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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 … 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 … 466/05 1988-89Other three writ petitions relate to the assessment years 1990-91 to 1992-93. The petitioner has challenged the orders of remand, as made by the

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 … 1992, the said interest became an item of deduction, provided that the amount of deduction does not exceed 18/12% interest per annum [See: Section 40(b)(iv) of the 1961 Act]. For the AY 1994-95, Department in this case,

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)

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 … 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

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

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 … (1) or Sub-section (2) or Sub-section (3) or Sub-section (5) of Section 185 or Sub-section (1) or Sub-section (2) of Section 186 or Section 250

Sri Parimal and anr. Vs. State and ors.

Court : Patna

Subject : Civil

the Municipal Corporation in view of the introduction of the Finance Act. 18. It is now well known that a statute which imposes a tax, … 30.11.1994 on payment of 5.5 lacs. According to the petitioners, in view of the provisions of the Bihar Finance Act, 1981 (Part II) (In short 'the Finance Act'), they had obtained permission of the Sales Tax Department for … cases, at the relevant time, were carrying on business of advertising agency, Petitioner in C.W.J.C. No. 8265 of 1992 was a lessee of the District Board for five years with effect from 1.4.1989 to 31.3.1994 whereas petitioner … of the Finance Act, the Commercial Taxes authorities were duly empowered under Section 77(a) of the Finance Act to take a suitable action. But, the

State of Gujarat Vs. Utility Users Welfare Association Through Its Pre ...

Court : Supreme Court of India

Subject : Land Acquisition

provisions, which will have to be referred to are being reproduced hereunder: finance, commerce, “Section 84. Qualifications for appointment of Chairperson and Members of State … Similar was stated to be the position of Section 4 of the Securities and Exchange Board of India Act, 1992. On the other hand, the specific provision made in Section 84(2) of the said Act has to be … that Section 17 of that Act was the earlier avatar of Section 84 of the said Act, while Section 18 of that Act was the earlier avatar of Section 85 of the said Act. A reference was also

Commissioner of Income Tax, Ludhiana, Etc.Etc. Vs. Shri Om Prakash, Et ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 64(1) and 263; Indian Income-tax Act, 1922 - Sections 16(3) and 35; Constitution of India - Articles 14, 19(1) and 226; Gift-tax Act - Sections 4; Wealth-tax Act - Sections 4; Finance Act, 1979 - Sections 64; Taxation Laws (Amendment) Act, 1975; Finance Act, 1992; Finance (No.2) Act, 1971;

Reported in : 1996IAD(SC)205; AIR1996SC593; (1996)130CTR(SC)82; [1996]217ITR785(SC); JT1995(8)SC245; 1995(6)SCALE487; 1995Supp(4)SCC737; [1995]Supp5SCR346

which such individual is a partner' in Clause (iii) corresponding to Clause (ii) until they were deleted by Finance Act, 1992 w.e.f. April 1, 1993 and insertion of Sub-section (1A) - with which aspects we are not concerned herein. … entire year in the status of H.U.F. On appeal, the Appellate Assistant Commissioner treated the sum of Rs. 18,520 as being the income of the former H.U.F. for the period October 1, 1949 to November 18, 1949

Shree Jagannath Packers and ors. Vs. State of Orissa and ors.

Court : Orissa

Subject : CivilSales Tax

Acts : Orissa Sales Tax Act, 1947 - Sections 6, 7 and 12; Central Sales Tax Act, 1956 - Sections 8(5) and 13(3); State Financial Corporation Act, 1951 - Sections 29; Orissa General Clauses Act, 1937 - Sections 22; Punjab General Clauses Act, 1898 - Sections 19; Bihar Finance Act - Sections 7; Customs Act, 1962 - Sections 25 and 25(1); Electricity Supply Act - Sections 49; Rajasthan Sales Tax Act, 1954 - Sections 4(2); East Punjab Public Safety Act - Sections 20 and 36(1); General Clauses Act, 1897 - Sections 21; Central Sales Tax (Deferment of Payment of Taxes) Orissa Rules, 1990; Constitution of India - Articles 14, 154(1), 154(2), 161, 162 and 166(3)

Reported in : [2005]141STC26(Orissa)

that a notification issued by the State Government in exercise of powers under Section 7 of the Bihar Finance Act to the extent it is repugnant to the Industrial Policy Resolution of the Government of Bihar is bad. … State Government of Orissa adopted IPRs from time to time, namely, IPR 1980, IPR 1986, IPR 1989, IPR 1992 and IPR 1996. Under the aforesaid IPRs some sales tax related incentives were also to be given to … foreign suppliers and goods had also arrived at Bombay Port on November 18, 1980. The Supreme Court held that the facts of the economic situation

Pan Asia Advisors International Corporate Finance Minster House and An ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : MRTP

Bonds and Ordinary Shares (through Depository Receipts Mechanism) Scheme, 1993 (“the GDR Scheme”) issued by the Ministry of Finance, Government of India and the Master Circular on Foreign Investment issued by the RBI periodically. On the contrary, … Appellants from accessing the securities market for 10 years for the violation of Regulations 12A(a)-(c) of the SEBI Act, 1992 read with Regulations 3(c)-(d), and Regulations 4(1), 4(2)(c), 4(2)(e)-(f), 4(2)(k) and 4(2)(r) of the Securities and Exchange Board … would be covered within the prohibition under the aforementioned provisions of law. 18. Given the vital functions of protecting investors and safeguarding the integrity of … trade practice in securities ….” 17. I note that the provisions of section 12A(a)-(c) of the SEBI Act read with regulations 3(c)-(d) of the PFUTP

Engineering Analysis Centre Of Excellence Private Limited Vs. The Comm ...

Court : Supreme Court of India

Subject : Direct Taxation

advance, where it is so deductible or payable under any provision of this Act.” 14 Substituted by the Finance Act 1992 (18 of 1992), sec. 3(c) (w.e.f. 1-6-1992). 28 “5. Scope of total income. (1) Subject to the provisions … to royalty and as this was so, the same constituted taxable income deemed to accrue in India under section 9(1)(vi) of the Income Tax Act, 1961 [“Income Tax Act”]., thereby making it incumbent upon all such persons