Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: mumbai Page 79 of about 1,733 results (0.102 seconds)

First Global Stockbroking (P) Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2008)115TTJ(Mum.)173

..... findings. otherwise also each and every credit in the bank account appearing in regular books of the appellant is not the subject-matter of chapter xiv-b of the act, as discussed elaborately while adjudicating ground nos. 231 to 233. in view of the discussions held above, the impugned addition is deleted.on ..... components & appli- |3/3/2000| 1,42,675 | 1,050 | 149,808,750 || | ances (p) ltd. | | | | ||____|______________________________|________|__________|_________|_______________||7 | top gear leasing & finance |3/3/2000| 70,125 | 1,050 | 73,631,250 || | (p) ltd. | | | | ||____|______________________________|________|__________|_________|_______________||8 | first global stock broking |3/3/2000| 1, ..... comply with the notices. on the strength of hon'ble bombay high court decision in the case of gopal das t. agarwal v. cit 1978 ctr (bom) 43 : (1978) 113 itr 447 (bom), he contended that before drawing an inference ao ought to have evaluated the circumstances. if something has been confronted to .....

Tonira Pharma Ltd. Vs. Commissioner of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... such notification as if it had not been repealed, superseded or rescinded. this section was introduced with effect from 11-5-2001 by the finance act, 2001. by section 114 of the finance act, 2001 it was also, inter alia, provided that any action or omission under any notification etc. shall be deemed to be and to ..... bring in process of relabelling because the definition includes only refrigeration, repacking, polishing labeling and segregation and nothing. it may be seen that note to chapter 29 and note 5 chapter 30 list both processes - relabelling as well as labeling as amounting to manufacture. also absence of process of relabelling in exim policy definition is ..... any retrospective effect and, therefore they could not affect the operation of the earlier notifications dated may 23, 1977, until they came into force on january 1, 1978. further, both section 3b and section 5(1) in express terms confer power upon the state government to issue notification "from time to time". section 3b .....

Harsh International and ors. Vs. Commissioner of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2007)(122)ECC193

..... levy and imposition are terms used interchangeably, connoting levy of duty.n.b. sanjana, assistant collector of central excise v. the elphinstone spinning and weaving mills co. ltd. 1978 (2) elt j 399 has held that levy and collection are two different aspects and the term 'levy' will not include actual collection. para 14 is reproduced below: ..... air 9.1 the facts leading to the decision by the nagpur high court and the enactment of rule 10a have been set out by the supreme court in 1978 elt j-399 in the case of n.b. sanjana, assistant collector v. the elphinstone spinning and weaving mills co. ltd., in paras 16 and 17. ..... completion of the review. (v) ministry of finance issued notification no. 98/2003-customs, dated 1^st july 2003, which inter-alia provided that pending the outcome of the review by the designated authority, vitrified/porcelain tiles, other than vitrified industrial tiles, falling under chapter 69 of the customs tariff act produced by m/s nanhai, shagyuan oulin construction .....

Plastiblends India Ltd. Vs. the I.T.O.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)94ITD295(Mum.)

..... gross total income for the purpose of section 80 ia. this view is further strengthened by the fact that explanation 5 has been inserted under section 32 by the finance act, 2001 w.e.f. 1.4.2002. this explanation provides that section 32 shall apply whether or not the assessee has claimed the deduction in respect of depreciation, ..... the total taxable income. this is the ratio of the judgment of the supreme court also in the case of cambay electric supply industrial company ltd. v. cit (1978) 113 itr "chapter vi-a, for the purposes of computing such deductions, constituted a separate code by itself. in order to compute the total taxable income of the assessee, deductions ..... facts are clear and undisputed and the moot question which arises to be adjudicated is whether in the case of an assessee who has claimed deduction under chapter vi-a of the it act, depreciation can be thrust upon him by the ao even though not claimed by the assessee. the hon'ble supreme court decision in the case of .....

inspecting Assistant Vs. Tata Chemicals Ltd. Tata

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1999)68ITD205(Mum.)

..... determination by the ito no tax shall be deducted on such proportionate account.17. in order to further mitigate inconvenience to individuals assessees only s. 197a was introduced by the finance act 1982 w.e.f. 1st june, 1982, which reads as under : 197a "no deduction to be made in certain cases. - (1) notwithstanding anything contained in s. 193 ..... assessment in respect of the payee is to be made for a later assessment year, the tax shall be deducted at source in accordance with the provisions of chapter xvii which contains ss.192 to 195. further, these provisions clarify that deduction of tax at source does not absolve the person from his liability of paying income ..... not operate as res judicata to bar a proceeding for imposition of penalty. he also referred to the decision in the case of cit vs. shamsunder tea co. (1978) 114 itr 116 (gau) where a similar contention of the assessee had been rejected. he further argued that since a responsibility of deducting tax at source was imposed .....

