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Steel Authority of India Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Nagpur

Subject : Direct Taxation

Reported in : (2006)100ITD29(Nag.)

amended from time to time and the provisions of Section 10(10)(ii) and (iii) have been introduced by the Finance Act, 1974. The various limits provided therein have been revised from time to time by notifications of Central Government and … Gwalior Rayon Silk Co. Ltd. v. CIT , (ii) Hero Honda Motors Ltd. v. ITO [2000] 112 Taxman 154 (Delhi)(Mag.), (iii) Gujarat Narmada Valley Fertilizers Co. Ltd. v. ITO [1999] 71 ITD 66 (Ahd.), (iv) Eicher Goodearth

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)

The Finance Act, 1974, was brought into force to remove anomalies in the above provision. Accordingly, after the Finance Act, 1974, Section 10(10) read as follows during the relevant assessment year 1977-78 :'(10)(i) any death-cum-retirement gratuity received under the revised … local authority or a statutory corporation was totally exempted from payment of income-tax, whereas any other gratuity notexceeding 15 days' salary for each year of completed service stood exempted subject to a maximum of twenty-four thousand rupees

Commissioner of Income Tax Vs. N.J. Pavri

Court : Mumbai

Subject : Direct Taxation

Reported in : (1999)153CTR(Bom)134

so calculated, whichever is less; 'A bare reading of the above section as it stood before amendment by Finance Act, 1974, shows that gratuity payment to employees of the Government, local authority or a statutory corporation was totally exempted … authority or a statutory corporation was totally exempted from payment of income-tax whereas any other gratuity not exceeding 15 days' salary for each year of completed service stood exempted subject to a maximum of twenty-four thousand rupees

Commissioner of Income-tax, Gujarat-i Vs. Lakhtar Cotton Press Co. (Pv ...

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 263; Finance Act, 1973 - Sections 2(7); Finance (Amendment) Act, 1974 - Sections 2(8)

Reported in : [1983]142ITR503(Guj)

may, however, state that in Reference No. 245 of 1978, the relevant section is s. 2(8)(c) of the Finance Act, 1974, and except for this difference, in substance, the question involved in that reference is the same because the … the decision of the Punjab High Court in Patel Cotton Co. Pvt. Ltd. v. State of Punjab [1964] 15 STC 865 (Punj) to which a reference is found in the decision of the Kerala High Court in

M. Natarajan Vs. State by Inspector of Police, Spe, Cbi, Acb Chennai

Court : Supreme Court of India

Subject : Criminal

Acts : Indian Penal Code (IPC) - Sections 120B, 420, 467, 468 and 471; Prevention of Corruption Act, 1988 - Sections 13(1) and 13(2); Finance Act, 1998 - Sections 86 to 98; Indirect Tax Act; Direct Tax Act; Conservation of Foreign Exchange And Prevention of Smuggling Activities Act, 1974; Kerala Sales Tax Act; Central Excise Act, 1944; Customs Tariff Act, 1975; Central Excise Tariff Act, 1985; Central Excise Tariff Act, 1986; Code of Criminal Procedure (CrPC) - Sections 239, 245 and 482; Customs Act, 1962 - Sections 28, 90(1), 127H, 132 and 136; Constitution of India - Article 246; Wealth Tax Act, 1957; Gift Tax Act, 1958; Income Tax Act, 1961; Interest Tax Act, 1974; Expenditure Tax Act, 1987

Reported in : (2008)217CTR(SC)1; 2008(120)ECC141; 2008(156)LC141(SC); 2008(226)ELT679(SC); JT2008(6)SC451; 2008(8)SCALE290; (2008)8SCC413; (2008)3SCC(Cri)507.

for clearance of the car, secondly in a scheme, namely, Kar vivad Samadhan Scheme, 1998 (KVSS) floated vide Finance Act No. 2 of 1998 which commenced from 1.9.1998, it was clearly provided that if a tax- payer settles … the prosecution under the Customs Act, 1962, an equal deterrent is emphasized under the provisions of the COFEPOSA Act, 1974 i.e. provisions for preventive detention. Such preventive detention prohibits smugglers from indulging in further smuggling activities. In the … at the instance of Central Bureau of Investigation, Chennai for offences under Sections 120B read with Section 420, 468, 471 IPC and Section 13(2) read … capacity 3000 CC bearing Engine No. 2320283150 2320283150 and Chassis No. JT 153-Jse 7 - 000727250 and had sought customs clearance under the condition of

