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Commissioner of Income Tax, Ludhiana, Etc.Etc. Vs. Shri Om Prakash, Et ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 64(1) and 263; Indian Income-tax Act, 1922 - Sections 16(3) and 35; Constitution of India - Articles 14, 19(1) and 226; Gift-tax Act - Sections 4; Wealth-tax Act - Sections 4; Finance Act, 1979 - Sections 64; Taxation Laws (Amendment) Act, 1975; Finance Act, 1992; Finance (No.2) Act, 1971;

Reported in : 1996IAD(SC)205; AIR1996SC593; (1996)130CTR(SC)82; [1996]217ITR785(SC); JT1995(8)SC245; 1995(6)SCALE487; 1995Supp(4)SCC737; [1995]Supp5SCR346

Act inserted by the very same Finance Act. Similarly, Sub-section (2) was introduced in Section 64 by the Finance Act, 1979 with effect from April 1, 1980. Then Explanation 3 was added by the Taxation Laws (Amendment) Act, 1975 … of Clauses (i) and (ii) of Sub-section (1) of Section 64 (as they stood prior to 1st April, 1976) of the Income Tax Act, 1961 falls for resolution in this batch of appeals. Prior to April 1,

Andhra Pradesh State Financial Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (1986)18ITD515(Hyd.)

(No. 2) Act 1967, Finance Act, 1970, Finance (No. 2) Act 1971, Finance Act, 1974, Finance Act, 1977, Finance Act, 1979, Finance Act, 1981 and lastly Finance Act, 1985 by which the crucial words 'this Clause and' were inserted … for the sake of convenience.2. The first point in dispute is as regards the quantum of deduction under Section 36(1)(viii) of the Income-tax Act, 1961 ('the Act')- The assessee, Andhra Pradesh State Financial Corpn., is approved by … regards the quantum of deduction under Section 36(1)(viii) of the Income-tax Act, 1961 ('the Act')- The assessee, Andhra Pradesh State Financial Corpn., is approved by

Madhukar Govindrao Thaware and ors. Vs. Central Bank of India

Court : Mumbai Nagpur

Subject : Limitation

Acts : Limitation Act - Section 5, 29 (2), 8, 3; Recovery of Debts Due to Banks and financial Institutions Act (RDDBFI) 1993- Section 30, 2(b) , 19, 20; Income Tax Act, 1961 - Rule 11, 15; Central Excise Act. 1944 - Section 35H(1); West Bengal Land Reforms Act, 1955 - Section 8 ; Finance Act, 1979 - Section 38 (1); Companies Act, 1956 - section 529A, 20 (3), 25 to 28, 30; Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act,; Non-Performing Assets Act (NPA) - Section 17(1); Code of Civil Procedure (CPC) - Order 21; Income Tax Act, 1961 - Section 260A; Excise Act - Section 35G; The Income-tax (Certificate Proceedings) Rules, 1962 - Rule 55A, 86 ; Debt Recovery Tribunal (Procedure) Rules - Rule 2

with non- payment. Non-payment is nothing but failure to pay when due. As per the provisions of the Finance Act, 1979 amount of FTT collected becomes due within fifteen days from the date of collection thereof. Failure to pay … 30, can be considered even though the "application" defined by the Act defines it as an Application under Section 19 i.e. original proceedings (and not an appeal under Section 30 of the RDDBFI Act). 3. It is contended

Smith (inspector of Taxes) Vs. Schofield.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1994]209ITR572(Cal)

to capital gains tax for the year 1986-87 on the basis that the indexation allowance introduced by the Finance Act, 1982 was to be deducted from the whole of the amount of the gain accruing to the taxpayer … be computed by applying the time-apportionment provisions of paragraph 11 of Schedule 5 to the Capital Gains Tax Act, 1979, to the gain accruing between her acquisition and disposal of the assets and the allowance deducted from that … the Finance Act 1965 with effect from 6 April of that year. Section 19(1) of the Act of 1965, now re-enacted as section 1(1) of

N. Rahmath and ors. Vs. Union of India and ors.

Court : Chennai

Subject : Excise

Acts : Central Excise Rules, 1944 - Rule 8; Central Excise Act, 1944 - Sections 3

Reported in : 1988(38)ELT425(Mad)

these cases are manufacturers of matches and they have challenged the constitutional validity of Section 52 of the Finance Act of 1982 and the conditions imposed in Notification No. 22/82[GSR 77(E)/82] dated 23rd February, 1982, on the ground … challenged the constitutional validity of Section 52 of the Finance Act of 1982 and the conditions imposed in Notification No. 22/82[GSR 77(E)/82] dated 23rd February, … can be a legitimate classification on the basis of the past production, the adoption of the production during 1979-80 as the base year for determining eligibility for availing of the lower rates of duty in the year

M/S.Malaysian Airlines. M/S.Saudi Arabian Airlines. and ors Vs. the Un ...

