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Rotork Controls India (P) Ltd. Vs. Commissioner of Income Tax, Chennai

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 30 to 39, 40A(1), 40A(7) and 145; Companies Act; Finance Act, 1975; Income Tax Act, 1922 - Sections 10(2)

Reported in : (2009)223CTR(SC)425; [2009]314ITR62(SC); JT2009(6)SC637; 2009(7)SCALE456; [2009]180TAXMAN422(SC); 2009AIRSCW4902

the High Court was affirmed by this Court. It was held that Section 40A(7) which stood inserted by Finance Act, 1975 w.e.f. 1.4.73 has been given an overriding effect over Section 28 as well as Section 37 of the … in the warranty clause. For the assessment year 1991-92, the assessee made a provision for warranty at Rs. 10,18,800/- at the rate of 1.5% of the turnover. This provision was made by the assessee on account of

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)

is less ;'5. A bare reading of the above section as it stood before the amendment by the Finance Act, 1974, shows that gratuity payable to the employees of the Government, local authority or a statutory corporation was … Finance Act, 1974, has come into force with effect from April 1, 1975.7. In the light of the above discussion, the submissions made by learned … amount of Rs. 23,333 was not liable to be included in the total income of the assessee under Section 10(10){iii) of the Income-tax Act, 1961, in his assessment for the assessment year 1977-78 ?'2. The assessee is an

Commissioner of Income-tax, Bangalore Vs. Venkateswara Hatcheries (P) ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act - Sections 2(45), 3, 7, 10(27), 32A(2), 33(1), 43A, 80JJ, 88J and 256(2); Finance Act, 1964; Finance Act, 1975; Finance Act, 1976; Sales Tax Act; Central Excise Act

Reported in : AIR1999SC1225; [1999]237ITR174(SC); JT1999(2)SC338; 1999(2)SCALE257; (1999)3SCC632; [1999]2SCR177

the exemption to Rs. 10,000 in a year.12. Consequently, Section 10(27) of the Act was omitted by the Finance Act 1975 with effect from 1st April, 1976 and Section 80J was brought into the Act with effect from the

In Re: Dhv Consultants Bv

Court : Authority for Advance Rulings

Subject : Direct Taxation

Reported in : (2005)197CTRAAR105

Sections 2(24), 4, 10(6), 28 to 44C, 44D, 52(1), 52(2), 57, 90, 115A, 115A(1), 115A(3), 206C and 245Q(1); Finance Act, 1975; Income Tax Act, 1922 In Re: Stanley Keith Kinnett, (1999) 238 ITR 155 (AAR); Karamat Khan v.CIT, (1965) … K.D. Singh and A.S. Narang, Members For Appellant/Petitioner/Plaintiff: Sohrab Dastur and Niraj Sheth, Advs.Income Tax Act, 1961 - Sections 2(24), 4, 10(6), 28 to 44C, 44D, 52(1), 52(2), 57, 90, 115A, 115A(1), 115A(3), 206C and 245Q(1); Finance

Barkha Investmnt and Trading Co. Vs. Commissioner of Income Tax

Court : Gujarat

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 14, 28, 40A, 40A(1), 40A(8), 51, 56, 256(1), 260(1) and 263; Finance Act, 1975; Companies Act, 1956 - Sections 620A; Income Tax Act, 1922 - Sections 10, 12, 23A and 66(1); Banking Regulation Act, 1949; Reserve Bank of India Act, 1934 - Sections 45I, 45J, 45K, 45L and 45Q; Hire-Purchase Act, 1972 - Sections 2; Industrial Development Bank of India Act, 1964 - Sections 2

Reported in : (2006)200CTR(Guj)342; [2006]281ITR316(Guj)

to the history of Section 40A(8) of the Act at the time of introduction in the statute by Finance Act, 1975 it was held that the intention of the legislature can be truly ascertained after taking into account totality … assessee, an investment company, its dividend income is part of its profits and gains chargeable to tax under section 10 of the Indian Income-tax Act, 1922 ?'31.1 The High Court held that 'when the assessee company held shares

Commissioner of Income-tax Vs. Pulikkal Medical Foundation Pvt. Ltd.

