Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: mumbai Page 81 of about 1,733 results (0.067 seconds)

Fabworth (India) Ltd. and Vs. Commissioner of Central Excise,

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2002)(147)ELT478Tri(Mum.)bai

..... , sought to justify the decision of the commissioners on the point. the dr further argued that, such the retrospective amendment of section 3 of the central excise act by the finance act 2000, it became inescapable for 100% eous like the appellants to pay (towards duty of excise on their products cleared to dta) the sum of the basic ..... act, the 1957 act and the 1978 act on like goods manufactured in india during the relevant period. we have already read earlier in this orders the proviso to section 3(1) of the central excise act as it stood before the amendment under reference. after the amendment, made with effect from 11.5.1982 by section 92 of the finance act ..... eou at butibori is engaged in the manufacture of various kinds of yarns viz. all-wool yarn and poly-wool yarn falling under chapters 51 and 55 of the schedule to the central excise tariff act), and export thereof.2. 100% eous like the appellants' units at butibori-approved as 'hundred percent export-oriented undertakings's by .....

Concepta Cables Ltd. Vs. Additional Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)101ITD143(Mum.)

..... ltd. (supra), we find that this judgment was delivered by the tribunal on 5-2-2001; whereas, explanation to section 36(1)(vii) was inserted by the finance act, 2001; and therefore this judgment is without considering this explanation; and hence, not applicable in this present case. regarding another tribunal judgment rendered in the case of tedco ..... as per the directions and to that extent, there is no conflict between directions of rbi and income-tax act. regarding granting of deduction from taxable income, there is no direction issued by the rbi under chapter iiib of rbi act; and hence, this tribunal order is not applicable in the present case. regarding the definition of word ..... 2 (2006), pages 1667 to 1681, which contains some provisions of rbi act, 1934. our attention was drawn to section 45q of rbi act, 1934 as appearing on page no. 1680 and it was submitted that as per this section 45q, chapter ob of rbi act, 1934 overrides other laws. our attention was drawn to section 45 ja of .....

Savita Chemicals Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1999)LC845Tri(Mum.)bai

..... cx, dated 14-10-1996, as reproduced in 1996 (87) e.l.t. (t) 48. the extract read as under: "in the finance act of 1996, definition of 'place of removal' has been amended to include depot, consignment agents or any other place or premises from where the goods ..... pay duty and thereafter would be liable to duty when later packed. as the ld. advocate stated, there are no such provisions in chapter 27. therefore, the activity of packing or repacking of bulk lubricating oil cannot be held to amount to manufacture.21. shri lakshmikumaran points ..... was not a material aspect. the assessees had cited two other judgments also viz. in the case of ed parry ltd. v.u.o.i. 1978 (2) e.l.t. (j 18) and prabhat packaging corpn. 1990 (47) e.l.t. 102. the ld. commissioner overcame this hurdle ..... , it would apply to all the removals.11. the karnataka high court in the case of state of karnataka v.u.o.i. 1978 e.l.t. (j 564) held that the percentage of sale at the factory gate was not material. the same view was held .....

Mrs. Pushpa B. Sheth Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1994)50ITD314(Mum.)

..... request vide his letter dated 11th february, 1992. on further appeal to the cit(a), the latter noted inter alia the explanation below section 53 inserted by the finance act, 1987 w.e.f. 1-4-1988 and ultimately dismissed the assessee's appeal.4. before us, the learned advocate for the assessee explained the background of the ..... in this context, he submitted that doubts, if any, had been specifically set at rest by the very specific provision in the act itself by way of insertion of explanation below section 53 vide finance act, 1987 w.e.f. 1-4-1988. he pointed out that the said explanation was certainly operative for this case as the ..... and 54 first and on the balance deduction under section 48(2) should be quantified and allowed. since both these types of deductions find place under the same chapter, viz., chapter iv-e, relating to capital gains, there could have been some doubt about the sequence to be followed. however, the learned departmental representative is right in mentioning .....

Assistant Commissioner of Vs. Tribhovandas Bhimji Zaveri

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2000)74ITD92(Mum.)

..... income of somebody else, then there was nothing to prevent an investigation into the true source of the amount. there was nothing in section 24 of the finance (no. 2) act, 1965, which prevented the ito, if he was not satisfied with the explanation of an assessee about the genuineness or source of an amount found credited in ..... shares. s/shri gopaldas and arvind were only getting income by way of share of profit from the firm t.b.z. zaveri bazar prior to assessment year 1978-79 in huf capacity. in individual capacity their income from valuation fees was very negligible.when all these facts were considered, a conclusion was drawn that this ..... the assessing officer who probed further into the transaction. it was explained before him that the said partners and their family members filed returns for the assessment year 1978-79 under the amnesty scheme, 1985, in march 1987 and offered the value of certain jewelleries as income from undisclosed sources under the head "income from other sources .....

