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Adityapur Industrial Area Development Authority Vs. Union of India (Uo ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Finance Act, 2002; Income Tax Act, 1961 - Sections 10, 10(20), 10(20A), 28, 38 and 38(2); Bihar Industrial Areas Development Authority Act, 1974 - Sections 7 and 17; Cantonments Act, 1924 - Sections 3; General Clauses Act - Sections 3(3); Contract Act; Road Transport Corporation Act, 1950; Maharashtra Industrial Development Act, 1961; Constitution of India - Articles 243, 243P, 285, 289, 289(1), 289(2) and 289(3)

Reported in : AIR2006SC2375; (2006)202CTR(SC)464; [2006]283ITR97(SC); [2006(4)JCR202(SC)]; 2006(5)SCALE321; (2006)5SCC100; 2006(1)LC713(SC)

the Central Bank of India, Jamshedpur bringing to the notice of the Manager of the Bank that the Finance Act, 2002 had brought about changes in the Income Tax Act and while Section 10(20A) had been omitted, an … in this appeal by special leave.2. The appellant/Authority has been constituted under the Bihar Industrial Areas Development Authority Act, 1974 to provide for planned development of industrial area, for promotion of industries and matters appurtenant thereto. The appellant/Authority … the Deputy Commissioner of Income Tax, TDS Circle, Jamshedpur dated February 14, 2003 to the Manager of the Central Bank of India, Jamshedpur bringing to

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 … of an HUF filed a return under the Act before the WTO, who by his order dated September 20, 1977, (exhibit-A) completed the assessment as on March 31, 1977, at Rs. 5,83,100 and levied tax at the

Discount and Finance House of India Ltd. Vs. S.K. Bhardwaj, Cit and or ...

Court : Mumbai

Subject : Direct Taxation

Acts : Interest-Tax Act, 1974 - Sections 2, 2(5B), 2(7), 4, 8(2), 20 and 26C; ;Companies Act - Sections 370 and 372; Banking Regulation Act, 1949 - Sections 29; Income Tax Act, 1961 - Sections 11(5) and 13(1); Finance (No. 2) Act, 1991

Reported in : 2003(3)ALLMR621; 2003(3)BomCR283; (2003)180CTR(Bom)278; [2003]259ITR295(Bom); 2003(2)MhLj772

said circular (exhibit I to the petition), the petitioner filed a revision petition on July 22, 1997, under Section 20 of the Interest-tax Act, 1974, contending that the Dated Government Securities held by the petitioner did not represent … credit institution subscribes to Dated Government Securities, it does not intend to finance the borrower. It intends to acquire an asset in which it can … determination is : Whether interest on debentures, bonds and securities, is taxable under Section 5 of the Interest-tax Act, 1974 ?Facts :2. The petitioner is a company incorporated under the Companies Act, 1956. It was promoted by the

Nagpur University Officers' Association, through Its Secretary, Nagpur ...

Court : Mumbai

Subject : Constitution

Reported in : (2003)105BOMLR158

Post Scale Post Scale1. Registrar (Librarian) 1100-1600 Professor 1100-16002. Dy. Registrar - Finance Officer - 700-1250 Reader 700-1250 Development Officer - University Engineer - (Dy. … considerable long time. Pertinent it is to observe at this stage that Section 77-B of the Nagpur University Act. 1974, was widely amended on August. 11, 1978 and the amended provision was made effective from the same date. … the present Petition, we are concerned with the first two authorities i.e. the Senate and the Executive Council. Section 20 Sub-section (1) specifically states that the Senate shall be the principal authority for all financial estimates and budgetary

Core Health Care Ltd. Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Ahmedabad

Subject : Direct Taxation

by the learned Accountant Member.Further, I find that the aforesaid provision came into force in the statute by Finance Act, 1986, with retrospective effect from 1st April, 1974. Admittedly, that provision was not in existence while Hon'ble Supreme … a textile mill. In order to expand its spinning capacity and to renovate and modernise some of the sections of the mill, the assessee negotiated to import machineries from abroad. It was held that additional liability in … of ground No. 2(b)(i) of the appeal relating to inclusion of Rs. 200 lacs of non-convertible debentures which were already allotted on 23rd March, 1992,

State of Rajasthan Vs. Uka and ors.,

Court : Rajasthan

Subject : Tenancy

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 Act of 1955 is to safeguard the interest of weaker sections of the society. Sections 42, 46-A and 49-A of this Act restrict … 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

Satish Chandra Khandelwal Vs. Union of India and ors.

