Court : Delhi
..... the respectful view that the law as enunciated in kumar cotton mills (p) ltd. (supra) should also apply to the construction of the third proviso as introduced in section 254(2a) by the finance act, 2007. the power to grant stay or interim relief being inherent or incidental is not defeated by the provisos to the sub ..... -section. the third proviso has to be read as a limitation on the power of the tribunal to continue interim relief in a case where the hearing of the appeal has been delayed for acts attributable to ..... 333 itr96 had occasion to deal with a similar situation and entertained the writ petition. in the said case constitutional validity of the third proviso inserted in section 254(2a) of the act by finance act, 2008, w.e.f. 1 st october, 2008 was challenged it was observed that the proviso enacted a stringent provision as a result of which even .....
Tag this Judgment!Court : Delhi
..... the respectful view that the law as enunciated in kumar cotton mills (p) ltd. (supra) should also apply to the construction of the third proviso as introduced in section 254(2a) by the finance act, 2007. the power to grant stay or interim relief being inherent or incidental is not defeated by the provisos to the sub ..... -section. the third proviso has to be read as a limitation on the power of the tribunal to continue interim relief in a case where the hearing of the appeal has been delayed for acts attributable to ..... 333 itr96 had occasion to deal with a similar situation and entertained the writ petition. in the said case constitutional validity of the third proviso inserted in section 254(2a) of the act by finance act, 2008, w.e.f. 1 st october, 2008 was challenged it was observed that the proviso enacted a stringent provision as a result of which even .....
Tag this Judgment!Court : Delhi
..... of 26 15/2015-ce both dated 1st march, 2015. ec and she were also abolished and ceased to be payable on taxable services when section 95 of finance act (no.2) 2004 and section 140 of finance act, 2007 were omitted by finance act, 2015. the omission was to take effect from 1st june, 2015 vide notification no.14/2015-st dated 19th may, 2015. as a result ..... in the first schedule of the central excise tariff act, 1985 from whole of she leviable under section 138 of the finance act, 2007. in respect of taxable services, the finance act, 2015 had omitted section 95 of the finance (no.2) act, 2004, which imposed ec on taxable services, vide section 153 and section 140 of finance act, 2007 and she on taxable services vide section 159, with effect from the date as notified by .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2002)80ITD465(Delhi)
..... collection of excise duty and refund, etc. to the levy of special excise duty; which is not the position under section 40 of finance act, 1983. on the contrary, sub-section (7) of section 40 of finance act, 1983, makes the provision of section 40 as part of wt act, 1957, itself." in view of the vital difference in the language of two enactments we hold that the decision ..... contending that wealth-tax chargeable under section 40 of finance act, 1983, is nothing but wealth-tax chargeable under section 3 of 1957 act. he drew our attention to the provisions of section 40(1) of finance act, 1983, which itself says "wealth-tax shall be chargeable under wt act". he also referred to sub-section (7) of this section and submitted that section 40 of finance act, 1983, has been made part of .....
Tag this Judgment!Court : Delhi
Reported in : (2001)168CTR(Del)266; [2001]250ITR157(Delhi); [2001]116TAXMAN138(Delhi)
..... relevance to the present dispute. originally, the word 'deliberately' existed which was omitted by the finance act, 1964, with effect from april 1, 1964. an explanationn was inserted at the end of sub-section (1) of section 271, by the said finance act (section 40 of the finance act, 1964). in between, by the finance act, 1968, the base for levy of penalty became the amount of concealment as against the ..... quantum of tax sought to be avoided under the then existing provisions. subsequently, further amendments were brought by the taxation laws (amendment) act, 1975 (section 61 of the said amending act). four explanationns were substituted for the explanationn introduced by the finance act, 1964. the effect of the said amendment, so far as we are concerned, is that where, in respect of facts material to .....
