Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 section 22 insertion of new section 88d Page 1 of about 1,134 results (0.103 seconds)

Commissioner of Income Tax Vs. M/S.Arun Excello Foundations Pvt. Ltd.

Court : Chennai

..... 22. learned senior counsel further pointed out to the amendment brought forth under finance (no.2) act, 2004 with effect from 1.4.2005 inserting clause (d) as well as insertion of clauses (e) and (f) under the finance (no.2) act, 2009, with effect from 1.4.2010 to section 80-ib(10) of the act and submitted that read in the context of sub clause (c) of section 80-ib(10) of the act, restrictions as regards allotment to an individual in a family under clauses (e) and (f) and in the context of sub clause (d) as the built-up commercial area, ..... finance (no.2) act, 2004 by insertion of sub clause (d) to section 80ib (10) of the act, effective from 1.4.2005, learned standing counsel submitted that prior to the amendment, legislature did not contemplate any relief on commercial building, including a pro-rata relief, to be given to the assessee during the year 2004-05 in cases of violation of the condition under section 80ib(10) of the ..... usage. for the first time in 2005, clause (d) was inserted under finance (no.2) act of 2004, which restricted the built-up area of the shops and other commercial establishments included in the housing project as not to exceed five per cent of the aggregate built ..... the provisions contained under section 80ib(10) of the act, learned counsel referred to the decision reported in (2011) 1 scc 236 commissioner of central excise, new delhi v ..... by the revenue on the decision of the apex court reported in (2011) 1 scc 236 commissioner of central excise, new delhi .....

Commissioner of Income Tax vs.bhanot Construction & Housing Limited

Court : Delhi

..... accordingly, we hold that the to section 40(a)(ia) is declaratory and curative in nature and it has retrospective effect from 1st april, 2005, being the date from which sub clause (ia) of section 40(a) was inserted by the finance (no.2) act, 2004. ..... it is a beneficial legislation, the above provisions should in the interest of justice be considered as being declarative and curative in nature and consequently be treated as having retrospective effect from 01.04.2005 which is the date from which sub clause (ia) of section 40(a) was inserted by finance act, 2004. ..... read in this context, it can be strongly argued that section 40(a)(ia) at least to the extent of the amendment is procedural as by enacting section 40(a)(ia)the legislature did not want to impose a new tax but wanted to ensure collection of tds and the amendments made streamline and remedy the anomalies noticed in the said procedure by allowing deduction in the year when the expenditure is incurred provided tds is ita no. ..... the aforesaid dictum is based upon the principle that a new provision creating a liability or an obligation, affecting or taking away vested rights or attaching new disability is presumed to be prospective. ..... * in the high court of delhi at new delhi + income tax appeal no.603/2018 reserved on :28. ..... management of new delhi tuberculosis centre, (1986) 2 scc614and workmen of messrs firestone tyre & rubber company of india (p) ltd. v. .....

The Commissioner of Income Tax-16 Vs. M/s Happy Home Enterprises and A ...

Court : Mumbai

..... in that view of the matter, the definition of built up area, as inserted in sub-section (14)(a) of section 80-ib by the finance (no.2) act of 2004, which came into effect from april 1, 2005, cannot be held to be retrospective. ..... developers, reported in (2013) 353 itr 1 (karn), the question that arose before the karnataka high court was whether the definition of built-up area inserted in section 80-ib(14)(a) by finance (no.2) act, 2004, w.e.f. ..... the cit (appeals) observed that the provisions of section 80-ib(10) were substantially amended by finance (no.2) act, 2004 with effect from 1st april, 2005 wherein it was provided that the built up area of the shops and other commercial establishments included in the housing project should not exceed 5% of the aggregate built up area or ..... it would be important to note another amendment that was brought about by finance (no.2) act, 2004 to sub-section (14) of section 80-ib, w.e.f. ..... therefore, by finance (no.2) act, 2004, with effect from 1st april 2005, the legislature made substantial changes to sub-section (10) of section 80-ib. ..... however, the provisions of section 80-ib(10) were substantially amended by way of finance (no.2) act, 2004 w.e.f. ..... section 80-ib(14) was also amended by the same finance (no.2) act, 2004 and for the first time under clause (a) thereof, the words built-up area were defined. ..... it will require qualification in new circumstances. ..... there were several new conditions that were incorporated by the newly substituted sub-section. .....

