Court : Gujarat
Reported in : [2007]136CompCas399(Guj); (2007)210CTR(Guj)445; [2007]290ITR643(Guj)
..... export import bank of india as per the court's order and that the claim of the department as per the provisions of the companies act, 1956 will be settled in ..... export import bank of india ..... that in fact, the income tax department ought not to have proceeded further with the assessment without the prior permission of the learned company judge as required under section 446 of the companies act and that when the company was already ordered to be wound up by order dated 15-1-2003 and the official liquidator was appointed as provisional liquidator of the company in liquidation, it is not known as to ..... in : [1975]101itr470(ap) and has submitted that as held by the andhra pradesh high court, the income tax liabilities of the company in liquidation is entitled to preferential treatment and under section 178 of the act, the official liquidator of a company under liquidation is under an obligation to set apart the entire income tax liabilities of the company, as notified by the income tax officer, before the distributing assets of the ..... it is also further submitted that in fact pursuant to the order passed by the learned company judge and on finalization of the sale in favour of one kanak, the purchaser was required to first deposit an amount of rs.10 crore towards the sale proceeds and the same was required to be paid to respondent no.2 in two installments of rs.5 crore, which respondent no.2 has already received and therefore, ..... 20-2-2004 specifying the schedule of payment of sale .....
Tag this Judgment!Court : Gujarat
Reported in : [2010]24STT121
..... made in the sez act, 2005 granting exemption from taxes and duties, which would otherwise have been leviable in the absence of any provision for exemption from such duties.36.6 section 7 of the act exempts goods or services exported out of or imported into or procured from the domestic tariff area by a unit or developer from the payment of taxes, duties or cess under the enactments specified in the first schedule.36.7 chapter vi of the act provides for special ..... champaneri has further submitted that section 53(1) provides that a special economic zone shall, on and from the appointed day, be deemed to be a territory outside the customs territory of india for the purposes of undertaking the authorized operations and sub-section (2) thereof provides that a special economic zone shall, with effect from such date as the central government may notify, be deemed to be a ..... and that he had been directed that the supplies of iron ore pellets and clo should be allowed into the sez provisionally upon the dta supplier executing a bond backed up by a bank guarantee (10 per cent of bond value) till the matter regarding leviability of the export duty on such dta supplies was resolved by the ministry. ..... is defined under section 2(zc) to mean a unit set up by an entrepreneur in a special economic zone and includes an existing unit, an offshore banking unit and a unit in an international financial services center, whether established before or established after the commencement of the act. .....
Tag this Judgment!Court : Gujarat
Reported in : 1982(10)ELT155(Guj)
..... on the same day another notification dated january 5, 1979 was issued in exercise of the powers conferred by sub-section (1) of section 25 of the customs act, 1962 exempting viscose staple fibre and viscose tow falling within chapter 56 of the first schedule to the customs tariff act, 1975, when imported into india, from so much of that portion of the additional duty leviable thereon under section 3 of the second mentioned act as is in excess of one rupee thirty two paise per kilogram. ..... of any article and the article is chargeable with duty under the provisions of the customs tariff act, then, upon the importation of any such article into india, whether the same is imported directly from the country of production or otherwise, and whether it is imported in the same condition as and when exported from the country of production has been changed in condition by manufacture or otherwise, the central government may, by notification in the official gazette, impose an additional duty equal ..... 12, except as otherwise provided in the customs act, or any other law for the time being in force, duties of customs shall be levied at such rates as may be specified under the indian tariff act, 1934, or any other law for the time being in force, on goods imported into, or exported from, india. ..... be pointed out that indian tariff act, 1934 was enacted to consolidate the law relating to customs duties on goods imported or exported by sea and to customs duties on goods imported or exported by land. .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1974Guj31; (1973)GLR10
..... by rule 2, it had provided that 'no person shall import forest produce into, export forest produce from, or move forest produce within, any of the areas specified in schedule 'a' unless such forest produce is accompanied by a permit ..... in the case of parliament for the purpose of dealing with situation arising out of scarcity of goods in any part of the territory of india and also in the case of a state under article 304(b) subject to the conditions mentioned therein, and (7) the state can impose a non-discriminatory tax on goods, imported from other states or the union territory to which similar goods manufactured or produced in that state are subject. ..... the constitutional validity of gujarat groundnut (transport control) order, 1964, made by the government of gujarat, under rule 125 of the defence of india rules, 1962, was challenged on the ground that it contravened article 301 and that it was not saved by article 302 of the constitution ..... when article 301 provides that trade shall be free throughout the territory of india primarily it is the movement part of the trade that it has in mind and the movement or the transport part of trade must be free subject of course to limitations and exceptions provided by the ..... for other purposes specified in the act because, firstly, the control order does not provide -for any of them and, secondly, because they are incapable of implementation at this stage unless the state government issues orders in respect of them under section 4 of the act. .....
