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Commissioner of Income-tax, Karnataka-ii Vs. Sheshappa Hegde

Court : Karnataka

Reported in : (1984)39CTR(Kar)174; [1984]150ITR164(KAR); [1984]150ITR164(Karn)

..... if the finance act has not year been passed, it is the rate proposed in the finance bill pending before parliament or the rate in force in the preceding year, whichever is more favourable to the assessee ..... if the finance act is passed, it is the rate fixed by that act. ..... 41(2) was not sustainable in law and it cancelled the direction to modify had not been determined under the acquisition act during the accounting year and it was, therefore, not open to the ito to make any assessment under s. 41(2) ..... 6 of the acquisition act thus becomes due only on its determination by the arbitrator appointed for that purpose and as per law. 15 ..... 6 of the acquisition act is thus required to be determined and quantified under an award by the arbitrator and it becomes due only after such determination. 10 ..... 12 of the acquisition act, an appeal is provided to the high court by any person aggrieved by the said award. 9 ..... 6 of the acquisition act and it provides : 7 ..... 6 of the acquisition act and brought the excess to tax under s ..... 1976, (karnataka act 21 of 1976) (hereinafter referred to as 'the acquisition act'). ..... of 1976), which was later replaced by the karnataka contract carriages (acquisition) act. ..... act, 1961, cannot be computed for the assessment year 1976-77 ?' ..... act, 1961, at the instance of the revenue, is as follows : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is right in holding that the 'money payable' on acquisition of motor vehicles under the karnataka .....

Xiaomi Technology India Private Limited Vs. Union Of India

Court : Karnataka

..... the original provision prior to amendment vide finance act, 2015 and finance (no.2) act, 2019, took within its sweep any property (mentioned in section 2(1)(v) of the act) derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence (mentioned in section 2(1)(y) read with schedule to the act) or the value of any such property. ..... of the past conduct of the dealer and on the basis of some reliable information that the dealer is likely to defeat the claim of the revenue in case any order is passed against the dealer under the vat act and/or the dealer is likely to sale his properties and/or sale and/or dispose of the properties and in case after the conclusion of the assessment/reassessment proceedings, if there is any tax liability, the revenue may not ..... thereafter, the adjudicating authority shall pass appropriate directions in the adjudication order with regard to further action as regards the seizure made under sub-section (1): provided that if, at any stage of the proceedings under this act, the aggrieved person discloses the fact of such foreign exchange, foreign security or immovable property and brings back the same into india, then the competent authority or the adjudicating authority, as the case may ..... union of india, (1972) 2 scc788 , where this court held that the impact and not the object of the measure will determine whether or not, a fundamental right is violated. .....

Chairman, Cbec and ors. Vs. Davangere Cotton Mills

Court : Karnataka

Reported in : 1996(63)LC244(Karnataka); ILR1995KAR2690; 1995(5)KarLJ277

..... for recovery of sums due to the government and inter alia sets out that in respect of a duty and any other sums payable to the central government under any of the provisions of the act or the rule s, the officer can recover the amount by attachment and sale of excisable goods belonging to the assessee and in case the amount i& not so recovered then the officer can issue ..... rule 49 a was inserted by finance act, 1982 with the object of avoiding separate payment of duty twice by the same manufacturer when the yarn manufactured in the factory is consumed in the factory itself for manufacture of cotton fabrics.chapter ..... till the disposal of the petition.the petition was then amended and the constitutional validity of rule s 9 and 49 of central excise rule s, 1944 (hereinafter referred to as 'the rule s') and section 51 of finance act, 1982 was challenged. ..... rule 49a inter alia provides that where a manufacturer who manufactures cellulosic spun yarn falling under item 18-iii(1) of the first schedule to the act and uses the whole part of the yarn so manufactured in the manufacture of cotton fabrics in his own factory, can make an application to the collector and the collector may permit the manufacturer ..... validity of rule s 9 and 49 as amended by finance act. ..... was further contended that the assumption of the learned single judge that the provisions of section 11a of the act are attracted to the demand made is erroneous, and indeed section ha had no application whatsoever to the facts .....

Commissioner of Income-tax Vs. Datacons (P.) Ltd.

