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Trilok Chand JaIn Vs. Dagi Ram Pindi Lall and ors. Overruled

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 54; Income Tax Act, 1961 - Sections 137; General Clauses Act, 1897 - Sections 6

Reported in : ILR1985Delhi331; [1974]95ITR34(Delhi)

provisions continued to be in force till April 1, 1964, on which date, by section 32 of the Finance Act No. 5 of 1964, section 137 was omitted, and by section 33 thereof, section 138 was substituted by … opinion of the Full Bench relate to the scope and effect of the provisions in sections 54 and 59B of the Indian Income-tax Act, 1922, and sections 137 and 138 of the Income-tax Act, 1961.(2) The facts

Southern Technologies Ltd. Vs. Joint Commnr. of Income Tax, Coimbatore

Court : Supreme Court of India

Subject : BankingDirect Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 14 to 59 and 145; Companies Act, 1956 - Sections 3, 209(3), 211 and 591; Reserve Bank of India Act, 1934 - Sections 45I, 45IA, 45IC, 45IC(1), 45JA, 45JA(1), 45K(1), 45K(3) and 45Q; Hire-Purchase Act, 1972 - Sections 2; Industrial Development Bank of India Act, 1964 - Sections 2; Finance Act; Constitution of India - Articles 14, 19(1) and 19(6); Income Tax Act, 1922 - Sections 10(2)

Reported in : [2010]153CompCas674(SC); (2010)228CTR(SC)440; [2010]320ITR577(SC); JT2010(1)SC14; 2010(1)SCALE329; (2010)2SCC548; [2010]187TAXMAN346(SC); 2010(1)LC387(SC)

/ Disclosure and has nothing to do with computation of taxable income under the IT Act.Scope of the Finance Act No. 2 of 2001 w.e.f. 1.4.1989 insofar as Section 36(1)(vii) is concerned25. Prior to 1.4.1989, the law, as … specified in Sub-clauses (i) to(xviii) of Clause (c) of Section 2 of the Industrial Development Bank of India Act, 1964 (18 of 1964);(b) the purchase, or sale of any goods (other than securities) or the providing of any … how the taxable income should be arrived at vide Sections 14 to 59. It is not an assessment Section. Section 145 helps to arrive at

Ahmed Ibrahim Sahigra Dhoraji Vs. Commissioner of Wealth Tax, Gujarat

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 17, 16(3), 27 and 29(1); Finance Act, 1965 - Sections 68, 68(1), 68(2), 68(3), 68(4), 68(5), 68(6) and 68(7); Income Tax Act, 1922 - Sections 3; Income Tax Act, 1961 - Sections 4; Excess Profits Tax Act, 1940; Business Profits Tax Act, 1947; Companies (Profits) Surtax Act, 1964; Finance Act, 1951; Finance Act, 1953

Reported in : AIR1981SC1562; (1981)21CTR(SC)356; [1981]129ITR314(SC); 1981(1)SCALE694; (1981)3SCC77; [1981]3SCR402

respect of income-tax payable on the concealed income disclosed by the assessee pursuant to Section 68 of the Finance Act, 1965 is deductible under Section 2(m) of the Wealth-tax Act, 1957, in computing the net wealth of the … in computing the net wealth of the assessee for the assessment years 1959-60, 1960-61, 1961-62, 1962-63, 1963-64 and 1964-65.(2) Whether the Tribunal was right in holding that the liability to pay tax on the amount disclosed under

Tarachand Koyal Vs. Maheswar Choudhury

Court : Orissa

Subject : Direct Taxation

Acts : Income Tax Act, 1922 - Sections 54; Income Tax Act, 1961 - Sections 137

Reported in : [1974]96ITR133(Orissa)

1961 Act was to be found in Section 137(1), This section was omitted from the statute by the Finance Act of 1964 with effect from April 1, 1964.5. Under the 1961 Act, disclosure of information respecting assesses was … '13. When the matter came up for examination in the case of Chinnammal v. Kuwidhini, [1966] 61 I.T.R. 597 (Mad.) the learned judge approved the earlier decision referred to above and was not prepared to agree with

Glaxo Laboratories (India) Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)18ITD226(Mum.)

of benefit, amenity or perquisite]. We may elucidate by referring to legislative changes.Section 40(c)(iii), as amended by the Finance Act, 1964, put a ceiling of one-fifth of salary, on all expenditure on employees resulting in benefit, amenity or perquisite. … as a perquisite. (p. 311) 49. The assessee relied on CGT v. N.S. Getti Chettiar [1971] 82 ITR 599 where the Supreme Court approved the following observations of Craies on Statute Law, Sixth edn. at p. 213

Controller of Estate Duty Vs. Smt. Ila Das and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Estate Duty Act, 1953 - Sections 58, 59 and 62

Reported in : (1981)25CTR(Cal)16,[1981]132ITR720(Cal)

year from the end of the year of assessment. The section was amended by Section 18 of the Finance Act, 1956, extending this period of limitation to two years from the end of the assessment year. The amendment … the Appellate Controller upholding the said-order was passed on the 2nd June, 1964, and the Tribu-nal, in this case, disposed of the appeal on the … out from the assessment, required to be included in the estate and charged to duty. A notice under Section 59 of the E.D. Act as amended by the E.D. (Amendment) Act, 1958, was accordingly issued on the 16th

M. Ethurajan Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1998)65ITD87(Mad.)

It was pointed out that in view of the amendment in the provisions of section 271(1)(c) by the Finance Act, 1964 and the insertion of Explanation 1 by the Finance Act, 1975 the ratio of the said Supreme Court

A.S.K. Brothers Ltd. Vs. Dy. Cit/Dy. Cit V. A.S.K. Brothers

Court : Income Tax Appellate Tribunal ITAT

Subject : Land Acquisition

Reported in : (2001)70TTJ(Bang.)673

for any financial year commencing on or after 1st day of April, 1962. But section 53 of the Finance Act, 1964 (5 of 1964) enacted that notwithstanding anything contained in section 13 of the Finance (No. 20 Act, 1962), … pp. 15 and 16 of his order.He considered that the Atria Hotel was started in January, 1994 with 59 double rooms and two suites; the number of double rooms and suites were increased in the course of

Badridas Keshawprasad Vs. Deputy Cit

Court : Income Tax Appellate Tribunal ITAT West Bengal

Subject : Direct Taxation

is leviable. In this connection the Explanation to section 271(1)(c) of the Income Tax Act inserted by the Finance Act, 1964 which reads as follows : "ExplanationWhere the total income returned by any person is less than eighty per … judgment of Desai, J. In Wood-Polymer Ltd. In re. & Bengal Hotels Ltd., In re. (1977) 47 Comp.Cas. 597 (Guj.) where the learned judge refused to accord sanction to the amalgamation of companies as it would lead

Badridas Keshawprasad Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

Subject : Land Acquisition

and is leviable.In this connection the Explanation to section 271(1)(c) of the IT. Act was inserted by the Finance Act, 1964 which reads as follows : "Explanation - Where the total income returned by any person is less than … of Desai, J. In Wood-Polymer Ltd. In re. & Bengal Hotels Ltd., In re. [1977] 47 Comp. Cas. 597 (Guj.) where the learned judge refused to accord sanction to the amalgamation of companies as it would lead