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Binny Limited and ors. Vs. Union of India (Uoi)

Court : Chennai

Subject : Excise

Acts : Finance Act, 1972; Companies Act; Limitation Act, 1963 - Sections 17 - Schedule - Article 96; Indian Contract Act - Sections 72; Constitution of India - Article 226

Reported in : 1979CENCUS290D; 1979(4)ELT230(Mad)

levy and collect excise duty on blended yarn prior to the introduction of Item No. 18E by the Finance Act, 1972, on the strength of Trade Notice, dated 10-5-1973 and Exemption Notification No. 156/64, dated 16-10-1964, issued under Rule … by the pronouncement of the Gujarat High Court in S.C.A. No. 1058 of 1972 and in terms of Section 17 (equivalent to Article 96 of the old Act) of the Limitation Act of 1963, the petitioners have a

Amara Kondaiah Vs. Income-tax Officer, C-ward and anr.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24); Constitution of India - Article 246; Finance Act, 1972

Reported in : [1977]106ITR73(AP)

10(3) of the 1961 Act, They againbecame taxable when the exemption was withdrawn by the Finance Act, 1972. 17. In Bhola Nath Kesari v. Director of State Lotteries : [1974]95ITR171(All) , the Allahabad High Court held that … petition. 2. Prior to 1st April, 1972, winnings in horse races were not eligible to income-tax. By the Finance Act, 1972, Clause (ix) was added to Section 2(24) of the Income-tax Act, 1961, which defines 'income'. Now, according to

Assistant Commissioner of Income Vs. Visharad Automobiles Financiers

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (2007)108ITD294(Delhi)

this regard. This is so because of the existence of a special enactment, known as the Hire Purchase Act, 1972. This, as per the learned Counsel for the assessee, is the Act/enactment governing the agreements under consideration.These agreements … that the mandatory initial deposits by the hirer is by way of securing the interest on the amount financed. 4. In the facts and circumstances of the case, the learned CIT(A), failed to appreciate the fact that … taken from Interest-tax Appeal No. 1/Del/2005.4. The AO passed an order under Section 8(2) of the Interest-tax Act, 1974. It was held that hire charges/financing … v. Asstt. CIT (2002) 76 TTJ (Luck) 918 : (2002) 82 TTD 176 (Luck) were directly applicable. The CIT(A) was, therefore, not justified in upholding

Bharat Commerce of Industries Ltd. Vs. Union of India (Uoi) and ors.

Court : Delhi

Subject : Excise

Acts : Constitution of India - Article 226; Central Excises Act, 1944; Central Excises Rules, 1944 - Rules 8(1), 9 and 10; Central Excises (Amendment) Rules, 1977 - Rule 11; Finance Act, 1972

Reported in : 1979CENCUS447D; 1979(4)ELT527(Del)

blended yarn produced by the company could be treated as excisable item for the earlier period before the Finance Act, 1972, which introduced clear, unequivocal item No. 18E to cover such goods which were produced by the mixture of … additional duty of Rs. 4,182.04. It was now claimed that the assessed was liable to pay duty under Section No. 2 (iii) falling under Item No. 18 of the First Schedule to the Act under a notification … l(b) at 45 p. and 25 p. per kilogram from 21-2-67 to 17-6-67. However, on 23-6-67, a notice was served on the assessed claiming additional

Pallonji Shapoorji and Co. (P) Vs. Deputy Commissioner of Wealth Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2006)102ITD101(Mum.)

right to occupy premises belonging to a co-operative housing society are taxable assets under Section 40 of the Finance Act, 1983 in the case of a private limited company? Assessee has filed its return of wealth on 9th … paper book p. 155, i.e., Board Circular No. 72, dt. 6th Jan., 1972, learned Counsel submitted, co-operative societies are exempted from the rigors of wealth-tax. … of the flat at Sterling Bay Co-operative Housing Society Limited for wealth-tax purpose. In response to notice under Section 17 of the WT Act, assessee filed the return on 5th May, 1994 declaring a net wealth of Rs.

