Court : Chennai
Decided on : Dec-21-1999
Reported in : [2002]255ITR540(Mad)
..... 1, 1995. under the said chapter, a special procedure for assessment of undisclosed income has been contemplated as a result of ..... has been taken into consideration for the purpose of assessment under chapter xiv-b of the income-tax act and even if it is, whether this court can go into that question at this stage.9. chapter xiv-b, consisting of sections 158b to 158bh was inserted by the finance act, 1995, and it came into force with effect from july ..... search. section 132 of the income-tax act gives power for certain seizure. the said procedure is .....
Tag this Judgment!Court : Chennai
Decided on : Dec-21-1999
Reported in : [2000]109TAXMAN16(Mad)
..... 1995. under the said chapter, a special procedure for assessment of undisclosed income has been contemplated as a result of search ..... income has been taken into consideration for the purpose of assessment under chapter xiv-b of the income tax act and even if it is, whether this court can go into that question at this stage.9. chapter-b consisting of sections 158b to 158bh was inserted by the finance act, 1995 and it came into force with effect from 1-7- ..... . section 136 of the act gives power for certain seizure. the said procedure is for assessment .....
Tag this Judgment!Court : Chennai
Decided on : Jan-27-1999
Reported in : AIR1999Mad254
..... to the institution and thereafter pass orders on obtaining explanation regarding the same.19. in 'penumbra of natural justice' by tapash gan choudhury, (1997 edition), under the chapter 'fair hearing', in paragraph 10 (at page 100), the learned author says that the opportunity of being heard must be real and effective. relevant portion of that ..... not agree with the contrary view taken by the delhi high court in the judgment under appeal.'15. in wade & forsyth -- 'administrative law' -- 7th edition (1994), at page 531, the learned authors have said thus :--'a proper hearing must always include a 'fair opportunity to those who are parties in the controversy for correcting ..... wilfully disobeys or wilfully fails to comply with any order or direction issued by the registrar under this act or the rules ((ii) (a) and (b) are omitted) after giving the board of the registered society or the financing bank, as the case may be, opportunity of making its representations, by order in writing, supersede .....
Tag this Judgment!Court : Chennai
Decided on : Apr-23-1999
Reported in : (2000)158CTR(Mad)437; [1999]240ITR335(Mad)
..... , held that the hospitality expenditure would not be regarded as entertainment expenditure prior to the insertion of explanation 2 to section 37(2a) of the income-tax act, 1961, by the finance act, 1983, with effect from april 1, 1976. since the assessment year involved is 1974-75, the prior law would apply and following the said decision of ..... by way of subscription to the club is an allowable expenditure. 8. the gujarat high court in the case of gujarat state export corporation ltd. v. cit : [1994]209itr649(guj) , held that the entrance fee paid to a sports club is an allowable revenue expenditure as the object of the expenditure was entertaining the indian and foreign ..... w. s. (india) ltd. v. cit : [1994]208itr649(sc) , and the apex court held that the maintenance expenditure incurred by a company for the car provided to the director of the company should be regarded as perquisite subject to the ceiling provided in section 40a(5) of the act. we are of the opinion, that decision of the .....
Tag this Judgment!Court : Chennai
Decided on : Jul-06-1999
Reported in : [2000]244ITR608(Mad)
..... question whether the retrospective effect given to the definition of the term 'plant' by the finance act, 1995, is correct or not, it is necessary to bear in mind that the cases of both the petitioners relate to the assessment year 1994-95 and by virtue of the retrospective effect to the amendment, the petitioner is not ..... of the petitioner for depreciation has become inadmissible due to the modification of definition of the term 'plant' in section 43(3) of the act as amended by the finance act, 1995, with retrospective effect and the result was that the petitioner became liable to tax on incomecomputed without allowing the claim for depreciation made ..... the purposes of the business or profession.'7. an amendment was introduced by section 12 of the finance act, 1995, and the expression 'plant', in section 43(3) of the act was amended and after amendment, section 43(3) of the act reads as under :' 'plant' includes ships, vehicles, books, scientific apparatus and surgical equipment used .....
Tag this Judgment!Court : Chennai
Decided on : Apr-19-1999
Reported in : [1999]239ITR782(Mad)
..... is valid and legal. in considering the question, it is necessary to notice relevant provisions of the act. chapter xiv-b of the act is a special provision for assessment of search cases. the above chapter was introduced by the finance act, 1995, with effect from july 1, 1995, with an avowed object to make the procedure of ..... knowledge of the petitioner, the seized amount was adjusted towards the tax liability for the assessment year 1994-95. he submitted that the said adjustment is illegal in view of the provisions contained in chapter xiv-b of the act.12. mr. s.v. subramaniam, learned senior counsel for the department, submitted that the ..... the appeal preferred by the petitioner before the commissioner (appeals) was dismissed and the petitioner was directed to clear the arrears of tax for the assessment year 1994-95 immediately. the commissioner also directed the petitioner to obtain the necessary challan from the assessing officer for the payment of the tax. thereafter, the petitioner .....
