Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2004)91ITD116(Mum.)
..... . now, the assessee is claiming to carry forward the loss to the subsequent assessment year on the basis that the return was hied under section 139(2-) of the act. notwithstanding anything contained in this chapter, no loss which has not been determined in pursuance of a return filed under section 139, shall he carried forward and set off under sub-section (1 ..... 139 or within such further time as may be allowed by the income-tax officer. " finance act, 1987, again amended section 80 with effect from 1st april, 1988 to include the reference to sub-section (3) of section 74 by the . said act. similarly, the direct tax laws (amendment) act, 1987 amended section 80 with effect from 1st april, 1989, substituting the words "in .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(103)LC495(Bombay); 2002(147)ELT3(Bom)
..... dated 19th march 2002 duly sworn by one shri himanshu jhawar of bhopal claiming to be the chief manager, finance of the petitioner company. he tried to emphasize that at no point of time did the respondents make any grievance regarding actual test run of the machine as for the ..... the goods: printing pressname & address of the importer:m/s. d.r. enterprises,e 5/8 area colony, bhopal,cha no.: 11/262cha's ref no.__________________________________________________________________________________date sr. no. query date sr. no. reply/ request___________________________________________________________________________________(1) in this invoice speed of the machine m/c is sir,declared to be 36000 copies per hour ..... 1980 as amended by notifications no. 236-cus., dated 29.11.1980; no. 38-cus., dated 28.2.1982 and no. 176/86-cus., dated 1.3.1986.exemption for specified machines for printing industry.--in exercise of powers conferred by sub-section (1) of section 25 of the customs act, 1962 (52 of 1962 .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(2)ALLMR764; (2003)179CTR(Bom)348; [2002]257ITR649(Bom)
..... are or were pending shall be deemed to have been revived :provided further that the designated authority may amend the certificate for reasons to be recorded in writing.(2) the declarant shall pay, the sum determined by the designated authority within thirty days of the passing of an order by the designated authority and intimate the ..... the learned advocate for the respondent, rule, made returnable forthwith. reply has been filed by the respondent. petition and reply perused and submissions of both counsel are heard.2. the petitioner herein is assessed to income-tax for a number of years and he wanted to avail of the benefit under the kar vivad samadhan scheme, 1998. ..... the end of page 396 of the said report are as under :'especially after the limitation act, 1963, the provisions of which are now applicable to all proceedings, a provision like explanation 1 to section 132 is superfluous and no argument can be based on it.'12. mr. bhattad, therefore, submits that the concept of sufficient .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2003)78TTJ(Mum.)358
..... never have been intended by the legislature.the intention of the legislature is evident from the letter dt. 7th nov., 1978 vide no. e. no. 275/118a/77-ii(b) of the dy. secretary, ministry of finance, government of india, addressed to the government of sikkim. the relevant portion of this letter reads as under : "though the ..... 226. as regards the cause of action, relief in all the petitions was for quashing and setting aside notification no. s.o. 1028, dt. 7th nov., 1988. this notification having been superseded by section 26 of the finance act, 1989, this relief was clearly not available. action under section 147 in respect of five of the companies ..... indian it act, 1961 has not yet been extended to sikkim by any notification under article 371f(n) of the constitution and for the purpose of indian it act, .....
Tag this Judgment!Court : Mumbai
Reported in : [2001]116TAXMAN418(Bom)
..... 226 of the constitution of india, petitioners who are associations of tax practitioners, chartered accountants and architects challenge the constitutional validity of section 116 of the finance (no. 2) act, 1998. the act envisages service tax at the rate of 5 per cent of the value of taxable service provided to any person by the person responsible for collecting service tax ..... and (l) of clause (48) of section 65 and collected in such manner as may be prescribed.(4) with effect from the date notified under section 116 of the finance (no. 2) act, 1998, there shall be levied a service tax at the rate of five per cent of the value of the taxable services referred to in sub-clauses (p), (q ..... sub-clauses (a), (b) and (a) of clause (48) of section 65 and collected in such manner as may be prescribed.(2) with effect from the date notified under section 85 of the finance (no. 2) act, 1996, there shall be levied a service tax at the rate of five per cent of the value of taxable services referred to .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)168CTR(Bom)24; [2002]256ITR401(Bom)
..... architects v. union of india [2001] 252 itr 53, wherein the division bench has overruled an almost identical challenge to the vires of the finance (no. 2) act, 1998. the division bench of the gujarat high court has held that parliament has legislative competence to levy service tax under entry 97 of list i ..... service tax on professionals is, in pith and substance, only a tax on profession. all the definitions and charging section as well as valuation in the finance (no. 2) act, 1998, consistently refer to taxation of architects, chartered accountants only as 'professionals' or in the context of their professional functions. the notification issued for chartered ..... of india, the petitioners who are associations of tax practitioners, chartered accountants and architects challenge the constitutional validity of section 116 of the finance (no. 2) act of 1998. the act envisages service tax at the rate of 5 per cent. of the value of taxable service provided to any person by the person responsible .....
