Advanced Search Results

Agricultural Produce Market Committee, Narela, Delhi Vs. Commissioner ...

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(1), 10, 10(20), 10(26AAB) and 260A; Finance Act, 2002; Cantonments Act, 1924 - Sections 3; General Clauses Act, 1897 - Sections 3(31); Delhi Agricultural Produce Marketing (Regulation) Act, 1998 - Sections 5, 22(1), 22(2), 62 65, 88, 88(1), 88(2) and 88(3); Delhi Development Act, 1957; Payment of Bonus Act, 1965 - Sections 32; Constitution of India (Seventy-third Amendment) Act, 1992; Constitution of India (Seventy-fourth Amendment) Act, 1992; Constitution of India - Articles 243, 243P, 243 and 243ZF

Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540

were enjoying exemption from income tax under Section 10(20) of the 1961 Act prior to its amendment by Finance Act, 2002 w.e.f. 1.4.03.10. Prior to the amendment by Finance Act, 2002, Section 10(20) of the Income-tax Act, 1961 … Part IX, any law relating to Panchayats in a State immediately before commencement of the Constitution (Seventy-third Amendment) Act, 1992, which is inconsistent with the provisions of Part IX, shall continue to be in force until repealed by … stood outside the purview of Payment of Bonus Act, 1965. Under Section 32(iv) of the Payment of Bonus Act, 1965 it is stated that nothing

Dharamahi Polabhai Vs. Ramjibhai Jivabhai and anr.

Court : Gujarat

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 33, 137, 137(1), 137(2), 137(5), 138, 138(1), 138(2), 280(1), 297, 297(1) and 297(2); General Clauses Act - Sections 6

Reported in : [1975]98ITR85(Guj)

corresponded to sections 54 and 59B of the Act of 1922, respectively. 14. By section 32 of the Finance Act, 1964, section 137 of the Act of 1961 was omitted and by section 33 thereof section 138 was … payable by any assessee in respect of any assessment made either under this Act, or the Indian Income-tax Act, 1992 (XI of 1922), on or after the 1st day of April, 1960, the Commissioner may, notwithstanding anything contained

K.M. Vijayan and Others Vs. Union of India and Others

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(7), 2(24), (31) and (45), 3, 4 , 4(1), 5, 6, 7, 8, 9, 10(32), 14, 15, 16, 19(3), 17, 18, 19, 19(1), 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 64(1), 64(1A), 65, 80(L), (U), (CC) and (CCB), 88, 139, 159(6), 162, 171 and 171(1) and (9); Constitution of India - Articles 14 to 19 and 248

Reported in : [1995]215ITR371(Mad)

order or direction declaring the provisions of section 64(1A) of the Income-tax Act, 1961, as amended by the Finance Act, 1992, as illegal, beyond the scope of preventing avoidance of tax and inconsistent with the scheme of the Income-tax … section 16(3)(a)(i) and (ii) of the Indian Income-tax Act, 1922. The petitioner moved the Supreme Court under article 32 of the Constitution of India challenging the constitutionality of the said provisions on the grounds, viz., (i) that

Paramount Bio-tech Industries Ltd. Vs. Union of India (Uoi)

Court : Allahabad

Subject : Company

Acts : Securities and Exchange Board of India Act, 1992 - Sections 11A, 11AA, 11(2), 12, 12(1B), 12(2), 16, 16(1), 20, 24, 27 and 30 ; Securities and Exchange Board of India (Collective Investment Scheme) Regulations, 1999 - Regulations 5 and 12; Companies Act, 1956; Income-Tax Act, 1961; Indian Trusts Act, 1882; Securities Contracts (Regulation) Act, 1956 - Sections 2(h); Security Laws (Amendment) Act, 1999; Companies (Amendment) Act, 2000 - Sections 292A

Reported in : [2004]120CompCas18(All); (2004)2CompLJ446(All); [2004]49SCL77(All)

body to function under the overall administrative control of the Ministry of Finance, Central Government by a notification dated 12-4-1988. Later on SEBI was conferred … some of the regulations are violative of the parent Act viz. The Securities and Exchange Board of India Act, 1992 and also the Securities Contract (Regulations) Act, 1956, the Companies Act, 1956, the Income-tax Act, 1961, the Indian … Director and it is thus violative of Article 257 of the Companies Act.It may be mentioned that under Section 32 of the SEBI Act the provisions of the Act shall not be in derogation of any other law

Commissioner of Income-tax Vs. JaIn Construction Co. and ors.