Tag this Judgment!Court : Delhi
Reported in : (2004)87TTJ(Del)127
..... in other words, the charge in provision in the first schedule part-i pertaining to surcharge of income-tax does not include section 113. by looking at the finance act only while tax is charged under the act, even otherwise surcharge was not payable up to the assessment year 1995-96.in the light of above decision and by keeping ..... , viz., at the rate of 60 per cent, there was no question of increasing the same by surcharge as per the finance act, 1996. in the finance act, 1995, in so far as section 113 is concerned, there is no provision for charging surcharge on income-tax as per part-i of the first schedule. another reason is that para 'e ..... the remaining addition was sustained.4.2 the ground of the assessed in regard to surcharge was also dismissed by observing that finance act, 1999 provides for imposition of surcharge over and above the tax computed under section 113. accordingly the levy of surcharge was also sustained. now the assessed is in appeal here before the tribunal against the .....
Tag this Judgment!Court : Delhi
..... or fee or any other consideration, irrespective of the nature of use or application, or retention, of the income from such activity second proviso inserted to section 2(15) by finance act, 2010 with retrospective effect from 1.4.2009, reads as under:provided further that the first proviso shall not apply if the aggregate value of the receipts ..... 2000 to 2001-2002 notification no.243/2001 dated 14th aug 01.3. 2002-2003to 2004-2005 notification no.270/2003 dated 30th oct 03.4. 2005-06 to 2007-2008- notification no.310/2006 dated 3rd nov. 06. thus, there cannot be any dispute and the respondent accepts that the object and purpose of the petitioner society ..... did not intend to do so in future. thus there was violation of section 11(4) and (4a). thereby, the petitioner had violated proviso to section 10(23c)(iv) for assessment years 2007-08, 2006-07, 2005-06 and the petitioner does not meet the specified conditions of section 10(23c)(iv) for assessment years 2008-09 onwards. nature and character .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (2008)13STJ48CESTATNew(Delhi)
..... , clause (iv) of rule (1)(d) was substituted with effect from the same date i.e. 16.6.2005 the aforesaid explanation was deleted by section 68 of finance act, 2005 by which section 66a was inserted.5. on behalf of the revenue heavy reliance was placed on the order of this tribunal in the case of samoor glass ltd. v. ..... 2. the appeals are directed against the order of the commissioner (appeals) dated 23.7.2007 dismissing the appeals preferred by the appellants against the order of the assistant commissioner of excise.the dispute relates to levy of service tax under section 66 of the finance act, 1994, which provides for levy of service tax on the taxable services referred to in ..... cce, jaipur-i service tax stay application no. 965-966 of 2007 in service tax appeal nos.223-234 of 2007. it was submitted that in a similar .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1990)35ITD211(Delhi)
..... under the explanation that it is to be treated as an industrial company. since the assessee is an industrial company within the meaning of clause(c) of section 2(7) of the finance act, 1982 concessional rate of tax at 55% would be applicable for the assessment year under consideration. in this view of the matter, we uphold the order ..... even though mainly not so engaged, derives income in any year 51% or more of its total income from such activities.the explanation to clause(c) of section 2(7) of the finance act, 1982 contains a deeming provision as a result of which a company which, in fact, is not mainly engaged in the business of generation or distribution of ..... the assessee.7. we have considered the submissions made on behalf of the parties and have gone through the record of the case. clause (c) of section 2(7) of the finance act, 1982 defines "industrial company as a company which is mainly engaged in the business of generation of distribution of electricity or any other form or power or .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (2006)105TTJ(Delhi)501
..... the liability of penalty upon the assessee unless the legislature expressly provided for the same. as the finance act, 2002, made the amendment in section 271(1)(c) w.e.f. 1st april, 2003, it cannot be said that the amendment was clarificatory and, therefore, retrospective in operation. ..... otherwise expressly or by necessary implication. the return in the instant case was filed much prior to the amendment by the finance act, 2002. as per the law prevailing at that time, penalty under section 271(1)(c) was not to be levied if the assessed income is loss. therefore, the subsequent amendment cannot fasten ..... levied.13. on the other hand it was contended by senior authorised representative, mr. anil bhalla that the legislature, vide finance act, 2002, amended section 271(1)(c) w.e.f. 1st april, 2003, and modified clause (iii) after section 271(1)(c) after the sentence "in addition to tax", the words "if any" are inserted. similarly, the .....
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