Court : Rajasthan
Reported in : (1984)41CTR(Raj)21; [1984]149ITR487(Raj)
..... it may be pointed out that according to the scheme of the finance acts at the relevant times, income from business, property and other sources were charged to tax at the rate prescribed by the finance act of that year, while salaries, interest on securities and dividends were taxed at the rate prescribed in the finance act of the preceding year. ..... section 2(3)(a) of the finance act of each of the years 1952, 1953, 1954 and 1955 provided that in case the total income of an assesses included income from dividends, in respect of which the assesses himself would be deemed to have paid income-tax imposed under the act by virtue of the provisions of section 49b of the 1922 act, such assessee shall be deemed to have paid income-tax on that part of the total income at a rate applicable to the total income of the assessee in the immediately preceding ..... below :'our answer to the first question referred to this court is that the assesses is entitled to the benefit of concision or rebate under para, 6a of the part b states (taxation concessions) order, 1950, in the course of reassessments under section 34 of the indian income-tax act, 1922, in respect of the whole of the dividend income, including the actual dividend income received by him, irrespective of the fact that the question of allowing such concession or rebate in the computation .....
Tag this Judgment!Court : Rajasthan
Reported in : (2002)176CTR(Raj)177
..... in exercise of the powers conferred by section 93 of the finance act, 1994, the central government has exempted in the public interest the taxable services other than of auditing and accounting provided by a practising chartered accountant in his professional capacity to a client from the whole of service-tax leviable thereon vide notification dated 7-10-1998. ..... (3) with effect from the date notified under section 88 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 in sub ..... mathur, j.by this judgment three writ petitions filed under article 226 of the constitution of india challenging the constitutional validity of the provisions of finance act by which service offered by the chartered accountants, real estate agents (property dealers) and the architects have been brought under the tax net, which is to be charged at 5 per cent of the value of the taxable services provided by them.since the question involved in all the three writ petitions is ..... the common ground of challenge in all the three writ petitions is the constitutional validity of the provisions of the finance act by which the services offered by the professionals like chartered accountants, architects and property dealers have been brought under the tax net on the ground of lack of legislative competence of the parliament and discrimination inasmuch as the legislature has picked and chosen some professions and left out .....
Tag this Judgment!Court : Rajasthan
Reported in : [2003]264ITR529(Raj); 2006[3]STR344; 2002WLC(Raj)UC708
..... further, in exercise of the powers conferred by section 93 of the finance act, 1994, the central government has exempted in the public interest the taxable services other than of auditing and accounting provided by a practising chartered accountant in his professional capacity to a client from the whole of service tax leviable thereon vide notification dated october 7, 1998. ..... (3) with effect from the date notified under section 88 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 in sub-clauses (g), (h), (i), (j), (k), (1), (m), (n) and (o) of clause (48) of section 65 and collected in such manner as may be prescribed. 67. ..... the common ground of challenge in all the three writ petitions is the constitutional validity of the provisions of the finance act by which the services offered by professionals like chartered accountants, architects and property dealers have been brought under the tax net on the ground of lack of legislative competence of parliament and discrimination inasmuch as the legislature has picked and chosen some professions and left out the others. ..... sections 68 to 71 as originally enacted by the finance act, 1994, have also been substituted by the finance (no. ..... therefore, there should not be any confusion between the tax on profession as covered by entry 60 and the service tax introduced by the finance act under challenge by virtue of residuary entry 97, 12. .....
Tag this Judgment!Court : Rajasthan
Reported in : (1995)128CTR(Raj)325; [1996]217ITR799(Raj)
..... the object of insertion of the proviso by the finance act, 1987, was stated in the memorandum of the finance act that the object behind the proviso to section 43b is to provide for a tax disincentive for deduction in respect of statutory liability which ..... the finance act, 1987, inserted the proviso to section 43b provides that any sum payable by way of tax liability can be deducted only if it was paid within the due date in respect of the assessment year to which ..... finance act, 1987, inserted a proviso to section 43b to provide that any sum payable by way of tax ..... for the revenue is that the amendment in section 43b was made by the finance act, 1988, and was effective from april 1, 1989 ..... two provisos to this section were inserted by the finance act of 1987, with effect ..... section 43b was inserted by the finance act, 1983, and is applicable with effect ..... in relation to any sum referred to in clause (a) which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return : provided ..... the delhi high court, in the case of sanghi motors [1991] 187 itr 703 was considering the validity of the provisions of section 43b and found that the same cannot be said to be arbitrary and ultra vires article 14 ..... 30,112 made under section .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1970Raj70; [1969]74ITR378(Raj); 1969()WLN83
..... assessee in the accounting year 1956-57 could be calculated as per the provisions of the finance act of 1957 which provides under clause (a) of sub-section (3) of section 2 that the income-tax on dividend income shall be computed by applying the rate or rates applicable under the operation of the finance act of 1956, but his contention is that the term 'income-tax' as used in clause (a) of sub-section (3) does not include the amount of surcharge or special surcharge, and it simply requires ..... in our opinion, the term 'income-tax' has been used in sub-section (3) (a) of the finance act, 1957 in that limited sense in which it has been used in sub-section (1), and while computing the amount of income-tax on dividend income under clause (a) of subsection (3) of section 2 of the finance act of 1957 by applying the rate or rates applicable under the operation of the finance act, 1956 it is the amount of income-tax simpliciter which is determined and which does not include the amount either ..... and referred the following question to this court under section 66 (1) of the act: 'whether on the facts and in the circumstances of the case surcharge was a separate item of taxation different from income-tax and therefore the special surcharge imposed as per finance act, 1957 was leviable on income from dividends in spite of the provisions contained in clause (a), sub-section (3) of section 2 of this finance act to the effect that income-tax on income from dividends would be charged for 1957-58 .....
