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Whether the service of a copy of the order by Speed Post, would constitute valid service under Customs Act, 1962? - Held Yes - HC    *    Donation to political party - Return filed with Election Commission, indicate the name and donor details - Deduction u/s 80GGC allowed - Tri    *    Seeks to further amend notification No.12/2012-Central Excise dated 17.03.2012 so as to levy Basic Excise Duty at a concessional rate of 2% on Aviation Turbine Fuel drawn by operators or cargo operators from the Regional Connectivity Scheme (RCS) airports for a period of 3 years    *    Amendment in Notification No.78/2014-Customs (N.T.) dated the 16th September, 2014    *    WITH GST CONSTITUTIONAL AMENDMENTS, WHAT NEXT ?    *    Companies Act, 2013-25 Key Highlights    *    Just because the Nepalese suppliers had billed the appellants separately for transportation from Nepal border to factory premises alongwith other expenses, they do not become the agents of the appellants - tappellants cannot be treated as recipients of GTA services in terms of Notification No. 35/04-S.T. – appellant not liable to pay service tax - Tri    *    Method of valuation - the food processor basic unit along with the accessories are to be assessed together as electric mechanical domestic appliance with self contained electric motor and are chargeable to duty on MRP basis. - Tri    *    Invokation of extended period of limitation - willful misstatement/ suppression of facts - something more must be shown to construe the acts of the appellant as fit for the applicability of the proviso. - Tri    *    To take a view that the benefit of exemption can be extended only to those pipes which physically carry water and deny it to those which are used as Casing Pipes (which are also needed for delivery of water) would defeat very purpose of the Exemption Notification meant for giving the benefit to water treatment plants - Tri    *    Refund claim - period of limitation - In fact there is no time limit prescribed for issue of show-cause notice under Section 11B and thus it is open to Revenue to point out the short comings in the refund claim - Tri    *    Housing' made of plastic is not eligible for exemption available to the 'connector's. However many of such small consignments have been cleared under claim for exemption. - levy of penalty confirmed, though reduced - Tri    *    Regarding cenvat credit on service tax on rent a cab    *    Revised guidelines for disposal of confiscated goods - regarding    *    RBI Reference Rate for US $    *    Retrospective amendment - curtailment of the sales tax incentives by way of deferral – constitutional validity - impact on completed assessment - The amended provisions cannot be invoked and applied in the present factual controversy. - HC    *    Demand of interest and penalty - bonafide belief - Nature of works contract civil contract or construction contract - appellant paid the tax on the basis of 12% later on - The authorities below have committed an error of law and when the tax imposed has already been paid by the appellant, the penalty and interest is therefore not required to be liable to be paid by the appellant. - HC    *    Addition u/s 40A(2)(a) r.w.s 69C - whether the appellant has substantiated the plea that the visits made to foreign countries were for promotion of business? - appellant did not satisfy the requirements for claiming deductions, disallowance has to consequently follow. - HC    *    Eligible to claim deduction under sec. 54F - For availing deduction under sec. 54F of the Act, the property though shown as residential on the record of the municipality but the test will be actual user of the premises by the assessee during the relevant period. - Tri    *    Cenvat credit on water treatment plant    *    Employees sent on deputation to subsidiary/ associate companies (Service Tax)    *    CIT u/s 263 has simply directed the AO, without satisfying himself, to verify whether the bifurcation made by assessee was with a view to reduce tax or not. No infirmity for offering the tax on sale of brands as LTCG. There is no merit in CIT’s observation for treating the same as business income. - Tri
Finance Act
Home Acts & Rules Finance Act Act THE FINANCE ACT, 2007 Chapters List

