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Mitsui and Company Ltd. Vs. Deputy Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Reported in : (1999)65TTJ(Del)1

Explanationn in section 9(ii) of the Income Tax Act, 1961, with effect from 1st April, 1979 by the Finance Act, 1983, it is clarified and declared that the income which falls under the head 'salaries' payable for services rendered … tax or any part of the tax as required to be deducted by or under the provisions of Chapter XVII-B, the liability to penalty arises unless such failure is proved to be for a reasonable cause as … of Rs. 6,91,92,288 on the salary of its employees and interest Rs. 3,25,72,356 thereon for delayed payment as per details given below :Financial yearAmount of

income-tax Officer Vs. R. Sivaraman

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1989)31ITD338(Mad.)

that such a consideration is necessary, the definition of the words 'industrial undertaking' underwent a change under the Finance Act, 1983 which came into force from 1-4-1983 and it is clearly applicable to the facts of this case. The … activities included in its total income or the previous year (as computed before making any . deduction under Chapter VI-A of the Income-tax Act) is not less than fifty-one per cent of such total income; (ii) 'project'

Saurashtra Education Foundation Vs. Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Acts : Income tax Act, 1961 - Sections 2(15), 10(22) and 11(1); Finance Act, 2002; ;Finance Act, 1983

Reported in : (2004)190CTR(Guj)295; [2005]273ITR139(Guj)

anyactivity for profit. The words, 'not involving the carrying on of anyactivity for profit' have been omitted by Finance Act,1983 w.e.f. 1.4.1984. 7. A perusal of the aforesaid statutory provisionswould show that while Section 11 provides for exemptionof … [1994]208ITR608(Patna) .6. Before considering the rival submissions, it isnecessary to refer to the relevant statutory provisionsin this behalf.Chapter III of the Income-tax Act, 1961 specifies'Incomes which do not form part of total income'.Section 10 commences with the

Gujarat Industrial Development Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)102TTJ(Ahd.)928

of general public utility is also charitable purpose. The above definition of "charitable purpose" is modified by the Finance Act, 1983 w.e.f. 1st April, 1984. Before the above amendment, the purpose, i.e., advancement of any other object of general … purposes of this Act.He further referred to the functions of the assessee as prescribed in Section 13 of Chapter III: (i) generally to promote and assist in the rapid and orderly establishment; growth and development of industries in

Aryan Educational Society Vs. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : MRTP

Reported in : (2005)93ITD546(Delhi)

the carrying on of any activity for profit' have been omitted from this definition by the legislature by Finance Act, 1983 w.e.f.1.4.83. Therefore, after such omission, the element of profit cannot be excluded from the definition of 'charitable purpose' … Act, we are not inclined to accept the reasonings given by the CIT. There is no provision in Chapter III of the Act to the effect that in order to claim exemption, the income of the trust/institution imparting

Kanta Mehta Vs. Union of India and Others

Court : Delhi

Subject : Company

Acts : Reserve Bank of India Act, 1934 - Sections 45-I, 45J, 45K, 45L, 45M, 45S, 45S(1), 45S(2), 58A(1), 58A(7), 58A(8), 58B and 58B(5A); Banking Laws (Amendment) Act, 1983 - Sections 10; Constitution of India - Articles 14, 19, 19(1) and 246; Kerala Money Lenders Act; Banking Regulation Act, 1949 - Sections 5 and 8; Banking Regulation (Amendment) Act, 1956 - Sections 12; Banking Regulation (Amendment) Act, 1959 - Sections 17 and 18; Banking Regulation (Amendment) Act, 1968 - Sections 10A and 10A(5); Banking Regulation (Amendment) Act, 1984 - Sections 18, 21, 22(3), 24, 30 and 227; Banking Laws (Miscellaneous Provisions) Act, 1965; Companies Act, 1956 - Sections 58A; Companies (Acceptance of Deposits) Rules, 1975 - Rules 2 and 3; Companies (Acceptance of Deposits) (Amend

