Judgment Search Results Home > Cases Phrase: finance act 2007 section 47 amendment of section 143 Court: kerala Page 3 of about 645 results (0.117 seconds)

Bhagavathy Tea Estates Ltd. and ors. Vs. State of Kerala and ors.

Court : Kerala

Reported in : [1989]179ITR508(Ker)

..... to the statute.36. the assessing exercise could only be by looking at the extent as on the 1st of april and applying the rate as available by the finance act. there is little justification for hazarding a conclusion that the budget proposals made by the government in the month of march and the pronounced intention contained in the preamble ..... background of events, sub-section (3) of section 1 gave full efficacy to the taxing proposals, effective from 1-4-1960, by a simple sentence reading :'it shall be deemed to have come into force on the first day of april, 1960.' (emphasis* supplied)43. how come that a similar message was missed when the finance act of 1987 was published due ..... was made effective to section 10(2)(vii) of the indian income-tax act, 1922, as from may 5, 1946, the bombay high court held that that the amendment was not to be reckoned for the computation of the total income of the assessee for the assessment year 1946-47. the court held that it was the finance act of 1946 that .....

Commissioner of Income-tax Vs. Casino (Pvt.) Ltd.

Court : Kerala

Reported in : [1973]91ITR289(Ker)

..... agree with the view taken by the appellate tribunal that the assessee is an ' industrial company ' within the meaning of the definition contained in section 2(6)(d) of the finance act, 1968. we do not think that the activity carried on by the assessee in preparing articles of food from raw materials constitutes manufactureor processing of ..... at 65 per cent.6. an industrial company, as the definition points out, must belong to one or other of the categories mentioned in section 2(6)(d) of the finance act. that definition refers to four categories, namely :(1) a company mainly engaged in the business of generation or distribution of electricity or any other ..... activity of manufacturing. a company engaged in the process of manufacturing being included in the definition of an industrial company by the definition in section 2(6)(d) of the finance act, 1968, the assessee claimed that it should be taxed at the rate applicable to an industrial company. the appellate assistant commissioner found that .....

Goods Agro Chemicals and ors. Vs. Assistant Collector of Customs

Court : Kerala

Reported in : 1986(10)ECC178; 1986LC218(Kerala); 1987(32)ELT565(Ker)

..... of goods and the rate of duty are set forth in the first schedule of the act. the schedule was amended from time to time by the various finance acts.13. section 13 of the finance act 14 of 1961 inserted item 26a with effect from 1-4-1961 reading thus :-'26a. ..... sheets, circles, strips rs. 4,500/- perand foils in any form or size metric tonne.(3) pipes and tubes 20 per cent ad valorem---------------------------------------------------------------------------16. finance act 16 of 1981 inserted 1(b) to item 26a with effect from1-4-1981 reading thus :---------------------------------------------------------------------------- tariff description of goods rate of duty basicitem no. basic ..... was debated in depth. having regard to the opinion expressed by the law ministry, the legislature itself has, by amending item 26a by the finance act, 1981, specifically included copper scrap within the entry.' under the circumstances, it is difficult to accept the contention that the amendment was clarificatory .....

Commissioner of Income-tax Vs. Govindaraja Reddiar

Court : Kerala

Reported in : [1991]187ITR417(Ker)

..... , unhampered by the amendments effected in the statute by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989. the amendments so introduced later in section 43b of the act have made great inroads. in particular, the finance act, 1989, has inserted explanation 2 with effect from april 1, 1984, and the said ..... 6. in all the circumstances of the case, we are of the view that section 43b of the act, after the amendment by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989, and explanation 2 to the section which took effect from april 1, 1984, should be considered to give effect ..... originally inserted and also the amendments made thereto by the direct tax laws (amendment) act, 1987, the finance act, 1988, and the finance act, 1989. it was submitted that the amendment made in 1989 by the finance act, 1989, whereby the second proviso to section 43b was substituted as it exists today, took effect from april 1, 1989. it .....

CochIn Potteries (P) Ltd. Vs. Union of India (Uoi) and ors.

