Court : Madhya Pradesh
Reported in : (2005)197CTR(MP)683; [2005]275ITR352(MP)
..... the purpose of business or profession and no deduction or allowance shall be made in respect of such expenditure.'8. the aforesaid explanation was inserted by the finance (no. 2) act, 1998, retrospectively with effect from april 1, 1962. in fact, the need to introduce the explanation arose on account of the decision rendered by the ..... the tribunal committed an error of law when they placed reliance on a decision of piara singh : [1980]124itr40(sc) as also the speech of the finance minister gave on the floor of the house of parliament at the time of introduction of the explanation appended to section 37. in this case, both these ..... laboratory to manufacture heroin powder along with several contraband drugs were recovered. all these contraband articles were seized and proceedings under the narcotic drugs and psycho-tropic substances act, 1985, were initiated against the assessee. we are not concerned with these proceedings.4. so far as the proceedings under the income-tax are concerned with .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1983)37CTR(MP)232; [1983]143ITR590(MP)
..... council was applied by the supreme court in mrs. bacha f. guzdar v. cit : [1955]27itr1(sc) . the word 'derived' in section 2(5)(i) of the finance act must be similarly construed. applying the test laid down by the privy council, let us examine as to what is the source of the profits resulting from the import entitlements ..... of the case, whether the tribunal was right in rejecting the applicant's claim that for the purpose of computing the tax deduction under section 2(5) of the finance (no. 2) act, 1962, in accordance with rule 2(3) of the income-tax (determination of export profits) rules, 1962, the direct incentives and benefits to which the applicant ..... art silk fabrics and of exporting its goods outside india. the questions in this reference relate to calculation of tax deduction allowance under section 2(5) of the finance (no. 2) act, 1962. the ito in calculating the value of the turnover of exports for computation of qualifying income, under rule 2(3) of the income-tax (determination of .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 1999(158)ELT439(MP)
..... 11ab has clearly laid down that the provisions of sub-section (1) shall not apply to cases where duty became payable before the date on which the finance (no. 2) act received the assent of the president and a circular dated 6th jan., 1997 has also been issued by the central board of excise and customs to all commissioners ..... writ of certiorari quashing the proceedings initiated by the respondent no. 3. 3. sections 11ab and 11ac were introduced by finance (no. 2) act, 1996 (33 of 1996) with effect from 29th september, 1996 in the central excise act, 1944. section 11ab relates to interest on delayed payment of duty and section 11ac relates to penalty for levy or ..... whereby attention of all the commissioners has been drawn to the fact that the provisions are prospective and not retrospective. since the provisions of the act and the circular of the board leave no manner of doubt about the interpretation of the provisions, it would be futile exercise for us to embark upon the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1983]140ITR374(MP)
..... but not including jewellery' were retrospectively added with effect from 1st april, 1963, and the explanation. was added with effect from 1st april, 1972, be the same finance act in section 5(1)(viii) gives out the clear intention of parliament that the wider meaning of the word 'jewellery' as contained in the explanation, was not to ..... for personal use of the assessee or not. to obviate the effect of this decision, parliament amended section 5(1) by the finance (no. 2) act of 1971. the first material amendment made by this act was the addition of the words 'but not including jewellery' in clause (viii) with retrospective effect from 1st april, 1963. another ..... for personal or household use of the assessee, but not including jewellery.'3. the explanation referred to above, which was also added to clause (viii) by the same act with effect from 1st april, 1972, is as under :'explanation 1.--for the purpose of this clause and clause (xiii), 'jewellery' includes--(a) ornaments made of gold .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : 2001(75)ECC250; 2001(5)MPHT519
..... a petition arising out of a claim of interest claimed on delayed refund made after the insertion of section 11bb of section 75 of the finance act, 1995 (22 of 1995) in the act, no benefit can be extended to petitioner of this newly inserted section which has a prospective operation.11. in view of aforesaid discussion, i ..... court, gujrat, 1980 elt (437) vallabh glass works co. ltd. v. union of india, hc gujrat, 1985 (19) elt 3 (sc) elpro international v. joint secretary, ministry (finance), 1986 (26) elt 298 (cal) dilichand shreelal v. collector of central excise, 1986 (25) elt 939 (cal) calcutta paper mills mfc v. customs excise and gold (control), 1987 ..... the relief of payment of interest on delayed refund of the amount paid by the assessee towards the custom duty, redemption, fine and penalty under the custom act was maintainable?after posing the aforesaid question, their lordships then examined the issue in the context of earlier decision of apex court and eventually held that no writ .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1977MP217
