Court : Mumbai
Reported in : AIR1984Bom181; (1983)85BOMLR56; ILR1983Bom1222
..... it is pertinent to note that clause (j) was added to section 3 of the i.d.r. act by the same amending act by which section 18-aa and chapters iii-aa and iii ac which deal with undertakings owned by companies were added. in the context also it could ..... civil suit no 9 of 1974 during the argument of shri r,n, pendharkar, the receiver and till be he vacated his office in june 1978 tuned to approximately rs. 40.00.000|- thus the liabilities so far financial in nature worked out to approximately rs. 1,17.00.000|- ..... difficult to run it. copies of these reports are at annexure b to h and j,k and m to q on 21-9-1978 the civil court had passed an order authorising the receivers to raise a loan of rs. three lakhs copy of this order of is ..... 1 and one s.p. gharpure came to the be appointment as joint received on or about 9-8-1978. within a few days of his appointment gharpure resigned on 21-8-1978 and one h. a. knan. joint receiver along with petitioner no. 1 . these two receivers were functioning .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(6)ALLMR229; 2006(6)BomCR135; 2007(207)ELT496(Bom)
..... the entire auxillary duty of the customs which would be leviable under sub-section (1) of section 49 of the finance act, 1986 and (c) additional duty leviable under section 3 of the customs tariff act, 1975. it is material to note that this exemption order specifically stated at the foot thereof that no import licence ..... control order dated 15th april 1983. prior thereto, he had applied for exemption order on 23rd september 1982. on the queries raised by the ministry of finance, he was required to give a medical examination report and file his tax report. the petitioner submitted all the necessary documents and complied with the requisitions.5 ..... services. but, by a subsequent letter, the government directed uppsc not to make such reservations in 'recruitment on the basis of combined state services examination, 1978'. the apex court has observed as follows:the necessity of making appointment of physically handicapped persons to the reserved post was impressed upon all the secretaries, heads .....
Tag this Judgment!Court : Mumbai
Reported in : 1986(2)BomCR455
..... now made clear by virtue of an 'explanation' which has been added to section 4(4)(d)(ii) with retrospective effect from 1st october, 1975 under section 47 of the finance act of 1982. the explanation sets out what is meant by 'the amount of duty of excise payable on any excisable goods.' by 'the amount of the duty of excise' ..... which is directly in issue in our case.11. shri bobde has placed the copy of the judgment of the karnataka high court, disposing of writ petition no. 3548 of 1978 and writ petition no. 4766 of 1981 on 3rd october, 1985, : 1986(23)elt48(kar) . in this case the collector of central excise had issued a trade notice purporting ..... carrying on its business of spinning, weaving and manufacturing of cloth at nagpur. it is popularly known as 'empress mills, nagpur'. since about november, 1978 the petitioner established at nagpur a division known as paper division where the petitioner manufactures kraft paper. the kraft paper is classified for the purpose of central excise duty .....
Tag this Judgment!Court : Mumbai
Reported in : 1997(4)ALLMR306
..... secretary of the bifr would be tantamount to pendency of an inquiry. 21. for that purpose, it is expedient to peruse some of the provisions of chapter 111 of the sick industrial companies act which deal with reference, inquiry etc. section 15 deals with reference to the board. it provides for making of a reference to the board where ..... board, formed on an application of mind to the reference or the information, that the case is a fit one to make an inquiry. this is also clear from chapters ii and ill of the bifr regulations. regulation 19 deals with reference under section 15. it provides for filing of the reference, scrutiny of the same by the ..... of the said act would come into operation. the contention, in other words, is that the inquiry under section 16 commences as soon as a reference under section 15 is registered and remains pending till it is concluded. reliance is placed in support of this contention on the decision of the allahabad high court, in industrial finance corporation of .....
Tag this Judgment!Court : Mumbai
Reported in : 1982(2)BomCR299
..... came under the control of the government of india by addition of item no. 27 to schedule iv of the said act. as per the provisions of section 10 of the said act which occurs in chapter iii dealing with regulation of a scheduled industry, the wheat flour mills now have been added in scheduled industry. the ..... on july 14, 1980 that even flour mill units which have already been established but the production of which has not yet commenced on december 12, 1978 the state government should not issue the milling licence until and unless the administrative clearance from the department of food, government of india has been actually obtained ..... has not commenced, the state governments should not issue the milling licence until and unless the unit obtains a license under the industries (development and regulation) act.'8. the learned assistant government pleader, therefore, contends that notwithstanding the fact that the respondents have issued the permission to the petitioners to install the machinery .....
