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India Tyre and Rubber Co. (India) Pvt. Ltd. Vs. Commissioner of Income ...

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961; Finance Act, 1974 - Sections 2(8)

Reported in : [1994]210ITR409(Bom)

in the manufacture of goods and as such it was not an industrial company as defined in the Finance Act, 1974 ?' 2. Section 2(8) (c) of the Finance Act, 1974, defines the expression 'industrial company' for the purposes … aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VI-A of the Income-tax Act) is not less than fifty-one per cent. of such total income;' 3. Paragraph … this court for its opinion under section 256(1) of the Income-tax Act, 1961 : 'Whether, on the facts and in the circumstances of the case,

State of Rajasthan Vs. Uka and ors.,

Court : Rajasthan

Subject : Tenancy

overcome the above difficulties, it was felt necessary to amend the Act.13. Chapter II of the Act of 1974 prescribes rights of agriculturists to alienate … institutional thereto came into force on 21.9.1974 in the name of 'Rajasthan Agricultural Credit Operations (Removal of Difficulties) Act, 1974' (hereinafter referred to as 'the Act of 1974') with statement of objects and reasons, as follows:One of the … shown that there are certain provisions therein which inhibit the entry of commercial Banks into the field of financing of agriculture. It will, therefore, be necessary to modify these laws for the purpose of enabling commercial banks … to notice certain relevant statutes and the facts associated.THE RAJASTHAN TENANCY ACT, 19553. On 30.3.1949, the State of Rajasthan was formed on integration of several

New Okhla Industrial Development Authority Vs. Anand Sonbhadra

Court : Supreme Court of India

Subject : Land Acquisition

mentioned above, we do not find that the lease deed in question can be said to be a finance lease.23. Keeping in view the Indian Accounting Standards, what appears broadly is that when lease involves real estate … Planning and Development Act, 1973, as re-enacted and modified by the Uttar Pradesh President's Act (Re-enactment with Modifications) Act, 1974, shall mutatis mutandis apply to the Authority with adaptation that- (a) any reference to the aforesaid Act shall … Applications of certain provisions of President's Act XI of 1973.-The provisions of Chapter VII and Sections 30, 32, 40, 41, 42, 43, 44, 45, 46, … to as the ‘IBC”) continues to be a fertile ground to spawn 1 litigation. Born in the year 2016, the IBC this time around has

Bhupendra Kumar Bhaumik Vs. Union of India

Court : Delhi

Subject : Direct Taxation

Reported in : [2002]125TAXMAN886(Delhi)

section 54E of the Income Tax Act, 1961 (hereinafter referred to as the Act), as introduced by the Finance Act, 1992, praying that the words and figures '29th day of February, 1992' in the said section be struck … application in the facts of the present case.13. The scope and effect of amendment in various sections in Chapter IV Part E of the Act relating to taxation of capital gains including the amendments of sections 45 … Constitution of India the petitioner has challenged the constitutional validity of sub-section 1C of section 54E of the Income Tax Act, 1961 (hereinafter referred to

income-tax Officer Vs. M.A. Chidambaram

Court : Income Tax Appellate Tribunal ITAT Madras

Subject : Direct Taxation

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

the Finance Act, 1972, this provision contained only Sub-sections (1) and (2). Sub-section (3) was introduced by the Finance Act, 1974 with effect from 1-4-1975. The intention for the introduction of this sub-section has been explained in the memorandum … the assessee is that under Sub-section (3), in view of the words 'subject to other provisions of this Chapter', the assessee would be entitled to first set off the loss against other income and only the balance

Commissioner of Income-tax Vs. Continental Sea Foods India (Private) L ...

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80J; Finance Act, 1974 - Sections 2(8)(C); Income Tax Rules, 1962 - Rule 19A and 19A(3)

Reported in : (1994)121CTR(Mad)4; [1994]208ITR346(Mad)

be treated as an industrial company within the meaning of section 2(8) (c) of Chapter II of the Finance Act, 1974 (iii) Whether, on the facts and in the circumstances of the case, the amounts earned by way of … as part of capital for purposes of working out relief under section 80J notwithstanding the provisions of rule 19A(3) of the Income-tax Rules, 1962, in the facts and circumstances of the case (ii) Whether, on the facts

Association of Self Financing Arts and Science Colleges Affiliated to ...

