Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 Sorted by: old Page 1 of about 39,481 results (0.108 seconds)

Universities Superannuation Scheme Limited as Trustee of Universities ...

Court : Authority for Advance Rulings

..... the total income, at the rate of thirty per cent; * special things derogate from general (latin for lawyers) ======================= the following proviso shall be inserted in clause (ii) of sub-section (i) of section 115ad by the finance (no.2) act, 2004, w.e.f. ..... and on the gains so determined, they are taxed @ 20% and they are allowed an option to be taxed @ 10% without indexation under the proviso to sub-section (1) of section 112 of the act, we do not think that under proviso to section 112(1) they have the option to apply the provisions of indexation for computing capital gains and paying tax @ 10% on the gains so arrived at as contended by mr. ..... same may be quoted here for proper appreciation of the point:- nature of capital gains/loss taxability of fii under the specific provisions of section 115ad of the act (surcharge not applicable to foreign companies) taxability of other assessees under the provisions of section 112 of the act (tax rates mentioned are excluding surcharge) long-term 10% (i) 20% for individuals and huf (ii) 40% for company (domestic or foreign (iii) 30% for cases ..... in our capital market as is evident from the budget speech of the honble minister of finance, a special provision section 115ad has been inserted by the finance act, 1993 w.e.f. ..... proviso to sub-section (1) of section 112 (inserted by the finance act 1999 w.e.f. ..... 2004, the applicant filed returns of its income from investment in india as a fii by applying provisions of section 115ad of the act. .....

Van Oord Dredging and Marine Vs. Adit, (international

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)297ITR115(Mum.)

..... not considered the amendment made by finance (no.2) act, 2004 which has modified the amendment made by finance act, 2001 retrospectively. ..... departmental representative submitted that there is no reason for admitting these additional grounds of appeal as action of the assessing officer is as per the provision of the act and there is no ambiguity in the language of the provision of section 90 of the act.further the explanation to section 90 inserted by the finance act 2001 with retrospective effect from 1.4.1962 making it clear that charge of tax in respect of foreign company at a higher rate than the rate at which ..... that the provision of section 234 d was inserted by finance act 2003 with prospective effect from 1.6.2003 and was not ..... the assessee itself has made the request for deduction of tax at a lower rate and ultimately entire amount is found chargeable to tax, in absence of payment of advance tax as per provision of the act interest under section234b is chargeable.he submitted that the assessee will get deduction as per provision of section 209(1)(a) to the extent of amount @ 7% of the tds payment and not the full amount of tax ..... the cit(a) in holding that since all payments made to non residents are subject to tax deduction at source under section195 of the act, it is held that the appellant was not liable for advance tax and therefore the interest under section234b is not liable on the ..... the statute book during the relevant period and was inserted by the finance act, 2003 w.e.f. .....

Sneh Enterprises Vs. Commnr. of Customs, New Delhi

Court : Supreme Court of India

Reported in : 2006(202)ELT7(SC); JT2006(8)SC587; 2006(9)SCALE95; (2006)7SCC714; 2006(2)LC1171(SC)

..... any, section 26 of the finance act, 2004, was brought into the statute book ..... by section 76 of the finance (no.2) act, 2004, indisputably, sub-section (8) was inserted stating the provisions of the customs act would be applicable 'relating to, the date for determination of rate of duty, non-levy, short levy, refunds, interest, ..... that in view of the fact that section 9a is an enabling provision and the notification thereunder having been issued on 22.5.2002, the provisions of section 15a of the customs act could not have been invoked in the instant case, particularly, in view of the fact that sub-section (8) of section 9a was introduced in the year 2004 by reason of finance (no.2) act, 2004.mr. k.p. ..... origin along with reasonable addition for selling and any other cost, and for profits, as determined under sub-section (2).sub-section (8) of section 9a was introduced by finance act, 2004. ..... normal value, then, upon the importation of such articles into india, the central government may, by notification in the official gazette, impose, -(a) if the articles is not otherwise chargeable with duty under the provisions of this act, a duty; or(b) if the article is otherwise so chargeable, an additional duty, not exceeding the margin of dumping in relation to such article;the central government, in exercise of its power thereunder, issued a notification ..... that the parliament intended to apply the provisions of section 15 of the customs act in section 9a of the customs tariff act, prior to 2004. .....

