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Commissioner of Income Tax Vs. Zam Zam Tanners

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961- Sections 2(24), 17, 28, 41, 44, 45, 59, 80HHC, 139(1), 139(3), 143(1A), 143, 144, 147, 160(1), 256(2), 271, 271(1) and 280D; ;Taxation Laws (Amendment) Act, 1975; ;Finance Act, 2002 - Sections 271(1); ;Finance Act, 1993 - Sections 143(1A); ;Constitution of India - Article 141

Reported in : (2005)197CTR(All)221; [2005]279ITR197(All)

of India.15. It may also be useful to consider the provisions of Section 143(1A) before the amendment by Finance Act, 1993, which reads as follows :'Where, in the case of any person, the total income, as a result of … by the beneficiary.(v) any sum chargeable to income tax under Clauses (ii) and (iii) of Section 28 or Section 41 or Section 59;(va) the value of any benefit or perquisite taxable under Clause (iv) of Section 28;(vi) any

Salem Textiles Limited Vs. Authorized Officer of Phoenix Arc Private L ...

Court : Chennai

Subject : Land Acquisition

due as on 31.1.2001, under Section 19 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993, hereinafter referred to the RDDB Act, for the sake of convenience. (x) Since neither the proceedings before the … (Regulation) Act, 1956, and (iii) The Sick Industrial Companies (Special Provisions) Act, 1985. It is, by virtue of Section 41 of the Securitisation Act, 2002, read with the Schedule thereto that two provisos were inserted under the already … time, the Parliament was conscious of the fact that recovery of amounts financed by State Financial Corporations to industries, may pose difficulties, if the Financial

Mechfield Industries Vs. Commissioner of Taxes and ors.

Court : Guwahati

Subject : Sales Tax

Acts : Assam Sales Tax Act, 1947; Assam Finance (Sales Tax) Act, 1956 - Sections 9(3), 11 and 12; Assam General Sales Tax Act, 1993 - Sections 10, 36, 40 and 41; Assam Sales Tax Rules, 1947 - Rules 3(1), 36, 61 and 62; Constitution of India - Article 226

a registered dealer under the Assam Sales Tax Act, 1947 and Assam Finance (Sales Tax) Act, 1956. For the periods ending September 30, 1981, March … 1, 1997To M/s. Mechfield Industries, Paltanbazar, Guwahati. Sub: Notice Under Section 36 of the Assam General Sales Tax Act, 1993 for the periods ending September 30, 1981, March 31, 1982, September 30, 1982, March 31, 1983 and September … Mr. Mahanta, learned Counsel has submitted that in an exceptional case or circumstance, the period of limitation Under Section 41 of the aforesaid Act can be extended. But we find no such provisions under the Act. On the

Kiran Corpn. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)98ITD119(Ahd.)

mistakes committed by the taxpayers in their returns of income or loss.13. Sub-section (1A) was amended by the Finance Act, 1993, with retrospective effect from 1-4-1989, which was the date upon which Sub-section (1A) had been introduced into the

Kiran Corporation Vs. the Asstt. C.i.T.

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (2006)102TTJ(Ahd.)375

mistakes committed by the taxpayers in their returns of income or loss.13. Sub-section (1A) was amended by the Finance Act, 1993, with retrospective effect from April 1, 1989, which was the date upon which sub-section (1A) had been introduced

Deputy Commissioner of Income Tax Vs. Verifone Software Systems (P)

Court : Income Tax Appellate Tribunal ITAT

Subject : Direct Taxation

Reported in : (2003)84ITD521(Bang.)

amendment of Section 28 by Finance Act, 1990 vis-a-vis Section 143(1A) and not retrospectively made amendment by the Finance Act, 1993, to Section 143(1A).4. According to him, the facts of the case before the Supreme Court are distinguishable from … leviable on the cash compensatory support if the Finance Act, 1990, had not so provided even though retrospectively." 41. As already mentioned by us in the preceding paragraphs, the case before the Hon'ble Supreme Court, because of

