Court : Chennai
Reported in : [2002]255ITR339(Mad)
..... by the income-tax officer in the respective assessments in the absence of particulars furnished by the assessee 2. whether on the facts and in the circumstances of the case and having regard to the provisions of rule 9(5) of part iv of the first schedule to the finance act, 1979, the appellate tribunal was right in holding that there was neither an obligation on the assessee to return the net agricultural loss for the earlier years in the assessment of those years nor a duty was ..... absence of any express prohibition, an assessee is not to be denied the benefit of set off provided for in rule 9 of part iv of the first schedule to the finance act, 1979, as long as the assessee is able to show that he had incurred loss from his agricultural activities in the earlier assessment years after a computation made in accordance with the requirements of the rules provided in the relevant finance acts and that such loss had not been set off against the agricultural income of earlier years ..... . the finance act of 1979 in rule 9(5) of part iv of the first schedule theretoimposed a bar on loss not determined by the income-tax officer, under the provisions of those rules and the rules contained in the finance acts of earlier years being set off against the income of the assessee for the previous year relevant to the assessment year commencing on the 1st day of april, 1979 .....
Tag this Judgment!Court : Chennai
Reported in : [2000]246ITR796(Mad)
n.v. balasubramanian, j. 1. at the instance of the revenue, the appellate tribunal has stated the case and referred the following question of law under section 256(1) of the income-tax act, 1961, for the opinion of this court :'whether having regard to rules 5 and 7 in part iv of the first schedule to the finance act, 1979, the assessee's share of loss from a firm should be taken into account and given set off while computing the net agricultural income of the assessee for the year 1979-80 ?'2. a similar question came up before this court in the case of cit v. m. manickasundaram : [1996]220itr133(mad) wherein this court has held that the share of loss of an unregistered firm could not be taken into account and set off against the assessee's other agricultural income, while computing his net agricultural income in assessing to tax his non-agricultural income for the purpose of fixing the rate of tax. 3. we are of the opinion that the decision of this court in the case of cit v. m. manickasundaram : [1996]220itr133(mad) would govern the facts of the case as well. accordingly, we answer the question referred to us in the negative and in favour of the department. no costs.
Tag this Judgment!Court : Chennai
Reported in : 1990(25)ECC392; 1989(25)LC470(Madras); 1989(44)ELT464(Mad)
..... under the customs tariff act, the goods were subjected to a levy of 100 per cent basis import duty under chapter 56 of the first schedule of customs tariff act, 1975, and an auxiliary duty of 20 per cent leviable under section 32(1) of the finance act 1976, together with an additional duty leviable under section 3 of the customs tariff act 1976. ..... actual date of unloading is not placed before us, we give the following directions - (i) the point of time relevant for chargeability is the date of the actual unloading of the goods; (ii) if the date of unloading was on 4-1-1979, duty as now assessed on the basis of the customs tariff act, 1975, without any exemptions will stand; and (iii) if the date of unloading was either 5-1-1979 or thereafter, the first respondents shall assess afresh, the duty on the basis of notifications nos. ..... , the date of berthing of the ship, as the relevant date for determining the point of time when the goods could be treated as chargeable, the first respondent assessed the goods on the basis of the rates prevailing as on 4-1-1979, when none of the exception notifications was in force and assessed the tax on the basis of the customs tariff act. ..... though it is mentioned that the vessel was actually berthed on 4-1-1979, yet, the date of actual unloading is not mentioned by either of the parties. ..... the bill of entry had already been prepared on 8-12-1979, and had been received by the office of the first respondent on 13-12-1978. .....
Tag this Judgment!Court : Chennai
Reported in : 1997(89)ELT649(Mad)
..... has been levied on natural rubber under the central excises and salt act, 1944 for the reason that there is no such item in the first schedule to the said act and that by a notification under rule 8(1) of the central excise rules, all items under item 68 of the schedule which were manufactured outside a factory did not invoke a levy of ..... 68 of the first schedule to the said act, as it existed immediately before the commencement of the central excise tariff act, 1985 (5 of 1986), was not being levied under section 3 of the first mentioned act, during the period commencing on the 1st march, 1975 and ending with the 7th july, 1983, hereby directs that whole of the duty of excise payable under the first mentioned act on such preserved latex, latex concentrates, smoked rubber ..... (6) the expression 'excise duty' for the time being leviable on a like article if produced or manufactured in india which occurs in section 3(1) of the tariff act, 1975 means excise duty for the time being in force which would be leviable on a like article if produced or manufactured, in india or, if a like article is not so produced or manufactured, which would be leviable on the ..... central excises, dated the 1st march, 1979, the central government hereby exempts all ..... , 1981 in the following terms : 'in exercise of the powers conferred by sub-rule (1) of rule 8 of the central excise rules, and in supersession of the notification of the government of india, in the ministry of finance (department of revenue), no. .....
