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Friends Overseas (P) Ltd. Vs. Dy. Cit

Court : Delhi

Subject : Direct Taxation

Reported in : (2001)73TTJ(Del)367

to various years covered by the block assessment. We find that second proviso to section 7(2) of the Finance Act, 1995, specifically provides that, 'the amount of income-tax computed in accordance with the provisions of section 112 or 113 … case of a domestic company by a surcharge as provided in Para E of Part III to First Schedule'. It is thus clear that the legislature clearly intended applicability of surcharge even on tax computed under section … Commissioner, Special Range 4, New Delhi for the block period ending on 17-11-1995. Although the assessed has listed as many as ten grounds of appeals

C.T. Cotton Yarn Ltd. Vs. Commissioner of Central Excise, Indore

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Tariff Act, 1985 - Sections 3, 3(1) and 11A; Finance Act, 1995

Reported in : 2006(202)ELT385(SC); JT2006(12)SC199; 2006(9)SCALE463; (2006)7SCC794

make the yarn for the purpose of export.4. On 16.3.1995, Finance Bill 1995 was introduced. In the First schedule to the Central Excise Tariff Act, 1985, a heading 52.02 was introduced covering cotton waste. The said Bill … after having been passed, received the assent of the President of India on 26.5.1995 and thus became the Finance Act, 1995. On 4.12.1995 the Department issued a notice to the appellant to show cause why duty on the quantity … Excise and Gold (Control) Appellate Tribunal, New Delhi in A. No. E/1715- 1716/97-D dated 19.07.2000. By the said order the Tribunal substantially dismissed the appeals

Merit Enterprises Vs. Dy. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2007)288ITR226(Hyd.)

to various years covered by the block assessment. We find that second proviso to Section 7(2) of the Finance Act, 1995, specifically provides that "the amount of income-tax computed in accordance with the provisions of Section 112 or 113 … mandated the levy of surcharge. In this context, he referred to the provisions of annual Finance Act, 1999, Schedule-I, which clearly mandated that the income-tax levied in terms of Section 113 shall be increased by a surcharge. … 1. This reference arises out of the appeal, against the assessment order passed

Scottish Widows plc (Appellant) Vs. Commissioners for Her Majesty's Re ...

Court : UK Supreme Court

Subject : MRTP

or section 83(3) of the Finance Act 1989, as substituted by paragraph 16 of Schedule 8 to the Finance Act 1995 and paragraph 4 of Schedule 31 to the Finance Act 1996. If it falls within the scope either … infrastructure assets and shares in seven subsidiaries and any joint venture companies (clause 15.1 and relevant definitions in Schedule 1). All other assets (other than pension assets as mentioned above) were to be allocated to the LTBF, which

Commissioner of Income-tax Vs. Oceanic Products Exporting Co.

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1966 - Sections 2(5); Industries (Development and Regulation) Act, 1951; Income Tax Act, 1961 - Sections 80HH and 80J

Reported in : 1996(54)ECC80; [1996]219ITR293(Ker)

in the circumstances of the case, the Tribunal was justified in granting relief under Section 2(5)(a)(ii) of the Finance Act, 1966, to the assessee ?'2. Income-tax Reference No. 553 of 1985 relates to the assessment year 1965-66 and … was made is a manufacturing process. The article made by the assessee is an item in the Fifth Schedule. In such cases, the word 'manufacture' has to be interpreted in the context in which it is used. … K.K. Usha, J. 1. At the instance of the Revenue, the Income-tax Appellate Tribunal has referred

Gem Granites Vs. Commissioner of Income-tax, Tamil Nadu

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80HHB(2), 80HHC and 80HHC(2); Finance Act, 1982 - Sections 89A and 89A(4); Finance (Amendment) Act, 1991

