Court : Karnataka
Reported in : (2003)185CTR(Kar)417; [2004]265ITR498(KAR); [2004]265ITR498(Karn)
..... is stated by the department that the process of auction by the excise department of the government and the purchase of goods by the successful excise contractors from the petitioner are not at all two distinct and independent acts as erroneously presumed by the petitioner, but, on the other hand, there exists an inextricable and non-detachable link between the two inasmuch as a successful excise contractor can alone purchase arrack from the petitioner. ..... later, in terms of the finance act, of 1988, section 206c was ..... in that case, the petitioner filed petitions praying for writ of mandamus directing the respondents not to deduct tax at source under section 206c of the it act from the petitioner who are holding l-13 licences treating them as buyers where goods have not been obtained by them by auction and where sale price of such goods to be sold by them is fixed by the ..... , in terms of the finance act, 1992, section 44ac was ..... the supreme court noticed section 206c and thereafter the supreme court has ruled as under :'it is quiet evident that section 206c of the it act refers to a case where by reason of the payment to the seller the producer gets specific goods mentioned in the table to the said section or gets a right to collect or receive those goods by virtue of ..... courts to know what were the circumstances with reference to which the words were used and what was the object which parliament had in view especially in these days when there are no preambles or recitals to give guidance. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1960Cal619,65CWN61,[1962]44ITR315(Cal)
..... section (14a) of section 2 which was inserted by the adaptation of laws order 1950 and subsequently substituted by the finance act 1950 'taxable territories' means in respect of any period before august 15, 1947 the territories then referred to as british ..... madan gopal kabra, : [1954]25itr58(sc) , their lordships of the supreme court decided that the finance act of 1950 which authorised the levy of tax on income accruing in the territory of rajasthan in the year ..... before the indian independence act came into force, the escaped income attracted the quality of taxability by reason of section 3 of the indian income-tax act, and also the liability to be charged with income tax by reason of the finance acts which were passed from ..... appellant in respect of these three assessment years, including the tax in respect of the income if any which escaped assessment, became due from the appellant as and when the finance act for each of those years were passed. ..... where the supreme court decided that parliament had power to make laws authorising officers, authorities and tribunals appointed or constituted under the indian income tax act, 1922, to levy, assess and collect income-tax and super-tax payable under the mysore law prior to the commencement of the constitution of ..... 162 of air):'our constitution, as appears from the preamble, derives its authority from the people of india, and learned counsel conceded that it was open to the people to confer on the legislatures established by the .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1984)(16)ELT445TriDel
..... of a notice dated 7-7-1980 requiring the respondent to show cause as to why the product manufactured by the respondent should not be classified as one falling under item 15aa of the first schedule to the central excises and salt act; (b) against the order of adjudication dated 9-1-1981, an appeal was filed by the respondent to the collector (appeals), bombay; (c) the collector (appeals) had allowed respondent's appeal on 12th of february, 1982 and communicated his ..... although enacted by the finance act of 1980, they became operative ..... a counter to the application for stav- alleging that- * (i) the instant appeal itself is barred having been filed beyond the period prescribed ; and (ii) in terms of section 35(f) of the central excises and salt act 1944 the tribunal has jurisdiction only to dispense with a deposit of duty or penalty due as a condition precedent for the hearing of the appeal. ..... it is not understood how the preamble refers to procedure not yet come into force; (e) on 12-2-1982, when the appeal was disposed of by the collector (appeals), the appellant's remedy was actually by way of revision to the central government in terms of section 36 of the act, as it read at the relevant time and not by way of an appeal to the tribunal; (f) no period of limitation was prescribed in terms of section 36(1) for an application of revision preferred by a person aggrieved by the ..... deposit is relatable to the maintainability of the appeal itself; (b) in 1983(2) etr 357 (atma steels pvt. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1990)34ITD397(Mad.)
..... at the date of the original assessment an absolute obligation imposed upon the assessee to pay interest under section 18a(6), but by reason of the retrospective operation given to the fifth proviso added to sub-section (6) by act 25 of 1953, the income-tax officer was invested with the discretion to reduce or waive interest payable by the assessee, this power of the income-tax officer, must, in view of the retrospective amendment, be ..... in 1983-84 under the provisions of finance act, 1984, sections ..... it was given retrospective operation from april 1, 1952, and the discretion conferred upon the income-tax officer because, by fiction of law, exercisable as from april 1,1952, even though the act came into force from may 24,1953, and the cases in which and circumstances under which the discretion was to be exercised were prescribed by the central government by rule 48 in december ..... , no doubt, was enacted only by the finance act of 1984, which was a date subsequent ..... institution out of the sum paid by the assessee, be transferred to him, and where any claim is so made, such asset shall be transferred, as soon as may be, to him.the aforesaid provisions were inserted by finance act, 1984 with retrospective effect from 1-4-1980. ..... the object of the trust as stated in the preamble is to promote, support, advance, assist or otherwise whether by grant or payment of money or loans and advances or by providing amenities or facilities and its activities for the welfare and interest of all .....