Tag this Judgment!Court : Chennai
Reported in : 1996(54)ECC125
..... no duty has been levied on natural rubber under the central excises and salt act, 1944 for the reason that there is no such item in the first schedule to the said act and that by a notification under rule 8(1) of the central excise rules, all items under item 68 of the schedule which were manufactured outside a factory did not invoke a levy of central excise;(2) there is no manufacturing process involved ..... 68 of the first schedule to the said act, as it existed immediately before the commencement of the central excise tariff act, 1985 (5 of 1986), was not being levied under section 3 of the first mentioned act, during the period commencing on the ist march, 1975 and ending with the 7th july, 1983, hereby directs that whole of the duty of excise payable under the first mentioned act tin such preserved latex, latex concentrates, ..... by the central board of excise and customs, smoked rubber sheets are included in the items of natural rubber; and(4) under section 11c of the central excises and salt act, a notification was issued, by which exemption was granted from duty for natural rubber including smoked rubber sheets for the period from 01.03.1975 to 07.07.1983. ..... cenlral excises, dated the 1st march, 1979, the central government hereby exempts all ..... in the following terms:in exercise of the powers conferred by sub-rule (1) of the rule 8 of the central excise rules, and in supersession of the notification of the government of india, in the ministry of finance (department of revenue), no. .....
Tag this Judgment!Court : Chennai
Reported in : 1984(2)ECC265; 1983(13)ELT909(Mad); (1983)IIMLJ92
..... dated 2-8-1976 issued by the government of india (ministry of finance), department of revenue and banking, in exercise of the powers conferred by section 25(1) of the customs act, the central government exempted viscose staple fibre when imported into india from the whole of the duty of customs leviable under chapter 56 of the first schedule of the customs tariff act. ..... 000417 dated 8-12-1978 of the first respondent, to quash the order passed on 31-1-1979 by the first respondent and to direct the first respondent to release the goods covered by import department serial ..... 000699 dated 13.12.1978 of the first respondents, to quash the order passed on 21.1.1979 by the first respondent and to direct the first respondent to release the goods without payment of any duty or additional duty. ..... however, the said request was refused and an order was passed on 20-1-1979 assessing the goods to basic duty as well as auxiliary duty in the following manner : rs.basic duty 100% 3,11,465 - 00auxiliary duty 20% 62,293 - 00additional duty ..... the notification dated 5-1-1979 to the effect that exemption with regard to additional duty under section 3 of the customs tariff act, 1975 is only as in excess ..... sen and others : 1979(4)elt241(sc) the dispute raised before their lordships related to the rate ..... the notification dated 5-1-1979 to the effect that exemption with regard to additional duty ..... ship entered into the territorial waters of india on 7-12-1978 and the vessel was berthed on 4-1-1979 at north quay. .....
Tag this Judgment!Court : Chennai
Reported in : 1994(48)ECC145; 1995(75)ELT478(Mad)
..... , nevertheless, whenever there is a notification issued giving exemption in the levy and collection of duty of customs, unless the notification mentions the exemption as relating to additional duty with respect to section 3 of the customs tariff act and annexure i to the first schedule to the said act, it is not possible to extend such exemption to the additional duty of customs, even though the additional duty is also a duty of customs and the exemption notifications relating to [sic] statutes are to be read strictly ..... (52 of 1962) the central government being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in column (2) of the table annexed hereto and falling under the heading number in the first schedule of the customs tariff act, 1975 (51 of 1975), specified in the corresponding entry in column (3) of the said table, when imported into india from brazil or spain or turkey or yugoslavia or the republic of korea or tunisia or the arab republic of egypt or chile or mexico ..... in support of the aforesaid prayers, the petitioner has relied upon three notifications dated 2-8-1976, 31-1-1979 and 11-5-1984 produced at pages 1 to 7 of the typed set of records.3. ..... - in exercise of the powers conferred by sub-section (1) of section 25 of the customs act, 1962 (52 of 1962) and in supersession of the notification of the government of india in the ministry of finance (department of revenue) no. .....
