Court : Karnataka
..... senior advocate appearing for the learned counsel for the petitioners, shri m. shivaprakash and shri jawahar babu, in wp59461 62/2014, contends that section 24(2) of act no.30/2013 is a deeming provision. it would apply only under two circumstances: a) where physical possession is not taken, b) where award was ..... the central government would create the enabling policy frame work, provide incentives for infrastructure development on a public private partnership (ppp) basis through appropriate financing instruments, and state governments would be encouraged to adopt the instrumentalities provided in the policy. the policy further states, while the nimz is an ..... executive member. respondents27senior for shetty, advocate shri ashok haranahalli, senior advocate along with shri k. shashikiran shri p.v.chandrashekhar, advocate for respondent nos.2 and3) these writ petitions filed under articles 226 and 227 of the constitution of india praying to declare that the acquisition of the petitioner s .....
Tag this Judgment!Court : Kolkata
..... followed. he submits that, the writ petition should be dismissed. the constitutional validity of clause (i) of explanation 1 to section 115jb(2) of the income tax act, 1961 as inserted by the finance (no.2) act, 2009 with retrospective effect from april 1, 2001 is the subject matter of the present writ petition. the constitutional validity of such a ..... diminution in the value of assets, that is, a debt. he contends that, soon after hcl comnet systems and services ltd.(supra) the finance (no.2) act, 2009 was introduced to the parliament on july 6, 2009 containing proposals for insertion of clause (g) of explanation to section 115ja ..... j.:- the petitioners challenges the vires of clause (i) of explanation 1 to section 115jb(2) of the income tax act, 1961 in its prospective and retrospective operation. learner senior advocate for the petitioners submits that, such clause was inserted by the finance (no.2) act, 2009 with retrospective effect from april 1, 2001. it provides that, the net profit .....
Tag this Judgment!Court : Delhi
..... the commissioner (appeals) by an order dated 12th october 2000, dismissed the... petitioner s appeal confirming the order rejecting the refund claim. serta12017 page 2 of 6 7. under the finance act 2003, the levy of service tax on recipients of service with effect from 16th july, 1997 to 16th october, 1998 was validated. aggrieved by the ..... with section 83 of the finance act, 1994 ( fa ) against the final order dated 20th september, 2016 passed by the customs, excise and service tax appellate tribunal, delhi ( cestat ) dismissing appeal no.st/a/53726/2016-cu(db).2. the facts in brief are that the appellant/assessee is inter alia engaged in the manufacture of clinker ..... and cement falling under chapter heading 25 of the ce tariff act, 1985. between 16th july, 1997 and 30th september, 1999, .....
Tag this Judgment!Court : Delhi
..... the given facts and circumstances of the case. 3. the background facts are that hudco is a public sector undertaking engaged primarily in providing long-term finance for construction of houses for residential purposes or undertaking housing and urban development programmes in the country. each of the returns filed by hudco for the ..... accommodation or investment in shares and other securities which, having regard to the paid-up capital, reserves and deposits of the housing finance institution and other relevant considerations, may be made by that housing finance institution to any person or a company or to a group of companies.36. chapter v to override other laws. the provisions ..... ) affirmed the order of the ao, the matter travelled to the itat which held that no such addition could be made. 21.2 the revenue s appeal raised two questions, one of which is whether the rbi guidelines would override the provisions of the act. it was held that the directions issued by the rbi under the rbi .....
Tag this Judgment!Court : Delhi
..... earlier years which have been accepted by the itat to be from non-interest bearing funds. it was held that no mistake had crept into the impugned order which would warrant rectification under section 254 (2) of the act.17. it requires to be recalled at this stage that the assessee has filed two appeals against the impugned ..... liability of the assessee under section 154, for any assessment year beginning on or before the 1st day of april, 2001." 26. the 'memorandum explaining the provisions of the finance bill, 2001' [2001]. 248 itr (st.) 162, 195, by which section 14 a was introduced, with retrospective effect from 1st april 1962, stated:"certain incomes are ..... disallowed voluntarily as an expenditure which could be attributable for earning the said income. the assessee explained that the disallowance had been determined on the basis of cost of finance department in the ratio of exempt income to total turnover. on that basis the disallowance in ay200506 was upheld by cit (a) at rs. 1 lakh. .....