Court : Rajasthan

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 40, 119, 145, 256 and 263; Income Tax (Amendment) Act, 1993; Finance Act, 1992

Reported in : [2000]245ITR527(Raj)

of law on the subject was still not satisfactory, thus Section 260A has again been substituted by the Finance Act of 1992, which reads as follows :'40. Notwithstanding anything to the contrary in Sections 30 to 38, the

Z.F. Steering Gear (i) Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Pune

Subject : Direct Taxation

Act was inserted by the Finance Act, 1991 with effect from 1-4-1991. It was subsequently amended by the Finance Act, 1992 with effect from 1-4-1993 and then by Finance Act, 1993 with effect from 1-4-1994/1-4-1995. The deduction under Section … under Section 80-IA in great detail, and disallowed it. He observed in his order (at pp. 28 and 32) that though the assessee company had been allowed, in the assessment order for assessment year 1995-96, to carry

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 … South Africa in Willis Faber Enthoven (Pty) Ltd v Receiver of Revenue 1992 (4) SA 202. But it had also been rejected by the common … FA 2007") to exclude DMG mistake claims, as these provisions purported to curtail the extended limitation period under section 32(1)(c) of the Limitation Act 1980 without notice and without providing any transitional arrangements to protect the right under

Life Insurance Corporation of India Vs. Joint Cit

Court : Mumbai

Subject : Direct Taxation

Reported in : (2002)74TTJ(Mumbai)624

securities is intended to be taxed under the provisions of the Interest Tax Act (45/1974) as amended by Finance Act, 1992. As stated earlier, exclusion of interest on securities from the taxability to Interest Tax Act led to ambiguity. … interest under the Act as the same could not be classified as interest on loans and advances under section 2(7) of the Interest Tax Act, 1974 (as amended by the Finance Act, 1994).4. Assessing officer in the … in securities. The title 'Investment, Loans and Management' to sections 27 to 32A of the Insurance Act, 1938 also suggests so.(3) 'Investment' generally does mean

Commissioner of Income-tax Vs. Soundararaja Finance Ltd.

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 32(1), 143(1) and 260A; Finance Act, 1995 - Sections 32; Finance Act, 1966; Finance (Amendment) Act, 1983

Reported in : [2006]283ITR559(Mad)

or profession.5. It is to be noted that the first proviso to Section 32 was omitted by the Finance Act, 1995 with effect from April 1, 1996. Prior to the omission, the first proviso as inserted by the … law are as under :(i) The assessee is a hire-purchase and lease finance company. The assessment year is 1992-93 and the corresponding accounting year ended on March 31, 1992. The assessee-company filed its return of income on

Hmt Ltd. Vs. Deputy Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT

Subject : Land Acquisition

Reported in : (1997)57TTJ(Bang.)39

of opening WDV is not permissible. The appellant claims that the statute was introduced w.e.f. 1984-85 by the Finance Act, 1983, which came into effect from 1st April, 1984, which meant that initial depreciation admissible for assessment years … favour of Revenue and against the assessee by the judgment of the Karnataka High Court dt. 13th April, 1992 in ITRC Nos.104 and 105 of 1987 in the assessees own case for asst. yr. 1981-82.Following the said … Lords in the case of Southern Railway of Peru vs. Owen (1957) 32 ITR 737 (HL), the assessee had not approached the question of setting … the asst. yr. 1983-84 or any earlier assessment year. These wordings of section in no way can be interpreted to imply that the provisions are