Arun Kumar Agrawal and Another Vs. State of Karnataka and Others Overruled

Court : Karnataka

Subject : Constitution

Acts : Constitution of India - Articles 32 and 226; Code of Criminal Procedure (CrPC) , 1973 - Sections 2, 5-A, 8(1), 41(1), 77, 154, 155, 156, 157, 190, 195 to 199 and 225; Prevention of Corruption Act, 1947; Foreign Exchange Regulation Act, 1973 - Sections 8, 9 and 61; Indian Companies Act, 1956 - Sections 209, 224(8) and 621; Code of Civil Procedure (CPC), 1908 - Sections 151 - Order 1, Rule 10; Sea Customs Act, 1878 - Sections 187-A; Gold Control Act, 1968 - Sections 97; Import and Export Control Act, 1947 - Sections 6; Income-tax Act, 1961 - Sections 271 and 279; Electricity Supply Act, 1948 - Sections 2(2), 4(A), 3, 15(A), 18(A), 28, 30, 31, 43-A and 77; Code of Criminal Procedure (CrPC) , 1861 - Sections 139; Indian Penal Code (IPC), 1860 - Sections 120-B, 406, 408, 409,

Reported in : 1999(1)KarLJ603

Industry, Department of Industrial Development, vide its letter dated 11th of May, 1993 (Annexure-B) conveyed the Central Government's approval regarding their proposal to set up … the law and to the law alone' '. 41. Pointing out to the extent of powers in … conditions specified therein.8. The estimated cost of the project was 580 Million US Dollars, which was to be financed as follows:Total cost of US $ 530m for Block A (estimated) would be financed approximately as follows: Foreign … consolidate and amend the laws relating to prevention of corruption and matters connected thereto, the Prevention of Corruption Act, 1947 was enacted which was amended from time to time. In the year 1988 a new Act on … and maintained the facility in accordance with the procedures developed pursuant to Section 4.4 of the agreement and prudent operating practices. The respondent 3-Company was

Larsen and Toubro Limited Vs. State of Jharkhand and ors.

Court : Jharkhand

Subject : ConstitutionCivil

Acts : Code of Civil Procedure (CPC) , 1908 - Sections 11; Bihar Finance Act, 1981 - Sections 25A; Constitution of India - Article 366(29A); Finance Act, 1987; Jharkhand Finance Act, 2001 - Sections 25A(1)

Reported in : [2004(3)JCR455(Jhr)]; [2005]140STC134(Jharkh)

P.K. Balasubramanyan, C.J.1. Section 25-A of the Bihar Finance Act, 1981 has been the subject matter of controversy. The section provides for advance recovery of tax payable under … We may also notice that there is a challenge to the notification dated 19.6.1993 issued in the year 1993, which has been adapted or which is to be deemed to be valid, by virtue of Section 85 … sale. The Patna High Court in the decision reported in 117 STC 41, upheld the challenge of the petitioner. Of course, the extent to which

Rajshree Sugars and Chemicals Limited Rep. by Its Director and Chief O ...

Court : Chennai

Subject : CommercialContract

Acts : Contract Act, 1872 - Sections 23, 24, 30 and 31; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 2, 17, 18 and 19(6) to 19(11); Specific Relief Act, 1963 - Sections 3, 37 and 41; Banking Regulation Act, 1949 - Sections 6(1), 6(2) and 35A; Specific Relief Act, 1887 - Sections 41 and 56; SARFAESI Act; Gaming Act, 1845 - Sections 18; Gaming (Amendment) Act, 1892; Bombay Forward Contracts Control Act; Forward Contracts (Regulation) Act, 1952; Securities Contracts (Regulation) Act, 1956 - Sections 2 and 18A; Reserve Bank of India Act, 1934; Foreign Exchange Regulation Act, 1973 - Sections 73(3); Foreign Exchange Management Act, 1999 - Sections 47(2); Reserve Bank of India (Amendment) Act, 2006 - Sections 45U, 45V, 45V(1), 45V(2), 45W and 45X; Civil Proc

Reported in : 2008BusLR908; 2009(1)CTC227; (2008)8MLJ261

of the derivatives bubble' presented the worst case scenario. 4. True to the above criticism, the world of finance and investments, was swept by many a tsunami in the past decade and a half. Some of the … view of the provisions of Section 18 of The Recovery of Debts Due to Banks and Financial Institutions Act, 1993; (b) that no injunctive relief of the nature prayed for, can be granted in view of Section 41(b)

M/S Madras Petrochem Ltd. and Anr. Vs. Bifr and Ors.

Court : Supreme Court of India

Subject : Company

and Financial Institutions Act, 1993 (51 of 1993) or any other law for the time being in force. Section 41. Amendments of certain enactments The enactments specified in the Schedule shall be amended in the manner specified therein.” … 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 … company owning an industrial undertaking with another company. The Recovery Of Debts Due To Banks And Financial Institutions Act, 1993 Section 17. Jurisdiction, powers and authority of Tribunals. (1) A Tribunal shall exercise, on and from the appointed day,