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S.C.N. Chowdhury Vs. Commissioner of Income-tax
Kolkata
Jan-15-1980
Direct Taxation
Wealth Tax Act, 1957 - Section 17; ;Finance Act, 1965 - Section 68
[1982]136ITR542(Cal)
assessee had made a disclosure of Rs, 2,28,000 under the Voluntary Disclosure Scheme under Section 68 of the Finance Act, 1965, and paid tax of Rs. 1,69,800 on 25th March, 1965. The said ITO was also informed that the … the said letter dated 25th March, 1965. On the basis of that information the WTO issued notices under Section 17 of the W.T. Act, 1957, for the said six assessment years and in response to such notices the
Tag this Judgment! AI Brief & AskC.K. Babu Naidu and C.K. Sundara Raja Naidu Vs. Wealth-tax Officer and ...
Kerala
May-25-1971
Direct Taxation
Finance Act, 1965 - Sections 68; Wealth Tax Act, 1957 - Sections 2, 3 and 17
[1971]82ITR410(Ker)
facts and raise a common question of law. They are, therefore, disposed of by this single judgment.2. The finance Act, 1965, which was published in the Gazette of India on 11th May, 1965, provided a scheme in Section 68 … above disclosures, the Wealth-tax Officer, Calicut, who is the first respondent in both these cases, took proceedings under Section 17 of the Wealth-tax Act, 1957, in respect of the assessment years to which the disclosed income was attributed
Tag this Judgment! AI Brief & AskT.S. Balaram, Income Tax Officer, Company Circle Iv, Bombay Vs. Volkar ...
Supreme Court of India
Aug-05-1971
Direct Taxation
Income-tax Act, 1961 - Sections 2(31), 113, 154 and 154(1); Income Tax Act, 1922 - Sections 2(9), 17(1) and 35; Finance Act, 1965; Constitution of India - Article 226
AIR1971SC2204; [1971]82ITR50(SC); (1971)2SCC526; [1972]1SCR30
but that section has now been omitted with effect from April 1, 1965 as a result of the Finance Act, 1965.9. From what has been said above, it is clear that the question whether Section 17(1) of the
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Bhawanidas Binani Vs. Commissioner of Wealth-tax
Mumbai
Jun-27-1978
Direct Taxation
Wealth Tax Act, 1957 - Sections 2; Finance Act, 1965 - Sections 68; Income Tax Act, 1961
[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 … 1965), of an income of Rs. 16,16,193. He made a subsequent disclosure on 19th May, 1965 (though dated 17th May, 1965), of a further income of Rs. 1,75,000. Thus, the total disclosure was in the aggregate amount
Tag this Judgment! AI Brief & AskRajasthan Financial Corporation Vs. Commissioner of Income-tax
Rajasthan
May-15-1984
Direct Taxation
Finance Act, 1964; Finance Act, 1965; Companies Act, 1956 - Sections 85; Income Tax Act, 1961 - Sections 2(17), 2(26) and 154
[1987]163ITR278(Raj)
allowed was to be reduced by 7.5% on the dividend other than dividend on preference shares. In the Finance Act, 1965, First Schedule, Part I. Paragraph F, income-tax at the rate of 80% was prescribed on the whole of … regard, Shri Agrawal has invited our attention to the notification dated January 17, 1955, issued by the Government of Rajasthan in exercise of the powers … Jaipur Bench, Jaipur (hereinafter referred to as 'the Tribunal'), by its order dated February 19, 1972, passed under Section 256(1) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act'), has referred the following questions arising
Tag this Judgment! AI Brief & AskPrem Cables Pvt. Ltd. Vs. Assistant Collector (Principal Appraiser) Cu ...