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(22) and 10(22A); Taxation Laws (Amendment) Act, 1970

Reported in : [1994]210ITR299(Ker)

the judgments interpreting Section 10(22A) have considerable relevance in interpreting Section 10(22A). Section 10(22A) was inserted by the Finance Act, 1970, with effect from April 1, 1970. The Notes on Clauses of the Bill relating to the insertion … who was running a hospital was entitled to exemption from payment of tax under the Kerala Building Tax Act, 1975. One of the objects of the petitioner was to give free medical and general health services to the

Modi Rubber Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court : Supreme Court of India

Subject : Excise

Acts : Central Excise Act, 1944 - Sections 4, 4(4); Central Excise Rules, 1944 - Rule 8(1); Finance Act, 1982 - Sections 47(2)

Reported in : 1996VAD(SC)153; 1996(56)ECC138; 1996(84)ELT173(SC); JT1996(5)SC307; 1996(4)SCALE516; (1996)4SCC573

Section 4 of theAct has been set at rest specifically by the Explanation added to Section 4(4)(d)(ii) bythe Finance Act, 1982 with retrospective effect from 1.10.1975. Section 4(4)(d)(ii) with the added Explanation now stands as under:(d) 'value in

State Bank of India Officers' Association and Anr. Vs. Deputy General ...

Court : Himachal Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 10, 10(14) and 17(2); ;Finance Act of 1975; ;Direct Tax Laws (Second Amendment) Act, 1989

Reported in : [1993]200ITR517(HP)

(city) allowance exempt from income-tax under Section 10(14) of the 1961 Act, an Explanation was added by the Finance Act of 1975 with retrospective effect from April 1, 1962. The Explanation is as follows :'Explanation : For the

The Assam State Textbook Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Guwahati

Subject : Direct Taxation

Reported in : (2003)87ITD99(Gau.)

of Assam represented by the Governor of Assam, through the Secretary, Education Department, the Financial Commissioner and Secretary, Finance Department, and the Chairman, Board of Secondary Education, in their official capacity. The entire share capital is, therefore, … printing and publishing of textbooks as per the letter dt, 19th Aug., 1975, and file No. 184/26/75. In that case the CBDT held that the … all the 13 appeals is whether the assessee is entitled for exemption under Section 10(22) of the IT Act, 1961. Hence, we heard all the appeals together and disposing of the same by this common order.2. Mr.

Swedish Match Ab and anr. Vs. Securities and Exchange Board, India and ...

Court : Supreme Court of India

Subject : Company

Acts : Security and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 - Regulations 2, 2(2), 3, 7, 10, 11, 11(1), 12, 14, 15, 16, 20, 22(3), 44, 45 and 45(6); ;Constitution of India - Article 142; ;Essential Commodities Prices and Stocks (Display and Control) Order, 1967; Companies Act, 1956 - Sections 81(1)(A); Security and Exchange Board of India Act, 1992 - Sections 4(3), 11, 11A, 11B, 11B(3), 11B(4), 15A, 15H, 15I, 15T, 15Z, 24 and 30; Security and Exchange Board of India Ordinance, 1992; Code of Civil Procedure (CPC) - Order 41, Rule 33; Finance Act, 1975

Reported in : AIR2004SC4219; IV(2004)BC211; [2004]122CompCas83(SC); (2004)4CompLJ25(SC); JT2004(7)SC94; 2004(7)SCALE158; (2004)11SCC641; [2004]54SCL549(SC)

a tax avoidance case concerning capital transfer tax, the Court of Appeal were called on to construe the Finance Act 1975 Sch 5 para 6(7) as originally enacted. Counsel for the Inland Revenue put forward several alternative arguments on … not tenable.Therefore, if an Acquirer triggers either of the Regulations, i.e., Regulations 10, 11 or 12, he has to make a public announcement unless the … issued :'In view of the above the exercise of the powers conferred upon me under sub-section (3) of Section 4 read with Section 11B SEBI Act 1992 (hereinafter referred to as the Act) read with Regulation 44