Judgment Search Results Home > Cases Phrase: finance act 2007 section 47 amendment of section 143 Court: supreme court of india Page 4 of about 5,915 results (0.357 seconds)

income-tax Officer, a-ward, Indore Vs. Gwalior Rayon Silk Manufacturin ...

Court : Supreme Court of India

Reported in : [1975]101ITR457(SC)

..... notice of demand the liability of the assessee to pay the arrears arose only after the expiry of 35 days and this period had expired before the finance act, 1965, amending section 220(2) of the act and, therefore, the revenue had no jurisdiction to demand payment of the arrears at the rate of 6% interest. thus, it would appear that the high court ..... march 15, 1967 1,34,76,000 by march 15, 19683. soon after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965, by which the rate of interest was increased from 4% to 6% per annum. in view of this amendment, the income-tax officer by ..... -tax officer has no power to vary the rate on which the income of the previous year is to be assessed. the rate of tax is fixed by the finance act every year. by section 3, the tax is levied at that rate for an assessment year in respect of the income of the previous year. once the length of the previous year .....

The Income-tax Officer, 'A' Ward, Indore Vs. Gwalior Rayon Silk Manufa ...

Court : Supreme Court of India

Reported in : AIR1976SC43; (1975)2SCC721

..... notice of demand the liability of the assessee to pay the arrears arose only after the expiry of 35 days and this period had expired before the finance act, 1965 amending section 220(2) of the act and therefore the revenue had no jurisdiction to demand payment of the arrears at the rate of 6 per cent interest. thus it would appear that the ..... 15, 1967 rs. 1,34,76,000 by march 15, 1968,soon after the request of the assessee was granted by the income-tax officer, sub-section (2) of section 220 of the act was amended by the finance act, 1965 by which the rate of interest was increased from 4 % to 6 % per annum. in view of this amendment, the i. -t. officer by ..... -tax officer has no power to vary the rate on which the income of the previous year is to be assessed. the rate of tax is fixed by the finance act every year. by section 3, the tax is levied at that rate for an assessment year in respect of the income of the previous year. once the length of the previous year .....

Rajputana Agencies Ltd. Vs. Commissioner of I.T., Bombay

Court : Supreme Court of India

Reported in : AIR1959SC265; [1959]35ITR168(SC); [1959]Supp1SCR142

..... , 1952, provides that the provisions of section 2 of, and the first schedule to, the finance act, 1951, shall apply in relation to income-tax and super-tax for the financial year 1952-53 ..... , 1952 and 1953 shall be respectively substituted; and so in the present case we are really concerned with the material provisions of the finance act, 1951 (hereinafter called the act). 3. by its judgment delivered on march 29, 1956, the high court answered this question against the appellant and held that the ..... finance act, 1952, means the rate at which a company's total income is actually assessed or the rate prescribed by the respective finance act without taking into consideration the rebate allowed in the respective years in accordance with the provisions of the part 'b' states (taxation concessions) order, 1950 (hereinafter called the order). section 2 of the finance act .....

Madurai District Central Co-operative Bank Ltd. Vs. Third Income-tax O ...

Court : Supreme Court of India

Reported in : [1975]101ITR24(SC); (1975)2SCC454

..... ,845.47 was charged on rs. 51,763 only though for the purposes of rate the income was taken at rs. 9,48,335 in view of section 110 of the act. applying the finance act, 1963 (xiii of 1963), the respondent computed the residual income of the appellant at rs. 5,39,386 and levied on it an additional surcharge of rs ..... , learned counsel for the appellant relies on it very strongly. but that case, in our opinion, is incorrectly decided. the learned judges were in error in holding that section 2 of the finance act, 1963, 'does not provide for the levy of a tax other than income-tax ' and that, therefore, additional surcharge is not payable to the extent of the ..... at after deducting gross taxes (exclusive of additional surcharge) amounting to rs. 4,60,712 from the assessee's gross income of rs. 10,00,098. by section 3 of the finance act of 1963, no account can be taken of the additional surcharge in calculating any relief, rebate or deduction in respect of income-tax payable on the total income .....

American Hotel and Lodging Association Educational Institute Vs. Centr ...

Court : Supreme Court of India

Reported in : (2008)216CTR(SC)377; [2008]301ITR86(SC); JT2008(6)SC379; 2008(7)SCALE588; (2008)10SCC509; 2008AIRSCW4996

..... to the pa to impose such terms and conditions as it deems fit. the interpretation we have given is based on harmonious construction of the provisos inserted in 'section 10(23c)(vi) by the finance act, 1998. lastly, we may reiterate that there is a difference between stipulation by the pa of such terms and conditions, as it deems fit under the provisos ..... for fresh consideration in accordance with law as discussed hereinabove.45. accordingly, this civil appeal is allowed with no order as to costs.1 inserted by finance act 2001, w.e.f. 1.4.20022 inserted by finance act, 2001, w.e.f. 1.4.20013 inserted by the finance act, 2002, w.e.f. 1.4.20034 inserted by the finance act, 2007, w.e.f. 1.6 .....

