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Kaloomal Shorimal Sachdev Vs. First Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (1985)14ITD248(Mum.)

..... as an advance from any purchasing agent, selling agent or other agent in the course of, or for the purpose of, the business of the company or as advance against orders for the supply of goods or for the rendering of any service ; (vii) by way of subscription to any share, stock, bond or debenture (such bond or debenture being secured by a charge or a lien on the assets of the company) pending the allotment of the said share, stock, bond or debenture, or ..... a co-operative society engaged in carrying on the business of banking (including a cooperative land mortgage bank or a co-operative land development bank) ; (iv) as a loan from any institution or body specified in the list in the tenth schedule or such other institution or body as the central government may, having regard to the nature and objects of the institution or body, by notification in the official gazette, specify in this behalf ..... a co-operative society engaged in carrying on the business of banking (including a cooperative land mortgage bank or a co-operative land development bank); (iv) as a loan from any institution or body specified in the list in the tenth schedule or such other institution or body as the central government may, having regard to the nature and objects of the institution or body, by notification in the official gazette, specify in this behalf ..... the provisions as clarified by the finance minister piloting the bill and the memorandum of the explanation to the finance act, 1975, clearly supports the .....

Deepak Extrusions and Vs. J.T. Chopra, Asstt. Collector of Central Exc ...

Court : Karnataka

Reported in : 1988(17)LC83(Karnataka)

..... the petitioners have challenged the constitutional validity of the amendment to section 2(f) and tariff item 27 of the first schedule to the central excise act, effected by finance act (2) of 1980. ..... 2) act of 1980 in so far as it relates to the tariff item 8312.11 and note ii to chapter 83 of the central excise tariff act, 1985, as ultravires entry 84 of list 1 of schedule vii of the constitution.38. ..... a comparative study of these amendments in relation to the definition of 'manufacture' and tariff items in relation to the cotton fabrics vis-a-vis the amendments brought about in the act so far as aluminum products are concerned would help in appreciating the rival contentions of the parties and having regard to the argument of the department that the reasons given for and the ratio of the decision ..... item 27(11) in the first schedule and the amended definitions of section 2(f)(vii) correspond to the provisions of the tariff act struck down by the bombay high court in the said decision.41. ..... . 2 in chapter 83 of the central excise tariff act, 1985 and tariff item 8312.11 in the schedule, as applicable to the process of lacquering and printing of aluminum containers are concerned, which are impugned in this writ-petition, are upheld as valid and within the competence of the parliament, both under entry 84 and 97 of list i of schedule vii.64 ..... 2) act of 1980.in the definition section, 'manufacture' after sub-clause (vii), the following sub-clause was inserted, viz. .....

Peerless General Finance and Investment Co. Ltd. and anr. Vs. Reserve ...

Court : Kolkata

Reported in : [1996]85CompCas808(Cal)

..... state of bombay : [1954]1scr1055 held that section 58 of the bombay public trust act imposing contribution upon each public trust, at certain rates to be fixed by the rules, in proportion to the gross annual income of such trust is not ultra vires the state legislature because the contribution imposed under the section is not a tax but a fee which comes within the purview of entry 47 of list iii in schedule vii to the constitution.299. ..... ordelivering' of any goods to a hirer under ahire-purchaseagreement as defined in clause (c) of section 2 of thehire purchaseact, 1972 (26 of 1972).2(f)hire-purchase financecompany means any company which is a financial institutioncarrying on as its principal business, hire-purchase transactions orthe financing of such transactions.45-i(c)(iv)the carrying on of any class of insurance business.2(h)'insurance company' means any company registered for any class ofinsurance business under section 3 of the insurance ..... or otherwise of any activity other than its own.2(j)'loan company'means any company which is a financial institution carrying on as its principalbusiness, the providing of finance, whether by banking oans or advances or otherwise for any activity other than its own but does not include an equipmentleasing company or a hire-purchase finance company or a housingfinance company.45-i(c)(ii)the acquisition of shares, stocks, bonds, debentures or securities issued by the governmentor local authority or other marketable securities of a like .....

