Judgment Search Results Home > Cases Phrase: finance act 1968 chapter i preliminary Year: 2002 Page 3 of about 121 results (0.121 seconds)

Chitra Devi Vs. Asstt. Cit

Court : Rajasthan

Reported in : (2002)77TTJ(NULL)640

..... however, now we may pause here for a moment to clarify the legal position on this point as it emanates from the statutory provisions after the amendment effected vide finance act, 2002 in section 158b w.r.e.f. 1-7-1995. on analyzing the statutory provisions, the relevant legal position, in respect of sustenance/deletion of ..... he has contended that the department could take necessary proceedings of regular assessment in respect of documents found during survey but could not include the same in chapter-xiv-b in the block assessment. in the written statement of assessee, it has been contended that as admitted by the department the assessee is manufacturing gold ..... assessing officer deserves to be deleted. it has also been contended that the assessing officer has made addition on protective basis whereas in a block assessment under chapter xiv-b there is no scope for any assessment on protective basis. as against this the learned departmental representative of revenue has relied on the orders of .....

Mohan Dairy Vs. Dy. Cit

Court : Delhi

Reported in : (2004)90TTJ(Del)403

..... with effect from 1-4-1966. that section was omitted and in its place section i was introduced by the finance (no. 2) act. 1967 with effect from 1-4-1968. section 80-i was also omitted by the finance act, 1972 with effect from 1-4-1973. subsequently, as mentioned earlier, the same was brought on statute with effect from 1- ..... 4-1981. subsequently, by finance act, 1983 with effect from 1-4-1984 the benefit of deduction under section 80-i was extended to the ..... 80-ia was not satisfied. we find that up to 31-3-1990, the industrial undertaking satisfying certain conditions were eligible for deduction under section 80-i of the act. however, by finance act, 1990, with effect from 1-4-1990, the benefit was extended to cold storage also. the meaning of the word 'industrial undertaking' has not undergone any .....

Jai Bharath Tanners Vs. Cit

Court : Chennai

Reported in : [2003]128TAXMAN880(Mad)

..... on the sale of an import licence, cash assistance and duty of customs or excise repaid or repayable as drawback are all treated as business income and by the finance act, 1990, section 28 has been amended with full retrospective effect from 1-4-1961 treating all kinds of income covered under three sub-clauses as business income of the ..... , in the regular assessment, if any, for the earlier assessment year or years.'sub-clauses (ii) and (iii) of section 143(1)(b) were omitted by the finance (no. 2) act, 1980 and the reason for the deletion is stated in the statement of objects and reasons and it reads as under :'under section 143(1) of the income tax ..... of the revenue should be read in conjunction with an erroneous order passed by the assessing officer. the supreme court noticed the earlier decisions in rampyari devi saraogi v. cit : [1968]67itr84(sc) and smt. tara devi aggarwal v. cit : [1973]88itr323(sc) wherein the supreme court held that where a sum not earned by a person is assessed .....

Asian Paints India Ltd. Vs. Commissioner, Sales Tax

Court : Madhya Pradesh

Reported in : [2002]126STC239(MP)

..... primer and its constitution, is proper and hence i am inclined to concur with it.17. learned counsel for the petitioner placed heavy reliance on the decision reported in [1968] 22 stc 90 (bom) (commissioner of sales tax v. colour chem. limited). in my opinion, it is distinguishable on facts. in that case, the question arose ..... is used for giving final touches on it (primer). placing reliance on the decision in the case of commissioner of sales tax v. colour chem. limited reported in [1968] 22 stc 90 (bom). learned counsel urged that there can be no difficulty in holding that the commodity 'primer' cannot be equated with either paints, lacquers, enamels, ..... lacquers, primers are also used in heading nos. 32.08, 32.09 and 32.14 falling in chapter 32, for payment of excise because all these commodities are also subjected to payment of central excise under the central excises and salt act, 1944. these three headings read as under :'32.08. paints and varnishes (including enamels and lacquers) .....

Bharat Beedi Works Limited Vs. Kunhambu K. and ors.

Court : Karnataka

Reported in : [2003]115CompCas676(Kar); ILR2002KAR2289; 2002(6)KarLJ133

..... interim order passed by the learned single judge staying the proclamation of sale on the ground that alternative remedy of appeal is available under section 20 of the act and the respondent-petitioner therein cannot circumvent the remedy by filing a writ or suit which is expressly barred. 16. the argument that once the case is ..... should not have entertained the petition under article 227 of the constitution and should have directed the respondent to take recourse to the appeal mechanism provided by the act'. 15. a division bench of this court in the case of state bank of india, supra, considering the fact-situation and the decision in the case ..... recourse to proceedings under articles 226 and 227 of the constitution or by filing a civil suit, which is expressly barred. even though a provision under an act cannot expressly oust the jurisdiction of the court under articles 226 and 227 of the constitution, nevertheless, when there is an alternative remedy available, judicial prudence demands .....