Chatturam Horilram Ltd. Vs. Commissioner of Income Tax, Bihar and Oris ...

Court : Supreme Court of India

Reported in : AIR1955SC619; [1955]27ITR709(SC); [1955]2SCR290

..... quantification of the tax depend on the passing and the application of the annual finance act. thus, income is chargeable to tax independent of the passing of the finance act but until the finance act is passed no tax can be actually levied. a comparison of sections 3 and 6 of the act shows that the act recognises the distinction between chargeability and the actual operation of the charge ..... . section 6 says 'save as otherwise provided by this act, the following heads of income, profits and gains, shall .....

K.l. Swamy Vs. The Commissioner Of Income Tax

Court : Supreme Court of India

..... no liability to deposit tax along with the return. it is submitted that this lacuna was noticed by parliament and by the finance act, 1999, the words section 158bc have been inserted in section 140a w.e.f. 01.06.1999. it is submitted that for the period prior to 01.06.1999 the submission ..... and hence the entire :10. : block assessments would be rendered non est.} (ii) furthermore, the argument renders otiose the specific amendment in section 158bd adding the words under section 158bc vide finance act, 2002. if the department s contention is correct then this amendment was unnecessary. (iii) in any event, this argument does not answer the ..... the present assessee. 6.3 it is further submitted that the department s argument before the high court was that amendment in section 158bd vide finance act, 2002, introducing the requirement of issuing notice under section 158bc to the other person , applied even to pending proceedings is erroneous and against the constitution bench decision of this court .....

State of Kerala and ors. Vs. Ms. Mar Appraem Kuri Co.Ltd. and ors.

Court : Supreme Court of India

..... that the state of kerala were to obtain the assent of the president under article 254(2) of the constitution in respect of the insertion of section 4(1a) by finance act no. 7 of 2002. now, article 254(2) deals with the situation where state legislation is reserved and having obtained the president's assent, ..... the foreman of the chitty shall open a branch in the state and obtain sanction and registration under the provisions of this act. (*) as amended by finance act, 2002 (2) whoever contravenes the provisions of sub-section (1) shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend ..... the state but continued to operate in kerala. because of this, investor protection became difficult. consequently, section 4 of the said 1975 act was amended vide finance act 7 of 2002. by the said amendment, sub-section (1a) was inserted in section 4. this amendment intended to bring in chitties registered outside the state having 20% or more of .....

Deputy Commissioner Of Income Tax Vs. M/s Pepsi Foods Ltd. (now Pepsic ...

Court : Supreme Court of India

..... concerned, but mandatory so far as vacation of 9 the stay order is concerned, would lead to great hardship, the legislature stepped in again and amended section 254(2a) vide finance act, 2007 (w.e.f. 01/06/2007) as follows: 254. orders of appellate tribunal. xxx xxx xxx (2a) in every appeal, the appellate tribunal, where it is possible, may ..... we have already seen as to how, as correctly held by narang overseas (supra), the second proviso was introduced by the finance act, 2007 to mitigate the rigour of the first proviso to section 254(2a) of the income tax act in its previous avatar. ordinarily, the appellate tribunal, where possible, is to hear and decide appeals within a period of four ..... view that the law as enunciated in kumar cotton mills pvt. ltd. (supra) should also apply to the construction of the third proviso as introduced in section 254(2a) by the 12 finance act, 2007. the power to grant stay or interim relief being inherent or incidental is not defeated by the provisos to the sub .....

All India Federation of Tax Practitioners and ors. Vs. Union of India ...

Court : Supreme Court of India

Reported in : AIR2007SC2990; (2008)5CompLJ488(SC); (2007)211CTR(SC)449; 2007(120)ECC451; 2007LC451(SC); [2007]293ITR406(SC); JT2007(10)SC305; (2007)6MLJ1062(SC); 2007(10)SCALE178; 2007(7)SCC527

..... to the constitution and article 276 of the constitution.background facts3. on 1.6.1998 finance bill, 1998 was introduced in parliament. clause 119 of the notes sought to substitute sections 65, 66 and 68 and amend section 67 of the finance act, 1994 relating to service tax so as to levy a tax on services rendered by ..... 92c was also introduced in the union list for the levy of taxes on services. section 65(16) of the finance act, 1994 provided for definition of 'taxable service' to mean any service provided by stock-broker, telegraph authority, and by insurer. section 67 provided for valuation of taxable service based on gross receipts. in cases where value ..... say that the object of the finance act is also to fix rates of duty under different entries. however, the question which arose before this court in moti laminates (supra) was the meaning of the word 'goods' in central excise act, 1944. this court noticed that section 3 of the 1944 act levied duty on all excisable goods mentioned .....