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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

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 … in the context of unamended provisions in the case of Geeta Prasad Singh and Co. v. State [1986] 63 STC 337 (Pat) rendered prior to the decision of the Supreme Court in Builders Association case [1989] 73

State Bank of India Staff Co-operative Society Ltd. Vs. Income-tax Off ...

Court : Chennai

Subject : Direct Taxation

Reported in : (1998)144CTR(Mad)240

of banking not being a co-operative society providing credit facilities to farmers or village artisans (omitted by the Finance Act, 1992, w.e.f. 1st April, 1993).(ii) a public financial institution as defined in s. 4A of the Companies Act, 1956 … itself only to the common issues.17. In terms of sub-s. (2) of s. 4 which is the charging section in respect of credit institutions other than the scheduled banks, interest shall be charged on every credit institution

Sri Parimal and anr. Vs. State and ors.

Court : Patna

Subject : Civil

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 … 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 … published in a 'newspaper' or broadcast by radio or television-and any advertisement exhibited or broadcast by any political party.Section 63 of the said Act provides for levy of tax. The explanation appended to the said provisions reads thus:'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 … the case of Punjab Co-operative Bank Ltd. v. CIT (1940) 8 ITR 635, of the Andhra Pradesh High Court in the case of Andhra Pradesh

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 … be relevant to extract below the headnote of the decision at pp. 63 and 64 :'It is well settled that the question whether a statute … 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,

Jt. Cit Vs. Groz Backert Asia Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (2003)86ITD291(Chd.)

of deduction provided by sub-section (3) for several years was not considered sufficient and through amendment made by Finance Act, 1992, it has been thought proper by legislature to increase the amount of deduction by 90 per cent of … Hon'ble Allahabad High Court in the case of Modi Spinning & Weaving Industry v. ITO (1975) 101 ITR 637 (All) has held that at any particular stage of the assessment proceedings the assessee would be bound to

Shri M.U. Joshi Vs. the Tax Recovery Officer,

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 143(3) and 245I; Finance Act, 1992; Income Tax Rules - Rules 57, 58, 63(1), 68B, 68B(1) and 68B(2)

Reported in : 2005(6)BomCR17; (2005)199CTR(Bom)249; [2006]281ITR289(Bom); 2006(1)MhLj95

liable to be vacated. 10. Rule 68B was introduced in the Second Schedule to the I.T. Act by Finance Act, 1992 specifically with a view to prescribe time limit of three years for sale of attached immovable properties. Proviso … of M/s. Joychem Chemical & Pharmaceuticals Industries ('the firm' for short). Pursuant to the assessment orders passed under section 143(3) of the Income Tax Act ('I.T. Act' for short) for A.Y.86-87 and 87-88, huge demands were raised … flat for Rs.10,00,000/- in favour of the Government of India under Rule 63(1) of the Second Schedule to the I.T. Act. Challenging the aforesaid confirmation

Vijay Remedies Ltd. and ors. Vs. Securities and Exchange Board of Indi ...

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

Subject : MRTP

"I, in exercise of powers conferred under Section 4(3) of SEBI Act1992, read with Section 11B of SEBI Act, 1992 and Regulation 12 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 1995, … were made to induce the investors to subscribe to the public issue & thus are in violation of section 63 & 68 of the Companies Act, 1956. (ii) The misutilisation of issue proceeds cornering VRL shares with the … Respondent a detailed confession and information/statement about grey market operations, primary market financing and price rigging in the secondary market which included: (i) Photocopies of

Chidananda Urs B.g Vs. The State Of Karnataka

Court : Karnataka

Subject : Land Acquisition

05.12.2002.67. It is also stated in the objections that in the year 1992, the Government by executive order, created a Bureau of Investigation (BOI) in … of A.P. Lokayukta UpaLokayukta & Others v. T. Rama Subba Reddy & Another15 (Para17) and the mandate of Section 63 of the Lokpal and Lokayukta Act, 2013, any effort to disband the Institution of the Karnataka Lokayukta will … of the Head of the Department was also withdrawn. The Registrar, Karnataka Lokayukta, was authorized to operate the finances of the Police wing. This action of the Government brought the ‘police wing' under the administrative and financial

Sri. K.t. Nagaraja Vs. The State Of Karnataka

Court : Karnataka

Subject : Land Acquisition

05.12.2002.67. It is also stated in the objections that in the year 1992, the Government by executive order, created a Bureau of Investigation (BOI) in … of A.P. Lokayukta UpaLokayukta & Others v. T. Rama Subba Reddy & Another15 (Para17) and the mandate of Section 63 of the Lokpal and Lokayukta Act, 2013, any effort to disband the Institution of the Karnataka Lokayukta will … of the Head of the Department was also withdrawn. The Registrar, Karnataka Lokayukta, was authorized to operate the finances of the Police wing. This action of the Government brought the ‘police wing' under the administrative and financial