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State of Rajasthan and anr. Vs. Rajasthan Chemists Association

Court : Supreme Court of India

Reported in : AIR2006SC2699; 2006(202)ELT217(SC); JT2006(6)SC553; RLW2006(4)SC3365; 2006(7)SCALE330; (2006)6SCC773; [2006]147STC542(SC); 2006(2)LC975(SC)

..... section 206c was inserted in the said act by finance act, 1988 w.e.f. 1.4. ..... the principal contention about the invalidating of the basis of the measure of tax envisaged under section 4a of the act as inserted vide finance act, 2004 is that while it levies taxes on the sale transaction carried on by the manufacturer or wholesalers or distributor the measure with which total turnover is to be determined is not part of the sale which attracts tax but its premise is to be ..... challenge in this appeal is to the legality of the judgment rendered by a division bench of the rajasthan high court, jodhpur holding that 4a of the rajasthan sales tax act, 1994 (in short the 'act') as introduced by the state finance act, 2004 was not legally sustainable to the extent that tax on first point sale of drugs, medicines or any formulation or for that matter any other commodity by a manufacturer/wholesaler/distributor to retailer where 'maximum retail price' (in ..... the controversy arose in the following background:by the finance act, 2004 section 4a was introduced which reads as follows:4a. ..... explanation to section 44ac was inserted by finance act, 1990 w.e.f. ..... we are surprised at the attitude of the states which have put forward the plea that on the passing of the 46th amendment the constitution had conferred on the states a larger freedom than what they had before in regard to their power to levy sales tax under entry 54 of the state list. ..... : [1996]219itr330(sc) supports his stand. .....

State of Rajasthan Vs. Rajasthan Chemists Association

Court : Supreme Court of India

Reported in : [2006]155TAXMAN20(SC)

..... challenge in this appeal is to the legality of the judgment rendered by a division bench of the rajasthan high court, jodhpur holding that section 4a of the rajasthan sales tax act, 1994 (hereinafter referred to as the 'act') as introduced by the state finance act, 2004 was not legally sustainable to the extent that tax on first point sale of drugs, medicines or any formulation or for that matter any other commodity by a manufacturer/wholesaler/distributor to retailer where 'minimum retail price' ( ..... section 206c was inserted in the said act by finance act, 1988 with effect from 1-4-1988. ..... the principal contention about the invalidating of the basis of the measure of tax envisaged under section 4a of the act as inserted vide finance act, 2004 is that while it levies taxes on the sale transaction carried on by the manufacturer or wholesalers or distributor the measure with which total turnover is to be determined is not part of the sale which attracts tax but its premise is to be ..... the controversy arose in the following background :by the finance act, 2004 section 4a was introduced which reads as follows :'4a. ..... we are surprised at the attitude of the states which have put forward the plea that on the passing of the 46th amendment the constitution had conferred on the states a larger freedom than what they had before in regard to their power to levy sales tax under entry 54 of the state list. ..... sanyasi rao : [1996]219itr33(ker) supports his stand. .....

Ch. Mangayamma Vs. Union of India and Others

Court : Andhra Pradesh

Reported in : 1999(5)ALD220; 1999(5)ALT484; [1999]239ITR687(AP)

..... section shall be made where any payment in a sum exceeding twenty thousand rupees is made otherwise than by a crossed cheque drawn on a bank or by a crossed bank draft in such cases and under such circumstances as may be prescribed having regard to the nature and extent or banking facilities available considerations of business expediency and other relevant factors.by finance act 2 of 1996, the figure rs.20,000/- was substituted for the previous figure rs.10,000/-. moreover subsection (3) before its ..... section 40-a(3) of the act as amended by the finance act ..... 1995, rule 6dd(j) reads:'(j) where the payment is made by an assessee by way of salary to his employee after deducting the income tax from salary in accordance with the provisions of section 192 of the act and when such employee- (a) is temporarily posted for a continuous period of fifteen days or more in a place other than his normal place of duty or on a ship; ..... circumstances in which payment in a sum exceeding ten thousand rupees may be made otherwise than by a crossed cheque drawn on a bank or by a crossed bank draft: no disallowance under sub-section (3) of section 40-a shall be made where any payment in a sum exceeding ten thousand rupees is made otherwise thanby a crossed cheque drawn on a bank or by a crossed bank draft in the cases and circumstances specified there ..... a. sanyasi rao : [1996]219itr330(sc) , the supreme court while considering the validity of the provisions under sections 44ac and 206c of the act on the touch-stone of article 14 .....

