Advanced Search Results

Commissioner of Income Tax, Madras Vs. Madurai Mills Co. Limited

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Indian Income Tax Act, 1922 - Sections 10(2), 12, 12-B, 12-B(1), 12-B(2), 12-B(3) and 66(1); Indian Finance Act, 1949; Finance Act, 1956; Trustee Act, 1925 - Sections 30 and 61; Finance Act, 1910 - Sections 74(6); Income Tax Act, 1961 - Sections 46; Statute Laws; Companies Act; Income Tax and Excess Profits Tax (Amendment) Act, 1947

Reported in : [1973]3SCR662a

capital gains arising after March 31, 1946. The tax on capital gains was virtually abolished by the Indian Finance Act, 1949 which confined the operation of that section to capital gains arising before April 1, 1948. Capital gains … to the revenue.19. Reference has also been made bv Mr. Manchanda to Section 46 of the Income Tax Act, 1961 which contains a provision for charging with capital gains the money or assets received by a shareholder on … that the sum of Rs. 95,944/- is liable to tax under Section 12B(2) ?3. The matter relates to assessment year 1961-62. The assessee is a

Misrilal JaIn and anr. Vs. State of Orissa and anr.

Court : Supreme Court of India

Subject : Other Taxes

Acts : Orissa Taxation (on Goods Carried by Roads or Inland Waterways) Validation Act, 1959 - Sections 1(3), 3 and 27; Orissa Taxation (on Goods Carried by Roads or Inland Waterways) Validation (Amendment) Act, 1962; Constitution of India - Articles 13(3), 144A, 226 and 304; Orissa Taxation (on Goods carried by Roads or Inland Waterways) (Amendment) Act, 1964 - Sections 4; Orissa Taxation (on Goods carried by Roads or Inland Waterways) (Amendment) Act, 1968 - Sections 12; Finance Act, 1961; Finance (Amendment) Act, 1962

Reported in : AIR1977SC1686

substance provided that the failure to comply with the constitutional mandate of Presidential sanction shall not invalidate the Finance Acts of 1961 and 1962. It was held by this Court that it was not competent to the … statutory right to question the correctness of the assessment This apprehension is unfounded because the 2nd proviso to Section 12 of the Act of 1968 empowers the appropriate authority to admit an appeal after the period of limitation

Kalawati Devi Harlalka Vs. Commissioner of Income-tax, West Bengal and ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Indian Income-tax Act 1922 - Sections 18A, 23, 23A, 25, 25A, 29, 31, 33, 33B, 34, 35, 44, 60(1), 131 to 136, 140 to 146, 147, 148, 149, 150, 153, 156 to 158, 185, 187 to 189, 282 to 284 and 288; Constitution of India - Article 226; Income-tax Act, 1961 - Sections 297, 297(1), 297(2) and 298; General Clauses Act - Sections 6; Income-tax (Removal of Difficulties) Order, 1962; Finance Act, 1950 - Sections 3, 11, 12, 13 and 13(1); Payment of Bonus Act, 1965 - Sections 37

Reported in : AIR1968SC162; [1967]66ITR680(SC); [1967]3SCR833

Act 1922, Article 226 of Constitution of India, Sections 297, 297 (1), 297 (2) and 298 of Income-tax Act, 1961, Section 6 of General Clauses Act, Income Tax (Removal of Difficulties) Order, 1962, Sections 3, 11, 12, 13 and … 'Now the question is in what sence has the work 'assessment' been used in section 13(1) of the Finance Act, 1950. Two circumstances may be noticed at once. The long title says that the Finance Act, 1950, is

Maharana Mills Pvt. Ltd. Vs. Income Tax Tribunal, Ahmedabad and ors.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1922; Saurashtra Income Tax Ordinance, 1949; Finance Act, 1950 - Sections 12 and 13; Taxation Laws (Part B States) (Removal of Difficulties) Order, 1950; Constitution of India - Article 141

Reported in : AIR1989SC1719; (1990)1GLR407; [1989]178ITR345(SC); JT1989(2)SC399; 1989Supp(2)SCC210; [1989]3SCR1

of the Finance Act of 1950, which provides for repeals and savings, the Saurashtra Income-tax Ordinance was repealed. Section 12 of that Act provided for the removal of difficulties as follows:If any difficulty arises in giving effect to … Act, 1922 became applicable to the State of Saurashtra from 1st April, 1950 under the provisions of the Finance Act, 1950. By Section 13 of the Finance Act of 1950, which provides for repeals and savings, the Saurashtra … on 1st April 1963. In brief, this clause provided that in making any assessment under the Indian Income-tax Act, 1961 all depreciation actually allowed under the local laws shall be taken into account in computing the written down

State of Kerala and ors. Vs. Maharashtra Distilleries Ltd. and ors.

Court : Supreme Court of India

Subject : Excise

Acts : Kerala Abkari Act - Sections 6, 7, 11, 12, 14, 17, 18, 18A, 21 and 29; Kerala Abkari Rules; Kerala Sales Tax Act; Kerala General Sales Tax Act, 1963 - Sections 2, 5, 5(1), 5(2C) and 35; Kerala Finance Act, 2001 - Sections 3A; Kerala Distillery and Warehouse Rules, 1968 - Rules 16(1), 47, 50 and 52; Foreign Liquor Storage in Bond Rules, 1961 - Rules 3, 3(1), 11 and 11(1); Foreign Liquor Rules, 1953 - Rules 3, 13(9) and 14; Cochin Abkari Act - Sections 10, 14, 24, 29 and 29(2); Kerala Abkari Shops (Disposal in Auction) Rules, 1974 - Rule 3(1A); Central Sales Tax Act, 1956; Finance Act, 2001; Constitution of India - Articles 301, 304, 304(1) and 311; Sea Customs Act, 1878 - Sections 20; Central Excise Act, 1944 - Sections 3