Tag this Judgment!Court : Chennai
Reported in : 1981(8)ELT162(Mad)
..... first schedule to the customs tariff act, 1975 (51 of 1975), when imported into india from (a) so much of that portion of the duty of customs leviable thereon which is specified in the said first schedule, as is in excess of 12.5 percent ad valorem and (b) the whole of the additional duty leviable thereon under section 3 of the second mentioned act. ..... it is now argued before me that because the vires of the notification dated 1st march, 1979, is involved, the writ petitioner has approached this court directly without exhausting the other remedies of appeal and revision to the central ..... on 1st march, 1979 the following notification came to be issued : government of indiaministry of finance (department of revenue) notification ..... cus (bud)/79 new delhi 1st march, 1979/ 10th phalguna 1900 saka notification customs gsr no....in exercise of the powers conferred by section 25 of the customs act, 1962 (51 of 1962), the central government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the table annexed hereto and falling ..... notification dated 1st march, 1979 cannot have retrospective effect; and (2) the power to grant exemption is under section 25 of the act. ..... dated 1st march, 1979, palmolein is exempted ..... on 18th february, 1979, there was a shipment of a stated quantity, which need ..... claimed a refund on the basis of the notification dated 1st july, 1977, which was rejected saying - 'with effect from 1st march, 1979 as per c.n. no. .....
Tag this Judgment!Court : Chennai
Reported in : 1981LC14D(Madras)
..... first schedule to the customs tariff act, 1975 (51 of 1975) when imported into india from (a) so much of that portion of the duty of customs leviable thereon which is specified in the said first schedule, as is in excess of 12.5 per cent ad valorem, and(b) the whole of the additional duty leviable thereon under section 3 of the second mentioned act. ..... filed in support thereof the order of the high court dated 10-8-79 and made herein and the counter affidavit filed herein and the records relating to the order in section 25/1874/79 dated 20-4-1979 on the file of the fourth respondent and comprised in the return of the respondents herein to writ made by the high court, and upon hearing the arguments of mr. t. ..... it is now argued before me that because the vires of the notification dated 1-3-1979 is involved, the writ petitioner has approached this court directly without exhausting the other remedies of appeal and revision to the central ..... on 1-3-1979 the following notification came to be issued:government of indiaministry of finance(department of revenue)notification ..... the notification dated 1-3-1979 would fully apply to ..... dated 1-3-1979 cannot have retrospective effect; and (2) the power to grant exemption is under section 25 of the act. ..... 42 dated 1-3-1979 palm olein ..... :with effect from 1-3-1979 as per c.n. ..... this section shall not apply to baggage and goods imported by post.therefore, the relevant date is the date of the presentation of the bill of entry, which, in this case is 16-j-1979. .....
Tag this Judgment!Court : Chennai
Reported in : (1984)42CTR(Mad)316; [1985]151ITR769(Mad)
..... . 31(3) of the finance act with effect from april 1, 1962, and that the assessee in that case is not liable for surtax under rule 1(viii) of the first schedule to the companies (profits) surtax act, 1964, in view of the language contained therein ..... the facts and in the circumstances of the case, the tribunal was right in holding that for the purpose of the computation of chargeable profits, the deduction under rule 1(viii) of the first schedule should be made only with reference to gross dividends, but not the net dividends as done by the income-tax officer ?' 2. ..... it is also been that in relation to the scope and ambit of rule 1(viii) of the first schedule to the companies (profits) surtax act, 1964, the supreme court has already granted special of the matter from the karnataka high court ..... no corresponding amendment has been made in the surtax act until the finance act, 1981, with effect from april 1, ..... gains bears to the total amount of its income, profits and gains, that the total income for purposes of rule 4 is the total amount of income computed in the manner laid down in the act and after deducting the items listed in chapter vi-a of the i.t. act, and that the aac had gone wrong in holding that in working out the capital base, rule 4 cannot be invoked in respect of deductions made under chapter vi-a of the i.t ..... . cit : [1979]118itr243(sc) , we ..... : [1979] ..... . cit : [1979]118itr243(sc) will ..... . cit : [1979]118itr243(sc) , the supreme court, while construing the .....
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