Court : Gujarat
Decided on : Jun-20-2003
Reported in : (2003)184CTR(Guj)312
..... bharat beedi works (p) ltd. and anr. v. cit : [1993]201itr1063(sc) .20. when section 40a(2) was introduced by the finance act, 1968, the cbdt issued an explanatory circular being circular no. 6-p(lxxvi-66) of 1968, dt. 6th july, 1968. para. 74 of the said circulars reads as under :'74. it may be noted that the new provision is applicable to all ..... that case related to asst. yrs. 1962-63 to 1965-66 whereas the provisions of section 40a were inserted by the finance act, 1968 w.e.f. 1st april, 1968. moreover, in the aforesaid case, the commodity in question was tobacco and the assessee had contended that it had paid higher price for better quality of tobacco. this court was ..... it is not possible to state that the tribunal was justified in invoking the provision of section 40a(2) of the act and disallow of 50 per cent of the expenditure. as can be seen from the circular dt. 6th july, 1968, issued by the cbdt when the provision of section 40a(2) is invoked the authority is expected to exercise his .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Decided on : Jan-29-2003
Reported in : (2003)(154)ELT187TriDel
..... the case of casino private limited is not applicable as kerala high court was interpreting the term 'manufacture' within the meaning of section 2(6)(d) of the finance act, 1968 and to examine whether the assessee is an industrial company within the meaning of the definition contained in that section. the kerala high court has also held in ..... ltd. is not applicable as the kerala high court was considering the question as to whether the assessee is an "industrial company" within the meaning of definition in the finance act, 1968. at this point of time, the learned advocate for m/s. connaught plaza, mentioned that he is not pressing the plea of manufacture.4.2 the learned sdr, ..... the product in question does not contain more than 5% of fat, it cannot be called "softy ice cream".3.3 the learned counsel also referred to is : 2802 -1968 'specification for ice cream' according to which milk fat per cent minimum is 10.0%; that according to book "ice cream" by robert t, marshall & w.s.arbuckle .....
Tag this Judgment!Court : Kerala
Decided on : Sep-01-2003
Reported in : (2004)186CTR(Ker)296; [2004]267ITR561(Ker)
..... such payments. in order to remedy such situation, section 40a was added by the finance act of 1968 and it came into force w.e.f. 1st april, 1968. while introducing the bill in the lok sabha for its consideration, the finance minister made a speech on 29th april, 1968, in which he pointed out that the provision in question was intended to serve ..... words 'such expenditure shall not be allowed as a deduction' were substituted by the words 'twenty per cent of such expenditure shall not be allowed as a deduction' by the finance act, 1995 w.e.f., 1st april, 1996. however, the second proviso to sub-section (3) states that no disallowance under this sub-section shall be made where any ..... crossed cheque drawn on a bank or by a crossed bank draft, such expenditure shall not be allowed as a deduction. here, it must be noted that as per finance (no. 2) act, 1996 the words 'ten thousand rupees' were substituted by 'twenty-five thousand rupees' w.e.f. 1st april, 1997. thus, at the relevant time (asst. yr. .....
Tag this Judgment!Court : Kerala
Decided on : Sep-01-2003
Reported in : [2004]134TAXMAN168(Ker)
..... payments. in order to remedy such situation, section 40a was added by the finance act of 1968 and it came into force with effect from 1-4-1968. while introducing the bill in the lok sabha for its consideration, the finance minister made a speech on 29-4-1968, in which he pointed out that the provision in question was intended to serve ..... 'such expenditure shall not be allowed as a deduction' were substituted by the words 'twenty per cent of such expenditure shall not be allowed as a deduction' by the finance act, 1995 with effect from 1-4-1996. however, the second proviso to sub-section (3) states that no disallowance under this subsection shall be made where any payment ..... cheque drawn on a bank or by a crossed bank draft, such expenditure shall not be allowed as a deduction. here, it must be noted that as per finance (no. 2) act, 1996 the words 'ten thousand rupees' were substituted by twenty five thousand rupees with effect from 1-4-1997. thus at the relevant time (assessment year 1990- .....
Tag this Judgment!Court : Karnataka
Decided on : Jul-14-2003
Reported in : 2003CriLJ4354; ILR2003KAR3452
..... give statement. it is no doubt true that though there is no certificate of fitness, if any corroborative piece of evidence is available even such evidence can be acted upon. in the present case, as already mentioned that none of the witnesses have spoken regarding the cause of death of the deceased shanthi. when the doctor has ..... the ingredients of section 32 of the evidence act and if the condition of the maker were to be certified by the doctor, such statements are admissible. in the present case, though it is stated by ..... doctor p. w. 2, sundar has not certified the condition and fitness of the deceased at the time of recording the statement and therefore, it cannot be acted upon. it is well settled principle that the statement of the deceased is admissible in evidence even without there being any corroborative piece of evidence if such statement fulfils .....
