Judgment Search Results Home > Cases Phrase: finance act 2007 section 47 amendment of section 143 Court: supreme court of india Page 11 of about 5,915 results (0.168 seconds)

Commissioner of Income-tax, Gujarat Vs. Girdhardas and Company Private ...

Court : Supreme Court of India

Reported in : AIR1967SC795; [1967]63ITR300(SC); [1967]1SCR777

..... could not be included in the expression 'dividend' : see sheth haridas achratlal v. commissioner of income-tax, bombay north, kutch and saurashtra, baroda : [1955]27itr684(bom) . by the finance act, 1955, the proviso to clause(c) was deleted and in consequence thereof the limitation relating to the period during which the profits were accumulated ceased to apply in the determination ..... comes out of that source or not is not a question dependent on s. 2(6a)(c) - s. 2(6a)(c) declares that though under law, apart from the section, it would be capital and, therefore, not chargeable, it shall be regarded as dividend and taxed as such in the hands of the shareholders.' 10. bakshi, j., substantially ..... if it is capable of being considered as dividend must be so held to be so.' shelat c.j. opined that s. 2(6a)(c) is not a charging section which levies tax on a particular fund from out of which a limited fund is carved out by the proviso. the learned chief justice observed : 'the legislative intent is .....

C.W.S. (India) Limited Vs. Commissioner of Income Tax

Court : Supreme Court of India

Reported in : [1994]208ITR649(SC); JT1994(3)SC116; 1994(1)SCALE840; 1994Supp(2)SCC296; [1994]2SCR247

..... the meaning assigned to it in rule 2(h) of part-a of the fourth schedule to the act.5. with effect from april 1, 1972, section 40a(5) was introduced in substitution of section 40(a)(v). as introduced by finance act, 1971, it read as follows:40a. expenses or payments not deductible in certain circumstances:-(5)(a) where ..... , of course, applicable only to companies and not to other assessees.2. section 40(c)(iii) introduced by finance act, 1973 with effect from april 1, 1963, as substituted by finance act, 1964, read as follows:40 amounts not deductible: notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted in computing the income ..... or any payment referred to in clause (ii) of sub-section (3) of that section or any payment referred to hi clause (iv) or clause (v) of sub-section (1) of section 36 shall not be taken into account.3. by finance act, 1968, sub-clause (iii) in clause (c) of section 40 was deleted and in its place sub-clause (v) .....

Commissioner of Income Tax Vs. Hindustan Bulk Carriers

Court : Supreme Court of India

Reported in : AIR2003SC3942; (2003)179CTR(SC)362; (2003)2MLJ65(SC); (2003)3SCC57; [2002]SUPP5SCR387

..... amount of tax calculated on the total income assessed in the earlier proceeding for assessment under section 143 or section 144 or section 147'.(underlined for emphasis)10. prior to substitution by finance act, 1987 w.e.f. 1.6.1987, the proviso to sub-section (1) read as follows:'provided that no such application shall be made unless the ..... particular situation it has done so like insections 139(8), 215(4), 216 and section 220(2a) of theact.4. prior to finance act, 1987, the corresponding sections pertaining to imposition of interest used the expression 'may' but the change brought about in the finance act, 1987 is a clear indication that the intention of the legislature was to make ..... rupees in the earlier proviso has been substituted by the expression 'one hundred thousand rupees' by the finance act, 1995 w.e.f. 1.7.1995. some changes were introduced by finance act, 1987 w.e.f. 1.6.1987 in sub-section (1b) and (1c) which do not have much importance for the present appeals.11. the commission .....

M/S. Kone Elevator India Pvt. Ltd. Vs. State of T.N. and ors.

Court : Supreme Court of India

..... .e.f. 11.05.2007. it should also be noted that section 65(29), 65(39a) and 65(105) (zzd) have nothing to do with manufacture and supply which ..... .09.2004 and 16.06.2005. in fact, the learned senior counsel also referred to the definition of erection, commissioning and installation as was inserted as sub-section (39a) to section 65 by the finance act (no.2) of 2004 w.e.f. 10.09.2004. the definition of the above provisions were made w.e.f. 16.06.2005. lastly, ..... provisions under the service tax act are of no assistance to the petitioner to hold that its manufacture, supply and installation of a lift is a works contract . .85. the above conclusion is de hors the position that sub-clause (zzzza) of sub-section 105 of section 65 came to be introduced under the finance act of 2007, which came into force w .....

M/S. Mahabir Cold Storage Vs. C.i.T., Patna

Court : Supreme Court of India

Reported in : AIR1991SC1357; (1991)91CTR(SC)89; [1991]188ITR91(SC); JT1990(4)SC754; 1990(2)SCALE1226; 1991Supp(1)SCC402; [1990]Supp3SCR469

..... provisions under the repealed act and the act. development rebate was first introduced by the finance act, 1955 with effect from 1st april, 1955, clause (vib) of sub-section (2) of section 10 of the repealed act was introduced by section 8 of the said finance act, which was subsequently amended by section 7 of the finance act, 1958 with effect from ..... 1st april, 1958 and then again it was amended by section 6 of finance act, ..... to tax as well as all its partners in their capacity as individuals if they have taxable income. the appellant is separately registered under section 26a of the act and assessed to tax from the assessment year 1960-61 and onwards. there is no re constitution of the original firm prayagchand hanumanmal inducting .....

