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industrial Finance Corporation Ltd. Vs. Agra Construction Co. Ltd.

Court : Delhi

Subject : Constitution

Acts : Industrial Finance Corporation Act, 1948 - Sections 30

Reported in : AIR1997Delhi90; II(1996)BC554; [1997]89CompCas347(Delhi); 70(1997)DLT388; 1996(39)DRJ215

by this application has raised the question of jurisdiction of this Court in continuing with the proceedings under Section 30 of the Industrial Finance Corporation Actl948 (In short the Ifc Act) particularly after coming into force The Recovery … the Ifc Act) particularly after coming into force The Recovery of Debts Due to Banks and Financial Institutions Act,1993 (In short the Debt Recovery Act). The Debt Recovery Act came into force on 24th June,1993. thereforee, Mr.

Steel and Industrial Forgings Ltd. Vs. Deputy Commissioner of Income-t ...

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 29, 30 to 43D, 72, 143(1), 143(1A) and 260A; Finance Act, 1993

Reported in : [2009]318ITR18(Ker); [2009]184TAXMAN338(Ker)

reduced amount of loss by virtue of Clause (ii) of Section 143(1)(a) of the Act introduced by the Finance Act, 1993, with retrospective effect from April 1, 1989. It is against the demand of additional tax the assessee filed … that the income referred to in Section 28 shall be computed in accordance with the provisions contained in Section 30 to Section 43D of the Act. Depreciation is an allowance provided under Section 32 of the Act and,

Sunrise Biscuits Co. Ltd. and anr. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax

Government issued notification, on April 4, 1994 in exercise of the powers under Section 7 of the Bihar Finance Act, 1987 whereunder the old industrial units, which had started production prior to April 1, 1993, but whose investments … became entitled to receive, amongst others, exemption from sales tax, with effect from May 1, 1993 to April 30, 2000, on the sale of finished products as well as on the purchase of raw materials to be

Manjushree Extrusions Ltd. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax

Acts : Assam Sales Tax Act, 1993 - Sections 9 and 9(4); Constitution of India - Articles 14 and 19(1)

the date of issue of the certificate of authorisation. The refund shall be governed by the provision of Section 30 of the Assam General Sales Tax Act, 1993 and Rules made thereunder.(ii) During the period from or after … Products including Motor Spirit and Lubricants) Taxation Act, 1955 or the Assam Finance (Sales Tax) Act, 1956 in respect of its sales to the holder … the earlier scheme and the same is also contrary to the provision of the Assam General Sales Tax Act, 1993.4A. In deciding these cases for the purpose of convenience I shall hereinafter refer to the facts pleaded in

Mayflower Hotels (P) Ltd. Vs. State of Kerala and ors.

Court : Kerala

Subject : Municipal Tax

Acts : Kerala Finance Act, 1993; Kerala Building Tax Act, 1975 - Sections 3A, 3A(1) and 13(4); Punjab General Sales Tax Act, 1948 - Sections 6(2), 30, 30A and 31; Kerala Building Tax (Amendment) Rules, 1991; Kerala Building Tax Rules - Rule 11 and 11A

Reported in : 2008(1)KLJ394

in the rules in this behalf.The said provision was, however, deleted with effect from 1-3-1993 by the Kerala Finance Act, 1993 (Act 13 of 1993). The Rules came into force as the Kerala Building Tax (Amendment) Rules, 1991 with … the Kerala Building Tax Act has been notified on 06-11-1990. Department of Taxes will issue the notification under Section 3A of the Ordinance.Section 3A was inserted with effect from 6-11-1990. It reads as follows:3A. Power to make … This position would appear to have been reiterated by its Order dated 30-11-1990. Therein, it was stated as follows:The Ordinance amending the Kerala Building Tax

Madhukar Govindrao Thaware and ors. Vs. Central Bank of India

Court : Mumbai Nagpur

Subject : Limitation

Acts : Limitation Act - Section 5, 29 (2), 8, 3; Recovery of Debts Due to Banks and financial Institutions Act (RDDBFI) 1993- Section 30, 2(b) , 19, 20; Income Tax Act, 1961 - Rule 11, 15; Central Excise Act. 1944 - Section 35H(1); West Bengal Land Reforms Act, 1955 - Section 8 ; Finance Act, 1979 - Section 38 (1); Companies Act, 1956 - section 529A, 20 (3), 25 to 28, 30; Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act,; Non-Performing Assets Act (NPA) - Section 17(1); Code of Civil Procedure (CPC) - Order 21; Income Tax Act, 1961 - Section 260A; Excise Act - Section 35G; The Income-tax (Certificate Proceedings) Rules, 1962 - Rule 55A, 86 ; Debt Recovery Tribunal (Procedure) Rules - Rule 2

the order of Tax Recovery Officer whereas in the recovery of Debt Due to Banks And Financial Institutions Act 1993 Section 30 clearly provides for appeal to the Debt Recovery Tribunal against an order made by Recovery officer in exercising … with non- payment. Non-payment is nothing but failure to pay when due. As per the provisions of the Finance Act, 1979 amount of FTT collected becomes due within fifteen days from the date of collection thereof. Failure to

Geo Seafoods Vs. Additional Sales Tax Officer Iv and anr.