..... management or business of the society between a member and the society has arisen in the present case within meaning of section 64 (1) of the act.6. section 2 (1) of tihe act defines a 'financing bank' as a society the objects of which include the creation of funds to be lent to other societies or its individual members, and includes a ..... from the respondent-society, the petitioner disputed the correctness of the order of expulsion under section 64 (1) of the act, before the assistant registrar, co-operative societies -- the second respondent herein. the assistant registrar decided the dispute on november 13, 1968 in favour of the petitioner-anant holding the expulsion order to be wrongful. the first respondent-society preferred an appeal .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2000]244ITR542(MP)
..... entitled to a final order in their favour under the scheme.2. in the opinion of this court, if the provisions of the kar vivad samadhan scheme issued under the finance act are read in their true perspective, the same would show that a person for settlement of tax or for settlement of the dues may make his submission along with the .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : AIR1968MP140; (1969)ILLJ844MP; 1968MPLJ217
..... 20th may 1967 still continued to prevail.6. shri dabir, learned counsel for the corporation, did not dispute that the instructions issued by the finance department, the ordinance and the act replacing it were not by their own force applicable to the employees of the corporation. he, however,said that according to the bye-law ..... (1).14. for the foregoing reasons, this petition is allowed and the respondents are restrained from retiring the petitioner in terms of the instructions of the finance department or in pursuance of the communication addressed to him on 6th november 1967 by the secretary of the municipal corporation. the petitioner shall have costs ofthis ..... .5. it was argued by shri gulab gupta learned counsel appearing for the petitioner, that neither the instructions issued by the finance department of the state government, nor the ordinance, nor the act replacing it were proprio vigors applicable to the employees of the municipal corporation: that so long as the bye-law notified on .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [2000]246ITR363(MP)
..... officer under sub-section (1) of section 132 before he takes search and seizure action under clauses (i) to (v) of that sub-section .17. the finance act, 1988, further amended sub-section (1a) to specially mention deputy director and assistant director also in the sub-section , eliminating any doubt in the matter and in ..... nation to show at what cost/sources he constructed the house and after full fledged enquiry and deliberation and clearance from the authorities under the income-tax act, the finance minister on march 10, 1992, made the statement that the high court of madhya pradesh in its judgement dated january 20, 1989, in the case ..... established practice and procedure, was replied to by making the following statement on the floor of the house on march 10, 1992, by the minister of state (finance) after gathering all necessary facts, making necessary enquiries and having clearance from the highest authority under the department of income-tax :'the high court of madhya pradesh .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1975]35STC298(MP)
..... in any law in force in that state.21. previously, the rate mentioned in this section was 2 per cent, while the words 'three per cent' were substituted by the finance act no. 13 of 1966, with effect from 1st july, 1966. therefore, prior to 1st july, 1966, if a state law imposed sales tax on declared goods, it could in no ..... , sugar was originally denned in item no. 8 of the schedule to mean 'any form of sugar containing more than ninety per cent sucrose'. by the finance act, 1961, sugar now find place in item no. 1 which defines sugar substantially in the same terms to mean 'any form of sugar in which the sucrose content, if expressed ..... , remained in force it was not liable to any taxation under either the v. commercial tax officer (1963) 67 c.w.n. 1102 was notbengal finance (sales tax) act, 1941, or the west bengal sales tax act, 1954. the learned judge followed the supreme court case of state of gujarat v. sakarwala brothers [1967] 19 s.t.c. 24 (s.c.), as also .....
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