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Kanchanjanga Pvt. Ltd. Vs. Collector of Customs

Court : Kolkata

Subject : Customs

Acts : Finance Act, 1992; ;Customs Act, 1962 - Sections 15, 15(1), 17, 60, 61, 61(2) and 68

Reported in : 1993(66)ELT171(Cal)

The petitioner is now being called upon to pay not only interest but also enhanced duty under the Finance Act of 1992, which came into force on 1st March, 1992. If the Bills of Entry for ex-bond clearance … for which the prescribed period of time is three months after the proper officer made an order and Section 60 permits deposit of the goods in a warehouse. In other words, the underlying assumption of the statute is

Ksl and Industries Ltd. Vs. the Chairman, the Securities and

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

Subject : MRTP

Reported in : (2003)48SCL285SAT

Pvt. Ltd., an associate concern of MFL operating from the same premises and having common directors for providing finance through six multiple applications of 10 lac shares of Rs. 1.00 crore each in the Public Issue of … the Respondent No. 1 (SEBI) on 29.11.2002 under section 11B of the Securities and Exchange Board of India Act, 1992 (the SEBI Act) read with regulation 12 of the Securities and Exchange Board of India (Prohibition of Fraudulent … Ltd., also for receiving financial accommodation to enable him to apply for 60 lac shares in the Public Issue of MFL by way of six

Sahara India Savings and Investment Corporation. Ltd. Vs. Asstt. Cit

Court : Allahabad

Subject : Direct Taxation

Reported in : [2001]79ITD56(NULL)

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 … Banking Regulation Act, the R.B.Is Directions for Residuary Non Banking Companies (R.B.I.) Directions, 1987copy placed at pages-31 to 60 of the assessees Paper Bookand the R.B.Is letter dated 16-9-1987 written to the assesee (copy at page-33 of

Bank of America Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2001)78ITD1(Mum.)

income-tax) of this Act in respect of the total income of the previous year of every person. The Finance Act, 1992, Finance Act, 1993 and the Finance Act, 1994 provide for levy of tax in the case of companies … Income-tax Act read with the Finance Act is to be restricted to 60 per cent as difference in the rate of tax of the domestic … States. It had filed the returns of income for assessment years 1992-93 to 1994-95 in India. Assessments under Section 143(3) had been completed for the said assessment years. In the case of domestic companies, the rate of

K.M. Vijayan and Others Vs. Union of India and Others

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(7), 2(24), (31) and (45), 3, 4 , 4(1), 5, 6, 7, 8, 9, 10(32), 14, 15, 16, 19(3), 17, 18, 19, 19(1), 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 64(1), 64(1A), 65, 80(L), (U), (CC) and (CCB), 88, 139, 159(6), 162, 171 and 171(1) and (9); Constitution of India - Articles 14 to 19 and 248

Reported in : [1995]215ITR371(Mad)

order or direction declaring the provisions of section 64(1A) of the Income-tax Act, 1961, as amended by the Finance Act, 1992, as illegal, beyond the scope of preventing avoidance of tax and inconsistent with the scheme of the Income-tax … Act. Section 14 to 59 deals with the enumeration of six heads of income and their allied principles. Section 60 to 65 deals with fictional inclusion of other persons' income in certain circumstances with that of the individual.

Lloyds Realty Limited Vs. the D.C.i.T., Special Range 36

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2004)90ITD710(Mum.)

interpretation of the relevant provisions of Section 40 of the Finance Act, 1983 which was omitted by the Finance Act, 1992 w.e.f. 1.4.93. The aforesaid Section 40 contemplates levy of wealth tax on closely held companies. As per Sub-section

Jerome (Appellant) Vs. Kelly (Her Majesty's Inspector of Taxes (Respon ...

Court : House of Lords

Subject : Land Acquisition

vesting of the legal estate in the land) because of section 46 (1) of the 1979 Act (now section 60 (1) of the 1992 Act) which provides as follows: "In relation to assets held by a person as … trusts has been part of the architecture of the capital gains tax since it was introduced by the Finance Act 1965: see sections 22(5) and paragraph 13(1) of Schedule 7. Indeed, goes back even further, being derived from … of the Capital Gains Tax Act 1979 ("the 1979 Act"), since replaced by the Taxation of Chargeable Gains Act 1992 ("the 1992 Act"). The provision of central importance is section 27 (1) of the 1979 Act (now section

Deputy Commissioner of Vs. Sri Gopala Krishna Jute Mills Ltd.

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (1996)57ITD160(Hyd.)

the Commissioner (Appeals). 47.3 This amendment takes effect from 14th May, 1992, i.e., the date on which the Finance Bill, 1992, received the assent of the President. [Sections 60 and 61].The amount on which the additional tax … 3,34,950Surcharge @ 8% thereon 26,796Total: 3,61,746 3. The Assessing Officer issued an intimation under Section 143(1)(a) of the Act, dated 31-3-1991, wherein the income returned was shown at Rs. 6,09,004 and the income without recourse to the

Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2000)241ITR43(Mum.)

incorporated mainly to encourage earning of the foreign exchange, inviting our attention to the relevant notes to the Finance Act, 1967, the learned counsel contended that s. 85C granted the deduction till asst. yr. 1972-73 when s. 80-O … 85C as it stood then. The new s. 80-O allowed deduction of 60 per cent of income by way of royalties, commission, fees, etc. received … 1. The appeal of the assessee, for asst. yr. 1992-93, had come up for hearing before 'A' Bench, Mumbai and on the recommendation of the Bench, the President … s. 80-O. It was reiterated that s. 80-O is a stand alone section.Referring to the decision of the Supreme Court in the case of Distributors

Allied Equipment and Services and ors. Vs. Debt Recovery Tribunal and ...

Court : Delhi

Subject : Commercial

Acts : Constitution of India - Articles 226 and 227; Indian Contract Act - Sections 16; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 19 and 22; Debt Recovery Tribunal (procedure) Rules, 1993 - Rule 12, 12(6) and 12(7); Debt Recovery Tribunal (procedure) Regulations - Regulations 21 and 23; Code of Civil Procedure (CPC), 1908

Reported in : AIR2002Delhi201

upon the petitioner company, the terms and conditions which suited its convenience. A ICD from the Indian Railways Finances Corporation was got arranged by the respondent company to the petitioner company in order to finance the payment … & Services approached the bank for advance of Rs. 2 crores for the purpose of promoting its business activities. The bank arranged for inter corporate deposit of Rs. 2 crores between May, 1992 to August, 1992 which … of the applicant bank. The contract between them, is thereforee, voidable under Section 16 of the Contract Act. It is stated that the allegations made … of the share pledged by her. Besides, the appellants were also pledged 60,000 shares to M/s. Rossell Industries Ltd., as security with the respondent bank