Reported in : AIR2005SC2594; JT2005(5)SC427; (2005)11SCC1; [2005]141STC358(SC)

on 1.4.2001 the State of Kerala amended Section 5(2C) of the Kerala General Sales Tax Act; by the Finance Act of 2001, by adding an explanation which was brought into effect retrospectively from July 1, 1987 which reads … Kerala. Chapter IV of the Act deals with manufacture, possession and sale of liquor. The relevant part of Section 12 reads as follows :-'12. (1) Manufacture of liquor or intoxicating drag prohibited except under the provisions of this … to the warehouse licensed under the Foreign Liquor Storage in Bond Rules. 1961.(2) On payment of duty or gallonage fee or vending fee or other

R.B. Shreeram Religious and Charitable Trust Vs. Commissioner of Incom ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 11, 11(1), 12, 12(1), 12(2), 13 and 139; Finance Act, 1972

Reported in : (1988)73CTR(Bom)145; [1988]172ITR373(Bom)

section 12(1) of the Income-tax Act, 1961, as it stood at the material time (before amendment by the Finance Act, 1972) referred only to income derived from the voluntary contributions and not to the voluntary contributions themselves, and

Straw Products Ltd. Vs. Income-tax Officer, Bhopal and ors.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Indian Income-tax Act, 1922 - Sections 2(2), 10(1), 10(2), 10(5), 19(2) and 60A; Taxation Laws (Extension to Merged States and Amendment) Act, 1949 - Sections 3, 6, 6(1) and 7; Taxation Laws (Merged States) (Removal of Difficulties) Order, 1949; Income-tax Act, 1961 - Sections 298(2); Constitution of India - Article 14; Indian Income-tax Act, 1886; Removal of Difficulties Order, 1949; Finance Act 1950 - Sections 12; Taxation Laws (Part B States) (Removal of Difficulties) Order, 1950; Removal of Difficulties (Amendment) Order, 1950; ;Hyderabad Income-tax Act; Removal of Difficulties Order, 1956; Taxation Laws (Merged States) (Removal of Difficulties) (Amendment) Order, 1962; Taxation Laws (Extension to Merged States) Ordinance, 1949

Reported in : AIR1968SC579; 1968(16)BLJR254; [1968]68ITR227(SC); [1968]2SCR1

that case that the notification No. S.R.O. 1139 dated May 8, 1956 issued under s. 12 of the Finance Act of 1950, which was couched in terms substantially the same as s. 6 of Act 67 of 1949, … application of the former Act can be exercised only under sub-s. (2) of s. 298 of the Income-tax Act, 1961; and (5) that the orders of assessment made by the Income-tax authorities or intended to be made by … had arisen, the Court proceeded to observe at p. 327 : 'Furthermore, the true scope and effect of section 12 seems to be that it is for the Central Government to determine if any difficulty has arisen and

Goods Agro Chemicals and ors. Vs. Assistant Collector of Customs

Court : Kerala

Subject : ExciseConstitution

Acts : Central Excise Tariff Act; Customs Act, 1962 - Sections 2(15), 12, 12(1) and 28; Finance Act, 1961 - Sections 13; Customs Tariff Act, 1975 - Sections 2, 3 and 3(1); ;Central Excise Act, 1944; Finance (Amendment) Act, 1981; Constitution of India - Article 226

Reported in : 1986(10)ECC178; 1986LC218(Kerala); 1987(32)ELT565(Ker)

the various Finance Acts.13. Section 13 of the Finance Act 14 of 1961 inserted Item 26A with effect from 1-4-1961 reading thus :-'26A. Copper and … to take the view that 'copper scrap is copper in crude form'. Subsequently the 1981 amendment of the Finance Act set at rest all conflict by inserting a new specific provision 'copper scrap and waste'. This, it is … Act of 1962 defines in Section 2(15) 'duty' to mean a duty of customs leviable under the Act. Section 12(1) of the Act provided for levy of certain duties and fixed the rates as may be specified under

Director of Income-tax (Exemptions) Vs. Sheth Mafatlal Gagalbhai Found ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 11, 11(1), 11(2), 11(4A), 11(5), 12, 13, 13(1), 161(1A), 164, 164(1) and 164(2); Finance Act, 1984; Direct Tax Laws (Amendment) Act, 1987; Direct Tax Laws (Amendment) Act, 1989

Reported in : [2001]249ITR533(Bom)

as if it is the income of the association of persons. Therefore, a proviso was inserted by the Finance Act of 1984 with effect from April 1, 1985, under which in cases where the whole or any part … appeals are disposed of with no order as to costs. 10. Issuance of certified copy expedited. Income Tax Act, 1961 - Sections 164(2), 11(5) and 13(1)(d)(iii) - Income from property held for charitable and religious purposes - Income … shall be charged on so much of the relevant income as is not exempt under Section 11 or Section 12, as if the relevant income not so exempt were the income of an association of persons : Provided

Commercial Motors Finance Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Lucknow

Subject : Direct Taxation

Reported in : (2002)82ITD176Luck

The AO found that in the final accounts filed along with the return of income under the IT Act, 1961, the finance charges were nothing but interest charges on the money financed to the hire and therefore, these … requiring the assessee to file the return "within the period not being less than 30 days". By the Finance Act (No. 2) of 1996, these words have been omitted and the amended provisions of Section 148 as it … 2nd Feb., 1999, for the asst. yr. 1994-95. ITA Nos. 7 to 12 (six appeals) have been filed by the other assessee, namely, M/s Kailash