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Lloyds Insulations (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)80ITD465(Delhi)

..... to appreciate the same, it would be useful to quote the provisions of section 80 of finance act, 1965, as under : "80(1) when goods of the description mentioned in this section chargeable with a duty of excise under the central excise act (as amended by this act or any subsequent act of parliament) read with any notification for the time being in force issued by the central government in relation to the duty so chargeable, are assessed to duty, there shall be levied and collected- (a) as respects goods comprised in item ..... regarding the supreme court judgment, it was submitted by him that provisions of section 80 of finance act, 1965, and provisions of section 40 of finance act, 1983, are differently worded by the legislature and, therefore, the said judgment is distinguishable. 5. ..... v.director of inspection, customs & centra; excise (1985) 153 itr 322 (sc), wherein it has been held that levy of such excise duty under section 80 of finance act, 1965, was different from the levy of excise duty under central excises and salt act, 1944 fin short excise act) and, therefore, assessee was not entitled to tax credit certificate under section 280zd of 1961act with reference to such excise duty. .....

Monie Ardeshir Baria and Piloo F. Antia, Executrices of the Estate of ...

Court : Mumbai

Reported in : [1977]106ITR203(Bom)

..... that the second proviso to section 10 and the proviso to section 22 had been added to the original provisions of the estate duty act, 1953, by the same amending act of 1965 (finance act of 1965 ..... 10. further - and this appears to be somewhat important - when the amendment of 1889 was made and phraseology similar to that employed by section 10 of the said act engrafted upon the original provision in section 38(2)(a), amendment provided that the description of property already to be found in section 38(2)(a) was to include property taken under any gift, of which property bona fide possession and enjoyment were not assumed by the donee immediately upon the gift and thenceforward retained to the entire ..... q. 5 - section 10 does not apply to a disposition made without consideration by way of trust except in the case of a trust falling under section 27 as amended by act 33 of 1958, which amended came into force from 1st july, ..... was observed by the division bench of the kerala high court at page 750 of the report as follows : 'in section 34(4), (section 6(5) of the british finance act of 1894), the word used is 'accrued ..... iii. section 10 does not apply to disposition made without consideration by way of trust, except in the case of trusts falling under section 27 as amended by act 33 of 1958 as from 1st july ..... 1889. it may be noted further that under section 2 of the finance act, 1894, property passing on the death of the deceased was declared to be deemed to include various types of .....

Commissioner of Wealth-tax Vs. Lalchand Singhai

Court : Madhya Pradesh

Reported in : (1981)25CTR(MP)123; [1983]140ITR314(MP); 1981MPLJ354

..... , there could be no debate on the question that the word 'jewellery' at least covers precious stones and ornaments containing precious stones, and if assets of this nature were excluded in an assessment made before the enactment of the finance act, it would become apparently erroneous in view of the retrospective amendment in section 5(1)(viii) and would be open to rectification under section 35.9. ..... section 5(1)(viii) as amended by the finance act and the explanation added by that act were considered by this court in cwt v. ..... it was next contended by the learned counsel for the assessee that the meaning of jewellery in the expression 'but not including jewellery' as inserted in section 5(1)(viii) by the finance act is itself ambiguous and as the scope of the amendment is debatable, the wto had no jurisdiction to rectify the assessment under section 35. ..... it would be seen that on 22nd march, 1971, when the aac allowed the exemption in respect of jewellery intended for personal use, the words 'but not including jewellery' were not in section 5(1)(viii) and the order passed was correct in law as it was in line with the decision of the supreme court in arundhati balkrishna's case : [1970]77itr505(sc) . ..... the inevitable consequence of giving effect to this fiction is that the assessee wasnot entitled to an exemption in the assessment year 1965-66, in respect of jewellery under section 5(1)(viii). ..... the relevant assessment year is 1965-66, the valuation date being 31st march, 1965. .....

B Govindaraj Hegde, 53 Yrs Vs. State of Karnataka - By Its Prl. Secret ...

