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Bhagavathy Tea Estates Ltd. and ors. Vs. State of Kerala and ors.

Court : Kerala

Subject : Direct Taxation

Acts : Kerala Plantation Tax Act, 1960; Kerala Finance Act, 1987 - Sections 3; Finance Act, 1987

Reported in : [1989]179ITR508(Ker)

to the Subject Committee on August 10, 1987. The Subject Committee deliberated over the proposals of the Bill. Section 3 of the amendment bill proposed to amend the Kerala Plantation Tax Act, 1960, by substituting a new Schedule … is useful to bear in mind some well recognised statutory practices in relation to the taxation statutes. The Finance Act, passed later, can act and affect the citizens in retrospect. In relation to the income of a previous … attention of administrators including the tax-gatherers.2. Plantation tax was imposed in the State by the Kerala Plantation Tax Act, 1960 (Act 17 of 1960).3. Law-making has its own complexities. This enactment also had its share. The legislation was

State of Kerala Vs. Alex George and anr. Etc.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Kerala Finance Act, 1987 - Sections 1(2) and 3(2); Kerala Plantations Tax Act, 1960 - Sections 2(9), 3, 3(1), 3(3), 4(2), 5, 6A, 8, 9, 9A, 13, 14 and 27; State Finance Act, 1987; Kerala Plantations (Additional Tax) Rules, 1960 - Rule 16; Kerala Plantations (Additional Tax) Amendment Act, 1967; Kerala General Sales Tax Act, 1963; Kerala Motor Vehicles Taxation Act, 1976; Central Excise Act, 1944

Reported in : (2004)192CTR(SC)581; [2004]271ITR290(SC); JT2004(10)SC104; 2005(1)KLT164(SC); 2004(9)SCALE545; (2005)1SCC299

dated 28.8.1998 raises the question as to the true scope and operation of Section 1(2) of the Kerala Finance Act, 18 of 1987 substituting Schedule-I to the Kerala Plantations Tax Act 1960 w.e.f. 1.7.1987.2. Since the aforestated question … Pasuppara in the State of Kerala. For the assessment year commencing from 1.4.1987, the firm was assessed under Section 3 of the Kerala Plantations Tax Act, 1960 (hereinafter for the sake of brevity referred to as 'the 1960

Commissioner of Wealth-tax Vs. Kodaikanal Club

Court : Chennai

Subject : Direct Taxation

Acts : Finance Act, 1983 - Sections 40, 40(1), 40(6) and 40(7); Wealth Tax Act, 1957 - Sections 2, 3 and 21AA; Finance Act, 1960 - Sections 13; Societies Registration Act, 1860; Income Tax Act, 1961 - Sections 2(17) and 2(18)

Reported in : (2003)181CTR(Mad)534; [2003]260ITR617(Mad)

assessable entities are individual, Hindu undivided family and company. In the year 1960, by Section 13 of the Finance Act, 1960, the levy of wealth-tax on the wealth of companies came to be excluded with effect form the assessment … its members, registered itself during the year 1977 under the provisions of the Societies Registration Act, 1860. Under Section 3 of the Wealth-tax Act, 1957, the three assessable entities are individual, Hindu undivided family and company. In the

Bhawanidas Binani Vs. Commissioner of Wealth-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2; Finance Act, 1965 - Sections 68; Income Tax Act, 1961

Reported in : [1980]124ITR783(Bom)

and in the circumstances of the case, any part of the tax paid under Section 68 of the Finance Act, 1965, was a ' debt owed ' on the relevant valuation dates within the meaning of Section 2(m) … of tax. According to this submission, the charging section remains what it was under the I.T. Act, i.e., Section 3 of the Indian I.T. Act, 1922, or Section 4 of the I.T. Act, 1961. According to this submission, … 14,75,342 11,21,072 8,48,782 8,41,686 1959-60 2014 11-11-1958 14,89,596 14,58,246 11,21,60 8,49,070 8,41,232 1960-61 2015 31-10-1959 15,03,404 14,69,947 11,32,092 8,56,940 8,39,071 1961-62 2016 20-10-1960 15,58,933 14,86,992

Commissioner of Income-tax Vs. Mahasamund Kissan Co-operative Rice Mil ...

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 14(3); Income Tax Act, 1961 - Sections 81; Finance Act, 1960

Reported in : [1976]103ITR499(MP)

not taxable under Section 14(3) of the Income-tax Act, as it stood prior to its amendment by the Finance Act, 1960, which came into force with effect from April 1, 1960. It was contended that the amended section would

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

order for the winding up of the Company, or before or after the commencement of the Companies (Amendment) Act, 1960. Sub-clause (3) of Section 446 is important. It states that any suit or proceeding by or against the … of the Companies Act, 1956-namely (i) the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the Life Insurance Corporation of India and

Commissioner of Income-tax, Delhi and Rajasthan Vs. Mazdoor Kisan Sahk ...

Court : Rajasthan

Subject : Direct Taxation

Acts : Income-tax Act, 1922 - Sections 10(2) and 14(3); Income-tax (Amendment) Act, 1960

Reported in : AIR1970Raj252; [1970]75ITR253(Raj); 1969()WLN365

of the assessee became taxable by the amendment of Section 14 (3) of the Act made by the Finance Act, 1960 and this amendment could not take away the vested right of the assessee exempting its business income from

Lloyds Insulations (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)80ITD465(Delhi)

closely-held companies was chargeable to tax under 1957 Act but later on by virtue of Section 13 of Finance Act, 1960, wealth of such companies was exempted from the provisions of 1957 Act. However, the wealth of such companies … brought within the mainstream by Finance Act, 1992, w.e.f. 1st April, 1993, by insertion of Sub-section (2) of Section 3 of 1957 Act. In this connection, he also drew our attention to Notes on Clauses Nos. 91, 100

State Bank of Travancore Employees Union Vs. Commissioner of Wealth-ta ...

Court : Chennai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 3

Reported in : (1998)149CTR(Mad)418; [1999]238ITR466(Mad)

the levy of wealth-tax on companies was discontinued by the Finance Act of 1960. Section 13 of the Finance Act, 1960, provided that notwithstanding what is contained in the Wealth-tax Act, no tax shall be charged in respect of … Unions Act and the authorities and decisions considered by it. 2. The charge to wealth-tax is created under Section 3 of the Wealth-tax Act, 1957, which creates a charge for wealth-tax in respect of the net wealth of

Assistant Commissioner of Vs. Park Hotel (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (1992)41ITD501(Kol.)

are of the view that the order of the CWT(A) on this point has to be upheld. The Finance Act, 1960 suspended the levy of wealth-tax on companies from 1961 to 1983. In the year 1983 Finance Act, 1983 … submitted that Sub-section (2) of Section 40 of the Finance Act, 1983 itself defined what "net wealth" was. Sub-section (3) enumerated the assets that were referred to in Sub-section (2). When Sub-section (3) of Section 40 of the