Judgment Search Results Home > Cases Phrase: wealth tax act 1957 section 35b failure to furnish returns of net wealth Sorted by: recent Court: mumbai Page 1 of about 33 results (0.068 seconds)

Purshottam Thackersey Vs. K.N. Anantarama Ayyar, Commissioner of Wealt ...

Court : Mumbai

Reported in : (1984)39CTR(Bom)249; [1985]154ITR395(Bom); [1984]18TAXMAN443(Bom)

..... of a notice to him under sub-section (2) of section 14, voluntarily and in good faith, made full and true disclosure of his net wealth, and (b) in the case referred to in clause (ii), has, prior to the detection by the wealth-tax officer ..... (1) notwithstanding anything contained in this act, the commissioner may, in his discretion, whether on his now motion or other wise, - (i) reduce or waive the amount of penalty imposed or imposable on a person under clause (i) of sub-section (1) of section 18 for failure without reasonable cause to furnish the return of net wealth which such person was required to furnish sub-section (1) of section 14, or (ii) reduce or waive the amount of penalty imposed or imposable on a person under clause (iii) of sub-section (1) of section 18, if he is satisfied that such person, - (a) in the case referred to in clause (i), has, prior to the issue ..... act, 1957 (hereinafter referred to as 'the act'). .....

Shakti Yezdani and Others Vs. Jayanand Jayant Salgaonkar and Others

Court : Mumbai

..... hon'ble justice sinha of the supreme court in the abovereferred judgment are to be considered and applied having regard to the context and object of the act, it would follow that the use of the word vest in section 10(2) of the act merely means that the nominee is merely entitled to collect the amount for benefit of heirs of the deceased coupled with exemption thereof from attachment and subject ..... court in sarbati devi case [(1984) 1 scc 424 : 1984 scc (tax) 59] holds the field and is equally applicable to the nominee becoming entitled to the payment of the amount on account of national savings certificates received by him under section 6 read with section 7 of the act who in turn is liable to return the amount to those in whose favour the law creates a beneficial interest, subject to the provisions of sub-section (2) of section 8 of the act. ..... a savings certificate and there is no nomination in force at the time of his death and probate of his will or letters of administration of his estate or a succession certificate granted under the indian succession act, 1925, is not within three months of the death of the holder produced to the prescribed authority, then, if the sum due on the savings certificate does not exceed such limit as may be prescribed, ..... the delhi improvement trust, air 1957 sc 344 and holding that the word vest in the context could mean mere possession for specific purpose without any title was not ..... the delhi improvement trust (air 1957 sc 344), wherein the apex .....

T.A.I.Pharma Ltd. Vs. Wockhardt Ltd.

Court : Mumbai

..... it is the case of the applicant that the goods which were delivered by the plaintiff-respondent were defective and damaged and there was also failure to deliver the goods in time as a consequence whereof the applicant had suffered damages and in respect of which the applicant is entitled to claim ..... reliance upon the arbitration clause in the standard contract, an application under section 34 of the old arbitration act was made by the appellant for the stay of the suit. ..... of the appeal, the learned counsel for the appellant urged that the learned single judge has completely ignored that section 45 of the arbitration and conciliation act,1996 (for short `the said act of 1996') starts with a non-obstante clause. ..... was filed on the 5th february, 1974, and this application was made under section 34 of the arbitration act, 1940, on the 12th march, 1974. ..... court made a distinction between the provision of section 34 of the old arbitration act and section 3 of the foreign award (recognition and enforcement) act, 1961. ..... the plaintiffs seek to enforce the liability of the defendants as sureties in view of section 37 of the negotiable instruments act read with section 145 of the contract act. ..... this position flows from section 32 of the negotiable instruments act which lays down that in the absence of a contract to the contrary, the maker of a promissory note and the acceptor before maturity of a bill of exchange are bound to pay the amount thereof at maturity according ..... of income-tax, bombay south, .....