Court : Mumbai

Subject : Service Tax

Acts : Constitution Of India - Article 226

under Article 226 of the Constitution of India are challenging imposition of penalty under section 38(3) of the Finance Act, 1979 ("Finance Act" or "Act" for short) for delay in payment of Foreign Travel Tax ("FTT" for short) to … 226 of the Constitution of India are challenging imposition of penalty under section 38(3) of the Finance Act, 1979 ("Finance Act" or "Act" for short) for delay in payment of Foreign Travel Tax ("FTT" for short) to

State Bank of India Vs. Hegde and Golay Limited

Court : Karnataka

Subject : CompanyCivil

Acts : Company Act, 1956 - Sections 433, 439(1), 439(2), 439(9) and 529; Code of Civil Procedure (CPC) , 1908 - Order 2, Rule 2

Reported in : ILR1987KAR2364

Rs 15 lakhs under the cash credit account Nos. 1, 2 and 3. Since KSFC had agreed to finance the project requirement including 100% of the foreign exchange content of the ancillary units' capital goods, the Bank's … very eminent officials and industrialists who visited the complex between 1975 and 1979 and on its claim as being a pioneer in India in the … they then were, held that debt shown in the balance sheet is an acknowledgment within the meaning of Section 19 of the Limitation Act and in order to be so, the Balance Sheet in which such an acknowledgment

Bharat Match Works, Vanaramurthi and ors. Vs. Union of India and ors.

Court : Chennai

Subject : Excise

Acts : Central Excise Rules, 1944 - Rule 8; Central Excise Act, 1944 - Sections 37

Reported in : 1984(16)ELT3(Mad)

these cases are manufacturers of matches and they have challenged the Constitutional validity of S. 52 of the Finance Act of 1982, and the conditions imposed in Notification No. 22/82 [GSR 77(E)/82], dated 23-2-1982, on the ground of … to set out the circumstances and the background in which the said Section 52 of the Finance Act came to be enacted giving retrospective effect … challenged the Constitutional validity of S. 52 of the Finance Act of 1982, and the conditions imposed in Notification No. 22/82 [GSR 77(E)/82], dated 23-2-1982, … can be a legitimate classification on the basis of the past production, the adoption of the production during 1979-80 as the base year for determining the eligibility for availing of the lower rates of duty in the

ifci Limited Vs. the General Secretary All India Ifc Employees Asso

Court : Delhi

Subject : Labour and Industrial

appointment on compassionate grounds under the said scheme dated 01.01.1979.3. The background facts may first be noticed. Industrial Finance Corporation of India (The Corporation for short) was a statutory corporation incorporated by the Industrial Finance Corporation Act, … arrived at in terms of Section 2(p) of the Act would bind the petitioner management by virtue of Section 19 thereof. Section 2(p) of the Act defines a settlement to mean, a settlement arrived at in the course

Commissioner of Income-tax Vs. Gujarat State Fertilizers Co. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A, 43(1), 43A and 43A(1)

Reported in : (2003)179CTR(Guj)266; [2003]259ITR526(Guj)

(No. 2) Act of 1967, with effect from April 1, 1967, whereas Section 32A was inserted by the Finance Act, 1976, with effect from April 1, 1976. Hence, the non obstante clause in Section 43A could not have … of the assets for the calendar years 1976,1977 and 1978 (relatable to the assessment years 1977-78, 1978-79 and 1979-80) increased by reason of fluctuation in the foreign exchange rate. The assessee claimed the following amounts for the … 32A (relating to fluctuation in foreign exchange rate) of the Income-tax Act, 1961 ('the Act'), requires reconsideration.2. The assessee is a public limited company manufacturing