Tag this Judgment!Court : Rajasthan
Reported in : (2005)194CTR(Raj)84
..... when the chapter x1v-b consisting of sections 158b to 158bh was enacted and inserted in it act, 1961, by the finance act, 1995, w.e.f. ..... (iva) the period (not exceeding sixty days) commencing from the date on which the ao received the declaration under sub-section (1) of section 158a and ending with the date on which the order under sub-section (3) of that section is made by him, or(v) in a case where an application made before the income-tax settlement commission under section 245c is rejected by it or is not allowed to be proceeded with by it, the period commencing from the date on which such application is made and ending with ..... the date on which the order under sub-section (1) of section 245d is received by the commissioner under sub-section (2) of that section,shall be excluded :provided that where immediately after .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]163ITR278(Raj)
..... aforesaid assessment orders had been passed, the income-tax officer initiated proceedings under section 154 of the act for the rectification of the assessment orders and passed orders dated december 14, 1966, whereby the income-tax officer held that the assessee was liable to tax at the rate of 7.5% on the dividend declared by it in both the assessment years in view of the provisions contained in the finance act, 1964, and the finance act, 1965. ..... of the finance act, 1964, and the finance act, 1965, provide for rebate to a company and the term 'company' is defined in section 2(17) of the income-tax act. ..... whether the shares of the assessee can be regarded as preference shares so as to entitle the assessee to rebate under the provisions of the finance act, 1964, and the finance act, 1965, involves the interpretation of the provisions of the financial corporations act, in the light of the provisions contained in section 85 of the companies act, 1956. ..... , the learned judges have proceeded on the basis that there was no provision in the finance act, 1964, providing for levying of tax on the dividend distributed by a company. ..... in that case, it has been observed that a mistake which may form the subject-matter of rectification under section 35 of the indian income-tax act, 1922, need not be a clerical or arithmetical mistake and that it may be a mistake of fact as well as a mistake of law but in order that it becomes a mistake apparent from the record, it must be a glaring, obvious or self- .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2007(4)Raj2995
..... learned counsel for the petitioner contends that section 93 of the finance act makes it abundantly clear that with the commencement of the finance act, 1994, particularly the provisions relating to levy of education cess and exemption attached with the excise duty payable under the central excise act automatically became available to education cess as part of duties on excise and no separate notification was in fact required. ..... in other words, levy of surcharge under sections 93, 91 and 95 on respective taxes was the levy for the purpose of union and was to be utilised by the union to fulfil the commitment of the central government to provide and finance universalised quality of basic education, as has been given out under section 91 of the act.15. ..... or produced, shall be a duty of excise (in this section referred to as the education cess on excisable goods), at the rate of two per cent, calculated on the aggregate of all duties of excise (including special duty of excise or any other duty of excise but excluding education cess on excisable goods) which are levied and collected by the central government in the ministry of finance (department of revenue), under the provisions of the central excise act, 1944 (1 of 1944) or under any other law .....
Tag this Judgment!Court : Rajasthan
Reported in : 2008(229)ELT50(Raj)
..... this bunch of appeals involve common question of law, being as under:whether in the facts and circumstances of the case, the tribunal was right in coming to the conclusion that under section 112(2)(b) of the finance act, 2000 interest can be levied even without there being adjudication of show cause notice, which are pending decision at the time of commencement of the aforesaid provision?2. ..... in our view, in view of the above discussion, the question as framed is required to be answered in the manner, that the learned tribunal was not right in coming to the conclusion, that under section 112(2)(b) of the finance act, interest can be levied, even where there is no adjudication of the show cause notices, which were pending decision, at the time of commencement of the aforesaid provisions, rather liability of interest can be attracted to commence, from expiry of 30 days from the date of making of determination.34. ..... it is also significant to note, that it was during pendency of those writ petitions, that probably in view of the judgments rendered by the learned tribunals in different cases, that the finance act, 2000 was enacted, incorporating section 112, to validate the denial of credit, but then, the constitutional validity of that section was challenged before this court by making appropriate amendment, with appropriate leave of the court, and thus the matter did remain pending before this court, obviously .....
Tag this Judgment!Court : Rajasthan
Reported in : 1995(2)WLN208
..... the object of insertion of the proviso by the finance act, 1987 was stated in the memorandum of finance act that the object behind the proviso to section 43b is to provide for a tax dis-incentive for deduction in respect of statutory liability which is not paid in time ..... the finance act, 1987 inserted the proviso to section 43b provides that any sum payable by way of tax liability can be deducted only if it was paid within the due date in respect of the assessment year to which the aforesaid previous year ..... the finance act, 1987 inserted a proviso to section 43b to provide that any sumpayable by way of tax or duty ..... submission of the learned counsel for the revenue is that the amendment in section 43b was made by the finance act, 1988 and was effective from 1.4.1988. ..... income referred to in section 2-b of the previous year (being a previous year relevant to the assessment year commencing on the of april, 1983,or any earlier assessment year) in which the liability to pay such sum was incurred by the assessee, the assessee shall not be entitled to any deduction under this section in respect of such sum in computing the of the previous year in which the sum is actually paid by himsection 43b.was inserted by finance act, 1983 and is applicable ..... raja ram sheoran : (1991)iillj50sc and found that the main function of a proviso is to carve out an exception to the main enactment, it cannot normally be so interpreted as to set at naught the real object of the main ..... 30,112/-made under section .....
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