Court : Mumbai
Reported in : 1984(3)ECC292; 1984(18)ELT701(Bom)
..... under the saving clause to section 47 of the finance act of 1982, (as a result of which section 4(4)(d)(ii) was amended with retrospective effect from 1-10-1975) it is inter alia provided as follows :'section 47(2)(a) ... ... ... ...(b) ... ... ... ...(c) ... ... ... ... ..... 239 (del) a division bench of the delhi high court, considered another amendment made in the central excises and salt act, 1944 by the same act, namely, the finance act of 1982. ..... the amendment which was required to be considered by the delhi high court also contained in the amendment act a saving clause with a sub-section identical with sub-section 2(d) in the saving clause to section 47 of the finance act, 1982. ..... in the present case the petitioners have also challenged the retrospective amendment to section 4 which has been made by the finance act of 1982. ..... this position is now made clear by virtue of an 'explanation' which has been added to section 4(4)(d)(ii) with retrospective effect from 1st october 1975 under section 47 of the finance act of 1982. ..... equal to, any duty of excise already paid on the raw material or component parts used in the production or manufacture of such goods) from the duty of excise under such act is for the time being in force, the duty of excise computed with reference to the rate specified in such act in respect of such goods as reduced so as to give full and complete effect to such exemption; and(ii) section 4 envisages a method of collecting tax at the point of the first sale .....
Tag this Judgment!Court : Mumbai
Reported in : (2007)109BOMLR2167; 2007(122)ECC267; 2007(148)LC267(Bombay); 2007(218)ELT516(Bom)
..... cotton mills (supra), the central government amended rule 9 and 49 of the 1944 rules by finance act, 1982 with retrospective effect from 28th february, 1944 by inserting an explanation in each rule. ..... the said decision, the apex court while upholding the constitutionality of the retrospective amendment to rule 9 and 49 of the 1944 rules by finance act, 1982, held that the recovery of excise duty on account of retrospective amendment shall be subject to the limitation prescribed under section 11a of the 1944 act.12. ..... at the outset, it may be noted that the observations made by the apex court in all the above cases regarding the issuance of notice under section 11a of the 1944 act was in the context of the excise duty that became payable on account of the apex court upholding the validity of the amendment to rule 9 and 49 of the 1944 rules with retrospective effect from 28-2- ..... accordingly, mr.patil submitted that in the present case, admittedly, the revenue has not issued a notice under section 11a of the 1944 act and, therefore, the demand raised in respect of the yarn cleared for captive consumption during the period from may, 1981 to may,1984 is clearly time barred ..... appellant objected to the finalisation of the provisional assessment inter alia on the ground that in the absence of any show cause notice issued under section 11a of the 1944 act within six months from the date of amendment of rule 9 and 49 of the 1944 rules, recovery of excise duty would be barred by limitation.14. .....
Tag this Judgment!Court : Mumbai
Reported in : (2008)220CTR(Bom)249; [2009]312ITR40(Bom)
..... the scheme and purpose of section 54f, which was inserted by the finance act, 1982 with effect from 01.04.1983 i.e. ..... the deceased assessee admittedly sold and purchased the property from the realisation but in the name of the adopted son, who in the scheme of the act and section 54f is not an assessee, who after selling the old asset purchased and constructed the new property. ..... is as under:'assessee' means a person by whom [any tax] or any other sum of money is payable under this act, and includes-(a) every person in respect of whom any proceeding under this act has been taken for the assessment of his income [or assessment of fringe benefits] or of the income of any other person in respect of which he is assessable, or of the loss sustained by him or by such other person, or of the amount of refund due to ..... ) the andhra pradesh high court has granted exemption under section 54 of the income tax act and observed as under:relying upon the expression 'assessee' occurring in section 54 of the act, it is contended for the department that in order to claim the exemption, the person who sold the house must be the same as the person who purchased the house, that is, the assessee must be one and ..... 2197/2002 on 18.06.2002 and has challenged the recovery proceedings initiated under section 156 of the it act read with penalty under section 271(1)(a) and basically denied the tax liability of timaji (deceased). .....
