Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 section 98 charge of securities transaction tax Court: andhra pradesh Page 1 of about 48 results (0.201 seconds)

Karvy Consultants Limited Vs. Government of India

Court : Andhra Pradesh

Reported in : 2006[]STR75

..... agent, is in the nature of incidental or auxiliary support service in the sale of goods (securities) belonging to the client and falls within the purview of section 65(19)(iv) of the finance act, 2003, that the impugned show cause notice merely demanded service tax on service charges collected by the petitioner towards such services rendered from 1-7-2003 to 31-1-2004, that the show cause notice was issued after strictly construing section 65(19) of the finance act, 2003, that the functions of the registrar and share transfer agent ..... is a service rendered which is in the nature of incidental or auxiliary support service rendered in the contract of sale of goods (securities) belonging to the ..... 25/2004, dated 10-9-2004, issued by the central government, under section 93(1) of the finance act exempting that portion of the value of certain taxable services from the whole of service tax leviable thereon, under section 66 of the finance act, which was received by the service provider prior to the 10-9-2004. .....

Nava Bharat Ferro Alloys Ltd. Vs. Union of India (Uoi)

Court : Andhra Pradesh

Reported in : (2005)186CTR(AP)451; 2005(185)ELT236(AP); 2006[3]STR565

..... operator in relation to carriage of goods by road in a goods carriage.section 66(3) : 'with effect from the date notified under section 84 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), (l), (m), (n) and (o) of clause (41) of section 65 which are provided to any person by the person responsible for collecting service tax.sections 65(7), 65(18a) and 65(18b) of finance act, 2000 reads as under:section 65(7) : 'assessee' means a person liable for collecting the ..... by a person on account of a season ticket or as subscription or contribution for any privilege, right or facility which is combined with the right of such person being carried or his goods transported by a motor vehicle without any further payment or at a reduced charge, the tax shall be levied on the amount of such lump sum or on such amount as appears to the prescribed authority to be fair and equitable having regard to the fare or freight fixed by a competent authority under the motor vehicles ..... the nature and character of this service tax is evident from the fact that the transaction between a mandap keeper and his customer is definitely not in the nature of a sale of hire purchase of goods. ..... 1478 of 2004 and also to the counter filed in the same writ petition.2. ..... : [2004]267itr9(sc) , which is direct on the point. .....

Commissioner of Income-tax Vs. Beehive Engineering Co. and Allied Indu ...

Court : Andhra Pradesh

Reported in : (1996)136CTR(AP)321; [1996]221ITR561(AP)

..... the question as to the exact meaning of the explanation to sub-section (7)(d) of section 2 of the finance act, 1966, came up for consideration and the board are advised that an 'industrial company' would mean - (i) a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships ..... said definition, the division bench observed as follows (page 811) : 'for holding that the assessee in an 'industrial company' as defined in section 2(6)(c) of the finance act, 1969, it must be held that it is 'mainly engaged in the processing of goods'. ..... bench was concerned with the definition of 'industrial company' contained in section 2(6)(c) of the finance act, 1969, which is in pari materia as the definition under consideration. ..... on these facts should be 'whether the assessee-company is an 'industrial company' within the meaning of section 2(7)(c) of the finance act, 1978;' and accordingly we reframe the question as noted above. 10. ..... in this reference, at the instance of the commissioner of income-tax, andhra pradesh-ii, hyderabad, under section 256(1) of the income-tax act, 1961 the following question is referred to this court for our opinion : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is justified in holding that the assessee is a company which manufactures ..... 11,74,508(c) labour charges on structural work 2,39,602(d) sale of asbestos cement materials 24,896----------- .....

The Andhra Pradesh Federation of Chit Funds, a Public Society Rep. by ...

