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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 … Tribunal, Nagpur whereby it is held that the provisions of Limitation Act are applicable to an appeal under Section 30 of the Recovery of Debts Due to Banks and financial Institutions Act ( Briefly referred as RDDBFI Act

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), … 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 the receipted challis only on 1 September 1997. In nut-shell, the

Britannia Industries Ltd. Vs. Commissioner of Income Tax, West Bengal, ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30 to 36, 37, 37(1), 37(3), 37(4), 37(5) and 80B; Finance Act, 1964 - Sections 37(3); Finance Act, 1970; Finance Act, 1997; Finance Act, 1983 - Sections 37

Reported in : AIR2005SC4333; (2005)198CTR(SC)313; [2005]278ITR546(SC); JT2005(12)SC98; 2005(8)SCALE148; (2006)1SCC646

37 by the Finance Act in 1983 with effect from 1st April 1979 and was subsequently omitted by the Finance Act 1997 with effect from … book in 1964 and underwent several other changes thereafter. Sub-section (3) of Section 37 was inserted by the Finance Act 1964 with effect from 1st April, 1964 and was, thereafter, omitted by the Finance Act 1997 with effect … premises paid in respect of insurance against risk of damage destruction of the premises.4. In the explanation to Section 30, it has been indicated that the amounts paid on account of the items indicated above shall not include

Dhanvantari Botanicals Pvt. Ltd. Vs. State of Karnataka and ors.

Court : Karnataka

Subject : Sales Tax

Acts : Bihar Finance Act - Sections 7 and 7(3); Karnataka Tax on Entry of Goods Act, 1979 - Sections 11A

Reported in : (2007)10VST33(Karn)

the issuance of notification by the State Government in exercise of power under Section 7 of the Bihar Finance Act, it is true that issuance of such notifications entitles the industrial units to avail of the incentives and … is in exercise of the powers conferred under Section 11-A of the Karnataka Tax on Entry of Goods Act 1979. The same entitles the industrial units to avail of the incentives and benefits declared by the State Government … the 100% Export Oriented Unit, has sought for quashing the Notification dated 30.11.2001 bearing No.FD 161 CSL 2001 (II) vide Annexure-B' to the writ petition

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 … India, Department of Revenue, New Delhi on 31st December, 2003, which came to be dismissed vide order dated 30th November, 2004.15. Being aggrieved by the aforesaid, petitioner has invoked writ jurisdiction of this Court.Facts of W.P.No.2552/2006 :16.

Shantaben Govindlal Patel Vs. Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Reported in : (2001)165CTR(Guj)722

of the previous year in which the transfer took place. Section 54F was introduced in the Act by Finance Act, 2/1977 with effect from 1-4-1978, for the purpose of exempting capital gain from tax, if sale proceeds of … assessment year 1974-75, even though in the present case the enhanced compensation was admittedly received on 22-11-1978, and 30-1-1979, when the provisions of both the sections had already been brought on statute book ?'2. Under section 45

Schradar-scovtll Duncan Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)16ITD18(Mum.)

has invited our attention to the background in which Sub-section (5) was introduced in Section 37 by the Finance Act, 1983, with effect from 1-4-1979. It is pointed out that the Madras High Court in the case of … a considerable amount out of the total expenditure pertained to expenditure on current repairs which is allowed Under Section 30 of the Act and, therefore, Section 37(4) which overrides the provisions of Section 37(1) and 37(3) only will

Shree Jagannath Packers and ors. Vs. State of Orissa and ors.

Court : Orissa

Subject : CivilSales Tax

Acts : Orissa Sales Tax Act, 1947 - Sections 6, 7 and 12; Central Sales Tax Act, 1956 - Sections 8(5) and 13(3); State Financial Corporation Act, 1951 - Sections 29; Orissa General Clauses Act, 1937 - Sections 22; Punjab General Clauses Act, 1898 - Sections 19; Bihar Finance Act - Sections 7; Customs Act, 1962 - Sections 25 and 25(1); Electricity Supply Act - Sections 49; Rajasthan Sales Tax Act, 1954 - Sections 4(2); East Punjab Public Safety Act - Sections 20 and 36(1); General Clauses Act, 1897 - Sections 21; Central Sales Tax (Deferment of Payment of Taxes) Orissa Rules, 1990; Constitution of India - Articles 14, 154(1), 154(2), 161, 162 and 166(3)

Reported in : [2005]141STC26(Orissa)

that a notification issued by the State Government in exercise of powers under Section 7 of the Bihar Finance Act to the extent it is repugnant to the Industrial Policy Resolution of the Government of Bihar is bad. … 718, Motilal Padampat Sugar Mills Co. Ltd. v. State of Uttar Pradesh [1979] 44 STC 42 ; AIR 1979 SC 621, Union of India v. Godfrey Philips India Ltd. AIR 1986 SC 806, Pournami Oil Mills v. … benefits of sales tax exemption from September 11, 1993 but on July 30, 1999 Notifications Nos. 622 of 1999, 623 of 1999, 624 of 1999

Commissioner of Income-tax Vs. Export India Corporation (P.) Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 269C, 269D, 269F, 269H and 269UD; Finance Act, 1986

Reported in : (1996)133CTR(P& H)224; [1996]219ITR461(P& H)

immovable property after September 30, 1986, and a new Chapter XX-C was introduced in the Act by the Finance Act, 1986, with effect from October 1, 1986. Section 266RR provides that Chapter XX-A will not apply in relation … appeal filed by the transferee against the acquisition order passed by the Competent Authority, Rohtak, on March 51, 1979, has been set aside.2. In pursuance of an agreement of sale dated March 25, 1975, Raja Mechanical Company

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 … alia, they were effected by way of gift. There then follows a sub-heading 'Computation of gains', followed by section 30 which provides :'The following provisions of this Chapter, and Schedule 5 to this Act, shall have effect for