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M/S Chiramith Precision India and Vs. the Commissioner of Customs,

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT

Subject : Land Acquisition

Reported in : (2001)(77)ECC779

Pvt Ltd. (iii) Statement dt 2.6.98 of Shri R. Gurumurthy, Manager - Finance & Admn. of Dolan Technocrafts Pvt Ltd, Bangalore.which categorically demolish the Revenue's … selective industries there could be no violation of the Customs Act or the Foreign Trade (Development & Regulations) Act 1992 or the notifications and Policy & Procedures issued under these Acts. Therefore, we cannot find any cause for … are liable for confiscation. Since the goods are not available for confiscation M/s Chiramith liable for penalty under Section 114 of the Customs Act 1962." We find from the above, that the reliance of the learned Commissioner as

Shri D.D. Gandhi, Al Hadi Impex and Vs. Commissioner of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Service Tax

Reported in : (2007)(120)ECC302

Act, 1962 read with Section 50 of the Customs Act and 11(1) of the Foreign Trade Development (Regulation) Act, 1992 and as to why penal action should not be taken against them under the provisions of Section 114(i) … though the export firm was floated by one Shri Ali Raza Lasanwala but the actual person who had financed the export was Shri Sadiq Hussain Yusuf Ali Pattawalla. As a result of investigation the premises of the

Dawn Miles Co. Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Subject : Excise

Reported in : (2000)(118)ELT541Tri(Mum.)bai

the record or under Section 35G for reference to the High Court (this has been modified under the Finance Act, 1999). Therefore after the decision of the Tribunal only in terms of Section 35C (2) the Jurisdiction of … Section 35B and Section 35C will clearly show that the Tribunal does not have power to review unlike Section 114 of CPC. I am therefore constrained to accept the arguments of ld. DR and I reject the arguments

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

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Land Acquisition

of Section 14-A by the Finance Act, 2001 with retrospective effect from 1.4.1962; Explanation to Section 36(1)(viii) by Finance Act, 1992 with retrospective effect from 1.4.1987 and so on. If intention of the legislature was to give retrospective effect … in India, did not have any binding force on Indian courts (CIT v. A. Gajapathy Naidu, 53 ITR 114 (SC), 117 and 118). The majority decision in Griffiths v. J.P.Harrison, 58 ITR 328(PC) accorded with the provisions

Life Insurance Corporation of Vs. Joint Commissioner of Interest

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

is intended to be taxed under the provisions of the Interest-tax Act (45 of 1974) as amended by Finance Act, 1992. As stated earlier, exclusion of interest on securities from the taxability to Interest-tax Act led to ambiguity. Hence, … interest under the Act as the same could not be classified as interest on loans and advances under Section 2(7) of the Interest-tax Act, 1974 (as amended by the Finance Act, 1994).4. Assessing Officer (AO for short) … the levy in 1991 was referred to (190 ITR 89 at p. 114 (St)]. Our specific attention was drawn to the following observations of the

Life Insurance Corporation of India Vs. Joint Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)74TTJ(Mumbai)624

securities is intended to be taxed under the provisions of the Interest Tax Act (45/1974) as amended by Finance Act, 1992. As stated earlier, exclusion of interest on securities from the taxability to Interest Tax Act led to ambiguity. … interest under the Act as the same could not be classified as interest on loans and advances under section 2(7) of the Interest Tax Act, 1974 (as amended by the Finance Act, 1994).4. Assessing officer in the … while reviving the levy in 1991 was referred to (190 ITR 89 114). Our specific attention was drawn to the following observations of the Hon'ble

Lic of India Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2002)82ITD749(Mum.)

on securities is intended to be taxed under the provisions of the Interest-tax Act (45/1974) as amended by Finance Act, 1992. As stated earlier, exclusion of interest on securities from the taxability to interest-tax Act led to ambiguity. Hence, … interest under the Act as the same could not be classified as interest on loans and advances under Section 2(7) of the Interest-tax Act, 1974 (as amended by the Finance Act, 1994).4. Assessing Officer (AO for short) … in 1991 was referred to [(1991) 190 ITR (St) 89 at p. 114].Our specific attention was drawn to the following observations of the Hon'ble Finance

Satya Pal Amrik Singh and Co. Vs. Union of India and ors.

Court : Punjab and Haryana

Subject : Direct Taxation

Reported in : (1997)142CTR(P& H)332

1989. The respondents were not to deduct income-tax on excise duty payable by petitioners holding L-14 liquor licences.'By Finance Act, 1992, s. 44AC was deleted from the Act. However, deduction of income-tax at source was again resorted to under … by the CBDT vide Circular No. 660, dt. 15th September, 1993 [(1993) 114 CTR 33].In the reply filed by it, the respondent No. 1 has … shall not apply so long as the certificate is in force .....Explanation - For the purpose of this section :(a) buyer means a person who obtains in any sale, by way of auction, tender or any other

Standard Chartered Bank Vs. Andhra Bank Financial Services Ltd. and or ...

Court : Supreme Court of India

Subject : CivilCompany

Acts : Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 - Sections 3, 3(3), 5, 10 and 13; Companies Act, 1956 - Sections 2(12), 108, 108(1), 111, 111(1), 111(2), 111(7), 155, 620, 620(1) and 620(2); Companies (Amendment) Act, 1988; Specific Relief Act, 1963 - Sections 34; Specific Relief Act, 1877 - Sections 42; Transfer of Property Act, 1882 - Sections 9, 130 to 136 and 137; Evidence Act, 1872 - Sections 35, 110, 114 and 165; Benami Transactions (Prohibition) Act, 1988 - Sections 3(3) and 4(2); Sale of Goods Act, 1930 - Sections 27; Code of Civil Procedure (CPC) - Sections 11 - Order 12, Rule 1

Reported in : AIR2006SC3626; 2006(5)SCALE384; (2006)6SCC94; [2006]68SCL109(SC); MANU/SC/2534/2006

These two appeals under Section 10 of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 (hereinafter referred to as 'the Act') are against the judgments of the Special Court constituted under Section 5 … learned Counsel for SCB. An adverse inference is a presumption which the court is entitled to draw under Section 114 of the Indian Evidence Act, 1872 read with illustration (g) thereto. Mr. Jethmanlani contended that the weight of … securities were repeatedly shown as bought and sold in order to advance finances to certain brokers. HPD was one of them. The so called '15%

Sahara India Savings and Investment Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Subject : Land Acquisition

need to amend the law and insert sub-clause (va) in Section 2(5B) of the Interest Tax Act by Finance Act, 1992 w.e.f. 1-4-1993 to include a Residuary Non-Banking Company even the explanatory memorandum as stated above to bring out … by the mover of the bill, i.e., Finance Minister. The Finance Minister stated as follows (190 ITR St. 114) : "In view of the binding fiscal constraints and the need to mobilise resources, I propose to revive