Advanced Search Results

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 … has observed that the default was noticed as a result of scrutiny of annual return in Form No. 24 filed on 26.7.1997.The correspondence of revenue authorities with the assessee-company in November 1997 indicates that details were being

Sunita Finlease Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Nagpur

Subject : Direct Taxation

Reported in : (2006)100TTJ(Nag.)851

Ltd. v. Dy. CIT (2002) 74 TTJ (Hyd) 261, decision of Tribunal, Lucknow Bench reported as Commercial Motors Finance Ltd. v. Asstt. CIT (2002) 76 TTJ (Lucknow) 918 and the assessee's agitation before the authorities below that … on the facts and in the circumstances of the present case having regard to the provisions of Interest-tax Act, 1974 : 1. The orders of the AO and GIT(A) are erroneous, bad in law, arbitrary, unjust, invalid, non-speaking … provisions of the Interest-tax Act, 1974 and quantum order and order under Section 17 should be cancelled/quashed. 2. The learned AO has erred in making … not been disposed of till date. An application under Section 17, dt. 24th July, 2005 has been filed before the learned CIT(A) which application was

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

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 … Section 74A would be applicable read with Section 2(24)(ix) and the taxability is sought to be brought under Section 24 115BB wherein the ‘income from the activity of owning and maintaining race horses’ is excluded. He would contend

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 … the two classes of HUFs has rational nexus with the object of preventing avoidance of taxes by HUFs. 24. That an HUF with one member, with a particular wealth or income, had been subjected to a higher

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 … and other game of any sort" as defined under section 194B of the Act. 38. Sub-clause (ix) of sub-section (24) of section 2 was inserted by the Finance Act, 1972, with effect from 01.04.1972. A perusal of the

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 … the gross amount. However, such income under the Income Tax Act is required to be computed and, therefore, Section 24 represents computed income. This analogy has been multiplied by way of illustrations by the learned Counsel in respect

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 … increasedproportionately, and therefore, 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 … 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

Commissioner of Wealth-tax Vs. Girdhari Lal

Court : Delhi

Subject : Direct Taxation

Acts : Finance Act, 1965 - Sections 68, 68(1) and 68(3); Wealth Tax Act, 1957 - Sections 2; Income Tax Act, 1961; Income Tax Act, 1922

Reported in : [1975]99ITR79(Delhi)

68(1) is further clarified in a similar statute, namely, Finance (No. 2) Act, 1965. The relevant portions of Section 24 of this latter Act read as follows:'24. (1) Subject to the provisions of this section, where any person … assessed of the income-tax paid by the firm on the amounts disclosed voluntarily under Section 68 of the Finance Act, 1965, is a debt under Section 2(m) of the Wealth-tax Act, 1957, on the dates of valuation for … v. Income-tax Officer, : [1975]98ITR681(Delhi) (C.W. No. 927/73, decided on March 1, 1974). Both of us were parties to the said judgment. This contention was

Harvimder Singh Vs. Union of India and ors.

Court : Delhi

Subject : CustomsCriminal

Acts : Constitution of India - Article 22(5); Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 318

Reported in : 1990CriLJ270; 1990(1)Crimes514; 39(1989)DLT337

was also addressed to the Central Government, the detaining authority forwarded the file containing the representation to the Finance Minister through the Minister of State for Revenue on 21-12-83. The Minister of State for Revenue considered and … of the powers conferred by Section 3(1) of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (as amended) hereinafter referred to as Cofeposa, Shri K. L. Verma, Joint Secretary to the Government of India … there was two days' delay in the rejection of the representation on 24th June, 1980 and its communication to the jail authorities on 26th June,

Diljeet Singh Vs. Union of India (Uoi) and ors.

Court : Delhi

Subject : Criminal

Acts : Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 3(1), 3(2), 5, 7(1), 8(1), 10, 11 and 12(1); Displaced Persons (Compensation and Rehabilitation) Act, 1954 - Sections 24(1) and 33; Constitution of India - Articles 22(5), 77 and 77(3); Government of India (Transaction of Business) Rules, 1961 - Rule 3

Reported in : 1999CriLJ3021

the State Government to the Central Government was not considered by the Secretary (Revenue) in the Ministry of Finance and the continued detention of the petitioner, thereforee, is illegal.2. It is not in dispute that the detention … Capital Territory of Delhi under Section 3(1) of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (in short referred to as COFEPOSA Act) has challenged the same mainly on the ground that the report … (supra), the facts were that the Chief Settlement Commissioner had under Section 24(1) of the Displaced Persons (Compensation and Rehabilitation) Act, 1954 (in short referred