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Poddar Pigments Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2003)(155)ELT484TriDel

..... modvat credit. the assessee, admittedly, reversed the credit within a period of 30 days from the date of demand. in view of clause (b) of sub-section (2) of section 112 of the finance act, 2000, no interest was liable to be paid by the appellants who reversed the modvat credit within 30 days from the date of demand. of course, ..... the position would have been different, if the revenue had issued a demand within 30 days from 12-5-2000.6. explanation to section 112 of the finance act is clear enough. no assessee had any liability to pay penalty on the ground of irregular availment of modvat credit on hsd oil for the period 16-3 ..... of modvat credit in respect of hsd oil as input or capital goods during the period december, 1997 to march, 1998, coming within the period covered by section 112(1) of the finance act, stands squarely covered against the appellants by the above provisions. the only surviving questions in this case are in relation to interest and penalty. clause (b) .....

Lake City Service Centre Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

..... paid by them. to that extent the order-in-appeal in this case is wrong and is set aside.7. in respect of penalty under section 76 and section 75a of the finance act, 1994 i find that the board vide its circular no.137/39/2004-cx.4 dated 20.9.2004 has directed field staff as follows: ..... , interest and penalty within 30 days of the date of the order-in-original. hence, they are eligible to claim the benefit extended under section 78 of the finance act, 1994. the appellate authority in his order-in-original has not considered the implication of this provision and has upheld the total penalty imposed under ..... 2003. the adjudicating authority confirmed the demand and also imposed equivalent penalty under section 78 of the finance act, 1994 and penalties under section 76 & 75a. the appellant discharged their service tax liability and interest under section 75 along with 25% of the penalty imposed under section 78 and preferred an appeal with the appellate authority. the appellate authority after .....

Ginni International Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2007)6STT491

..... person liable to pay service tax. it can be seen that till this retrospective amendment the payment of service tax under section 68 was to be made only by the service provider. after the retrospective amendment in finance act, 2003, the receiver of the services from g.t.o. was also made liable to pay service tax. since the ..... calculation of service tax liability would have been a bone of contention, the finance act, 2003, sought to insert a new section 71a to make the receiver of services of g.t.o. to file returns. this insertion was necessitated as the provisions of ..... sections 69 and 70 of finance act, 1994 applied only to service provider. by inserting section 71a, the finance act, 2003 made the service receivers to file return to the authorities to ascertain the service tax liability. the said section 71a also granted time of six months from the date of assent .....

Marine Engg. Services (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1990)34ITD77(Mad.)

..... refer to an assessee who is mainly engaged in the manufacture of articles as in the definition of an industrial company in the finance act. therefore, a reading of the provisions of section 32a confines it to a case of an assessee whose business is manufacture of articles.11. it was then contended on behalf of ..... and windows etc. could not be considered eligible for the investment allowance under section 32a. a comparison of the wording of this section with those sections 80j and 80hh as well as the definition of 'industrial company' in the finance act shows that this section 32a does not incorporate the defintion of a factory as in 80j or ..... these three appeals claiming that it is entitled to investment allowance under section 32 a, deduction under section 80j and concessional rate of tax under the provisions of the finance act.5. we may first consider the claim of the assessee for the deduction under section 80j in respect of profits and gains from newly established industrial undertaking .....

Bank of Credit and Commerce Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1991)37ITD293(Mum.)

..... the expression "whichever is the least" is used because three different types of expenses were considered possible at the point of time when this section was first introduced, i.e., by finance act, 1976 with effect from 1-6-1976. one such possibility which is spelt out in clause (b) is the average of head office ..... may be, apply in computing the income chargeable under the head "income from other sources". this would mean that the finance act, 1976 has amended section 58 of the act to secure that the ceiling prescribed under section 44d will be applicable even in cases where income by way of royalties or technical service fees received under the approved ..... in india by inflating their claims in respect of head office expenses. with a view to getting over these difficulties, the finance act, 1976 has inserted a new section 44c in the income-tax act laying down certain ceiling limits for the deduction of head office expenses in computing the taxable profits in the case of non-resident .....

