Judgment Search Results Home > Cases Phrase: finance act 1978 section 2 income tax Court: mumbai Page 17 of about 34,211 results (0.175 seconds)

M/S. Sharon Engineering Services Vs. Commissioner of Central Excise, N ...

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... therefore, the order passed is incorrect as far as imposition of penalty is concerned. accordingly, i hold that the appellant is liable to penalty under section 78 of the finance act equal to the service tax defaulted. however, the said penalty shall stand reduced to 25%, if the said liability is also discharged within 30 days from ..... the said provisions will suffice considering the fact that the appellant is a small service provider. accordingly, i set aside the penalty imposed under section 76 of the finance act, 1994 and uphold that under section 78. however, i observe that in the instant case in the orders passed by the lower authorities, the option/facility for paying penalty ..... upheld. inasmuch as there is a delay in payment of service tax, the appellant is liable to pay interest thereon on the defaulted payment under section 75 of the finance act, 1994. interest liability will accrue from the due date for from the payment of service tax till such time the payment is actually made. 6 .....

industrial Plastic Corporation Private Limited and Others Vs. Union of ...

Court : Mumbai

Reported in : 1983(12)ELT425(Bom)

..... and flakes (thermosetting and thermoplastic). (ii) polythelene films, layflat tubings, and p.v.c. (that is to say polyvinyl chloride sheets). (iii) not otherwise specified.' by finance act, 1964 dated february 29, 1964, the item was again substituted by the following entry : '15-a artificial or synthetic resins and plastic materials and articles thereof. (1) artificial ..... exs. 'b' and 'c' annexed to the affidavit-in-rejoinder in companion petition no. 539 of 1975. ex. 'b' is the letter dated september 16, 1978 addressed by hitachi limited to the sales executive of indian plastics limited where the quotations are called for phenolic moulding resin. ex. 'c' also supports the claim of ..... learned counsel relied upon the decision of the supreme court in the case of j.k. steel ltd. v. union of india and others reported in : 1978(2)elt355(sc) , shri justice hegde observed;'in the case of fiscal statutes, it may not be inappropriate to take into consideration the exemptions granted in interpreting .....

Tipco the Industrial Plastic Corporation Private Limited and Two ors. ...

Court : Mumbai

Reported in : 1989(25)LC360(Bombay)

..... granules and flakes (thermosetting and thermoplastic)(ii) polythelene films, layflat tubings, and p.v.c. (that is to say polyvinyl chloride sheets).(iii) not otherwise specified.by finance act, 1964 dated february 29, 1964, the item was again substituted by the following entry:15-a artificial or synthetic resins and plastic materials and articles thereof.(1) artificial or ..... on exs. 'b' and 'c' annexed to the affidavit-in-rejoinder in companian petition no. 539 of 1975 ex. 'b' is the letter dated september 16, 1978 addressed by hitachi limited to the sales executive of indian plastics limited where the quotations are called for phenolic moulding resin. ex, 'c' also supports the claim of the petitioners ..... , the learned counsel relied upon the decision of the supreme court in the case of j.k. steel ltd. v. union of india and ors. reported in : 1978(2)elt355(sc) : ecr c 281 s.c. shri justice hegde observed:in the case of fiscal statutes, it may not be in appropriate to take into consideration .....

R.B. Bansilal Abirchand Firm Vs. Commissioner of Income-tax, M.P.

Court : Mumbai

Reported in : (1963)65BOMLR859; [1964]53ITR536(Bom); 1964MhLJ45

..... under section 34 subsequently the same assessee was sought to be reassessed on the short ground that he should have been assessed not under ..... the finance act, 1938, but under the finance act of 1939, and as stated in the judgment itself it was admitted 'that the 'indefinite information ..... the words 'definite information' as they occurred in the amended section. but, apart from that, the two cases were decided upon facts which were wholly different. in income-tax appellate tribunal v. b. p. byramji & co. the assessee had been assessed under the finance act of 1938, whereas in the proceedings commenced by the notice .....

Mahendra Bhawanji Thakar Vs. S.P. Pande and ors.

Court : Mumbai

Reported in : [1965]56ITR522(Bom)

..... years ending before the 31st day of march, 1941;...' 38. what then was the exact effect of the changes made by section 18 of the finance act prior to the finance act of 1956, clauses (a) and (b) of section 34 contemplated two categories of cases of escaped income : (a) those whose income escaped because they failed to disclose fully and ..... , we are not at present concerned with the other clauses of section 18 of the finance act of 1956, because sub-section (4) of section 34 only refers to sub-section (1), clause (a) of that section before its amendment by clause (a) of section 18 of the finance act. by clause (a) of section 18 only the words 'within eight years' were dropped. if ..... just three days but their lordships felt that if they were wrong in their decision on that point, still after the enactment of section 18 of the finance act of 1956, amending the provisions of section 34, the notice must be held to be within time. the decision in that case on that point before us was thus wholly .....

