Judgment Search Results Home > Cases Phrase: finance no 2 act 1977 section 34 amendment of act 61 of 1956 Court: chennai Page 7 of about 92 results (0.150 seconds)

Core Minerals Vs. the Commissioner of Service Tax

Court : Chennai

..... the department has to first come to the conclusion that the provisions of section 67(1)(i) of the finance act, 1994 will not apply to the facts of the present case before proceeding to contend that there is an element of undervaluation. ..... derive a different value under rule 3 of the service tax (determination of value) rules, 2006, as the said provisions of service tax (determination of value) rules, 2006 will come into play only in a case that falls under section 67(1)(iii) of the finance act, 1994, whereas the transaction in the present case falls under ..... nevertheless, falling upon rule 3(b) of the service tax (determination of value) rules, 2006, overlooking the provisions of section 67(1)(i) of the finance act, 1994, may not be justified.7. ..... the back to back agreements entered into between the appellant and the service recipients was a method adopted by the appellant to suppress the value of services is also a question that should be answered in the appeal on considering section 67(1)(i) of the finance act, 1994. ..... raised by the appellant in this case on the question of law takes within its fold the primary issue as to whether the mining service agreement, which provides for consideration in money, can be straightaway rejected in the teeth of section 67(1)(i) of the finance act, 1994. ..... if a specific amount is charged by the service provider under the mining services agreement, that agreement has to be tested on its own merits in terms of section 67(1)(i) of the finance act, 1994. .....

Deputy Commissioner of Income Tax Vs. Indian Syntans Investments (P)

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2007)103ITD457(Chennai)

..... day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and (b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time-limit for making the assessment, reassessment or re-computation as ..... , 1995 in response to a notice served under section 148 and subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months as provided in proviso to sub-section (2) of section 143 before the amendment of said sub-section by the finance act, 2002, but the said notice is served before the expiry of the time limit for making the assessment, reassessment or recomputation as specified in sub-section (2) of section 153 of the act, such notices shall be deemed to be a ..... response to a notice served under this section and subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143 as it stood immediately before the amendment of said sub-section by the finance act, 2002, but before the expiry of the time-limit for making the assessment, reassessment or recomputation as specified in sub-section (2) of section 153, such notice shall be deemed to .....

Leaap International Pvt. Ltd. Vs. Commissioner of Service Tax

Court : Chennai

..... in the said decision, the service provider had taken out the registration under custom house agent under section 65(35) read with section 65(105)(h) of finance act and rendered services such as fumigation, loading and unloading, stuffing goods in containers, labour charges for stuffing, facilitating charges and also ..... pending appeal, assessee filed application for waiver of pre-deposit of tax of rs.1,38,23,529/- imposed under section 73(1) and also penalty of rs.1,38,23,529/- under section 78 of finance act raising the plea that they had not rendered any service which is an input for their clients and demand of tax under business auxiliary service is not sustainable and that the alleged extra ..... the assessee are classifiable under business auxiliary service under the category of procurement of goods or services which are inputs for clients and whether the same is taxable under section 65(19) of finance act have to be gone into and adjudicated upon by the cestat. ..... the charges which are collected in excess of ocean freight of rs.11,95,65,220/- for the period from october 2004 to december 2008 and the service tax payable is rs.1,38,23,529/- under business auxiliary service under section 65(19((iv) read with section 65(105)(zzb) of finance act. ..... the demand of service tax of rs.1,38,23,529/- being the service tax on the business auxiliary service rendered during the period october 2004 to december 2008 and also imposed penalty of rs.1,38,23,529/- under section 78 of finance act.4. .....

