Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Sorted by: old Page 29 of about 15,869 results (0.175 seconds)

R. Ramanathan Vs. Assistant Commissioner

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1998)65ITD108(Mad.)

..... we enter into the facts of the present case, the background of the block assessment should be considered first. chapter xiv-b is a special procedure for assessment of search cases, which has been incorporated by the finance act, 1995 with effect from 1-7-1995.the object of the special provision is reflected in the budget speech ..... of the finance minister as follows :- "hon'ble members are aware that the searches conducted by the income-tax ..... departmental representative has supported the order of assessment and brought to our notice the definition of the words 'undisclosed income' as prescribed in section 158b of the act. it was submitted that the definition is inclusive in nature and includes any money, bullion, jewellery or other valuable articles or thing or any income based on .....

Parakh Foods Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1998)64ITD396(Pune.)

..... .6. dr. pathak, the learned counsel for the assessee took us through various provisions of chapter xiv-b consisting of section 158b to section 158bh as well as the budget speech of finance minister in the parliament and explanatory notes on the finance bill and finance act, 1985. his first contention was that the intention of the legislature is to assess only undisclosed ..... in the parliament in this regard which is 87 itr 212 (sic). he also drew our attention to the explanatory notes on finance bill, 1995 and the finance act, 1995 which are reported ar 212 itr 306 (st.) 212 itr 346 (st.). it was also contended by him that the undisclosed income must be determined as a ..... particular concern is a benamidar of the other. reference was made to the madras high court decision in the case of first ito v. m. r. dhanalakshmi ammal [1978] 112 itr 413. he pointed out that no evidence has been brought on record either to prove that the capital of the firm was contributed by the assessee or profits .....

Nestle India Ltd. Vs. Cc

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

Reported in : (1997)(72)LC594Tri(Mum.)bai

..... under the provisions of one enactment and the customs law wherein it is the basic duty of customs that is prescribed in the customs act, while auxiliary duty is prescribed under the finance act (even though, there is only one order of assessment by the customs authorities). therefore, we hold that the appellants were not automatically ..... is not covered by notification 189/86 and it is excluded from the coverage of serial no.11(xii) of the notification which covers goods falling under chapter heading 84.19 viz. "machinery, plant or laboratory equipment, whether or not electrically heated, for the treatment of materials by a process involving a change of ..... case of certain nutritious substances, a ready cooking effect by which instant properties were obtained. the classification of the goods was confirmed by the lower authorities under chapter heading 8419.81 which is applicable to 'machinery, plant and equipment for making hot drinks or for cooking or for heating food'. the appellants came up .....

D.K. Gupta Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the limited purpose of proceedings under ss. 132(5) and 132(11) and cannot be invoked by the ao for making such additions in block assessment under chapter xiv-b as inserted by the finance act, 1995, w.e.f. 1st july, 1995, prescribing special procedure for assessment of such cases by ignoring the provisions of ss. 68, 69, 69a, 69b and ..... of account. it is still lying vacant. as regards the property k-52, green park, new delhi the assessee acted only as an estate agent and got a commission of rs. 22,000. however, the property deal was partly financed by the assessee and a payment of rs. 16.80 lakhs was made to the owner which was ultimately recovered from ..... 69c of the act. in support of this proposition, he placed reliance on allahabad high court judgment in the case of pushkar narain saraf vs. cit (1990) 183 itr .....

D. K. Gupta Vs. Deputy Commissioner of Income Tax.

Court : Delhi

Reported in : (1998)60TTJ(Del)587

..... the limited purpose of proceedings under ss. 132(5) and 132(11) and cannot be invoked by the ao for making such additions in block assessment under chapter xiv-b as inserted by the finance act, 1995, w.e.f. 1st july, 1995, prescribing special procedure for assessment of such cases by ignoring the provisions of ss. 68, 69, 69a, 69b ..... of account. it is still lying vacant.as regards the property k-52, green park, new delhi the assessed acted only as an estate agent and got a commission of rs. 22,000. however, the property deal was partly financed by the assessed and a payment of rs. 16.80 lakhs was made to the owner which was ultimately recovered ..... and 69c of the act. in support of this proposition, he placed reliance on allahabad high court judgment in the case of pushkar narain saraf vs . cit : [1990]183itr388(all) .....

