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Securities and Exchange Board of India Vs. Pan Asia Advisors Ltd. and ...

Court : Supreme Court of India

Subject : Land Acquisition

of the Board have been clearly set out in Section 11B as well as 11C read along with Section 12 of the SEBI Act, 1992. The learned senior counsel by making reference to Section 12A of SEBI Act, … said respondent’s name has been changed and is now known as Global Finance & Capital Limited, having its office International Corporate House, Monster House, 42 … arises in this appeal relates to the jurisdiction of SEBI under the Securities and Exchange Board of India Act, 1992, (in short “SEBI Act, 1992”) to initiate proceedings against the respondents as Lead Managers to the Global Depository

Indian Oil Corporation Ltd. Vs. the State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Bihar Tax on Entry of Goods into Local Areas for Consumption Use or Sale Therein Act, 1993 - Sections 7; Bihar Finance Act, 1981 - Sections 16(9)

or Sale Therein Act, 1993 (hereinafter referred to as 'the Act') read with Section 16(9) of the Bihar Finance Act (hereinafter referred to as the 'Finance Act') for not paying the admitted tax under the Act within time … was disposed of by the Government of Bihar. On 10-6-1997, the petitioner filed returns for the financial years 1992-93, 1993-94, 1994-95, and 1995-96 after payment of entry tax in respect of all the said financial years amounting … make payment with effect from May, 1993 and appear before him by 12-3-1996, along with full statementand payment challans. Again reminder was sent by respondent

Janatha Tile Works Ltd. Vs. Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 43B, 139, 142(1), 143, 143(1), 143(1A), 143(2), 143(3), 144, 147, 154, 154(1), 155, 156, 185(1), 185(2), 185(3), 185(5), 186(1), 186(2), 245D(4), 250, 254, 255, 256(1), 260, 262, 263 and 264; Finance Act, 1992; Direct Tax Laws (Amendment) Act, 1989; Finance Act, 1999

Reported in : (2006)202CTR(Ker)103; [2006]283ITR35(Ker); 2006(2)KLT426

of Section 143(1A) by the Finance Act, 1992 (18 of 1992) w. 12. We are, therefore, of the view that additional income-tax under Section 143(1A) … justified in not following the decisions of the Calcutta and Delhi High Courts since the impact of the Finance Act, 1992 was not pointedly raised or considered in the above decisions. Counsel submitted that Revenue is justified in levying … K.S. Radhakrishnan, J.1. Tribunal, Cochin Bench has made this reference under Section 256(1) of the IT Act, 1961. Three questions of law have been referred for consideration which are given

Munjal Sales Corporation Vs. Commissioner of Income Tax, Ludhiana and ...

Court : Supreme Court of India

Subject : Direct taxation

Acts : Income Tax Act, 1961 - Sections 28 to 43C; Finance Act, 1992 - Sections 40;

Reported in : (2008)215CTR(SC)105; [2008]298ITR298(SC); 2008(2)SCALE598; (2008)3SCC185; 2008AIRSCW1369

payment of interest by the firm to any partner of the firm constituted business disallowance per se. After Finance Act 1992, Section 40(b)(iv) of the Act places limitations on the deductions under Sections 30 to 38. Prior to Finance Act … S.H. Kapadia, J.1. Leave granted.This batch of civil appeals filed by the assessee is directed against judgments dated 12.10.06 and 16.10.06 passed by the Punjab and Haryana High Court whereby the High Court has upheld the disallowance

Riddhi Siddhi Starch and Chemicals Ltd. Vs. Additional Deputy Commissi ...

Court : Karnataka

Subject : Sales Tax

Acts : Karnataka Sales Tax Act, 1957 - Sections 12(3), 18, 18(2) and 18AA(2); Central Sales Tax Act, 1956 - Sections 8(5) and 9(2); Finance Act, 2000 - Sections 9; Karnataka Sales Tax (Amendment) Act, 1992; Constitution of India - Articles 14, 19(1), 226 and 227

Reported in : [2006]146STC513(Kar)

stated in the 'Notes on clauses' that, the amendments would take effect from the date on which the Finance Act, 2000 receives the assent of the President. The said amendment Act received the assent of the President of … tax in contravention of Section 18 at any time before the commencement of the Karnataka Sales Tax (Amendment) Act, 1992, the provisions of Sub-sections (3) and (4) shall apply to such amount collected.It is crystal clear from clause … husk and empty gunny bags totally amounting to a sum of Rs. 12,96,892. Since the sale of these items were not supported by form C

Rakesh Gupta and Others, Etc. Vs. Hyderabad Stock Exchange Ltd. and Ot ...