Commissioner of Income-tax Vs. Hindustan Electro Graphites Ltd.

Court : Supreme Court of India

Reported in : (2000)160CTR(SC)8; [2000]243ITR48(SC)

..... of cash compensatory support became taxable retrospectively with effect from april 1, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. levy of additional tax bears all the characteristics of penalty. additional tax was levied as the ..... assessment year 1989-90 a sum of rs. 1,31,41,030 by way of cash assistance. since clause (iiib) was inserted in section 28, though having retrospective operation by the finance act, 1990, the assessee did not include this income in its return which, as noted above, was filed on december 29, 1989. the ..... mentioned therein is chargeable to income-tax under the head 'profits and gains of business or profession'. clause (iiib) in section 28 was inserted by the finance bill of 1990. the finance bill which ultimately became the finance act received assent of the president of india on may 31, 1990. clause (iiib) was given retrospective operation with effect from .....

Commissioner of Income Tax Vs. Hindustan Elector Graphites Ltd.

Court : Supreme Court of India

Reported in : [2000]109TAXMAN342(SC); [2000]243ITR48SC

..... of cash compensatory support became taxable retrospectively with effect from april 1, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. levy of additional tax bears all the characteristics of penalty. additional tax was levied as the ..... assessment year 1989-90 a sum of rs. 1,31,41,030 by way of cash assistance. since clause (iiib) was inserted in section 28, though having retrospective operation by the finance act, 1990, the assessee did not include this income in its return which, as noted above, was filed on december 29, 1989. the ..... mentioned therein is chargeable to income-tax under the head "profits and gains of business or profession". clause (iiib) in section 28 was inserted by the finance bill of 1990. the finance bill which ultimately became the finance act received assent of the president of india on may 31, 1990. clause (iiib) was given retrospective operation with effect from .....

M.m. Aqua Technologies Ltd. Vs. Commissioner Of Income Tax, Delhi - Ii ...

Court : Supreme Court of India

..... the liability and do not discharge the same. for some reasons or the other, undisputed liabilities also are not paid. 35.3 to curb this practice, the finance act has inserted a new section 43b to provide that deduction for any sum payable by the assessee by way of tax or duty under any law for the time being in force or ..... and any interest referred to in that clause which has been converted into a loan or borrowing shall not be deemed to have been actually paid. 1117. section 43b was originally inserted by the finance act, 1983 w.e.f. 1st april, 1984. the scope and effect of the newly inserted provision, at that point, was explained by the central board ..... reasoning of the itat in some detail and then the arguments of counsel for the appellant and respondent. in para 8, the judgment then set out section 43b with explanation 3c, which was inserted by the finance act, 2006 6 retrospectively w.e.f. 1.4.1989. the high court concluded, based on explanation 3c, as follows: 10. now, explanation 3c, .....

Kerala State Beverages Manufacturing And Marketing Corporation Limited ...

Court : Supreme Court of India

..... which can be disallowed under the said provision.10. sri ganesh, learned senior counsel appearing for the appellant by referring to explanatory note to the finance act, 2013, and section 40(a)(iib) of the act, has submitted that the levy of gallonage fees, licence fee and shop rental (kist) on fl 9 licence is not on any state ..... of it to the government by way of fees, taxes or similar such appropriations. from the relevant memorandum to the finance act, 2013 and underlying object for amendment of income tax act by act 17 of 2013, by which section 40(a)(iib)(a)(b) is inserted, it is clear that the said amendment is made to plug the possible ..... the income chargeable under the head profits and gains of business or profession . by the finance act, 2013 (act 17 of 2013), section 40 of the act is amended by inserting section 40(a)(iib), which has come into force from 01.04.2014. the said provision under section 40(a)(iib) reads as under : 40. amounts not deductible. notwithstanding any thing .....

P. Venkatarama Reddy Vs. the Controller of Estate Duty

Court : Supreme Court of India

Reported in : AIR1998SC2463; JT1998(5)SC1; 1998(4)SCALE200; (1998)6SCC153; [1998]3SCR806

..... duty. what is meant by the phrase 'in which deceased never had an interest'? the language of section 34(3) is similar to the language of section 4 of the english finance act of 1894 as amended by the finance act of 1900. section 4 of the finance act, 1894 is as follows:'for determining the rate of estate duty to be paid on any property passing ..... . he also made certain other settlements under none of which there was any chance of anything accruing to the settlor. the court, in examining the application of section 4 of the finance act of 1894 to decide whether the amount under the settlement could be aggregated with the other estate of the deceased-settlor, formulated a test to decide when it ..... his son. to the extent of the income from the free hold, premiums thereafter were paid by the son from such income. the premiums so paid were, by the finance act, 1939, section 30, attributed to the settlor. the settlor died and his son received under the policy 48,765. the court, for the purposes of .....