Advanced Search Results

J.K. Synthetics Ltd. Vs. O.S. Bajpai, Income-tax Officer, Central and ...

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 3(3), 3(4), 35(3), 41, 41(1) and 154; Constitution of India - Article 226

Reported in : [1976]105ITR864(All)

as a result of a change in the rate of tax. Rate of tax is prescribed by the Finance Act of every year. A previous year normally consists of a period of 12 months and the income of … assessment year in which the income becomes first assessable as provided by Clause (iii) of Sub-section (1) of Section 153. Thus, the last date of limitation for completing the assessment was 31st March, 1975. The limitation, however,

H.S. Mukherjee Vs. Commissioner of Income-tax

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 14, 45, 67, 114 and 182

Reported in : (1986)56CTR(Cal)150,[1986]161ITR846(Cal)

capital gains was also provided for in the Finance Act passed each year.14. In Section 2(4) of the Finance Act, 1966, it was laid down that in cases to which Chapter XII of the Income-tax Act, 1961, applied, the … the transfer of a capital asset effected in the previous year shall, save as otherwise provided in Sections 53 and 54, be chargeable to income-tax under the head 'Capital gains', and shall be deemed to be the

Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2000)241ITR43(Mum.)

Indian technical know-how, abroad was first introduced in the form of s. 85C of the Act by the Finance Act, 1966, w.e.f. 1st April, 1966. At the time of its introduction, this section provided for tax at the rate … the decision of the Supreme Court in the case of CIT vs. National Taj Traders (1980) 121 ITR 535 (SC) at p. 542.A judicial interpretation should be so geared as to fairly serve the legislative intent. This

Commissioner of Income-tax Vs. Calcutta Steel Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 154; ;Finance (No. 2) Act, 1967 - Section 2(4); ;Income Tax (Determination of Export Profits) (No. 2) Rules, 1967

Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)

, the question before the Madras High Court was whether under the provisions of Section 2(5)(a) of the Finance Act, 1966, the cash subsidy and the income derived from the sale of import entitlements would form part of the

Cwp No. 6960 of 1987 Vs. Jawahar Singh and Others ..............Petiti ...

Court : Punjab and Haryana

Subject : Land Acquisition

instalment of sale price. However, in a meeting dated 22.12.1965, the then Finance Minister observed that the rate of `3,50,000/- was too low and a … of the Punjab State, the property devolved upon the Punjab State under the provisions of the State Re-organization Act, 1966. The premises had been leased out to Late Shri Jhanda Singh, father of Shri Daljit Singh, Advocate-respondent No.4. … to file a suit for specific performance of the agreement, if any, at the time of revocation and Section 53 A of the T.P. Act was not applicable to the facts of the present case. The Faridkot House

Malad Kokil Co-operative Housing Society Ltd. and Another Vs. the Mode ...

Court : Mumbai

Subject : Land Acquisition

as laid down by the Apex Court in the case of Reserve Bank of India v/s. Peerless General Finance and Investment Co. Ltd. and ors. {AIR 1987 SCC 1023}, the Court will have to draw a distinction … exercised and the limitations on the exercise of such powers are contained in Section 46 of the M.R.T.P. Act, 1966, read with reg. 64(b) of the Development Control Regulations for Greater Mumbai, 1991, These two provisions are to … regard to these aspects while deciding an application for retention under Section 53(3) read with Sections 44, 45 and Section 46 of the said Act.”

Pramod Kumar Gupta Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1991)39ITD1a(Delhi)

Act was enlarged by insertion of Sub-clauses (v) & (vi) and Explanation, of the said section by the Finance Act, 1987 w.e.f. 1-4-1988. The thrust of the argument was that if a transaction involving the allowing of possession … the afore-mentioned three co-owners from late Shri Rameshwar Das who died in 1966. These co-owners floated a company named M/s Ramesh Apartments (P.) Ltd. on … property to be taken or retained in part performance of a contract of the nature referred to in Section 53 A of the Transfer of Property Act was to be included in the definition of transfer for the

Pukhrajmal Sagarmal Lunkad (Deceased Through L.Rs.) and ors. Vs. the M ...

Court : Mumbai

Subject : PropertyConstitution

Reported in : 2005(2)ALLMR271; (2005)107BOMLR685

VII deals with joint Town Planning Schemes and Chap. VIII deals with Finance under the B.T.P. Act, after a Draft Development Plan is sanctioned, the … is next prayed that the petitioners had taken steps under Section 127 of the Maharashtra Regional Town Planning Act, 1966, (hereinafter referred to as 'the M.R.T.P. Act' for the sake of brevity), by serving notice on the Planning … lands which are required by the Local Authority, unless otherwise determined in the scheme, by the operation of Section 53{a), vest absolutely therein free from all encumbrances. The result is that there is a complete shuffling up of

Commissioner of Income Tax Vs. Abraham

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33(2), 73(2) and 77(2)

Reported in : 2004(2)KLT585

farther submitted that in view of the circular dated 27.3.2000 issued by the Government of India, Ministry of Finance (Department of Revenue) in the Central Board of Direct Taxes stipulating that appeal or reference to the High … Appellate Tribunal, Cochin Bench has referred the following question of law under S. 256(1) of the Income Tax Act, 1961 (for short 'the Act') for decision by this Court at the instance of the revenue.'Whether, on the … to carry forward of the unabsorbed depreciation computed for the assessment year 1966-67 and have it set off in its assessment for 1968-69.22. It must … appearing for the applicant submitted that a reading of the provisions of Section 32 (1) and (2) along with Sections 72(2) and 73(1) would show

Mentha and Allied Products Pvt. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1992)43ITD33(Delhi)

that the Madras case was a case of claiming rebate under the provisions of Section 2(5){a) of the Finance Act, 1966. Under the scheme framed by the Central Government to encourage export of goods, the assessee became entitled to … 2(5)(d), these two receipts have to be treated as profits referable to or derived from the said export." 53. Thus, even though the attention of the Madras High Court was drawn to the restricted scope of the