T.S. Kumarasamy Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1998)65ITD188(Chennai)

..... case, we would like to mention that neither the commissioner of income-tax nor the assessing officer have understood in proper legal perspective the provisions of chapter xiv-b brought on the statute book by finance act, 1995. these provisions have been enacted for speedy completion of assessment in search cases where undisclosed income is found or detected as defined in section 158b ..... is one more reason why the addition of rs. 1.68 crores cannot be sustained. the provisions of chapter xiv-b have been brought on the statute book by the finance act, 1995 for assessing udi of a person searched under section 132 of the act for the block period of 10 years.what is udi has been clearly stated and defined in sub .....

Ashirvad Enterprises and ors. Vs. State of Bihar and anr.

Court : Patna

..... in fit cases it can be granted subject to certain conditions. sub-section (1) of section 245h was amended with effect from 1-6-1987, by the finance act, 1987, to introduce a proviso that no such immunity shall be granted by the commission in cases where the proceedings for the prosecution for any such offence have ..... institution of the proceeding once the settlement commission allows an application to be proceeded with. such an interpretation does not seem to be correct considering the scheme of chapter xix-a. the question of either grant of sanction for prosecution or compounding the offence under section 279 (1) and (2) is not before the settlement ..... the views expressed by the calcutta high court in jyoti prakash mitter v. haramohan chowdhury : [1978]112itr384(cal) . in telu ram raunaq ram v. ito , the petitioner assessee was being prosecuted for an offence under section 277 of the act before a criminal court and had moved the court invoking inherent jurisdiction after the charge had been .....

Ashirvad Enterprises and ors. and L.N. Poddar Vs. State of Bihar and a ...

Court : Patna

..... fit cases it can be granted subject to certain conditions. sub-section (1) of section 245h was amended with effect from june 1, 1987, by the finance act, 1987, to introduce a proviso that no such immunity shall be granted by the commission in cases where the proceedings for the prosecution for any such offence have ..... wanchoo committee was appointed to make recommendations with a view to arrest this evil. that committee, made a wealth of recommendations, but we are concerned only with chapter 2 of the report which, under the title, 'black money and tax evasion', proposed a compromise measure of a statutory settlement machinery where the big evader could ..... the views expressed by the calcutta high court in jyoti prakash mitter v. haramohan chowdhury : [1978]112itr384(cal) . in telu ram raunqi ram v. ito , the petitioner assessee was being prosecuted for an offence under section 277 of the act before a criminal court and had moved the court invoking inherent jurisdiction after the charge had .....

Adwise Advertising Pvt. Ltd. Vs. Union of India

Court : Chennai

Reported in : 1998(97)ELT35(Mad); 2006[2]STR239; [2007]6STT348

..... in newspapers, magazines, journals as well as on radio and television and the petitioner charges its clients for services in the preparation of advertisements.3. as per the finance act, 1994, chapter v, levying of service tax was introduced. initially, it was imposed on telephone services. by amendments made in 1996, the levy of service tax was extended to ..... the rich and growing source of revenue, the policy was adopted in the form of tax on services and the said tax was introduced as chapter v in finance bill, 1994 which became finance act, 1994 and the same was made applicable from 1-7-1994. sections 64 to 96 were introduced and made applicable for the new levy of ..... think the impugned letter dated 31-10-1996 is ultra vires the provisions of article 235 of the constitution of india, nor is it against section 95 of the finance act. in that view of the matter, relief sought for, namely, issue of a writ of declaration that the impugned letter is invalid, cannot be granted. consequently, .....

industrial Finance Corporation of India Vs. Commissioner of Income-tax

Court : Delhi

Reported in : [1998]233ITR13(Delhi)

..... that not only the computation should be made before making any deduction under chapter vi-a but before making also any deduction under the aforesaid provision, i.e., section 36(1)(viii). section 10 of the finance act, 1985, has amended section 36(1)(viii) of the act with effect from april 1, 1985, so that the total income shall ..... them out of such profits to a special reserve account, up to a specified percentage of their total income as computed before making any deduction under chapter vi-a of the income-tax act, 1961. the deduction is available only where the financial corporation is approved by the central government for the purposes of this section. the question whether ..... 12, 1973, wherein it was clarified that the percentage would be applied to the total income computed before making any deduction under chapter vi-a as well as any deduction under section 36(1)(viii) of the act. this view of the board was circulated by the reserve bank of india, bombay, in their letter no. lfd. no. .....