Judgment Search Results Home > Cases Phrase: finance no 2 act 2009 section 49 insertion of new section 115wm Court: kerala Page 1 of about 7 results (0.103 seconds)

CochIn Company Vs. Commissioner of Income-tax

Court : Kerala

Reported in : [1978]114ITR822(Ker)

..... the assessee had put forward a plea before the income-tax officer that it was entitled to a rebate of tax under section 2(5)(a)(i) of the finance act, 1966, since its total income included profits and gains derived from the export of goods out of india. ..... the expression 'new' occurring in section 33(1)(a) of the act has, in the context, to be construed in its ordinary grammatical sense as meaning 'not existing before ; now made, or brought into existence, for the first time' and in antithesis to the word 'used'. ..... clause (a) of sub-section (1) of the said section provides for a deduction being allowed by way of development rebate in respect of a new ship or new machinery which is owned by the assessee and is wholly used for the purpose of business carried on by him. ..... admittedly, the trawler purchased by the assessee was not a 'new' ship and hence clause (a) of sub-section (1) of section 33 is not attracted. ..... the fact that in respect of ships and machinery which before the date of acquisition by the assessee were used by some other person separate provisions have been specifically made by parliament in sub-clauses (a) and (b) of sub-section (1a) of the same section, shows beyond doubt that the term 'new' has been employed in contradistinction with the expression 'used'. ..... this allowance is admissible in respect of machinery or plant being new, which has been installed after 31st march, 1954, and which is wholly used for purposes of his business carried on by an assessee. .....

New Traders Vs. State of Kerala

Court : Kerala

Reported in : [2001]123STC82(Ker)

..... state of kerala [1994] 94 stc 95, this court held that the legislation, in giving retrospectivity to the finance act, 1987, was in no way unreasonable, nor did it make any inroads into the dealer's fundamental or other ..... the contention urged by them is that a declaration was published under section 3 of the kerala provisional collection of revenues act, 1985 by virtue of which, the provision in the finance bill, 1998 by which, the purchase tax at the last point of sale with regard to the coffee was ..... cannot be any doubt that in so far as the finance act authorises levy at the first point of sale, petitioners cannot contend that the act cannot be enforced against them. ..... in the above cases who are the first point purchasers of coffee raised the issue contending that the finance bill, though a bill, of course has the force of law in view of the declaration issued under the kerala provisional collection of revenues act, 1985, and consequently no tax can be levied from them by virtue of the finance act, 1998. ..... goes without saying that in so far as the finance act is a valid piece of legislation, the petitioners have to pay tax as per the finance act. ..... have not challenged the retrospective effect given to the finance act, 1998. ..... the finance act was made into force with effect from april 1, ..... already stated they have also not challenged the respective nature of the finance act. ..... of 2000 notice has been issued under section 45a of the kerala general sales tax act, 1963, for exemption of penalty. .....

M.V. Ganesh, Lr of Late M.S. Viswambharan Vs. Commissioner of Income T ...

Court : Kerala

Reported in : (2009)221CTR(Ker)83; [2009]310ITR183(Ker); [2009]181TAXMAN227(Ker)

..... section 87(f) of the finance act defines 'disputed tax' to mean, the total tax determined and payable, in respect of an assessment year under any direct tax enactment but which remains unpaid as on the date of making the declaration under section 88 of the finance act. ..... as required under the scheme, the assessee had filed an application under section 88 of the finance act before the designated authority. ..... sub-clause (i) of section 88(a) of the finance act would not apply to the appellant, since the declarant is not a company or a firm ..... the above view of the matter, in our view, the designated authority was justified in granting relief only under sub-clause (iv) of section 88(a) of the finance act.20. ..... a situation of this nature, the designated authority was justified in placing reliance on sub-clause (iv) of section 88(a) of the finance act.18. ..... -clause (iii) provides for the procedure that requires to be followed by the designated authority for considering the application filed under section 88 of the finance act. ..... what is not necessary for the case, we would only refer to sub-clauses (ii), (iii) and (iv) of section 88(a) of the finance act. ..... section 87(e) of the finance act provides for the meaning of the expression 'disputed income', in relation to an assessment year, as, the whole or so much of the total income as is relatable to the disputed tax ..... section 87(d) of the finance act provides for the meaning of the expression 'disputed chargeable interest' in relation to an assessment .....

Asramam Village Industrial Co-op. Society Ltd. Vs. Union of India (Uoi ...