Union of India (Uoi) and anr. Vs. Azadi Bachao Andolan and anr.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 4, 5, 6, 7, 10(1), 44, 51, 73, 90, 115A, 116, 119, 119(1), 119(2), 245O, 245S and 245R; Companies (Profits) Surtax Act, 1964; Evidence Act; Income Tax Act, 1922 - Sections 49A; Finance Act, 1972; Finance Act, 1991 - 90(1) and 90(2); Constitution of India - Articles 1, 2(2), 3, 4, 4.1, 4(3), 10, 11, 12, 13, 13(4), 14, 15, 16, 17, 18, 18(2), 20, 21, 22, 25, 28, 31B, 73 and 265; Central Excise Act, 1944 - Sections 5A; Central Sales Tax Act, 1956 - Sections 8(5); Customs Act - Sections 25; Economic Crime and Anti Money Laundering Act, 2000; Companies Act, 1984; Stock Exchange Act, 1988; Income Tax Law; Income and Corporation Taxes Act, 1970 - Sections 460; Wealth Tax Act - Sections 21(2)

Reported in : (2004)1CompLJ50(SC); (2003)184CTR(SC)450; [2003]263ITR707(SC); JT2003(Suppl2)SC205; 2003(8)SCALE287; (2004)10SCC1

1961 was introduced, Section 90 contained therein initially was a reproduction of Section 49A of 1922 Act. The Finance Act, 1972 (Act 16 of 1972) modified Section 90 and brought it into force with effect from 1.4.1972. The object … Dependent Personal Services in Article 15. Directors' Fees in Article 16, income of Artists and Athletes in Article 17, Governmental Functions in Article 18, income of students and Apprentices in Article 20, income of Professors, Teachers and

Yoshio Kubo Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

virtue of Section 10(10CC), introduced and brought into force in the Statute with effect from 01.04.2002 by the Finance Act, 2003, they were not liable to pay tax on such amounts which constituted the income tax component paid … 18. Till 31-3-1972, Section 40(a) (v) was in force and from 1-4- 1972, 40-A (5) came into force in its place. Both provisions were substantially … be regarded as monetary payment and, therefore, treated as ITA 441/2003 and connected cases Page 6 perquisites under Section 17(2) of the Act. The Revenue questions the decision and the logic underlying the Tribunals determination on this aspect.4.

C.W.S. (India) Limited Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Direct Taxation

Reported in : [1994]208ITR649(SC); JT1994(3)SC116; 1994(1)SCALE840; 1994Supp(2)SCC296; [1994]2SCR247

40(c)(iii) which was, of course, applicable only to companies and not to other assessees.2. Section 40(c)(iii) introduced by Finance Act, 1973 with effect from April 1, 1963, as substituted by Finance Act, 1964, read as follows:40 Amounts not … the interpretation of Section, 40(a)(v) as well as Section 40A(5) of the Income Tax Act. Upto March 31, 1972, Section 40(a)(v) was in force arid from April 1, 1972, Section 40A(5) came into force in its place. Both … of clause (6) of that section or any sum referred to in clause (viii) of Sub-section (1) of Section 17 or in clause (v) of Sub-section (2) of that section or the amount of any compensation referred to

Commissioner of Income-tax Vs. Indian Molasses Co. (P.) Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 40, 40A and 40A(5)

Reported in : (1989)77CTR(Cal)112,[1989]176ITR473(Cal)

history of Section 40(c), Section 40(a)(v) and Section 40A(5).6. Section 40(c)(iii) was introduced by Section 6 of the Finance Act,1963, with effect from April 1, 1963. Section 40(c) as it stood after the insertion of clause (iii) is … of an employee participating in a recognised provident fund referred to in Clause (vii) of Sub-section (1) of Section 17, or the amount of any compensation referred to in Clause (i) or any payment referred to in clause … of law has been referred to this court for the assessment year 1972-73 under Section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts

Commissioner of Income-tax Vs. Chemical and Metallurgical Design Co. L ...

Court : Delhi

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 80AA, 80AB, 80HH, 80M, 80N, 80-O, 80T, 85 and 256(1); Finance Act, 1974 - Sections 17; Finance Act, 1968; Finance Act, 1971

Reported in : 2000(57)DRJ246; [2001]247ITR749(Delhi)

the Revenue would appear attractive, in reality, it is not so. The effect of Section 17 of the Finance Act, 1974, which brought about certain amendments to Sections 80N and 80-O have not been noticed and a bare … income.'7. Section 80-O prior to the substitution by the Finance (No. 2) Act of 1971 with effect from 1972 :'80-0. Deduction in respect of royalties, etc., received from certain foreign companies.-Where the gross total income of an