Court : Delhi
Decided on : Jul-29-2005
Reported in : (2005)197CTR(Del)241; [2006]283ITR458(Delhi)
..... . section 14, which is the first section in chapter iv (computation of total income), prescribes that, save as otherwise provided by the act, all income shall, for the purposes of charge of income-tax and computation of total income, be classified under the following heads of income : a. salaries; b. interest on securities (omitted by finance act, 1988, w.e.f. 1st april, 1989 ..... ., before the insertion of above explanationn and hence cannot help the case of the assessed. for the same reason the decisions given in cit v. india sea foods , asst. yr. 1968-69, cit v. c.r. niranjan (1991) 187 itr 280 (mad) : tc 50r. 1014, asst. yr. 1969-70 and cit v. jaora oil mill , asst. yr ..... . 1968-69, are not applicable.'of course, when these observations were made, the supreme court order dismissing the appeal in prithipal singh (sc) (supra) had not come. but, as indicated above, .....
Tag this Judgment!Court : Delhi
Decided on : Dec-19-2005
Reported in : 2006(1)ARBLR38(Delhi)
..... as this question is concerned, the learned counsel for the petitioner has relied upon a decision of a learned single judge of this court in the case of cholamandalam investment & finance co. ltrd. v. cec ltd. & anr: 1996 ii ad (delhi) 517. in that case, an objection has been raised that the simultaneous execution of the decree at ..... foreign award is concerned, section 49 deals with the enforcement of such awards. it provides that where the court is satisfied that the foreign award is enforceable under this chapter, the award shall be deemed to be a decree of that court. it is relevant to note that while in section 36, which deals with enforcement of award ..... and to domestic awards. part ii pertains to 'enforcement of certain foreign awards'. chapter i thereof pertains to the new york convention awards and chapter ii pertains to the geneva convention awards. in this case we are concerned with chapter i of part ii of the said act. clearly, section 42 falls in part i and so does section 34. but .....
Tag this Judgment!Court : Delhi
Decided on : Aug-17-2005
Reported in : 2005(2)ARBLR561(Delhi); 123(2005)DLT532
..... matter from a geneva convention country) is minuscule which is perhaps the reason for this void. i would hazard to assess the incidence of chapter ii of part ii of the arb. & con. act being attracted or invoked is likely to be less than ten percent. the existence of this void or lacuna leads to two possibilities where the ..... civil courts shall have no role to play in arbitration matters, as it could easily have done. in dhulabhai etc. v. state of madhya pradesh and anr., : [1968]3scr662 , it has been opined by the constitution bench that 'the jurisdiction of civil courts is all embracing except to the extent it is excluded by an express provision of ..... part ii. this precedent also does not definitively advance the case of the respondents.19. in summation, in every arbitration governed by the new york convention, part ii chapter i shall have to be applied, notwithstanding the provisions of part i. in these cases it is the venue of the arbitration that is conclusive whilst an application must .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jun-22-2005
Reported in : (2005)96TTJ(Delhi)1
..... of interest used the expression "may" thereby giving a discretion to the authorities concerned to either reduce or waive the interest. the change brought about by the amending act (finance act, 1987) is a clear indication of the fact that the intention of the legislature was to make the collection of statutory interest mandatory." (underlining ours) the above ..... commission, the same indicates that so far as the payment of statutory interest is concerned, the same is outside the purview of the settlement contemplated in chapter xix-a of the act." at page 13 of the report, the supreme court contrasted the earlier and new provisions relating to the levy of interest in the following words: ..... virtue of default in furnishing a return of income, default in payment of advance tax or interest for deferment of advance tax are concerned, part f of chapter xvii has been obligated with the duty of levy of interest, as also to make the necessary changes in the payment of interest dependent on the change .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Nov-30-2005
Reported in : (2006)98ITD285(Delhi)
..... ignores the prevalent malpractice that was noticed by the direct taxes enquiry committee and the recommendations made by the said committee which led to the amendment of the act by the finance act of 1972, whereby the exemption from tax that was available in respect of winnings from lotteries, crossword puzzles, races, etc., was withdrawn. similarly, the ..... been disclosed to the department by the assessee in its recorded books of accounts maintained prior to the date of search under section 132, the provisions of chapter xivb could not be invoked against the assessee since the fact was not in dispute that the share capital was recorded in the account books maintained by ..... reliance has been placed on behalf of the appellant on the assessment for the subsequent year, that is to say, for the year relevant to the assessment year 1968-69. the commissioner has pointed out certain differences between these two years. in our opinion, as the learned judge has rightly observed, the assessee has no .....
