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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 … thereof.2. Factual background highlighted by the petitioner is essentially as follows:Petitioner, a trading unit, imported a consignment of 44000 pieces of video cassettes of make of Panasonic NV, E-180, from the United Arab Emirates. A bill of

Commissioner of Income Tax Vs. Khoday Industries Ltd.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 256(1), 263, 119, 119(1), 119(2), 404(4); Finance Act, 1984 - Sections 8(c); Finance Act, 1985; Finance Act, 1966 - Sections 2(7)

Reported in : [2006]285ITR523(KAR); [2006]285ITR523(Karn)

rival contentions, it is necessary to have a look at the relevant provision as provided under Section 8(c), Finance Act, 1984, and the Finance Act, 1985, which reads as follows:8(c)-'industrial company' means a company which is mainly engaged in … be in fact attributable to the business of manufacture or processing carried on by the assessee under Section 404(4) of the Act. In the case of Minocha Brothers (P) Ltd. (supra), the Supreme Court held that in

Bachhraj Factories Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1996)56ITD225(Mum.)

the Wealth-tax Act is the aggregate value of all the assets owed by the assessee whereas under the Finance Act, 1984 it is the value of all the assets enumerated in Sub-section (3). But that difference, in our opinion, … assessee on the valuation date other than those specified in items (i), (ii) and (iii) of that section. Section 4 includes certain assets in the net wealth while Section 5 provides for exemption in respect of specified assets

Ambika Nahar Exports and anr. Vs. Commissioner of Customs (Port) and o ...

Court : Kolkata

Subject : Customs

Acts : Customs Act, 1962 - Sections 28, 125, 128, 128A, 129A to 129E, 130, 130A and 130E; ;Finance Act, 1984 - Section 40; ;Customs Tariff Act, 1975; ;Customs and Central Excises Laws (Amendment) Act, 1988; ;Customs and Excise Revenues Appellate Tribunal Act, 1986 - Section 3; ;Central Excise Act, 1944 - Section 35F; ;Income Tax Act, 1961 - Sections 254(1), 254(2), 256 and 256(1); ;Indian Income Tax Act, 1922 - Sections 33(4) and 66(1); ;Indian Penal Code (IPC), 1860 - Sections 193, 196 and 228; ;Code of Criminal Procedure (CrPC) , 1973 - Section 195; ;Code of Civil Procedure (CPC) , 1908; ;Constitution of India - Article 226

Reported in : 2007(3)CHN625

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 concerned with such appeal and which is … referred to in 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 concerned with

Assistant Commissioner of Vs. Canara Food Processors (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1993)45ITD500(Pune.)

assessments. Even after re-opening, the assets brought to tax would have been exempt under Section 40 of the Finance Act, 1983. Revenue is in appeal on the following common grounds, viz. : (1) The order of the CWT … re-opening, the assets brought to tax would have been exempt under Section 40 of the Finance Act, 1983. Revenue is in appeal on the following … of convenience, as they relate to same assessee and involve common issue.2. These appeals pertain to assessment years 1984-85, 1985-86, 1986-87 and 1987-88 and arise out of the common orders passed by the CWT (Appeals), Belgaum for

Cwt Vs. Jodhana Real Estate Development Co. (P) Ltd.

Court : Rajasthan

Subject : Direct Taxation

Reported in : (2002)178CTR(Raj)305

in the circumstances of the case the Tribunal was justified in holding that the amendment made by the Finance Act, 1988 removing wealth-tax on stock-in-trade was a substantive law and hence not retrospective in operation2. Whether, on the … properties be valued as per Schedule III to the Wealth Tax Act for the assessment of assessment year 1984-85 whereas the said Schedule III came into existence with effect from assessment year 1989-90?3. Whether, on the facts … Mathur, J.The Tribunal, Jaipur Bench, Jaipur has made the instant reference under section 27(1) of the Wealth Tax Act seeking opinion of this court on … as mentioned against each of them from Shri Gaj Singh :Rs.Jawahar Khana 48,000Saloon House 1,57,000Large House, Mt. Abu 46,000Land near Stadium, Jodhpur 77,000Land to the

Third Income-tax Officer Vs. Greenline Motors

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1991)36ITD147(Bang.)

for the revenue, contended that the first proviso appeared on the statute book on 1 -4-1988 (inserted by Finance Act, 1987) and that this proviso has no application to an assessment anterior to 1-4-1988. In answer thereto, Shri … the opening belance should be deemed tohave been allowed in the previous assessment year (this assessment year is 1984-85)on accrual basis and, therefore, payments made to the Government during the years hould be set off against collections … passed by the Commissioner of Income-tax (Appeals), restricting the disallowance, made under Section 43B, to Rs. 62,071 as against the figure of Rs. 4,22,605 taken

Sri Srinivasa theatre, Gillalamamidada, East Godavari Dist Vs. Commerc ...

Court : Andhra Pradesh

Subject : Other Taxes

Acts : Andhra Pradesh Entertainment Tax Act, 1984 - Sections 4, 4-A, 4-C, 4-C(1), 5, 5(1), 5(3), 9, 9-A(1), 9-A(2), 16(2-A); Andhra Pradesh Entertainment Tax Rules, 1984 - Rules 10, 27, 27(10), 27(13), 33, 33(7), 33(10), 43-D, 49 and 49(2); Andhra Pradesh Cinemas (Regulation) Act, 1955; Orissa Sales Tax Act, 1947 - Sections 12, 12(6), 23 and 23(3); Bengal Finance (Sales Tax) Act, 1941 - Sections 20(3);

Reported in : 2001(4)ALD747; 2001(4)ALT725

5, 5 (1), 5 (3), 9, 9-A (1), 9-A (2) and 16 (2-A) of Andhra Pradesh Entertainment Tax Act, 1984 and Section 20 (3) of Bengal Finance (Sales Tax) Act, 1941 - appellant firm carrying business of exhibition … stated that the Exhibitors situated in areas having population less than 25,000 are liable to pay tax under Section 4(c) at a percentage of notional gross collection capacity for every show screened irrespective of actual number of tickets

M.m. Aqua Technologies Ltd. Vs. Commissioner Of Income Tax, Delhi - Ii ...

Court : Supreme Court of India

Subject : Direct Taxation

In para 8, the judgment then set out Section 43B with Explanation 3C, which was inserted by the Finance Act, 2006 6 retrospectively w.e.f. 1.4.1989. The High Court concluded, based on Explanation 3C, as follows: “10. Now, Explanation … their income tax assessments. This apprehension, which was the rationale behind Section 43B when it was introduced in 1984, appears to us to be misplaced in the present case. As already pointed out, herein we are not

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