Judgment Search Results Home > Cases Phrase: finance act 1978 section 39 amendment of act 6 of 1898 Court: mumbai Page 100 of about 2,741 results (0.160 seconds)

Flotech Welding and Cutting Systems Limited, a Company Registered Unde ...

Court : Mumbai

Reported in : (2004)188CTR(Bom)268; 2004(3)MhLj87

..... the authorities below are in accordance with law.15. we have heard the counsel on both sides and perused the records placed before us.16. section 139(9) was inserted by finance (no. 2) act, 1980 with effect from 1st september, 1980. prior to 1st september, 1980, that is, till 31st august, 1980 there was no specific ..... in that case, the return of income filed by the assessee for the relevant assessment year was not accompanied by the statutory audit report mandated by section 44ab of the act. the assessee had not rectified the defect within the stipulated time and had not sought extension of time either before the assessing officer or before the ..... petitioner fairly stated that after treating the revised return for assessment year 1991-1992 as invalid, the assessing officer has passed assessment order under section 143(3) of the income tax act ('i.t. act' for short) and the appeal filed against the said assessment order is pending. he submitted that the petitioner is willing to peruse .....

Mohandas I. Chatlani of Mumbai Vs. Varad L. Ullal

Court : Mumbai

..... a suit as summary suit, is clearly devoid of merits. also not sustainable is the argument that the security had to be given up. under section 176 of the indian contract act, plaintiff has a right to retain pledged goods, until such time defendants makes payments and then only need return of the pledged goods. the judgment ..... has to be rejected. 10. this court in the case of elegant capitals pvt. ltd. (supra) has reiterated the law laid down in the case of suraj sanghi finance ltd. 11. in the case of state industrial and investment corporation of maharashtra ltd. (supra), relied upon by the learned senior counsel for the defendant, admittedly the debt ..... the collateral security and/or release the same before maintaining the suit as a summary suit. the learned counsel placed reliance on the judgment of this court in surajsanghi finance ltd. vs. credential finance ltd. and ors (air 2002 bombay 481). and m/s. elegant capitals pvt. ltd. vs. in cablenet (andhra) limited (2012(1) all mr 305). .....

Shri Pradip Nanjee Gala, Karta of Hindu Undivided Family of Pradip N. ...

Court : Mumbai

Reported in : 2006(3)BomCR147; 2006(3)MhLj508

..... , telang road, matunga, bombay - 400 019. dear sir, with reference to the petition addressed to the minister for finance, government of maharashtra, bombay, i have to draw your attention to the provision in section 18 of the bombay sales tax act, 1959 which provides that the liability in the case of partnership firm is joint and several. the amount of tax ..... not intimated to the sales tax department. it was further stated that the plea of the petitioner that he had retired from the firm with effect from 1/11/1978 has been erroneously rejected and the petitioner who was only a formal partner has been made liable for the dues confirmed against the firm for s.y. 2034 & 2035 ..... of the firm at any time. however, by rejecting the contention of the petitioner, an assessment order was passed on 15/7/1980 for samvat 2035 (1-11-1978 to 24-6-1979) confirming the demand and recording a finding that there was sufficient corroborative evidence on record to hold that the petitioner who joined the firm as a .....

The Commissioner of Income Tax-8, Mumbai and Others Vs. M/s. Sulzer In ...

Court : Mumbai

..... such conversion has been permitted by or under government orders. in paras 1 and 2 of this circular, the department refers to the introduction by finance act, 1983 w.e.f. 1st april, 1984 of section 43-b. then, in para 3, it refers to several representations received from various state governments and others that cases of deferred sales tax ..... these appeals finally. 12. mr. gupta-senior counsel appearing in support of these appeals submits that there is a difference in the language of section 41(1) and section 43-b of the i.t. act. section 43-b comes into play on actual payment. in the present case, we are concerned with two sales tax deferral schemes. mr. gupta submits ..... opting for the scheme of deferment of sales tax, an amount of rs.13,78,41,600/- was deemed to have been paid for the purpose of section 43-b of the act and, therefore, while concluding the assessment for the assessment year 2003-04, the same was allowed as a deduction. the maharashtra government by way of maharashtra .....

Commissioner of Income-tax, Bombay City-1 Vs. Investa Industrial Corpo ...

Court : Mumbai

Reported in : [1979]119ITR380(Bom)

..... indicate. 5. it is true that in the memorandum of association or articles of association of the assessee-company there is no obligation cast upon the assessee-company to finance the managed-company nor was there any such obligation to be found in the agreement dated december 7, 1946. but it was not disputed before us by mr. joshi ..... be regarded as an allowable deduction as a trading loss while computing the business income of the assessee-company for the relevant assessment year under s. 28 of the act. mr. joshi appearing for the revenue urged before us that if due regard be had to the memorandum of association of the assessee-company it would be clear that ..... the loss sustained was incidental to the assessee's business and, therefore, the same was deductible while computing the business income of the assessee under s. 28 of the act. on behalf of the department, the orders passed by the taxing authorities were sought to be supported. it was contended that the amount was neither a bad debt nor .....

