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Krishna Lifestyle Technologies Ltd. Vs. Union of India (Uoi) Through t ...

Court : Mumbai

Subject : Excise

Acts : Customs Act, 1962 - Sections 142; Central Excise Act, 1944 - Sections 11; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2005 - Sections 13(6) and 35; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002; Finance Act, 2004 - Sections 11; Central Boards of Revenue Act, 1963 - Sections 11D; Customs Act, 1862; Karnataka Land Revenue Act - Sections 158 and 190; Contract Act - Sections 176; Central Sales Tax Act - Sections 9; Transfer of Property Act, 1882 - Sections 100; State Financial Corporation Act, 1951 - Sections 29 and 29(2); Karnataka Sales Tax Act - Sections 15; State Corporation Act, 1951 - Sections 25; Income Tax Act - Sections 2(13); Bombay Sales Tax Act, 1959 - Se

Reported in : (2008)110BOMLR456; 2008BusLR314(Bom); 2008(125)ECC208; 2008(151)LC208(Bombay); 2008(229)ELT173(Bom); 2009[16]STR669

issues, it would be necessary to reproduce Section 11 along with the proviso which was inserted by the Finance Act No. 2 of 2004 to the Central Excise Act, 1944 and which reads as under:11. Recovery of sums … takes place under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 4. Does the mere purchase of the immovable/movable assets of a tax defaulter amount to transfer or disposal … the facts and circumstances of each case.Yet another aspect which we have to consider is the effect of Section 35 of the SARFAESI Act which reads as under:The provisions of this Act shall have effect, notwithstanding anything inconsistent

K.R. Palanisamy and ors. Vs. Union of India (Uoi) and ors.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 10, 44BBB, 44AC, 44AD, 45, 48, 50(2), 50C, 50C(2), 50C(3), 52(2), 53, 54, 54B, 54E, 54EA, 54EB, 54F, 54G, 54H and 206C; Finance Act, 2002; Stamp Act, 1899 - Sections 47A, 47A(1), 47A(5), 47A(10) and 75; Wealth Tax Act, 1957 - Sections 2, 16A(1), 16A(2), 16A(3), 16A(4), 16A(5), 16A(6), 23A, 23A(1), 23A(6), 23A(7), 24(5), 34AA, 35 and 37; Registration Act, 1908; Stamp (Tamil Nadu Amendment) Act, 1967; Rajasthan Sales-tax Act - Sections 4A; Constitution of India - Articles 14, 246 and 265; Tamil Nadu Stamp (Prevention of Undervaluation of Instruments) Rules, 1968 - Rules 4 and 5

Reported in : (2008)219CTR(Mad)323; [2008]306ITR61(Mad); [2009]180TAXMAN253(Mad)

J.1. In all these cases, the constitutional validity of Section 50C of the IT Act, 1961 introduced by Finance Act, 2002 with effect from the asst. yr. 2003-04 is questioned.2. The grounds of attack and argument made for and … of Sub-section (1) and Sub-sections (6) and (7) of Section 23A, Sub-section (5) of Section 24, Section 34AA, Section 35 and Section 37 of the WT Act, 1957 (27 of 1957), shall, with necessary modifications, apply in relation

Commissioner of Income Tax, Rajkot Vs. Gujarat Siddhi Cement Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32A, 33, 35(1), 35A, 36(1), 41(1), 43, 43A, 43A(1), 43A(2), 48, 50 and 260A; Finance Act, 2002; Finance Act, 1967 - Sections 43A; Direct Tax Laws (Amendment) Act, 1987; Foreign Exchange Regulation Act, 1947 - Sections 2

Reported in : (2008)220CTR(SC)217; [2008]307ITR393(SC); 2008(13)SCALE742

Section 33. It is to be noted that Section 43A in the present form was substituted by the Finance Act, 2002 w.e.f. 1.4.2003. Prior to its substitution Section 43A as inserted by the Finance Act, 1967 w.e.f. 1.4.67 and … or the amount of expenditure of a capital nature referred to in Clause (iv) of Sub-section (1) of Section 35 or in Section 35A or in Clause (ix) of Sub-section (1) of Section 36, or, in the case

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

Court : Chennai

Subject : Land Acquisition

High Court went to the extent of holding that in the light of Section 35 of the Securitisation Act, 2002, Section 22 of SICA does not survive anymore. (vi) In Nabha Industries Ltd vs. Punjab State Industrial Development Corporation … after independence. But, even at that 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 Corporations are also required to follow

Dharmodayam Company Vs. Union of India (Uoi)

Court : Kerala

Subject : Civil

Acts : Kerala Chitties Act, 1975 - Sections 2(4), 3, 3(1), 3(2), 4, 4(1), 5, 6, 6(3), 11, 12, 13, 14, 15, 17, 18, 19, 21, 22, 23, 24, 25, 26, 29, 34, 35, 39, 40, 42, 43, 55, 56, 59, 60, 67, 72, 89 and 220; Kerala Finance Act, 2002; Chit Funds Act, 1982 - Sections 1(3), 2, 4(1), 7(3), 8, 9(1), 20 and 90; Constitution of India - Articles 14, 19(1), 226, 245 to 255; Companies Act; Finance Act, 2002 - Sections 3(5) and 4; Kerala Chittis (Amendment) Act, 2002

Reported in : AIR2005Ker253; [2005]126CompCas586(Ker); 2005(3)KLT332

constitutional validity of Sub-section 1(a) to Section 4 of the Kerala Chitties Act, 1975 introduced by the Kerala Finance Act, 2002 (Act 7 of 2002) with effect from 1.4.2002 as beyond the legislative competence of the State Legislature and … with transfer of rights by Foreman etc. Section 34 deals with meetings of the general body of subscribers. Section 35 to 39 deal with termination of chitties. Section 40 to 42 deal with inspection of documents by subscribers

Archana Spinners Ltd. Vs. Board for Industrial and Financial Reconstru ...

