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Virtual Soft Systems Ltd. Vs. Commissioner of Income Tax, Delhi-i

Court : Supreme Court of India

Reported in : (2007)207CTR(SC)733; [2007]289ITR83(SC); JT2007(3)SC125; 2007(2)SCALE612; (2007)9SCC665

..... between the liability to pay tax and the imposition of penalty was severed for the first time.39. it may be noted that the amendment made to section 271 by the finance act, 2002 only stated that the amended provision would come into force with effect from 1.4.2003. the statute nowhere stated that the said amendment was ..... tax on the amount by which the losses stood reduced.[emphasis supplied]28. it was because of these decisions that section 143(1a) was amended by the finance act, 1993 in exactly the same manner as the finance act, 2002 amended section 271(1)(c) and explanation 4(a). however, this amendment was retrospective with effect from 1.4.1989, not ..... year in question, being substantially the same except that in place of the word 'income' in sub clause (iii) to sub clause (c) of section 271 prior to its amendment by finance act, 1975, the expression 'amount of tax sought to be evaded' have been substituted. explanation 4 inserted for the purpose of clause (iii) where the expression .....

Tata Sky Limited Vs. the State of Uttarakhand and ors.

Court : Uttaranchal

..... accountants, cost accountants and architects was questioned by the appellants. the aforesaid tax was levied through the finance act, 1998, whereby sections 65, 66 and 68 of the finance act, 1994 were sought to be substituted, and section 67 of the finance act, 1994 was sought to be amended. by the aforesaid substitution/amendment, 'service' tax was levied on ..... service'. while adjudicating upon the controversy, the supreme court in all india federation of tax practitioners and ors. v. union of india and ors. : (2007) 7 scc 527 categorized entries in the union list of the seventh schedule of the constitution of india in two groups i.e., general entries and taxing ..... raised by the petitioner company through writ petition (m/s) no. 2562 of 2007 and writ petition (m/s) no. 353 of 2008, the term 'entertainment' was defined in section 2(g) of the entertainment act, 1979, as under:2. definitions.- in this act,-(g) 'entertainment' includes any exhibition, performance, amusement, game, sports or race .....

P.C. Joshi, Indian Citizen, A practicing Advocate and Others Vs. Union ...

Court : Mumbai

..... 4-a for advocates, the requirement of issuing such invoices within 14 days of completion of services, the provisions of section 77 of the finance act 1994 and the provisions of section 89 of the finance act 1994 as inserted by the finance act 2011 to the extent they require advocates to issue invoices at all, to issue invoices within 14 days of the completion ..... . in the case of all india federation of tax practitioners v/s. union of india [2007(7) s.t.r. 625 (s.c.)] it has been held that parliament has legislative competence to levy service tax by way of impugned finance acts of 1994 and 1998 under entry 97 of list i and accordingly imposition of service tax on ..... refer to some of the observations of the hon'ble supreme court of india. in all india federation of tax practitioners v/s. union of india reported in (2007) 7 scc while dealing with the legislative competence of parliament to levy service tax, the hon'ble supreme court made detailed reference to the test of sale-ability/ .....

Jodhana Real Estate Development Vs. Assistant Commissioner of Wealth

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)54TTJ(JP.)552

..... cases unless specifically provided for. there can be no intendment about the applicability of substantive law when the date of its applicability has been specifically provided for. sec.87 of the finance act, 1988 specifically provides that the amendment will be w.e.f. 1st april, 1989 thus, we reject the contention made on behalf of the assessee that ..... s. 7(3) of the wt act in s. 40(4) of the finance act has become redundant. the only effect of keeping this redundancy in s. 40 of the finance act is that schedule iii would be applicable in the case of the companies also. sec. 7 has been held to be a machinery section and schedule iii referred to therein a ..... for the remaining years under consideration were completed as mentioned below : 5. however, by the time these assessments were completed, s. 40(3) of the finance act, 1983 was amended by finance act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business carried on by it, such assets .....

Jodhan Real Estate Development Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (1996)56ITD90(JP.)

..... 0001986-87 1,91,36,8501987-88 2,26,58,7001988-89 2,66,75,000 5. however, by the time these assessments were completed, section 4(3) of the finance act, 1983 was amended by finance act, 1988, whereby it was provided that certain assets which were held by a company as stock-in-trade in a business carried on by it ..... had made substantial enhancement in the value of all the assets, the assessee has raised those grounds also in the present appeals.17. as per sub-section (4) of section 40 of the finance act, 1983, the basis for valuation is the open market price. the said open market price could be decided either by the assessing officer or the valuation ..... is changed, provided, of course, that no injustice is done.19. in the instant case, the proceedings not having reached finality as yet, and sub-section (4) of section 40 of the finance act, 1983 having been rendered redundant, we remand back the matter to the learned cwt(a) with a direction that the impugned properties be valued as per schedule .....

