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Asea Brown Boveri Ltd. Vs. Industrial Finance Corporation of India and ...

Court : Supreme Court of India

Subject : PropertyCivil

Acts : Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 - Sections 10; Industrial Finance Corporation of India Act, 1948 - Sections 3, 3(1), 3(2) and 3(3)

Reported in : AIR2005SC17; 2005(5)ALLMR(SC)129; 2005(3)BomCR392; [2005]126CompCas332(SC); (2004)4CompLJ433(SC); JT2004(9)SC258; 2004(9)SCALE99; (2004)12SCC570; [2004]56SCL21(SC); (2005)1

custodian within one week from the date of the order.2. The Industrial Finance Corporation of India (hereinafter 'IFCI', for short) is a Corporation constituted under … is an appeal under Section 10 of the Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 (hereinafter 'the Act', for short), feeling aggrieved by an order dated 28.7.1998 whereby rejecting an objection petition preferred … agreement was entered into on 4th December, 1990.'5. Fair growth became a notified party under Sub-section (2) of Section 3 of the Act due to certain illegal transactions covering the period between 1.4.1991 and 6.6.1992. The transaction entered

Larsen and Toubro Ltd. and ors. Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Constitution of India - Articles 286 and 366(29A); Bihar Finance Act, 1981 - Sections 2, 25A, 25A(2) and 25A(7); Bihar Taxation Laws (Amendment and Validation) Act, 1993; Central Sales Tax Act, Sections 3, 4, 5, 14 and 15

submitted that Section 25-A of the Bihar Finance Act is not the charging provision, which is contained in Section 3 of the Act. The provisions as contained in Section 25-A being in the nature of ancillary or machinery … Sachchida Nand Jha, J. 1. The vires of Section 25-A of the Bihar Finance Act, 1981 and the related rules and notification regarding deduction of sales tax at source from the contractors' bills

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 … an order under Section 154 ?The assessee filed return of income on 31st Dec, 1990 for the asst. yr. 1990-91 declaring a loss of Rs.

Commissioner of Wealth-tax Vs. Laxmi Dutt

Court : Allahabad

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 3 and 5(1); Finance Act, 1992; Companies Act

Reported in : [2003]263ITR225(All)

counsel for the Department. Section 5(1)(iv) of the Wealth-tax Act, as it existed before its deletion by the Finance Act, 1992, stated :'5. (1) Wealth-tax shall not be payable by an assessee in respect of the following assets, and … the Wealth-tax Act, although it is a legal entity under the Income-tax Act.6. It has been mentioned in Section 3 of the Wealth-tax Act, which is the charging section, that wealth-tax is levied on individual, Hindu undivided family

Syndicate Bank Employees' Co-operative Thrift and Credit Society Ltd. ...

Court : Chennai

Subject : Direct Taxation

Acts : Interest Tax Act, 1974 - Sections 2(5A); Banking Regulation Act, 1949 - Sections 3, 6, 10, 22, 51 and 56; Multi State Co-operative Societies Act; Finance (No. 2) Act, 1991; Finance Act, 1992

Reported in : [2006]287ITR40(Mad)

Sub-sections (5A) was inserted by the Finance (No. 2) Act, 1991 w.e.f. 1st Oct., 1991 and by the Finance Act, 1992, the words in a square brackets in the above sub-section, namely 'or a co-operative society engaged in carrying … facts and in the circumstances of the case, the Tribunal is right in not considering the application of Section 3, Section 22 and Section 56 of the Banking Regulation Act, 1949 to the facts of the case with

The Commissioner of Income Tax-v Vs. Natraj Stationery Products (P) Lt ...

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80IA, 80IA(2), 80IB, 80IB(3), 143(1) and 260A; Finance Act, 1991; Finance Act, 1992; Finance Act, 1993; Finance Act, 1994; Finance Act, 1995; Finance Act, 1996; Finance Act, 1997; Income Tax (Amendment) Act, 1998; Finance Act, 1998; Finance Act, 1999

Reported in : (2009)222CTR(Del)430; [2009]312ITR22(Delhi); [2009]177TAXMAN168(Delhi)

would be sufficient, if a note is made of the fact that the Section was amended by the Finance Act, 1992 with effect from 01.04.1993, thereafter by the Finance Act, 1993 with effect from 01.04.1994, then the Finance Act, … judgment dated 05.01.2007 passed by the Income Tax Appellate Tribunal (hereinafter referred as the 'Tribunal') in ITA No. 313/Del/2006 and ITA No. 3509/Del/2003, in respect of the assessment years 2000-01 and 2001-02 respectively. These two appeals are

Ajay Kumar Saha and ors. Vs. Union of India (Uoi) and ors.

Court : Patna

Subject : Criminal

were seized under Section 110 of the Customs Act, 1962 for violation of Government of India, Ministry of Finance Notification No. 9/96-Cus, dated 22-1-1996 issued under Section 11 of the Customs Act, 1962 read with Section 3 … Section 11 of the Customs Act, 1962 read with Section 3 of the Foreign Trade (Development and Regulation Act, 1992 on the belief that the goods have illegally been imported into India. In order to ascerain that 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 … Punjab and Haryana High Court whereby the High Court has upheld the disallowance of interest claimed under Section 36(1)(iii) of the Income-tax Act, 1961 ('1961 Act', for short), placing reliance on its judgment in the case of

Deputy Commissioner (Law), Commercial Taxes Vs. C.P. Rajarathinam

Court : Kerala

Subject : Sales Tax/VAT

Acts : Kerala General Sales Tax Act, 1963 - Sections 17(3) and 17(4); Finance Act, 1992; Finance Act, 1993; Kerala General Sales Tax Rules, 1963 - Rule 18A, 18A(1A), 18(A)(1B), 18A(2), 18(2) and 18(5)

Reported in : (2008)11VST53(Ker)

we have to consider the relevant provisions of the Act. Section 17(4) of the Act, as substituted by Finance Act, 1992 with effect from April 1, 1992 and further substituted by the Finance Act, 1993, published in the Kerala … The assessment of the respondent was completed under Section 17(3) of the Act as per order dated October 30,1995 (annex-ure A). Aggrieved by the said order, the assessee filed an appeal before the Assistant Commissioner, Agricultural Income-tax

Excise Commissioner and anr. Vs. Mysore Sales International Ltd. and o ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 3, 44AC, 119, 120(1), 120(2), 120(4), 124(2), 124(3), 124(4), 124(5), 206C, 206C(1), 206C(2), 206C(3), 206C(5), 206C(6), 206C(7), 206C(9) and 206C(11); Finance Act, 1992; Karnataka Excise Act, 1963 ; Salt Act, 1944 - Sections 5(3); Karnataka Excise (Lease of Right of Retail Vend of Liquors) Rules, 1969 - Rule 3; Karnataka Excise (Arrack Vend Special Conditions of Licenses) Rules, 1967 - Rule 4; Constitution of India - Article 226 and 227

Reported in : [2006]286ITR136(KAR); [2006]286ITR136(Karn)

Clause (a) 'buyer' Sub-clauses (i) to (iii) which provisions were inserted by way of an amendment by the Finance Act, 1992, which have come into force w.e.f. 1st April, 1992, wherein the definition of 'buyer' under Clause (a) is … the Act from the contractors/buyers for the period in question and remitted to the Department as required under Section (3) of the said provision. Therefore, it is urged by them that the learned single Judge has committed an