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Commissioner of Income-tax (Central) Vs. Oriental Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 5(1), 8, 91, 194 and 198

Reported in : (1981)25CTR(Cal)75,[1982]137ITR777(Cal)

effected by the Finance Act, 1965 (U.K.), came up for consideration before this court. The relevant section is Section 47, which is as follows : '47. (1) Except as otherwise provided by this Act, Corporation tax shall not … previous order it had dealt with the U.K. law both before and after its amendment by the U.K. Finance Act, 1965. The Tribunal followed its previous order and held that the AAC was justified in his conclusion that … of the I.T. Act, 1961, we are concerned with the assessment years 1966-67, 1967-68 and 1968-69, for which the relevant previous years ended on 31st

Commissioner of Income-tax Vs. India Textile Agency Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 5(1), 51 and 256(1); ;English Finance Act, 1965 - Section 47(1) to 47(4); ;Income Tax Act, 1952 - Section 157

Reported in : [1981]132ITR481(Cal)

dividend income of a shareholder in a foreign company was only the net dividend ; but the English Finance Act, 1965, amended the previous law. Under Section 47(1) to (4) of the English Finance Act, 1965, the dividend … Section 256(1) of the I.T. Act, 1961. The assessee is a company. The assessment year under consideration is 1966-67. The accounting year ended on March 31, 1966, The assessee had earned during the accounting year gross foreign

The Khardah Company Ltd. Vs. Commercial Tax Officer, Esplanade Charge ...

Court : Kolkata

Subject : Sales Tax

Reported in : [1976]37STC382(Cal)

has contended that the said substitution of the words 'three per cent' in Section 15 made by the Finance Act, 1966, is no longer in force. The Finance Act, 1966, was an annual Act, and, after the expiry of

Tube Investments of India Limited Represented by Its Vice President, T ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 5, 9(1), 10A, 10A(1A), 10B, 28 to 43C, 43D, 44AC, 64, 72, 80, 80(IA), 80(IE), 143C, 145, 153, 192, 193, 194, 194A, 194C, 194C(1), 194D, 194G, 194H, 194I, 194J, 194LA, 195, 195(5), 195A, 197, 198, 199, 200, 200(1), 201, 201(1), 201(1A), 205, 206C, 221, 271C, 276B and 276BB; Hindu Women's Right to Property Act; Companies Act; Finance Act, 1983; Finance Act, 2007; Central Excises and Salt Act, 1944 - Sections 11D; Bombay Rents, Hotel and Lodging House Rates Control Act, 1947 - Sections 11(4); Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 13(4), 17 and 17(2); Andhra Pradesh Shops and Establishments Act, 1966 - Sections 47(3); Payment of Gratuity Act, 1972; Partnership Act, 1932 -

Reported in : (2009)226CTR(Mad)313; [2009]185TAXMAN438(Mad)

suffer from any of the vice alleged to strike it down.74. In fact Section 43B was introduced by Finance Act, 1983 and the provision came into force w.e.f. 01.04.1984. The said provision came up for interpretation before the … case on hand. That was a case arising under the provisions of the Andhra Pradesh Shops and Establishments Act, 1966. Section 47(3) of the said Act provided for payment of gratuity even if an employe has put in one

T.R. Ganapathy Chettiar Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1999)240ITR33(Mad.)

history would be necessary to keep the matter in the right perspective.The development rebate was introduced by the Finance Act, 1955. In the Budget Speech ([1955] 27 ITR (St.) 42), the Finance Minister referred to the recommendation of … 45(2) deals with profits arising on conversion of capital asset as stock-in-trade which is 'sold or otherwise transferred'. Section 47 enumerates the cases of transfer which are not liable to capital gains of which the transfer of a

Nalli Textiles by Proprietor N.C. Ramasamy Chettiar Vs. Minor Krishnan ...

Court : Chennai

Subject : Property

Reported in : (2001)3MLJ512

2.4.1962, in relation to 2.20 acres in Survey No. 77 in Mundagampadi, Yercaud from his clients M/s. Rajendra Finance Corporation at 554, B.R. Road, Alandur, Madras-16 and it was further stated that Ravi has no title or … friend, managing the same.The defendant filed a suit in C.S.No. 104 of 1966 in the original side of the High Court to recover a sum … attached in execution, on 8.8.1970. In the said execution petition, Ravi, S/o. M.R. Radha filed a petition under Section 47 of C.P.C. on 28.11.1970 to raise the attachment in R.E.A. No. 2929 of 1970 in R.E.P. No. 744 … to M.R. Radha for valuable consideration on 2.4.1962. M.R. Radha, who was acting in a number of Tamil films, purchased the property from and out

The Commissioner of Income-tax and the Assistant Commissioner of Incom ...

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(47), 45, 45(2) to 45(4), 47, 143(3), 147, 177(2), 188, 234A, 234B and 260A; Finance Act, 1964; Taxation Laws (Amendment) Act, 1984; Finance Act, 1987

Reported in : (2009)226CTR(Kar)474

(4) by way of amendment in the year 1964. Sub-sections (2) and (3) were omitted w.e.f. 1-4-1966 by Finance Act 1964 and got back on the statute book by way of amendment through Taxation laws (Amendment) Act 1984 … of Section 45 but also has defined and discussed the impact of the deletion of Clause (ii) of Section 47 of the Act and the legislative intent is clearly to plug the leakage of revenue and the Bombay

Assistant Commissioner of Vs. Mipa Investment Ltd.

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1992)43ITD60(Mum.)

the dividend income of a shareholder in a Foreign Company was only the net dividend, but the English Finance Act, 1965 amended this position. Under the amended law vide Section 47(1) to (4) of the English Finance Act, … Court of Calcutta for the only reason that the assessment year in question had ended on 31st March, 1966. The Hon'ble High Court, therefore, took the view that any foreign dividend earned by the assessee must have

Gautam Sarabhai Trust No. 31 Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

Reported in : (1987)20ITD528(Ahd.)

cannot be redundant, in the position of law as obtained after the introduction of Section 47(vii) by the Finance Act, 1967, there is a transfer by the shareholder when he receives shares in the amalgamated company in lieu

Commissioner of Income-tax Vs. Thomas Duff and Co. (India) Pvt. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 5(1), 91 and 256(1); ;Indian Income Tax Act, 1922 - Section 49D; ;Finance Act, 1965 - Section 47 and 47(2); ;Income and Corporation Taxes Act, 1970 - Section 232

Reported in : [1982]137ITR798(Cal)

involved is 1970-71. Therefore, it was sought to be urged that in view of Section 47 of the Finance Act, 1965, of England which is again more or less in similar lines with Section 232 of the Income … standard rate. In addition, companies were liable to profits tax; immediately prior to its abolition on 5th April, 1966, this tax was levied at 15 per cent. on total profits with provision for abatement of profits of