Judgment Search Results Home > Cases Phrase: finance act 1968 section 28 amendment of section 280zb Year: 1996 Page 6 of about 262 results (0.239 seconds)

Pearl Agencies Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1997)61ITD511(Delhi)

..... the assessee should be receivable by the assessee in convertible foreign exchange. the expression 'receivable' was substituted by the words 'received in, or brought into india' by the finance act, 1990, w.e.f. 1st april, 1991. the assessee got deduction under s. 8ohhc in the relevant years when the export sales were made in accordance with the ..... subsequently amended with which we are not concerned. the words "receivable" used in s. 8ohhc(2)(a) was substituted by the words "received in or brought into india" by the finance act, 1990, w.e.f.1st april, 1991. the learned counsel also invited our attention towards judgments a. v. thomas & co. ltd. vs. cit (1963) 48 itr 67 ..... the plant or machinery is sold or otherwise transferred before the expiry of the 8 years or 10 years period as prescribed in the relevant sections. no such provision has been made in it act for withdrawal of deduction granted under s. 8ohhc if it is found that the export sales proceeds could not be recovered.in view of the .....

Union of India and Another Etc. Etc. Vs. A. Sanyasi Rao and Other Etc. ...

Court : Supreme Court of India

Reported in : 1996IIAD(SC)401; AIR1996SC1219; [1996]219ITR330(SC); JT1996(2)SC425; 1996(2)SCALE280; (1996)3SCC465; [1996]2SCR570

..... of the validity or otherwise of sections 44ac and 206c of the act, they were heard together.2. section 44ac of the act was inserted by the direct tax laws (amendment) act. 1989 with effect from 1.4.1989. section 206c of the act was inserted by the finance act, 1988 with effect from 1.6.1988. the above sections are re-produced herein below : ..... 44ac. special provision for computing profits and gains from the business of trading in certain goods :- (1) not with standing anything to the contrary contained in sections 28 to 43c. in ..... him by way of auction and where the sale price of such goods to be sold by the buyer is fixed by or under any state act; the following explanation is being inserted by the finance act, 1990 with effect from 1 april, 1991 :explanation : - for the purpose of this clause, 'purchase price' means any amount (by whatever .....

Commissioner of C. Ex. Vs. Johnson and Johnson Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1996)(88)ELT274Tri(Mum.)bai

..... under the said notification, and amongst others they are (i) the duty of excise under the central excises and salt act, 1944, (ii) the special duty of excise under the finance act, and (iii) the additional duty under section 3 of the customs tariff act, 1975 and after due listing them, it is mentioned that "hereinafter referred to as specified duty".7. it thus appears ..... to rs. 800/- per m.t. only so far as it related to duty under central excises and salt act, 1944 and special duty of excise under finance act, 1988, but did not include additional duty of customs imposed under section 3 of the customs tariff act, 1975, and so far as such additional duty of customs was concerned, they were eligible to avail of .....

Collector of Customs Vs. K. Mohan and Co.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1997)(94)ELT202TriDel

..... the respondent against the maintainability of the appeal. section 131 as it stood before the finance act no. 2 of 1980 conferred power of revision on the central government. sub-section (1) enabled the government to modify or annul any order passed under section 128 or any order passed under section 130 etc. on the application of any person ..... aggrieved by such order. sub-section (4) of section 131 conferred power ..... the additional duty shall be calculated at that percentage of the value of the imported article.4. prior to the enactment of the finance act, 1981, the schedule to the c.e.s. act, 1944 did not specifically refer to waste or scrap. waste and scrap were specifically included in the excise tariff by the amendments .....

Pearl Agencies Vs. Deputy Commissioner of Income Tax.

Court : Delhi

Reported in : (1998)60TTJ(Del)412

..... by the assessed should be receivable by the assessed in convertible foreign exchange. the expression receivable was substituted by the words received in, or brought into india by the finance act, 1990, w.e.f. 1st april, 1991. the assessed got deduction under s. 8ohhc in the relevant years when the export sales were made in accordance with ..... subsequently amended with which we are not concerned. the words 'receivable' used in s. 8ohhc(2)(a) was substituted by the words 'received in or brought into india' by the finance act, 1990, w.e.f. 1st april, 1991. the learned counsel also invited our attention towards judgments a. v. thomas & co. ltd. vs. cit : [1963]48itr67(sc) , ..... the plant or machinery is sold or otherwise transferred before the expiry of the 8 years or 10 years period as prescribed in the relevant sections. no such provision has been made in it act for withdrawal of deduction granted under s. 8ohhc if it is found that the export sales proceeds could not be recovered.in view of .....

