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Commissioner of Income-tax Vs. National Insurance Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Indian Income Tax Act, 1922 - Sections 2(4A), 3(1), 3(3), 3(5), 3(6), 10(1) and 66(1); ;Life Insurance (Emergency Provisions) Ordinance, 1956; ;Life Insurance (Emergency Provisions) Act, 1956 - Section 7; ;Life Insurance Corporation Act, 1956; ;Finance Act, 1973 - Section 4; ;Income Tax Act, 1961 - Section 28

Reported in : [1978]113ITR37(Cal)

argument of Mr. Pal which has not been noted earlier. It is based on section 4 of the Finance Act, 1973, by which Sub-clause (d) in Clause (ii) has been inserted in Section 28 of the Income-tax Act, 1961,

Hira Lal Hari Lal Bhagwati Vs. C.B.i., New Delhi

Court : Supreme Court of India

Subject : CustomsCriminal

Acts : Code of Criminal Procedure (CrPC) - Sections 245 and 482; Constitution of India - Article 227; Indian Penal Code (IPC), 1860 - Sections 120B, 166 to 177 and 378 to 462; Customs Act, 1962 - Sections 28, 111, 112A and 130E; Finance (No. 2) Act, 1998 - Sections 90(2), 90(4) and 91; Wealth Tax Act, 1957; Gift Tax Act, 1958; Income Tax Act, 1961; Interest Tax Act, 1974; Expenditure Tax Act, 1987; Central Excise Act, 1944; Customs Tariff Act, 1975; Central Excise Tariff Act, 1985; Foreign Exchange Regulation Act, 1973; Narcotic Drugs and Psychotropic Substances Act, 1985; Terrorists and Disruptive Activities (Prevention) Act, 1987; Prevention of Corruption Act, 1988

Reported in : AIR2003SC2545; 2003(2)ALD(Cri)292; 2003(2)ALT(Cri)142; 2003(51)BLJR1697; 2003CriLJ3041; 2003(3)CTC356; (2003)182CTR(SC)1; 104(2003)DLT699(SC); 2003(87)ECC473; 2003(155)ELT4; (2003) 5 SCC 257

for meeting the cost for the matching out the purchaseof procuring such finance the said machines may be mortgaged orleased to leasing company or financial … offencepunishable under Chapter IX or Chapter XVII of the Indian Penal Code(45 of 1860), the Foreign Exchange Regulation Act, 1973 (46 of 1973),the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985),the Terrorists and Disruptive Activities (Prevention) … denying the concessional duty benefit under CustomsNotification Nos. 279/1983 and 64/1988 and demanded a duty of Rs. 2,16,80,444/-under Section 28 of the Customs Act, 1962 read with the proviso to the said Section.The said duty was to be

M/S. W.T. Suren and Co. Ltd. Vs. the Commissioner of Income Tax, Bomba ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax - Income Tax Act, 1922 - Sections 10 and 66(1); Industrial Disputes Act, 1947 - Sections 25FF; Income Tax Act, 1961 - Sections 28, 30, 31, 32, 33, 34, 35, 36, 40A(7) and 261; Finance Act, 1973

Reported in : AIR1998SC1575; [1998]230ITR643(SC); JT1998(2)SC74; 1998(2)SCALE1; [1998]1SCR1069

employment for any reason was made in the Income Tax Act, 1961 by Section 40A(7) introduced by the Finance Act w.e.f. April 1, 1973.10. It was submitted by Mr. Vellapally that High Court went wrong in holding that … be allowed in respect of the matters dealt with therein, in computing the income referred to in Section 28-(i)...(ii) any sum paid to an employee as bonus or commission for services rendered, where such sum would not

Commissioner of Income-tax Vs. Himalaya Cutlery Works

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 80HHC, 80HHC(1), 80HHC(2), 80HHC(4), 256(1) and 288(2); Finance Act, 1990; Foreign Exchange Regulation Act, 1973; Custom Act, 1962

Reported in : (2006)201CTR(All)167; [2006]287ITR485(All)

It is pointed out that the provisions of Section 28(iiia), (iiib) and (iiic) of Section, stood amended by Finance Act, 1990 wherein income by way of import entitlements, cash assistance and duty draw back were a part of … by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Regulation Act, 1973, and any rules made thereunder;(b) 'export turnover' means the sale proceeds receivable by the assessee in convertible foreign

Commissioner of Income-tax Vs. Vippy Solvex Products P. Ltd.