Court : Kerala

Reported in : 1988(18)ECC69; 1988(17)LC691(Kerala); 1988(38)ELT14(Ker)

..... the supreme court held in that context that section 51 of the finance act, 1982 was subject to the provisions of section 11a of the act, and that was sufficient to allay the apprehension of the ..... the petitioner's plea for bar of time was not accepted, for the reason that the demand had been raised as per section 52 of the finance act, 1982 under which it was stated, there could not be any limitation of time. ..... i am unable to accept the respondents' contention that section 52 of the finance act, 1982 overrides the provisions of section 11a of the act and does away with the period of time for levy and collection of the amounts which have become payable by the operation of that ..... though the petitioner before me has also challenged the constitutional validity of section 52 of the finance act he did not persist in it, and was rest content with accept ing the correctness of the decision of the madras high court in the case of bharath match works ..... respondents contest this submission with the plea that section 52 of the finance act, 1982 enables them to review all cases of this nature and to make demand in all cases where the amount would have been payable if the section had been in force from june 19, 1980. ..... the contention of the revenue that section 52 of the finance act overrides section 11a was not accepted, the court observing ..... p8, on the ground that the question of validity of section 52 of the finance act, 1982, raised by the petitioner, could not be gone into by the tribunal .....

Commissioner of Income Tax Vs. N. C. John and Sons Ltd.

Court : Kerala

Reported in : (1996)135CTR(Ker)319

..... of such goods, services or facilities;(ix) such other activities for the promotion of the sale outside india of such goods, services or facilities as may be prescribed.original explanation was renumbered as explanation 1 and a new explanation 2 was inserted by finance act, 1973 w. r. e. f. ..... be allowed in relation to any expenditure incurred after the 31st day of march, 1978, unless the following conditions are fulfilled, namely :(a) the assessee referred to in that sub-section is engaged in -(i) the business of export of goods and is either a small scale exporter or a holder of an export house certificate; or(ii) the business of provision of technical know-how, or the rendering of services in connection with the provision of ..... subject to the provisions of this section, be allowed a deduction of a sum equal to one and one-third times the amount of such expenditure incurred during the previous year :proviso inserted by direct taxes (amendment) act, 1974, w. r. e. f ..... (a).explanation - for the purposes of this sub-section, -(a) 'small scale exporter' means a person who exports goods manufactured or produced in any small scale industrial undertaking or undertakings owned by him :provided that such person does not own any industrial undertaking ..... we have already analysed the provisions of section and in regard thereto we have already emphasized on the basis of reference to ..... (2) where a deduction under this section is claimed and allowed for any assessment year in respect of any expenditure .....

Commissioner of Income-tax Vs. Travancore Minerals Ltd.

Court : Kerala

Reported in : [1981]130ITR631(Ker)

..... , or the 1st day of april, 1965, with reference to which the amount of the rebate arrived at under the first proviso to paragraph d of part ii of the first schedule to the finance act, 1964 (v of 1964), or, as the case may be, the first proviso to paragraph f of part i of the first schedule to the finance act, 1965 (x of 1965), is required to be reduced under the second proviso to the said paragraph d or, as the case may be, the second proviso to the said paragraph f, as diminished by so ..... the ito acting in exercise of the power conferred under section 148 of the act, reopened the assessment made against the company for the year 1966-67, on the ground that the distribution of dividend made by the assessee during the accounting year relevant to the said assessment year had been wrongly omitted to be subjected to tax as required under the finance acts, 1965 and ..... the tribunal held that levy of additional tax under paragraph f(i)(b) of part i of the first schedule of the finance act, 1966, would be warranted only if the dividend distributed by the assessee-company was in excess of 10% of the paid up capital, and since the facts of the case disclosed that the dividend distributed was only 5%, ..... 1, it is clear that for the purposes of sub-clause (b) of clause i of paragraph f of the first schedule to the finance act, 1966, only amounts distributed by way of dividends by companies which had earned income or profits liable to tax during the assessment years 1964-65 and 1965-66 is to be .....

All Kerala Chartered Accountants Association Vs. Union of India (Uoi)

Court : Kerala

Reported in : (2002)176CTR(Ker)268; [2002]258ITR679(Ker)

..... , unless he has obtained from the council a certificate of practice and that every such member shall pay such annual fee for his certificate as may be prescribed on the prescribed dates under section 65(31) of the finance act, 1998, the definition of 'practising chartered accountant' means a person who is a member of the institute of chartered accountants of india and is holding a certificate of practice granted under the provisions of the chartered accountants ..... petitioner is an association of chartered accountants in kerala registered under the travancore cochin charitable societies act, which impugns the service tax levied on its members by reason of sections 64 to 96 of the finance act, 1994, (32 of 1994), as amended by finance act, 1998 (2 of 1998).background of the levy : as an off-shot of the ..... of 1956);or (viii) certification in form i that the whole of the amount remaining unpaid or unclaimed for a period of three years from the date of transfer to the special account under sub-section (1) and sub-section (2) of section 205 a of the companies act, 1956 (1 of 1956) has been transferred to the general revenue account of the central government under the companies unpaid dividend (transfer to general revenue account of the central government) rules, 1978;or (ix) ..... finance act, 1999 did not extend the scope of levy of service tax to any new ..... has to be kept in mind that tax on services is a new attempt made by parliament and its efficacy can be determined after considerable time .....

