Judgment Search Results Home > Cases Phrase: finance act 2010 section 14 amendment of section 44ab Court: andhra pradesh Page 1 of about 50 results (0.065 seconds)

Dandu Krishna Murthy Raju Vs. the Branch Manager of Max Newyork Life I ...

Court : Andhra Pradesh State Consumer Disputes Redressal Commission SCDRC Hyderabad

..... coming to the second ground urged by the complainant in the appeal, under section 66 of finance act, the service tax at the rates applicable will have to be collected by the person rendering service from the person or customer, in whose favour ..... partial withdrawal in life maker ulip policy dt.27.1.2005 bearing no.412480113 and accordingly the opposite party insurance company paid rs.49,838.92 to the complainant vide cheque bearing no.12997 and ex.b4 confirmation letter dt.22.3.2010 was also sent to the complainant .the contention of the opposite party is that on 9.3.2011, again they received a customer request for partial withdrawal in the same policy no. ..... hence the opposite party cannot modify the premium by imposing a part of service tax from 2009 and 2010 @ 1% and 2011 @ 1.5% and 3% surcharge on it, whereas the lic of india and sriram life are not ..... though ex.a1 is dt.26.12.2009, ex.a2 is dt.29.1.2010, the notification no.35/2011 relied upon by the complainant in his written arguments deals with amendment of service tax rules, which has come into effect only from first day of may,2011 whereunder an option is given to insurance company to pay in either ways provided thereunder, however it is made ..... foreclosure of the life maker unit linked investment plan, the opposite party contended that they received an application from the complainant on 8.3.2010 for partial withdrawal in policy no.412480113 and a cheque for an amount of rs.49,838.92 was sent on 13.3.2010 to the complainant. .....

M/S. Mauritius Commercial Bank Ltd., Thr Vs. M/S.Sujana Universal Indu ...

Court : Andhra Pradesh

..... thus, the petitioner has come to this court, seeking winding up of the respondent-company stating that the respondent-company had given a solemn guarantee under the amendment and restatement agreement dated 11.10.2012 and that events for invocation of the guarantee have admittedly occurred and there is a clear liability on the part of the respondent company to pay and that in spite ..... dear sirs, this has reference to the original facility agreement dated 9th day of november 2010 and subsequent amendment thereto dated 12th july 2011 entered by hestia holdings limited and mauritius commercial bank limited, corporate guarantee was executed by sujana universal ..... that the company petition filed under sections 433 (e), 434 (1)(b) and 439 of the companies act, 1956 is not maintainable since the companies act, 1956 is repealed by section 465 of the companies act, 2013 and that the provisions relating to winding up of companies have not yet been brought into force by notification issued by the government of india as required under section 1(3) of the companies act, 2013. ..... admittedly, hestia entered into a facility agreement dated 09.11.2010 with the petitioner and established a trade finance banking facility in favour of hestia up to a ..... hestia entered into a facility agreement dated 09.11.2010 with the petitioner bank under which the petitioner established a trade finance banking facility in favour of hestia up to a limit of usd10million (for ..... finances are advanced to the indian companies .....

M/S. Mauritiuscommercial Bank Vs. M/S. Sujana Universal Industrieslimi

Court : Andhra Pradesh

..... lender was entitled not only to file a civil suit for recovery of the debt due, but also to invoke the jurisdiction of the company court, under section 433(e) and section 434(1) of the act, on the ground that, despite a demand being made, the respondent-company had neglected to pay the amount admittedly due; and neglect to pay the ..... of the general right of a citizen, the statute should receive strict construction; for the purpose of enforcing a liability of an industrial concern, recours.could be taken both under sections 29 and 31 of the act; the default contemplated by section 29 was of the industrial concern; such a default created a liability on the industrial concern, and the liability arose when the industrial concern defaulted in repayment of any loan ..... (emphasis supplied).in their letter addressed both to hhl and the respondent- company on 06.09.2012, the petitioner referred to the facility agreement dated 09.11.2010 as amended and supplemented on 01.08.2011 for an aggregate amount of 20 million us dollars.to the corporate guarantee dated 09.12.2010 issued by the respondent guaranteeing the facility given to hhl for an aggregate amount of 10 million us dollars.and to the corporate guarantee dated ..... the respondent-company, entered into a facility agreement dated 9-11-2010 with the petitioner-bank whereby a trade finance banking facility was established in favour of hhl upto a limit of 10 million us dollars.on 9-12-2010, the respondent-company executed a deed of guarantee, .....