Tag this Judgment!Court : Delhi
..... ). the validity of section 94 2 (f) of ..... & 2. mr. amit bansal and mr. amit kulshrestha, advocates for respondent no.3. coram: justice s.muralidhar justice prathiba m. singh judgment dr. s. muralidhar, j.: introduction 1. this writ petition by the indian association of tour operators, seeks a declaration that rule 6a of the service tax rules, 1994 ( st rules ), concerning export of services is ultra vires the finance act 1994 ( fa .....
Tag this Judgment!Court : Supreme Court of India
..... in connection with the business of exploration of mineral oils has been inserted by the finance act, 1987 with retrospective effect from 1st april, 1983. the scope and effect of new sec. 44bb was explained in departmental circular no.495 dated 22nd september, 1987. it has been mentioned in the said circular ..... court, argument of the assessee was that amount of mobilisation charges cannot be included in the amount referred to under sub-section (2) of section 44bb of the act as the mobilisation charges represent reimbursement of expenses incurred for transportation of drilling units of rigs from outside india to designated drilling places ..... lng by means of a turnkey fixed lump sum price time certain engineering procurement, construction and commission contract. the contract indisputably involved: (i) offshore supply, (ii) offshore services, (iii) onshore supply, (iv) onshore services and (v) construction and erection. the price was payable for offshore supply and offshore services in .....
Tag this Judgment!Court : Delhi
..... also highlighted the fallacies concerning each of the tax ass.15. after almost two years, i.e., in july 2014, an amendment was made to section 145 of the act by the finance (no.2) act, 2014. the amended section 145 reads as under: section 145: method of accounting (1) income chargeable under the head "profits and gains of business or profession" or "income from ..... other sources" shall, subject to the provisions of sub-section (2), be computed in accordance with either cash or mercantile system of accounting regularly employed by the wp (c) 5595/2017 .....
Tag this Judgment!Court : Supreme Court of India
..... section (3) to section 14a were inserted, it was with effect from 01.04.2006 which was mentioned in clause 1(2) of finance act, 2006 which was to the following effect: 1(2). save as otherwise provided in this act, sections 2 to 57 shall be deemed to have come into force on the 1st day of april, 2006. rule 8d which was ..... 1st april, 2007 and will, accordingly, apply in relation to the assessment year 2007 08 and subsequent years. 20. after the changes made in section 14a by the finance act, 2006, a circular no.14/2006 dated 28.12.2006 was issued, in which para 11 of the circular gave following explanation: 11.1 section 14a of the income tax ..... ) the provisions of sub section (2) shall also apply in relation to a case where an assessee claims that no expenditure has been incurred by him in relation to income which does not form part of the total income under this act. 19. memorandum explaining the provisions in finance bill, 2006 in reference to the method for allocating expenditure in relation .....
Tag this Judgment!Court : Supreme Court of India
..... 14 of cenvat credit rules, 2004 read with section 11a of central excise act, 1944; goods amounting transportation of (ii) demanding interest under rule 14 of cenvat credit rules, 2004 read with section 11ab of central excise act, 1944 read with section 75 of the finance act, 1994; 4 (iii) did not order for initiation of action under rule ..... final products from the place of removal to the warehouse or customer s place etc., was exigible for cenvat credit. this stands finally decided in civil appeal no.11710 of 2016 (commissioner of central excise belgaum v. m/s. vasavadatta cements ltd.) vide judgment dated january 17, 2018. however, vide amendment carried out ..... of services in transport of manufactured goods cannot be input service for the manufacture of final product. further, the adjudicating authority held that cbec vide its circular no.97/8/2007-st dated august 23, 2007 has clarified the definition of place of removal. with respect to fulfillment of requirement of circular dated august 23 .....
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