Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: mumbai Page 90 of about 1,733 results (0.248 seconds)

Shri D.J. Mehta Vs. I.T.O.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2007)104ITD527(Mum.)

..... total income for any assessment year is that tax in respect of the disclosed amount is paid within the time specified in section 66 or section 67 of the finance act, 1997. the ld. departmental representative further invited our attention to the format of declaration form with the submission that assessee has to declare the assets which he held ..... tax on 05.09.1997 declaring gold ornaments worth rs. 52,54,390/- and cash of rs. 5,70,000/-. as per provisions of section 66 of the finance act, 1997 relating to voluntary disclosure of income scheme 1997, the tax payable under the scheme in respect of voluntarily disclosed income shall be paid by the declarant and ..... 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 for the purpose of computing total income under this chapter. meaning thereby, if any expenditure is incurred on borrowed funds which do not earn any income, the said expenditure are not to be .....

Dhirubhai Ambani Knowledge City Mumbai. Navi Mumbai - 400 710 Vs. Pan ...

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... that prevailing in the case of hindustan lever ltd. (supra) in which albeit the assessee supplied the details of income of the units eligible for deductions under chapter vi-a, but the ao failed to note that the assessee had not allocated proper amount of expenses to such eligible units, which he was required to observe ..... assessee claimed that it was deductible business expenditure. the a.o. accepted the explanation and allowed the deduction. the cit issued notice u/s 263 of the act on the ground that the order of the assessing officer was erroneous and prejudicial to the interests of revenue on the question of allowance of deduction of the ..... cit v. nalwa investments ltd. [(2011) 338 itr 522 (del.)]. in this case the assessee was a non-banking finance company engaged in the business of investment in shares, securities, other debt instruments and financing loans and providing guarantees. the income of the assessee comprised of interest on loans and securities, professional income as well as .....

Uma Balasaraswathi Vs. Collector of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1988)LC152Tri(Mum.)bai

..... been brought by the appellant and her family as personal jewellery under the baggage rules made under the customs act, definition given in the customs tariff act under chapter notes 7(b) of chapter 71 of the schedule to the customs tariff act should be adopted. according to the said definition, jewellery means, inter alia, "small objects of personal adornment ..... baggage excepting a motor vehicle. though this is an inclusive definition this definition along with the provisions of chapter xi and the baggate rules, 1978 as framed under section 79 by notification no. 101/cus., dated 16-5-1978 as amended leave no doubt that all articles imported by a passenger with him on person or in ..... holding that the appellant and the others are not entitled to the benefit of rule 6 of the baggage rules all the bangles shall be released under the baggage rules, 1978, subject however to payment of duty. sd/- sd/- (k.s. dilipsinhji) (k. gopal hegde) member (technical) member (judicial) bombay, 25-3-1987 14. i .....

M.B. Impex Vs. Collector of Customs

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1990)LC206Tri(Mum.)bai

..... 08.02 of ch.8, pertains to "other nuts fresh or dried, whether or not shelled or peeled." referring to the relevant entry in schedule to customs tariff act, in chapter 8, almonds are specifically mentioned under heading 08.02 with sub-heading 0802.11 being for almonds in shell, and sub-heading 0802.12 for shelled almonds. this clearly ..... establishes that under the customs tariff act "almonds in shell" fall within chapter 8 of the schedule. as mentioned above, the same interpretation has to be given for the purpose of interpretation of the provisions of the import (control ..... then submitted that all the nuts are seeds and relying upon the decision of the calcutta high court in m.d. agarwalla and ors v. director of entry tax, 1978(41) sales tax cases 258, submitted that almonds in shell are nuts. according to him, though the decision of the calcutta high court is in different set of .....

Mafatlal Industries Ltd. Vs. Collector C. Ex. and Cus.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1991)LC65Tri(Mum.)bai

..... court's judgment against the revenue.hence, in our view, issue of a further notice under section 51(2)(d) of the finance act for being acted upon is redundant. even without such a notice so long as there are notices issued under section 11-a on the very same issue ..... if the demand has been nullified by the court judgment, because of the specific deeming provisions laid down in section 51(2) of the finance act, it should be deemed to have been for all purposes as validly and effectively taken. hence, such a demand issued even prior to 20 ..... set-off of duty under notification no. 178/77. the brass rods were assessed under t.i. 68 during the period from 24-7-1978 to 31-3-1979. with effect from 1-4-1979 brass rods were assessed under t.i. 26a(1)(a) in respect of which ..... to 70 thereof. he also made the citation reported in 1989 (39) elt 617 (tri), in the case of indian iron and steel co. and 1978 elt (j 471) in the case of good shephered rubber co.8. in the case of m/s. rohit mills ltd. (a. no. e/ .....