Karvy Consultants Limited Vs. Government of India

Court : Andhra Pradesh

Reported in : 2006[]STR75

..... information technology service' means any service in relation to designing, developing or maintaining of computer software, or computerized data processing or system networking, or any other service primarily in relation to operation of computer systems.section 65(19), as amended by finance act, 2004 with effect from 10-9-2004, reads thus :-business auxiliary service' means any service in relation to :-(i) promotion or marketing or sale of goods produced or provided by or belonging to the client; ..... in this writ petition, the petitioner seeks a declaration that section 65(19) of the finance act, 1994, as amended by the finance act of 2003, has no application to the petitioner's service namely 'registrar and transfer agency ..... the show cause notice was issued after strictly construing section 65(19) of the finance act, 2003, that the functions of the registrar and share transfer agent is a service rendered which is in the nature of incidental or auxiliary support service rendered in ..... transfer agent, is in the nature of incidental or auxiliary support service in the sale of goods (securities) belonging to the client and falls within the purview of section 65(19)(iv) of the finance act, 2003, that the impugned show cause notice merely demanded service tax on service charges collected by the petitioner towards such services rendered from 1-7-2003 to 31-1-2004, that .....

Nava Bharat Ferro Alloys Ltd. Vs. Union of India (Uoi)

Court : Andhra Pradesh

Reported in : (2005)186CTR(AP)451; 2005(185)ELT236(AP); 2006[3]STR565

..... to validate the imposition of the said tax and also in furtherance of rectifying the defects in law pointed out by the supreme court, the parliament amended sections 68 and 70 retrospectively and a new section 71a was inserted in finance act of 1994 to validate the collection of service tax from the users of goods transport operator services for the period from 16.7.1997 to 1.6.1998. ..... in sub-clauses (g), (h), (i), (j), (k), (l), (m), (n) and (o) of clause (41) of section 65 which are provided to any person by the person responsible for collecting service tax.sections 65(7), 65(18a) and 65(18b) of finance act, 2000 reads as under:section 65(7) : 'assessee' means a person liable for collecting the service tax and includes-(i) his agent; or(ii) in relation to services provided by a clearing and forwarding agent, every ..... transport operator' means any commercial concern engaged in the transportation of goods but does not include a courier agency.section 65(41)(m): 'taxable service' means any service provided (a) xx xx xx (b) xx xx (c) xx xx xx (m) to a customer, by a goods transport operator in relation to carriage of goods by road in a goods carriage.section 66(3) : 'with effect from the date notified under section 84 of the finance act, 1997 (26 of 1997), there shall be levied a service tax at the rate of five per cent of the value of the taxable services referred to .....

Commissioner of Income-tax Vs. Beehive Engineering Co. and Allied Indu ...

Court : Andhra Pradesh

Reported in : (1996)136CTR(AP)321; [1996]221ITR561(AP)

..... the question as to the exact meaning of the explanation to sub-section (7)(d) of section 2 of the finance act, 1966, came up for consideration and the board are advised that an 'industrial company' would mean - (i) a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or ..... interpreting the said definition, the division bench observed as follows (page 811) : 'for holding that the assessee in an 'industrial company' as defined in section 2(6)(c) of the finance act, 1969, it must be held that it is 'mainly engaged in the processing of goods'. ..... the division bench was concerned with the definition of 'industrial company' contained in section 2(6)(c) of the finance act, 1969, which is in pari materia as the definition under consideration. ..... proper question on these facts should be 'whether the assessee-company is an 'industrial company' within the meaning of section 2(7)(c) of the finance act, 1978;' and accordingly we reframe the question as noted above. 10. ..... before we construe the definition of the 'industrial company' in section 2(7)(c) of the finance act, 1978, it would be useful to notice the findings of fact recorded by the tribunal. ..... reads : 'interpretation of the term 'industrial company' as given in the explanation to sub-section (7)(d) of section 2 of the finance act, 1966. '.... ..... may be appropriate to note here the provisions of section 2(7)(c) of the finance act, 1978 : '2(7)(c). .....

Karvy Consultants Ltd. Vs. Asstt. Commr. of Cus. and C. Ex.

Court : Andhra Pradesh

Reported in : 2006[]STR7

..... it is also contended that the petitioner is covered by the definition of 'banking and other financial services' under section 65 of the finance act, 1994 as amended by the finance act, 2001, in view of it being granted the certificate of registration under section 45-i(f) of the reserve bank of india act. ..... on a conjoint reading of section 45-i(f) of the reserve bank of india act read with sections 65(73), 65(11), and section 65(90) (zm) as they stood prior to amendment by the finance act, 2004, it was only a non-banking financial company which had as its principal business the receiving of deposits, under any scheme or arrangement or lending in any other manner, which could be said to be providing taxable service rendering it ..... sub-clause (zp) as incorporated by finance act, 2002 with effect from 16-8-2002 and sub-clause (zm) as amended by finance act, 2004 with effect from 10-9-2004 read thus:(zp)to a customer, by a body corporate other than the body corporate referred to in sub-clause (zm), in relation to banking and other financial services. ..... in this writ petition the petitioner seeks a declaration that section 65(90) read with 65(11) of the finance act, 2001 has no application to the petitioner company upto 16-8-2002 and to consequently interdict the assistant commissioner of customs and central excise, hyderabad-ii commissionerate (1st respondent) from proceeding further with the show cause notice .....

