Judgment Search Results Home > Cases Phrase: finance act 2007 section 8 amendment of section 12a Page 19 of about 13,292 results (0.712 seconds)

M/s. Sundaram Finance Limited Vs. The Deputy Commissioner of Income Ta ...

Court : Chennai

..... can be repeated successively for a period not more than 8 assessment years. 21. keeping the above in mind, if we come back to section 32-ab it could be seen that under the finance act, 1987, this section was amended. we are taking particular note of this amendment, in view of the fact that in the case on hand we are concerned ..... with the assessment year 1988-89. the explanatory note on the provisions of the finance act, 1987 contained in circular no.495 dated 22.9.1987 states that under the finance act, 1986, deduction under section 32-ab was allowed after setting off business loss if any, brought forward from earlier years and that in order to ..... in respect of the loss brought forward from the earlier years. hence, the second question of law, is even as per the plain language of section 32ab(1), as amended by finance act, 1987, has to be answered in favour of the assessee. 23. on the first question it is seen from para 4 of the order of the tribunal that .....

Associated Cement Company Limited Vs. State of Bihar and ors.

Court : Patna

..... 2007. the petitioner also claimed exemption under the provisions of the bihar finance act on the basis of the aforesaid industrial policy which was denied by the state and then he filed a writ application in this court and the same has been dismissed and the matter is pending before the apex court.4. section 3 of the act is ..... as follows:'where an importer of scheduled goods liable to pay tax under sub-section (2) of section 3 of the ordinance becomes liable to pay tax under the bihar finance act, 1981 by virtue of sale of such scheduled goods, his liability under the bihar finance act, 1981 shall be reduced to the extent of tax paid under the ordinance.' ..... the petitioner is not entitled to adjustment towards the payment of entry tax under the act.10. alternatively, learned counsel for the petitioner submitted that the petitioner is paying additional tax of one per cent under section 6 of the bihar finance act, 1981 and as such to that extent his liability for payment of additional tax has .....

Jacobus Johannes Liebenberg No. and Others Vs. Bergrivier Municipality

Court : South Africa Supreme Court of Appeal

..... from the date of its commencement 1 july 2004. after that date the municipality determined the rates payable in terms of the provisions of ss 22 to 24 of the finance act. section 22 makes provision for the publication of a municipalitys annual budget, and requires a municipality to invite the local community to submit representations in connection with the budget (s 22 ..... imposed and that the municipality could recover the amounts payable from the farm owners; but that the municipality had not complied with statutory requirements in imposing rates in the 2006/2007, 2007/2008 and 2008/2009 years and could thus not recover them. the high court granted leave to the farm owners to appeal in respect of the 2004/2005 and 2005 .....

Tata Sky Limited, Mumbai and Others Vs. the State of Tamil Nadu Throug ...

Court : Chennai

..... within the domain of the union government." further, the contention of the petitioner is that no state can levy entertainment tax on services covered under section 65(15) of the finance act, 1994 and 2001, as amended from time to time in respect of the same taxable event, i.e., provision of broadcasting services just ..... or a payment facility, per se, are not legally sustainable grounds for this differentiation made by the statute. 188. in this connection, the decision reported in [2007] 9 vst 401 (p.sankara narayanan vs. state of tamil nadu) needs to be seen, wherein, this court considered the differential tax treatment between films originally ..... the subject of entertainment lacked any differentiation on the entertainment as the chargeable event for differential tax treatment, then, as pointed out in the decision reported in [2007] 7 vst 714 (sc) (aashirwad films vs. union of india), the classification becomes ex facie arbitrary. the chargeable event in each one of these classifications is .....

Ashirvad Enterprises Vs. the State of Bihar and anr.

