Judgment Search Results Home > Cases Phrase: finance no 2 act 1977 section 6 amendment of section 11 Page 79 of about 11,008 results (0.719 seconds)

G.T.C. Industries Ltd. Vs. the Dy. Cit, Spl. Rg. 50

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... dismissing the appeal filed by the revenue, the hon'ble supreme court held: ...it is true that income by way of cash compensatory support became taxable retrospectively with effect from april 1, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. ..... 10,99,552/- claimed by the assessee and allowed under section 143(3) proceedings by the assessing officer, can be disallowed by invoking the provisions contained under section 154 of the income-tax act, 1961, and basing on the amendment made to section 36(1), clause (viii), which was amended by finance act, 2001? 2. ..... 10,99,552/- claimed by the assessee and allowed under section 143(3) proceedings by the assessing officer, can be disallowed by invoking the provisions contained under section 154 of the income-tax act, 1961, and basing on the amendment made to section 36(1), clause (viii), which was amended by finance act, 2001? 2. ..... devda [1977] 109 itr 484 clearly states that, while deciding a reference under section 256(1), the court must take into account such retrospective legislation. ..... [1977] 40 stc 73, was required to consider a case where, after the reference was decided by the high court and before the tribunal could act upon it, the law was amended retrospectively. .....

Gtc Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)105TTJ(Mum.)1010

..... under section 255(4) of the it act, 1961, asunder, for resolving the controversy by a third member to be nominated by the hon'ble president: whether, under the facts and circumstances of the case, the provision for bad and doubtful debt of rs. 10,99,552 claimed by the assessee and allowed under section 143(3) proceedings by the ao, can be disallowed by invoking the provisions contained under section 154 of the it act, 1961, and basing on the amendment made to section 36(1) clause (vii) which was amended by finance act, ..... . 10,99,552 claimed by the assessee and allowed under section 143(3) proceedings by the ao, can be disallowed by invoking the provisions contained under section 154 of the it act, 1961, and basing on the amendment made to section 36(1), clause (vii), which was amended by finance act, 2001? 2 ..... . 10,99,552 claimed by the assessee and allowed under section 143(3) proceedings by the ao, can be disallowed by invoking the provisions contained under section 154 of the it act, 1961, and basing on the amendment made to section 36(1), clause (vii), which was amended by finance act, 2001? 2 ..... 1st april, 1967, but that was by amendment of section 28 by the finance act of 1990 which amendment could not have been known before the finance act came into force. ..... . (1977) 40 stc 73 (sc), was required to consider a case where, after the reference was decided by the high court and before the tribunal could act upon it, the law was amended retrospectively .....

Commissioner of Income-tax Vs. Boots Company (i.) Limited

Court : Mumbai

Reported in : (1994)120CTR(Bom)85; [1995]214ITR175(Bom)

..... no surcharge on income-tax was levied on the assessee in view of the fact that the assessee availed of the option given to it under sub-section (8) of section 2 of the finance act, 1976, and deposited the amount with the industrial development bank of india ('idbi') as contemplated therein in lieu of surcharge. ..... , section 3 of the income-tax act, sub-section (8) of section 2 of the finance act, 1976, paragraph e of part i of the first schedule thereto and clause (8) of section 2, it becomes abundantly clear that surcharge under the above act ..... section 2 of the finance act, 1976, which deals with the charge of income-tax for the financial year 1977 ..... instant case, we find that the language of section 2(8) of the finance act is quite clear and unambiguous and not open ..... for consideration is whether the deposits made by a company with the idbi in terms of the provisions of section 2(8) of the finance act, 1976, can be treated as payment of 'surcharge on income-tax'. ..... on a perusal of the relevant provisions of section 2(8) of the finance act, the surtax act and the first schedule thereto, we find no ..... any sum with the idbi in terms of section 2(8) of the finance act is not one of the modes of payment ..... it was urged before us that :(i) section 2(8) of the finance act, 1976, creates a legal fiction which should be carried to its logical conclusion ; (ii) the interpretation placed by the assessee is reasonable and in consonance with justice and an interpretation contrary thereto would cause .....