Tag this Judgment!Court : Central Administrative Tribunal CAT Delhi
Decided on : Nov-11-2005
Reported in : (2006)(3)SLJ235CAT
..... ) is regarded as an assessee. he is the person who provides the service. 9. section 68(i-a) is a special provision, which has been inserted by the finance act, 1997. according to section 68(1) "every person who was providing the taxable service is the one who is required to collect the service tax at the rate specified ..... required payment of licence fee for premises where licenced shop is located. holding rule 8(1) of karnataka excise (sale of indian and foreign liquors) rules, 1968, as ultra vires the act-karnataka excise act, 1965, section 23 (d, it was observed that: rule 8(1) has obviously gone beyond the enabling provision.. it may be possible for the legislature ..... making power. the rule made by the bar council of india under section 49(1) of the act are in seven parts, each part having its own chapters. part vi is entitled "rules governing advocates" and the said part has three chapters. chapter i sets out the restrictions on senior advocates and is relatable to sections 16(3) and 49(1 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Jun-07-2005
Reported in : (2006)281ITR107(Delhi)
..... advocate, shri v.h. patil appearing for m/s first global stock broking (p) ltd. as intervener submitted that chapter xiv-b prescribing special procedure for assessment of search cases was introduced in the statute by the finance act, 1995, and since the assessment for the block period assessing undisclosed income has now to be made in the cases where ..... search has been conducted, the validity of search has become of vital importance. he submitted that since the block assessment under chapter xiv-b is made consequent to a ..... seized. to the similar effect is the decision of hon'ble allahabad high court in the case of hindustan metal works and ors. v. cit and ors. (1968) 68 itr 798 (all), wherein it was held that the fact that a few documents not apparently relevant to any pending proceedings were seized nor the fact that .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Aug-26-2005
Reported in : (2005)4SOT825(Delhi)
..... the prevalent malpractice that was noticed by the direct taxes enquiry committee and the recommendations made by the said committee which led to the amendment of the act by the finance act of 1972, whereby the exemption from tax that was available in respect of winnings from lotteries, crossword puzzles, races, etc., was withdrawn.similarly, the ..... against a person other than the person raided are part of the proceedings which commence with search under section 132 and culminate in proceedings under chapter xiv-b of the act. if at any stage, the assessing officer is satisfied that any undisclosed income belonged to some other person, similar notice is to be issued ..... the assessing officer having jurisdiction over such other person and that assessing officer shall proceed under section 158bc against such other person and the provisions of this chapter shall apply accordingly.' 4.7 on going through the above lines, it is evident that it is not mandatory on the part of the assessing officer .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : May-13-2005
Reported in : (2006)103ITD157(Delhi)
..... and was revenue expenditure in nature, the assessee would be entitled to claim the entire sum as deduction in one assessment year itself. section 35ab was introduced into the it act by the finance act, 1985, w.e.f. 1st april, 1986. the section is as under : "35ab. (1) subject to the provisions of sub-section (2), where the assessee has paid in ..... both the lease agreements is a clause to the effect that in the event of the manufacturer of the plant and machinery demanding any advance for supply of machinery, the finance company will pay the same and notwithstanding the fact that the lease of the machine will commence only in future, the lessee (viz., the assessee) will have to pay ..... use the know-how was a revenue expenditure and reliance was placed on the decisions of the hon'ble supreme court in the cases of cit v. ciba india ltd. (1968) 69 itr 692 (sc), alembic chemical works co. ltd. v.cit (1989) 177 itr 377 (sc). further reliance was also placed on the decisions of the hon'ble delhi .....
Tag this Judgment!Court : Delhi
Decided on : Nov-25-2005
Reported in : [2008]144CompCas780(Delhi); (2006)2CompLJ242(Del); [2007]79SCL541(Delhi)
..... court when it had the occasion to examine the scope of the provisions and powers conferred under chapter iiib of the rbi act in the case of pearless general finance and investment co. ltd. v. reserve bank of india : 1991crilj1391 . while upholding the provisions contained in chapter iiib and remarking that the rbi, if considered necessary, in the public interest so to do specify ..... the non-banking institutions and unincorporated bodies receiving deposits are regulated in terms of the provisions of chapters iii-b and iii-c of the reserve bank of india act, 1934, respectively. until recently the emphasis was on regulating the receipt of deposits by non-banking finance companies (nbfcs) as an adjunct to credit and monetary policies and to provide indirect protection to .....
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