Eco Valley Farms and Foods Limited Vs. the Commissioner of Central Exc ...

Court : Mumbai

..... and could not have taken a view contrary to the view taken by the commissioner of central excise (a). 33. the fact that section 11a of the 1944 act as amended by the finance act 2000 empowers the central excise officer to demand excise duty for a period of one year prior to the issuance of show-cause notice ..... the excise duty on excisable goods shall be levied and collected at the rates specified in the schedule to the central excise tariff act, 1985 ('1985 act'). however, the proviso to section 3(1) of the 1944 act provides that in respect of dta clearances of excisable goods processed / manufactured by a 100% eou, the excise duty shall be ..... even if duty was not paid on account of approved classification list / price list / assessment order, it does not mean that the ao can disregard the orders passed by the higher authorities. by amending section .....

Kotak Mahindra Finance Limited Vs. the Deputy Commissioner of Income-t ...

Court : Mumbai

Reported in : 2004(2)BomCR367; (2003)184CTR(Bom)527; [2004]265ITR114(Bom); 2003(4)MhLj806

..... 2. return of income was filed on 6/10/1989 by the assessee declaring its total income of rs. 73,47,279/- as profits under section 115j. the assessee is a leasing and financing company having its income from lease rent, bill discounting and service charges. during the course of hearing, certain issues were raised. on of the ..... dated 20/8/2001 in ita no. 9987/bom/92 in respect of assessment year 89-90, the assessee has come by way of appeal under section 260a of the income-tax act, 1961. this appeal involves interpretation of an entry in appendix-i - 'depreciation table', which prescribes table of rates at which depreciation is admissible. the ..... , therefore, contended that there was no reason for the tribunal to examine the alternative argument of the assessee as stated above. he contended that under the income-tax act, each assessment year is a separate event. that, merely because higher depreciation was wrongly granted for assessment year 1988-89, did not bind the department to grant the .....

Commercial Corporation of India Ltd. Vs. Income-tax Officer and Others

Court : Mumbai

Reported in : [1993]201ITR348(Bom)

..... of winnings from any lottery in an amount exceeding rs. 5,000 shall, at the time of payment thereof, deduct income-tax thereon at the rates in force. section 115bb inserted by the finance act of 1986, with effect from april 1, 1987, says that where the total income of an assessee includes any income by way of winnings from any lottery, the ..... article 32 of the constitution. 20. the nearest case on locus in so far the present case is concerned is the decision in indian explosives ltd. v. commissioner, sales tax [1978] 41 stc 315 . the question was whether, in the matter of inter-state sale on supply of naphtha through pipelines from bihar to u. p., the purchaser from whom ..... selling lottery tickets, the lottery being conducted by the state of karnataka. the agent was getting a commission at 15 per cent. in the return filed for the assessment year 1978-79, he disclosed a total income of rs. 88,240 comprising the commission received from sales of lottery tickets as well as a sum of rs. 1,00,000 .....

M.K. Kirtikar Vs. Commissioner of Income-tax, Bombay City, Bombay

Court : Mumbai

Reported in : AIR1956Bom436; (1956)58BOMLR122; ILR1956Bom126

..... the assessment is made, the income becomes liable to pay income-tax under section 3, according to the provisions of the income-tax act. as to what the actual amount of tax is a mere matter of arithmetical computation. the rate is laid down in the finance act and the rate 13 to be applied to the total income. it is difficult ..... to understand how this position is altered by the fact that the assessee got exemption under section 25 (4). in its very nature an exemption can only be claimed provided there ..... not entitled to the exemption. now, what is the meaning of the expression 'charged'? section 3, income-tax act is the charging section, and a charging section in a fiscal statute means that by that section the subject becomes liable to pay tax referred to in that section. the liability to pay tax can only arise if the income or profits of the .....

Jivan Vinayakrao Baride Vs. Dinesh Ramdulare Gupta

Court : Mumbai

Reported in : 2009CriLJ2540

..... that the revisional court has acted in excess of powers available to him under section 397 of cr.p.c. while allowing the revision. it is further argued that the j.m.f.c., purna has rightly issued the process against the respondent no. 1 in the capacity of manager of ashok leyland finance company who has committed ..... the offence and needs investigation and trial under sections 418, 420, 468, 471 and 218 of indian penal code. it is further argued that the revisional court has committed error ..... proceedings are pending, is not applicable in the present case. the criminal proceedings were quashed by the learned sessions court holding that the alleged offending acts do not constitute any offence under sections 418, 420, 468, 471 and 218, relying on triloksing's case. in the instant case, pendency of adjudication under civil proceedings is not .....