Kerala Colour Lab. Association Vs. Union of India (Uoi)

Court : Kerala

Reported in : (2002)174CTR(Ker)464; 2003(156)ELT17(Ker); [2003]264ITR633(Ker); 2006[2]STR554; [2007]8STT353

..... hence also, it is contended that section 67 of the finance act is liable to be struck down as violative of article ..... definitions under the finance act are as under:-section 65(47): photography. ..... both these writ petitions under article 226 of the constitution of india challenge the imposition of service tax under finance act of 1994, as amended by the finance act of 2001, on the taxable service provided by a photography studio or agency, in relation to photography, in any ..... service tax was introduced for the first time by the finance act, 1994 and levied on certain categories of services like stock brokers, general insurers and ..... by the finance act, 1998, twelve more service were brought within the purview of service tax, namely, architects, interior decorators, management consultants, real estate agents, practising chartered accountants, practising company secretaries, practising cost accountants ..... tax net was widened by adding twelve more services by the finance act, 1997. ..... to be extended to advertising agencies, courier agencies and pager services by the finance act of 1996. ..... east punjab (1948 fcr 267, air 1949 fc 81), the federal court held that a tax on buildings under section 3 of the punjab urban immovable property tax act, 1940 measured by a percentage of the annual value of such buildings remained a tax on building under that act even though the measure of annual value of a building was also adopted as a standard for determining income from property under the income tax act. .....

M/S.Muthoot Finance Limited Vs. Union of India

Court : Kerala

..... it is also the case of the petitioner that while issuing the show cause notice in terms of section 73 of the finance act, 1994, as amended, the respondents have not first resorted to the provisions of section 72 to complete a best judgment assessment against the petitioner, and therefore, to that extent, the issuance of the show cause notice even prior to the completion ..... the issue of invoking the provisions of sections 72 and 73 of the finance act, 1994, as amended, it is ..... are issued by invoking the power under section 73 of the finance act, 1994, and section 72 only provides for the manner in which assessment is done for the purposes of recovering the amount due as per section 73. ..... bench of the high court of telengana & andhra pradesh has taken a prima facie view that, in as much as the lis in question had commenced prior to the introduction of the amendment to the finance act, 1994, with effect from august 2014, the petitioner's right of appeal as per the erstwhile provisions of law would not be w.p. ..... i make it clear that, if the petitioner prefers a duly constituted appeal under the provisions of the finance act, 1994, as they stood prior to 16.08.2014, then the appellate tribunal shall number the appeal, and consider the application filed by the petitioner for waiver of pre-deposit and ..... secretary, ministry of finance, department of revenue, north block, new delhi - 110 001 ..... agreement entered into between the petitioner and bank in the case of premium transaction dated193.2009. .....

The Commissioner of Income Tax Vs. M/S Merchem Limited

Court : Kerala

..... a short question which arises for determination in this batch of civil appeals is whether omission (deletion) of the second proviso to section 43b of the income-tax act, 1961, by the finance act, 2003, operated with effect from 1st april, 2004, or whether it operated retrospectively with effect from 1st april, 1988?".21. ..... , the deletion of the second proviso to section 43b and the amendment in the first proviso to section 43b by the finance act, 2008 is required to be confined to section 43b alone and the deletion of the second proviso to section 43b, vide the amendment pursuant to the finance act, 2003, cannot be made applicable with respect to section 36(1)(va) of the act. ..... of the second proviso to section 43b, vide the finance act, 2003, would be with respect to section 43b and with respect to any sum mentioned in section 43b(a) to (f) and in the present case, the employer's contribution as mentioned in section 43b(b). ..... it appears that prior to the amendment of section 43b of the act, vide the finance act, 2003, an assessee was entitled to deductions with respect to the sum paid by the assessee as an employer by way of ..... therefore, the industry once again made representation to the ministry of finance and, taking cognizance of this difficulty, the parliament inserted one more amendment vide finance act, 2003, which, as stated above, came into force w.e.f. ..... ' [(2009) 319 itr306(sc)] was concerned, the issues involved ..... ' [(2009) 319 itr306(sc)] was not followed by the assessing .....