Tag this Judgment!Court : Gujarat
Reported in : 1991(34)ECC64; 1991(54)ELT38(Guj); (1991)1GLR336
..... 'rate of duty of customs specified in the said first schedule read with any relevant notification of the government of india' would in the present case mean 60 per cent standard rate of duty of customs which is specified in item 28(16) in the first schedule and this is to be read with the relevant notification of the government of india which is at annexure 'a' which exempts phosphoric acid falling under this item when imported for manufacture of fertiliser from so much of that portion ..... 2 of the table; (2) separate meaning should be given to the expression 'goods in respect of which the rate of duty of customs specified in the said first schedule read with any relevant notification of the government of india for the time being in force', used in clauses 1 and 2 of the aforesaid table; and (3) even if explanation applies, there are two rates of duty - one 10 percent and another ..... the import of the goods into india, duties of customs as specified in the first and second schedules of the indian tariff act, 1934 ..... act, 1962 provides that except as otherwise provided in this act or any other law for the time being in force, duties of customs shall be levied at such rates as may be specified under the india tariff act, 1934 (at present it is amended as customs tariff act, 1985 with which we are not concerned) or any other law for the time being in force, on goods imported into, or exported from, india ..... order dated 10th august, 1981. ..... judgments were pronounced on 10th august, 1981. b. j. ..... 1981 .....
Tag this Judgment!Court : Gujarat
Reported in : (2004)2GLR1338
..... manner as may be prescribed,-(a) a duty of excise to be called the central value added tax (cenvat) on all excisable goods excluding goods produced or manufactured in special economic zones which are produced or manufactured in india as, and at the rates, set forth in the first schedule to the central excise tariff act, 1985 (5 of 1986);(b) a special duty of excise, in addition to the duty of excise specified in clause (a) above, on excisable goods excluding goods produced or manufactured in special economic zones specified in the second ..... trade zone or a special economic zone and brought to any other place in india; or(ii) by a hundred per cent export-oriented undertaking and brought to any other place in india,shall be an amount equal to the aggregate of the duties of customs which would be leviable under the customs act, 1962 (52 of 1962) or any other law for the time being force, on like goods produced or manufactured outside india if imported into india, and where the said duties of customs are chargeable by reference to their ..... however, when such units are not in a position to export the goods manufactured by them within the special economic zone from out of the raw materials imported without payment of customs duty, such units are required to take permission of the development commissioner of the special economic zone for sale of their finished products in domestic tariff area (dta) and such dta sales .....
Tag this Judgment!Court : Gujarat
Reported in : 1981(8)ELT134(Guj); (1980)2GLR625
..... urged on behalf of the petitioner company is that countervailing duty envisioned by section 2a of the tariff act is a duty of excise on goods manufactured or produced in india and falls within entry 84 of list i of schedule vii of the constitution of india and not a customs duty on goods imported into india falling within the scope of entry 83 of the said list as contended by the respondents. ..... the context of an entry in the state list empowering the state to levy countervailing duty can be of no avail to the petitioner having regard to the fact that insofar as the interpretation of the section 2a of the tariff act is concerned, the relevant expression has been clearly defined and the meaning and content of the expression 'countervailing duty' as employed in the said provision has been made explicit in the explanation. ..... kalyani stores (supra) the question arose in regard to the interpretation of entry 51 in list ii (state list) of the seventh schedule of the constitution of india which provides for levy of duty of excise on goods manufactured in the state and also for levy of countervailing duties in respect of ..... since we do not accept this first step in the argument, the rest of the argument cannot survive, for, unless the first premise is accepted, the argument cannot buttress the claim of ..... the customs act provides that customs duty shall be levied under the custom tariff act or any other law for the time being in force on the goods imported into, or exported from, india. .....
