Court : Rajasthan
Reported in : AIR2001Raj170; [2001]106CompCas629(Raj); 2001(2)WLC79; 2003(1)WLN620
..... this act or the rules made thereunder shall be in addition to and not in derogation if, the industrial finance corporation act, 1948 (15 of 1918), the state financial corporations act, 1951 (63 of 1951), the unit trust of india act, 1963 (52 of 1963), the industrial reconstruction bank of india act, 1984 (62 of 1984), and (the sic industrial companies (special provisions) act, 1985 and the small industries development bank of india act, 1989)' section 4 of the rru act; ..... that- (a) in relation to any relief undertaking and in respect of the period for which the relief undertaking continues as such under sub-section (2) of section 3:- (i) all or any of the laws mentioned in the schedule to this act or any provisions thereof shall not apply (and such relief undertaking shall be exempted therefrom) or shall, if so directed by the state government, be applied with such modifications (which do not however affect the policy of ..... 5 industrial finance corporation of india acting for itself and as agents of other financial institutions, that in the event of sale of the immovable properties and assets on which under joint mortgage they have first charge in their favour and the applicant bank has the second charge, the sale proceeds may be distributed as per the terms and conditions of joint mortgage and the share of the applicant ..... and to deal with this principal issue, we may first set out in extenso section 34 of the rdb act and section 4 of the bru act and rru act, which are as under-'31. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1970Raj70; [1969]74ITR378(Raj); 1969()WLN83
..... income-tax' as used in sub-section (3) (a) of section 2 of the finance act, 1957, does not include the amount of surcharge for the union and also the amount of special surcharge as prescribed under the head 'surcharges on income-tax' in the first schedule of the finance act of 1957, the argument of learned counsel for the assessee loses all its ..... dividend income of the assessee is to be computed with reference to the rate or rates applicable under the operation of the finance act of 1956 it does not mean that the dividend income shall escape the levy of a special surcharge which is required to be imposed under section 2 (1) (a) of the finance act, 1957 read with the first schedule appended to that act which prescribes the rate for the special surcharge on unearned income. 5. ..... assessee paragraph a of the first schedule of the finance act, 1957 applies. ..... five per cent to add the surcharge and by fifteen per cent to add special surcharge calculated in the manner provided under the heading 'surcharges on income-tax' in the first schedule of the finance act, 1957. ..... provisions of sub-sections (2), (3), (4) and (5) for the year beginning on the 1st day or april, 1957, income-tax shall be charged at the rates specified in part i of the first schedule of that act and in the cases to which paragraphs a, b and c of that schedule apply, shall be increased by a surcharge for purposes of the union and a special surcharge on unearned income calculated in either case in the manner provided in the .....
Tag this Judgment!Court : Rajasthan
Reported in : 1981(8)ELT440(Raj); 1978(11)WLN481
..... the revisional authority rejected the revision application by one order holding that the machineries in question are not mining machinery within the meaning of item 72(18) of the first schedule to indian tariff act but he, however, conceded that the ground of the first appellate authority that the petitioners having once opted for assessment under item 72a could not claim reassessment under item 72(18) was erroneous and, therefore, the petitioners could claim reassessment of the ..... schedule i to the central excises and salt act, 1944 (hereinafter to be referred to as 'the excise act') as amened by the finance act, 1960 contained item no. 33. ..... this is further clear from the fact that for the first time by the finance act, 1969, sub-item (aa) was added to item no. ..... therefore, from 1960 until the finance act, 1969 came into force, it is clear that the legislature did not levy any excise duty upon the goods in question. ..... but this duty is kept distinct from the customs duty and this would be clearly seen if we look into the proviso to section 26 (1) of the finance act, 1965 and subsequently incorporated in section 57(1) of the 1964 act and section 76(1) of the 1965 act. ..... hence it is only with effect from the date on which the finance act, 1969 came into force that the goods of the kind mentioned in the bill of entry (ex. ..... 360 per m.t besides this the goods were further chargeable to regulatory duty of 10% then in force levied under section 77 of the finance act, 1965. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1960Raj92
..... had been affirmed by the united state of rajasthan and the liability to indemnify had devolved on the state of rajasthan the agreement would have become frustrated within the meaning of section 56, contract act, on the coming into fores of the finance act, 1950, because the consideration for the agreement namely payment of 7 1/2 per cent on the net profits became irrecoverable by it in view of that statute and the provisions of the constitution. ..... excise duties ordinance 1949 provided for levying duties of excise on all excisable goods produced or manufactured in rajasthan whether in stock on the 1st april 1949 or thereafter produced or manufactured at rates set forth in the first schedule.section 30 provided for the repeal of all laws dealing with matters covered by the ordinance, in force at the commencement thereof in any part of rajasthan. ..... promulgated by the raj pramukh, under section 3 of which excise duties became payable retrospectively on cloth manufactured in rajasthan whether in stock on the first day of april 1949 or thereafter manufactured, at rates set forth in the first schedule.6. ..... the letter if analysed, first of all intimates the refusal of the government to exempt the mills from payment of excise duty and secondly an advice is given that the mills may approach the government in future, if circumstances change ..... firstly the plaintiff mills can be treated to be a class by itself on account of its history, the adverse climatic conditions, the non-availability of .....