Commissioner of Income-tax, Madras Vs. Sundaram Industries Private Ltd ...

Court : Chennai

Reported in : [1969]71ITR380(Mad)

..... , is not established.in the light of the above well-settled guidelines, the relevant provisions of the finance acts of 1955 and 1956 have to be read and interpreted in the instant case. by section 15 of the finance act of 1955, section 23a was recast so as to, inter alia, increase the percentage of distributable dividends as one hundred per ..... the relevant assessment years in respect of such previous years end on or after the 31st day of march, 1956.'the finance act of 1956, which closely followed the above amendments, further amended section 23a of the main act so as to read in clause (b) of the proviso to sub-clause (1) stated above for the words 'where ..... referred :'(1) whether, on the facts and in the circumstances of the case, the order under section 23a was barred by limitation as provided by section 34(3) of the income-tax act ?(2) whether the amendment made to section 23a by the finance act, 1956, could not be applied to the assessee company for the assessment year 1955-56 ?'we .....

Commissioner of Income-tax Vs. Calcutta Steel Co. Ltd.

Court : Kolkata

Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)

..... may be that there being no export and profits in respect of import entitlements, the assessee was not entitled to deduction of tax as contemplated under section 2(5)(a)(i) of the finance act, 1965. in this case also, two views are conceivable as regards the interpretation of the expression 'sale proceeds' or 'turnover'. one view is ..... to 'referable to exports.'.10. the gujarat high court in the case of ahmedabad . v. cit : [1982]137itr616(guj) , construed the provisions of section 2(5)(a) of the finance act, 1964, regarding the profits derived from exports and held that cash subsidy or allowance given on export of goods is directly connected with the export of goods ..... v. wheel and rim company of india ltd. : [1977]107itr168(mad) , the question before the madras high court was whether under the provisions of section 2(5)(a) of the finance act, 1966, the cash subsidy and the income derived from the sale of import entitlements would form part of the profits and gains derived from the export .....

Futura Fibres and Futura Polymers Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu

..... valid and always to have been valid for all purposes, as validly and effectively taken or done" vide section 117 of the finance act, 2000. later on, the finance act, 2003, made certain amendments to the service tax provisions of the finance act, 1994, whereby the aforesaid assessees were required to present tax returns to the proper officer within six months ..... 12.05.2000 in show-cause notices dated 13.05.2002 and 14.02.2003. such demands are not affected by the amendments made to section 65 by parliament under section 116 of the finance act, 2000 and consequently they are hit by the apex court's ruling in laghu udyog bharati (supra). furthermore, undisputedly, the demands raised by ..... uoi [1999 (112) e.l.t. 365 (s.c.)] = (2002-tiol-162-sc-st). even otherwise, the demands are barred by limitation prescribed under section 73 of the finance act, 1994. the dr has reiterated the findings in the impugned order. ld. counsel has pointed out that an issue similar to the issue arising in these appeals .....

K. Sunil Kini Vs. Income Tax Officer, Ward 2(2),

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2006)6SOT139(Bang.)

..... receipt.however, he was of the view that the receipt is liable to be taxed as capital gains in view of the amendment effected to section 55(2)(b) by finance act, 1997. he, accordingly, directed the assessing officer to compute capital gains as long-term capital gains. still aggrieved, the assessee is in appeal ..... an absurd situation. if the legislature had intended the relevant amendments effected by the finance act, 1997 to make non-compete fees chargeable to capital gains tax, then, when the finance act, 2002 made such receipts taxable under section 28, it would also have amended section 55(2)(b) to remove the words 'right to manufacture, produce or process ..... which are effective from 1-4-2003.it is the appellant's case that the amendment effected by the finance act, 1997 has no bearing on the assessment under consideration.firstly, section 55 is not a charging section. secondly, under the agreement with praxiar, the appellant has not transferred any right to manufacture, etc. such rights .....

All India Haj Umrah Tour Organizer Association Mumbai Vs. Union Of Ind ...

Court : Supreme Court of India

..... to another. the taxable territory is defined in clause 52 of section 65b of the finance act to mean the territory to which the provisions of the relevant chapter service tax statutory provisions containing sections 64 to 114 of the finance act apply. sub- section (1) of section 64 of the finance act provides that the relevant chapter extends to the whole of india ..... favour of that which is exempted. consequently, for the reasons given by us, we agree with the conclusions reached by the impugned judgments [mother superior v. state of kerala, 2007 scc online ker 578]. , [unity hospital (p) ltd. v. state of kerala, 2010 scc53online ker 4679]. of the division bench and the full bench. (emphasis added ..... within the country.15. he relied upon a decision of cestat in the case of cox & kings india ltd. v. commissioner of service tax, new 3 2007 (7) scc52713 delhi4. he submitted that cestat has held that the outbound tours abroad are not liable to levy of service tax. he pointed out that the .....