Tag this Judgment!Court : Mumbai
Reported in : [1961]43ITR22(Bom)
..... an income-tax reference under section 66(1) of the income-tax act and raises a question under section 7(1), read with explanation 2, of the act as it stood before its amendment by the finance act of 1955. 2. ..... riches, the real question for the purpose of deciding whether the income-tax act applies is whether the added sum is capital or income, not whether the sum is ..... now, the material portion of section 7 and explanation 2, of the income-tax act of 1922 as they stood at the relevant time are as follows : 'the tax shall be payable by an assessee under the head 'salaries' in respect of ..... termination had been brought about by willful default on the part of the employee or as a result of a wrongful act on his part or by his misconduct, he was still entitled to the payment. ..... on an application made by the assessee under section 66(1) of the income-tax act, the tribunal drew up a statement of the case and referred the following two questions of law as arising out of its order : '(i) whether on the facts and circumstances of the case, the ..... the payment may be saved under the relevant part of explanation 2 to section 7 of the act, the payment has to be solely as compensation for loss of employment. ..... the preamble of the agreement itself stated as follows : 'whereas ..... the preamble of this agreement stated that as the assessee had put in very valuable services in the company since its inception in promoting, building up its business and bringing it in repute which it was enjoying and was still .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2002)80ITD484(Hyd.)
..... we are convinced with the ld.assessee's counsel's argument that the finance act, 1984 states the legislative intent and describes a situation where explanation of taxpayer of loans obtained ..... with a view to circumventing this device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits, the bill seeks to make a new provision in the income-tax act debarring persons from taking or accepting, after 30th june, 1984, from any other person any loan or deposit otherwise than by an account payee cheque or account payee bank draft if the amount of ..... as the appeal is on ground that the learned special judge has failed to award the sentence in accordance with the provisions of section 276dd of the income-tax act on the presumption the fine amount should be equal to the amount of deposit and as i am not prepared to agree with that contention of learned counsel for the appellant, i hold that the appeals are liable ..... legislative intent, the cbdt has explained the object of introduction of section 269ss by the finance act, 1984, in its circular no. ..... under the section as substituted, the time-limit for making an order imposing a penalty under the provisions of chapter xxi of the income-tax act will, ordinarily, be two years from the end of the financial year in which the proceedings, in the course of which action for imposition of penalty has ..... that the headings prefixed to sections or set of sections in some modern statutes are regarded as "preambles" to those sections. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (2004)87TTJ(Hyd.)1098
..... we are convinced with the learned assessee's counsel's argument that the finance act, 1984, states the legislative intent and describes a situation where explanation ..... support of their explanation.with a view to circumventing this device, which enables taxpayers to explain away unaccounted cash or unaccounted deposits, the bill seeks to make a new provision in the income tax act debarring persons from taking or accepting, after 30-6-1984, from any other person any loan or deposit otherwise than by an account payee cheque or account payee bank draft if the amount of such ..... of the various judicial pronouncements on this matter, we hold that the transaction of this case on hand cannot be considered as "loan" so as to aitract section 269ss and section 271d of the act, (h) we are also of the considered opinion that the transaction can be aitributable to various exigencies and vicissitudes of business and thus constitutes a "reasonable cause" as contemplated by section 273b of the ..... on the facts of the case, he contended that the learned commissioner (appeals) erred in not holding that there is a "reasonable cause" within the meaning of section 273b of the act, as the assessee in its running account with the director, had received temporary advances, which was required by business exigencies, as it had issued certain cheques which were to be presented ..... sections or set of sections in some modem statutes are- regarded as "preambles" to those sections, this view was approved by farewell l.j. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT
Reported in : (2008)9STR15
..... therefore, this activity clearly falls within the ambit of definition of section 65(92) of the finance act, 1994. ..... in para 13, it is noted by the commissioner that clause h of preamble of the agreement indicate that the appellant would supply apis of the products to clients as a preferred customer at competitor's rates.3. .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (2006)2STR194
..... 14,26,231/- of service tax under the provisions of section 73, chapter v of finance act, 1994, was confirmed, a penalty of equal amount was imposed and payment of ..... by the learned counsel appearing for the applicants/appellant that since no assessment period was specified in the show cause notice, the procedure prescribed by section 73 of the said act was not followed and the show cause notice was, therefore, illegal and void as a consequence of which the proceedings pursuant thereto are also illegal. ..... not be demanded and recovered from them under section 73b(it should be under section 73(1) chapter v) of the finance act, 1994 along with interest and penalty under the relevant provisions of the said act. ..... the deputy commissioner taking into consideration the definition of "consulting engineering services" under section 65(31) of the said act and the government circular dated 2nd july 1997 which clarified the scope of a consultant by including, construction, supervision, project management, supervision of commissioning and initial and post operation and management and ..... service tax liability is linked with individual transactions unlike under the income tax act where it is based on the income during the relevant assessment year. ..... contracts with indian engineering consultants selected by the appellant and approved by haldor topsoe and haldor topsoe was to enter into a separate agreement with engineering consultant engaged by iffoco as contemplated in the preamble to the agreement. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1990)32ITD172(Mad.)
..... in 1983-84 under the provisions of finance act, 1984, sections 40a(9), (10) and (11) are inserted. ..... allowed in the hands of the company while computing its business income of previous years in which such expenditure is laid out or expended, should be allowed while computing the business income under section 28 of the income-tax act as if such expenditure has been laid out or expended by the assessee-company, the invalidity of the trust deed contemplated under section 40a(11) is absolute in its terms and the trusts will no longer be considered to be in existence ..... the said return was filed on 28-6-1982 at a time when the provisions of sub-sections (9)1 to (11) of section 40a were not inserted in the statute book with retrospective effect from 1-4-1980 by finance act, 1984. ..... parties or persons.i am of the opinion that the general meaning of the word "asset" should not be applied while construing the real meaning of the words in sub-clause (ii) of sub-section (11) of section 40a of the income-tax act.to my mind, it appears that the ejusdem generis rule canvassed by the learned departmental representative clearly applies to the word "asset". ..... the object of the trust as stated in the preamble is to promote, support, advance, assist or otherwise whether by grants or payment of money or loans and advances or by providing amenities or facilities and its activities for the welfare and interest of all permanent management employees of the settlor company. .....
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