Mysore Sales International Ltd. Vs. Deputy Commissioner of Income Tax ...

Court : Karnataka

Reported in : (2003)185CTR(Kar)417; [2004]265ITR498(KAR); [2004]265ITR498(Karn)

..... finance act, of 1988, section 206c ..... finance act, 1992, section ..... noticing large scale tax evasion in liquor trade, the parliament in its wisdom provided for deduction at source in the case of various tax-payers including certain category of dealers.section 206c is a special provision providing for collection from the buyer of any goods of nature specified in column 2 of the table below a sum equal to the percentage specified in ..... in that case, the petitioner filed petitions praying for writ of mandamus directing the respondents not to deduct tax at source under section 206c of the it act from the petitioner who are holding l-13 licences treating them as buyers where goods have not been obtained by them by auction and where sale price of such goods ..... the process of auction by the excise department of the government and the purchase of goods by the successful excise contractors from the petitioner are not at all two distinct and independent acts as erroneously presumed by the petitioner, but, on the other hand, there exists an inextricable and non-detachable link between the two inasmuch as a successful excise contractor can alone purchase ..... in the light of the amendment to the excise act, they are compelled to procure their arrack from the petitioners who ..... : [1996]219itr330(sc) noticed that the object in enacting sections 44ac and 206c of the it act, 1961, was to enable the revenue to collect the legitimate dues of the state from the persons carrying on particular ..... 1996-1997, 1995-1996 .....

Brook Crompton Greaves Ltd. Vs. the Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (2007)105ITD146(Pune.)

..... the question before the hon'ble tribunal was whether in view of amendment in section 32 by finance (no.2) act, 1996, with effect from 01.04.1997, unabsorbed depreciation of earlier years could be allowed to be set-off against income from house property for ay 1997-98. ..... section 45 was more or less reproduction of section 33 of the english finance act, 1927. ..... the hon'ble tribunal took recourse to the budget speech of the finance minister while moving the finance bill and board circular no.762, dated 18.02.1998, the intent of which was that the amendment will have the effect that the cumulative unabsorbed depreciation brought forward as on 01.04.1997 could be set-off against the income under any other head in ay 1997-98 and seven subsequent years, while the depreciation ..... may be the carry forward losses would not affect the determination of the quantum of allowance under section 80hhc of the income-tax act, 1961, but the allowability of the deduction under section 80hhc would only arise if there is a positive income after the effect to the set off of carry forward business losses or unabsorbed depreciation is given to the income of a particular assessment year. ..... the act was extensively amended in the year 1939.section 44f was not there in the draft bill. .....

Deputy Commissioner of Income Tax Vs. Syncome Formulations (i) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)106ITD193(Mum.)

..... in the case of section 115jb, the finance act has made it very clear that the deduction under section 80hhc would be available in its entirety to an assessee even if the relief under section 80hhc is being eliminated in a phased manner. ..... 1988-89 to 1990-91.section 115j as originally introduced by the finance act, 1987 did not provide any exemption to export profits under section 80hhc. ..... 2001-02 onwards wherein the explanation has been given as: (iv) the amount of profits eligible for deduction under section 80hhc computed under clauses (a), (b) or (c) of sub-section (3) or sub-section (3a), as the case may be of that section and subject to the conditions specified in that section; 11 that the above explanation provided under the new section 115jb has made the intention of the legislature more clear by stating that in addition to the application of clauses (a), (b) or (c), the deduction shall be subject to the conditions specified ..... on the other hand, the points of arguments advanced by the counsel are as follows: (1) that reading of the words and expressions of sections 115j, 115ja and 115jb does not make out any case that the object of the provision relating to the deduction under section 80hhc has been amended in any way so as to touch the basic character of the deduction. ..... 2) act, 1996 w.e.f. ..... 1991-92 to 1996-97. ..... (1996) 87 taxman 101 (cal).22. .....

Madras Bar Association Vs. Union of India and anr.

