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Teksons Limited Vs. Commissioner of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (2000)(118)ELT657TriDel

..... the delay as submitted by the learned counsel are as briefly stated below : before 14-5-1992 (the date on which the finance act, 1992 came into force), appeals from orders of additional collector of customs and central excise acting as adjudicating authorities lay to the cegat. this position changed with the amendment of the relevant ..... whether appeals (like the captioned one) filed against adjudicatory orders of additional collectors of customs and central excise passed before 14-5-1992 (the date on which the finance act, 1992 came into force) were maintainable before the tribunal. this question was settled by the wrb as per misc. order dated 16-12 ..... provisions of law as brought about by the finance act, 1992 on 14-5-1992. accordingly, from 14-5-1992, the additional collectors came to be treated as lower in .....

Timken France Sas Vs. Director of Income-tax

Court : Authority for Advance Rulings

Reported in : (2008)BusLR60

..... process. in this connection, the counsel for revenue relies on the cbdt circular no. 636 dated 31.8.92 containing the explanatory notes to the provisions of finance act, 1992. while referring to the amendment of section 48 which introduced the concept of cost inflation index, it was stated as follows: as protection from rupee value ..... second proviso, it was conceived as a measure of off-setting the effect of inflation vide cbdt circular no. 636 dated 31.8.1992 containing explanatory notes on the provisions of finance act, 1992. the cost of acquisition of asset and the cost of improvement thereto are inflated to arrive at the indexed cost of acquisition and indexed ..... be ignored.13.1. the counsel for the applicant places reliance on the underlined words "all assessees" and submits that section 112(1) (as amended by finance act 1999) did not intend to maintain the distinction between resident and non-resident assessees. having regard to the fact that a level playing field between the non- .....

National Engineering Industries Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2002)80ITD9(Kol.)

..... proposition that there must be business of receiving deposits under a scheme or arrangement referred to in clause (va).13. as clause (va) to section 2(5b) was inserted by finance act, 1992 w.e.f. 1st april, 1993 and a reference to the rbi's guidelines has been made by the ..... would not be a financial company.8. what is a deposit is not defined in the act. its meaning, therefore, has to be culled out from the understanding in the commercial sense as the people in business understands. this clause (va) is inserted by the finance act, 1999 w.e.f. 1st april, 1993 by referring to rbi's guidelines, 1987 as is ..... ) for various assessment years. since they involve common dispute, they are being disposed of by this common order for the sake of convenience. 1a. this act after two eclipses was reintroduced by the finance (no. 2) act, 1991 as an anti-inflationary measure.originally it provided for levy of tax on chargeable interest accruing or arising to scheduled banks. the tax is levied .....

ito Vs. Patel Wood Syndicate

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... to mean goods not manufactured by the assessee. thus, even where goods are processed by the taxpayer, they are treated as trading goods. to remove this anomaly, the finance act, 1992, has amended the definition of 'trading goods' to mean 'goods not manufactured or processed by the assessee'. thus, in effect, where goods processed by the taxpayer are ..... .7. having heard both the sides, we have carefully gone through the orders of the authorities below. prior to insertion of the words "or processed" by the finance act, 1992 in clause (a) of sub-section (3) of section 80hhc, it d was essential that for application of said clause, export out of india, was of ..... ,625. in clause (a) of sub-section (3) of section 80hhc, after manufacture, the legislature inserted the words "or processed" was inserted by the finance act, 1992 with effect from 1 -4-1992. in view of this insertion, the case of the assessee is squarely covered by clause (a) of subsection (3) of section 80hhc. therefore, the assessing .....

In Re: Kranti Kumar Saxena

Court : Madhya Pradesh

Reported in : [2003]262ITR33(MP)

..... issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force :(* * *) omitted by the finance act, 1992, with effect from june 1, 1962.explanation.--for the purposes of this section, where any income by way of interest as aforesaid is credited to any account, whether ..... the purpose of adjusting any excess or deficiency arising out of any previous deduction or failure to deduct during the financial year.(* * *) omitted by the finance act, 1992, with effect from june 1, 1992.''204. meaning of 'person responsible for paying'.--for the purposes of sections 192 to 194, section 194a, section 194b, section 194bb, section 194c, section ..... to be credit of such income to the account of the payee and the provisions of this section shall apply accordingly.(* * *) omitted by the finance act, 1992, with effect from june 1, 1992.(3) the provisions of sub-section (1) shall not apply--(i) where the amount of such income or, as the case may be, the .....

