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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
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
Tag this Judgment! AI Brief & AskSmt. P. Balammal, Karur Vs. the Controller of Estate Duty, Madras
Chennai
Aug-12-2002
Other Taxes
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
(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
Tag this Judgment! AI Brief & Ask18-section briefs on any result in this list
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.
Tag this Judgment! AI Brief & AskJ.K.K. Angappan and Bros. Vs. Commissioner of Income-tax
Chennai
Dec-05-1972
Direct Taxation
Income Tax Act, 1961 - Sections 220(2); Finance Act, 1965 - Sections 68; Finance (No. 2) Act, 1967 - Sections 1, 46 and 156
[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
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 & AskCommissioner 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 & AskJamnaprasad Kanhaiyalal Vs. Commissioner of Income Tax, M.P., Bhopal
Supreme Court of India
May-08-1981
Direct Taxation
Income Tax Act, 1961 - Sections 68, 139, 256 and 257; Voluntary Disclosures of Income and Wealth Act, 1976 - Sections 18; Indian Income Tax Act, 1922; Finance Act, 1965 - Sections 24, 24(1), 24(3), 24(6) and 24(8)
AIR1981SC1759; (1981)23CTR(SC)146; [1981]130ITR244(SC); (1981)3SCC441; [1981]3SCR849
Tax shall be entitled to his costs of the reference. Direct Taxation - disclosure - Section 24 of Finance Act, 1965, Section 68 of Income Tax Act, 1961 and Section 18 of Voluntary Disclosures Of Income and Wealth Act, 1976 -
Tag this Judgment! AI Brief & AskRattan Lal and ors. Vs. Income Tax Officer Etc. Overruled
Delhi
Mar-01-1974
Direct Taxation
Income Tax Act, 1961 - Sections 68; Finance Act, 1965 - Sections 24
ILR1974Delhi621; [1975]98ITR681(Delhi)
as to costs. Income Tax Act (1961) - Sections 68 & 139 - Finance (No 2) Act-XV of 1965, Section 24 - Declaration of certain sums made in pursuance of Voluntary Disclosure Scheme - said sums standing as … three creditors or depositors, which had been duly declared by them under the voluntary disclosure scheme under the Finance Act and income-tax had been paid in respect thereof and that these amounts were later deposited by the aforesaid
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