Judgment Search Results Home > Cases Phrase: finance no 2 act 1980 section 2 income tax Court: chennai Page 9 of about 392 results (0.158 seconds)

Kikani Exports Vs. Commissioner of Central Excise, Coimbatore and Comm ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... far as revenue's appeal is concerned the dispute is now well settled that prior to introduction of section 66a in finance act, 1994, no demand for service tax from recipient of service under reverse charge mechanism as per rule 2 (1) (d) (iv) could be sustained ..... (bom) and held that service tax demand for the period prior to 18-04-06 when section 66a was introduced in finance act, 1994 is not sustainable. ..... a show cause notice was issued on 09-05-08 for demanding service tax and interest and also for imposing penalties under various sections of the finance act, 1994. ..... penalties under section 76 and 78 of finance act 1994 were imposed ..... of bombay high court was that rule 2(1) (d) (iv) of service tax rules, 1994 was ultravires the provisions of finance act, 1994. ..... to the appeal filed by the appellant-assessee, i find merit in their argument because they have already paid more than the actual tax liability which they need to have paid towards tax for the period from 18-04-06 to sept 06. ..... matter was pointed out to the assessee-appellant, they paid service tax along with interest for the period 16-06-05 to sept 06 totaling to tax amount of rs.5,74,831/- and interest of rs.23,197. ..... service of agents received and commission paid, appellant was not paying service tax during the period nov 04 to sept 06. ..... of the view that on such service received from persons located abroad, assessee-appellant should have paid service tax as per the provisions of rule 2(1) (d) (iv) of service tax rules, 1994. .....

Thirumal and Co. Ltd. Vs. Commissioner of Income-tax

Court : Chennai

Reported in : AIR1964Mad13; [1963]48ITR745(Mad)

..... tribunal the assessee urged that the provisions of the finance act under which the department reduced the rebate were in conflict with the provisions of section 23-a of the indian income-tax act, that while the assessee was obliged to declare a certain percentage of dividend out of its total income under section 23a of the act, it lost the benefit of rebate by its reduction under clause,(b) of the second proviso of the finance act, and that therefore the full benefit of rebate ..... swaminathan, learned counsel for the assessee, was at pains to point out that while section 23-a of the act taxes undistributed income of a company the finance act of 1956 indirectly taxes distributed dividends by reducing the rebate, and that the cumulative effect of these provisions places the ..... income shall be allowed in the case of any company which :(a) in respect of its profits liable to tax under the income-tax act for the year ending on the 31st day of march 1957, has made the prescribed arrangements for the declaration and payment within the territory of india, of the dividends payable out of such profits and for the deduction of super-tax from dividends in accordance with the provisions of sub-section (3-d) of section 18 of the act; and(b) is a public company with total income ..... appeal to the appellate assistant commissioner and urged the contention that the income-tax officer erred in applying the provisions of tile finance act in the matter of reducing the rebate under clause (b) of the second .....

Mediaone Global Entertainment Ltd. Vs. Chief Commissioner of Central E ...

Court : Chennai

..... section 83, certain provisions of the central excise act, 1944 have been made applicable to the finance act and section 37b of the central excise act is one such provision, which has been made applicable to the finance act and section 37b enables the 3rd respondent to issue instructions/clarifications to ensure uniformity in levy of service tax ..... vide section 65(105)(zzzzt) and also the amendment in section 65(104c), circular no.148/17/2011-st dated 13.12.2011 was issued under section 83 of the finance act read with section 37b of the central excise act issuing clarification regarding the levy of service tax on ..... section 66d of the finance act 1994 sets out the various services that are not liable to be taxed in the sense that they do not fall under the charging section ..... by directing the respondents 1 to 5 by not to give any effect to the circular no.148/17/2011-st dated 13.12.2011 issued by the 2nd respondent for the purposes of collecting service tax from the owners and not to treat the distribution or exhibition of films as a taxable service under the provisions of section 65 of chapter v & v(a) of finance act of 1994. ..... by directing the respondents 1 to 5 by not to give any effect to the circular no.148/17/2011-st dated 13.12.2011 issued by the 2nd respondent for the purposes of collecting service tax from the owners and not to treat the distribution or exhibition of films as a taxable service under the provisions of section 65 of chapter v & v(a) of finance act of 1994. .....

Core Minerals Vs. the Commissioner of Service Tax

Court : Chennai

..... case of the appellant that the department is not entitled to reject the value as per the agreement for providing mining services and 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 section 67(1)(i) of the finance act, 1994. 4.7. ..... 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 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. ..... 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. .....

A. Loganathan and Others Vs. A. Loganathan and Others

Court : Chennai

Reported in : [1995]214ITR202(Mad)

..... the constitutional validity of the provisions of section 2(2) of the finance act, 1976, providing for aggregation of 'agricultural income' with 'net income' for taxing only the 'net income', under the act, is, therefore, unassailable. ..... it is submitted that agricultural income is not income at all contemplated for the purpose of levy of tax under the income-tax act, 1961 (vide section 10(1) of the income-tax act, 1961), and consequently cannot be treated as income or even deemed to be income as forming part of the total income even for rate purposes. ..... it is submitted that total income has been defined in the charging section of the income-tax act, 1961, and the same meaning has been given to the terms in the finance act. ..... therefore, the contentions raised against the validity of sections 2(6), 2(7)(e) and part iv of the first schedule to the finance act, 1973, and sections 2(2), 2(7)(b)(ii), 2(8)(e) and part iv of the first schedule to the finance act, 1974, must be rejected and the petitions dismissed.' 5. ..... the learned judges of the kerala high court held as follows (headnote) : 'section 4 of the income-tax act read with section 10(1) shows that agricultural income is excluded from the charge of income-tax. ..... ito : [1980]121itr178(ker) and k. v. ..... 324 of 1980 alone need be looked into. .....

