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Start Free TrialIndustrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Chapter II
Title: Transfer and Vesting of the Undertaking of Development Bank in Company
State: Central
Year: 2003
.....the undertaking of the Development Bank has vested by virtue of this Act as it might have been enforced by or against the Development Bank if this Act had not been enacted and shall cease to be enforceable by or against the Development Bank. Section 5 - Provisions in respect of officers and other employees of Development Bank (1) Every officer or other employee of the Development Bank (except a director of the Board or the chairman and managing director or any whole-time director) serving in the employment immediately before the appointed day shall, in so far as such officer or other employee is employed in connection with the undertaking which has vested in the Company by virtue of this Act, become, as from the appointed day, an officer or, as the case may be, other employee of the Company and shall hold his office or service therein by the same tenure, at the same remuneration, upon the same terms and conditions, with the same obligations and with the same rights and privileges as to leave, leave fare concession, welfare scheme, medical benefit scheme, insurance, provident fund, other funds, retirement, voluntary retirement, gratuity and other benefits as he would have.....
View Complete Act List Judgments citing this sectionKarnataka Value Added Tax Act, 2003 Section 2
Title: Definitions
State: Karnataka
Year: 2003
.....to have been made under this Act and includesa re-assessment. 1[(5A) Body corporate means a corporation, a company as defined under the Companies Act, 1956 (Central Act 1 of 1956) and a company incorporated outside India but does not include.- (a) a corporation sole; (b) a co-operative society registered under any law relating to co-operative societies; and (c) any other body corporate, not being a company as defined in the Companies Act, 1956, which the State Government may, by notification in the Official Gazette, specify in this behalf.] 2[(5-B) Branded means any goods sold under a name or trade mark registered or pending registration or pending registration of transfer under the Trade and Merchandise Marks Act, 1958 (Central Act 43 of 1958) or the Trade Marks Act, 1999 (Central Act 47 of 1999).] (6) 'Business'includes:- (a) any trade, commerce, manufacture or any adventure or concern in the nature oftrade, commerce or manufacture, whether or not such trade, commerce,manufacture, adventure or concern is carried on in furtherance of gain or profitand whether or not any gain or profit accrues therefrom; and (b) any transaction in connection with, or incidental.....
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Section 61
Title: Jurisdiction of Officers and Change of Incumbent of an Office
State: Karnataka
Year: 2003
.....the Commissioner may direct. (2) The word case' in relation to any dealer specified in any order or direction issued thereunder means all proceedings under this Act in respect of any year which may be pending on the date of such order or direction or which may have been completed on or before such date, and includes also all proceedings under this Act which may be commenced after the date of such order or direction in respect of any year. (3) Whenever in respect of any proceeding under this Act, any prescribed authority ceases to exercise jurisdiction and is succeeded by another who may exercise that jurisdiction, the authority or officer so succeeding may continue the proceeding from the stage at which the proceeding was left by his predecessor. (4) The person concerned may demand that before the proceeding under sub-section (3) is so continued, the previous proceeding or any part thereof be reopened or that before any order is passed against him, he be reheard.
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Chapter 7
Title: Appeals and Revision
State: Karnataka
Year: 2003
.....the Commissioner. (12) Every order passed by the Appellate Tribunal under sub-section (5) shall, subject to the provisions of sub-section (8), sub-section (9) and Section 65, be final and every order passed by it under sub-section (8) shall, subject to the provisions of sub-section (9) and Section 65, be final. Section 64 - Revisional powers of Additional Commissioner and Commissioner (1) The Additional Commissioner may on his own motion call for and examine the record of any order passed or proceeding recorded under this Act and if he considers that any order passed therein by any officer, who is not above the rank of a Joint Commissioner, is erroneous in so far as it is prejudicial to the interest of the revenue, he may, if necessary, stay the operation of such order for such period as he deems fit and after giving the person concerned an opportunity of being heard and after making or causing to be made such inquiry as he deems necessary, pass such order thereon as the circumstances of the case justify, including an order enhancing or modifying the assessment, or canceling the assessment or directing a fresh assessment. (2) The Commissioner may on his own motion call.....
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Section 62
Title: Appeals
State: Karnataka
Year: 2003
.....that period. (4) (a) No appeal against an order of assessment shall be entertained by the appellate authority unless it is accompanied by satisfactory proof of the payment of tax and penalty not disputed in the appeal. (b) The tax or other amount shall be paid in accordance with the order against which an appeal has been preferred. (c) The appellate authority may, in its discretion, give such directions as it thinks fit in regard to the payment of tax or other amount payable under clause (b), if the appellant furnishes sufficient security to its satisfaction in such form and in such manner as may be prescribed. (d) Where an order staying proceedings of recovery of any tax or other amount is passed in any proceedings relating to an appeal under sub-section (1), the appellate authority shall dispose of the appeal within a period of one hundred twenty days from the date of such order. (e) If such appeal is not so disposed of within the period specified in clause (d), the order of stay shall stand vacated after the expiry of the said period. (5) The appeal shall be in the prescribed form and shall be verified in the prescribed manner. (6) In disposing of an appeal,.....