Essar Procurement Services Ltd. Vs. Paramount Constructions

Court : Mumbai

..... essar oil limited (supra) has after adverting to various judgments of supreme court and judgment of this court in case of cmc limited (supra) has held that in view of section 9 of limitation act, unless there is any part payment made by the other party or if the liability is acknowledged, the cause of action once having commenced when the breaches to have been committed on the other party, ..... claim for interest made under claim no.1 by the respondent was not a claim for compensation under section 73 of the contract act but was a claim for interest under note to article 7 and more particularly in respect of the alleged delay in payment of advance which was payable at the threshold, the application of article 55 of schedule to the limitation act by the arbitral tribunal in respect of claim no.1 shows non application of mind, patent illegality and ..... that under the said provisions, the petitioner had agreed to pay advance within 15 days of invoice and bank guarantee against furnishing of advance and the contract performance security bank guarantee to the petitioner within 21 days from the date of certification by the ..... had given bank guarantee in respect of both the advances to the petitioner but the petitioner gave only one advance to the respondent and subsequently returned the bank guarantee without encashment thereof. ..... the petitioner had only deducted 'tax deducted at source' from the ..... the petitioner on 18th july, 1998 after deduction of 'tax deducted at source' at rs.1,750/-. .....

Meera Metal Industries Vs. Commissioner of Sales Tax, Mumbai

Court : Mumbai

..... by the appellants therein was an aluminium household utensil made of aluminium and aluminium alloys classifiable under entry 5 of the first schedule under the kerala general sales tax act, 1963, or whether the said product would fall under entry 104 which pertained to pressure cooker, cook and serve ware to keep food warm, casseroles, water ..... are as under:- (i) whether on the facts and circumstances of the case and on true and correct interpretation of the schedule entries c-ii-17 and c-ii-46a appended to the bombay sales tax act, 1959, was the tribunal legally justified in holding that the hard-anodised utensils sold by the appellant under his sale invoice dated 12.01.1995 is a heat-resistent cookware under the ..... tax references, the second bench of the maharashtra sales tax tribunal (for short the mstt ) has referred the following questions of law for an opinion of this court under section 61 of the bombay sales tax act, 1959 (for short bst act ..... the facts and circumstances of the case and on true and correct interpretation of the schedule entries c-ii-24 and c-ii-26 appended to the bombay sales tax act, 1959, was the tribunal legally justified in holding that the hard-anodised utensils sold by the appellant under his sales invoice dated 06.02.1996 ..... , anodized concave tawa and anodized kadai , the applicant filed two applications both dated 10th october, 1997 ( the ddq applications ) under section 52 of the bst act for determination of the rate of tax in respect of the said products. .....

M/s. Sonoma Management Partners Pvt. Ltd. and Another Vs. Bank of Maha ...

Court : Mumbai

..... in the aforesaid decision was whether section 38c of the bst act, section 26b of the kerala general sales tax act, 1963 and similar provisions contained in other state legislations, by which a charge was created on the property of the dealer who was liable to pay the sales tax, are inconsistent with the provisions contained in the recovery of debts due to banks and financial institutions act, 1993 and the sarfaesi act and whether these two central legislations ..... , the expression charge , just like in the karnataka sales tax act, 1957 is also not defined in the bombay sales tax act, 1959. ..... mr kontagale submitted that the ratio of the aforesaid supreme court decision cannot be applied to the facts of the present case as the provisions under consideration before the supreme court were that of the karnataka sales tax act, 1957 and not of the bombay sales tax act, 1959. ..... thereafter, section 13 of the sarfaesi act provides for enforcement of security interest and measures by which enforcement is permissible including upon failure of the borrower to discharge its liability in full of the secured creditor within the period specified under section 13(2) by taking possession of the secured assets and transferring the same either by way of lease, assignment and/or ..... this entire list of documents was furnished to the petitioners only on 5 june, 2013 and which is set out by the petitioners in paragraph 4 (xvi) of the ..... consent of parties, rule is made returnable forthwith and heard finally. 2. .....

M/s. Auto Creaters Vs. Union of India and Others

Court : Mumbai

..... (e) on receipt of the settlement application, respondent no.4 issued a notice dated 14th october, 2015 under section 127c(1) of the act inter alia conveying to the petitioner that its application was found deficient on the grounds mentioned in paragraph 2 of the ..... prior to its omission, sub-s (1-a) read as under - (1-a) notwithstanding anything contained in sub-section (1), where an application was made under sub-section (1) before the 1st day of june 2007 but an order under sub-section (1) of section 127-c gas bit beeb nade befire tge saud date, the applicant shall within a period of thirty days from the 1st day of june 2007, pay the accepted duty liability ..... omission, sub-s (2) read as under - (2) where any dutiable goods, books of account, other documents or any sale proceeds of the goods have been seized under section 110, the applicant shall not be entitled to make an application under sub-section (1) before the expiry of one hundred and eighty days from the date of the seizure. ). ..... the legislature was of the view that a rigid attitude would inhibit a one-time tax evader or an unintending defaulter from making a clear breast of his affairs and unnecessarily strain the investigation resources of ..... consent of parties, rule made returnable forthwith and heard finally. ..... filed a detailed reply to the aforesaid notice vide its advocate's letter dated 19th october, 2015 and furnished detailed clarifications to respondent no.4. ..... admittedly were never furnished to the petitioner .....

