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Hari Krishna Bhargav Vs. Union of India (Uoi) and anr.

Court : Supreme Court of India

Subject : Constitution

Acts : Indian Income-tax Act, 1961 - Sections 2; Constitution of India - Articles 14, 246, 292, 293 and 366(4); Finance Act, 1964 - Sections 3(1), 44, 280, 280-A, 280-E, 280-O, 280-X, 280-X(1) and 280-X(2); Provincial Act; Compulsory Deposit Scheme Act, 1963

Reported in : AIR1966SC619; [1966]59ITR243(SC); [1966]2SCR22

to annuity deposits could appropriately be incorporated in the Indian Income-tax Act, 1961. The Parliament did enact the Compulsory Deposit Scheme Act, 1963, as a separate statute, but the does not mean that it had no power to incorporate it within … the Second Schedule.' 3. By s. 44 of the Finance Act, Ch. XXII-A relating to annuity deposit containing Sections 280-A to 280-X was introduced into the Income-tax Act. By that chapter taxpayers of certain categories are required

Visalakshi Vs. Income-tax Officer, City Circle Ii, Bangalore and ors.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2, 4, 4(3), 4(5), 4(10), 12, 13 and 156; Compulsory Deposit Scheme Act, 1963 - Sections 4(3); Finance Act, 1963

Reported in : [1968]67ITR150(KAR); [1968]67ITR150(Karn)

Scheme, 1963, made by the Central GOvernment in exercise of the power conferred by section 5 of the Compulsory Deposit Scheme Act, 1963 (Act No. XXI of 1963). 2. The question arises thus : he Compulsory Deposit Scheme Act, 1963 (Act … expression 'residual income' was defined by section 2 of the Finance Act, 1963 (Act No. XIII of 1963). 3. We are not concerned with the other parts of section 4, such as, sub-sections (4) and (5) which

Commissioner of Income-tax Vs. V.V.S. Sarma and anr.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 3; Pondicherry (Taxation Concessions) Order, 1964; Taxation Laws (Extension to Union Territories) Regulation, 1963; Finance Act

Reported in : [1977]110ITR778(Mad)

additional surcharge on residual income was computed on the amount of additional surcharge after deducting the amount of compulsory deposit paid under the Compulsory Deposit (Income-tax Payers) Scheme, 1963. Both the assessees preferred appeals before the Appellate Assistant … Act, 1961. Therefore, the words 'previous year ' in paragraph 5 is the previous year as denned in Section 3 of the Income-tax Act, 1961. The important things to note in this provision of the Act is that

Ved Vyas Chawla Vs. the Income Tax Officer 'C' Ward and Anr.

Court : Allahabad

Subject : Constitution

Acts : Constitution of India - Articles 14, 19(1), 269, 270 and 271; Finance Act, 1963; Compulsory Deposit Scheme Act, 1963

Reported in : AIR1965All37; [1965]57ITR749(All)

nor capricious; it is a perfectly understandable, intelligible and reasonable classification. 8. Lastly, it was contended that the Compulsory Deposit Scheme Act, 1963 which was, so to speak, in lieu of Additional Surcharge was violative of the principles laid down in … 50.77 nP Surcharge and Rs. 2.13 Special Surcharge totalling Rs 905.87 Np 3. The first question to be examined, there tore, is whether Surcharge can … and at another 'addtional Surcharge' in the present case, the in come-tax Officer determined the tax payable under Section 210 of the Indian Income-tax Act. 1961 (hereinafter referred to as the Act) for the payment of Rs.

Raojibhai H. Desai Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Reported in : (1985)14ITD84(Pune.)

Profit Tax Act, required the taxpayer to deposit amounts on which deduction was admissible. Compulsory Deposit Scheme of 1963 gave rebate on additional surcharge otherwise payable. In surtax reduction in surcharge was given on deposits with IDBI, … 1980-81 holding that the interest of Rs. 12,194 and Rs. 349, respectively, accruing to the assessee under the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974 ('the CDS Act') [subject to relief under section SOL of the Income-tax Act, 1961 … assessment year 1980-81 holding that the interest of Rs. 12,194 and Rs. 349, respectively, accruing to the assessee under the Compulsory Deposit Scheme (Income-tax Payers)

