Court : Kerala
Reported in : 2006(1)KLT72; [2006]144STC553(Ker)
..... was held that initiation of assessment proceedings and conclusion of the same should be within a reasonable time. it was in that background, the finance act, 1993 introduced amendments to section 17 providing that the assessments should be completed within a period of 4 years and as far as the assessments pending as on 1.4.1993 ..... filing necessary affidavits. the order reads as follows:leave granted.heard learned counsel for the parties. considering the addition of section 17a in the kerala general sales tax act, 1963 by the kerala finance act, 2000 and the facts stated in the rejoinder affidavit the impugned orders passed by the high court are required to be ..... shall be completed within a period of four years from the date of publication of the kerala finance act, 1993'. now section 17(6) read with section 17a leaves no room to interpret the provision contained in the second proviso to section 17(6) and the expression 'assessment pending' as limiting its application only to cases which were .....
Tag this Judgment!Court : Kerala
Reported in : [2003]129TAXMAN549(Ker)
..... contention, it is necessary to refer to the explanation added by the finance act, 2001. as per section 21 of the finance act, 2001 section 32 was amended as follows :'21. amendment of section 32-in section 32 of the income tax act, with effect from the 1-4-2002,(a) in sub-section (1), in clause (11),(a) in the first proviso, in ..... as follows :'even assuming that, by adding the explanation, the legislature has clarified or made clear or removed whatever ambiguity there was in section 9(1)(ii) of the income tax act, 1961, the finance act, 1983, itself has proceeded to give retrospective effect to the explanation only with effect from 1-4-1979. the clarification or declaration, ..... have ended there. but according to sri p.k.r. menon, learned standing counsel appearing for the revenue, the explanation inserted by amendment to section 32 by finance act, 2001 with effect from 1-4-2002 would take back to the position that whether or not the assessee claimed the deduction in respect of the .....
Tag this Judgment!Court : Kerala
Reported in : [1975]35STC52(Ker)
..... of the appellant or his daughters, nor assessment of such income, until the passing of the indian finance act of 1939, which imposed the tax for 1939-40 on the 1938-39 income and authorised the present assessment. by sub-section (1) of section 6 of the indian finance act, 1939, income-tax for the year beginning on the 1st april, 1939, is directed to be ..... charged at the rates specified in part i of schedule ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that 'for the .....
Tag this Judgment!Court : Kerala
Reported in : [2006]155TAXMAN483(Ker)
..... ltd : [2001]247itr209(sc) . the above two decisions are rendered in the context of interest levied under section 234a of the act and based on explanation 4 to the said section which now stands omitted by finance act, 2001 with retrospective effect from 1-4-1989. even though the interest levied on petitioners is not consistent with ..... referred decisions, the demand of interest based on assessed income is perfectly in order by virtue of the amendment to the act by finance act, 2001 whereunder explanation 4 was omitted from section 234a and explanation i was substituted by the new explanation specifically providing for levy of interest with reference to tax assessed under ..... falls short of the assessed tax.'the following explanation 1 is substituted by finance act, 2001 with retrospective effect from 1-4-1989.'explanation 1 : in this section 'assessed tax' means the tax on the total income determined under sub-section (1) of section 143 or on regular assessment as reduced by the amount of tax .....
Tag this Judgment!Court : Kerala
Reported in : 2012(2)KLT941; 2012(2)KHC683
..... not disclose as to the fate of such application.19. in the above circumstance, the first respondent/union of india is directed to consider ext.p11 under section 93 of the finance act, 1994, particularly in the light of similar exemptions stated as given to other similarly situated government departments like the state of rajasthan and pass appropriate orders in ..... i.e., the third respondent issued ext.p5 'summons' dated 19.03.2008, asking the petitioner to appear and furnish the details for the period from 2004-05 to 2007-08. on that day, the deputy commissioner appeared and sought for time by '30' days. just after two days, ext.p6 summons was issued on 10.04.2008 ..... specifies the exemptions from the operation of the said act, which in fact has been clarified by the insurance regulatory and development authority (irda ) vide ext.p3 letter dated 26.03.2007(in w.p.(c) 19981 of 2009) sent in reply to the letters dated 02.02.2007 and 08.03.2007 of the petitioner seeking for clarification, as to .....