Court : Supreme Court of India

..... the finance (no.2) act, 1996 amended section 129(3) of the customs act, whereby it enabled the central government to appoint a person to be the president of the appellate tribunal ..... . (viii) the finance (no.32) act, 2003 substituted section 35g of the excise act and in place of the remedy of reference, the amended provision provided for a direct appeal to the jurisdictional high court (after the cut-off date, ..... passed by the collector of central excise as an adjudicating authority, (b) against an order passed by the collector (appeals) under section 35a of the excise act (as substituted by the finance (no.2) act, 1980), (c) against an order passed by the board or the appellate collector of central excise under section 35 (as it stood before 21.8.1980), and (d) against an order passed by the board or the collector of central excise under section 35a (as it stood before 21.8.1980). (iv) the appellate tribunal was to be comprised of such number of judicial/technical members ..... by the finance (no.2) act, 1980, sections 128 to 131 of the original act were substituted. ..... (vii) section 260a was inserted in the income tax act by the finance (no.2) act, 1998, with effect from 1.10. ..... viii) the finance (no.32) act, 2003 introduced a new section 130. ..... (iii) the remedy before the appellate tribunal (provided under section 5a of the 1922 act, by section 85 of the indian income tax (amendment) act, 1939), was required to be exercised by a bench comprising of one judicial member and one accountant .....

Indian Furniture Works Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT

Reported in : (2001)71TTJ(Bang.)709

..... the present case, has produced a copy of the order of the honble karnataka high court dated 6-1-2000 in which question regarding the applicability of the circulars even prior to the amendment by the finance act, 1991 was brought to the attention of the court and the honble court deemed it fit that this should be examined by a larger bench and, therefore, there lordships considered it ..... however, there was an amendment to section 80hhc(2)(b) by the finance (no, 2) act, 1991, with effect from 1-4-1991, as a result of which the section was revised as under : (ii) minerals ..... amended by the finance (no.2) act, 1991, with effect from 1st april, 1991 and this schedule which is entitled "processed minerals and ores" contains a list of ten items, the last two of which reads as under : "(x) cut and polished minerals and rocks including cut and polished granite".hence, it is clear that with effect from assessment year 1991-92 onwards cut and polished granite is eligible for deduction under section ..... orders for the years 1988-89 and 1989-90 indicate that the assessments originally does for these years were set aside by the commissioner, k-i, under section 263, with a direction to redo the assessment for re-examining the issue relating to certain deductions allowed in the original assessment and the assessment has ..... 1996) 218 itr 298 (karn), wherein it was impliedly held that for the assessment year 1991-92 and subsequent years, cut and polished granite would be considered for the benefit of section .....

Gal Offshore Services Ltd. (Now the Great Eastern Shipping Company Ltd ...

Court : Mumbai

Reported in : (2009)221CTR(Bom)448; [2009]309ITR125(Bom)

..... it was, therefore, submitted by the assessee before us that the finding of the tribunal that the amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and retrospective, is erroneous and is contrary to the decision of the hon'ble supreme court, particularly as the amendment to section 33ac by the finance act, 1995 makes a clear departure from the old provisions and is explicitly stated to be prospective.10. ..... on 7th june, 2004 the itat, mumbai dismissed the appeal filed by the assessee upholding disallowance of deduction under section 33ac primarily on the following grounds:i) section 33ac contemplates actual carrying on of the business of operations of shipping in the year of claim;ii) amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and retrospective.iii) circular no. ..... in support of the submission of the assessee that the tribunal has erred in coming to the conclusion that the amendment made by finance act, 1995 to section 33ac is clarificatory and hence retrospective is erroneous, the learned advocate for the assessee relied on the departmental circular no. ..... as regards the arguments/contentions of the revenue/tribunal that the amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and not retrospective, we are of the view that since clause 24.4 of the circular no. .....

Transport Corporation of India Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2003)84ITD183(Hyd.)

..... by the amendment brought about by the finance act, 1995, it is now specified that deduction available would be out of profit derived from the business ..... he also drew our attention towards the memorandum of association of the assessee-company which came into existence on 6th april, 1965 and has stressed that the unamended provision of section 33ac is applicable to the case of the assessee and that it is entitled to deduction of the amount of the total income as debited to the p&l a/c of the previous year and credited to the reserve a/c in respect of ..... 1996.the amended section ..... march, 1996, directed the ao to consider the claim of the appellant for the deduction under section 33ac of the it act and allow ..... march, 1996 directed the ao to consider the claim of the assessee for deduction under section 33ac of the act and allow ..... march, 1996 directed the ao to consider the claim of the appellant for the deduction under section 33ac of the it act and allow ..... the assessee filed an application under section 154 of the it act, 1961 for consideration of the same request vide application dt.22nd april, 1996, the contents of which are as under: we write with reference to the order of assessment ..... , 1996, under section 154 ..... 22nd april, 1996, filed by the assessee under section 154 for the same request as the assessee has ..... 1996 cited above, assessment order under section ..... 1996, having considered the aforesaid claim of the assessee, held as under : "with reference to the assessee's petition under section .....