Assistant Commissioner of Income Vs. Asea Brown Boveri Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)11TTJ(Mum.)502

..... shall not be regarded as assignment of values to individual assets or liabilities. it may be reiterated that clause (42c) has been inserted in section 2 of the it act by the finance act, 1999 w.e.f. 1st april, 2000. assessment year involved in the appeal before us is asst. yr. 1997-98. thus, the definition of the "slump ..... can be reasonably valued for ascertaining their respective cost of acquisition, then by resorting to statutory parameters and mode of calculation devised under the head "capital gains" in chapter iv, the gains so computed can always be brought to tax. similar is the decision of the hon'ble jurisdictional high court in premier automobiles (supra). therefore, ..... indian precedent, we have relied on legal decisions in the usa in the cases of forward communications corporation v. us 76-2 ustc para 9542 (cl cl trial div 1978), general insurance agency inc. v. commissioner 17 bta 1213 (1929), golden state towel and linen service v. commissioner tc memo 67-1 ustc para 9302, 179 cl .....

Commissioner of Central Excise Vs. Larsen and Toubro Ltd. and

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2006)(107)ECC603

..... . 9,68,58,668/- in the first case and rs. 62,59,435/-in the second case besides proposing penalties under section 76, 77, 78, 79 ana 81 of chapter v of finance act, 1994. in both the cases the show cause notices were confirmed in which service tax amounting to rs. 9,68,57,665/- in the first case and rs. 62 ..... bid documents described the respondents." 21. reference was invited to supreme court decision in the case of sentinel rolling shutters and engineering company pvt. ltd. v.commissioner of sales tax (1978) 4 scc 2609 where the supreme court was considering whether it was possible to break up one contract into two segments - one for sale of goods and the other for ..... on tax on sale or purchase of goods. the amendment has introduced the context of "deemed sales". it does not alter the meaning of sale in the sale of goods act or other enactment, including the law on service tax. the supreme court has in the case of state of maharashtra v. laljit rajshi shah hold that legal fiction are created .....

ibi Kellogg India (P) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... , old formats under rule 5aa have lost relevance under concept of block of assets.11. regarding the issue whether explanation 5 to section 32 introduced by the finance act, 2001 with effect from 1-4-2002 is retrospective, the learned authorised representative submitted that is prospective in view of the decision of hon'ble punjab & ..... of computing the deduction under that section, the amount of income of that nature as computed in accordance with the provisions of this act (before making any deduction under this chapter) shall alone be deemed to be the amount of income of that nature which is derived or received by the assessee and which is ..... out without considering depreciation. this 'income' thus would be the same either for being part of gross total income or for becoming a base for computing deduction under chapter vi-a. after removal of section 34 and rule 5aa, particulars are no longer necessary. therefore, 'income' would be computed after allowing depreciation, whether claimed or .....

Burlingtons' Exports Vs. Assistant Commissioner Of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1993)45ITD424(Mum.)

..... contention of the learned departmental representative, sri keshavprasad, however, is that there was a transfer on 7-10-1986 under clause (vi) introduced in section 2(47) of the act, by the finance act, 1987. under this clause, he submitted, any transaction (whether by way of becoming a member of or acquiring shares in a co-operative society, company, or other association ..... of section 183, as computed under this section, is a loss, such loss may be set off, or carried forward and set off, in accordance with the provisions of this chapter. explanation: in this section "paid" has the same meaning as is assigned to it in clause (2) of section 43.this section does not provide for any exclusion of a ..... ] 154 itr 148 was applicable to the facts of the case. the agreement dated 7-3-1988, he held, was a colourable device and the deed dated 30-3-1978 (wrongly typed as 30-3-1979) by which sri n.r. kapur retired suggested the dissolution of the firm and, therefore, the provisions of section 45(4) of the .....

Pragyasingh Chandrapalsingh Thakur and Another Vs. State of Maharashtr ...

Court : Mumbai

..... or a focal provision or heart of the statute. had there been no provision empowering constitution of nia, there would not be any warrant for insertion of chapter-iii in the nia act enabling investigation by the nia. therefore, sections 3, 4, 5, 6 to 10 are all matters pertaining to constitution of the nia and enabling investigation by ..... is it really when we say it a proxy war, do we really believe that it is a proxy war?'...but when you have terrorist organizations being trained, financed by a state and it becomes state-sponsored terrorism and all of them are enabled to infiltrate into our country, it becomes a challenge of a qualitatively different nature ..... possibility of abuse cannot be counted as a ground for denying the vesting of powers or for declaring a statute unconstitutional. (see: state of rajasthan v. union of india, (1978) 1 scr 1, collector of customs v. nathella sampathu chetty, air 1962 sc 316, keshavananda bharati v. state of kerala, 1973 (4) scc 225; mafatlal industries v. .....