THE FINANCE ACT, 2007

 
Chapter: I
PRELIMINARY
Section 1 : Short title and commencement
Chapter: II
RATES OF INCOME-TAX
Section 2 : Income-tax
Chapter: III
Direct Taxes (Income-tax )
Section 3 : Amendment of section 2
Section 4 : Amendment of section 7
Section 5 : Amendment of Section 9
Section 6 : Amendment of section 10
Section 7 : Amendment of section 10AA
Section 8 : Amendment of section 12A
Section 9 : Amendment of section 12AA
Section 10 : Amendment of Section 13
Section 11 : Amendment of section 17
Section 12 : Amendment of section 35
Section 13 : Amendment of Section 36
Section 14 : Amendment of section 40A
Section 15 : Insertion of new section 44DB
Section 16 : Amendment of section 47
Section 17 : Amendment of section 49
Section 18 : Amendment of section 54EC
Section 19 : Amendment of section 56
Section 20 : Amendment of section 72A
Section 21 : Insertion of new section 72AB
Section 22 : Amendment of section 80A
Section 23 : Amendment of section 80AC
Section 24 : Amendment of section 80C
Section 25 : Amendment of section 80CCD
Section 26 : Amendment of section 80D
Section 27 : Amendment of section 80E
Section 28 : Amendment of section 80-IA
Section 29 : Amendment of section 80-IB
Section 30 : Amendment of section 80-IC
Section 31 : Insertion of new section 80-ID
Section 32 : Insertion of new section 80-IE
Section 33 : Amendment of section 92CA
Section 34 : Amendment of section 115JB
Section 35 : Amendment of section 115-O
Section 36 : Amendment of section 115R
Section 37 : Amendment of Explanation to Chapter XII-E
Section 38 : Amendment of section 115WB
Section 39 : Amendment of section 115WC
Section 40 : Amendment of section 115WJ
Section 41 : Insertion of new section 115WKA
Section 42 : Amendment of section 120
Section 43 : Amendment of section 132B
Section 44 : Amendment of section 139
Section 45 : Insertion of new sections 139C and 139D
Section 46 : Amendment of section 142
Section 47 : Amendment of section 143
Section 48 : Amendment of section 153
Section 49 : Amendment of section 153B
Section 50 : Insertion of new section 153D
Section 51 : Amendment of section 172
Section 52 : Amendment of section 193
Section 53 : Amendment of section 194A
Section 54 : Amendment of section 194C
Section 55 : Amendment of section 194H
Section 56 : Amendment of section 194-I
Section 57 : Amendment of section 194J
Section 58 : Amendment of section 197A
Section 59 : Amendment of section 201
Section 60 : Amendment of section 206A
Section 61 : Amendment of section 206C
Section 62 : Amendment of section 245A
Section 63 : Amendment of section 245C
Section 64 : Amendment of section 245D
Section 65 : Amendment of section 245DD
Section 66 : Amendment of section 245E
Section 67 : Amendment of section 245F
Section 68 : Amendment of section 245H
Section 69 : Insertion of new sections 245HA and 245HAA
Section 70 : Substitution of new section for section 245K
Section 71 : Amendment of section 246A
Section 72 : Substitution of new section for section 248
Section 73 : Amendment of section 249
Section 74 : Amendment of section 253
Section 75 : Amendment of section 254
Section 76 : Amendment of section 271
Section 77 : Insertion of new section 271AAA
Section 78 : Insertion of new section 292C
Section 79 : Amendment of section 295
Section 80 : Amendment of section 296
Section 81 : Amendment of Second Schedule
Section 82 : Amendment of Fourth Schedule
Chapter: IIIa
Wealth-tax
Section 83 : Amendment of section 2
Section 84 : Amendment of section 22A
Section 85 : Amendment of section 22C
Section 86 : Amendment of section 22D
Section 87 : Amendment of section 22D
Section 88 : Amendment of section 22E
Section 89 : Amendment of section 22F
Section 90 : Amendment of section 22H
Section 91 : Inserted section 22HC (1)
Section 92 : Substitution of new section for section 22K
Section 93 : Insertion of new section 42D
Chapter: IV
Indirect taxes Customs
Section 94 : Amendment of section 2
Section 95 : Substitution of new section for section 14
Section 96 : Amendment of section 27
Section 97 : Amendment of section 28E
Section 98 : Amendment of section 75A
Section 99 : Omission of Chapter XA
Section 100 : Amendment of section 127A
Section 101 : Amendment of section 127B
Section 102 : Substitution of new section for section 127C
Section 103 : Amendment of section 127E
Section 104 : Amendment of section 127F
Section 105 : Amendment of section 127H
Section 106 : Amendment of section 127J
Section 107 : Amendment of section 127K
Section 108 : Amendment of section 127L
Section 109 : Omission of section 127MA
Section 110 : Amendment of section 129
Section 111 : Amendment of section 129D
Section 112 : Amendment of section 135
Section 113 : Amendment of section 156
Chapter: IVa
Customs tariff
Section 114 : Amendment of Fist Schedule and Second Schedule
Chapter: IVb
Excise
Section 115 : Amendment of section 3
Section 116 : Insertion of new section 5B
Section 117 : Amendment of section 11B
Section 118 : Amendment of section 23A
Section 119 : Amendment of section 31
Section 120 : Amendment of section 32A
Section 121 : Amendment of section 32E
Section 122 : Substitution of new section for section 32F
Section 123 : Amendment of section 32H
Section 124 : Amendment of section 32-1
Section 125 : Amendment of section 32K
Section 126 : Amendment of section 32M
Section 127 : Amendment of section 32N
Section 128 : Amendment of section 32-O
Section 129 : Omission of section 32PA
Section 130 : Amendment of section 35E
Section 131 : Amendment of section 35F
Section 132 : Amendment of section 37
Section 133 : Amendment of Third Schedule
Chapter: IVc
Excise tariff
Section 134 : Amendment of First Schedule to Act 5 of 1986
Chapter: V
Service tax
Section 135 : Amendment of Act 32 of 1994
Chapter: VI
SECONDARY AND HIGHER EDUCATION CESS
Section 136 : Secondary and Higher Education Cess
Section 137 : Definition
Section 138 : Secondary and Higher Education Cess on excisable goods
Section 139 : Secondary and Higher Education Cess on imported goods
Section 140 : Secondary and Higher Education Cess on taxable services
Section 141 : Amendment of Act 23 of 2004
Chapter: VII
Miscellaneous
Section 142 : Amendment of section 14 of Act 74 of 1956
Section 143 : Amendment of First Schedule to Act 58 of 1957
Section 144 : Amendment of section 94 of Act 18 of 2005
Chapter: SCH
Schedule
SCH 01 : FIRST SCHEDULE
SCH 02 : SECOND SCHEDULE
SCH 03 : THIRD SCHEDULE
SCH 04 : FOURTH SCHEDULE
SCH 05 : FIFTH SCHEDULE
SCH 06 : SIXTH SCHEDULE
Memorandum to Finance Bill, 2007
Memo : Memorandums
 
 
 
 
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