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Voltas Limited Vs. the State of Jharkhand and ors.

Court : Jharkhand

Subject : Sales TaxLimitation

Acts : Indian Companies Act, 1913; Bihar Finance Act, 1981 - Sections 12, 13, 17(5), 18, 19(1), 21, 21(1), 24 and 58; Bihar Finance Rule, 1981 - Rule 13A; Rajasthan Sales Tax Act - Sections 5(3); Rajasthan Sales Tax Rule - Rule 29(2); 46th Amendment Constitution of India - Article 366(29A)

Reported in : [2006(3)JCR518(Jhr)]

one place to another and the sale of such air-conditioners is chargeable to sales tax under the Bihar Finance Act, 1981 under Entry No. 116 of the Schedule at the rate of 16%.6. One of the disputes in … issued by the Commissioner, Commercial Taxes, Govt. of Bihar, on 18th May, 1984, which is also applicable in the State of Jharkhand, whereby, it was … 24. Period of limitation for completion of assessment proceeding- Except a proceeding under Sub-section (5) of Section 17, Section 18 and Sub-section (1) of Section 19 no proceeding for assessment of the tax payable by a dealer under

J.M. Ramachandra and Sons Vs. Customs Excise and Gold (Control) Appell ...

Court : Delhi

Subject : Customs

Acts : Constitution of India - Article 226; Customs Act, 1962 - Sections 111, 112A, 125, 128, 129A, 129B, 129DD, 130 and 130E; Foreign Trade Development and Regulation Act, 1992 - Sections 3(3); Indian Income-tax Act, 1922 - Sections 18(3A), (3B) and (3C), 18(6), 23(4), 23(5), 23A(1), 24, 25(2), 25A(1), 26(2), 26A, 27, 28, 30(1A), 30(2), 31, 31(3), 33, 33(2A), 33(3), 44E(6), 44F(5), 46(1), 48, 49 and 49F; Finance Act, 1984 - Sections 40; Limitation Act - Sections 5 - Schedule - Article 182; Code of Civil Procedure (CPC), 1908 - Sections 109

Reported in : 95(2002)DLT217; 2002(80)ECC72; 2002(139)ELT36(Del)

the first proviso to sub-section (1), which is pending immediately before the commencement of section 40 of the Finance Act, 1984 before the Appellate Tribunal and any matter arising out of or connected with such appeal and which is … presented within thirty days of the payment of the tax deducted under sub-section (3A), (3B) or (3C) of section 18 or of receipt of the notice of demand relating to the assessment or penalty objected to or of

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the … of 1951), the Unit Trust of India Act, 1963 (52 of 1963), The Industrial Reconstruction Bank of India Act, 1984 (62 of 1984) and the Sick Industrial Companies (Special Provisions ) Act, 1985(1 of 1986).The provisions of Section … of debts due to banks and financial institutions and it contains two crucial provisions. One of them is Section 18 which ousts the jurisdiction of all Courts or other authorities (except the Supreme Court and the High Court

Commissioner of Income-tax, Faridabad Vs. Ghanshyam (Huf)

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(47), 45, 45(1), 45(5), 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G, 54H, 154, 155(7A), 155(16), 260A and 269UA; Transfer of Property Act, 1882 - Sections 53A; Finance Act, 1987; Land Acquisition Act, 1894 - Sections 4, 4(1), 6, 18, 23, 23(1), 23(1A), 23(2), 28 and 34; Finance Act, 1991; Land Acquisition (Amendment) Act, 1984 - Sections 23(1A); Income Tax Act, 1922; Finance Act, 2003 - Sections 45(5) and 155(16)

Reported in : (2009)224CTR(SC)522; [2009]315ITR1(SC); JT2009(9)SC445; 2009(9)SCALE657; (2009)8SCC412; [2009]182TAXMAN368(SC); 2009(6)LC2930(SC)

and deductions therefrom.16. The question which arises for determination is - why was Section 45(5) inserted by the Finance Act, 1987, w.e.f. 1.4.88? Under Section 45(1), profits or gains arising from the transfer of a capital asset effected … of the market value of the land. Sub-section (1A) of Section 23 was introduced by Land Acquisition (Amendment) Act, 1984. It provides that in every case the Court shall award an amount as additional compensation at the rate … applicable only in respect of the excess amount, which is determined by the Court after a reference under Section 18 of the 1894 Act. Section 28 does not apply to cases of undue delay in making award for

Wallfort Shares and Stock Brokers Vs. Income-tax Officer [Alongwith

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

House of Lords in the case of Lupton. In that case forward stripping had been banned by the Finance Act, 1960, but the House of Lords did not think that the subsequent amendment should prejudice or cloud the … 300 (HL); Inland Revenue Commissioner v. Burmah Oil Co. Ltd. 1982 STC 30 (HL) and Furniss v. Dawson 1984 1 All England Reporter 530 (HL) added new dimension to the legal interpretation of the tax avoidance transactions. … in the case of the assessee in relation to assessment orders Under Section 143(3) for assessment years 2001-2002 and 2000-2001 respectively. These appeals have been … as on behalf of its clients. In addition, the assessee purchased on 18.12.2000 and sold on 21.12.2000 units of Sun F&C Mutual Fund. The learned

Nava Bharat Ferro Alloys Limited Vs. Andhra Pradesh State Electricity ...

