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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 … 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, … was applicable though the income assessable was for the accounting year ending 31-3-1936.11. In Rai Bahadur H.P. Banerjee v. CIT [1941] 9 ITR 137 (Pat.),

Mcdowell and Co. Ltd. Vs. Commercial Tax Officer

Court : Supreme Court of India

Subject : Direct TaxationSales Tax

Reported in : AIR1986SC649; (1985)2CompLJ137(SC); (1985)47CTR(SC)126; 1985(5)ECC259; [1985]154ITR148(SC); 1985(1)SCALE788; (1985)3SCC230b; [1985]3SCR791; [1985]59STC277(SC); 1986(1)LC595

99, replacing earlier legislation). Further it was pointed out that the capital gains tax legislation (starting with the Finance Act 1965) does not contain any provision corresponding to Section 460. The intention should be deduced, therefore, it was … sections in Australia and New Zealand (Australia, Income Tax Assessment Act 1936-51, Section 260, New Zealand, Income Tax Act 1976, Section 99, replacing earlier legislation). Further it was pointed out that the capital gains tax legislation (starting with the … a fresh notification under s. 4; (iii) The Validating Act violated Art. 31(2) of the Constitution inasmuch as it purported to authorise acquisitions without fresh

Commissioner of Income Tax, Ludhiana Vs. Shri Om Prakash

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(31), 4, 64(1) and 255(1); Income Tax Act, 1922 - Sections 16(3); Finance Act, 1976

Reported in : AIR1999SC2534; (1999)155CTR(SC)206; [1999]238ITR1044(SC); JT1999(5)SC104; 1999(4)SCALE275; (1999)6SCC349; [1999]3SCR1186

years of every person is charged for any assessment year at the rate or rates prescribed by the Finance Act. We may notice here the definition of the term 'person' which is defined in Section 2(31) of the … in Section 64(1)(i) & (ii) of the Income Tax Act, 1961 (as it stood prior to April 1, 1976). The conflict of judicial opinion of various High Courts with regard to connotation of that term gave rise

Virtual Soft Systems Ltd. Vs. Commissioner of Income Tax, Delhi-i

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28(1), 48, 143, 143(1), 143(1A), 260A, 271 and 271(1); Finance Act, 1975; Finance Act, 2002 - Sections 271; Taxation Laws (Amendment) Act, 1975; Finance Act, 1993; Finance Act, 1992; Finance Act, 1951; Income Tax Act, 1922 - Sections 23(5), 28 and 28(1); Constitution of India - Article 20(1)

Reported in : (2007)207CTR(SC)733; [2007]289ITR83(SC); JT2007(3)SC125; 2007(2)SCALE612; (2007)9SCC665

judgment in the Prithipal Singh's case holds good in respect of Section 271(1)(c) as it stood after the 1976 amendment and prior to its amendment by Finance Act, 2002. Contrary view is expressed in:i. P.R. Basavappa and … the Punjab and Haryana High Court pertaining to the assessment year 1970-71 was prior to the amendment of Finance Act, 1975 and therefore, was not applicable. For the same reason, the decision of this Court in affirming the … 2002, the Deputy Commissioner of Income Tax levied a penalty of Rs. 31,71,692.00. He distinguished the decision of the Punjab and Haryana High Court in

Commissioner of Income-tax Vs. Hongkong Oceans Shipping and Others

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43A, 44B, 160, 163, 172, 172(1), (2), (4) and (7)

Reported in : [1999]238ITR955(Mad)

by a non-resident which carries passengers, livestock, mail or goods shipped at port in India. Prior to the Finance Act, 1975, there was a further clause at the end of sub-section (1) of section 172 as follows : … two periods, namely, for the period between January 1, 1975 and May 31, 1975, on the basis of the voyage accounts and so far as … five tax cases arise out of orders passed in the case of five assessees for the assessment year 1976-77. In all the cases, the assessment orders were passed on identical terms except with regard to the actual

Association For Democratics Reforms Vs. Union Of India

Court : Supreme Court of India

Subject : Right to Information

establishing the double proportionality standard ...................................................... 103 b) Validity of the Electoral Bond Scheme, Section 11 of the Finance Act and Section 137 of the Finance Act ..................................................... 113 c. Validity of Section 154 of the Finance Act … of the People Act 19514, the Income Tax Act 19615, and the Companies Act 20136. A. Background 2. Section 31 of the RBI Act stipulates that only the RBI or the Central Government authorized by the RBI Act

Sundaram Textiles Ltd., Madurai Vs. Assistant Collector of Customs, Ma ...

Court : Chennai

Subject : Excise

Acts : Customs Act, 1962 - Sections 12, 15, 25, 46 and 68; Customs Tariff Act, 1975

Reported in : 1984(2)ECC265; 1983(13)ELT909(Mad); (1983)IIMLJ92

also further subject to Auxiliary duty of 20 per cent leviable under sub-section (1) of Section 32 of Finance Act, 1976 together with additional duty leviable under Section 3 of Customs Tariff Act. 4. By a notification No. 388 … by the said notification No. 388 dated 2-8-1976, was to remain in force upto and inclusive of March 31, 1977, and thereafter exemption was granted from time to time under various notification Nos. 439 dated 23-11-1976, No.

P. Paliwal and ors. Vs. Hindustan Zinc Limited and ors.

Court : Rajasthan

Subject : Service

1965 and Metal Corporation of India (Acquisition of Undertaking) Act, 1966 and Metal Corporation (Nationalization and Misc. Provisions) Act, 1976. The learned Single Judge observed that after re-acquisition retrospectively and vesting the same in the Central Government, the … of a Zinc smelter near Udaipur for producing electrolytic grade zinc and bye- products. However, for want of finances the Corporation was not able to complete the project it had undertaken. Construction work had come to a … respondent-HZL and consequently, the respondent-HZL is no longer Public Sector Undertaking under Section 617 of the Companies Act, 1956. This order has been passed by … and the Act of 1965 was declared to be violative of Article 31(2) of the Constitution of India because in the opinion of the High

The Gujarat State Financial Corporation, Ahmedabad Vs. Lotus Hotels Pv ...

Court : Gujarat

Subject : Company

Acts : State Financial Corporations Act, 1951 - Sections 24, 25(1), 25(2) and 30(1); Evidence Act - Sections 115; Constitution of India - Article 226

Reported in : AIR1982Guj198; (1982)2GLR49

apart from suffering a loss on account of delay will need extra finance to combat the increase in the cost of construction due to the … were clear and marketable. On 31st Aug. 1978 the competent authority under the Urban Land (Ceiling and Regulation) Act. 1976 granted permission to the respondent Company to create an equitable mortgage in favour of the appellant-Corporation for securing … xx xx (f) if for any reason it is necessary to protect the interest of the Financial Corporation.' Section 31 provides the machinery for recovering the loan or advance or any installment thereof from the industrial concern which

Burmah Oil Co. Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 237; ;Finance Act, 1964

Reported in : [1987]165ITR264(Cal)

rebate in accordance with the proviso to Paragraph D of Part I of the First Schedule to the Finance Act, 1964. After giving credit for the tax deducted at source, the tax payable was determined at nil.2. The … the petitioner was not covered by Section 237 of the said Act. By a letter dated July 1, 1976 Price Waterhouse Peat & Co. requested respondent No. 1 to issue refund within a week from the date … Act, 1961, for the assessment year 1964-65 (the accounting year ending March 31, 1964). From the assessment order, it appears that the income of the