Fdc Ltd. Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1991)(55)ELT601Tri(Mum.)bai

..... ). on the question of limitation, he contended that the supreme court judgment, in the case of j.k. spinning & wvg. mills was in the context of section 51 of the finance act giving retrospective validity with regard to the levy and collection of duty on goods manufactured and captively consumed. since section 51 of the ..... finance act did not provide for specific time limit, the supreme court held that it should be read in conjunction with section 11a, mainly because of the fact that section 11a deals ..... order passed by the collector of central excise (appeals) bearing no. skm-1923/89 b-ii dated 19-9-1989. the appellants are manufacturing p. or p. medicaments falling under chapter sub-heading no. 3003.19 of central excise tariff. they are working under the modvat scheme in respect of the inputs permitted under the scheme. the disputed input is aluminium .....

Commissioner of Cus. and C. Ex. Vs. Vinubhai Steel Co. Pvt. Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (2002)LC232Tri(Mum.)bai

..... the character of inputs (duty paid or not?) he observed that the relevant tariff entries, namely, headings 72 30 and 73 27 were deleted from the tariff vide finance act, 1994 and the goods were also exempted in terms of notification 45/94. the non duty paid nature of the contested goods thus stood established. on the plea that ..... rule as made by us.32. the deletion of two tariff entries has also taken considerable space of the proceedings. these two entries and similar entries in other chapters making the source of the goods as the ground key for classification was obviously for the purpose of facilitation and for ease of referencing. it did not create or ..... been deleted from the tariff would not result in the denial of deemed credit inasmuch as the resultant goods would merit classification against the general entries in the relevant chapter heading in the tariff it was claimed that the penalties under rule 173q(1) were not leviable it was claimed that not all the material was purchased from .....

Commissioner of Central Excise Vs. Bhansali Bright Bars Pvt. Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... the authorities are not bound to impose 100% penalty under the said section. the commissioner (appeals) has taken note of the amendment made in the said section in the finance act, 2000 and has rightly observed that inasmuch as the duty has been paid by the respondents, the penalty needs to be reduced. accordingly, i find no infirmity in ..... above order, the commissioner (appeals) held that the penalty imposed under rule 11ac is excessive and as per the amendment to section 11ac made by section 96 of the finance act, 2000, it is laid down that penalty of 25% of the duty amount is imposable if the amount of duty is paid by the assessee. accordingly, he reduced ..... 1. as per the facts on record, the respondents are engaged in the manufacture of bright bars falling under chapter 72 of the schedule to the central excise tariff act, 1985. in course of the preventive checks, it was found that the respondents had raised debit notes from their client collecting value in excess of the assessable value .....

Bharat Mining and Engg. Co. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1998)229ITR60(Mum.)

..... statute book even though they were not there at the time of completion of the assessment. by virtue of the definition of the word "record" in section 263 inserted by finance act, 1989 with retrospective effect from 1-6-1988, the cit was also within his right to consider the eligibility of the assessee for the relief under section 80hhc in the ..... the assessee can adduce all his arguments before the assessing officer. in view of the decision of the gujarat high court in the case of addl. cit v. mukur corpn. [1978] 111 itr 312, the only proper course for the commissioner when he proposes to set aside the assessment order, is not to give his final conclusions. if the cit gives ..... . in support of this contention, he has cited and relied upon the decision of the punjab and haryana high court in the case of cit v. r.k. metal works [1978] 112 itr 445. the punjab and haryana high court held that it was necessary for the commissioner to state in what manner he considered that the order of the income .....

Daga Containers (P.) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)6SOT666(Mum.)

..... carried on by him in the previous year relevant to that assessment year. the relevant observations of their lordships are extracted hereunder, for the sake of reference : "6. the finance act, 1972, in the first instance, inserted a new item of the enumeration of income in section 2(24) by inserting clause (ix) therein. it has made any winnings ..... against income, if any, from any source other than the activity of owning and maintaining race horses in that year and shall, subject to the other provisions of this chapter, be carried forward to the following assessment year and (a) it shall be set off against the income, if any, from the activity of owning and maintaining race ..... of income except his winnings from races nor is it allowed to be carried forward to be set off against income from any source in any subsequent year.the finance act, 1974, has amended section 74a so as to provide that the losses incurred by owners of race horses in the activity of owning and maintaining such horses, to .....