Court : Karnataka

Reported in : (1985)47CTR(Kar)162; ILR1985KAR1109; [1985]155ITR66(KAR); [1985]155ITR66(Karn)

..... union of india [1981] 47 stc 124, wherein it was observed : 'this word has not been defined in the act and it must therefore be interpreted according to its plain natural meaning. ..... act, 1961, and the question of law referred is : 'whether, on the facts and in the circumstances of the case, the appellate tribunal is correct in law in treating the assessee either as a manufacturer of goods or as engaged in the processing of goods within the meaning of section 2(7)(c) of the finance (no. ..... 2(7)(c) of the finance (no. ..... 2(7)(c) of the finance (no. ..... 2(7)(c) of the finance (no. ..... act of 1922. 9. ..... 2) act, 1977, has to be understood in its plain natural meaning. ..... ) 2) act, 1977, to mean : ''industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining.' 6. ..... 2) act, 1977. ..... 2) act, 1977 ?' 2. .....

Mangilal S. JaIn Vs. Cit and anr.

Court : Karnataka

Reported in : (2002)175CTR(Kar)347

..... law for the time being in force, the amount payable under this scheme by the declarant shall be determined at the rates specified hereunder, namely :(a) where the tax arrear is payable under the income tax act, 1961 (43 of 1961),(i) in the case of a declarant, being a company or a firm, at the rate of thirty-five per cent of the disputed income;(ii) in the case of a declarant, being a person other than a company or a ..... the issue, detailed reference to the relevant provisions of the kvs scheme contained in the finance act, as also the clarification given by the central board of direct taxes will be ..... relation to an assessment year, is defined in clause (e) of section 87 of finance act as 'whole or so much of the total income as is relatable to the ..... the effect of section 88(a)(iii) of finance act is that notwithstanding anything contained in the income tax act, the amount payable under the kvs scheme by a declarant (other than companies and firms), who files declaration between 1-9-1998, and 31-1-1999, shall be 30 per cent of disputed income ..... intimation dated 19-2-1999, under section 90(1) of the finance act, in regard to the declaration filed by the ..... examined not with reference to section 140a of the income tax act, but with reference to the provisions of kvs scheme, as contained in chapter iv of finance (no, 2) act, 1998. ..... act, 1998 (hereinafter referred to as 'the finance act ..... income tax act will not apply for the following two reasons :(i) the provisions of section 88 of finance (no. .....

Punjab National Bank Industrial Finance Branch Represented by Its Agm ...

Court : Karnataka

Reported in : AIR2007Kant9; [2006]134CompCas456(Kar)

..... to test the legitimacy of such a measure relating to financial policy.it provides that a secured creditor may enforce any security interest without intervention of the court or tribunal irrespective of section 69 or section 69-a of the transfer of property act where according to sub-section (2) of section 13, the borrower is a defaulter in repayment of the secured debt or any installment of repayment and further the debt standing against him has been classified as a non-performing asset by the ..... steps contained under sub-section (4) of section 13.we are holding that it is necessary to communicate the reasons for not accepting the objections raised by the borrower in reply to notice under section 13(2) of the act, more particularly for the reason that normally in the event of non compliance with notice, the party giving notice approaches the court to seek redressal but in the present, case, in view of section 13(1) of ..... it will only be in fulfillment of a requirement of reasonableness and fairness in the dealings of institutional financing which is so important from the point of view of the economy of the country and would serve the purpose in the ..... 2661 has held as under:some facts which need be taken note of are that the banks and the financial institutions have heavily financed the petitioners and other industries. ..... economy it may be difficult to stick to old and conventional methods of financing and recovery of dues. ..... liquidity of finances and flow of money is essential for any .....

Premier Associates Vs. The Assistant Commissioner of Service Tax,

Court : Karnataka

..... 105(e) and clause 106 of the finance act, 2013 (act) of vces, 2013 only stipulates that the tax due for the period from 1st october 2007 to 31st december 2012, which was due and not paid as on 1st march 2013, was required to be paid by the petitioner and that no notice or order of determination under section 72 or section 73 or section 73a of the said act would have been initiated against the ..... 28-11-2017 w.p.no.3824/2016 5/16 form vces-1 dated 31-12-2013, in terms of section 106(2) read with section 106(1) of finance act, 2013 (17 of 2013), chapter vi, service tax voluntary compliance encouragement scheme, 2013. 2 ..... 28-11-2017 w.p.no.3824/2016 7/16 affect the case of the petitioner, as no determination of interest and penalty for the said period was made against the petitioner as per chapter-v of the finance act, 1994, before rejecting the declaration under vces, 2013.5 ..... 2017 w.p.no.3824/2016 4/16 tax dues have been paid prior to the enactment of the scheme, any liability of interest or penalty thereon shall be adjudicated as per the provisions of chapter v of the finance act, 1994 and paid accordingly ..... tax due or payable under the chapter or any other amount due or payable under section 73a thereof, for the period beginning including a cess leviable thereon under any other act for the time being in force, but not paid as on the 1st day of march, 2013 ..... and customs represented by its chairman department of revenue, ministry of finance government of india, north block, new delhi 110001.4. .....