New Shorrock Spinning and Manufacturing Co. Ltd. Vs. N.U. Raval, Incom ...

Court : Mumbai

Reported in : [1959]37ITR41(Bom)

..... certiorari or a writ of mandamus or a writ of prohibition raises a rather important question of the construction of section 35(10) of the income-tax act. sub-section (10) of section 35 was introduced by amendment brought about by the finance act, 1956. we shall have occasion to refer to the amendment a little later in our judgment. the facts ..... of the same argument. it will be convenient to set out here section 28 of the finance act of 1956, whereby section 35(10) was introduced for the first time in the income-tax act : 'the amendments made in the income-tax act by section 4 and clause (b) of section 15 shall be deemed to have come into force on the 1st day ..... the constitution. one of the contentions set out in the petition is that the provisions of section 35(10) being added only by the finance act of 1956, had no application to the case of the mills company because to apply the provisions of section 35(10) to the mills company would be to give retrospective operation to those provisions. .....

Balsara Hygiene Products Ltd. and Another Vs. D.S. Saxena and Another

Court : Mumbai

Reported in : 1994(2)BomCR164; [1994]208ITR623(Bom)

..... from payment of taxes in respect of advertisements. in this connection, it is interesting to note that earlier by the finance act, 1978, sub-sections (3a) to (3d) were inserted in section 37 of the act and those sub-sections were omitted by the finance act, 1980. in those sub-sections, the aggregate expenditure which was in excess of rs. 40,000 was not allowed deduction at a certain percentage ..... the computation of its income subject to certain small disallowances under rule 6d of the income-tax rules, 1962, made pursuant to section 37(3) of the act. in the year 1978, section 37 of the act was amended by the finance act, 1978, by inserting sub-sections (3a) to (3d). the effect of the amendment was to disallow a portion of the expenses incurred by an assessee on .....

Ghodawat Pan Masala Products (i) Ltd. and anr. Vs. State of Maharashtr ...

Court : Mumbai

Reported in : 2002(6)BomCR466; [2003]130STC310(Bom)

..... to be and to always have been, for all purposes, as validly and effectively taken or done or omitted to be done as if the amendment made by section 125 of the finance act, 2001 has been in force at all material times and, accordingly, notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority ..... deemed to be and shall be deemed to always have been, as validly taken or done or omitted to be done as if the amendment made by section 125 of the finance act, 2001 had been in force at all material times. (b) no suit or other proceedings shall be maintained or continued in any court, tribunal or other ..... 246(3) of the constitution, in that event, no question of reconciliation arises. he placed reliance on ram krishna ramnath agarwal of kamptee v. secretary, municipal committee kamtee : 1978(2)elt284(sc) and also sought to borrow assistance from the case of abdul kadir : [1976]2scr690 , to support his contention. 16. the learned counsel for the state .....

Gal Offshore Services Ltd. (Now the Great Eastern Shipping Company Ltd ...

Court : Mumbai

Reported in : (2009)221CTR(Bom)448; [2009]309ITR125(Bom)

..... -96.9. in support of the submission of the assessee that the tribunal has erred in coming to the conclusion that the amendment made by finance act, 1995 to section 33ac is clarificatory and hence retrospective is erroneous, the learned advocate for the assessee relied on the departmental circular no. 717 dated 14th august, ..... 1996 is clarificatory and retrospective, is erroneous and is contrary to the decision of the hon'ble supreme court, particularly as the amendment to section 33ac by the finance act, 1995 makes a clear departure from the old provisions and is explicitly stated to be prospective.10. referring to the circular no. 554 of ..... dismissed the appeal filed by the assessee upholding disallowance of deduction under section 33ac primarily on the following grounds:i) section 33ac contemplates actual carrying on of the business of operations of shipping in the year of claim;ii) amendment brought by finance act, 1995 with effect from 1st april, 1996 is clarificatory and retrospective. .....

All India Blue Star Employees Federation Vs. Union of India (Uoi) and ...

Court : Mumbai

Reported in : [1998]234ITR155(Bom)

..... of the supreme court in shashikant laxman kale v. union of india : [1990]185itr104(sc) , wherein the challenge to the validity of clause (10c) of section 10 of the act, as originally inserted by the finance act, 1987, was repelled by the supreme court.11. we have perused the above decision of the supreme court. in that case the validity of ..... contains various clauses, income falling under which do not form part of the total income. clause (10c) was inserted in that section for the first time with effect from april 1, 1987, by the finance act, 1987, to extend the benefit of exemption to the employees of public sector undertakings in respect of any payment received by them at ..... section 10(10c) was challenged on the ground that the denial of the benefit to an employee of a private sector company at the time of his voluntary .....