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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 … the Finance Act, 1979.(2) Save as otherwise provided in this Act, sections 2 to 27 and sections 44, 45 and 46 shall be deemed to have come into force on the 1st day of April, 1979.34. Definitions.

Collector of Central Excise Vs. Mihir Textiles Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Excise

Reported in : (1990)(30)LC491Tri(Mum.)bai

Rules 9 and 49 and retrospective validity of the said amendment brought out by Sec. 51 of the Finance Act, are valid. However, the Supreme Court did not accept the contention of the Learned Attorney General that the … of the judgments cited by the Learned Senior Counsel in the case of Jay Engineering Works reported in 1979 (4) ELT J 307, in the case of Hydraulics Ltd. reported in 1983 (12) ELT 533 and the … 51(2)(d) of the Finance Act, 1982, were so issued under the aforesaid Section of the Finance Act and if so, they are not valid notices … U.O.I. in 1978 (2) ELT 355, he particularly took us through paragraph 45 of the aforesaid Supreme Court judgement. He also indicated that the Tribunal

Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 2(24), 17, 28, 41, 44, 45, 59, 80HHC, 139(1), 139(3), 143(1A), 143, 144, 147, 160(1), 256(2), 271, 271(1) and 280D; ;Taxation Laws (Amendment) Act, 1975; ;Finance Act, 2002 - Sections 271(1); ;Finance Act, 1993 - Sections 143(1A); ;Constitution of India - Article 141

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

have been concealed or inaccurate particulars have been furnished.'Section 271(1)(c) of the Act has been further amended by Finance Act, 2002, by which Clause (iii) and Expln. 4 has been modified. After the amendment section reads as follows … of any benefit or perquisite taxable under Clause (iv) of Section 28;(vi) any capital gains chargeable under Section 45;(vii) the profits and gains of any business of insurance carried on by a mutual insurance company or by

Deputy Commissioner of Income Tax Vs. G.K. Enterprises

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (2003)79TTJ(Mad.)82

Section 47(ii) of the IT Act, 1961. Of course, the provisions of Section 47(ii) were omitted by the Finance Act, 1987, w.e.f. 1st April, 1988. Considering the facts on identical issue, the Gujarat High Court opined that in … It purchased a property of about 14 grounds with a building therein, in Court's auction in the year 1979. Further construction was undertaken during the period 30th June, 1981 to 30th June, 1984. The value of the … the aforesaid letter filed by the assessee it was stated that Section 45(4) was inapplicable as the assessee-firm was not dissolved but it was reconstituted

Jamnalal Sons Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1989)29ITD164(Mum.)

provisions of Sub-sections (3) to (5) of Section 45 which were introduced with effect from 1-4-1988 by the Finance Act, 1987. These sub-sections only clarify the position in law as the Legislature always wanted it to be. We … companies and Rs. 2,00,000 in the form of cash to be brought in on or before 30th June, 1979 more particularly described in the Schedule 'A'.3. It was argued before the IAC that the appellant-company had introduced

Burlingtons' Exports Vs. Assistant Commissioner Of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1993)45ITD424(Mum.)

taxed 'capital gains' arising after the 31st March, 1946 and the levy was virtually abolished by the Indian Finance Act, 1949, which confined the operation of the section to'capital gains' arising before the lstApril, 1948. The Finance (No. … to the respective occupant partners. The Assessing Officer asked the assessee to show cause why the provisions of Section 45(4) of the Income-tax Act, 1961, be not applied. The assessee submitted that this section applies only when there

Suvardhan Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1998)67ITD104(Bang.)

transferring, or enabling the enjoyment of, any immovable property." Clauses (v) & (vi) above were added by the Finance Act, 1984, w.e.f.1-4-1988. The learned counsel for the assessee also placed reliance on the decision of the Hon'ble Supreme … on 1-4-1992 and that the assets and liabilities were taken over by the lady. A proposal to apply section 45(4) was sent and, in response, a return of income, for the assessment year under consideration, came to be

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

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1970 - Sections 2(6); Income Tax Act, 1961 - Sections 80E, 147 and 256(1)

Reported in : (1989)77CTR(Mad)18; [1989]179ITR170(Mad)

the assessee-company was not an industrial company within the meaning of clause 2(6)(c) of Chapter II of the Finance Act, 1970 ?' 2. The assessee is a private limited company and the assessment year we are concerned with … Ratnam, J.1. At the instance of the assessee under section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), the following question has been referred … loans advanced by the assessee to the tannery, a sum of Rs. 45,371 should be attributed as relating to the tannery unit in the place

Zenith Bearing Enterprises Vs. Collector of Customs (Acc)

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Education

Reported in : (1995)(75)ELT801Tri(Mum.)bai

the context of the provisions of section 23 of the Customs Act prior to the amendments by the Finance Act, 1983. He, however, sought to advance his argument that notwithstanding the amendments carried out in Section 23, the … Delhi High Court in the case of Sialkot Industrial Corporation reported in 1979 (4) E.L.T. (J 329) was in the context of the provisions of … 23, the appellants are entitled to get relief on the following grounds :- As per the provisions of Section 45 of the Customs Act, save as otherwise provided in any law for the time being in force, all

Asstt. Cit Vs. Unity Care and Health Services (and

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2006)103ITD53(Bang.)

ITR 594. It is only to overcome such a situation, sub-section (4) of section 45 was inserted by Finance Act, 1987, with effect from 1-4-1988.The insertion of section 47(dii) has not changed the situation. Section 47(xiii) merely excludes