Court : Andhra Pradesh

Subject : Electricity

Acts : Constitution of India - Articles 14, 226; Electricity Supply Act, 1948 - Sections 16, 16(5), 16(6), 49 and 78A; Evidence Act, 1872 - Sections 115

Reported in : AIR1985AP299

1910 (1910 Act), the Supply Act, constitutional and public law limitations including the observance of principles of public finance in formulating or revising either uniform or differential tariffs; (5) The Board cannot legally act in the style … certain revised tariffs to come into force with effect from 15th January 1984. Prior to the impugned proceedings, the tariffs were governed by B.P.Ms.No.418 (Commercial) … Sec. 49(4) of the Supply Act. 31. Sections 18, 49 and 59 of the Supply Act - Violations: Section 18 provides for general duties of the Board. Sec. 49 provides for the sale of electricity by the Board

Maharashtra State Co-operative Bank Limited and anr. Vs. the State of ...

Court : Mumbai

Subject : Banking

Acts : Code of Civil Procedure (CPC) , 1908 - Sections 9 - Order 1, Rule 1; Maharashtra Co-operative Societies Act, 1960 - Sections 2(2), 2(10), 60 and 70; National Bank for Agricultural and Rural Development Act, 1981 - Sections 2; Banking Regulation Act, 1949 - Sections 18, 24 and 56; Multi-State Co-operative Societies Act, 1984 - Sections 3 and 5; Constitution of India - Article 226

Reported in : 1997(3)BomCR4

on the business of banking and its primary object must be to finance other Co-operative Societies in the State. Otherwise how can a society be … short question that arises for consideration is : Whether a Co-operative Society registered under The Multi-State Co-operative Societies Act, 1984 (Multi-State Act for short) can be recognised and notified by the State Government as State Co-operative Bank, and … be an eligible institution for the purpose of keeping Cash Reserve Ratio and Statutory Liquidity Ratio Deposits under section 18 and 24 of Bk. Reg. Act and further, that it not being a State Co-operative Bank would not

Motisagar Estate (P.) Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)47ITD72(Pune.)

of Section 43B. The Patna High Court held that the first proviso to Section 43B inserted by the Finance Act, 1987 was enacted in order to suppress the mischief and for the purpose of giving relief to an … the case of ITO v. V.R.V. & Co. [1992] 198 ITR (AT) 25 (Mad.). The Taxation Laws (Amendment) Act, 1984 added Explanation 2 to Section 40(b) with effect from 1-4-1985 by which the Parliament has recognised the representative … CIT (Admn.).5. On appeal, the CIT(A), Pune, passed a speaking order dated 18-3-1992 in the case of Machan Real Estate Pvt. Ltd. and these reasons

industrial Credit and Investment Corpn. of India Ltd. Vs. Inspecting A ...

Court : Mumbai

Subject : Direct Taxation

Reported in : [1990]32ITD315(Mum)

the change in the system of accounting of interest from mercantile to cash basis by the concerned State Finance Corporation is legal, valid and bona fide, the Income-tax Department may accept the cash system of accounting of … assessed to tax in view of Circular F. No. 201/21/84, dated September, 1984. Reliance was also placed on the later Circular of CBDT in No. … year and, therefore, the liabilities were not payable before the end of the accounting year. He referred to section 18 of the Interest-tax Act, 1974, which provides that in computing the income of a scheduled bank chargeable to

Chunnilal Onkarmal (P.) Ltd. and anr. and Sir Sarupchand Hukamchand Pv ...

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957; Finance Act, 1983 - Sections 40; Constitution of India - Article 14; Finance Act, 1960 - Sections 13; Companies Act

Reported in : (1994)121CTR(MP)116; [1996]221ITR459(MP)

are pending consideration.4. The petitioners have in this petition challenged the constitutional validity of Section 40 of the Finance Act, 1983, on the ground that it violates Article 14 of the Constitution of India. According to the petitioners, … company and is also its managing director.3. Petitioner No. 1 company filed wealth-tax returns for the assessment years 1984-85 and 1985-86 under the Wealth-tax Act, 1957 (Act No. 27 of 1957), before the Wealth-tax Officer raising various