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Commissioner of Wealth-tax Vs. Girdhari Lal
Delhi
May-02-1974
Direct Taxation
Finance Act, 1965 - Sections 68, 68(1) and 68(3); Wealth Tax Act, 1957 - Sections 2; Income Tax Act, 1961; Income Tax Act, 1922
[1975]99ITR79(Delhi)
assessed of the income-tax paid by the firm on the amounts disclosed voluntarily under Section 68 of the Finance Act, 1965, is a debt under Section 2(m) of the Wealth-tax Act, 1957, on the dates of valuation for the
Tag this Judgment! AI Brief & AskCommissioner of Wealth-tax, Gujarat-i Vs. Ahmed Ibrahim Sahigara
Gujarat
Dec-21-1972
Excise
Income Tax Act 1961 - Sections 4; Finance Act, 1965 - Sections 68; ;Wealth Tax Act, 1957 - Sections 2
[1974]93ITR288(Guj)
reference raises a short but interesting question of law relating to the construction of section 68 of the Finance Act, 1965. The question is not free from difficulty and it has caused us some anxiety to reach our conclusion. … conclusion. To appreciate the question, it is necessary to state a few facts giving rise to the reference. 2. The assessee is an individual and during the account years relevant to the assessment years 1959-60 to 1964-65,
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
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Commissioner of Wealth-tax Vs. Raj Paul Chawla
Delhi
Jul-18-1978
Direct Taxation
Wealth Tax Act, 1957 - Sections 2; Finance Act, 1965 - Sections 68
[1979]117ITR574(Delhi)
was entitled to deduction of income-tax payable by him on the income disclosed under Section 68 of the Finance Act, 1965?'2. The assessse in question, Shri Raj Paul Chawla, was a partner in the firm, M/s. Diwan Chand Chawla
Tag this Judgment! AI Brief & AskBhawanidas 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
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
Tag this Judgment! AI Brief & AskAhmedabad Manufacturing and Calico Printing Co. Ltd. Vs. Commissioner ...
Gujarat
May-06-1981
Direct Taxation
Income Tax Act, 1961 - Sections 256(2) and 269A; Finance Act, 1961 - Sections 2(5)(1); Finance (Amendment) Act, 1964 - Sections 5; Finance (Amendment) Act, 1965 - Sections 2(5); Income Tax (Determination of Export Profits) Rules, 1964 - Rule 2; Income Tax (Determination of Export Profits)(Amendment) Rules, 1964 - Rule 2
(1981)25CTR(Guj)263
s. 2(5)(a)(i) of the Finance Act, 1964, for the assessment year 1964-65 and under s. 2(5)(a)(i) of the Finance Act, 1965, for the assessment year 1965-66. Both these provisions are in identical terms. The question which is raised in … would uphold the finding of the revenue authorities that the assessee is not entitled to any relief under section 2(5)(i) of the Finance Act, 1963.' 7. The learned Judicial Member agreed with the conclusions reached by the learned
Tag this Judgment! AI Brief & Askincome-tax Officer, a-ward, Indore Vs. Gwalior Rayon Silk Manufacturin ...
Supreme Court of India
Sep-18-1975
Direct Taxation
Finance Act, 1965 - Sections 3; Income Tax Act, 1961 - Sections 220(2) and 220(3)
[1975]101ITR457(SC)
was granted by the Income-tax Officer, Sub-section (2) of Section 220 of the Act was amended by the Finance Act, 1965, by which the rate of interest was increased from 4% to 6% per annum. In view of this
Tag this Judgment! AI Brief & AskGriffon Laboratories (P.) Ltd. Vs. Commissioner of Income-tax
Kolkata
Mar-15-1978
Direct Taxation
Finance Act, 1966 - Section 2(7); ;Finance Act, 1965; ;Income Tax Act, 1961 - Section 147
[1979]119ITR145(Cal)
return our answer to question No. 1 in the affirmative and against the assessee.10. Now, briefly speaking, the Finance Act, 1965, provides that the concessional rate of tax is payable by a company which is wholly or mainly engaged … Deb, J. 1. In this reference under Section 256(1) of the I.T. Act, 1961, we are concerned with the following questions of law :' 1, Whether, … Deb, J. 1. In this reference under Section 256(1) of the I.T. Act, 1961, we are concerned with the following questions
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 … M.T. is a basic duty nor is there any exemption provided in respect of the duty leviable under Section 2-A of the Act. As regards the question of. limitation, the contention of the petitioner is that Section 27
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