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East India Hotels Ltd. and anr. Vs. State of Rajasthan and ors.

Court : Rajasthan

Subject : Direct Taxation

Acts : Rajasthan Land and Buildings Tax Act, 1964 - Sections 2(10), 3, 3(1B), 6, 10, 10A, 11, 11(1), 13, 13(1), 13(1B), 14, 15, 15B, 16A(1), 16(1), 21, 22 and 22A; Rajasthan Urban Land Tax (Amendment) Act, 1973 - Sections 4, 7, 7(2), 7(3) and 8 to 12; Rajasthan Lands and Buildings Tax (Amendment) Act, 1995; Rajasthan Ordinance, 1988; Wealth-tax Act, 1957; Motor Vehicles Taxation Act; Finance Act, 1989 - Sections 3(1B); Companies Act; Constitution of India - Articles 14, 141, 245 and 265

Reported in : AIR2001Raj286; [2001]250ITR789(Raj); 2001(4)WLN217

in the matter of the one-time tax scheme introduced by way of insertion of Section 5(1B) of the Finance Act, 1989 (Act No. 6 of 1989).2. The questions for our consideration are :'(1) Whether, fresh assessment is permissible under … any further tax liability under the Act cannot arise merely on account of the transfer of such property.(7) Section 15 of the Act provides for amendment of assessment order, inter'alia, by reason of any change having taken place

East India Hotels Ltd. and Another Vs. the State of Rajasthan and Othe ...

Court : Rajasthan

Subject : Other Taxes

Acts : Rajasthan Land and Building Tax Act, 1984 - Sections 2(10), 3(1B), 6, 13, 15, 19, 21, 37, 42 and 50; Constitution of India - Articles 14, 141, 245, 265 and 299; The Finance Act, 1989 - Sections 3(1B) and 16A (1); Companies Act, 1956; Finance Act, 1997 - Sections 14; Wealth Tax Act, 1957; Rajasthan Lands and Buildings Tax (Amendment) Act, 1995; Rajasthan Urban Land Tax (Amendment) Act, 1973 - Sections 8 and 12; Code of Civil Procedure (CPC), 1908 - Sections 58

Reported in : 2001(3)WLC62

in the matter of one lime tax scheme introduced by way of insertion of Section 3(1B) of the Finance Act, 1989 (Act No. 6 of 1989)(2). The questions for our consideration are that:-(1) Whether, fresh assessment is permissible under … further tax liability under the Act cannot arise merely on account of me transfer of such properly. (7) Section 15 of the Act provides for amendment of assessment order, inter alia, by reason of any change having taken

Atiq Malik Vs. State of Uttaranchal and ors.

Court : Uttaranchal

Subject : Property

Reported in : AIR2007Utr78; I(2008)BC345; [2007]139CompCas355(Uttaranchal); [2008]88SCL267(NULL)

Act or the rules made thereunder shall be in addition to and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 (63 of 1951), the Unit Trust … 1984), and the Sick Industrial Companies (Special Provisions) Act, 1985 and the Small Industries Development Bank of India Act, 1989.The above provision clearly makes it evident that the provisions of Recovery of Debts Due to Banks and Financial … by Dena Bank and another for winding up of the company under Sections 433, 434 and 439 of the Company Act, 1956, before High Court

Commissioner of Income-tax Vs. Kerala Electric Lamp Works Ltd. and Cro ...

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 2001; Income Tax Act, 1961 - Sections 32 and 32(1)

Reported in : (2003)183CTR(Ker)182; [2003]261ITR721(Ker)

of the Revenue arose for consideration. The word 'record' has been given a wider interpretation as per the Finance Act, 1989, with effect from June 1, 1988, which amended Section 25(2) of the Wealth-tax Act to the effect that … the assessment year 1986-87 the same question arose for consideration before this court and by judgment dated October 15, 1999, this court answered the question referred to it in favour of the assessee and against the Revenue,

Cit Vs. Kerala Electric Lamp Works Ltd.

