Court : Delhi
Reported in : 1984(2)ECC30; 1983(12)ELT24(Del)
..... to whether the relief in excise duty is intended to cover in its scope, both the basic duty of excise livable under the central excises and salt act, 1944 and the special/additional/auxiliary duty of excise livable under the special acts or finance acts. 2. to appreciate the rival contentions of the parties, it is apposite to refer to relevant statutory provisions first. the ..... additional surcharge livable under clause (c) of paragraph a of part i of the first schedule to the finance act, 1963 read with section 2(1)(a)(ii) of that act was held by the supreme court in 'madurai district central cooperative bank ltd. v. i. t. o.', : [1975]101itr24(sc) as relatable to article 271 of the constitution of india by which the .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1983)LC709DTri(Delhi)
..... government of india, which under section 35p(2) of the central excise's and salt act, 1944 is to be proceeded with as if it were an appeal filed before this tribunal.2. at the relevant time, there was chapter viii-b (rule 173-r to rule 173rm) in central excise rules, 1944 (hereinafter called rules), which contained what ..... classes of manufacturers. for the class of manufacturer to which the applicant belonged it was fixed at rs. 5 lakhs per year. this chapter was omitted vide ministry of finance (deptt. of revenue)'s notification no. 206/79-ce, dated 16.6.79 (gsr 822). 2a. after the appellants fulfilled the requirements of rule 173-ra they ..... and therefore, the provision of chapter vii a would be attracted in their case.10. it might be mentioned that from the order of the appellate collector of central excise, delhi, it appears that the appellants' learned counsel shri harbans singh had argued before the appellate collector that in the appellants' case simplified procedure would cease .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1983SC937; [1983]54CompCas674(SC); (1983)2CompLJ281(SC); 1983(2)SCALE16; (1983)4SCC166; [1983]3SCR438
..... reserve bank of india, specify in this behalf.10. in exercise of power conferred by sec 58a read with section 642 of the act, central government enacted and promulgated the companies (acceptance of deposits) rules, 1975. rule 2b defines 'deposit' to mean any deposit of money ..... the operation of the rules are central and state govt., state bank of india nationalised banks, industrial finance corporation of india, state financial corporations established under the state financial corporations act, industrial development bank of india, electricity boards constituted under the electricity (supply) act, life insurance corporation of india and ..... finances for their personal advancement. this report, led to the enactment of companies (amendment) act, 1965 which vastly increased the governmental control of the private sector companies. the companies (amendment) act, 1974 which inter alia introduced section 58a simultaneously ushered in vast changes in the 1956 act making greater inroads by central .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1984SC1182; (1983)3CompLJ30(SC); [1983]144ITR225(SC); 1983(2)SCALE222; (1983)4SCC392; [1983]3SCR773
..... financial institutions and commercial banks on what could be regarded as a sick unit. for instance, while announcing its scheme of merging sick units with healthyones (finance act, 1977) government of india had classified 'those units where the losses, past and present, have eroded 50% of capital and reserves as sick'. according to ..... prior to amalgamation, namely manufacture and sale of agricultural tractors and allied impliments.6. section 72a of the income tax act, 1961 (herein-after referred to as the act) was inserted therein by finance act no. 2 of 1977 with effect from 1.4.1978. this section enables an amalgamated company to carry forward ..... and set off accumulated loss and unabsorbed depreciation allowance in certain cases of amalgamation on fulfilment of the conditions mentioned in clauses (a), (b) and (c) of sub-section (1) and the central .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Madras
Reported in : (1984)7ITD795(Mad.)