Addl. First Income-tax Officer Vs. J.M. Shah

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1983)4ITD303(Mum.)

the assessee were allowed from salary income under Section 16(iv) of the Act, which was deleted by the Finance Act, 1974 with effect from 1-4-1975.7. The learned counsel then took us through the various papers under which the assessee … behalf of the assessee is that the deduction is claimed by him not under Section 16 but under Section 15 of the Act. According to him, the tax is upon income, profits and gains and it is not

Unit Trust of India, Mumbai and anr. Vs. P.K. Unny and ors.

Court : Mumbai

Subject : Direct Taxation

Acts : Interest Tax Act, 1974 - Sections 2, 2(5), 2(7), 3(1), 3(1C), 3(2), 4, 4(1), 4(2), 5, 6, 6(2), 7, 9, 9(1), 10, 10A, 18, 21, 26C, 28 and 119; Income-tax Act, 1961 - Sections 2(7A), 2(24), 2(28A), 2(45), 4, 5, 5A, 14, 15, 16, 24, 40, 43D, 44, 44AD, 44D, 115J, 116, 119 and 147; Companies Act, 1956 - Sections 4A; Finance Act, 1991; State Financial Corporations Act; Finance Act, 1988; Hotel Receipts Tax Act, 1980; Finance Act, 1980; Unit Trust of India Act, 1963 - Sections 9(2),19(1)(3), 19(3), 21, 22 to 25B, 25B(1) and 25B(2), 32, 32(1) and 52; Direct Tax Laws (Amendment) Act, 1987; Finance Act, 2000; Unite Trust of India (Amendment) Act, 1966 - Sections 2(1); Wealth Tax Act, 1957; Super Profit-tax Act, 1963; Companies (Profit) Surtax Act, 1964; Rent Control Act; Public Premises

Reported in : 2001(3)BomCR673; 2002(1)MhLj301

empowered to specify any other Institution, as it may think fit, to be a public Financial Institution. The Finance Act (No. 2) of 1991 came into force on and from 1st October 1991. Therefore, upto 1st October, 1991 … arise for determination in the aforesaid two Writ Petitions. A. Whether the interest tax under the Interest Tax Act, 1974 is a tax on income and, if so, whether interest accruing to UTI from loans advanced by it … income. That, it will include all receipts. He further contended that salaries constitute one head of income. That, Section 15 refers to gross salary whereas Section 16 refers to deductions from salaries. He, therefore, contended that if Section

Y.D. Nanje Gowda Vs. Union of India and anr.

Court : Karnataka

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957; Income Tax Act, 1961 - Sections 64; Finance Act, 1974 - Sections 14; Finance (Amendment) Act, 1976 - Sections 27; Constitution of India - Article 14

Reported in : ILR1985KAR955; [1985]152ITR618(KAR); [1985]152ITR618(Karn)

rates only retaining the clause in principle effected in the Finance Act of 1974. Section 2 of the Finance Act, 1974, also made corresponding amendments in the I.T. Act of 1961 (the 'I.T. Act'). 16. The annual Finance Bill … does not amount by which the net wealthexceed Rs. 10,00,000 exceed Rs. 5,00,000;(c) where the net wealth Rs. 15,000 plus 3 per cent. of theexceed Rs. 10,00,000 but does not amount by which the net wealthexceed Rs.

Amrit Lal Seth Vs. Union of India and anr.

Court : Delhi

Subject : CriminalCustoms

Acts : Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 3(1); Constitution of India - Article 22(5); Customs Act, 1962 - Sections 111

Reported in : AIR1987Delhi340; 28(1985)DLT396

complaint in that regard was sent to the Directorate of Revenue Intelligence. Communications were sent to Hon'ble the Finance Minister as well as to the Secretary, Delhi Administration, Delhi regarding denial of interview to an Advocate with … of the powers conferred by Section 3(1) of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 with a view to preventing him from smuggling goods and abetting the smuggling of goods. The petitioner challenges … was recorded by officers of the aforesaid Directorate on July 14 and 15, 1984. Simultaneously, one Jaswinder Singh, said to be an associate of the

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