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Assam Leather Industry Vs. Union of India (Uoi) and ors.

Court : Guwahati

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 25, 28 and 31; Constitution of India - Articles 14, 248, 323A, 323B and 371A; Code of Civil Procedure (CPC) ; Transfer of Property Act; Nagaland Administration of Justice Rules, 1937 - Rule 33

funds being blocked. To remedy the locking up of huge funds, Dr. Manmohan Singh, the then Minister of Finance, introduced the Recovery of Debts Due to Banks and Financial Institutions Bill, 1993, dated the April 26, 1993, … raise the question of legality, validity and constitutionality of Recovery of Debts Due to Banks and Financial Institution Act, 1993 (hereinafter called 'the Act'), and other actions related to the Debt Recovery Tribunal at Guwahati constituted under the … validity of the Act was upheld.13. This Act is divided into six Chapters : Chapter I--Preliminary. Chapter II--Establishment of Tribunal and Appellate Tribunal. Chapter III--Jurisdiction,

Musthafa Ummer and anr. Vs. Appropriate Authority and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 269UC, 269UD and 269UD(1A); Constitution of India - Article 14

Reported in : (2002)173CTR(Ker)402; [2002]254ITR134(Ker)

reasons to be recorded in writing' which were there in the earlier Section 269UD were omitted by the Finance Act, 1993, with effect from November 17, 1992. At the same time Sub-section (1A) reads as follows :'(1A) Before making … the said decision for our purpose. The apex court was considering the validity of the various provisions in Chapter XX-C inserted in the Income-tax Act, 1961, by the Finance Act, 1986. While considering the scope of Section

M/s. Bharti Airtel Ltd. Vs. The Commissioner of Central Excise

Court : Mumbai

Subject : Service Tax

amount of Rs.2,04,39,093/- under provisions of Rule 14 of the Credit Rules read with Section 73 of the Finance Act,1994. In respect of towers and parts thereof, prefabricated building, printers and office chairs, the Commissioner observed that the … nor the use of said goods in providing output service. Subsequently, information about use of the goods and Chapter heading under the Central Excise tariff was called for from the appellant. The same was, thereafter, furnished by

Dwarkanath Chatterjee and ors. Vs. Union of India (Uoi) and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 269UC and 269UL

Reported in : (1995)127CTR(Cal)116,[1995]213ITR470(Cal)

269UC in respect of such property is received by the appropriate authority, .4. By an amendment of the Finance Act, 1993, a second proviso has been inserted by which the period of limitation has been increased from two months … to 5 to develop the said premises. By the Finance Act, 1986, with effect from October 1, 1986, Chapter XX-C consisting of Sections 269U to 269UO was inserted in the Income-tax Act, 1961, with the object of

Krishnagopal Nagpal Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (2004)82TTJ(Pune.)481

by the assessee, in the new property purchased or constructed by him. This condition was removed by the Finance Act, 1982 applicable from asst.yr. 1983-84. The circular of the Board relied upon by the learned counsel relates to … Madan Samant was appointed as a guardian of the assessee, who was then a minor. On 8th Sept., 1993, Shri Madan Samant in his capacity as legal guardian of Master Krishnagopal Nagpal entered into an agreement to … same could not be considered as undisclosed income of the appellant under Chapter XIV-B of the IT Act. 6. The appellant craves leave to add,

Narangs Hotels (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2000)74ITD190(Mum.)

The CIT referred to the definition of the term "industrial company" as defined in s. 2(6)(d) of the Finance Act, 1968, which, according to him, did not apply to the assessee's case.The CIT placed heavy reliance on the … aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VI-A of the IT Act) is not less than fifty-one per cent of such total income." 11. Referring

Khoday Industries Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (1994)51ITD18(Bang.)

[1978] 114 ITR 822 has held as follows: (iii) In defining 'industrial company' in Section 2(7)(d) of the Finance Act of 1966, Parliament has used the words 'mainly engaged in the business of. This does not mean that … aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VI-A of the Income-tax Act) is not less than fifty-one per cent of such total income; The position

Sterling Horticulture and Research Ltd. Vs. Appropriate Authority and ...

Court : Chennai

Subject : Direct Taxation

Reported in : (1997)140CTR(Mad)112

(1B) were inserted in S. 269UD of the Act, after this verdict of the apex Court, by the Finance Act, 1993 making it obligatory for the Appropriate Authority to give reasonable opportunity of being heard to the transferor, transferee, … market value was much higher than that stated in the agreement.23. Though market value is nowhere mentioned in Chapter XX-C and the power conferred on the Authority to order purchase of the property by Central Government is

infotech Enterprises Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2003)85ITD325(Hyd.)

which manufacture or produce any article or thing. This provision was introduced by the Finance Act, 1988. 3. Finance Act, 1993 extended the tax holiday under Section 10A to industrial units in approved Electronic Hardware Technology Parks (EHTPs) or … production in value terms made by the STP unit. 2.10 The provisions of paras 111 to 117 of Chapter IX of the Export and Import Policy (1992--97) applicable to export oriented units (EOUs) and units in Export

Mrs. Nirmal Laxminarayan Grover Vs. Appropriate Authority and ors.

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act 1961 - Sections 269UA, 269UB, 269UC, 269UC(1), (2) and (3), 269UD, 269UD(1), 269UE, 269UE(1), 269UF, 269UG, 269UG(1) and (2), 269UH , 269UH(1), 269UL, 269UL(1), and (3)

Reported in : [1997]223ITR572(Bom); 1995(2)MhLj775

sub-s. (1) of s. 269UD of the Act were as they stood prior to its amendment by the Finance Act, 1993, which introduced certain amendments in s. 269UD of the Act. By the said Finance Act, 1993, the words … s. 269UL(1) of the Act. 3. It is material to see that the Finance Act, 1986, has introduced Chapter XX-C in the Act providing for compulsory purchase by the Central Government of immovable properties in certain cases