Court : Kerala

Subject : Sales Tax

Acts : Kerala General Sales Tax Act, 1963 - Sections 17 and 17(6); Finance Act, 1993; Kerala General Sales Tax Rules, 1963 - Rule 32(21)

Reported in : [2000]119STC236(Ker)

of the assessments, then the entire assessments will be bad and likely to be struck down. By the Finance Act, 1993, the Legislature amended Section 17 of the Act and included Section 17(6). under Section 17(6), the maximum period … Section 17(3) of the Act was issued. For the period 1975-76, the petitioner filed the return on April 30, 1976. Notice in form 50 was issued to the petitioner on September 3, 1976 posting the case for

Assistant Commissioner of Income Vs. Apsara Processors (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2005)92TTJ(Ahd.)645

looking to other provisions which are pari materia to levy of concealment penalty. Section 143(1A), before amendment by Finance Act, 1993 reads as under: "143(1A)(a) Where, in the case of any person, the total income, as a result of

Delhi High Court Bar Association and Another, Etc. Vs. Union of India ... Overruled

Court : Delhi

Subject : Banking

Acts : Constitution of India - Articles 14, 37, 42, 43, 50, 76, 123(3), 124 - 146, 136, 217(2), 226, 227, 233, 233(2), 264-231, 309, 311, 323A, 323B, 329-A, 245 and 248; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 1, 2, 3 and 19;Constitution of Tribunal outside - Sections 3, 6, 7, 8, 9, 10, 11, 12, 14, 15, 16, 17, 18, 19, 20, 21, 22, 25, 26, 27, 28, 30 and 31 - Articles 323A and 323B; Banking Regulation Act, 1949 - Sections 5 and 6; Companies Act, 1956 - Sections 4A; Indian Companies Act, 1913; Industrial Finance Corporation Act, 1948 - Sections 3; Industrial Development Bank of India Act, 1964 - Sections 3; Life Insurance Corporation Act, 1956 - Sections 3; Unit Trust of India Act, 1963 - Sections 3; Limitation Act, 1963 - Sections 24; Se

Reported in : 1995IAD(Delhi)1238; AIR1995Delhi323; II(1995)BC42; [1998]92CompCas849(Delhi)

5 July, 1994 issued by the Central Government in the Ministry of Finance, Department of Economic Affairs, Banking Division, whereby, under S. 3 of the … independence of judiciary is frowned upon by the Courts. Recovery of Debts due to Bank and Financial Institutions Act, 1993 Section l & 3--The provisions of the Act erode the independence of judiciary and are irrational, discriminatory, unreasonable and … Income-tax (Certificate Proceedings) Rules, 1962. For the word 'asscssee' the word 'defendant' is to be substituted.22. Then under Section 30, orders of theRecovery Officer are deemed to be the orders of the Tribunal and subject to appeal to

Tungabadra Sugar Works Mazdoor Sangh Represented by Its President Vs. ...

Court : Chennai

Subject : Company

Acts : Companies Act, 1956 - Sections 442, 446, 446(1), 456, 457, 529A, 530 and 537; Income Tax Act, 1961; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19(7), 19(19), 19(22), 25 to 30, 32, 34, 34(1) and 34(2); State Financial Corporations Act, 1951 - Sections 31 and 46B; Industrial Finance Corporation Act, 1948; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Income Tax Rules - Rules 38 and 52(2); Companies (Court) Rules, 1959 - Rules 9 and 117; Recovery of Debts Due to Banks and Financial Institutions Rules; Constitution of India - Articles 136, 226 and 227

Reported in : (2009)8MLJ15

Act or the rules made thereunder shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 (63 of 1951), the Unit Trust … has to get guided by the provisions made under Section 29 as well as Section 19(19) of RDDB Act, 1993. Also the guidelines laid down by the Hon'ble Supreme Court of India in Civil Appeal No. 2536 of … of December 1999 for the non-payment of the security charges; that on 30.7.2001, a meeting was conducted, and it was decided to appoint M/s. Tungabadra