Tag this Judgment!Court : Mumbai
Reported in : (1994)116CTR(Bom)523; [1995]214ITR143(Bom)
..... involves consideration of the interesting and important question of law as to the interpretation of section 54 of the income-tax act, 1961, as it stood prior to its amendment by the finance act, 1982. ..... was amended further by the finance act, 1982. ..... ' by section 10 of the finance act, 1978, the following changes were effected in the said section with retrospective effect from april 1, 1974 : '(i) section 54 was renumbered as sub-section (1) thereof, and in, sub-section (1) as so renumbered, after the words ..... inter alia, observed as under (headnote) : 'in order to claim exemption under section 54 of the income-tax act, 1961, in respect of a residential house, the house in question should have been used by the assessee or his parents for an unbroken and continuous period of two years ..... counsel for the revenue has supported the interpretation of the relevant provision of the act as done by the madras high court and the gujarat high court referred to ..... we have carefully considered the relevant provisions of the act and the relevant case law cited by learned counsel on ..... by this reference made under section 256(1) of the act, at the instance of the revenue, the tribunal has referred the following question to this court, for its opinion : 'whether, on the facts and in the circumstances of the case and on a proper interpretation of the words ..... the above referred amending act did not make any significant change in section 54 as it stood prior to amendment in so far as the problem under .....
Tag this Judgment!Court : Mumbai
Reported in : (2004)188CTR(Bom)232; [2004]267ITR488(Bom)
..... with a view to encouraging larger exports of certain goods, the finance act, 1982, had inserted section 89a in the it act w e f 1st june, 1982, for providing tax relief to indian companies and non-corporate taxpayers resident in india whose export turnover for a year exceeds the export turnover for the immediately preceding year by more than 10 per cent ..... sales also, it is considered that the same policy should be adopted 'it is, thus, clear that the right to exploit the film given by way of lease, has now been regard as sale by the constitution (forty-sixth amendment) act, 1982, for the purposes of sales-tax laws after 46th amendment to the constitution, the same concept with respect to the lease transactions of feature films is introduced in the income-tax legislation via rules 9a and 9b of the ..... , section 80hhc again came to be amended for and from the asst yr 1991-92 which further came to be substantially amended by the finance (no 2) act, 1991, which further came to be amended by the finance act, 1992, w e f 1st april, 1992 the departmental circulars to explain the amendments made from time to time and laying down broad features thereof were issued by the central board of direct taxes ('cbdt' for short) .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Reported in : (1991)LC65Tri(Mum.)bai
..... wordings of the supreme court vide para 33 of the judgment, the position is made clear as below: "in the absence of any specific provision overiding section 11-a, it will be consistent with rules of harmonious construction to hold that section 51 of the finance act, 1982 in so far as it gives retrospective effect to the amendments made to rules 9 and 49 of the central excise rules, is subject to the provision of section 11-a." 20. ..... this is for the reason that these notices were not notices in terms of section 51(2)(d) of the finance act, 1982 but in terms of section 11-a of the central excises act and had been made for duty which was payable in law (even prior to the amendment) as held by the karnataka high court in the davangere cotton mills case (supra) [1986 (7) ecr 137] and demanded in ..... has held the same view, which we would like to reproduce: "now section 51(1) of the finance act, 1982, clearly provides that the amendments to rules 9 and 49 by notification dated 20-2-1982 shall be deemed to have, and to have always had effect on and from the date on which the central excise rules, 1944, came into force. ..... the notices must, in the circumstances, be deemed to have been as validly and effectively issued as if the amendments brought about by section 51 of the finance act, 1982, read with the notification dated 20-2-1982, were in force during the period material to the notices. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Reported in : (1990)(30)LC491Tri(Mum.)bai
..... 51(2)(d) of the finance act, 1982, were so issued under the aforesaid section of the finance act and if so, they are not valid notices and the demands covered by ..... of the finance act, 1982 reads as ..... power of recovery and the manner in which recovery is to be done, the officer cannot exercise that power under any other provision, that too under the provision of totally a different act, namely, the finance act, 1982.16. ..... 51 of the finance act, 1982 could be held ab initio bad and are contrary to the statutory ..... 51(2)(d) of the finance act, 1982, can be held to be valid despite the fact that the said show cause notices have not ..... 51(2)(d) of the finance act, 1982 and held that the show cause notices are required to be ..... 51 (2)(d) of the finance act, 1982, do not vest power in the revenue for the issue of ..... of the finance act, 1982 cannot over-ride ..... finance act, 1982 ..... hence it could be that the authority who issued the show cause notice had the misconception that the notice could be issued under section 51 of the finance act as well, so long as it is within the purview of the time limit prescribed under section 11a of the cesa.probability of such misconception is also not without any basis because of the fact ..... 51 of the finance act in respect of the periods prior to 20-2-1982 because the cause of action has arisen only on that day, after the amendment to rules 9 ..... 51(2)(d) of the finance act, the notices issued prior to 20-2-1982 are ab initio ..... finance act was introduced effective from 28-2-1982 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1992)41ITD60(Mum.)
