Court : Supreme Court of India
Reported in : AIR1993SC1197; (1993)ILLJ244SC; 1992(2)SCALE836; (1993)1SCC13; [1992]Supp1SCR956; (1993)1UPLBEC25
..... learned additional solicitor general, it appears the bank turned down the request of the respondent for a copy of cvc recommendation as, 'the correspondence with the central vigilance commission is a privileged communication and cannot be forwarded as the order passed by the appointing authority deals with the recommendation to the cvc which is ..... respondent, and coincidentally, agreeing on each charge on which cvc had found against him but disagreeing on quantum of punishment. it was observed:while the wrongful acts indulged in by the official are no doubt grave, the facts brought out during the enquiry do, not show that bank sustained any monetary loss thereby. ..... been proved. consequently the inquiry officer recommended for exonerating the respondent as the charge found to be proved were minor and of procedural natural. instead of acting on this recommendation the bank appears to have directed the inquiry officer to submit the report through the cvc. under what provision this was done is .....
Tag this Judgment!Court : Kerala
Reported in : 1993(44)ECC145
..... of the powers conferred by sub-section (1) of section 25 of the customs act, 1962 (52 of 1962), and in supersession of the notification of the government of india in the ministry of finance, department of revenue, no. 148-customs, dated the 15th july, 1977, the central government, being satisfied that it is necessary in the public interest so to do, hereby ..... of the powers conferred by sub-section (1) of section 25 of the customs act, 1962 (52 of 1962), and in supersession of the notification of the government of india in the ministry of finance (department of revenue) no. 24-customs, dated the 1st march, 1981, the central government, being satisfied that it is necessary in the public interest so to do, hereby .....
Tag this Judgment!Court : Mumbai
Reported in : [1993]201ITR348(Bom)
..... draw of lucky ticket. 3. the state governments and the union territories running lotteries are, therefore, requested to deduct tax at source at the rates prescribed by the annual finance act in respect of 'lotteries or crossword puzzles' from 'lucky dip' prizes by lottery agents. 4. this clarification may please be brought to the notice of all concerned ..... in an amount exceeding rs. 5,000 shall, at the time of payment thereof, deduct income-tax thereon at the rates in force. section 115bb inserted by the finance act of 1986, with effect from april 1, 1987, says that where the total income of an assessee includes any income by way of winnings from any lottery, the ..... mr. kakodkar says that it is not a circular by the central board of direct taxes which is to construe, execute and enforce tax law but a circular issued by the ministry of finance which does not administer the income-tax act, nor is it an authority under the act. 58. mr. kakodkar is right in pointing out that instructions issued .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Hyderabad
Reported in : (1993)1ITD45(Hyd.)
..... this measure will yield a revenue gain of approximately rs. 75 crores." 12. consequently, section 80wa was omitted by section 40 of the finance act, 1987, and section 115j was introduced by section 43 of the finance act, 1987 (see [1987] 166 itr (st.) 26). in the bill as introduced, the provisions of item (iv) of the explanation ..... year or years arrived at after providing for depreciation in accordance with those provisions and remaining undistributed or out of both or out of moneys provided by the central government or a state government for the payment of dividend in pursuance of a guarantee given by that government : (a) if the company has not provided ..... explanation (iv), the word "loss" must refer only to the net result after setting off depreciation.27. the revenue, while contending that the circular of the central board of direct taxes did not amount to a contemporaneous exposition, relied on the same circular to contend that loss is to be understood as loss before depreciation. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
Reported in : (1993)45ITD243(Pune.)
..... option to get a regular assessment completed instead of ad hoc assessment contemplated by section 172(4) has become meaningless in view of section 44b inserted by the finance act, 1975 which provides that notwithstanding anything to the contrary contained in sections 28 to 43a, profits of a non-resident from business of operation of ships, shall ..... at all. the preamble of such agreement provides that in exercise of the powers conferred by section 90 of the income-tax act, 196land section 24a of the companies (profits) surtax act, 1964, the central government hereby directs that all the provisions of the said agreement shall be given effect to in the union of india, vide notification ..... in this connection, it is relevant to refer to the circular no. 333 dated 2-4-1982 issued by the central board of direct taxes on the subject of conflict between the provisions of income-tax act, 1961 vis-a-vis the provisions of double taxation avoidance agreement. for the sake of facility, the said circular .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]207ITR130(Cal)
..... or after the 1st day of april, 1958. (vijay mathur),director (tpl-ii).ministry of financedepartment of revenue.' 9. the aforesaid two notifications were followed by the finance act, 1989, section 26 of which provided-'26. notwithstanding anything contained in the notification of the government of india in the ministry of home affairs, no. s. o. ..... convenience. the enabling powers of the president do not take away anything from the legislative competence of parliament to restrict or enlarge the area of operation of a central act.23. in that view of the matter, this writ petition succeeds and there would be an order as prayed for in terms of prayers (a), (b ..... each such enactment for the commencement thereof, the provisions of each such enactment shall come into force in the state of sikkim on such date as the central government may, by notification in the official gazette, appoint : provided that different dates may be appointed for different provisions of the enactment and for different areas .....
