within the specified voltage limit ..... a new taxable event nor imposing a new tax which was unknown in law." in the case of state of orissa and another versus asiatic gases ltd.,reported in (2007) 5 scc 766,wherein the apex court held at para 6 as under:- "6. secondly, it is not in dispute that under the contract in the present .....