Court : Mumbai
Decided on : Dec-31-1992
Reported in : [1993]201ITR348(Bom)
..... any lottery in an amount exceeding rs. 5,000 shall, at the time of payment thereof, deduct income-tax thereon at the rates in force. section 115bb inserted by the finance act of 1986, with effect from april 1, 1987, says that where the total income of an assessee includes any income by way of winnings from ..... these prizes are 'lotteries' within the meaning of section 194b as they are dependent wholly on the chance draw of lucky ticket. 3. the state governments and the union territories running lotteries are, therefore, requested to deduct tax at source at the rates prescribed by the annual finance act in respect of 'lotteries or crossword puzzles' from ..... the petitioner-company. 50. he now refers to the budge speech of the union finance minister when the finance bill, 1986, was introduced in parliament in support of the insertion of sub-section (4) in existing section 58 of the income-tax act relating to amounts not deductible in computing income chargeable under the head 'income from other .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Dec-22-1992
Reported in : (1993)45ITD49(Mum.)
..... from the decision of the calcutta high court in the case of textile machinery corporation ltd. v. cwt [1968] 67 itr 122. in that case the calcutta high court dealt with section 4 of bengal finance (sales tax act) 1941 which is couched in the following language: with effect from such date as the state government may ..... legislature to allow it as a deduction for the subsequent years i.e., 1984-85 and 1985-86. adverting to the provisions in section 140a(3) of the income-tax act the learned departmental representative stated that the said provision provides for treating the assessee who fails to pay the self-assessment tax as ..... by notification in the official gazette, appoint, being not earlier than 30 days after the date of the said notification that every dealer whose gross turnover during the year immediately preceding the commencement of this act .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-16-1992
Reported in : 1993(2)BomCR486
..... beginning of the order and it has been so done to separate the accounts duties and finance and cost work. further, the chief accounts officer is a statutory officer as per section 12(1) of the goa, daman and diu housing board act, 1968 and also head of the accounts branch. the chief accounts officer is also cast with ..... he issued such an order with the knowledge of the chairman who has got supervisory control over all the officers and employees of the board under section 16 of the housing board act, 1968. the alleged typed note by the petitioner could not have figured in any of the agenda notes put up for the board meeting as such ..... tax act has no legal existence till the finance act is made, though till the finance act is made it cannot be enforced. but reliance is placed on section 67-b of the income-tax act support of the contention that its existence in the statute book keeps the act alive, for the rate prescribed by the previous finance act is applicable till the new finance act is .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-11-1992
Reported in : 1993(2)BomCR111; (1993)IILLJ1179Bom
..... service to the statutory guidelines. not only is there no application of mind to the factors indicated in clauses (a) to (d) of sub-section (2) of section 10 of the act, but there is advertence to 'interest of the efficiency of the organisation' which was not germane. there is also no indication, whatsoever, as ..... labour in any process, operation or other work in any establishment, had laid down guidelines in clauses (a) to (d) of the sub-section (2) of section 10 of the act, which were practically based on the guidelines given by the supreme court in the standard vacuum's case. 22. the report of the committee ..... of the criteria for determination of integrality of the establishments which have been evolved by judicial precedents of the supreme court. criteria like unity of management and finance functional integrality, proximity of geographical location, inter transferability of workmen and supervisory staff cannot be overlooked or ignored while deciding this question. in fact, the judgment .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-03-1992
Reported in : 1993(2)BomCR301
..... for the continuance of the existing rates of income-tax. finance act (no. 2) of 1967 was passed on 27-7-1967. one of the measures introduced by this act, was, a variation in the computation of capital gains. as a result, the computation for accounting year 1968-69 became heavier than that for the preceding accounting year of ..... opposed to public policy which tends to defeat any provision of law or purpose of law, it becomes unlawful and thereby it is void under section 23 of the contract act. section 23 is concerned only with the object or consideration of the transaction and not the reasons or motive which prompted it..... certain objects of contract ..... p. 770). a laymen trampling into the quagmire of jurisdiction- pecuniary, territorial or subject wise is playing with fire and certainly cannot seek the aid of section 14 limitation act in the second round. the facts here are very different. plaintiff for all his meticulousness and determination to get even with defendant 1 and 2, did not .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-03-1992