Court : Kerala

stated for rejection of Ext.P4 representation in Ext.P5 are illegal and unsustainable. Section 36 of the Kerala University Act, 1974 (the Act) does not in any way authorise the second respondent University to impose AAF discriminately among the … is compelled to raise its own resources. As per Section 5(xi) of Chapter II of the Act, the University has the power to fix the … 1945 WA NO. 2154 OF 2023 ARISING FROM JUDGMENT DATED 11/08/2023 IN WP(C) NO.1447/2023 APPELLANT(S)/PETITIONER: ASSOCIATION OF SELF FINANCING ARTS AND SCIENCE COLLEGES AFFILIATED TO UNIVERSITY OF KERALA, 1ST FLOOR, GRAND PLAZA, PP/1560/VII, BHARATHANNOOR.P.O, TRIVANDRUM, REPRESENTED BY … MRS. JUSTICE C.S. SUDHA FRIDAY, THE 5TH DAY OF JANUARY 2024 / 15TH POUSHA, 1945 WA NO. 2154 OF 2023 ARISING FROM JUDGMENT DATED 11/08/2023

Kanta Mehta Vs. Union of India and Others

Court : Delhi

Subject : Company

Acts : Reserve Bank of India Act, 1934 - Sections 45-I, 45J, 45K, 45L, 45M, 45S, 45S(1), 45S(2), 58A(1), 58A(7), 58A(8), 58B and 58B(5A); Banking Laws (Amendment) Act, 1983 - Sections 10; Constitution of India - Articles 14, 19, 19(1) and 246; Kerala Money Lenders Act; Banking Regulation Act, 1949 - Sections 5 and 8; Banking Regulation (Amendment) Act, 1956 - Sections 12; Banking Regulation (Amendment) Act, 1959 - Sections 17 and 18; Banking Regulation (Amendment) Act, 1968 - Sections 10A and 10A(5); Banking Regulation (Amendment) Act, 1984 - Sections 18, 21, 22(3), 24, 30 and 227; Banking Laws (Miscellaneous Provisions) Act, 1965; Companies Act, 1956 - Sections 58A; Companies (Acceptance of Deposits) Rules, 1975 - Rules 2 and 3; Companies (Acceptance of Deposits) (Amend

Reported in : [1987]62CompCas769(Delhi)

challenge the constitutional validity of Chapter II-C read with section 58B (5A) of the Reserve Bank of India Act, 1934, introduced by the Banking Laws (Amendment) Act, 1983 (Act 1 of 1984) (to be called 'the impugned … support the necessity for the impugned legislation. The suggestion was made that because of the failure of Sanchaita Finance Firm, resulting in ruination of a large number of depositors as reported in State of West Bengal v. … The result was that Parliament had to step in by incorporating in 1974 section 58A in the Companies Act of 1956. The object of enacting

K.J. Joseph and ors. Vs. Income-tax Officer, a Ward

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 1974 - Sections 2(2), 2(6), 2(7) and 2(8); Constitution of India; Income Tax Act - Sections 4, 10(1), 66 and 110; Finance Act, 1973

Reported in : [1980]121ITR178(Ker)

Schedule of the Finance Act, 1973 ; and also Sections 2(2), 2(7)(b)(ii), 2(8)(e) and Part IV of the Finance Act, 1974. Section 2(6) and 2(7)(e) of the Finance Act, 1973, provides as follows : '2. (6) In the cases … or Sub-section (2) of Section 176 of the said Act or in computing the 'advance tax' payable under Chapter XVII-C of the said Act, at the rate or rates in force,-- (a) the net agricultural income shall … Gopalan Nambiyar, C.J. 1. These writ petitions attack the constitutional validity of Section 2(6), 2(7)(e) and

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

under Section 194B or under any other provision. He contends that the intent of amending Section 74A by Finance Act, 1974 by incorporating sub-section (3) was to entitle the race horse owners to carry forward and set off loss … while making payment of 'stake money' to the owners of the horses as required under the provisions of Chapter - XVII/Section 194B of the Income Tax Act, 1961 (hereinafter referred to as 'Act' for short) and as … 1. Petitioners in W.P.Nos.6565-6568/2013, 6651-6652/2013 and Petitioner in W.P.No.6674/2013 are Turf Clubs of