Court : Karnataka

..... 3 the relevant final notification published on 9.6.2014 is quoted in extenso for ready reference: finance secretariat notification no.fd14pes2013 bangalore, dated:09.06.2014 whereas the draft of the following rules further to amend the karnataka excise (sale of indian and foreign liquor) rules, 1968, was published as required by sub-section (1) of section 71 of the karnataka excise act, 1965 (karnataka act 21 of 1966) in notification no.fd14pes2013dated 20-01-2014 in part-iv-a of the karnataka gazette (extra ordinary) no.fd41dated 20-01-2014 inviting objections and suggestions from ..... now, therefore, in exercise of the powers conferred by section 71 of the karnataka excise act, 1965 (karnataka act 21 of 1966), the government of karnataka hereby makes the following rules, namely:- and whereas the said gazette was made available to the ..... . the amendment in the rules is in conflict with the existing rules and regulatory provisions enacted in the karnataka excise act, 1965 and other subordinate rules like r5and 12 of the ..... ) 8 scc519dealing with the right of dance performers in hotels and bars which was banned by rules amended by the bombay police act, 1951 and such an amendment of s.33 a and b effected by the amendment act of 2005 was struck down by the hon ble supreme court with the following relevant observations:108. ..... the license shall be bound by the provisions of the karnataka excise act, 1965, and any general specific rules prescribed or which may from time to time be prescribed .....

Yagyawati Jayswal Family Trust Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD199Cal

..... subsequently, it was discovered by the ao that section 27(iii) of the act had been amended by the finance act, 1987 with effect from 1-4-88 and the transactions covered under section 269ua incorporated with effect from 1-10-86 by the finance act, 1986 had been made applicable and that by virtue of the said amended provisions the income of the assessee was to be assessed under the head 'income from ..... there was, however, an amendment in section 27(iii) of the income-tax act, 1961 by the finance act, 1937 with effect from 1-4-88 by virtue of which clause (iiia) and clause (iiib) ..... year 1965-66 onwards disclosing income under the head 'income from other sources' and that the revenue had also been assessing the said income under the same head, in the light of amendment in sections 27(iiib) and 269ua(f), are of ..... he also contended that there was no change in facts right from the year 1965, and the revenue has consistently accepted the assessable source of income under the head 'income from ..... jayaswal & ors (huf) in respect of property situated at p-117 lake terace, kolkata for a period of 21 years commencing from 1st day of january 1965, at a monthly lease rent of rs. ..... had been made by the revenue authorities on the basis of the law prevailing in the assessment years 1965-66 to 1988-89. ..... the settled law that the income derived by the assessee from sub-letting of the immovable property was assessed under the head 'income from other sources' right from the assessment year 1965-66 onwards. .....

Delhi Cloth and General Mills Co. Ltd. and ors. Vs. Union of India (Uo ...

Court : Supreme Court of India

Reported in : AIR1983SC937; [1983]54CompCas674(SC); (1983)2CompLJ281(SC); 1983(2)SCALE16; (1983)4SCC166; [1983]3SCR438

..... to the enactment of companies (amendment) act, 1965 which vastly increased the governmental ..... deposit account with any scheduled bank, free from charge or lien; (b) in unencumbered securities of the central government or of any state government; (c) in unencumbered securities mentioned in clauses (a) to (d) and (ee) of section 20 of the indian trusts act, 1882(2 of 1882).provided that with relation to the deposits maturing during the year ending on the 31st day of march, 1979, the sum required to be deposited or invested under this sub-rule shall be ..... imposes a restriction on the fundamental freedom to carry on trade or business, the same is reasonable because it is of a regulatory nature enacted with a view to protecting depositors coming from a socially and economically weaker section who may be tempted by the alluring promises made in an advertisement inviting deposits with no umbrella of protection when the company folds up its tent; becomes sick and in winding-up, the depositor has to stand in a queue ..... becoming sick after incurring huge debts, rendering small investors destitutes, heaping miseries on the weaker sections of the society and therefore if by a measure a company which is permitted to attract deposits from the public generally described as gullible simultaneously, an obligation is imposed to keep an infinitesimally small portion of assets as liquid finance available for meeting the obligations, namely repayment of deposits maturing in a given year, it .....

Orient Paper Mills Limited Vs. Deputy Director of Inspection, Customs ...

Court : Delhi

Reported in : 21(1982)DLT99; 1982(10)ELT247(Del)

..... the special duty of excise imposed on certain goods by section 80 of the finance act 10 of 1965 was a distinct duty imposed or was in the nature of a surcharge on excise duty livable under the central excises and salt act, 1944. 2. ..... is urged that in computation of the amount for grant of tax credit certificate while considering the total excise duty the special excise duty levied under section 80 of the finance act, 1965 should also be taken into account and not merely the duty levied under the excise act. ..... ' section 80 of the finance act, 1965 reads as under :- ..... on the question as to whether the special duty imposed by the finance act 10 of 1965 was excise duty, the learned judge has followed a bench decision of this court in the associated cement ..... on the question whether the finance act 10 of 1965 imposed a surcharge on excise duty or a separate distinct duty, it was urged that a plain meaning has to be given to the words used by the ..... question is whether the excise duty under the excise act is the same or similar duty to the duty of excise mentioned in section 80 of the finance act. ..... (1) when goods of the description mentioned in this section, chargeable with a duty of excise under the central excises act (as amended by this act or any subsequent act of parliament) read with any notification for the time being in force issued by the central government in relation to the duty so chargeable, are assessed to duty, there shall be levied and collected - (a) as respects goods comprised in .....