Tag this Judgment!Court : Mumbai
Reported in : 2000(4)ALLMR510; 2001(1)BomCR261; [2001]247ITR609(Bom)
..... against one equity share of the sixth respondent held on the record date. a copy of the return of allotment under section 75(1) of the companies act, 1956, dated july 18, 1994, in form no. 2 filed with the registrar of companies evidencing the aforesaid fact is also placed on record at exhibit '5' to the said affidavit of colabawalla. the contemporaneous ..... pending before this court, the petitioners had moved the finance minister, government of india, requesting him to look into the matter of transfer of the concerned plot at bandra land's end, making serious allegations of fraud and contravention of law including the provisions of chapter xx-c of the income-tax act. the deputy commissioner of income-tax of the fifth .....
Tag this Judgment!Court : Mumbai
Reported in : [1999]240ITR762(Bom)
..... that being so, interest on such borrowing, is allowable as a deduction under section 36(1)(iii) of the act. the controversy is, whether the full amount paid in this case by way of finance charges on the amount of rs. 2 lakhs which, in the opinion of the income-tax officer, is not merely by way of interest, but also for ..... interest in the commercial sense. this determination has to be done by the income-tax officer having regard to the facts and circumstances of each case. there can be no straitjacket formula. the income-tax officer cannot refuse to allow the deduction of interest on the ground that the rate of interest is high or that the assessee could have ..... of this contention on the decision of the supreme court in dharamvir dhir v. cit : [1961]42itr7(sc) .5. we have carefully considered the rival submissions. there is no dispute about the fact that any amount of interest paid on amount (sic) by way of capital on borrowing for the purpose of business or profession is allowable as a .....
Tag this Judgment!Court : Mumbai
Reported in : [1999]237ITR472(Bom)
..... a statutory corporation was equated to gratuity received by the employees of the central government, state government or local authority. section 10(10) as amended by the finance act, 1974, consists of three sub-clauses. retiring gratuities received by the employees of the central government, state government and local authority are fully exempted under sub-clause ..... 000 will apply in relation to all gratuities received from the statutory corporations or the private employers. to that effect is also the circular by the board bearing no. 108, dated march 20, 1973. hence, for different reasons given hereinabove, the assessing officer as also the appellate assistant commissioner were right in coming to ..... total income of any such previous year or years : explanation.--in this clause, 'salary' shall have the meaning assigned to it in clause (h) of rule 2 of part a of the fourth schedule :' 6. on reading the abovementioned section 10(10) in juxtaposition to un-amended section 10(10), it is clear .....
Tag this Judgment!Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Reported in : (1997)(72)LC594Tri(Mum.)bai
..... food and is a versatile machine used primarily for the purpose of drying various products like milk, butter milk, various kinds of glue, paints, baby foods, etc. from para 2 of the order recorded by shri i.j. rao, learned member (t), it is abundantly clear that the classification of the goods has been held to be under heading 8419 ..... (xii)] of the table annexed thereto it was rejected for the reason that the machine was for use in food industry. hence this appeal.2. the first contention of the learned counsel is that since the assessee's appeal on classification under chapter heading 8419.39 attracting duty @ 50% + 25% : 15% (25% is the ..... duty is prescribed under the finance act (even though, there is only one order of assessment by the customs authorities). therefore, we hold that the appellants were not automatically entitled to refund of auxiliary duty stated to have been paid by them in excess.4. turning to the merits of the claim for exemption, we find that serial no. 11(xii) of the .....
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