Ginni International Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2007)6STT491

..... since the calculation of service tax liability would have been a bone of contention, the finance act, 2003, sought to insert a new section 71a to make the receiver of services of g.t.o. ..... this insertion was necessitated as the provisions of sections 69 and 70 of finance act, 1994 applied only to service provider. ..... by inserting section 71a, the finance act, 2003 made the service receivers to file return to the authorities to ascertain the service tax liability. ..... 626/06-sm (br), dated 22-2-06 in the tribunal held as under: a plain reading of section 158 would reveal that provisions were inserted to section 68, in order to bring the category of receiver of the services of g.t.o. ..... after the retrospective amendment in finance act, 2003, the receiver of the services from g.t.o. ..... it can be seen that till this retrospective amendment the payment of service tax under section 68 was to be made only by the service provider. ..... it can be seen that by bringing this section 71a in the statute, the liability to discharge the service tax was extended up to 17-11-2003. ..... the said section 71a also granted time of six months from the date of assent of the bill by the president. ..... the finance bill, 2003 received the assent of the president on 16-05-2003. ..... the appellant discharged the service tax liability on 5-2-2004 and 12-2-2004. .....

Unikeller India Pvt. Ltd. Vs. Cce

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2006)(110)ECC467

..... the calculation of service tax liability would have been a bone of contention, the finance act, 2003, sought to insert a new section 71a to make the receiver of services of g.t.o. ..... this insertion was necessitated as the provisions of sections 69 & 70 of finance act, 1994 applied only to service ..... by inserting section 71a, the finance act, 2003 made the service receivers to file return to the authorities to ascertain the service tax ..... issue involved in this case is regarding imposition of interest under section 75 of the finance act, 1994 and imposition of penalty under section 76 of the finance act, 1994.2. ..... been held in the case of greenply industries, no penalty would be imposable on the appellants under section 76 of the finance act, 1994.6. ..... was considered by this tribunal in the case of greenply industries wherein the tribunal has held as under: a plain reading of section 158 would reveal that provisions were inserted to section 68, in order to bring the category of receiver of the services of gto as the person liable to pay service tax. ..... in this case the appellants have deposited service tax liability on 13.1.2004 and 1.2.2004 and hence interest liability on the appellants will accrue from the expiry of two weeks from 17.11.2003, till the discharge of service tax liability by the ..... revenue issued show cause notice to the appellants on 8.11.2004 for demand and recovery of interest and imposing penalty. ..... appellants deposited the service tax liable to be paid by them in february, 2004. .....

Pr. Commissioner of Income Tax - 11 vs.shri Dinesh Kumar Mathur

Court : Delhi

..... hold that the insertion of second proviso to section 40(a)(ia) is declaratory and curative in nature and it has retrospective effect from 1st april, 2005, being the date from which sub clause (ia) of section 40(a) was inserted by the finance (no.2) act, 2004. ..... , such an amendment in law, in view of the well settled legal position to the effect that a curative amendment to avoid unintended consequences is to be treated as retrospective in nature even though it may not state so specifically, the insertion of second proviso must be given retrospective effect from the point of time when the related legal provision was introduced. ..... were reported by it the disallowance of the entire amounts, under section 40(a)(ia) of the act in effect would render one payment which constitutes a transaction liable to income tax ..... the provisions of section 40(a)(ai), as they existed prior to insertion of second proviso thereto, went much beyond the obvious intentions of the lawmakers and created undue hardships even in cases in which the assessee s tax withholding lapses did not result in any loss ..... considering that parliament remedied the law by amendment through insertion of the second proviso, in cases such as the present one, where the ao can have easy access to the returns of the payee, in the larger interest of the assessee and the revenue, it would be appropriate ..... $~13 * % + in the high court of delhi at new delhi judgement delivered on:24.01.2017 ita4362016 pr commissioner of income tax - 11 .....

Deputy Commissioner of Vs. Shubham Industies

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2007)104ITD126Luck

..... . obviously, since section 142a was not actually on the statute book till it was inserted by the finance act, 2004, the power could not have been exercised by making a specific reference to section 142a, but now when section 142a is inserted and when the legislature has clarified that the said provision is deemed to be on the statute book since 15-11-1972, the exercise of the power by the assessing officer by reference to any other section does not affect any of the vested ..... . with a view to remove any doubt in this regard, it is proposed to insert a new section 142a, with retrospective effect from 15-11-1972, so as to clarify that assessing officer has and always had the power to make a reference to ..... . kaushal's final argument was that if section 131 has to be read in section 142a, then it was a moot question as to why the new provision was made applicable only with effect from 15-11-72 even when section 131 was on the statute book prior ..... . as the intention of inserting new section 142a retrospectively is not to unsettle the cases already decided (except in cases where a re-assessment is required to be made under section 153a), it is proposed to provide a proviso to the new section to the effect that the provisions of the same shall not apply in respect of an assessment made on or before 30-9-2004 and where such assessment has become final and conclusive on or before ..... .' if the new act affects matters of procedure only then prima facie it applies to all actions pending as .....

