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Madan Mohan Lall Shriram (P.) Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1985)12ITD21(Delhi)

of such dividends.Note : This topic was originally dealt with by Section 85A which was inserted by the Finance Act, 1965, with effect from 1-4-1965. Section 80M was inserted in place of Section 85A which was deleted, by the … contention, reliance was placed upon the decision of the Supreme Court in CIT v. Indian Bank Ltd. [1965] 56 ITR 77 and a few High Courts decisions, which it is not necessary for us to refer to

M. Babu Rao and ors. Vs. Deputy Registrar of Co-operative Societies/Of ...

Court : Andhra Pradesh

Subject : BankingTrusts and Societies

Acts : Andhra Pradesh Co-operative Societies Act, 1964 - Sections 6, 9A, 9B, 9C, 12A, 13, 15A, 16, 17, 19, 21, 21A, 21AA, 23, 32(3), 32, 34, 34A, 56, 58, 60, 61, 61(1), 64, 66, 70, 70(2), 71, 71(1), 71(2), 71(3), 73, 76, 77, 78, 80, 115A, 115B, 117, 121 and 133; Andhra Pradesh Co-operative Societies (Amendment) Act, 1970; Andhra Pradesh Co-operative Societies Rules; Andhra Pradesh Mutually Aided Co-operative Societies Act, 1995 - Sections 36, 36A and 37; Andhra Pradesh Protection of Depositors and Financial Establishments Act, 1999; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969; Banking Companies Act, 1949; Banking Laws (Amendment) Act, 1983 - Sections 42; Banking Laws (Application to Co-operative Societies) Act, 1965; Banking Regulation Act, 1949 - Sections 2, 3,

Reported in : 2005(4)ALD582; 2005(4)ALT327; [2005]126CompCas708(AP); [2005]63SCL339(AP)

society, except in the manner and to the extent specified in Part V.17. Act 36 of 1957 repealed Section 56 as initially enacted. Act 23 of 1965 inserted Section 56 into the Act as a separate Part V … notice was issued to the Union of India in the Ministry of Finance, Department of Economic Affairs (Banking Division). Sri M. Ratna Reddy, learned counsel … to Banking Companies. The Amendment Act 23 of 1965 known as the Banking Laws (Application to Co-operative Societies) Act, 1965 made applicable the Banking Companies Act, 1949, with certain modifications, to a defined and specified class of Co-operative

Greater Bombay Co-op. Bank Ltd. Vs. United Yarn Tex. Pvt. Ltd. and ors ...

Court : Supreme Court of India

Subject : BankingConstitution

Acts : Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2, 3, 17, 18, 31 and 34; Recovery of Debts due to Banks and Financial Institutions (Amendment) Act, 1965 - Sections 56; Maharashtra Co-operative Societies Act, 1960 - Sections 2(6), 2(10), 2(20), 18A, 36, 43, 44, 50, 55, 64, 72, 73, 78, 81, 83, 84, 88, 91, 91(1), 92, 94, 95, 97, 98, 101, 101(1), 102, 103, 104, 105, 107, 156 and 161; The Multi-State Co-operative Societies Act, 2002 - Sections 3, 22, 39, 40, 74, 83, 84, 99 and 101; Andhra Pradesh Co-operative Societies Act, 1964 - Sections 2, 9, 19, 30A, 31, 31A, 35, 47, 47(2), 50, 51, 52, 61, 61(1), 62, 63, 64, 65, 70, 70(2), 71, 71(1), 71(2), 72, 73, 75, 76 and 77; Banking Regulation Act, 1949 - Sections 2, 3, 5, 6, 20(2), 56 and 56(1); Banking Regulation (

Reported in : AIR2007SC1584; 2007(3)ALT1(SC); [2007]137CompCas63(SC); JT2007(5)SC201; 2007(3)KLT302(SC); 2007(3)MhLj434; 2007(5)SCALE366; (2007)6SCC236; 2007AIRSCW2325; 2007(3)AIRKarR406

can give loans to the public. He submitted that prior to the Banking Laws (Application to Co-operative Societies) Act, 1965 (Act 23 of 1965), Co-operative Societies doing banking were not subject to regulation of their business of banking … by a co-operative bank for recovery of its debts. The Division Bench on consideration of the provisions of Section 56 of the Banking Regulation Act, 1949 [ for short 'the BR Act'] came to the conclusion that 'Co- … context of enactment of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. Under the Co- operative Societies Acts, there is a

income-tax Appellate Tribunal Vs. B. Hill and Co. (P.) Ltd.

