Judgment Search Results Home > Cases Phrase: finance act 2007 section 52 amendment of section 193 Court: mumbai Page 2 of about 2,158 results (0.135 seconds)

Great Eastern Shipping Co. Ltd. Vs. Commissioner of Income-tax, Bombay ...

Court : Mumbai

Reported in : [1979]118ITR609(Bom); [1979]1TAXMAN393(Bom)

..... . 9 the relevant extracts from the finance act, 1957, finance act, 1958, and finance act, 1959, and has thereafter held that on a careful reading of the provisions of sub-clause (a) of clause (i) of the second proviso to ..... argument advanced on behalf of the assessee attractive at first glance, but in its view a careful scrutiny of the statutory provisions under consideration, viz., the respective finance acts, would suggest that the contention of the assessee was unsound and was required to be rejected. in its appellate order, the tribunal has set out in para ..... tribunal by the assessee's counsel that when the assessee had no assessable income for the assessment year 1957-58, the question of the application of the finance act did not arise and consequently other provisions in the relevant schedule would not apply. it was further submitted by learned counsel for the assessee that each .....

Collector of Central Excise Vs. Mihir Textiles Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1990)(30)LC491Tri(Mum.)bai

..... on a misconception of law. we have also held that the same statutory power is competent to decide on the show cause notice both under sec 51 of the finance act and under sec 11a of the cesa that the same power, by the mistaken impression cited a wrong provision (though not totally irrelevant or out of context), ..... (appeals) directs the assistant collector to examine whether 9 show cause notices, which are alleged to have been issued under sec. 51(2)(d) of the finance act, 1982, were so issued under the aforesaid section of the finance act and if so, they are not valid notices and the demands covered by these notices are not enforceable. he also ..... clearly indicates the legal position which the assistant collector is supposed to be aware of. notwithstanding this, if he has issued these show cause notices invoking sec 51 of the finance act, his action is to be construed as deliberate and on proper application of mind. the learned senior counsel also contended that irrespective of the motive, .....

M/S Rochem Separation Systems (i) Pvt. Ltd. Vs. Commissioner of Centra ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... the declaration filed by the applicant was rejected without affording an opportunity of hearing to the applicant. further, we find that as per the provisions of section 73 of finance act, 2010 in case the amount so paid is found to be less that the amount payable, the commissioner has to call upon the assessee to pay ..... are used in or in relation to manufactured of excisable goods and exempted goods. 5. the commissioner of central excise rejected the declaration filed under section 73 of the finance act on the ground that the applicant had not correctly reversed the credit attributable to input services used in or in relation to manufacture of the exempted ..... the period from march, 2005 to november, 2008. 3. the contention of the applicant is that provisions of rule 6 were retrospectively amended by section 73 of the finance act, 2010 and as per the provisions of retrospective amendment in case where the manufacturer is availing credit in respect of the common inputs common input services .....

Coral Cosmetics Ltd. Vs. Union of India (Uoi)

Court : Mumbai

Reported in : 2009[16]STR371

..... daga, j.1. the petitioners seek to challenge the constitutional validity of section 131 and 132 of the finance act, 1999. by section 131 of the finance act, clause (xxviii) was inserted in section 37(b) of the central excise act, 1944 (the act) with effect from 1st march, 1995. by section 132 of the finance act, 1999, sub-rule 57-f(17) as inserted by central excise ..... assessee had a vested right in the credit balance which was not taken away by substantive legislation. this lacunae came to be removed by sections 131 and 132 of the finance act, 1999 and said sections have only made small repairs by adopting permissible mode of legislation.31. the central government by notification no. 57/97-c.e. ( ..... the provision by which his (sic) (this) vested right has accrued in a manufacturer has not been altered in any manner. in other words, section 131 of the finance act, 1999 has not altered the basis of the judgment of the supreme court since it does not amend rule 57-a as such in his submission, .....

Godrej and Boyce Mfg.Co.Ltd. Mumbai. Vs. Commissioner of Income Tax,

Court : Mumbai

..... to all the facts and circumstances of the case. the change which is brought about by the insertion of sub sections (2) and (3) into section 14a by the finance act of 2006 with effect from 1 april 2007 is that in a situation where the assessing officer is not satisfied with the correctness of the claim of the ..... provisions for their enforcement : (i) sub section (1) of section 14a was inserted by the finance act of 2001 with retrospective effect from 1 april 1962; (ii) sub sections (2) and (3) were inserted in section 14a by the finance act of 2006 with effect from 1 april 2007; (iii) the proviso was inserted by the finance act of 2002 with retrospective effect from 11 may ..... be given to a rule so as to prejudicially affect the interest of the assessee. sub sections (2) and (3) were inserted into section 14a by the finance act of 2006 with effect from 1 april 2007. rule 8d was inserted by the income tax act (fifth amendment) rules 2008 which were published in the gazette on 24 march 2008. .....