Rajasthan
Sep-06-1978
ExciseCustoms
Indian Tariff Act, 1936 - Sections 2, 2A, 2A(1) and 2A(2); Customs Act, 1962 - Sections 2, 12(1), 25, 25(1), 27, 27(1), 128 and 131; Finance Act, 1965 - Sections 26(1), 76(1) and 77; Constitution of India (Fifteenth Amendment) Act, 1963 - Sections 8; Sea Customs Act - Sections 23; Finance Act, 1964 - Sections 57(1); Central Excise Act, 1944; Finance Act, 1960; Indian Tariff Act, 1934; Central Excise (Conversion to Metric Units) Act, 1968; Finance Act, 1969; Evidence Act - Sections 106; Limitation Act, 1963 - Sections 17(1); Limitation Act, 1908 - Schedule - Articles 24, 62 and 96; Constitution of India - Articles 19, 32, 136, 226 and 226(1A); Contract Act - Sections 72; Orissa Sales Tax Act - Sections 4, 14 and 19; Uttar Pradesh Sales Tax Act; Code of Civil Procedure (CPC) - Sectio
1981(8)ELT440(Raj); 1978(11)WLN481
goods were further chargeable to regulatory duty of 10% then in force levied under Section 77 of the Finance Act, 1965. The duty @ Rs. 360 per M.T. was levied by the Central Government in exercise of the powers … it cannot be said that the suit would have become barred on that date. Mr. Parakh referred to Section 17(l)(c) of the Limitation Act, 1963 which will, for the sake of brevity, hereinafter be referred to as the
Tag this Judgment! AI Brief & AskAhmed Ibrahim Sahigra Dhoraji Vs. Commissioner of Wealth Tax, Gujarat
Supreme Court of India
Apr-07-1981
Direct Taxation
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
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 assessee … that Section 68 created a fresh charge is incompatible with the foundation of the very reassessment proceedings under Section 17 of the Act. The basis of these proceedings is the information which the Wealth-tax Officer acquired from the
Tag this Judgment! AI Brief & AskCommissioner of Income-tax Vs. Calcutta Steel Co. Ltd.
Kolkata
Jan-24-1985
Direct Taxation
Income Tax Act, 1961 - Section 154; ;Finance (No. 2) Act, 1967 - Section 2(4); ;Income Tax (Determination of Export Profits) (No. 2) Rules, 1967
(1985)48CTR(Cal)146,[1985]153ITR488(Cal)
but that section has now been omitted with effect from April 1, 1965, as a result of the Finance Act, 1965. From what has been said above, it is clear that the question whether Section 17(1) of the Indian
Tag this Judgment! AI Brief & AskCommissioner of Wealth Tax, Amritsar Vs. Suresh Seth Overruled
Supreme Court of India
Apr-07-1981
Direct Taxation
Wealth Tax Act, 1957 - Sections 14, 14(1), 14(2), 14(3), 15, 16, 17, 18, 18(1) and 27(1); Wealth Tax (Amendment) Act, 1964 - Sections 18; Finance Act, 1969; Constitution of India - Articles 20(1) and 136; Indian Mines Act, 1923 - Sections 39; Factories Act, 1948; General Clauses Act - Sections 6
AIR1981SC1106; (1981)21CTR(SC)349; [1981]129ITR328(SC); 1981(1)SCALE729; (1981)2SCC790; [1981]3SCR419; 1981(13)LC555(SC)
to maximum of 50% of the wealth-tax payable under Section 18(1)(a) before its amendments on 1.4.69 by the Finance Act, 1969 : Rs. 115/-(ii) For the period from 1.4.69 to 18.3.71 : Penalty at 1/2% of the net … net wealth which he is required to furnish under Sub-section (1) or Sub-section (2) of Section 14 or Section 17 or has without reasonable cause failed to furnish it within the time allowed and in the manner required; … 18(1)(a) of the Wealth-tax Act, 1957, for the assessment years 1964-65 and 1965-66 respectively ?3. The assessee, the respondent in these appeals filed his wealth-tax
Tag this Judgment! AI Brief & AskCommissioner of Wealth-tax Vs. Bansidhar Poddar
Kolkata
Apr-20-1977
Direct Taxation
Finance Act, 1965 - Section 68; ;Wealth-tax Act, 1957 - Section 2; ;Income Tax Act
[1978]112ITR957(Cal)
necessary first to consider the provisions of Section 4 of the Income-tax Act, 1961, sectioa 68 of the Finance Act, 1965, Section 2(m) of the Wealth-tax Act, 1957, and the decision of the Supreme Court in the case of Kesoram … disclosed under the said section. On the basis of such disclosures the Wealth-tax Officer, Calicut, initiated proceedings under Section 17 of the Wealth-tax Act. The petitioners claimed before the Wealth-tax Officer that the whole amount of disclosed income
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