Metropolitan Trading Co. Vs. the D.C.i.T., Spl. Range 9

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2004)89ITD662(Mum.)

..... ito which relates to the matters considered and decided by the appellate authority. thus, there will be partial merger and not the merger of the whole order. by the finance act, 1988, the provisions of section 263 have been amended to clarify that the commissioner would be competent to revise an order of assessment passed by an assessing officer on ..... to them because the same had not been considered and decided in the appeal filed by the assessee. therefore, the order of assessment passed by the ito on march 31, 1978, had not merged with that of the commissioner (appeals), dated december 15, 1979, in respect of the three items in dispute so as to exclude the jurisdiction of ..... court may be reproduced below from the headnote: "the assessment of the assessee for the ay 1975-76 was completed under section 143(3) of the it act, 1961 read with section 144b on march 31, 1978, in which the net business loss was computed at rs. 3,61,086/- and the income under the head 'capital gains' at rs. 38,874 .....

Assistant Commissioner of Income Vs. Concord Commercials (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)94TTJ(Mum.)913

..... ships or in the manufacture or processing of goods or in mining would fall within the purview of "industrial company" as defined in section 2(6)(c) of the finance act, 1969, notwithstanding the fact that its income from the specified activity is less than 51 per cent of its total income. the explanation to the section applies only to ..... revenue regarding gross total income in the light of the definition given under section 80b is not a sound one. if the definition under section 80b is applicable to chapter vi-b alone, the law would have provided another definition for the purposes of section 73. it has not been so provided. in such circumstances, the meaning of ..... ) 205 itr 618 (cal) 11. the learned cit further contended that the meaning of the expression "gross total income" defined in section 80b(5) applies to chapter vi-a alone and not to chapter vi in which section 73 is provided. he referred to the p. 3346 of income-tax law by chaturvedi & pithisaria, fifth edition, part-ii, in support .....

Deputy Commissioner of Income Vs. Sunil Carriers and Traders (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)7SOT417(Mum.)

..... 142(1), 143(2) or 142(1a), 147/148. the undisclosed income falling in this domain will suffer tax at normal rates as prescribed in the yearly finance act and also suffer interest and penalty as provided under sections 234a, 234b, 234c, 271(1)(c), 271b, etc. the undisclosed income failing under search domain will ..... is regular assessment and other is block assessment. each category of assessment provides inclusion of undisclosed income therein. a perusal of section 148/147 and that of chapter xiv-b indicates that there are two domains of undisclosed income. one is relating to money, jewellery, valuable, articles or things and other undisclosed income based ..... evidence or any enquiry relating to these seized materials, i am of the opinion that the returned/ assessed income before date of search cannot be reviewed under chapter xiv-b. therefore, the rejection of books of account by the assessing officer, estimation of commission income @15% on the disclosed volume of business and restricting .....

The Dcit Vs. Tata Investment Corporation Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... the heads of income are as under: section 14a of the i.t.act was inserted by the finance act, 2001 with retrospective effect from 01.04.1962, which provided as under: section 14a - for the purpose of computing the total income under this chapter, no deduction shall be allowed in respect of expenditure incurred by the assessee ..... in relation to income which does not form part of the total income under this act: ..... shares was dividend income which was exempt under section 10(33). the assessee incurred expenditure for earning exempted dividend income. section 14a had been inserted by the finance act, 2001 with effect from 1-4-1962 laying down that no deduction would be allowed in respect of the expenditure incurred by the assessee in relation to .....

Voltas Ltd. Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1999)(107)ELT760Tri(Mum.)bai

..... . the commissioner orders has been issued as a result of the amendment made to heading 38.02 and to note 2 to chapter 38 made by the finance act, 1996 which took effect from 23rd july 1996 onwards. the effect of this amendment on the classification of technical grade pesticides has been considered by ..... of the judgment in the consideration in this appeal is not in question. it would therefore follow that the classification approved initially of the products in question under chapter 3808.10 was correct. no duty was payable in addition to what had already been paid and hence penalty not imposable.4. appeal allowed. impugned order set ..... in the judgment the court had held that notwithstanding the amendment to that heading and the introduction of note to chapter 38, the circular of the board directing classification pesticides not under chapter 38, but under the appropriate chapter 28 or 29, was not correct and struck it down, quashing notices issued and actions based on that circular. .....