Coimbatore Insulation Tapes (P) Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (2003)84ITD459(Chennai)

..... intended to cover receipts from sources other than the actual conduct of the business also for the purpose of the definition of 'industrial company' in section 2(8)(c) of the finance act, 1976.8. the assessee had been allowed depreciation on plant and machinery, while computing the income of business for the earlier years. by ..... to the assessee even on the income earned by leasing out the factory premises, the assessee would be entitled to tax at the lower rate. section 2(8)(c) of the finance act, 1976, states as under : "industrial company" means a company which is mainly engaged in the business of generation or distribution of electricity or ..... that was the main contention of the learned departmental representative.shri babu also drew our attention to the definition of industrial company appearing in section 2(8)(c) of the finance act, 1976, and submitted that for qualifying as an industrial company the assessee should be mainly engaged in the business of manufacture or processing of .....

National Agricultural Co-op. Vs. Joint Cit, Spl. Range 14

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2005)4SOT862(Delhi)

..... way of cash compensatory support became taxable retrospectively with effect from 1-4-1967, 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 assessee ..... mentioned therein is chargeable to income-tax under the head 'profit and gains of business or profession'. clause (iii)(b) in section 28 was inserted by the finance act of 1990. finance bill which ultimately became the finance act received assent of the president of india on 31-5-1990. clause (iii)(b) was given retrospective operation with effect from 1 ..... year 1988-89, a sum of rs. 1,31,41,030 by way of cash assistance. since clause (iii)(b) 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 29-12-1989.the assessing .....

Bengal Rowing Club and Anr. Vs. Commissioner of Service Tax, Kolkata a ...

Court : Kolkata

..... , a members club is outside the purview of such taxation. the issue as to whether a members club is liable to pay service tax under sections 65, 66 and 67 of the finance act, was considered by the jharkhand high court. in ranchi club limited (supra) it has held that, a members club is not liable to pay ..... the case of proprietary club. learned senior advocate for the petitioners draws the attention of the court to sections 66 and 67 of the finance act, 1994 as amended by the finance act, 2008. he submits that, section 66 provides for the charge of service tax. section 67 lays down the valuation of taxable services for charging service tax. he contends that ..... , section 67 sub-section (1)[i].,[ii].and [iii].requires a consideration to be passed. in the case of a .....

ScIndia Steam Navigation Co. Ltd. Vs. Commissioner of Income Tax, Bomb ...

Court : Mumbai

Reported in : AIR1955Bom230; (1955)57BOMLR98; [1954]26ITR686(Bom)

..... 1946 that imposed a liability upon the assessee to pay tax on this income at the rate mentioned in that act. when we turn to the finance act of 1946, sub-section (9) of section 11 makes-this provision:'for the purposes of this section and of the rates of tax imposed thereby, the expression 'total income' means total income as determined for ..... 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, indian finance act, 1939, income-tax for the year beginning on 1-4-1939, is directed to be ..... charged at the rates specified in part i of sch. ii, and rates of super-tax are also provided for, and by sub-section (3) it is provided that 'for .....

Commissioner of Income Tax Vs. N.J. Pavri

Court : Mumbai

Reported in : (1999)153CTR(Bom)134

..... gratuity received by an employee of a statutory corporation was equated to gratuity received by employees of central government, state government or local authority. sec. 10(10) as amended by the finance act, 1974, consists of three sub-clauses. retiring gratuities received by the employees of central government, state government and local authority are fully exempted ..... a maximum of twenty-four thousand rupees or fifteen months salary so calculated, whichever is less; 'a bare reading of the above section as it stood before amendment by finance act, 1974, shows that gratuity payment to employees of the government, local authority or a statutory corporation was totally exempted from payment of income ..... of rs. 30,000 will apply in relation to all other gratuities under s. 10(10)(iii) whether received from statutory corporations or private employers. the finance act, 1974, has come into force w.e.f. 1st april, 1975.5. in the light of the above discussion, submissions made by the learned counsel .....