Commissioner of Central Excise Vs. Thiru Arooran Sugars Limited

Court : Chennai

..... meerut ii (2004) (61) rlt142wherein the bench had elaborately dealt with the effect of introduction of section 71a in the finance act 2003 and also section 73, as amended by finance act, 2003 and allowed the appeal. ..... limited, the judgment of the tribunal in l.h.sugar factories limited and others was affirmed by the apex court by holding that the liability to file return on the recipient of goods transport operator service is only under section 71-a of the finance act; since section 73 of the act does not cover the classes of persons coming under section 71-a of the finance act and it covered those cases falling under section 70 of the act, the show cause notices issued under section 73 of the act was not maintainable.3. ..... of central excise, meerut ii reported in 2004 (165) elt161(tri del) to the instant case by holding that liability under section 73 of the finance act, 2003 does not cover the case of the assessees on whom liability is cast under section 71a of the finance act, 2003 and such persons are not liable to pay tax?..".2. ..... of law:- ".when there is a charging provision under service tax rules in respect of availer of the services of goods transport operators and the recovery of service tax has been authorised (validated) in terms of provisions contained in the finance act, 2003 and the said tax is recoverable from such person which recovery is only under the authority of law through section 71a of the finance act, 2003, is the tribunal correct in applying the ratio of m/s. .....

Dr. K. Senthilnathan Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : (2005)96TTJ(Chennai)637

..... the cit(a) in his order stated that finance act, 2001, levied tax at the rate prescribed in section 113 as well as surcharge for the asst. ..... our opinion, this claim of the revenue is not justified because the proviso was added by finance act, 2002 and made effective from 1st june, 2002. ..... " this proviso was inserted by the finance act, 2002, indicating that it would be effective from 1st june, ..... he further noted that finance act, 2001, applied to income that had arisen during the previous year ending march, ..... 2000, which falls within the previous year ending 31st march, 2001, the surcharge that is made by finance act, 2001 is applicable. ..... in the case of assessment that is made with reference to provisions under section 158bc of the act, the loss cannot be allowed.he further submitted that for the loss that is stated to have been claimed, sufficient evidence is not ..... section 113 was inserted with a proviso that reads as under : "provided that the tax chargeable under this section shall be increased by a surcharge, if any, levied by any central act and applicable in the assessment year relevant to the previous year in which the search is initiated under section 132 or the requisition is made under section ..... on that basis the loss suffered by the assessee consequent to the fraud played on the assessee is outside the ambit of chapter xiv-b of the act. ..... is an appeal of the assessee that is moved with reference to assessment that was framed under the provisions of chapter xiv-b of the it act.2. .....

M. Ct. Bank Ltd. (In Liquidation) Vs. Commissioner of Income-tax, Madr ...

Court : Chennai

Reported in : [1963]48ITR678(Mad)

..... companies were not taken into account in fixing the rate applicable to the income of the company for the purpose of grossing up the assessees income from dividends and the rates mentioned in the relevant finance act were applied without any deduction, as has been done, the assessee would, in its assessment proceedings, have got credit for more tax as having been paid on its behalf by the company while ..... that 'the rate applicable to the total income of the company' in sub-clause (b) of clause (ii) of the explanation read with clause (ii) of the proviso to paragraph (b) of schedule i of the finance act of 1951, referred not to the rate prescribed by the act for the relevant year generally in reference to income of companies but to the rate actually applied in the given case and that therefore the rate at which the company was liable to pay ..... section 5 of the finance act of 1959 with effect 1st april, 1960, has substituted sub-section (1a) of section 12 of the income-tax act and, consequently, omitted section 16 (2) of the act ..... up was done by applying the rate fixed by the finance act, and subtracting therefrom the relief secured by the company under section 49d, the assessee would get relief on the basis of a lower rate of tax which means it would pay more on its income, but when the company distributes the relief secured by it under section 49d as dividend, it would be reimbursed to that ..... the reasons for this amendment in 1948 seems to be that while the finance act of 1947 levied a .....

Commissioner of Central Excise Vs. Burn Standard Co. Limited

Court : Chennai

..... the retrospective amendment in cenvat credit rule 6, done by section 73 of the finance act, 2010, the tribunal pointed out that the assessee had submitted necessary application as per section 73 of the finance act, 2010 and ..... as the present case is concerned, the claim of the assessee is not sustainable and the same has to be decided as per the then existing rule and the amended provision of section 73 of finance act, 2010 will not be applicable to the case on hand. ..... order of the central excise and service tax appellate tribunal by raising the following questions of law:- "(i) whether the appellate tribunal was correct in applying the amendment to rule 6 of the cenvat credit rules, 2004 vide finance act, 2010 which is applicable for the period from 10th september 2004 to 31st march 2008 whereas the period is dispute being april 2008 to december 2008. ..... a reading of the amendment made to rule 6 under section 73 of the finance act, 2010, shows that the amendment procedure of the cenvat credit under rule 6 ..... authority, the tribunal remitted the matter back to the adjudicating authority for deciding the matter afresh in the light of the amendment to the rules along with the application filed by the assessee under section 73 of finance act, 2010. ..... appeal by remanding the matter back to the adjudicating authority for deciding the matter afresh, in the light of the retrospective amendment to the rules along with an application filed by the assessee under section 73 of the finance act, 2010. .....

