Advanced Search Results

J. Alexander Vs. Central Bureau of Investigatin, Bangalore

Court : Karnataka

Subject : Criminal

Acts : Code of Criminal Procedure (CrPC) , 1973 - Sections 156(1), 155(2), 226, 227, 228, 239, 240 and 482; Prevention of Corruption Act, 1988 - Sections 13(1) and (2); Indian Penal Code (IPC), 1860 - Sections 34, 120-A , B, 419, 420 and 477-A; Constitution of India - Articles 14 and 267(2); Karnataka Contingency Fund Act, 1957; Prevention of Corruption Act, 1947 - Sections 5(1) and (2)

Reported in : ILR2000KAR1418; 2000(3)KarLJ628

money to accused 3 was violative of Article 267(2) of the Constitution and the provisions of the Karnataka Contingency Fund Act, 1957, and, accordingly, this Court quashed the Government Order for the supply of the computers offered by accused 3 … of charges against the petitioner (accused 1) in Special C.C. No. 134 of 1994 for the offences under Section 120-B of the Indian Penal Code and Section 13(1)(d) read with Section 13(2) of the Prevention of Corruption

Commissioner of Wealth-tax, Bombay Vs. Bombay Suburban Electric Supply ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(1); Wealth Tax Act, 1957 - Sections 2, 3, 4, 5, 6 and 27; Electricity Act - Sections 7, 7A and 7A(2); Electricity (Supply) Act

Reported in : [1976]103ITR384(Bom)

shows such asset as assets of company - capital reserve to be treated as assets of company. (ii) Contingency fund - Sections 2(m) and 3 of Wealth Tax Act, 1957 - assessee entitled to make payments out of … Kantawala, C.J.1. By this reference under section 27 of the Wealth-tax Act, 1957 (hereinafter referred to as 'the Act'), the following three questions are referred,

Tata Iron and Steel Co. Ltd. Vs. D.V. Bapat, Income-tax Officer, Compa ...

Court : Mumbai

Subject : Direct Taxation

Acts : Payment of Gratuity Act, 1972 - Sections 4; Constitution of India - Article 226; Wealth Tax Act, 1957 - Sections 2 and 13; Income Tax Act, 1961 - Sections 4, 28, 29, 30, 31, 32, 33, 34, 35, 36, 36(1), 37, 37(1), 38, 39, 40, 40A, 41, 42, 43A and 119

Reported in : [1975]101ITR292(Bom)

the employee concerned. It may be correct to call such a liability contingent, but I must say the contingency seems to me too remote to justify a prudent trader or, for that matter, a competent accountant, in … to the employees can be allowed as a deduction, when no gratuity fund has been set up under Part C of the Fourth Schedule of … Supreme Court was considering the application of the definition of 'net wealth' in section 2(m) of the Wealth-tax Act, 1957, which requires that there should be debt owed by the assessee on the relevant valuation date. It was

Commissioner of Wealth-tax, Gujarat I Vs. Anarkali Sarabhai

Court : Gujarat

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2; ;Transfer of Property Act, 1882 - Sections 19 and 21

Reported in : [1971]81ITR375(Guj)

child or children of Bharatidevi Sarabhai who may be living at the death of the assessee. Throughout, the contingency of the beneficiary of the corpus being alive at the relevant date is emphasised in sub-clause (c) of … the trust deed constituted an 'annuity' and was, therefore, exempt form wealth-tax under section 2(e)(iv) of the Wealth-tax Act, 1957. This contention found favour with the Tribunal and the Tribunal held that the interest of the assessee under … be at liberty either to utilise the net income of the trust funds for her support, benefit, education and advancement in life of the said

Satish Chandra Khandelwal Vs. Union of India and ors.