Chetak Constructions Limited Vs. Om Prakash and ors.

Court : Madhya Pradesh

Reported in : AIR2003MP145; 1998AIRSCW1653

..... affirmed by this court, as discussed above, must be followed. this question arose before the supreme court in delhi motor company v. v. a. basrurkar, air 1968 sc 794, but it was left open.21. in view of the legal position discussed above the trial court has rightly held that the present suit is prima facie ..... intended to lay down, irrespective of the nature of the relief claimed, that, under no circumstances, can the transferee rely upon the provisions of section 53a of the act as a plaintiff. it was further observed : 'in the context, the question whether the rights conferred under section 53a, without asserting title to the property were available ..... in its favour and it would suffer irreparable injury if the application for temporary injunction is not allowed.12. point (a)section 53a of the transfer of property act relevant for the present purpose provides that where any person 'contracts to transfer for consideration' any immovable property by writing signed by him and the 'transferee' has .....

Farrukhabad Investment (i) Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2003)85ITD230(Delhi)

..... : "nextly, the commission has elaborately discussed the object of introduction of chapter xiv-a in the act, the history behind the introduction and schematic rationalisation of the provisions of chapter xix-a brought about through the finance act, 1987 to hold that in exercising its power under chapter xix-a, it has almost unbridled power to arrive at a settlement. ..... it. our observations find support from the decision of the hon'ble supreme court in vishnu pratap sugar works (p) ltd v. chief inspector of stamps air 1968 sc 102. the legislation in a modem state is actuated with some policy to curb some evils or to some public benefits. a bare mechanical interpretation of the ..... hardship should take place in the genuine cases. in this connection, it was explained that penalty under section 271(1)(c) of the act was relatable to the tax up to 31st march, 1968. subsequently, the penalty under section 271(1)(c) was relatable to the concealed income. but as the hardships were being faced by the .....

Raymond Limited Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)86ITD791(Mum.)

..... lynch but that was an opinion which they had and since under section 195(1), as it stands after the amendment made by the finance act, 1987, w.e.f. 1st june, 1987, the assessee-company was more than a "statutory agent" under section 163, the position ..... " the "purchase and resale" theory. dsp was registered as a merchant banker of category-i under regulation 3(2)(a)(i) of chapter-ii of the sebi rules, 1992 (securities and exchange board of india), which made it an indian merchant banker who cannot buy or sell ..... the total payment was not to exceed 4 per cent of the issue proceeds. the payment was also approved by the ministry of finance (p.73 of the department's paper book), which was the preliminary approval.the final approval was given on 12th sept., 1994, ..... chargeable. he refers to the judgment of the hon'ble bombay high court in the case of cit v. cooper engineering ltd. (1968) 68 itr 457 (bom). as regard the reliance placed by the cit(a) on the judgment of the supreme court in the case .....

Vishwanath Prasad Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Allahabad

Reported in : (2003)86ITD516(All.)

..... the merits of the appeal, we feel it appropriate to decide the above preliminary issue first.12. chapter xiv-b inserted by finance act, 1995 w.e.f. 1st july, 1995 provides special procedure for assessments in search cases. section 158bc of the income-tax act provides special procedure for block assessment. where any search has been conducted under section 132 of the income ..... search.22. circular no. 717 dated 14th august, 1995 is issued by the cbdt on the subject of finance act, 1995 - explanatory notes on provisions relating to direct taxes. clause 39.3 of this circular provides salient features of the scheme provided under chapter xiv-b. the relevant clause is reproduced from this circular: where the previous year has not ended or the .....

Bpl Limited Vs. Securities and Exchange Board of

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... of the board. the impugned order has been made by the respondent chairman exercising the concurrent power of the board vested in him.112. chapter iv of the act deals with the functions of the board. this chapter comprises 4 sections - i.e. section 11, on functions of the board, section 11a on matters to be disclosed by the companies, ..... suitable acquisition. the offer therefore was turned down. i understand that the said broker had also sent five crore worth of shares of money television ltd to sanyo finance. sanyo finance is a partnership firm belonging to the bpl group set up to manage media business". to another question as to "who made the offer for sale of shares ..... direction has been issued in terms of the powers available under the section 11/11b of the act and regulation 12(a) and as such the ratio of the said case is not applicable. referring to kantilal babulal's case (air 1968 sc 445), he stated that the issue involved therein was forfeiture of money without statutory authority.in .....