Advanced Search Results

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)

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

Miss. Lopamudra Misra Vs. Assistant Commissioner of Income Tax and ors ...

Court : Orissa

Subject : Direct Taxation

Reported in : 2009(I)OLR844

2(24)(ix) was brought into effect from 1.4.2002Section 2(24)(ix) was inserted in the Income Tax Act, 1961 by the Finance Act, 1972 w.e.f. 1.4.1972 which is quoted herein below:2(24)(ix) any winnings from lotteries, crossword puzzles, races including horse races, card … [63/1951]. Section 29; [P.K. Tripathy, A.K. Parichha & N.Prusty, JJ] Discharge of loan Orissa Forest Act (14 of 1972), Section 56 Confiscation of vehicle - Held, The Authorities under Section 56 of the Orissa Forest Act, 1972 are

Minocha Bros. Pvt. Ltd. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Subject : Other Taxes

Acts : Finance Act, 1971 - Sections 2(6); Finance (Amendment) Act, 1972

Reported in : (1994)116CTR(SC)476; [1993]204ITR628(SC); 1994Supp(2)SCC694

Other Taxes - lower rate of tax - Section 2 (6) of Finance Act, 1971 and Finance (Amendment) Act, 1972 - assessee engaged in construction of buildings manufactured window, doors and shutters and other goods - assessee claimed … :The question as to the exact meaning of the Explanation to Sub-section 7(d) of Section 2 of the Finance Act, 1966, came up for consideration and the Board are advised that an 'Industrial company' would mean-(i) A company

B.K. Suresh Vs. Income Tax Officer

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 10(3), 143(1), 194B and 260A; Finance Act, 1972; Finance Act, 2001

Reported in : (2009)221CTR(Kar)80

within the definition of lottery.8. Section 194B of the Act was amended w.e.f. 1st April, 1972 by the Finance Act, 1972. It introduced Section 194B, a new Sub-clause (ix) was introduced in the definition of 'income' in Section 2(24)

The Commissioner of Income Tax Vs. the Deputy Director of Small Saving ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act - Sections 2(24), 194B, 201 and 201(1A); Finance Act, 1972; Finance Act, 2001; Betting, Gaming and Lotteries Act, 1963 - Sections 41

Reported in : (2004)187CTR(Mad)562; [2004]266ITR27(Mad)

shall, before releasing the winnings, ensure that tax has been paid in respect of the winnings.'6. By the Finance Act, 1972, which introduced Section 194B, a new sub-clause (ix) was introduced in the definition of 'income' in Section 2(24)

Commissioner of Income-tax Vs. Rajmohan Cashews (P.) Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1972 - Sections 2(6)

Reported in : [1990]185ITR472(Ker)

right in holding that the assessee was an industrial company within the meaning of Section 2(6)(c) of the Finance Act, 1972 ?'2. Section 2(6)(c) of the Finance Act, 1972, provides : ... (6) For the purposes of this section

Commissioner of Income-tax Vs. Rajamohan Cashews Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 43(5); Finance Act, 1972 - Sections 2(6); Finance (No. 2) Act, 1977 - Sections 2(7)

Reported in : (1989)78CTR(Ker)151; [1991]187ITR670(Ker)

25, 1986, held that the respondent-assessee is an industrial company within the meaning of Section 2(6)(c) of the Finance Act, 1972. The Appellate Tribunal has also found that the nature of the operations carried on by the assessee-company is

Commissioner of Income-tax, Madras Vs. G.R. Karthikeyan

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Constitution of India; Income Tax Act, 1961 - Sections 10(3), 2(24), 23(2) and 256(1); Finance Act, 1972 - Sections 74(A); Finance Act, 1986; Indian Income Tax and Excess Profits Tax (Amendment) Act, 1947; Indian Income Tax Act, 1922 - Sections 12(B); Government of India Act, 1935

Reported in : AIR1993SC1671; (1993)112CTR(SC)302; [1993]201ITR866(SC); JT1993(3)SC174; (1993)2MLJ82(SC); 1993(2)SCALE588; 1993Supp(3)SCC222; [1993]3SCR328

rope in windfalls from lotteries, races and card games etc.(c) Section 74(A) which too was introduced by the Finance Act, 1972 supports the said view. Section 74(A) provides that any loss resulting from any of the sources mentioned therein … the same in the income of the respondent-assessee relying upon the definition of 'income' in Clause (24) of Section 2. On appeal, the Appellate Assistant Commissioner held that inasmuch as the rally was not a race, the amount

Commissioner of Income-tax Vs. Ramdeo Samadhi

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act - Sections 2(24) and 256(1); Finance Act, 1972; Finance Act, 1980

Reported in : (1986)50CTR(Raj)61; [1986]160ITR179(Raj); 1985(2)WLN161

types have been enumerated. It may be stated that Sub-clause (ii)(a) in Section 2(24) was inserted by the Finance Act, 1972, with effect from April 1, 1973, and Sub-clauses (iva) and(ix) were inserted by the Finance (No. 2) Act,

Gurcharan Singh and ors. Vs. Shri V.K. Kaushal

Court : Supreme Court of India

Subject : Tenancy

Acts : East Punjab Urban Rent Restriction Act, 1949 - Sections 1(3), 13(2), 15(5) and 19; Cantonments (Extension of Rent Control Laws) Act, 1957 - Sections 2(2), 3, 3(1), 3(2) and 3(3); Cantonments (Extension of Rent Control Laws) (Amendment) Act, 1972 - Sections 1(2); States (Laws) Act, 1950 - Sections 2; Bengal Finance (Sales Tax) Act, 1941 - Sections 2

Reported in : AIR1980SC1866; (1980)4SCC244; [1981]1SCR490

(Extension of Rent Control Laws) Act, 1957, Section 1 (2) of Cantonments (Extension of Rent Control Laws) (Amendment) Act, 1972, Section 2 of States (Laws) Act, 1950 and Section 2 of Bengal Finance (Sales Tax) Act, 1941 - respondent landlord