Madras Bar Association and ors. Vs. Central Board of Direct Taxes and ...

Court : Chennai

Reported in : (1996)130CTR(Mad)360

..... june, 1992. it is also seen from the budget presented in parliament last week [budget for 1995-96 - ed.] that once again provision is being ..... was dropped when the act was passed. equally, the finance (no. 2) act, 1991, inserted s. 194h w.e.f. 1st oct., 1991, to provide for deduction of tax at source from commission or brokerage, etc., but the said provision, by virtue of the words 'but before the 1st june, 1992' inserted subsequently w.e.f. 1st june, 1992, by the finance act, 1992, became ineffective from 1st .....

National Engg. Inds. Ltd. Vs. Cit

Court : Kolkata

Reported in : [2001]80ITD9(Cal)

..... proposition that there must be business of receiving deposits under a scheme or arrangement referred to in clause (va).13. as clause (va) to section 2(5b) was inserted by finance act, 1992 with effect from 1-4-1993 and a reference to the rbi's guidelines has been made by the ..... would not be a financial company.8. what is a deposit is not defined in the act. its meaning, therefore, has to be culled out from the understanding in the commercial sense as the people in business understands. this clause (va) is inserted by the finance act, 1999 with effect from 1-4-1993 by referring to rbi's guidelines, 1987 as is ..... evident from the following extract from memorandum explaining the budget:'when the interest tax act was received last year, the intention was to cover non-banking financial companies, it has .....

Assistant Commissioner of Vs. Club of Mahabaleshwar

Court : Income Tax Appellate Tribunal ITAT Pune

Reported in : (1993)44ITD520(Pune.)

..... companies are now included as entity for the purpose of wealth tax, vide notes on clauses contained in 194 itr (st.) 162. section 99 of the finance act 1992 amended section 45 of the wealth tax act, 1957 with effect from 1-4-1993 whereby clauses (a) to (e) were omitted and for clause (h) the words "any social club" has ..... substituted for any company incorporated outside india which has no place of business in india. by the latest amendment made by the finance act 1992 with effect from 1-4-1993 in section 45 of the wealth tax act specifying categories which are not liable to the wealth tax the intention of the legislature is clear so as to exempt social ..... depending on the interpretations of various court's section 3 of the wealth tax act could have been simply amended or enlarged to include aop as a taxable entity. on the contrary, the finance act, 1992 made a specific amendment to section 45 of the wealth tax act to specify social club as one of the exempted categories for wealth tax.25. .....

Asstt. Cit Vs. Rajendra Mulak

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2002)77TTJ(Nag.)524

..... under sub-clause (a) or sub-clause (b), as the case may be." the aforesaid amendment in section 143(1a) had been proposed by clause 23 of the finance act, 1992 wherein it was clearly mentioned that sub-section (ii) of the new clause (a) of section 143(1a) seeks to omit the then existing explanation to the said section ..... declared in the return has been reduced as a result of the adjustment made under section 143(1)(a) also, the said section 143(1a) was amended by the finance act, 1992 with retrospective effect from 1-4-1989, by substituting clause (a) in the said section to provide specifically that the additional tax shall be levied even in the ..... levy of additional tax. in this regard, he has referred to explanation to section 143(1a) inserted by the direct tax laws (amendment) act, 1989, with effect from 1-4-1989, and subsequently omitted by the finance act, 1992, with effect from 1-4-1989, which reads as under : "explanation : for the purposes of this sub-section, "tax payable on .....

Assistant Commissioner of Income Vs. Rajendra Mulak

Court : Income Tax Appellate Tribunal ITAT Nagpur

Reported in : (2002)83ITD670(Nag.)

..... sub-clause (a) or sub-clause (b), as the case may be." 12. the aforesaid amendment in section 143(1a) had been proposed by clause 23 of the finance act, 1992 wherein it was clearly mentioned that sub-section (ii) of the new clause (a) of section 143(1a) seeks to omit the then existing explanation to the said section. ..... declared in the return has been reduced as a result of the adjustment made under section 143(1)(a) also, the said section 143(1a) was amended by the finance act, 1992 with retrospective effect from 1st april, 1989, by substituting clause (a) in the said section to provide specifically that the additional tax shall be levied even in the ..... the levy of additional tax. in this regard, he has referred to explanation to section 143(1a) inserted by the direct tax laws (amendment) act, 1989, w.e.f. 1st april, 1989, and subsequently omitted by the finance act, 1992, w.e.f. 1st april, 1989, which reads as under : "explanation : for the purposes of this sub-section, "tax payable on .....