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Smt. P. Balammal, Karur Vs. the Controller of Estate Duty, Madras

Court : Chennai

Subject : Other Taxes

Acts : Estate Duty Act, 1953 - Sections 36 and 44; Voluntary Disclosure of Income and Wealth Act, 1976; Income Tax Act, 1922; Income Tax Act 1961; Finance Act 1965 - Sections 68; Wealth Ordinance Act, 1975

Reported in : (2004)189CTR(Mad)147

mean that he was not liable to pay tax. The Court also held that Section 68 of the Finance Act 1965 under which the declaration was made prescribed the procedure for assessment of the concealed income but the liability … of the Estate Duty Act deals with the deductions in determining the principal value of the estate and Section 44 of the said Act deals with the deduction of 'debts and encumbrances'. There is no dispute that if

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

'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 … cover the validity of the section itself. Furthermore, the terms of s. 37 of the Payment of Bonus Act, 1965 are different and the Bonus Act is not a taxing law. 27. In the result the appeal fails … sense of computation of income and there is in our judgment no ground for holding that when by section 44, it is declared that the partners or members of the association shall be jointly and severally liable to

In Re Lynall, Decd.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1970]75ITR564(Cal)

prescribed for estate duty purpose by section 7(5) of the Finance Act, 1894, has been adopted by the Finance Act, 1965, section 44(1), for the purposes of capital gains tax, where the chargeable disposition may be made many years after

Hinchcliffe (inspector of Taxes) Vs. Crabtree.

Court : Kolkata

Subject : Direct Taxation

Reported in : [1971]81ITR677(Cal)

on them.The method of valuation with which we are concerned is set out in section 44 of the Finance Act, 1965, and the prima facie valuation is by sub-section (1) stated thus : 'Subject to the following subsections, in

Commissioner of Gift-tax, Gujarat Vs. Executors and Trustees of the Es ...

Court : Gujarat

Subject : Direct Taxation

Acts : Gift Tax Act, 1958 - Sections 3, 6, 6(3), 15(3) and 46; ;Wealth Tax Act, 1957 - Sections 3

Reported in : [1975]100ITR447(Guj)

were not published or communicated to the stock exchange. Under section 44, sub-section (1), clause (3) of the Finance Act, 1965, except where in consequence of special circumstances price so quoted were by themselves not a proper measure of

Shashirkumar Bajaj Vs. First Wealth-tax Officer.

Court : Income Tax Appellate Tribunal ITAT Nagpur

Subject : Land Acquisition

Reported in : (1990)33ITD93(Nag.)

accessible basis for valuing quotes shares.29. We may notice in this regard section 44(1) of the U. K. Finance Act, 1965, which prescribes the general method of valuation of assets (for purposes of capital gains tax), and which reads

Grays Timber Products Ltd Vs. Revenue and Customs (Scotland)

Court : UK Supreme Court

Subject : Land Acquisition

and at arm's length." The definition in section 272 can be traced back to section 44 of the Finance Act 1965 and from there to the estate duty valuation provisions in section 7(5) of the Finance Act 1894. Both

Commissioner of Wealth-tax Vs. Nirajkumar Bajaj (Huf)

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28; Wealth Tax Act, 1957 - Sections 27(1) and (3)

Reported in : [1992]196ITR380(Bom)

as is granted in the Unite kingdom to the London stock Exchange under section 44(3) of the U.K. Finance Act, 1965. 5. The Central Board of Revenue has issued a Circular No. 3(WT) of 1957, dated September 28, 1957,

P. Paliwal and ors. Vs. Hindustan Zinc Limited and ors.

Court : Rajasthan

Subject : Service

the company was formed as well as considered the provisions of Metal Corporation of India (Acquisition of Undertaking) Act, 1965 and Metal Corporation of India (Acquisition of Undertaking) Act, 1966 and Metal Corporation (Nationalization and Misc. Provisions) Act, … by transfer of a Government owned corporation. It is an autonomous body. 44. The facts of the present case already considered above are quite different … of a Zinc smelter near Udaipur for producing electrolytic grade zinc and bye- products. However, for want of finances the Corporation was not able to complete the project it had undertaken. Construction work had come to a … respondent-HZL and consequently, the respondent-HZL is no longer Public Sector Undertaking under Section 617 of the Companies Act, 1956. This order has been passed by

J.K.K. Angappan and Bros. Vs. Commissioner of Income-tax

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 220(2); Finance Act, 1965 - Sections 68; Finance (No. 2) Act, 1967 - Sections 1, 46 and 156

Reported in : [1973]91ITR513(Mad)

Ramanujam, J. 1. The petitioners made a voluntary disclosure of income under Section 68 of the Finance Act, 1965. The tax payable on the income so voluntarily disclosed amounted to Rs. 15,55,500. The said tax was due … Finance (No. 2) Act, 1967. (2) Save as otherwise provided in this Act, Sections 2 to 36 and 44 to 46 shall be deemed to have come into force on the 1st day of April, 1967.' '