Assistant Commissioner Wealth Vs. Sultan Brothers (P) Ltd. (Also

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... 1991 are by the assessee, wherein the assessee has taken five grounds of appeal in which the assessee has disputed the applicability of provisions of s. 40 of the finance act, 1983 itself.2. we have heard the learned departmental representative as well as assessee's counsel. the facts of the case are that the assessee owned a building commonly ..... 's holding company for hotel business; is deemed to have been used by the assessee for business purpose and therefore, was outside the scope of s. 40 of the finance act, 1983. at the time of hearing, the assessee's counsel submitted that in case the revenue's appeals fail then he would not like to press these appeals, otherwise ..... for hotel business was deemed to have been used by the company for its business and consequently the same was outside the purview of the s. 40 of the finance act, 1983.11. as we have dismissed the revenue's appeals for both these years, we do not consider it necessary to decide this issue and consequently, the appeals .....

Commissioner of Income-tax Vs. Pawansut Cold Storage (P.) Ltd.

Court : Patna

..... case, the assessee-company running the cold storage could be held to be an industrial company for purposes of section 2(7)(c) of the finance act, 1973, and the first schedule thereto. section 2(7)(c) of the finance act, 1973, defined that industrial company meant a company which was mainly engaged in the business of generation or distribution ..... scientific examination might indicate loss of moisture content, that is not sufficient for holding that the stored articles have undergone a process within the meaning of section 2(7)(c) of the finance act, 1973. ' 11. taking the view following the supreme court decision as to what are the functions of the cold storage, we find ourselves ..... the investment allowance as claimed by the assessee as in his view the cold storage plant did not produce any article or thing as envisaged in section 32a of the act. 5. the appeal filed by the assessee was allowed by the commissioner of income-tax (appeals) and the appellate authority accepted the assessee's .....

Commissioner of Income-tax Vs. Lal Chand Tirath Ram

Court : Punjab and Haryana

Reported in : (1997)140CTR(P& H)583; [1997]225ITR675(P& H)

..... all the facts relating to the same and material to the computation of his total income have been disclosed by him.' 10. clause (c) of section 271(1) had been earlier amended by the finance act, 1964, with effect from april 1, 1964, whereby the word 'deliberately'was omitted. earlier when the word 'deliberately' existed there, the second ..... distinctly and these are with respect to two separate offences. the two charges can subsist in many cases. the effect of the explanation, as introduced by the finance act, 1964, and the deletion of the word 'deliberately', was that the onus had been shifted from the department to the assessee. the explanation amounts to a ..... april 1, 1964, mere furnishing of inaccurate particulars attracted the levy of penalty. explanation 1 had also been inserted earlier by the finance act, 1964, but was substituted by the taxation laws (amendment) act, 1975, with effect from april 1, 1976. the provision as it existed in the relevant assessment year 1976-77 can be divided .....

Jodhani Nina Pitamber Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (1982)1ITD332Indore

..... ), it would be clear that the word winnings should be assigned to the meaning of chance winning and not winning a prize.8. prior to the amendment of section 10(3) by the finance act, 1972, the persons who had this kind of windfall from lotteries, crossword puzzles, races including horse races, card games, etc., were completely free from having to ..... in its general connotation or within the extended meaning given to the term by the income-tax act.according to the learned counsel for the assessee, this circular was issued in 1972, i.e., after section 10(3 ) of the act was amended by the finance act, 1972. since the said circular letter is beneficial to the interest of the assessee, the income ..... was not taxable.2. the ito was not satisfied with the said explanation. according to him the said receipt is an income as defined in section 2(24) (ix) of the income-tax act, 1961 ("the act"). after giving an exemption of rs. 1,000, the ito taxed the balance of rs. 29,000 in the hands of the assessee.3. .....

Commissioner of Income-tax Vs. Satpal Vijay Kumar and ors.

Court : Madhya Pradesh

Reported in : [1997]226ITR449(MP)

..... [1991]189itr70(patna) , and thus affirmed the orders passed by the commissioner of income-tax (appeals). section 43b was inserted by the finance act, 1983, with effect from april 1, 1984. the proviso to this section was inserted by the finance act, 1987, with effect from april 1, 1988. the tribunal, however, held that the amendment was declaratory ..... in nature and was available for being applied retrospectively. it, therefore, held that the amended provisions of section 43b were applicable to assessments for the ..... the hon'ble court.'4. briefly stated, the facts of the case are that the assessing officer made additions of certain amounts in terms of section 43b of the act. in appeals, the commissioner of income-tax (appeals) deleted the addition. the department then filed appeals before the tribunal. the tribunal held .....