Tag this Judgment!Court : Rajasthan
Reported in : [1987]163ITR278(Raj)
..... in the finance act, 1964, provision was made with regard to imposition of super-tax at the rate of 55% on every company other than the life insurance corporation of india in paragraph d of part ii of the first schedule to the said act. ..... in the finance act, 1965, first schedule, part i ..... the aforesaid definitions of the expressions 'company' and 'indian company' show that the provisions in the finance act, 1964, and the finance act, 1965, relating to rebates were mainly in relation to companies formed and registered under the companies act, 1956, and companies formed and registered under any law relating to companies formerly in force in any part of india ..... required to deal with the same issue which arises for consideration in this case, namely, whether the dividend paid on the shares of the bihar state financial corporation established under the financial corporations act, was entitled to rebate under the finance act, 1964, and the finance act, 1965, on the ground that the said shares were preference shares. ..... next contention urged by shri agrawal was that even if the expression 'preference shares' as contained in the finance act, 1964, and the finance act, 1965, is construed with reference to the provisions contained in companies act, 1956, the shares of the assessee were in the nature of 'preference shares' and the dividend paid on the said shares was dividend paid on preference shares and was, therefore, entitled to rebate under the finance act, 1964, and the finance act, 1965. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1956Raj30; [1956]29ITR165(Raj)
..... we are taking is further confirmed by the provision of the first schedule to the finance act of 1955 dealing with the question of exemption. ..... i of schedule i of section 2, finance act of 1951?'3 ..... the reference by the appellate tribunal to a full bench for answer, namely,'whether a son or grand-son can be said to be lineal descendant of his mother or grandmother respectively within the meaning of condition (b) of clause (1) of part 1(a) of schedule 1 of the indian finance act (no. 23) of. ..... in the finance act of 1955, the words used are:'lineally descended from any other living member of the family not entitled ..... the finance act of ..... finance act ..... is used in the statute with reference not to one-school only of hindu law, but to all schools; and their lordships think it a mistake in method to begin by pasting over the wider phrase of the act the words 'hindu coparcenary' -- all the more that it is not possible to say on the face of the ..... to the questionput to us by the division bench is that a sonor a grand-son can be said to be a lineal descendant of his mother, or grand-mother respectively within the meaning of condition (b) ofclause (i) of part 1 (a) of schedule 1 of the indianfinance act (no. ..... to us that the 'descent' is lineal if it goes from mother to daughter, and granddaughter, and great grand-daughter, because here also it is in a right line without any deviation.section 25, indian succession act defines 'lineal consanguinity', while section 26 defines 'collateral consanguinity'. .....