Arun Excello Foundations (P) Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Chennai

Reported in : LC(2007)(3)269

..... , 2005 by the finance (no.2) act, 2004. ..... view of the clear language of the section which did not postulate any restriction regarding the extent of shops and commercial establishments under section 80-ib(10) and such restrictions with retrospective effect imposed only by finance act, 2004 w.e.f. ..... 2) act, 2004 w.e.f.1st april, 2005, sub-section (10) as amended by the finance act, ..... act, 2004 and notes on clauses in finance ..... 2000 by the finance act, 2000 and by the finance act, 2003 and as substituted by the finance (no. ..... 2001 and finance act, 2003 w.e.f. ..... 2000 has laid down various conditions and the provisions of section 80-ib amended by various finance acts as amended w.e.f. ..... to be eligible undertaking, developing and building housing projects and for claiming deduction under section 80-ib(10), finance act, 2000 w.e.f. ..... act, 2004 (23 of 2004) ..... 2) act, 2004 which reads as under: extension of the time-limit for obtaining approval of housing projects for the purpose of tax holiday under section 80-ib, and allowing deduction for redevelopment or reconstruction of existing buildings under ..... 2) act, 2004 which reads as under: under the existing provisions contained in sub-section (10), hundred per cent deduction of the profits of an undertaking developing and building housing projects is allowed if the housing project is approved by a local ..... 2) act, 2004 and the same provided clause (d) of section 80-ib(10), where restriction is put regarding the maximum commercial area to be built-up in view of .....

Amit Estate Organizer Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in : (2008)113TTJ(Ahd.)1018

..... the reference made by the ao to the departmental valuer could not be held to be bad in law, in view of the provisions of section 142a, as inserted by the finance (no.2) act, 2004, with retrospective effect from 15th nov ..... 1995-96, 1996-97 and 1998-99 as well as for making any addition on the basis of such report in these three assessment years.23.2(ii) here, it can be argued that after the insertion of provisions of section 142a by the finance (2) act, 2004 with retrospective effect from 15th nov. ..... on account of alleged difference in cost of construction; there shall have to be a corresponding deduction of identical amount because the amendment brought about in section 69c by finance (2) act of 1999 being effective from 1st april, 1999 was applicable only for asst. yr. ..... effect from 1st april, 1998, second proviso to section 143(l)(a) was substituted by the finance act, 1997, which was operative till 1st june, 1999. ..... june, 1994 by finance act 1994. ..... june, 1999 by explanation as introduced by the finance act (no. ..... a result of insertion of explanation to section 143 by the finance act (no. ..... but we are of the opinion that it is not so because the provisions of section 142a, though have been made applicable only to the cases where the assessments had not become final on or before 30th day of september, 2004, but in our opinion, these provisions have not made the references having made under section 131(l)(d) of the act in the cases where the assessments have not become final till 30th sept. .....

The Timken Company 1835 Dueber Avenue Sw., Canton, Ohio – 44706 0 ...

Court : Authority for Advance Rulings

..... share in a company or a unit of an equity oriented fund where (a) the transaction of sale of such equity share or unit is entered into on or after the date on which chapter vii of the finance (no.2) act, 2004 comes into force; and (b) such transaction is chargeable to securities transaction tax under that chapter : [provided that the income by way of long-term capital gain of a company shall be taken into account in ..... amount equal to seven and one-half per cent of the book profit, if the tax payable on the total income chargeable to tax as per the provisions of the income-tax act, 1961, is less than seven and one-half per cent of the book profit (emphasis supplied) the notes explaining the provisions have accepted/clarified the law that section 115jb is a ..... of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of parts ii and iii of schedule vi to the companies act, 1956 (1 of 1956): provided that while preparing the annual accounts including profit and loss account,- (i) the accounting policies; (ii) the accounting standards adopted for preparing such accounts including profit ..... section 115j (1a), inserted by finance act 1989, which were identical ..... to the notes on clauses explaining the provisions of finance bill 2002, 254 itr (st) 118, which provided for some amendments to section 115jb, which read as follows: clause 49 seeks to amend section 115jb of the income-tax act relating to special provision for payment of tax .....

Kasturi and Sons Ltd. Vs. Union of India Rep. and ors.