Court : Chennai

Subject : Company

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 5(1), 13, 13(1), 13(2), 13(3), 13(4), 17, 17(1), 17(2), 32, 35 and 41; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 3(1), 15, 15(1), 17, 18, 19, 19(1), 19(2), 19(3) and 19(4); Companies Act; State Financial Corporations Act, 1951 - Sections 29 and 46; Foreign Exchange Regulations Act; Transfer of Property Act, 1882 - Sections 69 and 69A; Prevention of Food Adulteration Act, 1954; Constitution of India - Article 226

Reported in : [2009]147CompCas387(Mad); [2007]76SCL280(Mad)

respondent-BIFR even on 19-7-2005 stating that the reference before the BIFR has abated.28. He would also submit that Section 35 of the SARFAESI Act, 2002 gives overriding effect to the said Act notwithstanding any inconsistency with any other … Limited dated 30-6-2005 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and praying for a … dated 30-6-2005 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and praying for a declaration that i he action of the second and third respondents namely the Tamil

Commissioner of Income Tax, Delhi Vs. Woodward Governor India P. Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 29, 30 to 43D, 48, 50, 56, 143, 143(1), 143(2), 144, 145, 145(1), 145(2) and 145(3); Finance Act, 2002; Companies Act - Sections 209; Finance Act, 1967

Reported in : (2009)223CTR(SC)1; [2009]312ITR254(SC); JT2009(5)SC378; 2009(5)SCALE198; (2009)13SCC1; [2009]179TAXMAN326(SC); 2009(3)LC1519(SC); [2009] 5 SCR 738

Counsel next contended that on a proper and true interpretation of the amendment to Section 43A, introduced by Finance Act, 2002, Section 43A is clarificatory. According to the learned Counsel, the occasion for the clarificatory amendment arose in view of … or the amount of expenditure of a capital nature referred to in Clause (iv) of Sub-section (1) of Section 35 or in Section 35A or in Clause (ix) of Sub-section (1) of Section 36, or, in the case

D.R. Industries Ltd. and anr. Vs. Union of India (Uoi) and 3 ors.

Court : Gujarat

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 11AB, 11AC, 35, 35(1), 35B(1), 35B(5), 35A(4A) and 35E(3); Excise Act, 1980; Finance Act, 1980; Finance Act, 2001; Limitation Act, 1963 - Sections 4 to 24 and 29(2); Finance Act, 2007; Central Excise Rules, 1944 - Rule 173Q(1); Andhra Pradesh Administrative Tribunal (Procedure) Rules, 1989 - Rule 17 and 17(2); Constitution of India - Articles 14 and 226

Reported in : 2008(127)ECC61; 2008(153)LC61(Gujarat); 2008(229)ELT24(Guj)

the date of communication of the order without any reference either way regarding power to condone delay. By Finance Act, 1980, the Parliament accepted the public demand for setting up of an independent Appellate Tribunal for Customs and … handed over by the Superintendent, Central Excise to their consultant in July, 2002, the same was not handed over to the petitioner and that the … M.S. Shah, J.1. All these petitions challenge the constitutional validity of the proviso to Sub-section (1) of Section 35 of the Central Excise Act, 1944 ('the Act' for short) in so far as it provides that the

Akanksha International Through Its Proprietor Mrs. Anju Suryaprakash D ...

Court : Mumbai

Subject : Electricity

Acts : Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 5, 13, 13(2), 13(4) and 35; Electricity Act, 2002; Electricity Act, 2003 - Sections 43 and 50; Electricity Act, 1910; Electricity (Supply) Act, 1948; State Financial Corporation Act, 1951 - Sections 32G; Bombay Sales Tax Act, 1959 - Sections 39; Debt Recovery Act; Contract Act; Coal Mines (Nationalisation) Act, 1973; Maharashtra Land Revenue Code - Sections 169; Maharashtra Electricity Regulatory Commission (Electricity Supply Code and Other Conditions of Supply) Regulations, 2005 - Regulation 10.5

Reported in : 2007(6)ALLMR611; 2007(5)BomCR481; (2007)109BOMLR1959; 2008(1)MhLj753

under the Contract Act and does not create any charge on property under the Securitisation Act, 2002. Hence Section 35 of the Securitisation Act, 2002 does not override the provisions of Section 38 of the Bombay Sales Tax … by the respondent that the sale certificate issued by M/s Usha Martin Finance Limited constituted Attorney of Asset Reconstruction Company India Limited (ARCIL) has been … secured creditor under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as, 'the Securitisation Act, 2002'), for direction to the respondent Electricity Distribution Company to consider

Addl. Cit Vs. Kwality Frozen Foods Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Service Tax

Reported in : (2005)1SOT243(Mum.)

retrospective in operation. The term "trademark" has been brought in section 55(2) by the Finance Act, 2001 through section 35 thereof.Section 32 of the Finance Act, 2001 reads as follows: "....Amendment of section 55.In section 55 of the … sale of trademark as such was brought into the provisions of section 55(2) through the amendment by the Finance Act, 2001. The said amendment brought in by the Finance Act, 2001 is effective only from assessment year 2002-03.