Judgment Search Results Home > Cases Phrase: finance act 1970 chapter i preliminary Court: mumbai Page 73 of about 748 results (0.057 seconds)

Mid East Port Folio Management Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD537(Mum.)

..... principles/for the board's finance. it inter alia says that the board shall carry on its operations and adjust its tariffs so ..... for the assessee, it is not retrospective since, it does not specifically say so. according to para. 29.2 of the memorandum explaining the provisions of the finance (no. 2) act, 1996, the explanation will apply in respect of slb transactions made on or after the first day of october, 1996, since the provision has not been ..... 59 r/w section 63 of the electricity (supply) act, 1948. mr. das has also stated so in answer to q. no. 3 in the statement recorded under section 131. we have consulted these provisions. they appear in chapter vi of the aforesaid act, which is titled, "the board's finance, accounts & audit", section 59 lays down the general .....

Prabhakar Dattatraya Gune and Others Vs. Vishnukant Bapurao Urankar an ...

Court : Mumbai

..... for providing permanent basis for the indian monetary system and to make provisions for monetary standard best suited to india that the act was enacted. the act contains several provisions and devided so also spread over chapters so as to enable the establishment and incorporation of a reserve bank, providing for its banking function, collection and furnishing credit ..... court cannot be assailed on the ground that certain aspects were not considered or the relevant provisions were not brought to the notice of the court (see air 1970 sc 1002 and air 1973 sc 794). when supreme court decides a principle it would be the duty of the high court or a subordinate court to ..... ), pune on the ground that he was the director of kirloskar investment and finance ltd. (for short kifl ) which was a non banking financial company (for short nbfc ) regulated and controlled under chapter iiib of the reserve bank of india act 1934 and the same is under liquidation at the instance of the reserve bank of india in .....

M/S.M. Visvesvaraya Industrial Research and Development Centre Vs. the ...

Court : Mumbai

..... be transactions of lease. the tribunal held that there are no special modes of assessment prescribed based on whether the transaction is a sale or lease; that chapter-iv of the act which relates to the computation of total income does not draw any distinction as such between a sale and a lease and the classification therein is under the ..... and parking space rent. we will refer to the relevant provisions of the lease agreements at the appropriate stages. 11. as stated earlier, the recognition granted on 6th april, 1970, under section 35(i)(ii) was withdrawn with effect from 31st march, 1981, in circumstances we will mention while answering question 1. 12. on 8th february 1984 the ..... of establishing a world trade center in mumbai. they convened a meeting of prominent industrialists in mumbai on 14th april, 1969 under the presidentship of the then finance minister of the government of maharashtra. this led to the formation of the assessee as a company under section 25 of the companies .....

Devidayal (Sales) (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1988)26ITD397(Mum.)

..... be clear if the scheme of the act as it now stands after the introduction of chapter vi-a is considered.sections 81 to 85c were deleted by the finance (no. 2) act, 1967 with effect from 1-4-1968. the present chapter vi-a was substituted by the same finance (no. 2) act, 1967. the main scheme of this chapter was that it provided for straight ..... derived from an industrial undertaking or business of a hotel or from a ship to which this section applies shall be computed in accordance with the provisions contained in chapter iv-d. chapter iv-d as it existed then and it exists now provides for the manner in which the profits and gains of business are to be computed from sections ..... a new industrial undertaking within the meaning of section 84 (as it then was), was exempt from tax under section 85.the ito passed the assessment order on 20-3-1970. in the computation of income, he included dividend income of rs. 4,15,523 along with an item of income from other sources amounting to rs. 3,90,000 .....

Rajesh Tarachand Sajdeh Vs. Collector of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1983)LC427DTri(Mum.)bai

..... has been extended to 6 months under notification g.s.r. 593 (e) dated 11-10-82 issued under section 50 of the finance (no. 2) act, 1980. from the ministry's letter dated 2-11-82 submitted by the advocate, it is seen that the revision petition was received ..... in the ministry on 25-10-82 by which date new chapter xv of the customs act had already come into existence under notification no. g.s.r. 597 (e) dated 11-10-82 and g.s.r. 595 ..... s decisions in the case of ram chandra mehta v. the state of west bengal (1969) 2 s.c.r. 461, a.i.r. 1970 s.c. 940 and in the case of percy rustomji basta v. the state of maharashtra a.i.r. 1971 s.c. 1087 can be ..... opposed the submissions of the advocate on the grounds that the original statement dated 14-8-80 was recorded under section 108 of the customs act. under provisions of this law, the person summoned was bound to state the truth and therefore the statement dated 14-8-80 was correct .....