All India Tax Payers Welfare Association Vs. Union of India (Uoi)

Court : Chennai

Reported in : (2006)205CTR(Mad)360; 2006[4]STR14

..... as contemplated under sections 12a and 12b of the central excise act, hence, the action of the second respondent is legally ..... service tax from the customer as contemplated under section 12a and 12b of the central excise act; that the petitioners laid their case without taking note of section 83 of finance act, 1944 and presented the case as if the second respondent is collecting the service tax in contravention of sections 65, 66, 68, and 70 of finance act without being aware of the subsequent amendments made to the said section namely section 71a; that the provider of service as assessee under section 65 of the finance act is to collect service tax from the user of service .....

S.K. Bose, Commissioner of Commercial Taxes Vs. the State of West Beng ...

Court : Kolkata

Reported in : [1966]18STC429(Cal)

..... section 25 of the bengal finance (sales tax) act, although couched similar to section 54 of the income-tax act, appears to differ in one very material respect, in that the expression 'in any record of any assessment proceeding or any proceeding relating to recovery of a demand prepared for the purposes of this act' is not to be found in section 25 of the bengal finance (sales tax) act. ..... it may be that the other documents required in the case formed part of the record of assessment but those documents are separately mentioned in section 25(1) of the bengal finance (sales tax) act, 1941, and are given protection against disclosure under that provision. ..... dutt, learned advocate appearing for the petitioner, has placed before us two decisions of the supreme court relating to the provisions of the indian income-tax act analogous to the provisions of section 25 of the bengal finance (sales tax) act, namely the decision in the case of charu chandra kundu v. ..... the commissioner of commercial taxes moved the learned chief presidency magistrate for reconsideration of his order for production of the documents on the ground that section 25(1) of the bengal finance (sales tax) act, 1941, was a bar against disclosure of the papers as directed. ..... since the summons under section 94 of the code of criminal procedure was issued by the learned magistrate without properly applying his mind to section 25(3)(a)(i) of the bengal finance (sales tax) act, his order cannot be sustained and is set aside. .....

Jagadish Prosad Agarwalla Vs. State of West Bengal and ors.

Court : Kolkata

Reported in : [1979]44STC412(Cal)

..... the commissioner under section 7(4) of the bengal finance (sales tax) act, 1941, has authority to amend from time to time any certificate of registration in accordance with the information furnished under section 16 or otherwise ..... commercial tax officer, 24-parganas charge, by his order dated 15th september, 1977, had ordered that the appellant's registration certificate be amended by including cement in the column provided for goods for resale under section 5(1)(aa) of the act. ..... therefore, by making an application for amendment in september, 1977, the appellant cannot contend that he should be granted coverage in respect of resale of cement with effect from the date of his original registration as a dealer (4th september, ..... already stated, he had applied only on 2nd september, 1977, for amendment of his said registration certificate. ..... petition inter alia for quashing the aforesaid revision order of the assistant commissioner, commercial taxes, howrah circle, and also the order of the commercial tax officer, 24-parganas range, dated 15th september, 1977, refusing his prayer for amendment of his registration certificate by inserting the commodity cement in the resale column under section 5(1)(aa) of the act with retrospective effect. ..... on 2nd september, 1977, the appellant had applied to the commercial tax officer, 24-parganas charge, stating that through oversight or through mistake by the commercial tax officer the item, cement, was not included in the registration certificate issued .....

M/S. Srd Nutrients pvt.ltd. Vs. Commissioner of cent.excise, Guwahati

Court : Supreme Court of India

..... . according to section 95(1) of finance (no.2) act, 2004 and section 140(1) of finance act, 2007, education cess and secondary and higher education cess are leviable and collected as service tax, and when whole of service tax is exempt, the same applies to education cess as ..... the explanation appended to notification dated 26.6.2001 included within the ambit of excise duty any special excise duty collected under any finance act when under finance act, 2004 it was ordained that education cess to be collected as surcharge on excise duty payable on excisable goods and shall be a duty of excise, it became a special duty of excise by way of education cess chargeable and collected under finance act, 2004 and fell within the ambit of clause (3) of explanation appended to notification dated 26/6/2001 ..... page 16 of 30 fact that excise duty is payable under the excise act, education cess and higher education cess are payable under the finance act, by virtue of section 11 thereof ..... are concerned with altogether different aspect which is associated with the aforesaid notification granting exemption from payment of excise duty.3) it so happened that vide finance act, 2004, the education cess and higher education cess were also imposed, which are surcharge on the excise duty. ..... therefore, even the legislative intendment underlying textiles committee (amendment) act and rules read with the preamble, aims and objects of the act was civil appeal nos ..... he also emphasised the 7 air1977sc2279: (1977) 40 stc497civil appeal nos .....

