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Combatta Aviation Ltd. Vs. Union of India (Uoi)

Court : Delhi

Subject : Civil

Acts : Finance Act, 1979 - Sections 28(3), 35(1), 35(2), 38(3) and 38(5); FTT Rules, 1979 - Rules 4, 9 and 10A

Reported in : 2000(68)ECC52; 2000LC390(Delhi); 2000(115)ELT622(Del)

in the Finance Act and FTT Rules. The penalty imposed on the applicant is justified. Impugned order upheld. Finance Act, 1979: Section 38(3); FTT Rules, 1979: Rule 10A.Revision Application rejected. - LABOUR & SERVICES Disability Pension: [Vikramajit Sen, Sanjiv Khanna … amended) for delayed payment of FTT amount of Rs. 14,21,250/- collected during the month of November, 1997. Section 28(3) of the Finance Act, 1979 is as under :-'Section 38(3)Every carrier or other person who fails to pay

South Indian Bank Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1985; Income Tax Act, 1961 - Sections 36, 36(1) and 36(2)

Reported in : (2003)183CTR(Ker)21; [2003]262ITR579(Ker)

bad and doubtful debts account. Clause (viia) which was inserted with effect from April 1, 1980, by the Finance Act, 1979, provided for a deduction in respect of any provision for bad and doubtful debts made by a scheduled … shall be allowed in respect of the matters dealt with therein, in computing the income referred to in Section 28-- ...(vii) subject to the provisions of Sub-section (2), the amount of any debt, or part thereof, which is

South Indian Bank Ltd. Vs. Cit

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]130TAXMAN749(Ker)

provisions for bad and doubtful debts account. Clause (viia) which was inserted with effect from 1-4-1980 by the Finance Act, 1979 provided for a deduction in respect of any provision for bad and doubtful debts made by a Scheduled … shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28** ** **(vii) subject to the provisions of sub-section (2), the amount of any debt, or part thereof which

Dhanalakshmi Bank Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 36(1)

Reported in : 2003(3)KLT177

provisions for bad and doubtful debts account. Clause (viia) which was inserted with effect from 1.4.1980 by the Finance Act, 1979 provided for a deduction in respect of any provision for bad and doubtful debts made by a Scheduled … shall be allowed in respect of the matters dealt with therein, in computing the income referred to in Section 28- (vii) subject to the provisions of Sub-section (2), the amount of any debt, or part thereof, which is

Sterling Foods Vs. Commissioner of Income-tax

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 5, 28, 66 and 80HH

Reported in : (1991)95CTR(Kar)36; [1991]190ITR275(KAR); [1991]190ITR275(Karn)

year but for the fact that section 28 of the Income-tax Act, 1961, has been amended by the Finance Act of 1990 with effect from April 1, 1962, by the insertion of clause (iiia) and clause (iiib) with … purpose of computing the relief under section 80HH of the Income-tax Act, 1961 ?'2. In the assessment year 1979-80, Messrs. Sterling Foods, Mangalore, received a sum of Rs. 3,09,800 by way of sale of import licences and

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 … for modes of recovery of debts either by attachment and sale or arrest or appointment of a receiver, Section 28 provides for modes of recovery in addition to the ones specified in Section 25. It is held that

Singapore Airlines Ltd. Vs. Union of India (Uoi) and anr.

Court : Delhi

Subject : Customs

Acts : Customs Act, 1962 - Sections 129DD; Finance Act, 1979 - Sections 35(2), 35A(1) and 38(3); Finance Act, 1997 - Sections 38; Foreign Travel Tax Rules, 1979 - Rules 4, 9 and 10A

Reported in : 2004(73)DRJ168; 2004(94)ECC332; 2004(175)ELT89(Del)

imposing a penalty of Rs.2,07,840/- under Section 35A(1) {clarified in the impugned order as Section 38(3)} of the Finance Act, 1979 (as amended){for short the Act} read with Rule 4 of the Foreign Travel Tax Rules, 1979 (as amended), … August 1997 was misplaced and was traced out on the next date but due to banks' strike on 28 and 29 August 1997, it could be deposited only on 30 August 1997, for which the bank issued

Gadore Tools Pvt. Ltd., New Delhi Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 35-B and 256; Finance Act, 1990

Reported in : (2000)161CTR(Del)472

favor of the Revenue in view of the amendments incorporated in the Income Tax Act, 1961 by the Finance Act, 1990. Finance Act, 1990 incorporated clause (iiib) to Section 28 of the Income Tax Act, 1961 with effect

C.M. Kothari Charitable Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1989)31ITD46(Mad.)

30th day of November, 1983 and, therefore, as per Section 13(1)(d) of the Act as substituted by the Finance Act, 1983 with effect from 1-4-1983, the assessee-Trust forfeited the exemption under Section 11, which was otherwise admissible to … 13(1)(d) came into force with effect from 1-4-1977, it was applicable only in relation to the assessment year 1979-80 and subsequent years. This was made clear by the last sentence of paragraph 7.1 of circular No. 204 … has been directed against the appellate order dated 22-6-1987 in ITA No. 28/86-87 of the Commissioner of Income-tax (Appeals)-I, Madras.2. As could be seen from

Commissioner of Income-tax Vs. Vijay Ship Breaking Corporation

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(28A), 4, 4(1), 4(2), 5(2), 9(1), 40, 80HH, 80HH(2), 80I, 80I(2), 90, 195 and 195(1); Interest Act, 1978 - Sections 2; Finance Act, 1976

Reported in : [2003]261ITR113(Guj)

prior to the insertion of the provisions of Clause (v) in Section 9(1) of the Act by the Finance Act, 1976, with effect from June 1, 1976. (t) The decision of the Supreme Court in Central Bank of … 45(1)(b) of the Indian Sale of Goods Act (similar to Section 38(1)(b) of the U.K. Sale of Goods Act, 1979), and be entitled to claim the price from the buyer under Section 55 of the Indian Act (similar … in K.S. Krishna Rao v. CIT : [1990]181ITR408(SC) which was rendered in the context of the provisions of Section 28 of the Land Acquisition Act, in which the court followed its earlier decision in Rama Bai v. CIT