Court : Allahabad

Subject : Direct Taxation

Acts : Finance Act, 1965 - Sections 2(5); Finance Act, 1966 - Sections 2(5); Finance Act, 1967 - Sections 2(4); Finance Act, 1964; Finance Act, 1968; Finance Act, 1969; Income Tax Act, 1961 - Sections 2(18), 31, 37, 108 and 256

Reported in : (1982)29CTR(All)301; [1983]142ITR185(All)

of goods by the assessee and accordingly not entitled to tax concession provided under Section 2(5)(a)(i) of the Finance Act, 1965 (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right … assessment year 1967-68 he allowed Rs. 11,277 under the head 'Current repairs' and disallowed the balance of Rs. 56,306. He held that this part of the expenditure was capital in nature. The AAC as well as the

Punjab Distilling Industries Ltd. Vs. Commissioner of Income-tax, Punj ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Indian Income-tax Act, 1922 - Sections 2, 2(6A), 12(1A), 16(2), 16(3) and 23A(1); Indian Companies Act, 1913 - Sections 55(1), 56, 60, 61, 61(4), 62 and 100 to 103; Finance Act, 1956; Indian Income-tax (Amendment) Act, 1939 - Sections 2(6A); Government of India Act, 1935 - Sections 100; Income-tax Act, 1961 - Sections 2(22) and 8; Company Law; Income-tax Law

Reported in : [1965]3SCR1; 1965AIR1862

Matched in: Citation [1965]3SCR1; 1965AIR1862

Lloyds Insulations (India) Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2002)80ITD465(Delhi)

ITR 322 (SC), wherein it has been held that levy of such excise duty under Section 80 of Finance Act, 1965, was different from the levy of excise duty under Central Excises and Salt Act, 1944 fin short Excise … similar view has been expressed by the Tribunal in the case of Bachhrai Factories Ltd. v.Asstt. C1T (1996) 56 ITD 225 (Bom).7. We have also gone through the case law referred to by the learned counsel for

Hajee K. Assainar Vs. Commissioner of Income-tax, KeralA.

Court : Kerala

Subject : Direct Taxation

Reported in : [1971]81ITR423(Ker)

the provisions of section 271(1)(c) of the Act as they stand after the amendments effected therein by the Finance Act, 1964. By the said amendment the word 'deliberately', which originally occurred in clause (c) of sub-section (1), was … prescient case which culminated in the order passed by the Inspection Assistant Commissioner of Income-tax on February 20, 1965. It is no doubt true that if a statute deals merely with matters of procedure and does not

Aminchand Payarilal Vs. Income-tax Officer and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 86; ;Finance Act, 1965 - Section 68 and 68(6)

Reported in : [1973]87ITR305(Cal)

orders and directed the Income-tax Officer to make fresh assessments according to law.3. By Section 68 of the Finance Act, 1965, a scheme for voluntary disclosure of income was introduced which provided that where any person made a declaration … exclude any amount included in such disclosure petitions and on which taxes have been paid as provided in Section 56. From the correspondence it appears that both the petitioner and the Income-tax Officer seem to be acting under

Venugram Multipurpose Co Operative Credit Society Vs. The Income-Tax O ...

Court : Karnataka Dharwad

Subject : Direct Taxation

to them in Part V of the Banking Regulation Act, 1949 (10 of 1949); 2 Ins. By the Finance Act, 2006 (21 of 2006), sec.19 (w.e.f. 1-4-2007). Earlier sub-section (4) was omitted by the Finance Act, 1969 (14 … to "commencement of this Act" as references to commencement of the Banking Laws (Application to Co- operative Societies) Act, 1965 (23 of 1965); construed (b) (c) the words and figures "the in Sec. 2, Companies Act, 1956 (1 … Part V of the Banking Regulation Act, 1949, provides for application of the Act to Co- operative Banks. Section 56, reads thus:1. PART V APPLICATION OF THE ACT TO CO-OPERATIVE BANKS56 Act to apply to co-operative societies subject

Jerome (Appellant) Vs. Kelly (Her Majesty's Inspector of Taxes (Respon ...

Court : House of Lords

Subject : Land Acquisition

trusts has been part of the architecture of the capital gains tax since it was introduced by the Finance Act 1965: see sections 22(5) and paragraph 13(1) of Schedule 7. Indeed, goes back even further, being derived from similar … of the architecture of the capital gains tax since it was introduced by the Finance Act 1965: see sections 22(5) and paragraph 13(1) of Schedule 7. Indeed, goes back even further, being derived from similar provisions in … result. It was introduced into the capital gains tax legislation by section 56(2) and paragraph 10 of Schedule 10 of the Finance Act 1971. That