Tag this Judgment!Court : Mumbai
Reported in : [1999]236ITR220(Bom)
..... rate of income-tax applicable to it. the rates of tax applicable for the assessment year 1971-72 are prescribed in the finance (no. 2) act, 1971 (hereinafter referred to as 'the finance act'). paragraph f of the finance act contains the rates applicable to 'companies' other than the life insurance corporation of india. for the purpose of rate of income-tax ..... attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter vi-a of the income-tax act) is not less than fifty-one per cent. of such total income; .... (e) all other words and expressions used in this section and ..... the assessee. the assessee appealed to the appellate assistant commissioner of income-tax who, by order dated march 7, 1978, decided in favour of the assessee and on an interpretation of section 108 of the income-tax act held that a subsidiary of a subsidiary also falls within the ambit of clause (b) of section 108 of .....
Tag this Judgment!Court : Mumbai
Reported in : 1995(2)BomCR404; 1995(1)MhLj448
..... or deduct no tax, as the case may be.' 4. this section was inserted for the first time by the finance act of 1972, with effect from april 1, 1972. in the memorandum explaining the provisions in the finance bill, 1972, it was stated that under the new section 194c, income-tax would be deductible at source from income ..... , architects, consultants, etc. however, services rendered for which payment is in the nature of salaries which is chargeable under the head of income'a. salaries' in chapter iv of the income-tax act, 1961, shall not be covered by section 194c. (ii) the term 'transport contracts' would, in addition to contracts for transportation and loading/unloading of goods, ..... 9. it may be pointed out that this appeal before the supreme court was by virtue of a special leave petition against the judgment in writ petition no. 2909 of 1978 of the patna high court in the case of associated cement co. ltd. v. cit : [1979]120itr444(patna) . the patna high court, while dismissing the writ .....
Tag this Judgment!Court : Mumbai
Reported in : (1994)120CTR(Bom)209; [1994]209ITR660(Bom)
..... or deduct no tax, as the case may be.' 4. this section was inserted for the first time by the finance act of 1972, with effect from april 1, 1972. in the memorandum explaining the provisions in the finance bill, 1972, it was stated that under the new section 194c, income-tax would be deductible at source for income ..... architects, consultants, etc. however, services rendered for which payment is in the nature of salaries which is chargeable under the head of income 'a. salaries' in chapter iv of the income-tax act, 1961, shall not be covered by section 194c. (ii) the term 'transport contracts' would, in addition to contracts for transportation and loading/unloading of goods, ..... section'. it may be pointed out that this appeal before the supreme court was by virtue of a special leave petition against the judgment in writ petition no. 2909 of 1978 of the patna high court in the case of associated cement co. ltd. v. cit : [1979]120itr444(patna) . the patna high court, while dismissing the writ .....
Tag this Judgment!Court : Mumbai
Reported in : (2003)183CTR(Bom)491; [2004]265ITR119(Bom); 2003(3)MhLj876
..... of section 234b and section 234c will not apply. we do not find any merit in this argument of the assessee. section 207 of the income-tax act falls under chapter xvii-c which deals with advance payment of tax. it states that tax shall be payable in advance during any financial year in respect of total income of ..... by the assessee were genuine or fake. the genuineness of the transactions was never challenged. the department has accepted that the assessee was in the business of leasing and financing and that, in the course of business, the assessee had leased out the vehicles to its customers/lessees. the vehicle are owned by the assessee. the assessee ..... no. 77 of 2002, which appeal was preferred by the assessee whereas, the present appeal is preferred by the department. facts: 2. the assessee is a leasing and financing company having its income from lease rent, bill discounting and service charges. during the course of hearing before the ao, certain issues were raised. one of the issues .....
Tag this Judgment!Court : Mumbai
Reported in : (1979)9CTR(Bom)62; [1980]121ITR442(Bom)
..... saying that it is the identical liability which is being provided for by a new rate or that this would merely constitute the finance act, 1965, a machinery provision like the usual finance acts for every year of account. here again, the allahabad high court seems to have missed or avoided giving consideration to certain provisions ..... allahabad high court. as regards the two amounts, which were subsequently disclosed under the voluntary disclosure scheme enacted and provided for by parliament u/s 68 of the finance act, 1965, but which amounts were originally concealed by the assessee, the allahabad high court observed as follows : 'now, admittedly, the assessee was in possession ..... according to this submission, the income-tax liability of the assessee was assessed and quantified in 1965 in the manner provided u/s 68 of the finance act which would qualify the amount paid as income-tax under the provisions as a deduction allowable, which deduction fell squarely within the ratio of the supreme .....
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