Court : Andhra Pradesh

Reported in : (2008)220CTR(AP)28; (2008)17VST128(AP)

..... initially the finance act, 1994 prescribes levy of service tax and the relevant provision for the purpose is sub section (12) of section 65, which reads as under;banking and other financial services' means;a) the following services provided by a banking company or a financial institution including a non-banking financial company or any other body corporate, namely:i) financial leasing services including equipment leasing and hire purchase by a body corporateii) credit card servicesiii) merchant banking servicesiv) securities and foreign ..... further, it has been pointed out that as per section 41(1) of the reserve bank of india act, 1934, chit funds are categorized as financial institutions and therefore sub clause 12 of section 65 of the finance act, 2007 by deletion of expression 'cash management' attracts the levy of service on chit fund transactions. ..... commissioner, customs and central excise, hyderabad- ii commissionerate, hyderabad, apart from reiterating the main stand on the expression 'cash management' in the normal parlance and as per the various dictionaries referred to including vrnimmen finance dictionary, the farlex dictionary and investorwords.com, the chit transaction squarely falls within its ambit and therefore it was contended that even culling out from the definition of the chit under the chit funds .....

A.P. Federation of Chit Funds Vs. Union of India (Uoi)

Court : Andhra Pradesh

Reported in : 2009[13]STR350

..... initially the finance act, 1994 prescribes levy of service tax and the relevant provision for the purpose is sub-section (12) of section 65, which reads as under:banking and other financial services' means;(a) the following services provided by a banking company or a financial institution including a non-banking financial company or any other body corporate, namely:(i) financial leasing services including equipment leasing and hire purchase by a body corporate(ii) credit card services(iii) merchant banking services(iv) securities and ..... further, it has been pointed out that as per section 41(1) of the reserve bank of india act, 1934, chit funds are categorized as financial institutions and therefore sub-clause 12 of section 65 of the finance act, 2007 by deletion of expression 'cash management' attracts the levy of service on chit fund transactions. ..... commissioner, customs and central excise, hyderabad-ii commissionerate, hyderabad, apart from reiterating the main stand on the expression 'cash management' in the normal parlance and as per the various dictionaries referred to including vrnimmen finance dictionary, the farlex dictionary and investorwords.com, the chit transaction squarely falls within its ambit and therefore it was contended that even culling out from the definition of the chit under the chit funds .....

Karvy Consultants Ltd. Vs. Asstt. Commr. of Cus. and C. Ex.

Court : Andhra Pradesh

Reported in : 2006[]STR7

..... reading of section 45-i(f) of the reserve bank of india act read with sections 65(73), 65(11), and section 65(90) (zm) as they stood prior to amendment by the finance act, 2004, it was only a non-banking financial company which had as its principal business the receiving of deposits, under any scheme or arrangement or lending in any other manner, which could be said to be providing taxable service rendering it liable for payment of service tax.13. ..... section 65(11) of finance act, 2001 defined 'banking and other financial service' to mean :(a) the following services provided by a banking company or a financial institution including a non-banking financial company namely :(i) financial leasing services including equipment leasing and hire-purchase by a body corporate; (ii) credit card services; (iii) merchant banking services; (iv) securities and foreign exchange (forex) broking;(v) asset management including portfolio management, all forms of fund management, pension fund management, custodial, ..... it is also stated in the counter-affidavit that service tax was payable on depository charges received by the petitioner from 16-7-2001 to 15-8-2001, that non-payment of service tax attracts penalty and accordingly imposition of penalty was proposed in the show cause notice, that irrespective of whether or not the petitioner had accepted deposits during the relevant period, they were required to be classified under clause (ii) of section 45i of the reserve bank of india, 1934 as the .....

Dandu Krishna Murthy Raju Vs. the Branch Manager of Max Newyork Life I ...

Court : Andhra Pradesh State Consumer Disputes Redressal Commission SCDRC Hyderabad

..... coming to the second ground urged by the complainant in the appeal, under section 66 of finance act, the service tax at the rates applicable will have to be collected by the person rendering service from the person or customer, in whose favour, such service ..... 19 of the terms and conditions of the policies, the policy shall be governed by and subject to the laws of republic of india and service tax is charged as per the provisions of the finance act, which is law passed by the government of india. ..... as per section 83 of the finance act,1994 read with section 12b of the central excise act, 1944, the incidence of service tax falls on the recipient of the services ..... is pertinent to mention that if service provider, who is responsible for collecting the tax but fails to collect such tax is also liable to pay penalty equal to the tax, apart from interest there on, as per section 76 of the finance act. ..... the service provider who is responsible for collecting the service tax, has to get himself registered under section 69 and has to furnish the prescribed return, periodically, under section 70 of finance act. ..... is an admitted fact that as per clause 19 of the terms and conditions of policies, the policy shall be governed by and subject to laws of republic of india and the service tax is charged as per the provisions of the finance act which is law passed by the government of india. ..... opposite party contended that by charging service tax, they neither violated the terms of the contract, nor the .....

