Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1992)43ITD33(Delhi)
..... totally inapplicable. it pointed out that the madras case was a case of claiming rebate under the provisions of section 2(5){a) of the finance act, 1966. under the scheme framed by the central government to encourage export of goods, the assessee became entitled to import licences and, on the sale of that import licences, the assessee made a ..... export have to be ascertained only in accordance with the provisions of the income-tax act, 1961, and not independent of it, in view of the provisions contained in section 2(5)(d) of the finance act, 1966, and rule 3(2) made by the central board of direct taxes pursuant to section 2(5)(d), these two receipts have to ..... in chapter via, it appears to me that such controversy need not be gone into. even, in the circular issued by the central board of direct taxes, when-section 80hha had been inserted by the finance (no. 2) act, 1977, with effect from april 1, 1978, in paragraph 20 of the circular, after referring to the provisions of sub-sections .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1990)34ITD523(Delhi)
..... . the assessing officer has rejected the claim of the assessee in this regard and has imposed the tax at normal rates as applicable under the finance act of 1987. the cit(a), faridabad, has dismissed the appeals filed by the assessees and the order of the inspecting assistant commissioner of income-tax (assessment ..... assessing officer with regard to circular issued by reserve bank of india bearing no. ad (ma series) circular no. 4 dated 11-2-87 circulated by the central board of direct taxes, the learned counsel contended that any interpretation by a non-statutory body cannot be relied upon by the revenue authorities for imposing tax obligations ..... foreign exchange' means foreign exchange which is for the time being treated by the reserve bank of india as convertible foreign exchange for the purposes of the foreign exchange regulation act, 1973 (46 of 1973) and any ' rules made thereunder. 'foreign exchange asset' means any specified asset which the assessee has acquired or purchased, with, or .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1989)(24)ECC150
..... to be necessary or expedient for the purpose of removing such difficulty, under sub-section (3) of section 50 of the finance (no. 2) act of 1980. exercising these powers the central government passed "the customs, central excise & gold (control) removal of difficulties order, 1982 making the provisions of this order enforceable from 11th day of october ..... dyes & chemicals, supra that while making the said observations in para 8, the provisions of sub-section (3) of section 50 of the finance (no. 2) act, 1980 and the customs, central excise and gold (control) removal of difficulties order, 1982 were not noticed, nor they were brought to the notice of the bench, otherwise the ..... to the provisions for appeal) by the department or by the concerned party the legislature itself empowered the central government under sub-section (3) of section 50 of the finance (no. 2) act, 1980 to pass any general or special order to do anything not inconsistent with the amended provisions which appear to be .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1988)27ITD619(Delhi)
..... chargeable profits have to be worked out under this schedule and in the context of the present appeal the following explanation' which was inserted by the finance act, 1981, w.e.f, 1-4-1981 is relevant: explanation - notwithstanding anything contained in any clause of this rule, the amount of any income or profits and ..... infirmity in allowing 80j relief as deduction to the assessee in accordance with law for the work out of chargeable profits under the companies (profits) surtax act, 1964.5. as regards central subsidy, which has been received by the assessee in lieu of its location in a backward area, naturally this is not a liability' and subsidy is ..... the circumstances of the case, the commissioner of income-tax (appeals) has further erred in law and facts holding that the amount of rs. 3,20,100 representing central subsidy reserve be included in computing capital of the company for working out the statutory exemption for surtax purposes.2. parties have been heard at length. orders of the .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi
Reported in : (1989)(41)ELT565TriDel
..... been taken on the correct classification of the goods under the customs tariff. being aggrieved from the aforesaid order the appellants had filed a revision application to the central government which stands transferred to the tribunal to be disposed of as an appeal. a notice of hearing was sent to the appellants per registered post. the appellants ..... directed that the goods can be redeemed on payment of fine of rs. 5000/-. being aggrieved from the aforesaid order the appellant had filed an appeal to the central board of excise and customs. the hon'ble board had held that the geods were covered by the import licence and had quashed the finding of fine in ..... ltd., cochin had filed a revision application to the secretary, government of india, ministry of finance, department of revenue, new delhi. the said revision application stands transferred to the tribunal in terms of the provisions of section 131b of the customs act, 1962 to be disposed of as an appeal.2. briefly the facts of the case are .....
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 .....
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 : 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 : 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 : Delhi
Reported in : [1984]55CompCas81(Delhi); 1982CriLJ2230; ILR1983Delhi419
..... the manager of the super bazar was not employed in connection with the affairs of the union, because the super bazars though heavily financed by the government are not owned by the central government but are owned and managed by the co-operative stores ltd. (27) let us then examine the case of the chairman petitioners ..... of section 21 indian penal code . on the grounds :- (i) that it is a government company within section 617 of the companies act; (ii) it is also a body corporate established under a central act ; (iii) it is an authority under article 12 of the constitution. (39) the learned judges, however, did not take into ..... stngh v. municipal. board, : 1970crilj492 , relied upon in delhi development authority v. punjab national bank (supra) while interpreting section 20 of the prevention of food adulteration act, 1954, it was held that where the complaint was filed by a person authorised by the municipal corporation, the corporation is the complainant. thus, the dda will no doubt .....
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