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Jamnaprasad Kanhaiyalal Vs. Commissioner of Income Tax, M.P., Bhopal

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 68, 139, 256 and 257; Voluntary Disclosures of Income and Wealth Act, 1976 - Sections 18; Indian Income Tax Act, 1922; Finance Act, 1965 - Sections 24, 24(1), 24(3), 24(6) and 24(8)

Reported in : AIR1981SC1759; (1981)23CTR(SC)146; [1981]130ITR244(SC); (1981)3SCC441; [1981]3SCR849

1. I agree. The acceptance of a disclosure statement made by a declarant under Section 24 of the Finance (No. 2) Act, 1965 cannot confer immunity on another person from tax liability in respect … declarant is a company, at the rates specified in Paragraph F,of Part I of First Schedule to the Finance Act (X of 1965) as if such amount were the total income of the declarantSub-section (8) on which strong … any room for doubt, the legislature has introduced Section 18 in the Voluntary Disclosures of Income and Wealth Act, 1976 (Act No. 8 of 1976) which specifically provides that save as otherwise provided in the Act, nothing contained

Test Claimants in the Franked Investment Income Group Litigation Vs. C ...

Court : UK Supreme Court

Subject : Land Acquisition

such cases: para 260. It was not open to the Revenue to rely on section 320 of the Finance Act 2004 ("Section 320 FA 2004") or section 107 of the Finance Act 2007 ("Section 107 FA 2007") to … from six to three years, in addition eliminated the special advantage for claims in mistake previously introduced by section 24(5) of the Finance Act 1989, delaying the commencement of the limitation period for such claims until the claimants

Laherchand Dhanji Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 24, 28 and 68

Reported in : [1995]213ITR145(Bom)

Lal : [1984]145ITR183(SC) : 'This court has expressly observed that there is nothing in section 24 of the Finance Act which prevents the Income-tax Officer, if he were not satisfied with the explanation of the assessee about the … having made a disclosure of the amount of Rs. 25,000 under the Voluntary Disclosure of Income and Wealth Act, 1976, it was not open to the Income-tax Officer to examine the genuineness of the said amount in the

income-tax Officer Vs. Surjan Singh

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1983)3ITD438(Delhi)

Section 2(14), Sub-clause (iii), which actually excludes agricultural land in India has undergone a vital change by the Finance Act, 1970. The original provision merely mentioned the exclusion of agricultural land in India but with effect from 1-4-1970 … relied on the decision of the Tribunal in Deoki Nandan & Sons' case [IT Appeal No. 3850 of 1976-77 and 1583 of 1978-79, dated 18-2-1980]. He further brought to our notice the decision of the Andhra Pradesh

inspecting Assistant Vs. Goodricke Group Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Direct Taxation

Reported in : (1985)12ITD1(Kol.)

the provisions in the Bill, the Board's Circular No. 202 dated 5-7-1976 explaining the provisions introduced by the Finance Act, 1976, relating to direct taxes and extract from Taxes & Incentives (a guide for investors) published by Indian Investment … according to him, the Tribunal has not reviewed its order. It has exercised its power of rectification under Section 254(2) of the Income-tax Act, 1961 ('the Act'), judicially. It is pointed out that it is Shri Bagchi, … v. CIT [1953] 23 ITR 82. The subject-matter of consideration was Section 24(2) of the Indian Income-tax Act, 1922 ('the 1922 Act'). The expression, inter

Madras Bar Association Vs. Union of India and anr.

Court : Supreme Court of India

Subject : Direct Taxation

appellate authority, against orders passed by the Board. With introduction of Service Tax, under Chapter V of the Finance Act, 1994, CEGAT was conferred the jurisdiction to hear appeals in cases pertaining to service tax disputes as well. … Act, 2005 (hereinafter referred to as, the NTT Act). Simultaneously, the constitutional validity of the Constitution (Forty-second Amendment) Act, 1976 has been assailed, by asserting, that the same violates the basic structure of the Constitution of India (hereinafter … appeals and references, pertaining to direct/indirect taxes, pending before the High Court, would stand transferred to the NTT. Section 24 of the NTT Act provides for an appeal from an order passed by the NTT, directly to the

Commnr. of Income Tax-i, Ahmedabad Vs. Gold CoIn Health Food Pvt. Ltd.

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(24), 5(1), 72, 271 and 271(1); Finance Act, 2002; Wealth Tax Act - Sections 18

Reported in : (2008)218CTR(SC)359; [2008]304ITR308(SC); JT2008(9)SC312; 2008(11)SCALE492; (2008)9SCC622; 2008(2)LC1144(SC); 2008AIRSCW5841; 2008(6)Supreme1; 2008(11)SCALE492.; [2008] 12 SCR 179

income is a loss. This question has to be considered in the background of the amendment made by Finance Act, 2002 (in short `Finance Act') w.e.f. 1.4.2003 in Explanation 4 to Section 271(1)(c)(iii) of the Act. In Virtual's … 2002 w.e.f. 1st April, 2003 in Explanation 4 to Section 271(1)(c)(iii) - Period of dispute being 1st April, 1976 to 1st April, 2003 - Reference made expressing doubt about the correctness of the Judgment of Virtual Soft … were the total income.9. Reference to the Department Circular No. 204 dated 24.7.1976 reported in 1977 (110) ITR 21 (St.) has also substantial relevance. Same

Glaxo Laboratories (India) Ltd. Vs. Second Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (1986)18ITD226(Mum.)

84 ITR 661 observed that it was well recognized that specific dates in the 1961 Act and the Finance Act, 1955, had reference to assessment years and had nothing to do with the accounting years of an assessee … excess of Rs. 5,000 was includible. However, Circular No. 445 dated 31-12-1985-[1986] 24 Taxman (St.) 111 exempted all expenditure in a recognised public hospital in … question whether provisions of Section 40A(8) of the Income-tax Act, 1961 ('the Act') are applicable to assessment year 1976-77, irrespective of previous year followed by the assessee. A Bombay Bench had expressed the opinion that it would,

Mahindra Ugine Steel Co. Ltd. Vs. the Union of India (Uoi) and ors.

Court : Mumbai

Subject : Customs

Reported in : 1986(10)ECC354

of 1.5th March, 1976 however, certain entries in the Customs Tariff were amended under the provisions of the Finance Act, 1976.3. As a result of this amendment a new item 63(30) was substituted for the previous item 63(30). Under … charged the full duty payable under tariff item 1SE. The learned single Judge relied upon the provisions of Section 24 of the General Clauses Act, 1897 and held that the old exemption notification continued to apply to the

Ms. the Windsor Castle, Kodimatha, Kottayam, Represented by M.O. Asram ...

Court : Kerala

Subject : Service Tax

and the scope of the statute was clarified by introducing a ‘proviso’ to Section 4(2) as per the Finance Act, 2007 w.e.f. 01.04.2007, making it clear that no luxury tax shall be payable for such charges received in … 1. Constitutional validity of the Kerala Tax on Luxuries Act 1976 (herein after referred to as the ‘KTL Act’), particularly Sections 4, 10, 15 and 16 forms the majo0r … the balance/deficit Court fee has been satisfied as per the memo dated 24.10.2011. No particular assessment order is under challenge in this writ petition and