Tag this Judgment!Court : Rajasthan
Reported in : 1993(63)ELT612(Raj)
..... 20-2-1982 and section 51 of the finance act ultra vires of the constitution whereby rules 9 and 49 of the central excise rules have been amended.2. ..... further section 51 of the finance act, 1982 giving retrospective effect to the said amendments is also legal and valid, and mr. ..... during the pendency of the writ petition by section 51 of the finance act, 1982, rules 9 and 49 of the central excise rules have been amended by which the manufacturer is required to pay the excise duty on every intermediate stage and this amendment has been given retrospective effect from 28-7- ..... 68 of first schedule to the central excises and salt act, 1944 (hereinafter referred to be as the act). ..... by the finance act, 1980 w.e.f. ..... the petitioner has also prayed for a writ or order prohibiting the respondents from collecting any excise duty under item 15cc of the 1st schedule to the central excises and salt act, 1944 and has further prayed for declaring the amending notification no. 20/82 dt. ..... 18th june, 1980, the central government included molasses in the first schedule to the act as item no. ..... earlier the molasses was a non-excisable product but on 1st march, 1975, the union government for the first time imposed excise duty on the manufacture and production of molasses under item no. ..... uoi through secretary ministry of finance (w.p. no. ..... excise [1989 (40) e.l.t. .....
Tag this Judgment!Court : Rajasthan
Reported in : [1985]156ITR377(Raj)
..... income-tax officer discovers that he has overlooked the fact that section 2 of the finance act, 1952, read with part b, proviso (ii) of first schedule was attracted to the assessment in dispute making the assessee liable to the payment of additional income-tax, and also the fact that the assessee was liable to penal interest under section 18a(8) of the income-tax act, the order of the income-tax officer under section 35 imposing the additional tax ..... .the assessment order under section 143(3) for the assessment year 1967-68, made on 31-12-1971, requires to be amended as there is a mistake apparent from the record within the meaning of section 154/155 of the income-tax act, 1961, the rectification of the mistake, as per details given below will have the effect of enhancing the assessment/reducing the refund/ increasing your liability and if you wish to be heard, you are requested to appear ..... it was further held that the ito, under section 35 of the 1922 act, can examine the record and if he discovers that he had made a mistake, he can rectify the error.19. ..... it is established law by now that when jurisdictional facts are missing, then this court need not compel the assessee to undergo the entire ordeal of showing cause to the ito first and then file an appeal under the hierarchy, before the department under the act. ..... ito : [1959]36itr350(sc) wherein the scope of section 35 of the 1922 act was laid down in the following words (p. .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR2008Raj90; RLW2008(2)Raj1627
..... in our opinion, the state government is having legislative competence for the enactment of chapter vii of the finance act of 2006 and rules framed thereunder, therefore, the act of 2006 cannot be held to be ultra vires as it is falling under entry 49 of the state list of schedule ii of the constitution. 22. ..... however, state of rajasthan came up with enactments beyond their legislative competence, inasmuch as, at the first instance, rajasthan land tax act of 1985 was brought to impose tax on the minerals which was then struck down by the hon'ble apex court in a reported case of federation of mining association v ..... by notification in the official gazette: provided that the rate of tax under this section shall not exceed ten percent of the market value of the land:to support the arguments, learned counsel for the petitioners first referred the judgment reported in : [1962]46itr169(sc) , raja jagannath baksh singh v. ..... mehta in another manner by submitting that in the first notification the tax has been prescribed on the rate of rs. ..... firstly, referring to section 38 of the act of 2006, it was focused that the definition of land as provided under section 38 shows that the imposition of land tax is only on mineral bearing lands, inasmuch as, all other types of lands, like agricultural, residential and the urban lands have been excluded and by virtue of the aforesaid provisions, so far as the definition of the land is concerned, it remains same as was existing in the land tax act of 1985 .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1964Raj205
..... agreement reads as follows :'whereas provision is made by articles 278, 291, 295 and 306 of the constitution of india for certain, matters to be governed by agreements between the government of india and the government of a state specified in part b of the first schedule to the constitution: and whereas it is necessary to provide for certain other allied matters;now, therefore, the president of india and the raj-pramukh of rajasthan have entered into the following agreement, namely: the ..... recommendations of the indian states finances enquiry committee, 194849 (hereafter referred to as the committee) contained in part i of its report read with chapters i, ii and iii of part ii of its report, in so far as they apply to the state of rajasthan (hereafter referred to as the state) ..... ' sub-section (2) of this section further lays down that:'any functions so entrusted to a government or ruler shall be exercised subject to such conditions as may be imposed by the dominion government, including, notwithstanding anything in this act, any conditions with respect to finance, but it shall not be lawful for the dominion government so to impose any conditions regulating the matter broadcast by, or by authority of, the gov-ernment or ruler. .....
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