Reported in : 1993LC536(Bombay); 1993(68)ELT557(Bom)
..... and the advantage of the exemption notification is available. on september 14, 1981, the government of india, ministry of finance, served show cause notice in exercise of powers under section 131(3) of the customs act upon the appellants to explain why the order of the appellate authority should not be set aside. the show cause notice ..... . 90.02 cannot mean the rate of duty which is leviable from time to time and subject to the exemption available under notification published under section 25 of the act. we are afraid, we are unable to share the view of the learned single judge. it is not correct to suggest that the ambit ..... specified 100% (2) radio broadcast receiver including those incorporating gramophones, televisions reception apparatus 100% the government of india in exercise of powers under sub-section (1) of section 25 of the customs act, 1962 published exemption notification no. 172-cus. dated august 8, 1977 exempting goods falling under tariff item no. 85.15 of the customs tariff .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-03-1992
Reported in : 1993(2)BomCR329
..... to dismiss a suit etc. instituted after the period prescribed, although limitation may not have been set up as a defence. clause (c) of sub-section (1) of section 26 sr act enables a defendant in a suit in which any right arising under an instrument is in issue, to ask for rectification of the instrument in addition ..... white elephant. this aspect must have been present to the mind of ratanchand. next, it was not as if the trustees were the only people having the necessary finance and inclination to purchase. ratanchand had a prejudice against having a muslim in the neighbourhood. but in the bombay of 1951, muslims with the requisite wherewithal to ..... instant case plaintiff did everything possible to warn defendant 1 and their predecessor ratanchand of how he understood the height covenant. in misc. application no. 501 of 1968 he had pleaded his interpretation of the covenant and had applied for and secured an interim injunction to restrain the construction. again, it was defendant 1 who went .....
Tag this Judgment!Court : Mumbai
Decided on : Dec-01-1992
Reported in : (1993)95BOMLR975; (1993)113CTR(Bom)358; [1993]202ITR375(Bom); 1993(2)MhLj1758
..... , paid shall be deemed to be tax payable by the assessee and the provisions of this act shall apply accordingly....' 8. it may be pertinent to mention that the proviso to sub-section (1) and sub-section (1a) were inserted by the finance act, 1968, with effect from april 1, 1968. 9. the contention of the assessee is that an appeal lies to the appellate assistant commissioner ..... under clause (c) of section 246 of the act. this submission is based on the footing that computation of interest under .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Nov-26-1992
Reported in : (1993)45ITD424(Mum.)
..... 17. the contention of the learned departmental representative, sri keshavprasad, however, is that there was a transfer on 7-10-1986 under clause (vi) introduced in section 2(47) of the act, by the finance act, 1987. under this clause, he submitted, any transaction (whether by way of becoming a member of or acquiring shares in a co-operative society, company, ..... of partnership assets into individual assets on dissolution or otherwise also forms part of the same scheme of tax avoidance. accordingly, the finance act, 1987 has inserted new sub-section (4) in section 45 of the income-tax act, 1961. the effect is that profits or gains arising from the transfer of a capital asset by a firm to a partner ..... kapur" and the words "of m/s.burlingtons' exports" were deleted. the share certificate no. 51 of new beach candy co-operative housing society limited is dated 14-11-1968.it was in the name of "mr. r.k.a. kapur". from the current account of sri r.k.a. kapur, extracted above, we find that he was .....
Tag this Judgment!Court : Mumbai
Decided on : Nov-24-1992
Reported in : 1993(2)BomCR199
..... . in the second case, it was alleged that certain repairs to the drainage and plumbing systems had not been carried out and that an offence under section 257 of the bombay municipal corporation act had been committed. in the third case, respondent no. 1 had been directed to carry out some structural repairs, such as re-plastering, etc., ..... to me that the court has to take judicial notice of something else, namely, the aspect of availability of assistance. quite apart from the attendant circumstances, like the finance involved, etc., the real issue is as to whether the accused was in a position to have complied with the requisitions if he so wanted. it is shri ..... and on noncompliance an offence under section 354 of the bombay municipal corporation act was alleged. it is common ground that in all these three cases, notice was served on respondent no. 1 calling upon him to comply with the .....
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