Tag this Judgment!Court : Kerala
Reported in : 2012(3)KLT40(SN)(C.No.41); 2012(3)KLJ108
..... purpose. the said tax is evidently on the service and not on the service providers. though only a few entries were originally there under section 65, the list was widened subsequently as per the finance act, 1996, 1997,1998 and so on, with nearly 125 entries as on date. 8. security agencies were brought within the service tax ..... .e.f. 16-10- 98; though another class, 'man power recruitment agency' separately defined under section 65 was already brought under the net as per the finance act 1997 (act no.26 of 1997). w.e.f.07.07.1997. sec.65 (94) of the finance act defines the term, 'security agency' as follows: "'security agency' means any commercial concern engaged in ..... computation of tax and it is not a charge on the business, but on the service component as discernible from the decision rendered by the apex court reported in ( 2007) 7 scc 527 (all india federation of tax practitioners and others vs. union of india and others) . 6. mr. john varghese, the learned standing counsel appearing .....
Tag this Judgment!Court : Kerala
Reported in : [1972]84ITR30(Ker)
..... amount paid by the state government. the liability to tax is not imposed by the finance act, but by the income-tax act. as already observed the levy of super-tax has been authorised by section 95 of the income-tax act and the rate alone is prescribed by the finance act, 1964. the quantum of the amount to suffer reduction in the rebate in the ..... definition is not exhaustive and it cannot help us to understand or to interpret the word 'dividend' used in part ii of the first schedule of the finance act, 1964. counsel for the revenue relied on section 205 of the companies act, 1956, to support his plea that the reduction in rebate has to be on the sum of rs. 3,50,000 ..... , and the levy of supertax was regulated by part ii, paragraph d, of the first schedule read with section 2(1)(b) of that act. section 2(1)(b) of the finance act, 1964, reads:'2. income-tax and super-tax,--(1) subject to the provisions of sub-sections (2), (3), (4) and (5), for the assessment year commencing on the 1st day of april .....
Tag this Judgment!Court : Kerala
Reported in : (2003)182CTR(Ker)502; [2003]261ITR708(Ker)
..... is significant enough that the condition that the reserve fund should be maintained was inserted by the first time by finance act, 1997 and not before. thus, since the condition was inserted only by finance act, 1997 and as the said section came into force only w.e.f. 1st april, 1998, according to the counsel, it cannot be made ..... profession' before making any deduction under this clause carried to such reserve account:' 10. by the same finance act, w.e.f. 1st april, 1998, section 41 of the it act also was amended by insertion of a new provision namely sub-section (4a) to that section which reads as follows : '(4a) where a deduction has been allowed in respect of any special ..... reserve should be created in the previous year during which the machinery or plant was installed. an explanation was added by the finance act, 1966, by which it was declared that the deduction referred to under section 33 could not be denied by reason only that the amount debited to the p&l; a/c of the relevant .....
Tag this Judgment!Court : Kerala
Reported in : (1994)116CTR(Ker)15; [1994]207ITR598(Ker)
..... this aspect is of a very general nature and without reference to the relevant provisions of the statute, and in particular, explanation 2 to section 37(2a), which was introduced by the finance act, 1983, with retrospective effect from april 1, 1976. non-advertence to the above statutory provision had led to the error committed by the ..... not to other items or other expenses.17. in evaluating the above rival pleas, we have to bear in mind section 37(2a) and also the newly inserted explanation 2 to section 37(2a) by the finance act of 1983 with retrospective effect from april 1, 1976 (by way of amendment). explanation 2 aforesaid which had retrospective effect ..... to them will be 'entertainment expenditure' for the purpose of section 37(2) of the income-tax act, 1961. the appellate tribunal has failed to advert to or discuss the scope and effect of section 37(2), 37(2a) along with explanation 2, though the amendment to the finance act, 1983, which had retrospective effect from april 1, 1976, .....
Tag this Judgment!Court : Kerala
Reported in : [2009]316ITR306(Ker); 2008(3)KLT326; [2009]176TAXMAN277(Ker)
..... (2002) 258 itr 1 relied on by the assessee has no application. the next issue to be considered is scope of the explanation introduced to section 36(1)(vii) by finance act 2001 with effect from 1.4.1989. the explanation is to the effect that bad debt or part thereof written off as irrecoverable shall not include ..... back the amount in the course of proceedings completed under section 143(1)(a) of the act. since the scope of amendment to section 36(1)(vii) is involved, we extract hereunder clause (vii) of section 36(1) with the explanation introduced by finance act 2001 with effect from 1.4.1989.section 36(1) the deduction provided for in the following ..... counsel for the appellant is that as on date of completion of proceedings under section 143(1)(a), explanation to section 36(1)(vii) was not in the statute because though introduced with retrospective effect, it was in fact brought to the statute only by finance act 2001. against this, counsel for the revenue contended that even de hors the .....
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