Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Decided on : Mar-06-1991
Reported in : (1993)LC218Tri(Delhi)
..... not therefore, available for levy and collection of aed, (tta) and sed. hence, levy and collection of aed and sed have to be decided independent of section 51 of finance act and in the light of judgment of delhi high court in j.k. cotton spinning and weaving mills co., ltd. [1982 (10) elt 887] for ..... be deemed to have been removed from such place or premises immediately before such consumption or utilisation. this amendment was given retrospective effect by section 51 of the finance act, 1982. the provisions of this section are reproduced below: 51. retrospective effect for certain amendments to central excise rules and validation. - (1) the amendments made in rules ..... date of incorporation. [state of maharashtra v. madhavarao damodar patil, air 1968 sc 1395 p. 1400.] the rule that the repeal or amendment of the act which is incorporated by reference in a later act is not applicable for purposes of the later act is subject to qualifications and exceptions. [see text and footnotes 28 to 36 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Sep-30-1991
Reported in : (1991)39ITD35(Delhi)
..... in hindustan marbles (p.) ltd. v. ito [1987] 20 itd 16. sub-section (8) of section 40a was inserted by the finance act, 1975 w.e.f. 1-4-1975 and was omitted by the finance act, 1985 w.e.f.1-4-1986. sub-section (8) as inserted by the finance act, 1975 stood as under :- (8) - where the assessee, being a company (other ..... no. 169 dated 23rd june 1975 in the following manner:- 32. in order to discourage unrestricted growth of deposits in the non-banking sector, the finance act has inserted a new sub-section (8) in section 40a to provide for partial disallowance of interest paid by non-banking, non-financial companies on deposits received by them. under the new ..... and 58b of the companies act is to regulate the flow of deposits into non-banking and non-financial companies without having any serious impact on the regular banking companies, the object of enacting sub-section (8) of section 40a is, as stated by the finance minister while moving the bill in the parliament, to provide a dis-incentive .....
Tag this Judgment!Court : Delhi
Decided on : Nov-14-1991
Reported in : ILR1992Delhi731; [1992]194ITR7(Delhi)
..... been filed before the commissioner of income-tax for waiver of interest. (4) as already indicated hereinabove, by the finance act, 1990 two amendments were made in the income-tax act which adversely affected the interest of the petitioner. in section 28, clause (iiib) was inserted w.e.f. 1st april, 1967. according to this the cash assistance (by ..... the ccs which is received is a revenue income taxable under section 28 even prior to its amendment by finance act, 1990. (6) in the memorandum explaining the provisions in the finance bill of 1990, with reference to the insertion of the clause in section 2(24) and section 28 it was indicated that the amendment which was being made ..... b.n. kirpal, j. (1) the challenge in this writ petition is to the validity of section 28(iiib) and section 2(24)(vb) of the income-tax act with retrospective effect by the finance act of 1990. (2) briefly stated the facts are that the petitioner is an exporter and pursuant to the policy of the government of india it .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Mar-25-1991
Reported in : (1992)43ITD33(Delhi)
..... at the instance of the income-tax department, the high court held that the assessee is entitled to the relief provided for in section 2(5)(a) of the finance act, 1966, on both the amounts. section 2(5)(a) of the finance act of 1966 under which the assessee claimed the relief was in the following terms : "2. (5)(a) in respect of any ..... -67, the assessee claimed rebate on the value of the exported goods and 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 ..... court distinguished this case and held it to be totally inapplicable. it pointed out that the madras case was a case of claiming rebate under the provisions of section 2(5){a) of the finance act, 1966. under the scheme framed by the central government to encourage export of goods, the assessee became entitled to import licences and, on the sale of .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Decided on : Apr-29-1991
Reported in : (1991)LC358Tri(Delhi)
..... products described in column (i) the duty of excise under the central excises & salt act, 1944 (1 of 1944); (ii) the special duty of excise under the finance act, 1988 (26 of 1988); (iia) the special duty of excise under sub-section (1) of section 37 of the finance act, 1989 (13 of 1989); (iib) the special duty of excise under sub-clause ..... (1) of clause 65 of the finance bill, 1990, which clause has, by virtue of the declaration ..... made in the said bill under the provisional collection of taxes act, 1931 (16 of 1931), the .....