J.K. Industries Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Reported in : [2008]143CompCas325(SC); (2008)5CompLJ369(SC); (2007)213CTR(SC)301; [2008]297ITR176(SC); 2007(13)SCALE204; [2007]80SCL283(SC); 2007AIRSCW7443

..... directs. these rules are also required to be placed before the parliament therefore, schedule vi can be amended or altered by a notification issued under section 641(1) of the companies act if schedule vi is not altered or amended in exercise of power under section 641(1) of the said act, then, schedule vi being part of the act, the rule adopting the as under section 642(1) of the act cannot modify or amend the provisions of schedule vi to the companies act in this connection, learned counsel urged that as 22 has now been prescribed ..... be nominated by it;(e) one representative of the comptroller and auditor-general of india to be nominated by him;(f) a person who holds or has held the office of professor in accountancy, finance or business management in any university or deemed university;(g) the chairman of the central board of direct taxes constituted under the central boards of revenue act, 1963 or his nominee;(h) two members to represent the chambers of commerce and industry to be nominated by the central government, and(i) one representative of the securities ..... income. this concept has been brought in after the amendment to section 211(1) of the companies act which emphasizes that after 2001 the companies shall prepare their accounts so as to reflect 'true and fair' view of the state of affairs and to obliterate the difference between accounting ..... , the levy of tax can either be by the central government or state government under list i or list ii of schedule vii to the .....

Ms.Advait Steel Rolling Mills Vs. Union of India and ors.

Court : Chennai

..... further, the clearances of goods into a special economic zone, from a domestic tariff area, otherwise than by way of sale, would be covered by the legislative field enumerated in entry 52 of list ii of schedule vii of the constitution of india, and such clearances would be beyond the legislative competence of the parliament.25. ..... as such, subject to the provisons of sub-section 2 of section 26, every developer and an entrepreneur shall be entitled to the exemptions, draw backs and concessions, as contemplated in section 26(1) of the act and the procedures established for the procurements made from the domestic tariff areas, has been prescribed in rule 30 of the special economic zones rules, 2006. ..... to the special economic zones, from the domestic tariff areas, are to be treated as exports , and as to whether such supplies would attract export duty, and whether the impugned letter of the secretary, department of revenue, ministry of finance, government of india, dated 30.6.2008, is illegal and without the authority of law, and offending articles 19(1)(g) and 265 of the constitution of india.9. ..... however, vide notification no.66/2008-customs, dated 10.5.2008, the effective rate of duty, leviable on goods exported out of india, had been reduced, in respect of several items, which had been taxed under the finance act, 2008. ..... it has been further stated that export duty was being levied, in respect of several iron and steel items, in accordance with the provisions of the finance act, 2008. .....

G.V.Matheswaran Vs. the Union of India

Court : Chennai

..... to declare that (i) the impugned provisions, i.e.section 65(105)(zzzz) read with section 65(90-a) of the finance act, 1994, as amended by the finance act, 2010, as null and void and ultra vires and violative of entry 49, list-ii, seventh schedule, articles 14, 19 and 246(3) of the constitution of india, (ii) section 76(a)(6)(h) and section 77 of the finance act, 2010 as null and void and ultra vires the constitution of india insofar as the petitioners are concerned ..... finance, department of revenue, central board of excise and customs.new delhi-1 and 4 others.two writ petitions were filed seeking to declare section 65(105)(zzzze) of chapter v of the finance act, 1994 (as amended by the finance act 2 of 2009) as null and void in and by which, an information technology software is also brought under the meaning of taxable service and the said amendment was brought in by virtue of residuary power under entry 97 of list i of schedule vii ..... is competent to impose such a tax is the residuary entry, i.e.entry 97 and though the constitution (88th amendment) act, 2003 came into being on 15.01.2004 by amending the vii schedule and by including entry 92-c ".taxes on services". ..... 7-judge bench decision in india cement ltd.versus state of tamil nadu reported in (1990) 1 scc12 question no.6 is whether taxes on land and buildings in list ii, entry 49 of the vii schedule of the constitution of india contemplate a tax levied directly on the land as a unit having definite relationship with the land. .....

M/S Ballal Auto Agency Vs. Union of India

Court : Karnataka

..... india, through joint secretary, ministry of law and justice bhavan and others reported in ilr2013karnataka 569, while considering clauses (zzq) & (zzzh) and clause (zzzzu) of sub-section 105 of section 65 of the finance act, 1994, has held that parliament had the legislative competence to impose service tax on those transactions which are relatable to service rendered during the course of sale of land and buildings which is distinct 45 from the ..... reference to judicial precedents were set out in order to appreciate the contention of the parties particularly, in the context of article 286, 301, 304 and entry 54 of list ii of the constitution and entry 92a of list i of vii schedule and article 269 and the 61st report of law commission with regard to levy of sales tax on certain transactions 18 though strictly not sale leading to 46th amendment, incorporating a new definition of sale. ..... indian and others reported in (2002) vol.126 stc475(kerala), it has been held that: while the state legislature is competent to impose tax on sale by a legislation relatable to entry 54 of list ii of seventh schedule, the tax on the aspect of services rendered not being relatable to any entry in the state list, would be within the legislative competence of parliament under article 248 read with entry 97 of list i of the seventh schedule to the constitution . ..... and another [2001 (1) scc521 and the decision of the learned single judge of the kerala high court in the case of kerala classified hotels and .....