Wipro Ge Medical Systems Pvt. Ltd. Vs. the Commissioner of Service Tax

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

..... this portion of the order is attacked by the appellants on the ground that the provisions of section 67 of finance act clearly lays down that the value of any taxable service shall be the gross amount charged by the service provider for such service provided by him ..... 5) they referred to the definition of maintenance or repair services as provided under section 65(64) of the finance act, 1994 and stated that the service rendered by them gets covered in either part of the definition, in as much as there is a maintenance contract and they are also authorized person of the manufacturer to undertake such maintenance and ..... 16) penalty under the provisions of section 76 and section 77 of the finance act 1994 is not sustainable, since the service tax itself is not payable and hence, none of the provisions of the act has been contravened. ..... therefore, the supply of spares during the course of maintenance or repair undertaken during the period covered by the comprehensive contract would be treated as "sale" and they are entitled to the benefit of exemption under section 67 of the finance act, 1994 and notfitno. ..... therefore, it was alleged that the provisions of section 67, 68 and 70 of finance act has been violated. ..... 10) section 65(121) of the finance act, 1994, states that "words" and "expression" used but not defined in this chapter, but defined in central excise act, 1944 or the rule thereunder shall apply, so far as may be in relation to service tax as they apply in relation to duty of excise .....

JaIn Bidi Udyog and ors. Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2006)(113)ECC453

..... to service tax under section 65 of the finance act, 1994, by virtue of retrospective amendment made vide section 116 and 117 of the finance act, 2000. ..... the conclusion that the show cause notices issued to the appellants are not sustainable both under the provisions of section 73 as it stood on the date of issue of show cause notice and also under the provisions as amended by finance act, 2003. ..... section 73 has also undergone certain amendments by finance act ..... be closed on the above basis in view of subsequent amendment brought under the finance act, 2003 with retrospective affect. ..... were issued to the appellants subsequent to the amendment carried out by the finance act, 2003. ..... to all the appellants in january 2003 proposing to demand the service tax payable on the services received by them from goods transport operators under section 72 and 73 of the finance act, 1994. ..... section 69 as amended reads as follows: section 68(1) every person providing taxable service to any person shall pay service tax at the rate specified in section 66 in such manner and within such ..... 70, the provisons thereof shall not apply to a person referred to in the provisio to sub-section (1) of section 68 for the filing of return in respect of service tax for the respective period and service specified therein and such person shall furnish return to the central excise officer within six months from the day on which the finance bill, 2003 receives the assent of the president in the prescribed manner on the basis of .....

Michigan Engineers (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1986)19ITD45(Mum.)

..... according to him, section 32a(2)(b)(ii) as inserted by the finance act, 1977 is an enabling provision to extend the scope of investment allowance so as to entitle small-scale industrial undertakings to wider concessions and without ..... undertakings remain eligible for investment allowance even though they might be engaged in the manufacture of low priority items.the explanatory note on the provisions relating to direct taxes further highlighted the objective of the amendment as follows : the finance act has substituted sub-clauses (ii) and (iii) of clause (b) of section 32a(2) referred to above by two new sub-clauses. ..... this section was amended by the finance (no ..... on careful reading of the speech of the finance minister, the finance bill and the explanatory note issued in this behalf, it is perfectly clear that the amendment was introduced to encourage and assist the small-scale sector in keeping with the government's overall ..... 2) bill, 1977 proposed amendment of section 32a as follows : ..... amendment of section ..... that being the declared objective to be achieved by the amendment, it would be nugatory and will defeat the very object of the legislature if a narrow interpretation is given so as to confine the eligibility of small-scale industrial undertakings to only such machinery and plant used for manufacture or production of articles ..... 2) bill, 1977 to support his claim that the amendment was introduced to extend the scope of the concession granted to the small-scale industrial .....