Court : Andhra Pradesh

Subject : Constitution

Acts : Constitution of India - Articles 12, 32, 36, 132, 133, 134-A, 136(1), 209, 226, 226(1-A), 227, 234, 310 and 311; Securities Contracts (Regulation) Act, 1956 - Sections 2, 3, 3(2), 4, 4(1) and (2), 8, 9, 10 and 30; Companies Act, 1956 - Sections 12 and 322 ; Securities and Exchange Board of India Act, 1992 - Sections 11, 11B and 12(1), (3) and (4); Securities and Exchange Board of India (Amendment) Act, 1995; Industrial Finance Corporation Act, 1948; Industrial Development Bank Act, 1964; Life Insurance Corporation Act, 1956; General Insurance Corporation (Nationalisation) Act, 1972; Unit Trust of India Act, 1963; Societies Registration Act, 1860; Jammu and Kashmir Registration of Societies Act, 1898; Gujarat University Act, 1949; Co-operative Societies Act; L

Reported in : AIR1996AP413; 1996(2)ALT757; [1999]96CompCas645b(AP)

as member the following corporations, companies or institutions, namely- (a) the Industrial Finance Corporation, established under the Industrial Finance Corporation Act, 1948 (15 of 1948); … 42 of 1956 has been made by way of amendment by the Securities and Exchange Board of India Act, 1992 with effect from 30-1-1992. Act 15 of 1992 has envisaged the Exchange Board as a body to protect … SEBI and thus it is bound to function in accordance with the Regulations made under Act 15 of 1992. Section 11 of this Act (15 of 1992) gives to SEBI power to regulate the working of such a … a member of a Stock Exchange if- (i) such company is formed in compliance with the provisions of Section 12 of the said Act; (ii) such company undertakes to comply with such financial requirements and norms as may

ishar Dass Sahni and Sons Vs. Deputy Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Reported in : (2000)68TTJ(Del)125

80J(6A), for deciding the question whether a statute is mandatory or directory. It was stressed that by the Finance Act, 1992, a totally new scheme and procedure for assessment of firms were introduced for the first time from assessment … the course of assessment proceedings.(4) That the learned Commissioner (Appeals) has failed to appreciate that the provisions of section 184(2) cannot be regarded as mandatory and absolute in nature so as to disentitle the claim of firm, … assessed against the order of the Commissioner (Appeals) XX, New Delhi, dated 12-7-1996, for the assessment year 1993-94.1.2 Out of grounds at Sr. Nos. 1

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 … years under consideration. The hearing was fixed on 15-2-1990 before him. The assessee sent reply by letter dated 12-2-1990 which is contained at page 69 of the paper compilation book No. 2. The assessee pointed out that

Mr. Bhupendra Kumar Bhaumik Vs. Union of India (Uoi) and ors.

Court : Delhi

Subject : Direct Taxation

Acts : Constitution of India - Articles 14, 226 and 246; Income Tax Act, 1961 - Sections 45, 54E, 54E(1), 54E(1C), 269SS and 276DD ; Finance Act, 1992; Central Excise and Salt Act, 1944

Reported in : (2003)179CTR(Del)530

1C of Section 54E of the Income Tax Act, 1961 (for short the Act), as introduced by the Finance Act, 1992, praying that the words and figures '29th day of February, 1992' in the said Section be struck down … India under Capital Gains Unit Scheme, 1983. The sale deeds were allegedly executed on 30th April, 1992 and 12th May, 1992. Neither the agreement to sell nor the copies of the sale deeds are placed on record

Bhupendra Kumar Bhaumik Vs. Union of India

Court : Delhi

Subject : Direct Taxation

Reported in : [2002]125TAXMAN886(Delhi)

section 54E of the Income Tax Act, 1961 (hereinafter referred to as the Act), as introduced by the Finance Act, 1992, praying that the words and figures '29th day of February, 1992' in the said section be struck down … Trust of India under Capital Gains Unit Scheme, 1983. The sale deeds were allegedly executed on 30-4-1992 and 12-5-1992. Neither the agreement to sell nor the copies of the sale deeds are placed on record which could