Court : Delhi

Subject : Civil

Acts : Delhi Municipal Corporation Act, 1957 - Sections 490(1)

Reported in : AIR1983Delhi1; ILR1981Delhi917

the recommendations of the Morarka Commission in para 4.10(d) of volume-6 of its report that the practice of contingency fund should be discontinued and that instead the Councillors should draw up proposals for improvements and new works in … order of the Central Government dated April 11, 1980, made under section 490(i) of the Delhi Municipal Corporation Act, 1957 (the Act)' the Municipal Corporation of Delhi (the Corporation) was superseded. As a result all the 100 councillors … on Government loans payable by the Delhi Electric Supply Undertaking. Rs. 57,72,24,000.00 2.The Corporation failed to contribute its share to the extent of Rs. 2.25

Commissioner of Wealth-tax, Gujarat Ii Vs. Arvind Narottam

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1B); Wealth Tax Act, 1957 - Sections 3, 21, 21(1), 21(2), 21(4) and 41(1)

Reported in : [1976]102ITR232(Guj)

- Section 2 (1B) of Income Tax Act, 1961 and Sections 3, 21 and 41 of Wealth Tax Act, 1957 - assessment Orders by which assessee assessed for entire value of assets held by trustees of trusts created … which they like, it cannot be said that the share of the assessee was indeterminate or unknown. The contingency of his marriage and children and consequently under the relevant clauses the trustees having a discretion to be … case, the assessee having contingent interest in the corpus of the trust fund, the Tribunal was in error in rejecting the contention of the revenue

Cit Vs. R. M. Soma Sundaram (Huf) and anr.

Court : Chennai

Subject : Direct Taxation

Reported in : [2002]253ITR338(Mad)

than the income which forms part of the corpus or the capital fund of the trust. The trust is constituted for a period of 15 … 137 ITR 48 (Bom) dissentedfrom. Application: Also to current assessment year. Decision: In favour of revenue. Wealth Tax Act 1957 s.2(e) Wealth Tax Act 1957 s.7 In the Madras High Court R. Jayasimha Babu & K. Gnanaprakasam, JJ. … R. Jayasimha Babu, J. The question requiring our consideration is as to whether the contingent interest of the beneficiary can be regarded as an asset for the purpose of levy of wealth-tax. The … for the Assessee Head Note: INCOME TAX WEALTH TAX Net wealth--ASSET UNDER SECTION 2(E)Beneficiaries contingent interest in trust properties Catch Note: Assessees are beneficiaries of

Commissioner of Wealth-tax, Bombay City-i, Bombay Vs. Andhra Valley Po ...

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 3, 5, 5(1), 27(1) and 45

Reported in : [1978]114ITR783(Bom)

proposed in the Finance Bill which incidentally even in that case happened to be the Finance (No. 2) Act, 1957, or the rate in force in the preceding year, whichever was more favourable to the assessee. In the … in computing the net wealth of the company, the amounts in the contingency reserve, development reserve and tariffs and dividends control reserve are liable to … such time as the company may think of utilising the consumers benefit fund is lesser at that particular time. But this is not the same … of the development rebate to which the licensee is entitled for the accounting year under clause (vi-b) of sub-section (2) of section 10 of the Indian Income-tax Act, 1922. The proviso to clauses VA is not material. 4.

V. Gokulkrishna Vs. M.C. Nanaiah

Court : Karnataka

Subject : Constitution

Acts : Constitution of India - Articles 14, 74(2), 163(3), 226 and 267(2); Evidence Act - Sections 123

Reported in : ILR1993KAR1615; 1993(2)KarLJ259

Legislature, of the amounts expended which were not specifically authorised earlier under the relevant Appropriation Act.20. The Karnataka Contingency Fund Act, 1957 (the Karnataka Act No. 11 of 1957) was enacted under Article 267(2). Section 2 provides for the establishment

Vazir Sultan Tobacco Co. Ltd., Hyderabad and ors. Vs. Commissioner of ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 257; Companies Act, 1956

Reported in : AIR1981SC2105; (1981)25CTR(SC)186; [1981]132ITR559(SC); 1981(3)SCALE1483; (1981)4SCC435; [1982]1SCR789

page 42). An amount set aside out of profits and other surpluses, not designed to meet a liability, contingency, commitment or diminution in value of assets known to exist at the date of the balance-sheet is a … of income-tax and super tax was a 'debt owed' within the meaning of Section 2(m) of the Wealth-Tax Act, 1957, as on March 31, 1957 which was the valuation date and as such was deductible in computing the … in respect of which they are made whereas general reserves and reserve funds are shown as part of the proprietor's interest. (See Spicer and Pegler's