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Bhola Nath Kesari Vs. Director of State Lotteries and ors.

Court : Allahabad

Subject : Direct Taxation

Acts : Constitution of India - Article 82; ;Income Tax Act, 1961 - Sections 6 and 10(3); Income Tax Act, 1922 - Sections 4(3); Finance Act, 1972

Reported in : [1974]95ITR171(All)

from lotteries used to be exempt from Income-tax as being receipts of casual and non-recurring nature. By the Finance Act, 1972, certain amendments were made to the Income-tax Act, 1961, as a result of which the winnings from lotteries … gambling and betting also became taxable. The following amendments were made in the Income-tax Act, 1961. 4. In Section 2(24), which defines ' income ', a new Clause (ix) was added reading as under:' 2(24)(ix). Any winnings

Vijay Krishan vs.the State Trading Corporation & Ors

Court : Delhi

Subject : Land Acquisition

State Trading Corporation of India Limited, New Delhi failed to ensure proper examination of the business proposal from finance angle of the STC Metal Scrap Division for grant of financial assistance of Rs.150 crore to M/s Metro … to the following: (i) Deduction of 100% gratuity was contrary to Section 4(6) of the Payment of Gratuity Act, 1972 (hereinafter referred to as “the Act”) under which termination of employment was the sine qua non for passing

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 … in horse races under entry 62 in List II of the Seventh Schedule of the Constitution of India. 4. So, the question for our consideration is whether Parliament has the legislative power to enact Clause (ix) of

Commissioner of Income-tax Vs. N.J. Pavri

Court : Mumbai

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 10(10); Finance Act, 1974; Payment of Gratuity Act, 1972 - Sections 4

Reported in : [1999]237ITR472(Bom)

is less ;'5. A bare reading of the above section as it stood before the amendment by the Finance Act, 1974, shows that gratuity payable to the employees of the Government, local authority or a statutory corporation was … applicable to the members of the defence services ; (ii) any gratuity received under the Payment of Gratuity Act, 1972 (39 of 1972), to the extent it does not exceed an amount calculated in accordance with the provisions … it does not exceed an amount calculated in accordance with the provisions of Sub-sections (2) and (3) of Section 4 of that Act ; (iii) any other gratuity received by an employee on his retirement or on his

Seagull Laboratories (i) Pvt. Ltd. Vs. Delhi Administration and ors.

Court : Delhi

Subject : Sales Tax

Acts : Delhi Sales Tax Act, 1975 - Sections 4(2); Constitution of India - Article 301

Reported in : 44(1991)DLT3; ILR1991Delhi290; [1991]81STC90(Delhi)

section 5(2)(a)(ii) and the second proviso. Section 5(2)(a)(ii) was amended with effect from 28th May, 1972, by the Finance Act, 1972, and the words 'in the Union Territory of Delhi' were added after the word 'manufacture' so as to … B.N. Kirpal, J.(1) The challenge in this writ petition is, inter alia, to the provisions of section 4(2)(a)(v) 3rd proviso of the Delhi Sales Tax Act 1975 (hereinafter referred to as the 'Act') in so far

Assistant Commissioner of Income Tax Vs. Ambadi Enterprises (P) Ltd.

Court : Chennai

Subject : Direct Taxation

Reported in : (1998)62TTJ(Mad)432

the order of the Commissioner (Appeals) was a negative figure. But due to the retrospective amendment by the Finance Act, 1990, the relief in respect of cash assistance has been withdrawn and, therefore, the total income will become … been withdrawn and, therefore, the total income will become positive taxable income. In these circumstances the deduction under section 80HHC and the disallowance of guest house expenses become important for the petitioner because otherwise there will be … first one being against the rejection of the assessee's claim of Rs. 49,543 under section 80HHC on the ground that the assessee has not created

Hindustan Wire Products Ltd. Vs. Commissioner of Income Tax, Patiala

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 33(1)(A), 33(1)(B), 80B(7), 80E, 80I and 80I(1); Finance Act, 1972; Finance Act, 1968

Reported in : AIR1987SC566; (1986)55CTR(SC)183; [1986]161ITR749(SC); 1986(2)SCALE160; (1986)3SCC689; [1986]3SCR478

80E and subsequently of Section 80I will apply. Section 80I, it may be noted, was deleted by the Finance Act, 1972 with effect from April 1, 1973. With effect from April 1, 1968 the expression 'priority industry' was defined … because the assessee received it at a certain time or adopted a certain sYstem of accounting. [301 B] Section 4 does not say that whatever is included in total income must be brought to tax. The income has

income-tax Officer Vs. M.A. Chidambaram

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

Reported in : (1985)14ITD411(Mad.)

from other sources' and not under any other head.3. This section was inserted in the Act by the Finance Act, 1972 with effect from 1-4-1972. The Finance Act, 1972 introduced substantial modification mainly of the provision contained in Section

Polestar Electronic (Pvt.) Ltd. Vs. Additional Commissioner, Sales Tax ...

Court : Supreme Court of India

Subject : Sales Tax

Acts : Bengal Finance (Sales Tax) Act, 1941 - Sections 5(2); Sales Tax Act

Reported in : AIR1978SC897; (1978)1SCC636; [1978]3SCR98; [1978]41STC409(SC); MANU/SC/0337/1978

(vi) such other sales as may be prescribed; This was the definition until 28th May, 1972, when by Finance Act, 1972 the main enactment in Section 5(2)(a)(ii) was substituted by the following provision :(2) In this Act the expression … which laid down as to when a sale or purchase shall be deemed to take place inside Delhi. Section 4, Sub-section (1) provided that every dealer whose gross turnover during the year immediately preceding the commencement of the

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