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

Court : Chennai

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

..... to section 65 of finance act and as such the provider is to collect 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 as contemplated under sections 12a and 12b of the central excise act, hence, the action of the second respondent is legally ..... in view of the discussions made above, the plea of the petitioner that provider of service shall pay tax from his income without collecting service tax from the user of services is unsustainable.11. .....

Tamil Nadu Hotels Association Vs. Union of India (Uoi)

Court : Chennai

Reported in : 2001(78)ECC584; 2001(133)ELT265(Mad); 2006[2]STR513

..... is common knowledge that while presenting the budget in the year 1994-95, the finance minister proposed to introduce a tax on certain services and pursuant to the same, chapter v of the finance act, 1994 introduced provisions for the levy of the tax known as the 'service tax', which was defined as the tax chargeable under the provisions of chapter v. ..... section 66 of the finance act, 1994 is a charging section ..... the only argument raised is that when a caterer or as the case may be an outdoor caterer offers catering services as contemplated in the then section 65(41)(n), he actually carried on the sale of the taxable articles like food or alcoholic or non-alcoholic beverages to the client and, therefore, the tax imposed on the sale price would amount to salestax and would be cover-able within article 366(29a)(f) and ultimately relatable to entry 54 of list ..... we, therefore, do not find that the impugned provisions particularly section 65(24), section 65(41)(n) and section 67(m) of the service tax act are in any way arbitrary or discriminatory.11. ..... argument was that the services included in taxable services within the meaning of section 65, as it stood then, as also the valuation of such service as defined in section 67 of the act took into its sweep the actual services offered to the client. ..... we have already held that the service tax provided under section 65(48)(m) is a valid tax and the provisions of section 65(22), (23) and (48)(m) are constitutionally valid by our judgment in w.p. .....

Commissioner of Income-tax Vs. Tamil Nadu Industrial Investment Corpor ...

Court : Chennai

Reported in : [1999]240ITR573(Mad)

..... in view that the explanation was omitted by the finance act, 1974, with effect from april 1, 1975, and if we accept the contention urged on behalf of the assessee that it is open to the assessee to rely upon the surplus reserve of earlier years, it will defeat the object behind the legislative intention in deleting the explanation to section 36(1)(viii) of theact. ..... opinion on the correctness of the view expressed by the punjab and haryana high court except to point out that under section 36(1)(viii) of the act, the special reserve should not only be created out of the income chargeable to tax, but must be carried to reserve account. ..... haryana high court dealt with a case of deduction under section 80c of the act and the court held that the amount of the life insurance corporation premium need not come out of the income chargeable to tax is not of any assistance to the assessee. ..... on the introduction of the finance act, 1974, financial corporations providing long-term finance to industrial and agricultural development in india were entitled to a deduction of the amount transferred by them out of the current profits to the special ..... explanation was omitted by the finance act, 1974, with effect from ..... : [1980]123itr619(mad) this court has taken a view that under the explanation to section 34(3) of the act, the deduction of development rebate should not be denied by reason only that the amount debited to the profit and loss account of the relevant previous year and credited to the reserve .....

The Commissioner of Wealth-tax Vs. M/S. Kumudam Printers Pvt. Ltd.

Court : Chennai

..... whether on the facts and in the circumstances of the case, the income tax appellate tribunal was right in law in exempting the property at no.20, hunters road, madras from the wealth tax, even though section 40(3)(vi b) of the finance act, 1983 states if the property used by director, manager and secretary as residential accommodation then it will not be exempt and the same will be included as taxable asset in the net wealth of ..... insofar as the premises allotted to the managing director of the assessee is concerned, the claim of exemption is made under section 40(3)(iv b) of the finance act and the said section reads as follows: any building and the land appurtenant to such building used as residential accommodation by any director, manager, secretary or any other employee of the assessee, such employee holding not ..... tamilnadu electricity board, inasmuch as the company had derived the benefit from the board by way of installation of transformer, it forms part of business and therefore, they are entitled to exemption from wealth tax in terms of section 40(3)(vi b) of the finance act. ..... door no.20 is concerned, it was the case of the assessee that since the premises was used for residential purpose of the managing director, who was an employee of the assessee, in terms of section 40(3)(vi b) of the finance act, 1983, it is entitled to exemption from wealth tax. ..... of this clause, relative shall have the meaning assigned to it in explanation to section 13 of the income-tax act. 5. .....

Joe Transport Vs. Commissioner of Central Excise, Trichy

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Chennai

..... in case penalty is held to be imposable, there is no case for imposition of penalty under section 76 as well as under section 78 of the finance act, 1994 as the appellants had not paid the tax merely on the ground that the customers had not paid the tax to them and there was no suppression of the value of the taxable service. 2. ..... imposed on the appellants under section 78 of the finance act, 1994 is set aside and the appellants are directed to pay the interest amount on the delayed payment of the tax forthwith as undertaken by ld.advocate ..... the view that, in the facts and circumstances of the case, imposition of penalty under section 76 of the finance act, 1994 meets the ends of justice. ..... under the circumstances, the provisions of section 73 (3) of the finance act, 1994 cannot be applied to the ..... he states that provisions of section 73 (3) of the finance act, 1994 should have been applied in the case of the appellants and no penalty ..... in this case for imposition of a separate penalty under section 78 of the finance act, 1994. ..... after hearing both sides, i find that the appellants have paid only part of the tax amount before issue of the show-cause notice and the remaining amounts have been paid during the ..... had not paid the full amount of the tax and interest thereon before issue of show-cause notice and hence the benefit of section 73 (3) cannot be allowed in their case. ..... of the fact that the subsequent amendment to the act has made the penalties under section 76 and 78 mutually exclusive. .....