Tag this Judgment!Court : Mumbai
Reported in : (1993)122CTR(Bom)201; [1993]205ITR569(Bom)
..... dividend'. further, in the reported case, the court has considered the first part of the explanation inserted in rule 1 of the first schedule to the surtax act, by the finance act, 1981, which was made applicable from april 1, 1981, that is from the assessment year 1981-82 while, in the present reference, we are concerned with ..... on the decision of this court in the case of cit v. tata chemicals ltd. [1988] 169 itr 314, he submitted that the circulars issued by the central board of direct taxes are binding on the income-tax authorities and, therefore, the surtax officer ought to have accepted the assessees contention in this regard. learned counsel ..... present reference, certain observations made by the court in connection with the explanation inserted in rule 1 of the first schedule to the surtax act, with effect from april 1, 1981, by the finance act, 1981, should not influence our mind in deciding the question referred to us.shri dwarkadas, learned counsel for messrs standard mills co. ltd .....
Tag this Judgment!Court : Mumbai
Reported in : [1994]205ITR569(Bom)
..... dividend'. further, in the reported case, the court has considered the first part of the explanation inserted in rule 1 of the first schedule to the surtax act, by the finance act, 1981, which was made applicable from april 1, 1981, that is from the assessment year 1981-82 while, in the present reference, we are concerned with ..... on the decision of this court in the case of cit v. tata chemicals ltd. [1988] 169 itr 314 he submitted that the circulars issued by the central board of direct taxes are binding on the income-tax authorities and, therefore, the surtax officer ought to have accepted the assessees' contention in this regard. learned ..... the present reference, certain observations made by the court in connection with the explanation inserted in rule 1 of the first schedule to the surtax act, with effect from april 1, 1981, by the finance act, 1981, should not influence our mind in deciding the question referred to us. 10. shri dwarkadas, learned counsel for messrs standard mills .....
Tag this Judgment!Court : Orissa
Reported in : 76(1993)CLT218; 1993CriLJ3604; 1993(I)OLR545
..... the mla , as would appear from chapter iii of part vi of the constitution the same being, making of laws, acting conjointly to effectively control the activities of the executive, approval of the finance bill, etc. indeed, no doubt can be entertained in this regard in view of what was stated in paragraph 59 ..... association v. state of bombay : (1961)iillj663sc . in the first case, the court was examining the question whether section 77 of the hyderabad district municipalities act, which has conferred express power in negative language on the municipal committee to transfer immovable property, impliedly prohibited transfer of the property. it was held in paragraph ..... of mlas is supervised, directed and controlled by the provisions contained in arts. 324 to 329 of the constitution and the provisions of the representation of people act, 1951, which brings home the distinction between 'office' and 'holder of the office'.9. the aforesaid submission appears to be unassailable, we would, therefore, .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]208ITR807(Cal)
..... race horses are of no aid since such decisions are concerned with the question in the context of the law that prevailed before the insertion of section 74a by the finance act, 1972, having effect from april 1, 1972. for example, in janab a. syed jalal sahib v. cit : [1960]39itr660(mad) , the assessee, besides carrying on the business ..... that no portion of the loss shall be carried forward for more than four assessment years immediately succeeding the assessment year for which the loss was first computed.' 12. the central board of direct taxes in circular no. 158, dated june 17, 1974, explained the scope of the said section in the following terms:--'34. carry forward and set ..... of income except his winnings from races nor is it allowed to be carried forward to be set off against income from any source in any subsequent year. the finance act, 1974, has amended section 74a so as to provide that the losses incurred by owners of race horses in the activity of owning and maintaining such horses, to .....
Tag this Judgment!