Tag this Judgment!Court : Gujarat
Reported in : 2002(82)ECC497; 2003(154)ELT37(Guj); (2002)2GLR1337
..... on 28-3-2001 the petitioners imported consignments of crude palm oil (non-edible grade) and crude palmolein and filed bills of entry for home consumption wherein the said goods were classified under chapter 15 of the first schedule to the customs tariff act, 1975 (hereinafter referred to as the 'tariff act') as falling under sub-heading no. ..... furthermore, depending upon whether the import is by an actual user manufacturer or trader security/ bank guarantee amounting to 25% or 100%, as the case may be, of the bond value shall be taken. mr. ..... 17 of 2001 dated 1-3-2001 and further cancel the bonds executed by the petitioners and release the bank guarantees furnished by the petitioners at the time of provisional release of the said goods.24. ..... the charge of customs duty is provided under section 12 of the act, which declares that duties of customs shall be levied on all goods imported into or exported from 'india. ..... 17 of 2001 dated 1-3-2001 and furthermore, cancel the bonds executed by the petitioners and release the bank guarantees furnished at the time of provisional release of the goods in question.2. ..... accordingly, by the said order provisional clearance was permitted on execution of bond for differential duty and bank guarantee equivalent to 10% of the differential duty. .....
Tag this Judgment!Court : Gujarat
Reported in : (1980)21GLR753
..... 3, the central government may, by notification in the official gazette, fix, for the purpose of levying the said duties, tariff values of any article enumerated, either specifically or under general headings, in the first schedule as chargeable with duty ad valorem and may alter any tariff values for the time being in force, and under sub-section (3) of section 3, different tariff values may be fixed for different classes or description of ..... act, there shall be levied and collected in such manner as may be prescribed duties of excise on all excisable goods other than salt which are produced or manufactured in india and a duty on salt manufactured in, or imported by land into, any part of india as, and at the rates, set forth in the first schedule ..... 9 provides that no excisable goods shall be removed from any place where they are produced, cured or manufactured or any premises appurtenant thereto, which may be specified by the collector in this behalf, whether for consumption, export or manufacture of any other commodity in or outside such place, until the excise duty leviable thereon has been paid at such place and in such manner as is prescribed in these rules or as the collector may ..... the amount of duty due on the goods and on production of evidence that this sum has been paid into the treasury or into to the account of the collector in the reserve bank of india or the state bank of india, or has been despatched to the treasury by money-order, shall allow the goods to be cleared. .....
Tag this Judgment!Court : Gujarat
Reported in : [2007]138CompCas204(Guj); [2007]79SCL47(Guj)
..... scheme of arrangement, the company has acted against the interest of the bank in compromising the bank's position with the custom authorities without giving true and proper disclosures to the court and in effect attempting to defraud public monies of the bank.6.1 it is also submitted by them that core has obtained revalidation for compliance of export obligation till 8th october, 2007 and the government of india, ministry of commerce has, ..... shall be recoverable from the borrower and the money which is received by the secured creditor shall, in the absence of any contract to the contrary, be held by him in trust, to be applied firstly, in payment of such costs, charges and expenses and secondly, in discharge of the dues of the secured creditor and the residue of the money so received shall be paid to the person entitled thereto ..... himself never thought that information about the pendency of the litigation between arvind mafatlal, director of the respondent-company and himself was so important that it was required to be brought to the voters' notice even though he had opportunity to do so by remaining personally ..... under clause 46 of the articles at table 'a', which is schedule i to the act, and which have been adopted by the applicant generally as its articles of association, subject to the provisions of sections 78 and 100 of the act, the petitioner-company is authorised to use its share premium account for the said purpose.2.16 accordingly, the board of directors of the petitioner-core .....
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