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Finance Act, 1974 - Sections 16; Income Tax Act, 1961 - Sections 33, 33(5), 256 and 256(1)

Reported in : [2005]273ITR375(MP)

the development rebate on plant and machinery for which agreement to supply was entered into on December 28, 1973 ?'2. The facts in so far as they are relevant and stated in the statement of case drawn … inter alia, on the ground that the same does not satisfy the requirement of Section 16(c) of the Finance Act, 1974. The assessee felt aggrieved of this order filed an appeal to the Commissioner of Income-tax (Appeals). By

National thermal Power Corporation Ltd. Vs. Spectrum Power Generation ...

Court : Delhi

Subject : ContractCivil

Acts : Code of Civil Procedure (CPC), 1908 - Order 39, Rule 1; Specific Relief Act, 1963 - Sections 14; Foreign Exchange Regulation Act, 1973 - Sections 19(1)

Reported in : 1998IAD(Delhi)141; 69(1997)DLT652

of Us $ 23.2 Million. I request you to kindly fax a letter addressed to the Ministry of Finance, Department of Economic Affairs, New Delhi stating that your Company, one of the promoters of Spgl would be … to have interest free loan as advance share subscription from Overseas Corporate Bodies under the Foreign Exchange Regulations Act, 1973. This was in response to the letter dated 22.6.1994, already referred to. The Spgl had shown the remittance … be considered for accord of techno-economic clearance of Cea after compliance of Section 29 of the E (5) Act, 1948, by National Thermal Power Corporation … its letter dated 21.9.1993 to the Andhra Pradesh State Electricity Board. On 28.1.1993 the Ministry of Energy wrote to the Cmd, Ntpc conveying that the

J. Sainsbury Plc. Vs. Oconnar (inspector of Taxes).

Court : Kolkata

Subject : Direct Taxation

Reported in : [1992]197ITR462(Cal)

relief, the option agreement was an 'arrangement' within the meaning of paragraph 5(3) of Schedule 12 to the Finance Act, 1973. If so, the taxpayer company would lose the benefit of group relief by virtue of section 28 of

C.i.T. Vs. Sanghi Oxygen Co.

Court : Rajasthan

Subject : Direct Taxation

Reported in : 1992(3)WLC329; 1992WLN(UC)421

provisions of Section 40A(7). The Income-tax Appellate Tribunal has ignored the amendment made by Section 6 of the Finance Act, 1975 with retrospective effect from 1st April, 1973. It was further submitted that when there is a specific … that the claim of the assessee in respect of gratuity payable was allowable under Section 37 or under Section 28(1) of the I.T. Act, 1961?(2) Whether on the facts and in the circumstances of the case, the claim

Gadore Tools Pvt. Ltd., New Delhi Vs. Commissioner of Income Tax

Court : Delhi

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 35-B and 256; Finance Act, 1990

Reported in : (2000)161CTR(Del)472

favor of the Revenue in view of the amendments incorporated in the Income Tax Act, 1961 by the Finance Act, 1990. Finance Act, 1990 incorporated clause (iiib) to Section 28 of the Income Tax Act, 1961 with effect

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … the European Economic Community signed at Brussels on 22 January 1972 and the introduction of ACT in April 1973. Their arguments are directed in part to issues of domestic law. But they are also directed to the … As Henderson J explained at the outset of his judgment [2008] EWHC 2893 (Ch), [2009] STC 254, para 1, the Franked Investment Income ("FII") Group