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Swam Mills Ltd., a Company Incorporated Under the Companies Act, 1956 ...

Court : Mumbai

Subject : Excise

Acts : Finance Act, 1998 - Sections 89; Central Excise Act, 1944 - Sections 11AA; Customs Act, 1962 - Sections 142; Income Tax Act - Sections 246, 245D(4), 260A and 264; Wealth Tax Act - Sections 22D(4); Foreign Exchange Regulation Act, 1973; Narcotic Drugs and Psychotropic Substances Act, 1985; ;Terrorists and Disruptive Activities (Prevention) Act, 1987; ;Prevention of Corruption Act, 1988; Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 8, 9, 9(2), 9(3) 12A and 12A(6); ;Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992 - Sections 3(2); ;Kar Vivad Samadhan Scheme, 1998 - Sections 87, 90, 92 and 95; ;Constitution of India - Article 226; ;Indian Penal Code (IPC), 1860

operative from 1st September, 1998 to 31st January, 1999. The petitioners filed declaration under Section 89 of the Finance Act, 1998 before the Commissioner of Central Excise on 31st December, 1998. 4. The aforesaid declaration filed by the … under sub-Section (2) of Section 3 of the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992 (27 of 1992).21. Section 95(i) is in respect of tax arrear under any direct tax enactment, while Section

Mecpro Heavy Engineering Ltd. Vs. Union of India and Others

Court : Delhi

Subject : Excise

Acts : Central Excise & Salt Act, 1944 - Sections 6 and 11A(2); Central Excise Rules, 1944 - Rules 9(1), 49, 52A, 53, 173(B, C, F, G), 174 and 226; Finance (No. 2) Act, 1998 - Sections 87, 88, 89, 90(1) and 95; Narcotics Drugs and Psychotropic Substances Act, 1987; Prevention of Corruption Act, 1988; Prevention of Smuggling Activities Act, 1974; Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992

Reported in : 2001(59)DRJ99; 2001(76)ECC766

not disqualified in any manner from making a declaration under the Scheme with reference to the provision of Section 95 of Finance (No. 2) Act, 1998.'3. Petitioner's stand is that after acceptance of the declaration, the respondents were … of Kar Vivad Samadhan Scheme, 1998 (in short, the Scheme)(Chapter-IV OF Finance (No.2) Act, 1998 (in short, the Finance Act).2. After such declaration there was no scope for any demand as has been done. According to respondents, the … the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992.'6. The expression 'disputed tax' is defined in Section 87(f). Learned counsel for

Dinesh Nagindas Shah Vs. Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Acts : Wealth-tax Act, 1957 - Sections 5, 25 and 25(1)

Reported in : (2004)190CTR(Guj)106; [2005]273ITR229(Guj)

were under the belief that with effect from asst. yr. 1994-95, the amendment in the WT Act by Finance Act, 1992, granting exemption under Section 5(vi) was applicable only in respect of the residential house property and not in

National Dairy Development Board Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2000)75ITD447(Ahd.)

of the specific provisions of s. 2(ea)(i) introduced by the amendment to the definition of assets by the Finance Act, 1992 w.e.f. 1st April, 1993.5. Similarly for asst. yrs. 1994-95, 1995-96 and 1996-97, the AO passed an order under … of Parliament and as such the hostels cannot be subjected to wealth-tax as per the amended definition of section 2(ea)(i) which was introduced w.e.f. 1st April, 1993. The CWT(A) however, upheld the action of the AO and

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

Commissioner of Income Tax, Rajkot Vs. Shatrusailya Digvijaysingh Jade ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 87, 90, 95, 143(3), 246 and 264; Wealth Tax Act, 1957; Finance Act, 1998 - Sections 86 to 98

Reported in : AIR2005SC4000; (2005)197CTR(SC)590; 2005(192)ELT3(SC); [2005]277ITR435(SC); JT2005(8)SC50; (2005)7SCC294; 2005(2)LC1425(SC)

Kar Vivad Samadhan Scheme (for short 'the Scheme'). The said Scheme was contained in Chapter IV of the Finance Act and consisted of Sections 86 to 98 (both inclusive). The said scheme came into force w.e.f. 1.9.1998 in … on the ground that the assessments had become final in the year 1992-93 (when the assessee's appeals were dismissed for failure to pre-deposit self-assessed tax) … revisions filed by the assessee were time barred and as such they were not 'pending' in terms of Section 95(i)(c) of the said Scheme. 2. The undisputed facts which lie within a very narrow compass are as follows:In

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

Swam Mills Ltd., a Company Incorporated Under the Companies Act, 1956 ... Overruled

Court : Mumbai

Subject : Excise

Acts : Finance Act, 1998 - Section 89; Central Excise Act, 1944 - Section 11AA; Customs Act, 1962 - Section 142; Income Tax Act - Section 246, Income Tax Act - Section 245D(4), Income Tax Act - Section 260A, Income Tax Act - Section 264; Wealth Tax Act - Section 22D(4); Foreign Exchange Regulation Act, 1973 ;Narcotic Drugs and Psychotropic Substances Act, 1985; ; Terrorists and Disruptive Activities (Prevention) Act, 1987; ; Prevention of Corruption Act, 1988 ;Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Section 8, Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Section 9, Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Section 9(2), Conservation of Foreign Exchange and Prevention of Smu

operative from 1st September, 1998 to 31st January, 1999. The petitioners filed declaration under Section 89 of the Finance Act, 1998 before the Commissioner of Central Excise on 31st December, 1998.4. The aforesaid declaration filed by the petitioners … under sub-Section (2) of Section 3 of the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992 (27 of 1992).21. Section 95(i) is in respect of tax arrear under any direct tax enactment, while Section

Ms. Mina Fusade, Legal Heir of the Late Prince Sayajirao Gaekwar Vs. M ...

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 18(1); Finance Act, 1998 - Sections 87, 88, 90(1) and 95; Arbitration Act - Sections 17, 30 and 39(1); Limitation Act - Sections 5; Income Tax Act, 1961 - Sections 143(3) and 264; Constitution of India - Article 226; Code of Civil Procedure (CPC) , 1908 - Order 9, Rule 13

Reported in : (2005)107BOMLR1160; (2006)201CTR(Bom)207; [2006]285ITR229(Bom)

Commissioner of Income-tax, who is the designated authority under Section 87(b)(i) of the Finance (No. 2) Act, 1998 ('Finance Act' for short), vide order-cum-intimation dated 10th March, 1999 rejected the applications-cum-declarations made by the petitioner under KVS Scheme … the assessee therein, had preferred appeals to the Commissioner (Appeals). The appeals were, however, dismissed in the year 1992-93 as the appellants did not make pre-deposit and failed to pay self-assessed tax. The Finance Act introduced KVS … and contrary to the record.12. According to Mr. Joshi, disqualification under Section 95(i)(c) of the Finance Act applies only to the case where no appeal

Amit Hemendra Jhaveri Vs. Union of India

Court : Mumbai

Subject : Direct Taxation

for the Assessment Years 1994-95 and 1995-96, were pending before the Commissioner of Income Tax (Appeals). 4. The Finance Act, 1998 introduced the KVSS, 1998 with effect from 1 September, 1998 providing for settlement of tax disputes pending … under sub-section (2) of section 3 of the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992." Legal Position: 13. A challenge to a legislation on the touch stone of Article 14 of the Constitution