..... further observed that section 14 itself contains saving clause, namely, 'save as otherwise provided by this act' and section 4(1) of the act also provides that income-tax should be calculated in accordance with any central act, namely, the finance act passed every year.accordingly, he confirmed the assessment orders and dismissed the appeals.4. the learned ..... any assessment year at any rate or rates prescribed by any central act which is the annual finance act passed by the parliament. it is also clear that such rates prescribed by the finance acts shall be charged in accordance with and subject to the provisions of this act. therefore, the levy of prescribed tax should be in accordance ..... income-tax. reading section 4 and section 14 together, it will be evident that the charging of income-tax at the rate prescribed by the finance act shall be governed by section 14 both for the purpose of charge of income-tax and computation of total income. obviously the income arising from agricultural .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1984)9ITD824(Delhi)
..... said to be real complex in nature and an assessee cannot be said to be well conversant with the provisions of the law, more so, when each year, with every finance act there are amendments and amendments and perhaps it is for this reason that as early as in the year 1942 [1955] the board vide circular no. 3, dated 16-1 ..... for ready reference, we reproduce hereunder the charging section, i.e., section, 4, which finds place in chapter ii of the act.--'basis of charge' : 4. charge of income-tax - (1) where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged ..... for that year in accordance with, and subject to the provisions of, this act in respect of the total income of the previous year .....
Tag this Judgment!Court : Mumbai
Reported in : 1984(3)ECC292; 1984(18)ELT701(Bom)
..... union of india and ors. reported in 1983 e.l.t. 239 (del) a division bench of the delhi high court, considered another amendment made in the central excises and salt act, 1944 by the same act, namely, the finance act of 1982. the amendment which was required to be considered by the delhi high court also contained in the amendment ..... however, that the provisions of section 4 including the explanation are subject to the other provisions contained in the central excises and salt act, 1944. this contention appears to be sound. under the saving clause to section 47 of the finance act of 1982, (as a result of which section 4(4)(d)(ii) was amended with retrospective effect from ..... the value of the assessable goods.25. in the present case the petitioners have also challenged the retrospective amendment to section 4 which has been made by the finance act of 1982. as a result of such retrospective amendment the explanation to section 4(4)(d)(ii) has been added with retrospective effect from 1-10-1975. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : 1985CriLJ1739
..... code of criminal procedure, 1973, on the executive magistrates in the state for a temporary period and to amend certain provisions of the code of criminal procedure, 1973 (central act 2 of 1974) in its application to the state of punjab.4. before us, mr. g. s. grewal, senior advocate, arguing the case on behalf of ..... in the code of criminal procedure, 1898. that code had been amended from time to time by various acts of the central and state legislatures. the more important of these were the amendments brought about by central legislation in 1923 and 1955. the amendments of 1955 were extensive and were intended to simplify procedures and speed ..... the executive magistrate. section 2(b) of the amendment act defines the 'specified offences' as follows:(b) 'specified offences' means -i) offences falling under chapters viii and x of the indian penal code, i860 (central act no. 45 of 1860);ii) offences under the arms act, 1959 (central act no. 54 of 1959) punishable with imprisonment up to .....
Tag this Judgment!Court : Karnataka
Reported in : [1988]174ITR206(KAR); [1988]174ITR206(Karn)
..... view that the construction placed by the tribunal on the provision with due regard to the scheme and object of the act and its language is sound and correct. 15. section 10 of the finance act of 1985 (central act no. 32 of 1985) ('1985 act'), accepting the very case urged by the assessee, has suitably amended section 36(1)(viii) of the ..... act with effect from april 1, 1985. the object of the said amendment is set out in the memorandum explaining the provisions in the finance bill under 'income-tax', at ..... the total income before allowing deduction under chapter vi-a and not under section 36(1) of the income-tax act. this point has been clarified by the central board of direct taxes in a letter to the ministry of finance, department of banking in their letter f. no. 204/35/73/ita ii dated 12-11-1973.' 6. aggrieved .....
Tag this Judgment!Court : Delhi
Reported in : [1987]62CompCas769(Delhi)
..... follows : (a) i hold that section 45s read with section 58(5a) of chapter iii-c of the reserve bank of india act, as introduced by section 10 of the banking laws (amendment)act, 1983 (central act i of 1984), is not vocative of articles 14 and 19 of the constitution. (b) these is no element of compulsion of the ..... accepted or invited by a company either from the public or from its members. 22. sub-section (8) of section 58a, inserted by the amendment act in 1977, empowers the central government where it considers it necessary for avoiding any hardship or for any other just or sufficient reason by order to grant extension of time to a ..... finance companies were already subject to the regulation and supervision of the directions of the reserve bank issued by it in pursuance of powers under chapter iii-b of the reserve bank of india act, and it would have been superfluous to include these financial institutions within section 58a of the act. 23. now, elaborate rules have been issued by the central .....
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