The New India Assurance Co. Ltd. Vs. Hussain Babulal Shaikh and Others

Court : Mumbai

..... bhoyabhai haribhai bharvad (supra) wherein though the insurance company tried to assert the proposition on clause (ix) and (ixa) of sub-section (3) of section 194a of the income tax act (inserted with effect from 1.6.2015 by finance act,2015 substituting clause (ix)), the division bench however following the law laid down in the case of smt.hansagauri prafulchandra ladhani (supra) and confirming the interpretation as held therein wherein in a similar situation the law ..... (vi) when the claimants make applications before the authority under the income tax act,1961 for the refund of the amount deducted under the provisions of section 194a(3)(ix) of the act, the concerned authority shall decide such applications with utmost expedition. 13. ..... it is submitted that the division bench has interpreted section 194a(3)(ix) of the income tax act and has laid down a detailed guidelines to be followed by the insurance companies for deduction of tds in payment of the award amount, and the effect is that the award amount stands reduced. ..... as regards the application of the above provisions of the income tax act, learned counsel for the petitioner would submit that on a conjoint reading of these provisions, following interpretation is available: (a) the interest on compensation granted by mact is chargeable to tax in the year in which it is received by the assessee-claimant in terms of sections 145a(b) and 56(2)(viii) of income tax act. .....

Parmanand Builders Pvt. Ltd. and Another Vs. Commissioner of Income-Ta ...

Court : Mumbai

..... during the course of hearing of the appeals, the assessee not only contested the accounting method applied by the authorities below, namely, the percentage completion method, and the quantum of on money assessed to tax, but also contended in the alternative that if the authorities were right in assessing the quantum of on money and the method of its accounting, the working of such on money for assessment years 1987 ..... tribunal that for the assessment years 1987-88 and 1988-89 the assessing officer was not correct in assessing the amount of 'on-money' as disclosed by the assessee in its returns of income instead of the sums of rs.8,16,000/- and rs.2,02,000/- as worked out by the assessing officer himself at page 5 of the assessment order for the assessment year 1987-88? 8. ..... though these statements were subsequently retracted by the concerned employees, in the course of proceedings under section 132 (5) of the act, the assessee itself came forward with a disclosure of rs.66 lakhs 'on-money', which was offered for taxation in the two assessment years, namely, 1987 88 and 1988 ..... to the assessee were that (a) the assessee had not taken such ground in its appeal and (b) the assessee had not objected to its own returns for assessment years 1987 88 and 1988 89, which inter alia disclosed on money of rs.26,00,000 and rs.40,00,000. ..... these returns were consistent with its case in the appeals, namely, that the amount of rs.66,00,000/- is correctly brought to tax in assessment years 1987 88 and .....

Colgate-Palmolive (India) Ltd. and Another Vs. State of Maharashtra an ...

Court : Mumbai Aurangabad

..... at the premises of the manufacturer or packer is specified in rule 25 (1) of the packaged commodities rules and as per this rule, the action is to be taken only if: (a) the statistical average of the net quantity contained in the packages drawn as samples under that rule is less than the quantity declared on the packages are on the labels affixed thereto, or (b) the number of packages, showing and error in deficiency greater ..... dated 8.7.1994 issued a clarification regarding the standards of weight and measures (packaged commodities) rules, 1977 and informed to all india management association that according to the provisions of rules 11 (4), net quantity declaration of toilet soap and other commodities listed in the fourth schedule, may be qualified by the words when packed as the commodities are likely to undergo significant variations in weight or ..... magistrate has rightly taken cognizance and issued the process against the applicants for having committed an offence punishable under sections 33/51 of standards of weights and measures (enforcement) act, 1985 read with rules 24 and 25 of the standards of weights and measures (package commodity) rules, 1977. ..... shall make a report indicating therein his findings with regard to the declarations required to be made under these rules and as to the net quantity actually contained in the sample packages and the extent of error, if any, noticed by him and furnish a copy of such report to the manufacturer or the packer, as the case may be. ..... tax .....