Tag this Judgment!Court : Chennai
Decided on : Oct-01-1999
Reported in : AIR2000Mad92
..... the journal of institute of chartered accountants, june, 1999. pages 74-106 issued by the first respondent as ultra vires the provisions of chapter vii of the chartered accountants act, 1949. chapter x of the chartered accountants regulations, 1988. articles 14, 19(1)(g) and 21 of the constitution of india insofar as the ..... to their indebtedness and credit cards, as they are unrelated to professional competency and potentiality. in this regard, he places reliance on the decision reported in : [1994]207itr1077(bom) ; (d.b.s. financial services v. smt. m. george). he also contends that the refusal to consider the applications which do not contain ..... perversity. hence, it is contended that the decisions relied upon by the respondents, viz., s. narayan v. union of india. : air1976sc1986 ; shyam babu vermav. union of india, : (1994)illj815sc ; tata iron and steel co. ltd. v. union of india, : air1996sc2462 ; farida shaukath v. unit trust of india, : 1999(2)ctc736 . chanravadanam e. v. state .....
Tag this Judgment!Court : Chennai
Decided on : Apr-21-1999
Reported in : 2001ACJ196; AIR2000Mad245
..... 22. in : [1964]7scr867 , new asiatic ins. co. v. pessumal, it is a ease where the supreme court has held as follows (at p. 1739 of air) :'chapter viii of the act, it appears from the heading, makes provision for insurance of the vehicle against third-party risks, that is to say, its provision ensure that third-parties who suffer on ..... thevar rice mill ooranipuram, orathanad taluk (thanjavur district) v. mariyayee, : air1997sc3444 ; rajasthan state rd. trpt. corporation v. kailash nath kothari and new india assurance co. ltd. v. anil mathew, 1994 acj 622 .7. on the other hand, the learned counsel for the respondents mr. p. rathindurai, vehemently contended that the insurance company is liable. the vehicle in question is meant ..... s.m. abdul wahab, j.1. this c.m.a. has beenpreferred against the award dated 9-12-1996 in o.p. no. 1215 of 1994 on the file of the motor accidents claims tribunals, chief judge, small causec court, chennai. the matter relates to claim for rs. 10,22,000/- for the loss of .....
Tag this Judgment!Court : Chennai
Decided on : Oct-13-1999
Reported in : (2000)159CTR(Mad)220
..... of the customers, processing was involved and therefore, the data processing company is an industrial company entitled to the concessional rate of taxation under section 2(7)(c) of finance no. 2 act, 1977. the court further observed that the activities involved in a data processing company would clearly fall within the concept of goods, though not manufacture of goods.9. ..... p) ltd. (1990) 90 ctr (cal) 73 : (1990) 136 itr 609 , the calcutta high court also held that a data processing company is an industrial company for the purpose. of finance act, 1981.10. we, therefore, answer the question referred to us in favour of the assessee and against the revenue. ..... terms that there is production. it was pointed out by the supreme court in the case of cit v. m. c. budharaja & co & anr. (1993) 114 ctr (sc) 420 : (1994) 204 itr 412 (sc)5 that the, word 'production' has a wider connotation than the word 'manufacture'.while every manufacture can be regarded as production, every production riot amount to .....
Tag this Judgment!Court : Chennai
Decided on : Jul-06-1999
Reported in : [2000]106TAXMAN222(Mad)
..... was introduced by section 12 of the finance act and the expression 'plant' in section 43(3) was amended and after the amendment, section 43(3) reads as under:'(3) 'plant' includes ships, vehicles, ..... the parties. section 43(3) defines the expression, 'plant' in an inclusive manner and the term, 'plant' as defined prior to the amendment made by the finance act, 1995 reads as under:'(3) 'plant' includes ships, vehicles, books, scientific apparatus and surgical equipment used for the purpose of the business or 'profession'an amendment ..... whether the retrospective effect given to the definition of the term 'plant' by the finance act, 1995 is correct or not, it is necessary to bear in mind that the cases of both the petitioners relate to the assessment year 1994-95 and by virtue of the retrospective effect to the amendment, the petitioner is not .....
Tag this Judgment!