Court : Kerala

Reported in : AIR1964Ker18

..... of the provisions of the provisional collection of taxes act 1931.6. the bill became an act with certain modifications and amendments, as the finance act, 1961 act no. 14 of 1961. the act received the assent of the president on 29th april 1961, sub-section (2) of section 1 was to the effect.'save as otherwise provided in this act, sections 3 - 10 inclusive shall be deemed to have ..... of excise on all excisable goods in accordance with the sub-section. having regard to the provisions of the finance bill, 10 of 1961, read with the provisions of the provisional collection of taxes act, 1931, the provisions of the finance act, 14 of 1961, and the relevant provisions of the central excises and salt act, 1944, if under the relevant items the articles of the .....

Bharat Plywood and Timber Products Private Ltd. Vs. Kerala State Elect ...

Court : Kerala

Reported in : AIR1972Ker47

..... in respect of the remaining years to the original assessment itself. the challenge made is on the basis that section 2(18) read with section 2(41) and section 104 read with section 108 of the act and the provisions of the finance act, 1964 (5 of 1964), authorising levy of super-tax at a rate higher than 25 per cent, of ..... the total income, the finance act, 1966 (13 of 1966), authorising levy of income-tax at a rate higher than 55 per cent., the finance acts, 19 ..... companies are excluded from such liability. for closely held companies rates higher than those for widely held companies for assessment of tax have been fixed by the finance acts. in the finance act of 1964, for all companies other than the life insurance corporation of india, the rate of super-tax on the total income was fifty-five per cent .....

Secretary to Government Vs. Union of India

Court : Kerala

..... .(c).no.10423 of 2015 4 petitioners that the state, as a body, will not come under the coverage of the finance act, 1994, as amended, i note that, as per the specific provisions of section 65(b)(37) of the finance act,1994, as amended, the word "person" is defined as including, inter alia, "government". thus, as far as the ..... .p1 and p1(a) orders. counsel for the petitioner would point out that, by virtue of the provisions of section 66 b, the services rendered by the petitioner would fall under the negative list of services under the finance act, 1994 as amended. i note that, this aspect was not urged by the petitioner before the 2nd respondent in ..... applicability of the finance act, 1994, as amended is concerned, it would apply even in respect of services rendered by a state government, .....

Commissioner of Income-tax Vs. C.V. Divakaran Family Trust

Court : Kerala

Reported in : [2002]254ITR222(Ker)

..... that the rate on the maximum slab of income for association of persons is to be treated as the maximum marginal rate of tax for the purpose of section 164. the finance act for each year prescribes various slabs for each category of assessees and the corresponding rates of tax applicable. we find that the rate of tax on the ..... section 164 is the relevant section under which the assessee has to be assessed. it is the charging section by itself and all that it says is that the 'maximum marginal rate' of tax ..... of these references is as follows :'explanation 2.--in this section, 'maximum marginal rate' means the rate of income-tax (including surcharge on income-tax, if any) applicable in relation to the highest slab of income in the case of an association of persons as specified in the finance act of the relevant year.'4. there is no dispute that .....

Travancore Chemical and Manufacturing Co. Ltd. Vs. Commissioner of Inc ...

Court : Kerala

Reported in : [1994]206ITR118(Ker)

..... of 1977), which governs the assessment for the year 1977-78, in its turn, made a provision similar to sub-section (8) of section 2 of the finance act of 1976. the proviso to section 2(1) thereof laid down that, where an assessee, being a company, had made, during the financial year commencing on april 1, 1976, any deposit with ..... the industrial development bank of india established under the industrial development bank of india act, 1964 (18 of 1964), under the companies ..... as part of the income-tax referred to in rule 2 of the first schedule to the surtax act. the other member concurred with the decision on a different approach. she held that, as per section 2 of the finance (no. 2) act of 1977, no surcharge was payable by the assessee in this case, as the surcharge payable was .....

CochIn Commercial Bank Ltd., CochIn Vs. Commissioner of Income Tax, Ba ...

Court : Kerala

Reported in : AIR1960Ker375

..... year 1952, has been declared out of the accumulated profits from 1950 to 1952, and the income-tax officer, in levying the income-tax, has relied on section 2 of the finance act, 1953, which section directs application of the first schedule to the finance act 1951 for the purpose of the assessment. it follows that the assessment has been according to the provisions of the ..... . again, in motipur zamindari co. ltd. v. commissioner of income-tax : [1957]32itr606(patna) , it has been held that the provisions of the finance act should be construed in the context and background of sections 2, 3 and 4 of the indian income-tax act.therefore, the amount of dividend, referred to in paragraph b of part i of the first schedule to the .....