Kerala State Coir Corpn. Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Cochin

Reported in : (1994)50ITD1(Coch.)

..... in the record, in that the assessee had claimed excess loss in the return, that would not result in the levy of additional tax on the amount of the excess claim of loss in terms of the provisions of section 143(1 a) as it stood then; nor at the time when the assessing officer rectified the "intimation" dated 24-10-1991 by an order under section 154 on 10-3-1993, the retrospective amendment envisaged by the finance act, 1993, had received the assent of the h.e. the president of india ..... . [1958] 34 itr 143 and contended that in view of the retrospective amendment to section 143(1a) of the income-tax act, 1961, as inserted by the finance act, 1993, there was a mistake apparent from record in that the additional tax was not levied on the amount of loss disallowed by the assessing officer and, therefore, the same was rightly rectified under section 154 of the act ..... it was only by a retrospective amendment with effect from 1-4-1989 introduced in section 143(1 a) by the finance act, 1993, that the additional tax is chargeable even in cases where the loss returned by the assessee though reduced did not result in an income. ..... . in the case of narayan row [1965] 57 itr 149 (sc), the amending act with retrospective effect was also in existence at the time when the income-tax officer proceeded to rectify the order and could determine whether the records disclosed an apparent mistake in the background of the amended act ..... . ishwar lal bhagwandas [1965] 57 itr 149 and m.k .....

Commissioner of Wealth-tax Vs. M.R. Mahajan

Court : Punjab and Haryana

Reported in : (1980)18CTR(P& H)253; [1980]126ITR706(P& H)

..... the tribunal, however, held that the lapses to be penalised under section 18(1)(i) of the act stood committed for the four years under consideration on dates prior to april 1, 1969, and that, therefore, the law as it stood before the amendment made as per section 24(c) of the finance act, 1969, effective from april 1, 1969, was applicable to the case for the purpose of computation of the penalties that were to be imposed. ..... facts and circumstances of the case, the tribunal was right in law in directing that the penalties for late furnishing of the returns for the assessment years 1965-66, 1966-67, 1967-68 and 1968-69 be recomputed to bring the same in conformity with the provisions of section 18(1)(i), wealth-tax act, 1957, as they stood before april 1, 1969 ?'5. after hearing the learned counsel for the parties we are of the opinion that no fault can be found with ..... the tribunal thus directed that the penalties in relation to the returns furnished for the assessment years 1965-66, 1966-67, 1967-68 and 1968-69 should be recomputed to bring the same in conformity with the provisions of section 18(1)(i) of the act as the text stood before april 1, 1969.4. ..... the returns of the wealth-tax had to be furnished by the assessee by june 30, 1965, june 30, 1966, june 30, 1967, and june 30, 1968, respectively. ..... a consolidated statement of the wealth-tax relating to assessment years 1965-66, 1966-67, 1967-68 and 1968-69 has been made. .....

Prithvi Singh Vs. Commissioner of Wealth-tax

Court : Rajasthan

Reported in : (1984)40CTR(Raj)74; [1984]148ITR516(Raj)

..... ' section 18(1) was amended by the finance act, 1969, with effect from april 1, 1969, and the amended provisions read as under: ' 18, (1) if the wealth-tax officer, appellate assistant commissioner, commissioner or appellate tribunal in the course of any proceedings under this act is satisfied that any person- (a) has without reasonable cause failed to furnish the return which he is required to furnish under sub-section (1) of section 14 or by notice given under sub-section (2) of section 14 or section 17, or has without reasonable cause failed to furnish within the time allowed and ..... the assessee filed three applications under section 27(1) of the act before the appellate tribunal in respect of the assessment years 1965-66, 1967-68 and 1968-69, requiring the appellate tribunal to refer the questions of law arising out of its order dated november 19, 1973, to this court. ..... as regards the first question, it is not in dispute that the assessee did not file any return of his wealth in respect of the three assessment years, namely, 1965-66,1967-68 and 1968-69, not only on the due date but at any time (thereafter). ..... 5,325 respectively upon the assessee in respect of the assessment years 1965-66, 1967-68 and 1968-69, by throe penalty orders passed on march 25, 1972.4. ..... thus, the return of wealth in respect of the three assessment years 1965-66, 1967-68 and 1968-69 were due to be filed on june 30, 1965, june 30, 1967 and june 30, 1968, respectively. .....