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M. Natarajan Vs. State by Inspector of Police, Spe, Cbi, Acb Chennai

Court : Supreme Court of India

Subject : Criminal

Acts : Indian Penal Code (IPC) - Sections 120B, 420, 467, 468 and 471; Prevention of Corruption Act, 1988 - Sections 13(1) and 13(2); Finance Act, 1998 - Sections 86 to 98; Indirect Tax Act; Direct Tax Act; Conservation of Foreign Exchange And Prevention of Smuggling Activities Act, 1974; Kerala Sales Tax Act; Central Excise Act, 1944; Customs Tariff Act, 1975; Central Excise Tariff Act, 1985; Central Excise Tariff Act, 1986; Code of Criminal Procedure (CrPC) - Sections 239, 245 and 482; Customs Act, 1962 - Sections 28, 90(1), 127H, 132 and 136; Constitution of India - Article 246; Wealth Tax Act, 1957; Gift Tax Act, 1958; Income Tax Act, 1961; Interest Tax Act, 1974; Expenditure Tax Act, 1987

Reported in : (2008)217CTR(SC)1; 2008(120)ECC141; 2008(156)LC141(SC); 2008(226)ELT679(SC); JT2008(6)SC451; 2008(8)SCALE290; (2008)8SCC413; (2008)3SCC(Cri)507.

for clearance of the car, secondly in a scheme, namely, Kar vivad Samadhan Scheme, 1998 (KVSS) floated vide Finance Act No. 2 of 1998 which commenced from 1.9.1998, it was clearly provided that if a tax- payer settles … the prosecution under the Customs Act, 1962, an equal deterrent is emphasized under the provisions of the COFEPOSA Act, 1974 i.e. provisions for preventive detention. Such preventive detention prohibits smugglers from indulging in further smuggling activities. In the … at the instance of Central Bureau of Investigation, Chennai for offences under Sections 120B read with Section 420, 468, 471 IPC and Section 13(2) read

The Delhi Cold Storage (P) Ltd. Vs. the Commissioner of Income-tax, B ...

Court : Delhi

Subject : Direct Taxation

Acts : Finance Act, 1973 - Sections 2(7)

Reported in : [1985]156ITR97(Delhi)

concessional rate of tax within the meaning of Ss 2(7)(c) and 2(8)(c) of the Finance Acts, 1973 and 1974 respectively. In this case the aforesaid decision of the Supreme Court in the case of Chowgule and Co. … cold storage could be held to be an Indastrial Company . for purposes of Section 2(7)(c) of the Finance Act, 1973 and the First Schedule thereto ?'The assessed is a company incorporated under the Indian Companies Act. The … of ore for sale within the meaning of section 8(3)(b) and rule 13; and (2) Whether the process of mining, conveying the mined ore from

India Tyre and Rubber Co. (India) Pvt. Ltd. Vs. Commissioner of Income ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961; Finance Act, 1974 - Sections 2(8)

Reported in : [1994]210ITR409(Bom)

in the manufacture of goods and as such it was not an industrial company as defined in the Finance Act, 1974 ?' 2. Section 2(8) (c) of the Finance Act, 1974, defines the expression 'industrial company' for the purposes … assessee was an 'industrial company' within the meaning of the said expression as defined in the Finance Act. 13. Learned counsel for the assessee has relied upon the ratio of the judgment of this court in the

State of Rajasthan Vs. Uka and ors.,

Court : Rajasthan

Subject : Tenancy

institutional thereto came into force on 21.9.1974 in the name of 'Rajasthan Agricultural Credit Operations (Removal of Difficulties) Act, 1974' (hereinafter referred to as 'the Act of 1974') with statement of objects and reasons, as follows:One of the … in getting the loans sanctioned to these categories of persons. There is also no provision at present in Section 13 of the Act, for the recovery of loans by the banks from the guarantors of agriculturist and through … therein which inhibit the entry of commercial Banks into the field of financing of agriculture. It will, therefore, be necessary to modify these laws for

Amrit Lal Seth Vs. Union of India and anr.