Godrej Industries Ltd. Vs. D.G. Ahire Assistant Collector of Central E ...

Court : Supreme Court of India

Reported in : 2008(131)ECC39; 2008(157)LC39(SC); 2008(228)ELT321(SC); JT2008(7)SC628; 2008(10)SCALE152; 2008(8)SCC600

..... it was then submitted that on 1st march, 1975, finance act, 1975, introduced a residuary entry, namely, tariff item 68, in the first schedule to the central excise and salt act, 1944 which reads as follows:68 - all other goods, ..... by the finance act of 1961 in the first schedule to the central excise and salt act, 1944. ..... . apart from the above, when cosmetics and toilet preparations were made taxable by virtue of the finance act, 1961, whereby tariff item 14f was introduced to cover such preparations, hair lotion as a separate category was included in ..... desai, after introduction of tariff item 68 by the finance act of 1975, the appellant's aforesaid product became exigible under the said entry for which excise duty was ..... he also pointed out that by the finance act, 1961, tariff item 14f was introduced to cover cosmetics and toilet preparations as indicated hereinbelow:14f - cosmetic and toilet preparations not containing alcohol or opium india hemp or other narcotic drugs or ..... of the appellant company also appears to have been sent for analysis to the deputy chief chemist and his decision was conveyed by the superintendent of central excise range iv, division vii, to the appellant company to the effect that the said product did not fall under tariff item 14f ..... aforesaid product appears to have been sent for analysis to the deputy chief chemist and by his letter dated 3rd march 1975, the superintendent of central excise range iv, division vii, informed the appellant company as follows:no. .....

Mysore Construction Co. (Prop. Mycon Construction Ltd. Represented by ...

Court : Karnataka

Reported in : ILR2009KAR2657; (2009)24VST250(Karn); 2009(3)KCCRSN123; 2009(6)AIRKarR141

..... first submission is that the additional burden in terms of section 15[5][e] of the act whether prospective or retrospective is unconstitutional being beyond the taxing power of the state legislature referable to entry-54 of list-ii of schedule-vii of the constitution of india as tax can only be paid on the sales or purchases of the same goods but not at both points in respect of the very goods in the hands of the same dealer. ..... that except for saying that the provisions were as part of rationalization measures sought to be introduced in the karnataka value added tax act, 2003 and indicating that it was 'clarification regarding tax liability of dealers under composition on their purchases from unregistered persons', nothing else is forthcoming in the budget speech of the finance minister while introducing the state budget for the year 2006-07 and the proposal for amending the provisions of the ..... effect of levying tax both on purchase and sale of the same goods taking it beyond the limits of entry 54 of the list-ii of seventh schedule to the constitution of india; that the state legislature cannot levy tax twice on a dealer both on the purchase and on the sale and as the manner in which the provisions of section 15(5)(e) of the act is being implemented, demonstrates that the very goods when purchased by a registered dealer if had been purchased from an unregistered dealer ..... ' reported in [2001] 121 stc 478. .....

The Commissioner, Hindu Religious Endowments, Madras Vs. Sri Lakshmind ...

Court : Supreme Court of India

Reported in : AIR1954SC282; 20(1954)CLT250(SC); [1954]1SCR1005

..... it is true, as he has pointed out, that there are a number of entries in list i of the seventh schedule which relate to taxes and duties of various sorts; whereas the last entry, namely entry 96, speaks of 'fees' in respect of any of the matters dealt with in the list ..... the board, it appears, dropped that enquiry, but without waiting for the result of the suit, initiated proceedings suo moto under section 62 of the earlier act and issued a notice upon the swami on the 6th of november, 1950, stating that it had reason to believe that the endowments of the said math were being mismanaged and that a scheme should be framed ..... salaries, allowances, pensions and other beneficial remuneration of the commissioner, deputy commissioners, assistant commissioners and other officers and servants (other than executive officers of religious institutions) employed for the purposes of this act and the other expenses incurred for such purposes, including the expenses of area committees and the cost of auditing the accounts of religious institutions.' 42. ..... religious denomination has a fundamental right under article 26 to manage its own affairs in matters of religious through the mathadhipati who is their spiritual head and superior, and those provisions of the act, which substantially take away the rights of the mathadhipati in this respect, amount to violation of the fundamental right guaranteed under article 26. ..... vii deals with budgets, accounts and audit and chapter viii relates to finance. .....