Court : Mumbai

..... the cestat. 39. in support of the above submissions mr.sridharan has placed reliance upon the following materials:- (1) section 64 of the finance act, 1994, (2) section 65(105) of the finance act, 1994, (3) sections 66, 66a of the finance act, 1994, (4) the export of service rules, 2005 as amended from time to time, (5) the taxation of ..... doubt is raised that the service provided by the subsidiaries on site is provided outside india, but such doubt overlooks the deeming provision of section 66a of the finance act, 1994. that section not only deems the receiver of service as provider of service, but also deems that the recipient himself has provided the services in ..... press note dated 11.05.2007 are perused, then, it would be apparent that the services received by the appellants from the overseas subsidiaries will be deemed to be services provided by the appellants in india. mr.sridharan submits that the above legal fiction created under section 66a of the finance act, 1994 is not restricted .....

Shree Mulchand Co. Ltd. Vs. Commissioner or Income-tax

Court : Mumbai

Reported in : (1986)51CTR(Bom)195; [1986]162ITR764(Bom)

..... the claim of the assessee. the reference arises form the aforesaid decision of the tribunal.3. the material part of clause(c) of sub-section(6) of section 2 of the said finance act runs as follows :'industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity or any other ..... clause.5. it was submitted by miss patel, learned counsel for the assessee, that the expression 'processing' used in clause(c) of sub-section(6) of section 2 of the said finance act has a wider connotation than the term 'manufacture' and that for an activity to be considered processing, it was not necessary that the activity must ..... [1984]145itr387(cal) , the calcutta high court was called upon to consider the meaning of the term 'processing' used in the definition of 'industrial company' in section 2(7)(c) of the finance act, 1978. after analysing the decision of the supreme court in the case of chowgule & co. pvt. ltd. v. union of india : 1985ecr263(sc) , and .....

Bhawanidas Binani Vs. Commissioner of Wealth-tax

Court : Mumbai

Reported in : [1980]124ITR783(Bom)

..... to the allahabad high court, as regards the two amounts, which were subsequently disclosed under the voluntary disclosure scheme enacted and provided for by parliament under section 68 of the finance act, 1965, but which amounts were originally concealed by the assessee, the allahabad high court observed as follows (p. 904-905) :' now, admittedly, ..... power of parliament ; but the court proceeded to consider the argument observing that the concession was properly made and gave its reasons for the observation.20. section 68 of the finance act, 1965, once again came to be considered by a division bench of the allahabad high court in cwt v. b. k. sharma : [1977]110itr902 ..... and, indeed, it was observed that it had caused to the bench some anxiety before the conclusion was reached. as stated earlier, the provisions of section 68 of the finance act, 1965, have been carefully considered in the above decision and the following extract from the judgment may be usefully reproduced (p. 293):' if we .....

Commissioner of Income-tax Vs. Lokmat Mews Papers Pvt. Ltd.

Court : Mumbai

Reported in : [1995]216ITR199(Bom)

..... is placed before the specified date and that it is immaterial as to who placed the order-the assesses or its predecessor-in-interest. section 16(c) of the finance act clearly requires that the benefit of continuance of development rebate would be available only if the assesses furnishes evidence to the satisfaction of the ..... of the above contract, the machinery was purchased by it and installed in its business. according to the assesses, the expression 'assesses' appearing in section 16(c) of the finance act, 1974, includes the predecessor-in-business of the assesses. on the other hand, the contention of the revenue before the tribunal was that the assesses ..... of the assesses and, being of the opinion that the assesses-company was not entitled to development rebate in view of section 16(c) of the finance act, 1974, initiated proceedings under section 263 of the act and after hearing the assesses, passed an order directing the income-tax officer to withdraw the development rebate of rs. 1 .....

Gilbs Computer Limited (Formerly Gold Fish Computers P. Ltd.) Under Co ...

Court : Mumbai

Reported in : (2009)226CTR(Bom)19; [2009]317ITR159(Bom); [2009]184TAXMAN342(Bom)

..... filing of a large number of unnecessary appeals thus slowing down the disposal of the appeals and, hence, it was decided to enhance the limit.section 253(6) was once again amended by the finance act, 1999 and clause (d) was inserted in subsection (6). the object behind the amendment was explained in circular no. 779 dated 14th ..... lakh or less the fee payable would be rs. 1,500/. the circular explaining the provisions of the finance act, 1992 (see 198 itr(st.) @ 50) being circular no. 636 dated 31st august 1992 states thus:52 - the finance act has amended section 253 enhancing the fee to be paid for filing appeals before the incometax appellate tribunal. under the pre ..... which fee was increased to rs. 125/by the taxation laws (amendment) act, 1970 with effect from 1st april 1971. section 253(6) was thereafter amended once again and the quantum of the fee was increased to rs. 200/by the finance act, 1981.10. the finance act, 1992 changed the manner of computing the fee and it was provided that .....