..... we find that this deduction was originally brought under section 89a by finance act, 1982 and in this connection we may refer to the hon'ble finance minister's speech as under : i will now come to some proposals regarding foreign exchange ..... of india as convertible foreign exchange for the purposes of the foreign exchange regulation act, 1973, and any rules made thereunder; (b) 'export turnover' means the sale proceeds of any goods or merchandise exported out of india, but does not include freight or insurance attributable to the transport of the goods or merchandise beyond the customs station as defined in the customs act, 1962.this section was brought in by the finance act, 1983 with effect from 1-4-1983. ..... are in the present case concerned with assessment year 1983-84 when section 80hhc as it stood before its amendment by the finance act, 1985 with effect from 1-4-1986, was applicable. ..... he also brought to our notice the provisions of the finance act, 1991 providing that 80hhc deduction would not be eligible on counter sales, but only with effect from 1-4- ..... its dictionary meaning is to carry or send goods out of country, as goods in commerce.as noun, it means as an act of exporting; that which is exported; a commodity which is or may be sent from one country to another in traffic ..... he then referred to the import & export policies for 1981-82 and 1982-83 treating sales to foreign tourists as deemed export and entitling an assessee to import replenishment licences for such deemed .....
Tag this Judgment!Court : Mumbai
Reported in : 1988(3)BomCR675; 1988(18)ECC31; 1988(18)LC452(Bombay); 1988(37)ELT173(Bom)
..... under the finance act, 1982 under section 50 special duties of excise have been ..... was urged before the delhi high court that exemption from excise duty would not include exemption from special excise duty under a special enactment or an additional excise duty under a finance act or an auxiliary duty under a statute. ..... duty of customs was held not to include other kinds of customs duties which are prescribed either under section 3 of the customs tariff act or under the finance act. ..... held that the words in the exemption notification 'from so much of the duty of excise leviable thereon as is in excess' would cover all kinds of duties of excise including a special duty of excise levied under the finance act.7. ..... under section 50 in the case of goods chargeable with a duty of excise under the central excises act, there shall be levied and collected a special duty of excise equal to ten percent of the amount so chargeable on such ..... of india, ministry of finance and others, dated 10th october, 1983 and delivered by a division bench of the kerala high court, consisting of the acting chief justice mr. ..... under sub-section (4) of section 50 the provisions of the central excise act and the rules made hereunder, including those relating to refunds and exemptions from duties shall apply in relation to the levy and collection of the special duties of ..... 15-a of the first schedule to the central excises and salt act, 1944 (1 of 1944), from so much of the duty specified in the corresponding entry in column .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (1999)68ITD205(Mum.)
..... by the finance act 1982 w.e.f. ..... payment of interest which amounts were separately mentioned, covering a period of five years it was difficult to believe that a company like the assessee which has got the benefit of best of advice besides its own finance and taxation cell, would not be under a legal obligation to deduct the tax at source from payment of interest amounting to several crore in all and several lakh of rupees each year.he submitted that a strict ..... society engaged in carrying on the business of banking (including a co-operative land mortgage bank), or (b) any financial corporation established by or under a central, state or provincial act, or (c) the life insurance corporation of india established under the life insurance corporation act, 1956 (31 of 1956), or (d) the unit trust of india established under the unit trust of india act, 1963 (52 of 1963), or (e) any company or co-operative society carrying on the business of insurance, or (f) such other institution, association or body or class of ..... stood at the relevant time before being modified by finance acts 1987 and 1992. ..... the arguments of the learned counsel for the assessee it would mean that we should ignore all the provisions of the it act and the authority given to the ito and should permit the assessee to have a foresight as on 20th september, 1977, to know that when the gesco would file its return of income on 27th june, 1978, and when the assessment of that company would be made on 27th september, 1982 i.e. .....
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