Shri Baburao S/o Hemachandrappa Kalal Vs. Shri S M Ravindrashetty S/o ...

Court : Karnataka Dharwad

..... khc-d:5470 crl.p no.100478 of 2023 m/s shankar finance & investments, a sole proprietary concern represented by its proprietor atmakuri shankara rao or atmakuri shankara rao, sole proprietor of m/s shankar finance & investments, represented by his attorney holder thamada satyanarayana or m/s shankar finance & investments, a proprietary concern of atmakuri shankara rao, represented by ..... the co-ordinate bench further held that in a proceeding under section 138 of n.i act, the arraying of a proprietor as an accused or a proprietary concern represented by the proprietor would be sufficient compliance with the requirements ..... in a criminal complaint relating to an offence under section 138 of the act, it is permissible to lodge the complaint in the name of the ..... the order dated 18.07.2018 and proceedings in c.c.no.407/2018 pending on the file of the civil judge and jmfc, huvinhadagali registered for offence punishable under section 138 of the negotiable instruments act, 1881 (hereinafter referred to as the n.i act , for brevity) against the petitioner accused.2. ..... as contrasted from a company incorporated under the companies act, 1956 which is a legal entity distinct from its shareholders, a proprietary concern is not a legal ..... no.79/2017 and quash the criminal proceedings pending on the file of court of civil judge and jmfc, huvinahadagali in c.c.no.407/2018 arising out of pcr no.79/2017 for the alleged offences p/u/s138of ni act in petitioner/accused, in the interest of justice and equity. .....

M/S Kotarki Constructions pvt.ltd. Vs. The Asst. Commissioner of Incom ...

Court : Karnataka

..... the contention of the learned counsel for the revenue mr.e.i.sanmathi is that the explanation substituted by the finance act, 2001, with retrospective effect from 01.04.2000 per se confers jurisdiction upon the assessing authority to reopen the concluded and considered assessment orders in such cases ..... certificates issued by the concerned executive engineers of the national highway divisions of public works department and others, and allowed the said claim of the deduction under section 80-ia(4) of the act, partly to the extent of 68.75% against the claim of the petitioner-assessee, and disallowed the remaining part on the ground that some of the works contracts were only for improvement ..... explanation provided below section 80-ia inserted by finance act, 2007 and later substituted by the finance (no.2) act, 2009 w.e.f.1-4-2000 clearly states that business in the ..... income tax & another 21/28 double deduction in the hands of principal contractors and sub- contractors could not have been allowed by the legislature u/s.80-ia(4) of the act and that is why the said explanation restricting the deduction of section 80-ia(4) of the act only to the principal works contractor of development of infrastructure facility which included laying of additional lanes by road widening as clarified by cbdt, could not have been ..... by the cbdt, the assessing authority intends to deny the said claim under the sway of the word works contracts as employed in the explanation inserted by the finance act, 2007. .....

Devas Multimedia Private Limited Vs. The Principal Commissioner of Inc ...

Court : Karnataka

..... 144c was inserted in the act by the finance act, 2009 and came into ..... this background, where assessment order has attained finality and respondent/principal commissioner is not permitted to invoke section 263 of act 1961 or not, sub-clause (c) of explanation 1 of section 263 of act 1961 stipulates that there is a prohibition in respect of a particular circumstance, where respondent/principal commissioner shall not invoke section 263 of act 1961 whereas similar clause is not forth coming in respect of the matter examined by drp against draft assessment order ..... 'record' is defined under section 263 explanation (b) to "include and shall be deemed to always to have included all records relating to any proceedings under this act" available at the time of examination by the commissioner and the approval under section 158bg also being part of the record the order under section 158bc, we agree ..... shri udaya holla, learned senior counsel for petitioner vehemently contended that principal commissioner of income tax has no jurisdiction to invoke section 263 of act 1961 in issuing notice to the petitioner on 08.02.2016 in respect of assessment order for the year 2009-10 which has attained finality by the ao in ..... for the respondent sri k v aravind vehemently contended that contention of the petitioner that respondent has no jurisdiction to invoke section 263 of act 1961 in respect of assessment order which was pursuant to the drp decision and further, its acceptance by the ao is without any legal .....