Tag this Judgment!Court : Delhi
Decided on : Jul-09-1991
Reported in : 45(1991)DLT456; 1992(37)ECC78; 1991LC167(Delhi); 1992(62)ELT253(Del); ILR1992Delhi304
..... them, the rates of sales tax if levied by any state are subject from 1st april, 1958 to the restrictions in section 15 of the central sales tax act, 1956.' 33. the report of the ninth finance commission notes that additional duties of excise in lieu of sales tax were introduced in 1957 in pursuance to a decision of ..... the additional duties of excise is to be as per the recommendations made by the finance commission appointed under article 280 of the constitution. 16. distribution of additional duties of excise among the states is as per the second schedule of the act (section 4). the schedule provides that in case if during a financial year there is levied ..... , on the recommendations of the finance commission. 36. in commissioner of income tax v. smt. sodra devi - : [1957]32itr615(sc) , the question before the supreme court was whether the word 'individual' in section 16(3)(a)(ii) of the income-tax act, 1922, included also a female and the income of the minor sons derived from a partnership .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Apr-30-1991
Reported in : (1991)38ITD193(Delhi)
..... in 1987 it was felt that section 80vva has not produced the desired results. by the finance act of 1987, section 80vva was withdrawn and a new chapter xii b was inserted to be operative with effect from 1-4-1988 i.e., ..... profitable companies should contribute- at least a small portion of their profits to the national exchequer, when other and less better off sections of society were bearing a burden, section 80vva was introduced by the finance act of 1983 providing that the fiscal incentives and concessions available to the companies would not be more than 70% of the profits. ..... consideration unabsorbed depreciation of the past years, was less than 30% of the book profits for the year.section 115j of the income-tax act, 1961 was in voked by the assessing officer.2. section 115j inserted by finance act of 1987 with effect from 1-4-1988 provides that where the income of a company as computed under .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Sep-05-1991
Reported in : (1991)39ITD406(Delhi)
..... in respect of persons who have agricultural income in addition to non-agricultural income that the mode of computation of rate of tax as provided by the finance act is adopted. the karnataka high court also upheld the constitutional validity of aggregating agricultural income for rate purposes by holding that the agricultural income was not ..... the total income. the finance acts of 1973 and 1974 by legislative fiction deem agricultural income to be part of total income for the limited purpose of working out the rate of tax. the impugned provisions do not outrun the embankments provided by sections 4,66 and 110 of the i.t. act and the scheme of the ..... defined under section 2(24) of the income-tax act, 1961.under section 10 certain incomes are excluded from forming part of total income and agricultural income is specifically excluded from the total income. there is thus no doubt that agricultural income as such is not liable to tax. from assessment year 1973-74 the finance act, 1973 provided .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Decided on : Jan-11-1991
Reported in : (1991)(33)ECC188
..... reference to an exemption or concession notification which would necessarily affect the rate of duty. however, by section 47 of finance act, 1984, section 35b pertaining to appeals to tribunal was amended by adding a proviso. the first proviso to section 35b has taken away the jurisdiction of the appellate tribunal to decide any appeal pertaining to rebate of ..... in my view, neither the speical bench nor the regional bench will have jurisdiction because by the amendment to section 35b by the finance act 1984, the jurisdiction in such matters has been vested in the govt. of india under section 35ee.35. i agree with the order of learned brother, shri peeran. however, i am of the ..... outside india (except to nepal or bhutan) under bond (rule 13 central excise rules). this provision barring tribunal's jurisdiction came into effect with the enactment of finance act 1984, on 11-5-1984. therefore, where the appeal from an order of the collector (appeals) turns on the interpretation of 12,12a and 13 of .....
Tag this Judgment!Court : Delhi
Decided on : Sep-30-1991
Reported in : 1995(80)ELT507(Del); ILR1992Delhi433
..... anxious moments as the interpretation we have put has grave consequences for the revenue as similar terminology as used in section 3(3) of the additional duties act has been used in various finance acts and other enactments, but then article 265 of the constitution mandates that no tax shall be levied and collected except ..... associated cement company ltd. v. director of inspection : [1985]153itr322(sc) , where the subject-matter was interpretation of section 80 of the finance act, 1965, which used identical language to that in section 3(3) of the additional duties act. section 80 of the finance act. 1965, was as follows :- '(1)when goods of the description mentioned in this ..... carry into effect the purposes of the central excises act and the remedies under that act, lastly, he said that the act was in force since 1957 and the expression similar to sub-section (3) of section 3 of the additional duties act had been used in various finance acts levying special duties of excise and there had .....
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