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J.K. Cotton Spinning and Weaving Mills and Another Vs. Union of India ...

Court : Delhi

Subject : Excise

Acts : Central Excise Rules, 1944 - Rules 9, 9(2), 10, 11, 47, 49, 49A, 53, 54,,73A, 173K and 173Q; Central Excise Act, 1944 - Sections 3, 4, 6, 8, 9, 11, 11A, 11B, 37 and 49; Finance Act, 1982 - Sections 51

Reported in : 1983LC117D(Delhi); 1983(12)ELT239(Del); ILR1983Delhi518

may be, immediately before such consumption or utilisation.' 8. The result of enacting of Section 51 of the Finance Act, 1982 was that the amended rules 9 and 49 set out above, are deemed to have come into force … collection of duty livable on cellulosic spun yarn and cotton yarn along with duty on cotton fabrics. Rule 53 deals with how daily stock account is to be kept. This rule says that the same will be

H.F. Craig Harvey Vs. Third Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1988)25ITD1(Mad.)

from the Twelfth Schedule of the Income-tax Act, 1961, which was introduced with effect from 1-4-1983, by the Finance Act, 1982. Under this Schedule, a percentage deduction is given under Section 80T(b) of the Act, from the capital gain … the transfer of a capital asset effected in the previous year shall, save as otherwise provided in Sections 53, 54, 54B, 54D, 54E and 54F, be chargeable to income-tax under the head "Capital gains" and shall be

M.A.C. Khaleeli Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Land Acquisition

Reported in : (1994)48ITD191(Mad.)

the deduction under Section 54F if the conditions therein are fulfilled.5. That section had been inserted by the Finance Act, 1982 with a view to encouraging house construction. It provides that if the assessee has purchased or constructed within … these provisions expires. In such cases, the threshold deduction often thousand rupees as well as the deduction under Section 53 will not be admissible. Further, the tax-payer shall be entitled to withdraw such amount in accordance with this

Commissioner of Income-tax, Karnataka-ii Vs. C. Chandrashekar

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45, 53, 54 and 54(1)

Reported in : (1984)38CTR(Kar)246; [1984]145ITR429(KAR); [1984]145ITR429(Karn); [1984]16TAXMAN297(Kar)

firm.' 14. After the decision of the Madhya Pradesh High Court, s. 54 has been amended by the Finance Act, 1982, with effect from April 1, 1983, and the section now begins as : 'Where, in the case of … individual, the capital gain arises from the transfer of a 'long-term capital asset' to which the provisions of section 53 are not applicable, being buildings or lands appurtenant thereto, and being a residential house, the income of which

J.K. Cotton Spinning and Weaving Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Excise

Reported in : (1989)(23)LC385Tri(Delhi)

cause of action. The question that is really involved is whether in view of Section 51 of the Finance Act, 1982. Section 11A should be ignored or not. In our view Section 51 does not, in any manner affect the … collecting of excise duty, Hence the ratio of the decision in Gokak Patel Volkar Ltd. 1987 (11) ECR 53 is not applicable to the present case.97. The other contention of the learned Counsel for the appellants that

Commissioner of Income-tax Vs. D. Rani

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45, 53, 54, 54B, 54D, 54E, 256 and 263

Reported in : [1996]218ITR724(AP)

effect from April 1, 1974, and it remained in the statute book till it was amended by the Finance Act, 1982, with effect from April 1, 1983. As the question relates to the assessment year 1982-83, we shall refer … : 'Where a capital gain arises from the transfer of a capital asset to which the provisions of section 53 are not applicable, being buildings or lands appurtenant thereto the income of which is chargeable under the head

Commissioner of Income-tax Vs. Indulal C. Kamdar

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 45, 53 and 54

Reported in : (1994)116CTR(Bom)523; [1995]214ITR143(Bom)

interpretation of section 54 of the Income-tax Act, 1961, as it stood prior to its amendment by the Finance Act, 1982. There is a sharp difference of opinion between the view taken by the High Courts of Madras and … - Where a capital gain arises from the transfer of a capital asset to which the provisions of section 53 are not applicable, being buildings or lands appurtenant thereto the income of which is chargeable under the head

Hindustan Tools and Forgings Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Subject : Excise

Reported in : (1990)(26)ECC205

+ Rs. 1,11,678.20 SED) as per Notification No. 209/83, dated 1-8-1983 as amended and Section 53 of the Finance Act, 1984. Further, a quantity of 18.075 M.T. of goods lying in the forging section of the factory for … of checking of the stock books of raw materials of the party for the accounting years (1980-81, 1981-82, 1982-83 and 1983-84 upto 27-5-1984 (accounting year beginning from Ist July and ending on 30th June next year), it

Pramod Kumar Gupta Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1991)39ITD1a(Delhi)

Act was enlarged by insertion of Sub-clauses (v) & (vi) and Explanation, of the said section by the Finance Act, 1987 w.e.f. 1-4-1988. The thrust of the argument was that if a transaction involving the allowing of possession … property to be taken or retained in part performance of a contract of the nature referred to in Section 53 A of the Transfer of Property Act was to be included in the definition of transfer for the … it was submitted that the flats were constructed only in the year 1982-83 and that rental income was enjoyed by the Company only thereafter and

Krishnagopal Nagpal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2004)82TTJ(Pune.)481

by the assessee, in the new property purchased or constructed by him. This condition was removed by the Finance Act, 1982 applicable from asst.yr. 1983-84. The circular of the Board relied upon by the learned counsel relates to the … relating to exemption in respect of capital gains arising from transfer of house properties contained in IT Act. Section 53 as it exited upto 1993-94 provides that long-term capital gain arising from the transfer of a residential house