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Section 63
Title: Appeal to the Appellate Tribunal
State: Karnataka
Year: 2003
.....its discretion, give such directions as it thinks fit, in regard to the payment of tax, if the appellant furnishes sufficient security to its satisfaction in such form and manner as may be prescribed. (7) (a) The Appellate Tribunal may, in case of appeal against an order passed by the appellate authority under Section 62, , in its discretion, stay payment of one half of tax or any other amount disputed, if the appellant makes payment of the other half of the amount disputed. (b) The Appellate Tribunal shall dispose of such appeal falling under clause (a) within a period of one hundred eighty days from the date of the order staying proceedings of recovery of one half of tax or other amount disputed and, if such appeal is not so disposed of within the period specified, the order of stay shall stand vacated after the said period. (8) (a) The Appellate Tribunal may, on the application either of the appellant or of the respondent, review any order passed by it under sub-section (5) on the basis of facts which were not before it when it passed the order. (b) No such application under clause (a) shall be preferred more than once in respect of the same order. (c) The.....
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Section 64
Title: Revisional Powers of Additional Commissioner and Commissioner
State: Karnataka
Year: 2003
.....whichever is later. (5) Every order passed in revision under sub-section (1) shall, subject to the provisions of sub-section (2) of this Section and Sections 66 and 67, be final. (6) Every order passed in revision under sub-section (2) shall, subject to the provisions of Sections 65 and 66, be final. (7) If the order passed or proceedings recorded by the appropriate authority referred to in sub-section (1) or (2), involves an issue on which the High Court has given its decision adverse to the revenue in some other proceedings and an appeal to the Supreme Court against such decision of the High Court is pending, the period spent between the date of the decision of the High Court and the date of the decision of the Supreme Court shall be excluded in computing the period referred to in clause (c) of sub-section (3). (8) In computing the period of limitation for the purpose of sub-section (3), any period, during which any proceeding under this Section is stayed by an order or injunction of any court, shall be excluded. (9) For the purposes of this Section, record shall include all records relating to any proceedings under this Act available at the time of.....
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Section 65
Title: Revision by High Court in Certain Cases
State: Karnataka
Year: 2003
.....tax due from him shall be collected in accordance with provisions of this Act, as the case may be. (10)(a) The High Court may, on the application of either party to the petition, review any order passed by it under sub-section (6) on the basis of facts which were not before it when it passed the order. (b) The application for review shall be preferred within such time and in such manner as may be prescribed, and shall where it is preferred by any person other than an officer empowered by the Government under sub-section (1) of Section 63 be accompanied by a fee of one hundred rupees. (11)(a) With a view to rectifying any mistake apparent from the record, the High Court may, at any time within five years from the date of the order passed by it under sub-section (6), amend such order. (b) The High Court shall not pass an order under this sub-section without giving both parties affected by the order a reasonable opportunity of being heard. (12) In respect of every petition preferred under sub-section (1) or (10), the costs shall be in the discretion of the High Court.
View Complete Act List Judgments citing this sectionValue Added Tax Act, 2003 Section 70
Title: Burden of Proof
State: Karnataka
Year: 2003
.....any claim that a transaction of sale or purchase effected by him or any other dealer, is not liable to be taxed, or liable to tax at a lower rate, or that a deduction of input tax is available, the prescribed authority shall, on detecting such issue or production, direct the dealer issuing or producing such document to pay as penalty: (a) in the case of first such detection, three times the tax due in respect of such transaction or claim; and (b) in the case of second or subsequent detection, five times the tax due in respect of such transaction or claim. (3) Before issuing any direction for the payment of the penalty under this Section, the prescribed authority shall give to the dealer the opportunity of showing cause in writing against the imposition of such penalty.
View Complete Act List Judgments citing this sectionKarnataka Value Added Tax Act, 2003 Chapter I
Title: Preliminary
State: Karnataka
Year: 2003
.....to have been made under this Act and includesa re-assessment. 1[(5A) Body corporate means a corporation, a company as defined under the Companies Act, 1956 (Central Act 1 of 1956) and a company incorporated outside India but does not include.- (a) a corporation sole; (b) a co-operative society registered under any law relating to co-operative societies; and (c) any other body corporate, not being a company as defined in the Companies Act, 1956, which the State Government may, by notification in the Official Gazette, specify in this behalf.] 2[(5-B) Branded means any goods sold under a name or trade mark registered or pending registration or pending registration of transfer under the Trade and Merchandise Marks Act, 1958 (Central Act 43 of 1958) or the Trade Marks Act, 1999 (Central Act 47 of 1999).] (6) 'Business'includes:- (a) any trade, commerce, manufacture or any adventure or concern in the nature oftrade, commerce or manufacture, whether or not such trade, commerce,manufacture, adventure or concern is carried on in furtherance of gain or profitand whether or not any gain or profit accrues therefrom; and (b) any transaction in connection with, or incidental.....
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