Tag this Judgment!Court : Mumbai
Decided on : Mar-05-2003
Reported in : (2003)180CTR(Bom)293; [2003]262ITR537(Bom)
..... gross receipt during the assessment year in question. mr. mistry submitted that it is true that subsequently, the legislature has introduced section 80aa by finance act no. 2 of 1980 with retrospective effect from 1st april, 1968. he contended that in this case we are also concerned with asst. yr. 1980-81, by which time, section 80aa was already in ..... . mr. mistry further contended that under the circumstances, the review petition ought to be dismissed.reasons7. we find merit in this review petition of the department. by finance (no. 2) act, 1980, which came into force w.e.f. 1st april, 1981, deductions under chapter vi-a were made relatable to the income included in the gross total ..... of income belonging to the specified category. on a bare reading of section 80-o along with section 80b(5), it is clear that even prior to the finance (no. 2) act, 1980, the parliament had clearly intended to say that what is included in the gross total income, was not only a specified category of income, but .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Mar-10-2003
Reported in : AIR2003SC1216; 2003(4)ALLMR(SC)316; JT2003(3)SC86; 2003(3)SCALE124; (2003)5SCC669; [2003]2SCR852; 2003(2)LC1427(SC)
..... conway brothers and savage v. mulhern and co. (limited) [vol.xvii (1900-1901) the times law reports 730] sub-section (1) of section 10 the finance act, 1901 interpretation whereof fell for consideration was in the following terms:'where any new customs import duty or excuse duty is imposed, or where any customs import duty or ..... distilleries pvt. ltd. : 1988(16)ecc176 while considering the validity of section 28(2) of the a.p. excise act, 1968 which is in pari materia with section 58 of the bombay prohibition act, observed:'...a predetermined amount equivalent to or even higher than the amount which is sought to be recovered by the appellant from ..... the respondent's factory premises and required the respondent to pay their salaries and allowances etc. in pursuance of section 28(2) of the andhra pradesh excise act, 1968. the respondent-distillery having failed to get any redress filed writ petition challenging the demand on various grounds. the contentions raised on behalf of the respondent- .....
Tag this Judgment!Court : Allahabad
Decided on : Sep-29-2003
Reported in : (2003)185CTR(All)1; [2004]265ITR224(All)
..... . in that event it could undoubtedly be treated as 'fringe benefit' or 'amenity' given to the employee.11. in view of section 17(2)(vi) which has been introduced by finance act, 2001, the earlier decision in the case of v.m. salgaocar & bros. (p) ltd v. cit : [2000]243itr383(sc) is not applicable in view of the specific provision of ..... as invalid or void as contended by the petitioner. hence, the writ. petition is liable to be dismissed and the provisions of section 17(2)(vi) of the it act as inserted by finance act, 2001, as well as rule 3 of the it rules framed in pursuance of section 17(2)(vi) by the board are legal and valid. similar view has ..... control in respect of the rule framed by the executive, and hence it cannot be said that it is unguided or excessive delegation vide delhi municipality v. union of india : [1968]3scr251 . hence, we are clearly of opinion that r, 3 framed under section 295 is not invalid on the ground of excessive delegation or violation of article 14 of the .....
Tag this Judgment!Court : Allahabad
Decided on : Sep-29-2003
Reported in : [2003]133TAXMAN482(All)
..... event it could undoubtedly be treated as 'fringe benefit' or 'amenity' given to the employee.15. in view of the section 17(2)(vi) which has been introduced by the finance act, 2001, the earlier decision in the case of v.m. salgaocar & bros. (p) ltd. v. cit : [2000]243itr383(sc) is not applicable in view of the specific provision of ..... 17(2)(vi) read with rule 3 of the rules.16. in view of the introduction of sub-clause (vi) of clause (2) of section 17 of the act by means of the finance act, 2001, and prescription of the interest-free loan or loans at the concessional rate of interest by the employer to its employees having been treated as a 'fringe ..... control in respect of the rule framed by the executive, and hence it cannot be said that it is unguided or excessive delegation vide delhi municipality v, union of india : [1968]3scr251 . hence we are clearly of the opinion that rule 3 framed under section 295 is not invalid on the ground of excessive delegation or violation of article 14 of .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Vizag
Decided on : Apr-21-2003
Reported in : (2004)88ITD322Visakha
..... by partner from the firm does not get treated as 'salary' for purposes of assessment. sub-section (v) to section 128 has been introduced by the same finance act, 1992 to include any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm from such ..... remuneration is disallowed for the following reasons :- a new scheme of taxation of firms and partners effective from assessment year 1993-94 has been introduced in the finance act, 1993. until and including assessment year 1992-93 firms were assessed as registered firms or unregistered firms. registered firms were taxed at concessional rates whereas unregistered firms ..... are amended by the finance act, 1992. hence, the contentions of the assessee that remunerations were paid to the individual status of the partners for the services rendered and are not distribution of the profits of the firm is not correct. v.d. dhanwatey v. cit [1968] 68 itr 365 (mp), cit v. kalu babu lal chand .....
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