Reported in : (2004)192CTR(SC)481; [2004]271ITR322(SC); 2004(9)SCALE647; (2005)1SCC289

a reasoned judgment.8. Tax relief in respect of export turnover was granted for the first time by the Finance Act 1982 by the introduction of Section 89A in the Act. Section 89A provided for relief at a particular … granite'. The position was further clarified, according to the appellant, by a Circular issued by the CBDT in 1995 which while clarifying an earlier Circular dated 7.11.1984 stated that any process applied to granite would take it … and ores [(other than processed minerals and ores specified in the Twelfth Schedule......................... x) Cut and polished minerals and rocks including cut and polished granite)]'.4. … The appellant claims deduction under Section 80-HHC of the Income tax Act 1961 (hereinafter referred as 'the Act') in respect of profits from its export

Charak Pharmaceuticals (i) Ltd Vs. Union of India and ors.

Court : Delhi

Subject : Excise

Acts : Constitution of India - Article 226; Finance Act, 1962 - Sections 86 to 98

Reported in : 2000IIAD(Delhi)363; 2000(52)DRJ544; 2000(67)ECC749

'tax arrear' within the meaning of Section 87(m)(ii) of the Finance (No. 2) Act, 1998 (for short `the Finance Act'). 7. The petitioner filed an appeal against the order, dated 17th September, 1998, which is stated to be … dated 21st January 1999, pertaining to the additional excise duty demand (Rs.19,29,642/-) for the period from 1st September, 1995 to 31st January, 1998, filed by the petitioner under the provisions of the Kar Vivad Samadhan Scheme, 1998 … KVSS, consisting of Sections 86 to 98 (both inclusive) as also a Schedule with a view to provide a quick and voluntary settlement of tax … the legality and validity of : (i) a letter dated 9th March, 1999 issued by the Assistant Commissioner (T), Central Excise, Delhi - respondent No.

Premier Automobiles Ltd. Vs. Ito

Court : Mumbai

Subject : Direct Taxation

Reported in : [2003]129TAXMAN289(Bom)

the Revenue In the Bombay High Court S.H. Kapadia and J.P. Devadhar, JJ. - BOMBAY STAMP ACT, 1958. Schedule 1, Article 36: [Y.R. Meena, CJ & D.A. Mehta & A.S. Dave, JJ] Deed of Mortgage Liability to pay … 'slump sale' under section 2(42C) was not there as that definition came on the statute book only under Finance Act, 1999 with effect from 1-4-2000. The concept of slump sale initially was evolved under judge-made Law which has … of the Income Tax Act, 1961. The Appeal pertains to assessment year 1995-96.Facts2. Premier Auto Ltd. is a company registered under the Companies Act, 1956

Karnataka Woods and Plywoods Vs. Union of India (Uoi) and ors.

Court : Karnataka

Subject : Excise

Acts : Central Excises Act, 1944 - Sections 11A, 11A(2), 11AA, 11AB and 35L; Central Excise Tariff Act, 1985; Finance Act, 1995; Parent Act; Constitution of India - Articles 226, 227 and 265; Central Excise Rules, 1944 - Rule 173G and 173I

Reported in : 2009(171)LC1(Karnataka); 2009(4)KarLJ683

the assessee, the Legislature introduced the provisions of Section 11AA of the Central Excise Act by way of Finance Act, 1995 and with effect from 26-5-1995.Section 11AA reads as under:Section 11AA. Interest on delayed payment of duty.-(1) Subject to … but, the classification by the authority was as block boards dutiable under Entry 4408.90, Chapter 44 of the Schedule to the Central Excise Tariff Act, 1985.5. The assessee was not very happy with this classification and it

Commr.of Income Tax-i,new Delhi Vs. Vatika Township P.Ltd.

Court : Supreme Court of India

Subject : Land Acquisition

to the CIT, in view of the provisions of Section 113 of the Act as inserted by the Finance Act, 1995 and clarified by the Board Circular No.717 dated 14.08.1995, surcharge was leviable on the income assessed. According to … took note of Article 271 of the Constitution along with Entry 82 of List 1 of the Seventh Schedule to the Constitution of India and Section 4 of the Act which is the charging section. It held