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Commissioner of Wealth-tax, Bombay Vs. Bombay Suburban Electric Supply ...
Mumbai
Mar-16-1975
Direct Taxation
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
[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 … may be.' 8. The argument of Mr. Joshi, on behalf of the revenue, is that under the charging section 3 of the Act wealth-tax is to be charged as a tax in respect of the net wealth on
Tag this Judgment! AI Brief & AskV. Gokulkrishna Vs. M.C. Nanaiah
Karnataka
May-13-1993
Constitution
Constitution of India - Articles 14, 74(2), 163(3), 226 and 267(2); Evidence Act - Sections 123
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 … basis that the Appropriation Act was duly passed by both the Houses of Legislature; the learned Single Judge observed;"Section 3 thereof (The Appropriation (No. 3) Act, 1992) provided that sums authorised to be paid and applied from and
Tag this Judgment! AI Brief & AskSatish Chandra Khandelwal Vs. Union of India and ors.
Delhi
Feb-06-1981
Civil
Delhi Municipal Corporation Act, 1957 - Sections 490(1)
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490(i) of the Delhi Municipal Corporation Act, 1957 (the Act)' the Municipal Corporation of Delhi (the Corporation) was superseded.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 … all the powers and duties of a local authority. To it is entrusted the municipal government of Delhi'. Section 3 of the Act establishes the Municipal Corporation of Delhi. The Corporation is a body corporate having perpetual succession
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Commissioner of Wealth-tax, Gujarat Vs. Raipur Manufacturing Company L ...
Gujarat
Oct-18-1962
Direct Taxation
Wealth Tax Act, 1957 - Sections 2, 3, 4, 4(1), 5, 6, 7, 7(1), 7(2), 14, 27(1) and 46; Income Tax Act, 1922 - Sections 18A and 23B
(1963)0GLR741
it is necessary to examine some of the provisions of the Wealth-tax Act, 1957. The charging section is section 3. That section runs as unde : '3. Charge of Wealth-tax. - Subject to the other provisions contained in … Swinfen Eady in dealing with the matter observed that there was no contingency which could happen to deprive the doctor of his right to payment … block at Rs. 86,29,439. As against this amount there was a depreciation fund amounting to Rs. 60,39,993. The Companies Act, 1956, came into force on … K.T. Desai, C.J.1. This reference under section 27(1) of the Wealth-tax Act, 1957, raises some interesting and important questions relating to the construction of section 2(m) and section 7of the Wealth-tax
Tag this Judgment! AI Brief & AskCommissioner of Wealth-tax, Gujarat Ii Vs. Arvind Narottam
Gujarat
Oct-01-1973
Direct Taxation
Income Tax Act, 1961 - Sections 2(1B); Wealth Tax Act, 1957 - Sections 3, 21, 21(1), 21(2), 21(4) and 41(1)
[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
Tag this Judgment! AI Brief & AskCommissioner of Wealth Tax Vs. Raipur Manufacturing Co. Ltd.
Gujarat
Oct-16-1962
Direct Taxation
Wealth Tax Act, 1957 - Sections 2, 4(3), 6, 7, 7(1) and 7(2); Income-tax Act, 1922 - Sections 3, 4, 18A, 18A(1), 18A(2), 23B and 67B; Wealth Tax Rules, 1957 - Rule 4; Finance Act
AIR1964Guj154; [1964]52ITR482(Guj)
is necessary to examine some of the provisions of the Wealth Tax Act, 1957. The charging Section is Section 3. That Section runs as under:- '3. Charge of Wealth-tax:- Subject to the other provisions contained in this Act … Swinien Eady in dealing with the matter observed that there was no contingency which could happen to deprive the doctor of his right to payment … block at Rs. 86,29,439/-. As against this amount there was a depreciation fund amounting to Rs. 60,39,883/-. The Companies Act, 1956, came into force on … K.T. Desai, C.J.1. This Reference under Section 27(1) of the Wealth Tax Act, 1957, raises some interesting and important questions relating to the construction of Section 2(m) and Section 7 of the
Tag this Judgment! AI Brief & AskCommissioner of Wealth-tax, Bombay City-i, Bombay Vs. Andhra Valley Po ...
Mumbai
Dec-01-1977
Direct Taxation
Wealth Tax Act, 1957 - Sections 2, 3, 5, 5(1), 27(1) and 45
[1978]114ITR783(Bom)
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 … 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 … the wealth-tax Act is entirely different from the subject of the charge under the Income-tax Act. While under section 3, tax is levied in respect of the net wealth on the corresponding valuation date, under the provisions of
Tag this Judgment! AI Brief & AskThe Commissioner of Wealth Tax, Andhra Pradesh, Hyderabad Vs. Trustees ...
Supreme Court of India
May-03-1977
Direct Taxation
Wealth-tax Act, 1957 - Sections 2, 3, 21 and 21(4); Indian Income-tax Act, 1922 - Sections 41 and 41(2); Income-tax Act, 1961 - Sections 161 and 161 (2)
AIR1977SC2103; [1977]108ITR555(SC); (1977)3SCC362; [1977]3SCR735
and complexity and they turn on the true interpretation of Sections 3 and 21 of the Wealth Tax Act, 1957 but since they can be answered only by applying the correct interpretation to the facts of the case, … various beneficiaries specified In Part X of the Second Schedule and every contingency was taken care of in laying down the mode of devolution, so … divided into 175 equal units, out of which five units constituted a Fund called the 'Reserve Fund', 31/2 units constituted a 'Family Trust Expenses Fund' … Appellate Assistant Commissioner should have 'given a definite finding regarding the applicability of Section 21, Sub-section (4) or Section 3 to the facts of the case.' The argument of the Revenue in regard to this contention was that
Tag this Judgment! AI Brief & AskRajashree Cement, a Unit of Grasim Industries Limited, by Its Deputy G ...
Karnataka
Dec-22-2006
ElectricityConstitution
Karnataka Electricity (Taxation on Consumption) Act, 1959 - Sections 3, 4 and 8; Mysore Electricity (Taxation on Consumption) Act, 1950; Mysore Electricity (Taxation on Consumption) Amendment Act, 1957; States Reorganization Act; commencement of Karnataka Electricity (Taxation on Consumption) (Amendment) Act, 2004; Parent Act - Sections 3(1) and 3(2); Karnataka Electricity (Taxation on Consumption) Rules - Rules 3, 3(2) and 10; Karnataka Electricity (Taxation on Consumption) (Amendment) Ordinance, 2003; Constitution of India - Articles 14, 226 and 227
2009(2)KarLJ400
is one in the context of augmenting the revenue of the State, which ultimately forms part of the contingency fund of the State, the levy is one which subserves the object of a fiscal statute like the present … objects and reasons to the principal Act i.e. Act No. 14 of 1957, and submit that the very object of the principal Act was to … is known as electricity tax under the provisions of the Karnataka Ordinance No. 8 of 2003, which amended Section 3 of the Karnataka Electricity (Taxation on Consumption) Act, 1959 [for short 'the Act'] and levied a tax burden
Tag this Judgment! AI Brief & AskJ. Alexander Vs. Central Bureau of Investigatin, Bangalore
Karnataka
Feb-09-2000
Criminal
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)
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
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