Reliance Industries Limited Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1987)(11)LC287Tri(Mum.)bai

..... may appeal to the (a) a decision or order passed by thecollector of central excise collector of central excise asan(appeals) [hereinafter in this adjudicating authority;chapter referred to as thecollector (appeals)] within 3 (b) an order passed by the collectormonths from the date of (appeals) under section 35a;communication to ..... that order of the bench it is stated the expression 'adjudication' merely means 'judgment' or 'decision'. this 'judgment' or 'decision' must be under the act the 'judgment' or 'decision' implies adjudication of dispute by a judicial process in the matter of adjudication the collector exercises the power of a quasi-judicial authority ..... of that section the collector and others who have been authorised under that section would not have the power to adjudge confiscations and penalties. under the act the adjudication is not limited to confiscation and penalties. we have seen the definition of adjudicating authority. we have also considered the meaning of adjudication. .....

Asian Paints (India) Ltd. Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1988)(15)ECC189

..... (1979) elt-j 307 in the case of jay engineering works ltd. balanagar, hyderabad v. government of india, ministry of finance, department of revenue and insurance, new delhi and ors. the said paragraph is reproduced below:-- 13. rule 10 provides for, ..... ) elt 358 in the revision application filed by petco industries in which it was held that if the requirements of chapter x procedure were followed in substance to the satisfaction of the central excise authorities as envisaged by notification no. 154 ..... a new proceeding and not a continuation of the original proceedings. he referred to mosley and whitley's law dictionary 1970, 8th edition, page 105 for the true meaning of "de novo" proceedings.relying on this authority, shri rajagopalachari contended ..... hold the view that the expression "legal proceedings" appearing in section 40(2) of the central excises & salt act does not include adjudication proceedings under the central excise laws.13. in the cross-objection the collector has stated that the .....

Surendra M. Khandhar Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... , as the case may be. the question is, how the burden can be discharged the rules of evidence pertaining to burden of proof are embodied in chapter vii of the evidence act. the phrase "burden of proof" has two meanings - one the burden of proof as a matter of law and pleading and the other the burden ..... dated 18-12-1991 recorded from the assessee at his residence at matunga, the assessee clearly admitted that he looked after administrative matters and also the mobilisation of finance of the entire group of his family, and as already mentioned, the group included eshita dye chem, in the course of the search of which concern annexure ..... international indian bank, mandvi branch. (3) eshita strap mfg. co. indian bank, mandvi branch. (4) k. bipinkumar & co. co-op. bank of ahmedabad, (5) d.k. investment & finance indian bank, mandvi branch. (6) khandhar engg. works indian bank, mandvi branch. (7) eshita electronics indian bank, mandvi branch. (8) h.p.s. international state bank of saurashtra (9) .....

The Dcit Vs. Koatex Infrastructure Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)100ITD510(Mum.)

..... of section 158bc. (2) the assessing officer or the commissioner (appeals) in the course of any proceedings under this chapter, may direct that a person shall pay by way of penalty a sum which shall not be less than the amount of ..... , we offer the following additional income for the block period:___________________________________________________________________particulars a.y 1998-99 a.y 1999-2000___________________________________________________________________dis-allowable finance charges 68,30,970/- 98,48,354/-___________________________________________________________________transport charges 6,51,360/- nil___________________________________________________________________total 74,82,330/- 98,48,354/-___________________________________________________________________ ..... assessee and the one determined by the a.o, ld. a.o issued notice under section 158bfa(2) of the act, inviting respondent's explanation as to why the penalty be not imposed. the assessee filed a detailed reply vide letter .....

Sophisticated Marble and Granite Vs. Commissioner of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2004)(165)ELT353Tri(Mum.)bai

..... case of akash stone industries (supra), i must point out that he has overlooked a very specified and relevant guideline contained in the said central appraising manual, volume v, chapter 3, para 4 (bb), which reads as follows :- "the fine has to be equal to the norm or the margin of profits whichever is higher." it is, ..... viable to do so and thus was making a profit. he emphasized that the provisions of the central appraising manual, which the bench had earlier cited, provided in 1970 that basic articles for which the fine would be 25%, did not include marble. the basic articles listed therein were machinery used in specified industries and specialized raw ..... and was permitted to clear them presumably on the basis of penalty lower than that imposed now. it is thus clear that the fine imposed earlier has not acted as deterrent to further imports by nullifying any gain made from illegal imports. the same consideration, the fact that the previous levels of penalty have failed to deter .....