Court : Kerala

Subject : Direct Taxation

Reported in : [2003]129TAXMAN549(Ker)

of the revenue arose for consideration. The word 'record' has been given a wider interpretation as per the Finance Act, 1989 with effect from 1-6-1988 which amended section 25(2) of the Wealth Tax Act to the effect that 'record … for the assessment year 1986-87 the same question arose for consideration before this court and by judgment dated 15-10-1999, this court answered the question referred to it in favour of the assessee and against the revenue. The

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

amount of Rs.2,04,39,093/- under provisions of Rule 14 of the Credit Rules read with Section 73 of the Finance Act,1994. In respect of towers and parts thereof, prefabricated building, printers and office chairs, the Commissioner observed that the … v. Collector of Central Excise, Calcutta 1994 (74) ELT 22 59Collector of Central Excise v. Ambalal Sarabhai Enterprises, 1989 (43) ELT 214 60.Union Carbide India Ltd. v. Union of India and Ors. (1986) 2 SCC 547 61. … the Act; (ii) penalty should not be imposed under provisions of Rule 15(1) of the Credit Rules on account of Cenvat Credit wrongly taken and

Ksl and Industries Ltd. Vs. Arihant Threads Ltd. and ors.

Court : Supreme Court of India

Subject : SICABanking

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 2, 3, 15 to 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29, 32 and 32(1); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 25, 28, 29, 30, 34, 34(1) and 34(2); Income Tax Act, 1961 - Sections 72A; Companies Act, 1956 - Sections 529(1) and 529A; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951 - Sections 29 and 46B; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Small Industries Development Bank of India Act, 1989; Code of Civil Procedure (CPC) , 1908 - Sections 9; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000;

Reported in : IV(2008)BC421(SC); 153(2008)DLT27(SC); 2008(12)SCALE42; (2008)9SCC763

of the Board and Appellate Authority. References, Inquiries and Schemes have been dealt with in Chapter III. Whereas Section 15 provides for Reference to Board, Section 16 speaks of Inquiry into working of sick industrial companies. Section 17 … of India (`IDBI' for short) which was the predecessor of the Stressed Assets Stabilisation Fund (`SASF' for short), financed the project undertaken by the Company by way of foreign currency loan and also working capital of Rs. … the provisions of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereafter referred to as `SICA'), no recovery proceedings could be effected … Provisions) Act, 1985 and the Small Industries Development Bank of India Act, 1989.(emphasis supplied)24. According to the Company, there is a bar against initiation or

G.T.C. Industries Ltd. Vs. the Dy. Cit, Spl. Rg. 50

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

or item (b) of Sub-clause (iii) of Clause (14) of Section 2. The amendment was made by the Finance Act, 1989 with retrospective effect from 1.4.1970 when the provisions of Section 2(14) themselves were introduced in the statute book … Under Section. 143(3) proceedings by the Assessing Officer, can be disallowed by invoking the provisions contained Under Section 154 of the Income Tax Act, 1961, and basing on the amendment made to Section 36(1), Clause -(7), which

Gtc Industries Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)104ITD86(Mum.)

or item (b) of Sub-clause (m) of Clause (14) of Section 2. The amendment was made by the Finance Act, 1989 with retrospective effect from 1-4-1970 when the provisions of Section 2(14) themselves were introduced in the statute book. … the assessee and allowed under Section 143(3) proceedings by the Assessing Officer, by invoking the powers under Section 154 of the Income-tax Act, 1961.3. On careful consideration of the material available with the Tribunal and analysing the

Gtc Industries Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)105TTJ(Mum.)1010

or item (b) of Sub-Clause (iii) of Clause (14) of Section 2. The amendment was made by the Finance Act, 1989 with retrospective effect from 1st April, 1970 when the provisions of Section 2(14) themselves were introduced in the … by the assessee and allowed under Section 143(3) proceedings by the AO, by invoking the powers under Section 154 of the IT Act, 1961.3. On careful consideration of the material available with the Tribunal and analysing the