Prakash Corporates Vs. Dee Vee Projects Limited

Court : Supreme Court of India

Subject : Land Acquisition

provided for exclusion of the period from 15.03.2020 till 02.10.2021. A look at the scheme of the Limitation Act, 1963 makes it 9 To complete the scenario, we may indicate in the passing that even after we had … Section 12-A of the Commercial Courts Act, 2015, which prescribes the time limit for completing the process of compulsory pre- litigation mediation and directed that the said time limit would also stand extended from time to time … referred to as ‘CPC’. 2 Hereinafter also referred to as ‘the Act’. 3 Hereinafter also referred to as ‘SMWP No.3 of 2020’. 2 view of … & Criminal)7) Motor Accident Claim Cases8) Matters relating to payment of amount deposited in respect of Motor Accident Claim Cases9) Matters under Section 125 of

Commissioner of Income Tax Vs. Smt. Laxmidevi Ratani and ors.

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(14), 2(47) and 256(2); Transfer of Property Act, 1882 - Sections 6, 53A, 54 and 269UA; Specific Relief Act, 1963 - Sections 15

Reported in : (2005)198CTR(MP)336; [2008]296ITR363(MP)

Central Government;(v) Special Bearer Bonds, 1991, issued by the Central Government;(vi) Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified by the Central Government;Section 2(47)--'transfer', in relation to a capital asset, includes,--(i) the sale, exchange or … of the asset; or(ii) the extinguishment of any rights therein; or(iii) the compulsory acquisition thereof under any law; or(iv) in a case where the asset … capable of specific performance and is also assignable, and he referred to Section 15 of the Specific Relief Act, 1963. Therefore, according to Shri Wadhera a right to obtain conveyance of immovable property is clearly a 'property' as … case in CIT v. Mrs. Grace Collis and Ors. (2001) 248 ITR 323 and hence, the question has to be answered in favour of Revenue

Cit Vs. Smt. Laxmidevi Natani

Court : Madhya Pradesh

Subject : Direct Taxation

Reported in : (2006)198CTR(MP)336

Central Government)(v) Special Bearer Bonds, 1991, issued by the Central Government;)(vi) Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified by the Central Government)Section 2(47) ('transfer', in relation to a capital asset), includes,(i) the sale, exchange … of the asset; or(ii) the extinguishment of any rights therein; or(iii) the compulsory acquisition thereof under any law; or(iv) in a case where the asset … capable of specific performance and is also assignable, and he referred to section 15 of the Specific Relief Act, 1963. Therefore, according to Shri Wadhera a right to obtain conveyance of immovable property is clearly a 'property' as … the later case in CIT v. Mrs. Grace Collis (2001) 248 ITR 323 and hence, the question has to be answered in favour of revenue

Commissioner of Wealth-tax Vs. Vidur V. Patel

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Rules, 1957 - Rule 1D; Wealth Tax Act, 1957 - Sections 2, 7 and 27(1)

Reported in : (1995)124CTR(Bom)343; [1995]215ITR30(Bom)

of proprietary right. Compulsory deposit was made in this case by the assessee under the Compulsory Deposit Scheme, 1963, and the scheme framed thereunder. This Scheme was enacted to provide for the making of compulsory deposits at … assessment years 1976-77 and 1977-78 as the assessee claimed that the amount standing to his credit in the Compulsory Deposit Scheme Account was not an asset within the meaning of section 2(e) of the Act and even if it … it is answered in the negative and in favour of the Revenue. 3. So far as question No. 2 is concerned, the controversy involved therein

V.M. Rao (individual) Vs. Commissioner of Wealth-tax

Court : Chennai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 5, 5(1) and 27(1)

Reported in : [1998]229ITR813(Mad)

CWT v. Vidur V. Patel : [1995]215ITR30(Bom) , wherein the Bombay High Court had held that 'under the Compulsory Deposit Scheme, 1963, the deposit in any year is repayable with interest thereon at any time after the expiry of … Scheme, 1974. For the assessment year 1975-76, the valuation dated is March 31, 1975. The compulsory deposits made as on the valuation date amounted to … the Tribunal referred the following question for the opinion of this court under section 27(1) of the Wealth-tax Act, 1957 (hereinafter referred to as 'the Act'). 'In the facts and circumstances of the case was the Income-tax