Reported in : [1987]62CompCas769(Delhi)

support the necessity for the impugned legislation. The suggestion was made that because of the failure of Sanchaita Finance Firm, resulting in ruination of a large number of depositors as reported in State of West Bengal v. … with section 58B (5A) of the Reserve Bank of India Act, 1934, introduced by the Banking Laws (Amendment) Act, 1983 (Act 1 of 1984) (to be called 'the impugned legislation'). They would be disposed of by this common … C.J.1. This and the connected writ petitions challenge the constitutional validity of Chapter II-C read with section 58B (5A) of the Reserve Bank of India … system and to regulate the deposit acceptance activities of such institutions, Chapter III-B was inserted in the Reserve Bank of India Act by the Banking

Bhavesh D. Parish and Others Vs. Union of India and Another

Court : Supreme Court of India

Subject : Banking

Acts : Constitution of India - Articles 14 and 19(1); Reserve Bank of India Act, 1934; Banking Laws (Amendment) Act, 1983 - Sections 10; Prize Chits and Money Circulation Schemes (Banning) Act, 1978; Reserve Bank of India (Amendment) Act, 1997 - Sections 9 and 45S

Reported in : [2000]101CompCas459(SC); 2000(3)CTC178; JT2000(6)SC604; 2000(4)SCALE616; (2000)5SCC471; [2000]Supp1SCR291; 2001(1)LC54(SC); (2000)3UPLBEC2140

order to place some restrictions on the acceptance of deposits by unincorporated bodies, by the Banking Laws (Amendment) Act, 1983 (Act 1 of 1984), Chapter III-C and Section 58-B(5A) were inserted into the Act. The relevant portion of … customers like agriculturists, such as cotton farmers, tobacco farmers, vegetable producers etc. who had a seasonal need for finance and a periodic surplus of investible funds. The flexibility of deposit and withdrawal of the funds available to

Appraiser, Madras Customs Vs. Tamil Nadu Newsprint Papers Ltd.

Court : Chennai

Subject : Customs

Acts : Customs Tariff Act, 1975; ;Central Excise Act; Central Excise Rules, 1944 - Rule 8(1); Customs Act, 1962 - Sections 25, 25(1) and 157

Reported in : 1988(36)ELT272(Mad)

year to the 31st March of the next year. The Finance Act relevant in this case is the Finance Act, 1983. Section 45 thereof provided for levy and collection of auxiliary duty of customs at an amount equal to … do, hereby exempts the goods specified in column (3) of the Table annexed hereto and falling within the Chapter of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), specified in the corresponding entry … to duty under the Heading No. 84.66 of the Customs Tariff Act. 3. Section 2 of the Customs Tariff Act, provides for levy of duties

Tamil Nadu Newsprint and Papers Limited Vs. the Appraiser, Appraising ...

Court : Chennai

Subject : Customs

Reported in : 1988(14)LC548(Madras)

25 of the Customs Act, 1962 (52 of 1962), read with Sub-clause (4) of clause 45 of the Finance Bill, 1983, which clause has by virtue of the declaration made in the Bill under the Provisional collection … do, hereby exempts the goods specified in column (3) of the Table annexed hereto and falling within the Chapter of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) specified in the Corresponding entry … the First Schedule to Descriptionthe Customs Tariff Act, 1975. of goods--------------------------------------------------------------------------------1. 2. 3.--------------------------------------------------------------------------------1 ... ...2 ... ...3 ... ...4 ... ...5 ... ...6 ... ...7

The Appraiser, Appraising Department (Group Ii), Madras Customs, Custo ...

Court : Chennai

Subject : Customs

Reported in : 1988(17)ECC119

year to the 31st March of the next year. The Finance Act relevant in this case is the Finance Act, 1983. Section 45 thereof provided for levy and collection of auxiliary duty of customs at an amount equal to … do, hereby exempts the goods specified in column (3) of the table annexed hereto and falling within the Chapter of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), specified in the corresponding entry … Counsel for the respondent places reliance on Commissioner of Income-tax, Bombay City III v. Belapur Sugar and Allied Industries Ltd. : [1983]141ITR404(Bom) , in support