Court : Chennai

..... in the counter affidavit filed by the respondents, it is stated that the services done by outsourcing agencies are to be treated as business auxiliary service as defined under section 65(19) of the finance act, 1994 as substituted by the finance (no.2) act, 2004 and the definition information technology service includes computer software, system networking, data processing, etc. ..... (e) it is stated that the impugned circular does not impose any tax liability but only explains the scope of changes made by virtue of the amendments in the finance act, 2004 and therefore, the question that it is violative of article 265 of the constitution of india does not arise. ..... that was also followed in the finance act, 2004, with effect from 10.9.2004 and that status has been followed till the finance act, 2007, as stated above. ..... therefore, according to the respondents, the maintenance branch of information technology was brought into the purview of service tax structure by the amendment made to section 65(19) by explanation (b) in finance act, 2004. ..... state of andhra pradesh [(2004) 178 elt 22 (sc) = (2005) 1 scc 308] and observed that software being goods, any service in relation to maintenance or repairing or servicing of software is liable for service tax under section 65(105)(zzg) read with section 65(19) of the finance act, 1994 and hence, the circular is in supercession of earlier circulars.5. .....

Commissioner of Income Tax – Ii, Lucknow Vs. Ms. Lucknow Public Educ ...

Court : Allahabad

..... the finance act, 2004 with ..... the section was inserted by the finance (no.2) act, 2004 with effect from 15.11.1972 to confer power on the assessing officer, to refer the matter to ..... account such report in making such assessment or re-assessment:provided that nothing contained in this section shall apply in respect of an assessment made on or before the 30 th day of september, 2004, and where such assessment has become final and conclusive on or before that date, except in cases where a reassessment is required to be made in accordance with the provisions of section 153a.explanation. ..... had not considered the provisions of section 142a of the act which was introduced by finance act no. ..... 136 of 2007, which relates to assessment year 2003-2004, was admitted by order dated 03.12.2007 on the following substantial question of law:-the income tax appellate tribunal further erred in law in not correctly appreciating the provisions of section 142a of the act introduced with retrospective effect from 15.11.1972 correctly as ..... 2004-2005, the assessee society also stood registered under section 12a of the income tax act, 1961 (hereinafter referred to as the 'act ..... 2004-2005, following substantial question of law arises for consideration:-whether the hon'ble tribunal has erred in law in holding that for a reference to the valuation officer under section 142a to be valid, it is necessary that the assessing officer must first reject the books of accounts in terms of section 145 (3) of the income tax act .....

Leela Bhagwansing Advani and ors. Vs. Union of India and anr.

Court : Mumbai

..... 30th may 1995 and that the said section was inserted subsequently by finance (no.2) act, 2004 with effect from 1st october 2004. ..... commissioner of income tax reported in 201 itr 435 (sc) was called upon to consider similar provisions contained in section 194c of the act under which a person responsible to make payment to a contractor is required to deduct tax at source before making the payment. ..... it is contended that if the amount of compensation was paid immediately after the award, then there would have been no question of deducting tax at source under section 194la of the act, because the said section 194la was not on the statute book on the date of the award i.e. ..... as regards the deduction of tax at source is concerned, the argument of the petitioners is that under section 12(2) of the land acquisition act, the compensation was payable to the petitioners immediately after the award dated 30th may 1995. ..... therefore, the argument that section 194la purports to impose tax on the cost of the land acquired under the land acquisition act is without any merit. ..... the petitioners have also challenged the constitutional validity of section 194la of the income tax act, 1961.2. .....

Guru Rao and Another Vs. the State of Karnataka, by Its Secretary to D ...

Court : Karnataka Dharwad

..... the finance (no.2)act, 2004 inserted section ..... circular at annexure `b dated 4.9.2010, the state government has clarified that tax has to be deducted at source in respect of the interest awarded under sections 28 and 34 of the act on the compensation for acquiring the agriculture lands though deduction of tax at source shall not be made in respect of compensation paid for acquisition of agricultural land. 14. ..... however, the land acquisition officer has proceeded to deduct 10% of the interest awarded under sections 28 and 34 of the act towards deduction of tax at source on the basis of the circular issued by the state government at annexure `b dated 4.9. ..... learned counsel for the petitioners submits that having regard to section 194la of the income tax act, 1961, the second respondent is not justified in deducting the tax at source from the interest accrued on delayed payment ..... for consideration in these writ petitions is whether the land acquisition officer, koppal, the second respondent herein is justified in deducting 10% of the interest awarded under sections 28 and 34 of the land acquisition act, 1894 (for short `the act) towards deduction of tax at source though the lands acquired were agricultural lands. 2. ..... perusal of the different provisions of the land acquisition act would disclose that after the statutory notifications are issued and the requisite notice is given to the persons interested in the lands acquired, the deputy commissioner, after holding necessary enquiry makes .....