Court : Delhi

Subject : CriminalCustoms

Acts : Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 3(1); Constitution of India - Article 22(5); Customs Act, 1962 - Sections 111

Reported in : AIR1987Delhi340; 28(1985)DLT396

complaint in that regard was sent to the Directorate of Revenue Intelligence. Communications were sent to Hon'ble the Finance Minister as well as to the Secretary, Delhi Administration, Delhi regarding denial of interview to an Advocate with … of the powers conferred by Section 3(1) of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 with a view to preventing him from smuggling goods and abetting the smuggling of goods. The petitioner challenges … of the case are these. Searches pursuant to intelligence received on July 13, 1984 that huge quantities of contraband goods like scotch whisky and foreign

Commissioner of Wealth-tax Vs. Kodaikanal Club

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1983 - Sections 40, 40(1), 40(6) and 40(7); Wealth Tax Act, 1957 - Sections 2, 3 and 21AA; Finance Act, 1960 - Sections 13; Societies Registration Act, 1860; Income Tax Act, 1961 - Sections 2(17) and 2(18)

Reported in : (2003)181CTR(Mad)534; [2003]260ITR617(Mad)

assessable entities are individual, Hindu undivided family and company. In the year 1960, by Section 13 of the Finance Act, 1960, the levy of wealth-tax on the wealth of companies came to be excluded with effect form the … Board of Direct Taxes under Section 2(h)(iii) of the Wealth-tax Act with retrospective effect from the assessment year 1974-75 and thereby the assessee-club became inexigible to wealth-tax from the assessment year 1974-75 onwards. However, by Section 40

N.K. Leasing and Construction (P) Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2001)79ITD658(Hyd.)

to interest-tax." As per the statement of facts, assessee was engaged in the business of leasing, hire purchase finance and real estate. During the year, the appellant-company earned "hire charges" amounting to Rs. 11,59,216, which according to … These three appeals preferred by the assessee under Interest Tax Act, 1974 are directed against the order of the Commissioner (Appeals) IV, Hyderabad dated 19-1-2000 and pertain to assessment years … appeals emanate from the assessment order passed by the assessing officer under section 8(3) of the Interest Tax Act."1. The learned Commissioner (Appeals) IV erred … be exigible to tax. He heavily relied upon Circular No. 760 dated 13-1-1998 reported in 229 ITR 42 (St) to emphasise that even Board has

Life Insurance Corporation of India Vs. Joint Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)74TTJ(Mumbai)624

interest on loans and advances under section 2(7) of the Interest Tax Act, 1974 (as amended by the Finance Act, 1994).4. Assessing officer in the assessment for assessment year 1992-93, referred to the definitions of debentures and bonds … is observed, does not violate the elements of loan because unsecured loan can also be transferred under section 130 of the Transfer of Property Act, 1882.14. Para 8 of the Commissioner (Appeals)'s order speaks about Government securities.

Discount and Finance House of India Ltd. Vs. S.K. Bhardwaj, Cit and or ...

Court : Mumbai

Subject : Direct Taxation

Acts : Interest-Tax Act, 1974 - Sections 2, 2(5B), 2(7), 4, 8(2), 20 and 26C; ;Companies Act - Sections 370 and 372; Banking Regulation Act, 1949 - Sections 29; Income Tax Act, 1961 - Sections 11(5) and 13(1); Finance (No. 2) Act, 1991

Reported in : 2003(3)ALLMR621; 2003(3)BomCR283; (2003)180CTR(Bom)278; [2003]259ITR295(Bom); 2003(2)MhLj772

Act. He contended that when a credit institution subscribes to Dated Government Securities, it does not intend to finance the borrower. It intends to acquire an asset in which it can trade. The petitioner cannot trade in … determination is : Whether interest on debentures, bonds and securities, is taxable under Section 5 of the Interest-tax Act, 1974 ?Facts :2. The petitioner is a company incorporated under the Companies Act, 1956. It was promoted by the … Schedule III of the Banking Regulation Act, 1949, as also under Section 13(1)(d) and Section 11(5) of the Income-tax Act. Similarly, the definition of the

Travancore Electro-chemical Industries Ltd. Vs. Commissioner of Income ...

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 37, 80J, 214 and 246; Surtax payable under Companies (Profits) Surtax Act, 1964; Finance Act, 1974 - Sections 16

Reported in : [1995]214ITR195(Ker)

facts and in the circumstances of the case, and also on an interpretation of Section 16(c) of the Finance Act, 1974, is the assessee entitled to development rebate on the eight items listed in paragraph 2 of the order … 80 and 81 of 1972, a case which arose in relation to the liability for interest under Section 139(8) and Section 215 of the Act. The question of appealability in relation to the liability for interest under