The Andhra Pradesh Federation of Chit Funds, a Public Society Rep. by ...

Court : Andhra Pradesh

Reported in : (2008)220CTR(AP)28; (2008)17VST128(AP)

..... , chit fund fall within the mischief of expression 'cash management', as amended under sub section 12 of section 65 of the finance act, 2007 and consequently under the impugned circular issued by the respondents is valid?10 ..... under the finance act, 2007, which came into effect from 1.6.2007, the sub-clause 5 of section 65(12) of finance act, 1994 was amended with the deletion of the expression 'it does not include cash management' ..... venkata ramana, learned senior counsel appearing on behalf of the petitioner mainly contended that merely because of deletion of certain expressions under the aforesaid sub clause (12) of section 65 of the finance act, 2007, the nature of business done by the petitioner cannot be roped in, as long as the levy is not made specifically in respect of such transactions in clear ..... petitioners specifically raised a plea in the affidavit filed in support of the writ petition that at the time of introduction of the service tax before 1994 or later when the finance act has undergone amendment and during the discussions of the budget proposals, no indication was given by the finance minister to extend the provisions of service tax to the chit funds business. ..... further, it has been pointed out that as per section 41(1) of the reserve bank of india act, 1934, chit funds are categorized as financial institutions and therefore sub clause 12 of section 65 of the finance act, 2007 by deletion of expression 'cash management' attracts the levy of service on chit fund .....

A.P. Federation of Chit Funds Vs. Union of India (Uoi)

Court : Andhra Pradesh

Reported in : 2009[13]STR350

..... , chit fund fall within the mischief of expression 'cash management', as amended under sub-section 12 of section 65 of the finance act, 2007 and consequently under the impugned circular issued by the respondents is valid?9 ..... under the finance act, 2007, which came into effect from 1-6-2007, the sub-clause (5) of section 65(12) of finance act, 1994 was amended with the deletion of the expression 'it does not include cash management' ..... venkataramana, learned senior counsel appearing on behalf of the petitioner mainly contended that merely because of deletion of certain expressions under the aforesaid sub-clause (12) of section 65 of the finance act, 2007, the nature of business done by the petitioner cannot be roped in, as long as the levy is not made specifically in respect of such transactions in clear ..... petitioners specifically raised a plea in the affidavit filed in support of the writ petition that at the time of introduction of the service tax before 1994 or later when the finance act has undergone amendment and during the discussions of the budget proposals, no indication was given by the finance minister to extend the provisions of service tax to the chit funds business. ..... further, it has been pointed out that as per section 41(1) of the reserve bank of india act, 1934, chit funds are categorized as financial institutions and therefore sub-clause 12 of section 65 of the finance act, 2007 by deletion of expression 'cash management' attracts the levy of service on chit fund .....

K. Venkata Reddy Vs. Commissioner of Income Tax, A.P.ii, Hyd. and Anot ...

Court : Andhra Pradesh

Reported in : 2001(4)ALD51; 2001(4)ALT160

..... therefore, it would be appropriate to look into the exact provision, which contemplates the payment of the tax, after receiving the intimation.section 90 of the finance act provides for determination and payment of the tax in pursuance of the declaration filed under section 88 of the finance act, which reads as under:90. ..... it was held by the gujarat high court that the language of section 67(1) of the finance act is very clear that the declarant has to make payment of tax within three months from the date of filing of the declaration and the department could not insist that the period should be counted in days ..... said declaration was for the assessment years 1993-94 and 1994-95, showing the tax arrears at rs.74,390/- and rs.1,14,598/- respectively, a certificate of intimation in form 2-a under section 90(1) of the finance (no.2) act, 1998 was issued to the petitioner. ..... the dispute is whether the said presentation of the cheque on 27-3-1999 would amounts to the payment of tax within the time prescribed under section 90(2) of the finance act, 1998. ..... petitioner contended that though the tax payable under the scheme was paid on 30-3-1998, he was not granted a certificate under section 68(2) of the finance act, 1997. ..... under the direct tax enactment or indirect tax enactment under which the proceedings against the declarant are or were pending shall be deemed to have been revived; provided further that the designated authority may amend the certificate for reasons to be recorded in writing. .....