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Petroleum India International Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2000)241ITR43(Mum.)

section, a deduction of the whole of such income, in computing the total income of the assessee." The Finance Act, 1974, amended s. 80-O retrospectively w.e.f. 1st April, 1972, to allow deduction only with reference to the income which … of the present case wherein it has been held that s. 80-O applies to income after deductions under Chapter VI-A i.e., deduction should be allowed after deducting the expenses from the gross receipt. Keeping in view the … technical and consultancy services rendered by it to the parties abroad ?" 2. The relevant facts, in this case, are that the appellant is an

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

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

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)

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. … 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 … 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 … challenges the legislative competence of Parliament to enact the said impugned provisions. 2. The newly incorporated section 45S of the Reserve Bank of India Act

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 … of the judgment given in Asuram v. Tehsildar, Sanchore reported in AIR 2000 Rajasthan 345.2. To understand the issue under consideration, it may be useful

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

Court : Kerala

collect Annual Administration Fee selectively from Self Financing Colleges invoking its power under Sec.36 of the Kerala University Act, 1974. c) to declare that Sec.24(x) authorizing collection of Annual Administration Fee is illegal and unconstitutional. d) Issue writ … the University is compelled to raise its own resources.7. Section 5(xi) of Chapter-II of the Kerala University Act, 1974, gives the power “to fix the … and it is not an exorbitant one.20. Ext.P3 though, is issued for revision of AnnualAdministration Fees to self finance/unaided colleges alone as the self financing /unaided colleges cover around 63.3% of the total number of colleges in … ERNAKULAMPRESENT THE HONOURABLE MR.JUSTICE BASANT BALAJI FRIDAY, THE 11TH DAY OF AUGUST 2023 / 20TH SRAVANA, 1945 WP(C) NO. 14471 OF 2023 PETITIONER: ASSOCIATION OF

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, … be a fertile ground to spawn 1 litigation. Born in the year 2016, the IBC this time around has given rise to the question as

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 … Ms. Sharda Aggarwal, J. By this writ petition under article 226 of the Constitution of India the petitioner has challenged the constitutional validity

P.P. Ummerkutty Vs. Assistant Commissioner of Income Tax

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 132, 132(1), 132A, 158BC, 158BFA, 158BFA(1), 158BFA(2) and 271(1); Finance Act, 1995 - Sections 158B to 158BH; Constitution of India - Articles 25 and 226

Reported in : (2005)199CTR(Ker)1

the abovementioned contention. Counsel submitted Sub-section (2) of Section 158BFA falls under Chapter XIV-B which was inserted by Finance Act, 1995. Chapter XIV-B deals with special procedure for assessment of search cases. Counsel submitted there is no illegality

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