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Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

of the Companies Act, 1956-namely (i) the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the Life Insurance Corporation of India and … relating to the impact of the provisions of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter called the RDB Act) on the provisions of the Companies Act, 1956. The immediate dispute before us … before us against an order passed by the learned Company Judge under Sections 442 and 537 of the Companies Act, (in a winding up petition

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 … of India (1992) 195 ITR 485 (All)Dy. CIT v. Galaxy Dyeing & Printing Mills (P) Ltd. (ITA No. 3331/Mum/1997, dt. 9th March, 2004). (ii) Subhash Gupta v. Dy. CIT (2003) 78 TTJ (ITAT) 692 : (2003) 85

Commissioner of Income-tax Vs. Sesa Goa Ltd.,

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A

Reported in : (2004)188CTR(Bom)120; [2004]266ITR126(Bom)

from June 1,1974, to May 31,1977. It is then pointed out that Section 32A was introduced by the Finance Act 1976, with effect from April 1,1976. If the language in Section 32A(2)(b)(iii) is considered along with the language … with effect from April 1,1976. If the language in Section 32A(2)(b)(iii) is considered along with the language in Section 33(1)(b)(B) and considering that mineral ore does not fall in the Eleventh Schedule, the intent of Parliament is clear,

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … was not affected by sections 320 FA 2004 and 107 FA 2007 (issues 20 and 21); and that section 33(2A) of the Taxes Management Act 1970 ("TMA") (issue 23), which excludes relief under that section where Case V

Deutsche Morgan Grenfell Group Plc (Respondents) Vs. Her Majesty's Com ...

Court : House of Lords

Subject : Land Acquisition

2003, this provision no longer applies to mistakes of law in tax cases: see section 320 of the Finance Act 2004.) DMG says that it did not discover its mistake until the ECJ gave judgment (after the commencement … pay ACT on three dividends paid to its German parent company between 1993 and 1996: in October 1993, February 1995 and January 1996. (No mention … tax unlawfully demanded which was established in the Woolwich case. The other is the statutory remedy provided by section 33 of the Taxes Management Act 1973: 33.--(1) If any person who has paid tax charged under an assessment

D. K. Abdul Khader and Others Vs. Union of India and Others[Overruled] Overruled

Court : Karnataka

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 1(4), 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 18, 19, 20, 21, 22, 23, 24, 25, 27, 28, 29, 30, 31, 32, 33, 34,35, 36 and 37 ; Constitution of India - Articles 14, 26, 31-A, 37, 39-A, 42, 43, 50,136, 227, 245, 246, 247, 248, 249, 323-B, 329 and 371-D; Debt Recovery Tribunal (Procedure for Appointment of Presiding Officer of Tribunal) Rules, 1998 - Rules 1, 2, 3, 4 and 5; Debt Recovery Appellate Tribunal (Procedure) Rules, 1994; Companies Act, 1956 - Sections 529-A; Indian Penal Code (IPC), 1860 - Sections 193 and 228; Code of Criminal Procedure (CrPC) , 1993 - Sections 195; Income-tax Act, 1961 - Sections 33(3); Income-tax (Certificate Proceedings) Rules, 1962; Industrial Finance Corporations Act, 1948; S

Reported in : ILR2001KAR1809; 2001(2)KarLJ534

shall be in addition to, and not in derogation of the Industrial Finance Corporations Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … case. The reliefs read as under.-(a) declare that the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the rules framed thereunder are void by reason of being violative of the Constitution of India and … shall be deemed to be public servants for the purpose of Section 21 of the Indian Penal Code. Section 33 of the Act provides for protection of action taken by the Central Government or by the Presiding Officer

Chhaganmal Golchha and anr. Vs. State of Assam and ors.

Court : Guwahati

Subject : Sales Tax/Vat

oil and refine oil.4. The petitioner-firm is a registered dealer under Assam Finance (Sales Tax) Act, 1956. After the Assam Finance (Sales Tax) Act, 1956, … 1956, had been repealed the petitioner-firm obtained its registration as a dealer unit under Assam General Sales Tax Act, 1993. The sale of mustard oil within the State of Assam was exempted from the tax upto 29.7.92 Under … way of grant of relief from any date before the appointed day;(4) Notwithstanding anything contained in Section 5, Section 33 and Sub-section (3) of Section 74, all proceedings for appeals pending before the Assam Board of Revenue, constituted

Commissioner of Income Tax Vs. Hydle Constructions Pvt. Ltd.

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 15C, 32A, 32A(2), 33(1), 33B, 80HH, 80HHA, 80HHA(1), 80J, 80J(4), 84, 84(2), 84(7), 256 and 256(1); Indian Companies Act; Finance Act, 1978 - Sections 2(7)

Reported in : [2003]259ITR344(Delhi)

the materials and also having regard to the Explanationn to the definition of'Industrial Company' as given in the Finance Act. (iii) The assessed company which is engaged in constructing tunnels, dams,Power Houses etc. in not eligible for deduction … 'manufacture or production' of articles within the meaning of Section 84(2)(iii) and was entitled to relief under the section.'33. In the instance case, the assessed does not claim benefit in respect of the entire profit earned by

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 … under Section 10B of the Act. Adverting to the reliance placed by the assessee on the Notification No. 33/(RE)/92-97 dt. 22nd March, 1994, issued by the Ministry of Commerce, New Delhi, he pointed out that even the

Commissioner of Income-tax Vs. Beco Engineering Co.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33(1), 33(2) and 34(3); Finance Act, 1990

Reported in : [1998]232ITR102(P& H)

. Interpreting Sections 33 and 34 read with the Explanation to Section 34, which was added by the Finance Act of 1966, it was held (page 197) :'Having considered the matter at some length in the present case,