Court : Delhi

Subject : Civil

Acts : Delhi Municipal Corporation Act, 1957 - Sections 490(1)

Reported in : AIR1983Delhi1; ILR1981Delhi917

Corporation defaulted in deducting/remitting the amounts payable by the Corporation to employees under the Additional Emoluments (Compulsory Deposit) Act, 1974 thereby violating section 6 read with section 3(b) of the said Act. 4.The Corporation failed to fulfill its … with section 3(b) of the said Act. 4.The Corporation failed to fulfill its duties and prudently. managing its finances, including those of its Undertakings by incurring heavy deficits as indicated below: General wing of the Corporation (Rs. … .in lakhs) Year Revenue Expenditure Deficit. 1977-78 1149.89 1530.47 330.58 1978-79 1410.42 2071.97 661.55 1979-80(RE) 1584.93 2571.43 986.50 Delhi Electric Supply Undertaking (Rs. in lakhs).

New Okhla Industrial Development Authority Vs. Anand Sonbhadra

Court : Supreme Court of India

Subject : Land Acquisition

THE UPIAD ACT [For short, ‘the 1973 Act’].32. Chapter VII dealing with Finance, Accounts and Audit begins with Section 20. Section 20 provides for fund of the authorities. It reads as follows: “20. (1) The authority shall have … 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

Bank of Credit and Commerce Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1991)37ITD293(Mum.)

1976-77. This could never have been the intention of the legislature when it inserted Section 44C by the Finance Act 1976 with effect from 1-6-1976. Prior to insertion of Section 44C,head office expenses of non-residents were being allowed … dealt with seriatim.3. The first ground is that the CIT (Appeals) erred in rejecting the appellant's claim under Section 20 of the Act for deduction of proportionate expenses reasonably expended to earn interest on securities while computing income … allowed during a base period of 3 years from the assessment years 1974-75 to 1976-77 in the appellant's case because this was the first year

Delhi Cloth and General Mills Co. Ltd. and ors. Vs. Union of India (Uo ...

Court : Supreme Court of India

Subject : CommercialConstitution

Acts : Constitution of India - Articles 13, 14, 19, 19(1), 32, 38, 39, 46, 136, 226 and 285(1); Companies (Acceptance of Deposits) Rules, 1975 - Rules 2, 2-B, 3, 3-A, 3-A(1), 4, 5, 6 and 7; Companies Act, 1956 - Sections 3, 45(1), 58-A, 591 and 642; Companies (Amendment) Act, 1960; Companies (Amendment) Act, 1965; Companies (Amendment) Act, 1974; Reserve Bank of India Act, 1934 - Sections 45-J and 45-K; Rent Restriction Acts; Indian Trust Act, 1882 - Sections 20; Electricity (Supply) Act; Indian Trusts Act, 1882 - Sections 20; Joint Stock Companies Act, 1850; Joint Stock Companies (Amendment) Act, 1857; Indian Companies Act, 1913

Reported in : AIR1983SC937; [1983]54CompCas674(SC); (1983)2CompLJ281(SC); 1983(2)SCALE16; (1983)4SCC166; [1983]3SCR438

1978 and incidentally of Section 58A of the Companies Act, 1956 ('Act' for short) inserted by Companies (Amendment) Act, 1974 which came into force on February 1, 1975 is challenged. The challenge proceeds on diverse grounds which may … or of any State Government; (c) in unencumbered securities mentioned in Clauses (a) to (d) and (ee) of Section 20 of the Indian Trusts Act, 1882(2 of 1882).Provided that with relation to the deposits maturing during the year … and controllers of the private companies and how they utilised the corporate finances for their personal advancement. This report, led to the enactment of Companies