Court : Patna

..... counsel. s. o. no. 123 dated 5-3-1990 is as follows:the 5th march, 1990s.o. 123-in exercise of the powers conferred by section 22 of the bihar finance act, 1981 (bihar act no. 5 of 1981) part i, the governor of bihar on being satisfied that it is necessary to do so in the interest of the industrial growth ..... december, 1994 on the following conditions:1(a) the industrial units availing of the facility of the special rate of tax on purchase of raw materials under section 13 of the bihar finance act, 1981 shall not be eligible for the above set-off facility ;(b) this facility shall be limited to the corresponding conversion of the direct raw materials into ..... the said notification, the state government promulgated a fresh notification no. s.o. 123 dated 5-3-1990, in exercise of the powers vested in it under section 22 of the bihar finance act, 1981. the said notification dated 5-3-1990 is annexure t. the benefit of the said notification was afforded to existing and newly established small and/or .....

New Traders Vs. State of Kerala

Court : Kerala

Reported in : [2001]123STC82(Ker)

..... act, 1985 by virtue of which, the provision in the finance bill, 1998 by which, the purchase tax at the last point of sale with regard ..... be any doubt that in so far as the finance act authorises levy at the first point of sale, petitioners cannot contend that the act cannot be enforced against them. as already stated they have also not challenged the respective nature of the finance act. the contention urged by them is that a declaration was published under section 3 of the kerala provisional collection of revenues .....

Commissioner of Income-tax Vs. M. Manickasundaram

Court : Chennai

Reported in : [1996]220ITR133(Mad)

..... same expression 'an unregistered firm, which has not been assessed as a registered firm under clause (b) of section 183 of the income-tax act' is used (no doubt, with a rider 'and which... agricultural income') and the whole scheme of the relevant finance act in this regard may become unworkable. therefore, such an interpretation cannot be the correct interpretation. further, while rule 5 ..... ' as defined under section 2(48) of the act since in the relevant assessment years in question, the said firm was having only agricultural income which was not liable to tax under the act and thus the said firm was completely outside the purview of the act. (here, it must also be stated that as per another provision in the relevant finance acts, the terms 'unregistered .....

M.M. Parikh, Income-tax Officer, Special Investigation Circle-b, Ahmed ...

Court : Supreme Court of India

Reported in : AIR1967SC823; [1967]63ITR663(SC); [1967]2SCR38

..... urged before the high court, and the argument appealed to the high court, that an order under section 23a as amended by the finance act, 1955, and as further modified by the finance act, 1957, by the income-tax officer directing payment of additional super-tax was an order of assessment which could only be made before ..... the company, for declaring dividends in any year, the income-tax officer had to recompute the tax by reducing the rebate originally allowed. again by section 35(11), as added by the finance act of 1958, development rebate in respect of a ship, machinery or plant under s. 10(2)(vi-b) could be deemed to have been wrongly ..... is not less than the statutory percentage of the total income of the company as reduced by the amounts, if any, aforesaid;' 7. sub-sections (3) to (7) of section 23a as introduced by the finance act, 1955, were omitted. by this amendment, the scheme for imposing liability for payment of additional super-tax was not altered. 8. it was .....

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 .....

The Mysore Chipboards Limited and ors. Vs. State of Karnataka Represen ...

Court : Karnataka

Reported in : ILR2006KAR987

..... decisions taken in the industrial policy itself. in this view of the matter, any notification issued by the government order in exercise of power under section 7 of the bihar finance act, if is found to be repugnant to the industrial policy declared in a government order resolution, then the said notification must be held to ..... the relevant portion is as follows:coining to the second question, namely, the issuance of notification by the state government in exercise of power under section 7 of the bihar finance act, it is true that issuance of such notifications entitles the industrial units to avail of the incentives and benefits declared by the state government in ..... supreme court, in state of bihar and ors. v. suprabhat steel limited (1999) 112 stc 258 has held that issuance of a notification under section 7 of the bihar finance act, 1981, entitles industrial units to avail of the incentives and benefits declared by the state government in its own industrial incentive policy. but in the .....