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Commissioner of Income-tax, Gujarat Ii Vs. Patel Brothers and Co. Ltd.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 37(2), 37(2A) and 37(2B)

Reported in : [1977]106ITR424(Guj)

out of an allowance paid by the assessee. The final step in this matter was taken by the Finance Act, 1970, which inserted sub-section (2B). It prohibited deduction of any expenditure in the nature of entertainment expenditure within India … deduction in respect of those expenses in arriving at its profits for income-tax purposes notwithstanding the provisions of section 15(1)(a) of the Finance Act, 1965, which, in effect, disallowed the allowance 'for any expenses incurred in providing business

Commissioner of Income-tax Vs. Pulikkal Medical Foundation Pvt. Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(22) and 10(22A); Taxation Laws (Amendment) Act, 1970

Reported in : [1994]210ITR299(Ker)

the judgments interpreting Section 10(22A) have considerable relevance in interpreting Section 10(22A). Section 10(22A) was inserted by the Finance Act, 1970, with effect from April 1, 1970. The Notes on Clauses of the Bill relating to the insertion of … The Medical Trust Hospital was originally run by a firm of partners. That firm was dissolved on October 15, 1976, and its business was taken over by the assessee-company giving the partners of the firm due credit.2.

Commissioner of Income-tax Vs. Khem Chand Bahadur Chand

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Indian Income Tax Act, 1922 - Sections 10(2); Income Tax Act, 1961 - Sections 37(1), 37(2), 37(2A) and 37(2B)

Reported in : [1981]131ITR336(P& H)

as well. There also, its Parliament was similarly compelled to place curbs on indiscriminate business expenditure and that Section 15(5) of the Finance Act of 1965 was enacted in the following terms :'15. (5) For the purposes 'of … designedly on the indiscriminate allowance of such entertainment expenditure. The first of such restrictions was introduced by the Finance Act of 1961 (vide Section 6 of the Finance Act, 1961, with effect from April 1, 1962) in the … Haryana and the Union territory of Delhi. For the relevant assessment year 1970-71, the ITO computed the total income of the assessee at Rs. 61,173

The Indore Malwa United Mills Ltd. and ors. Vs. Union of India and ors ...

Court : Delhi

Subject : Labour and Industrial

Acts : Industrial (Development and Regulation) Act, 1951 - Sections 15; Sick Textile Undertaking Taking Over of Management Act, 1972 - Sections 2; Evidence Act, 1872 - Sections 51; Constitution of India - Article 14

Reported in : ILR1974Delhi311

has two of its nominees on the Board of Directors and also there was nominee of the M.P. Finance Corporation in connection with the loan of Rs. 10 lakhs given by the Corporation, and also further as … of losses to the tune of 137 lakhs in the year ending 1970. The position continued to get worse in 1971 and the losses piled … the Minister of Industrial Development.. in international Trade (Departmeiit of Industrial Development), New Delhi appointed a committee under Section 15 of the Industries (Development & Regulation) Act, 1951 (65 of 1951) for making full and complete investigation into

Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court : Supreme Court of India

Subject : Land Acquisition

of certain exemptions: Section 10 (20A) and Section 10 (23) 24. Section 10(20A) had been inserted by the Finance Act, 1970, w.e.f. 01.04.1962; it exempted certain classes of income earned by housing boards, etc., and before deletion read as … @ Diary No(s). 44856/2018; C.A. No._____/2022 @ SLP(C) No.6553/2019; C.A. No._____/2022 @ SLP (C) No._____/2022 @ Diary No(s). 15525/2019; C.A. No._____/2022 @ SLP(C) No.30597/2018; C.A. No._____/2022 @ SLP (C) No._____/2022 @ Diary No(s). 5683/2019; C.A. No._____/2022 2

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the … Act, 1949, defines 'corresponding new banks' as Banks constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. About 20 nationalised banks … Company Court and adjudicated in that Court. It was held that the said proceedings could not be transferred. Section 15 of the Life Insurance Corporation Act, 1956 - which we may say, roughly corresponds to Section 17 of

Chandigarh Distillers and Bottlers Ltd. and Patiala Distilleries and M ...

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 44AC, 44AC(1), 206C, 206(1) and 226(3); Punjab Excise Act, 1914; Punjab Liquor Licence Rules, 1956; Constitution of India - Article 226; Finance Act, 1988; Direct Tax Laws (Amendment) Act, 1989; Finance Act, 1992; Haryana Liquor Licence Rules, 1970 - Rule 38(15)

Reported in : [2002]253ITR205(P& H)

which have a bearing on the adjudication of the issue raised by the petitioners. By virtue of the Finance Act, 1988, Sections 44AC and 206C were inserted in the 1961 Act for computing the profits and gains from … from time to time. This position is further clarified by Rule 38(15) of the Haryana Liquor Licence Rules, 1970. L-13 licensees appear to be a class which, in view of the existing system of the transaction of … quashing the demands created by respondent No. 3-Income-tax Officer, Ward-5, Patiala, under Section 206C of the Income-tax Act, 1961 (for short, 'the 1961 Act'), and

Bihar Institute of Mining and Mine Surveying Vs. Commissioner of Incom ...

Court : Patna

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(15)

12A of the said Act lays down registration of trusts. Section 2(15), before its amendment made by the Finance Act, 1983, which came into effect on April 1, 1984, reads thus : ''Charitable purpose' includes relief of the

M. Ct. Muthiah and anr. Vs. Controller of Estate Duty

Court : Chennai

Subject : Property

Acts : Estate Duty Act, 1953 - Sections 2(15), 3(1), 5, 6, 15, 34(3) and 36

Reported in : [1974]44CompCas254(Mad); [1974]94ITR323(Mad)

paid in pursuance of the provisions of Section 5(1) was liable to estate duty. Section 2(1)(a) of the Finance Act, 1894 was held not applicable on the ground that the word ' passes ' in that section contemplates … 2,00,000.59. In Commissioners of Inland Revenue v. Graham decided on December 8 1970, the words ' at the time of death of the deceased ' … Act were clearly attracted.6. In the appeal, the revenue also contended that the case would be covered under Section 15 of the Act but the Board considered that since in its viewthe provisions of Section 6 were attracted

State of Kerala and ors. Vs. Ms. Mar Appraem Kuri Co.Ltd. and ors.

Court : Supreme Court of India

Subject : Constitution

Acts : Constitution of India - Article 254(1); Kerala Chitties Act 23 of 1975 - Section 15; Central Chit Funds Act 40 of 1982 - Article 254(1), Section 1(3), 85(a), 90(2); The U.P. Civil Laws (Reforms and Amendment) Act 57 of 1976 ; Code of Civil Procedure (Amendment) Act 104 of 1976 ; Central Act - Section 20; General Clauses Act, 1897 - Section 6 ; Orissa Mining Areas Development Fund Act, 1952

Because of this, investor protection became difficult. Consequently, Section 4 of the said 1975 Act was amended vide Finance Act 7 of 2002. By the said amendment, sub-section (1a) was inserted in Section 4. This amendment intended to … 1934 ; or (iv) a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Central Act 5 of 1970).Section 4 - Prohibition of invitation for subscription except under certain conditions (1) Where … which may extend to six months, or with fine which may extend to three hundred rupees, or with both.Section 15 - Security to be given by foreman (1) Every foreman shall, before the first drawing of the chitty,-