Commissioner of Income Tax Vs. K.S. Venkataraman and Co. (P) Ltd.

Court : Chennai

Reported in : (1999)155CTR(Mad)297

..... (2)(7)(c), according to the counsel, is that the activity in which the assessee is engaged should be an activity of a kind set out in the sub-section and as that is not the main activity of the assessee it cannot be treated as an industrial company. ..... 2mm in the total income of the previous year as computed before making any deduction under chapter vi-a of the it act is not less than fifty-one per cent of the total income, then such company is to be regarded as an industrial company.5 ..... 2) act, 1977, as follows :'industrial company' means 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 in the manufacture or processing of goods or in mining.explanation : for the purposes of this ..... 2) act, 1977, and observed that the burden lay upon the assessee to establish the requirement of that explanation, but the defendant had failed to adduce any material to establish that the income attributable to the manufacturing ..... 2(7)(c) of the finance (no. ..... (2)(7)(c) of finance (no. ..... the court thus took note of the possibility that the construction company could also be regarded as an industrial company for the purpose of finance (no. ..... 2(7)(c) of finance (no. ..... 2(7)(c) of finance (no. ..... 2(7)(c) of finance (no. ..... 2(7)(c) of finance (no. ..... 2(7)(c) of finance (no. ..... and from which activities of manufacture the assessee claims to derive 51 per cent of its income is a manufacturing company for the purpose of finance (no. .....

Commissioner of Income Tax Vs. Mrs. C. Malathy

Court : Chennai

Reported in : (2008)214CTR(Mad)173

..... 1st day of october, 1991 and ending on the 30th day of september, 2005 in response to a notice served under this section, and(b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the finance act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, re-assessment or re-computation as ..... return has been furnished during a period commencing on 1st of october 1991 and ending on 30th of september 2005 pursuant to a notice served under section 148 and a notice under section 143(2) has been served after the expiry of twelve months as specified under section 143(2) as it stood before the amendment under the finance act, 2002, but before making the assessment, every such notice shall be deemed to be a valid notice; in the circumstances, the order of ..... specified in sub-section (2) of section 153, every such notice referred to in this clause shall be deemed to be a valid notice:provided further that in a .....

Commissioner of Income Tax Vs. S.S.M. Processing Mills

Court : Chennai

Reported in : (1997)138CTR(Mad)106; 2003(156)ELT5(Mad); [1997]227ITR596(Mad)

..... ' entitled to the concessional rate of tax and that in the context of the statute which had used the expression 'processing' in contradistinction to or differently from the expression 'manufacture' the assessee-company was engaged in the act of processing the goods in terms of the finance act in force at the relevant time. ..... 2(7)(c) and 2(8)(c) of the finance act, 1973 and 1974 respectively. ..... 2(7)(c) of the finance act, 1973, the gujarat high court on the facts available on records, held 'that the assessee was carrying on business in ginning and pressing of ..... 2(7)(c) of the finance act, 1973, and, therefore, it was an 'industrial company' entitled to the concessional rate of ..... of india : [1986]162itr846(sc) , where, it was held that for the purposes of central excises and salt act, 1944, the expression manufacture was taken to include processes like bleaching; shrink proofing, grease resisting and the like. ..... while answering the said question, the allahabad high court held that there is inherent indication in the act which shows that, in its context, processed seeds must be treated as falling either in the category of manufacture or ..... it would not be reasonable or permissible for the court to rewrite the section or substitute words of its own for the actual words employed by the legislature in the name of giving effect to the supposed underlying object. ..... prior to amendment of the central excises and salt act, 1944. ..... (prior to 1980 amendment) of central excises and salt act, 1944. .....