Court : Chennai
Decided on : Jun-12-1991
Reported in : (1991)96CTR(Mad)117; [1992]195ITR593(Mad)
..... failure to disclose the added amounts in the returns filed by him was due to any fraud or willful neglect on his part. 14. the explanation to section 271(1)(c) was introduced by the finance act, 1964, with effect from april 1, 1964. the supreme court decided anwar ali's case : [1970]76itr696(sc) on april 29, 1970, i.e., six years ..... the returns for the assessment year 1961-62 and 1962-63 were filed long before the amendment of section 271 with effect from april 1, 1968, penalty for such concealment of income was held leviable in accordance with the provisions of section 271 of the act as they stood prior to the amendment and not after the amendment, even where the penalty proceedings had .....
Tag this Judgment!Court : Chennai
Decided on : Apr-04-1991
Reported in : (1991)94CTR(Mad)86; [1991]192ITR423(Mad)
..... amounts referred to will necessarily constitute business receipts referable to, or derived from the export of cycle rims and hence the assessee was entitled to the rebate under section 2(5)(a) of the finance act, 1966, on the two amounts. the above decision is clearly distinguishable on facts and the principle laid down in that decision will not apply to the ..... -67, the assessee claimed a rebate on the value of the exported goods on the two receipts referred to above on the basis of the provisions of section 2(5)(a) of the finance act, 1966. the income-tax officer held that the cash subsidy of rs. 1,60,717 and the profits from the sale of import entitlements amounting to ..... the notification no. s.o. 3210, dated august 8, 1969 (see [1969] 74 itr (st.) 6), but had considered only the combined effect of section 2(5)(a)(i) and 2(5)(d) of the finance act, 1966, and the rule 2(2) of the income-tax (determination of export profits) rules, 1966. the assessee would get the benefit of notification no .....
Tag this Judgment!Court : Chennai
Decided on : Aug-02-1991
Reported in : [1992]195ITR750(Mad)
..... the question on head, it is necessary to refer to certain statutory provisions of the income-tax act, 1961 (hereinafter referred to as 'the act'). chapter xx-c, consisting of section 269u to 269uo, has been introduced by the finance act, 1986. section 269ua(b) of the act defines 'apparent consideration' and it runs as follows : '(b) 'apparent consideration ',- (1) ..... unworkable on account of the procedures contemplated. hence, parliament deleted chapter xx-a and introduced chapter xx-c by the finance act, 1986. as such, it is clear that chapter xx-c has been introduced by the finance act, 1986, as a measure for countering evasion of tax and empowering the central government to acquire property on its ..... government of india v. maxim a. lobo : [1991]190itr101(mad) , a division bench of this court held that, before passing an order under section 269ud(1) of the act, at least a hearing is to be given to the party who is likely to be affected by the order proposed to be passed and the order .....
Tag this Judgment!Court : Chennai
Decided on : Feb-26-1991
Reported in : [1991]81STC228(Mad)
..... poly-ene general industries : [1976]104itr242(mad) may at this stage be referred to. section 2(5)(a) of the finance act reads : 'in respect of any assessment for the assessment year commencing on the 1st day of april, 1964 - (i) an assessee being an indian company or ..... , which was utilised by the merchants for packing the banians also was a sale or purchase of goods as envisaged in sub-section (3) of section 5 of the central sales tax act or not. 5. certain provisions of the finance act, 1964, which have since been interpreted by a bench of this court in the case of commissioner of income-tax v. ..... to any place outside the territory of india, where the sale or purchase effected immediately before the export of such goods is under sub-section (3) of section 5 of the central sales tax act, 1956 (central act 74 of 1956), a sale or purchase in the course of export, the series of sales or purchases of such goods shall be deemed .....
Tag this Judgment!Court : Chennai
Decided on : Jun-13-1991
Reported in : (1992)104CTR(Mad)143; [1992]195ITR137(Mad)
..... concerned for taking the necessary steps for compliance with the provisions of clauses (a) and (b).' 91. it is worthwhile to not here that section 276aa had been omitted by the finance act, 1986, with effect from october 1, 1986. 92. in the case on hand, though acquisition proceeding had been initiated at the time when the ..... a benevolent provision could not be in violation of article 20(1) of the constitution of india and, therefore, the amendment of section 136 with retrospective effect from april 1, 1974, by the finance act, 1985, was valid. as such, it cannot be stated that the first facet of their contention, a procedure before the raiding ..... present juncture, i feel is purely academic consequent to the amendment of section 136 of the income-tax act that came into being by the finance act, 1985, with retrospective effect from april 1, 1974. 19. the section as amended reads as follows : 'any proceeding under this act before an income-tax authority shall be deemed to be a judicial .....