Dy. Cit(A) Vs. Subham Industries

Court : Income Tax Appellate Tribunal ITAT Lucknow

..... other words, right from the fifteenth day of november, 1972, the ao had the power to make reference to the valuation officer.obviously, since section 142a was not actually on the statute book till it was inserted by the finance act, 2004, the power could not have been exercised by making a specific reference to section 142a. ..... submitted that the said section has been inserted by the finance act, 2004, effective from 15^thnovember. ..... with a view to remove any doubt in this regard, it is proposed to insert a new section 142a, with retrospective effect from 15.11.1972, so as to clarify that assessing officer has and always had the power to make a reference to the valuation ..... kaushal's final argument was that if section 131 has to be read in section 142a, then it was a moot question as to why the new provision was made applicable only with effect from 15.11.72 even when section 131 was on the statute book prior to 15.11. ..... as the intention of inserting new section 142a retrospectively is not to unsettle the cases already decided (except in cases where a reassessment is required to be made under section 153a), it is proposed to provide a proviso to the new section to the effect that the provisions of the same shall not apply in respect of an assessment made on or before the 30^thday of september, 2004 and where such assessment has become final and conclusive on or before that ..... " if the new act affects matters of procedure only then prima-facie it applies to all actions pending as well as .....

Deputy Commissioner of Income Tax Vs. Shubham Industries

Court : Income Tax Appellate Tribunal ITAT Lucknow

Reported in : (2007)106TTJLuck34

..... light of the above findings of the tribunal, the department has filed application and has stated that in view of the amendment made by the finance act, 2004, by inserting section 142a of the act, which is effective from 15th nov. ..... submitted that the said section has been inserted by the finance act, 2004, effective from 15th ..... words, right from the fifteenth day of november, 1972, the ao had the power to make reference to the valuation officer.obviously, since section 142a was not actually on the statute book till it was inserted by the finance act, 2004, the power could not have been exercised by making a specific reference to section 142a. ..... view to remove any doubt in this regard, it is proposed to insert a new section 142a, with retrospective effect from 15th nov. ..... 's final argument was that if section 131 has to be read in section 142a, then it was a moot question as to why the new provision was made applicable only ..... as the intention of inserting new section 142a retrospectively is not to unsettle the cases already decided (except in cases where a reassessment is required to be made under section 153a), it is proposed to provide a proviso to the new section to the effect that the provisions of the same shall not apply in respect of an assessment made on or before the 30th day of september, 2004 and where such assessment has become final and conclusive on or before that ..... ' if the new act affects matters of procedure only then prima facie it applies to all actions pending as well .....

C.I.T Mumbai Vs. M/S Sarkar Builders

Court : Supreme Court of India

..... are concerned with the amendment to the said sub-section carried out by finance no.2 act, 2004 w.e.f. ..... may also point out at this stage itself that though section 80ib has been on the statute book for quite some time, a new section 80ib had been introduced by the finance act, 1999 w.e.f. ..... thus, in our opinion, the tribunal was justified in holding that clause (d) inserted to section 80ib(10) with effect from 1.4.2005 is prospective and not retrospective and hence cannot be applied to the period prior to ..... it be argued by that revenue that he is to demolish the extra coverage meant for commercial purpose and bring the same within the limits prescribed by the new provision if he wanted to avail the benefit of deduction under section 80ib(10) of the act, only because of the reason that the project was not complete as on 01.04.2005?. ..... that does not mean that rights which are not saved by the 'savings' provision are extinguished or stand ipso facto terminated by the mere fact that a new statute repealing the old statute is enacted. ..... in this scenario, the question is as to whether the new conditions mentioned in the amended provision have also to be fulfilled only because the housing projects in question, though started before 01.04.2005, were completed after the said ..... (rohinton fali nariman) new delhi; may15 2015.-.---------------------- ..... several new conditions were incorporated for the first time, including the condition mentioned in clause ..... of income tax (central)-i, new delhi v. .....