K. Venkata Reddy Vs. Commissioner of Income Tax, A.P.ii, Hyd. and Anot ...

Court : Andhra Pradesh

Reported in : 2001(4)ALD51; 2001(4)ALT160

..... therefore, it would be appropriate to look into the exact provision, which contemplates the payment of the tax, after receiving the intimation.section 90 of the finance act provides for determination and payment of the tax in pursuance of the declaration filed under section 88 of the finance act, which reads as under:90. ..... it was held by the gujarat high court that the language of section 67(1) of the finance act is very clear that the declarant has to make payment of tax within three months from the date of filing of the declaration and the department could not insist that the period should be counted in days and not by months. ..... the said declaration was for the assessment years 1993-94 and 1994-95, showing the tax arrears at rs.74,390/- and rs.1,14,598/- respectively, a certificate of intimation in form 2-a under section 90(1) of the finance (no.2) act, 1998 was issued to the petitioner. ..... now the dispute is whether the said presentation of the cheque on 27-3-1999 would amounts to the payment of tax within the time prescribed under section 90(2) of the finance act, 1998. ..... the petitioner contended that though the tax payable under the scheme was paid on 30-3-1998, he was not granted a certificate under section 68(2) of the finance act, 1997. ..... as per section 67 of the finance act, 1977, the petitioner has to make payment of tax on the disclosed income within three months from the date of filing the declaration. .....

Commissioner of Income-tax Vs. K.S. Subbaiah Pillai and Co. P. Ltd.

Court : Andhra Pradesh

Reported in : [1972]85ITR71(AP)

..... 25.96 lakhs by virtue of the provisions contained in section 2(5) of the finance act, 1962 ?'3. ..... true, as contended by the assessee, the goods in respect of whose transactions the assessee earned commission were ultimately exported out of india; but admittedly it was not the assessee who exported those goods but some others who really are entitled for the rebate under section 2(5) in respect of any profits derived by them from the export of these ..... calcutta, as the assessee was controlling the entire export to france and was responsible for the quality and the intermediary only acted as a conduit pipe through which the transactions were routed, and allowed the rebate in respect of that turnover. ..... from the export of any goods or merchandise out of india, shall be entitled to a deduction, from the amount of income-tax and super-tax with which he is chargeable for the assessment year commencing on the 1st day of april, 1962, of an amount equal to the income-tax and super-tax calculated respectively at one-tenth of the average rate of income-tax and of the average rate of super-tax on the amount of such profits and gains included in the total income. '5. ..... at the instance of the commissioner of income-tax, the tribunal has stated a case for the opinion of this court on the following question :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the assessee-company was eligible for rebate in respect of commission transactions of rs. .....

K. Venkata Reddy Vs. Cit and anr.

Court : Andhra Pradesh

Reported in : (2001)169CTR(AP)41; [2001]250ITR147(AP)

..... . it was held by the gujarat high court that the language of section 67(1) of the finance act is very clear that the declarant has to make payment of tax within three months from the date of filing of the declaration and the department could not insist that the period should be counted in days and not by ..... the petitioner contended that though the tax payable under the scheme was paid on 30-3-1998, he was not granted a certificate under section 68(2) of the finance act, 1997 ..... . as per section 67 of the finance act, 1997, the petitioner has to make payment of tax on the disclosed income within three months from the date of filing the ..... therefore, the payment of tax was within the period prescribed and the petitioner was entitled for the grant of certificate under the provisions of section 68(2) of the finance act ..... 2) act provides for determination and payment of the tax in pursuance of the declaration filed under section 88 of the finance ..... , the petitioner filed an application under section 119(2)(b) of the income tax act, 1961, to the central board of direct taxes for condoning the delay of one day in payment of the tax relatable to the income voluntarily disclosed ..... , the dispute is whether the said presentation of the che ue on 27-3-1999, would amount to the payment of tax within the time prescribed under section 90(2) of the finance (no ..... , it would be appropriate to look into the exact provision, which contemplates the payment of the tax, after receiving the intimation.section 90 of the finance (no .....