Tag this Judgment!Court : Chennai
Decided on : Apr-30-1991
Reported in : (1991)IILLJ394Mad; (1993)IIMLJ540
..... institutions, employees employed by the reserve bank of india, employees employed by the industrial finance corporation of india or any financial corporation established under section 3 or any joint financial corporation established under section 3a of the state financial corporation act, the deposit insurance corporation, the agricultural refinance corporation, the unit trust of india, the ..... the supreme court in jalan trading co. v. mill mazdoor union : (1966)iillj546sc considered the constitutional vires of the various provisions of the payment of bonus act including section 32 and stated the law in these words : (pp 556-558) 'it way be broadly stated that bonus, which was originally a volutary payment, out ..... , the context and the collocation of the words can be the best guide to indicate its true import. state of assam v. ranga muhammad, : (1968)illj282sc . it is well-known method of interpreting a statute that when there is doubt about the meaning of a particular word, it has to be .....
Tag this Judgment!Court : Chennai
Decided on : Nov-15-1991
Reported in : 1995(80)ELT47(Mad)
..... central excise in exercise of the powers conferred by sub-rule (1) of rule 8 of the central excise rules, 1944, read with sub-section (4) of section 50 of the finance act, 1982 (14 of 1982), the central government hereby makes the following amendments in the notification of the government of india in the ministry of ..... , 1982, which clause has by virtue of the declaration made in the said bill under provisional collection of taxes act, 1931 (16 of 1931), the force of law', the words, brackets and figures 'sub-section (4) of section 50 of the finance act, 1982 (14 of 1982)' shall be substituted; (b) for paragraph 4, the following paragraph shall be substituted, ..... finance (department of revenue) no. 132/82-central excises, dated the 21st april, 1982, namely :- in the said notification, - (a) in the preamble, for the .....
Tag this Judgment!Court : Chennai
Decided on : Jan-29-1991
Reported in : 1991CriLJ2679
..... detention is invalid. the same view has been reiterated by another bench of this court in mohamed (illegible) v. joint secretary to government of india, ministry of finance, (w.p. no. 11887 of 1990 dt 9-11-1990). 11. in this case however we are also inclined to take the view that it was not ..... the same however remained with the government, meaning the government constituted in the council of ministers to act in accordance with the rules of the executive business. since under the rules of business of the central government, the finance minister was required to attend to the representation of the detenu, the petitioner herein, nothing could be ..... mishra, j. 1. whether the grounds merited the petitioner's detention under section 3(1) of the conservation of foreign exchange and prevention of smuggling activities act, 1974, hereafter referred to as 'the act' and whether the petitioner was rightly detained, are questions that we think are not required to be considered at all. facts pertinent for .....
Tag this Judgment!Court : Chennai
Decided on : Feb-07-1991
Reported in : 1993(42)ECC85; 1993LC584(Madras); 1991(55)ELT184(Mad); (1991)IIMLJ287
..... the wheel base of the grinder with that of the motor by using a v-belt.3. excise tariff item 33-c which was introduced by the finance act no. 14 of 1969 with effect from 1-3-1969 reads as follows :- (the first schedule)------------------------------------------------------------------------item no. description of goods. rate of duty ..... issue of trade notices. it appears that when again representations were made by the manufacturers as well as traders, the government of india, ministry of finance, central board of excise and customs, new delhi by their circular dated 12-6-1975 made it known that wet grinders driven by the external ..... .'when the authorities of the department called upon the various manufacturers of wet grinders to take out a licence under the central excises and salt act, they protested and made representations through the manufacturer-association to which they were informed by the authorities that domestic grinders will not fall within the .....
Tag this Judgment!Court : Chennai
Decided on : Aug-02-1991
Reported in : 1992(60)ELT546(Mad)
..... 'this writ petition was filed by nine petitioners seeking a declaration that the action of the respondent in seeking to levy and collect differential excise duty under section 52 of the finance act, 1982, is illegal. the petitioners seek a direction to the respondent restraining him from collecting the differential excise duty. at the time of hearing, the learned ..... terms of notification no. 22/82 dated 23-2-1982 issued under the provisions contained in clause 52 of the finance act, 1982 which it is said has been subsequently made part of the provisions of the act. against the said proceedings an appeal has been filed before the collector of central excise (appeals) and by an ..... the learned counsel relied upon the following judicial pronouncements in respect of his claim : the decision in j. m. bhansali and others v. the state of madras (1968) 21 s.t.c. 411 is one where a devotion bench of this court while considering the question of sufficient cause for the delay in filing the appeal came .....
Tag this Judgment!