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Pioneer Trading Syndicate Vs. Commissioner of Income-tax

Court : Allahabad

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Sections 24(9), 24(10), 24(11) and 24(15)

Reported in : (1979)12CTR(All)349; [1979]120ITR5(All); [1979]2TAXMAN469(All)

was reiterated before the Tribunal that all the three creditors had made disclosures before the CIT under the Finance (No. 2) Act, 1965, of the following amounts : Rs.(i) Sri Jagat Ram 20,000(ii) Smt. Gita Singh 20,000(iii) Smt. Viranwali 10,000 4. … rival submissions will depend upon the interpretation of the various provisions of the Finance (No. 2) Act of 1965. Section 24 of this Act was headed as 'voluntary disclosure of income'. It consists of sixteen sub-sections. Sub-section (1)

Anil Rice Mill Vs. the Commissioner of Income Tax

Court : Allahabad

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 68, 69, 131, 143(1) and 256(1); Finance (No. 2) Act, 1965 - Sections 24, 24(2) and 24(3); Benami transactions (Prohibition) Act, 1988

Reported in : (2005)199CTR(All)69; [2006]282ITR236(All)

Yamuns Prasad Kanhaiya Lal v. C.I.T. : [1981]130ITR244(SC) had held that the declaration Under Section 24(2) of the Finance (No. 2) Act, 1965 had to relate to income actually earned by the declarant and the Act granted immunity to has declarant

Premier Automobiles Ltd. and ors. Vs. Union of India (Uoi)

Court : Supreme Court of India

Subject : Commercial

Acts : Constitution of India - Articles 32; Motor Car (Distribution and Sale) Control (Amendment) Order, 1969; Industries (Development and Regulation) Act, 1951 - Sections 15, 15(1), 16, 18G, 18G(1) and 18G(2); Tariff Commission Act, 1951 - Sections 12; Distribution Control Order; Commission of Enquiry Act, 1952; Income Tax Act, 1961; Companies Act, 1956; Payment of Bonus Act, 1965 - Sections 2, 5, 6, 10, 11 and 15; Defence of India Rules - Rule 81(2); The Essential Supplies (Temporary Powers) Ordinance, 1946; Supply and Prices of Goods Act, 1950; The Essential Commodities Act, 1955 - Sections 3(2)

Reported in : AIR1972SC1690

at present, is compulsorily payable at the rate of 4% under Section 10 of the Payment of Bonus Act, 1965 should be allowed as a part of the cost because the manufacturers have to pay the same even … Rufus Wixon, Professor and Chairman of the Accounting Department, Wharton School of Finance and Commerce, University of Pennsylvania in 'The Accountants' Hand Book', and N.K. … of the case.13. We propose to deal with the first point relating to production capacity last. On point No. 2 the Commission was of the view that warranty expenses and bonus should appropriately be included in the return

Smt. Smitaben N. Ambani Vs. Commissioner of Wealth Tax

Court : Mumbai

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 5 and 27; Compulsory Deposit Scheme (IT Payers) Act, 1974 - Sections 3, 4, 5(10), 7, 7A, 8, 8(2) and 11; Finance (No. 2) Act, 1980; Banking Regulation Act, 1949; Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965 - Sections 114 and 114(1); Bombay Municipal Corporation Act, 1888; Income Tax Act - Sections 23(1), 154, 154(1) and 155; Wealth Tax Rules - Rule 1BB

Reported in : (2009)222CTR(Bom)225; [2009]181TAXMAN233(Bom)

to the recipients would be against the concept of the annuity itself.It may be mentioned that by the Finance (No. 2) Act, 1980, Section 7A was inserted in the Compulsory Deposit Scheme Act, 1974, w.e.f. 1st April, 1975. Section 7A … the property may fetch. For example, Section 114 of the Maharashtra Municipal Councils, Nagar Panchayats and Industrial Townships Act, 1965, rateable value is to be determined under Section 114. The relevant part of which is in the following … the case of Nirlon Synthetic Fibres & Chemical us. Municipal Corporation (2002) 104 (1) Bom. L.R. 762 wherein in para 20 this Court observed as

Radheshyam Tibrewall and Shree Ganeshdass Oil and Rice Mills Vs. Commi ...

Court : Guwahati

Subject : Direct Taxation

Acts : Finance (No. 2) Act, 1965 - Sections 24

of the disclosure petitions filed by Smt. Swati Devi and Smt. Bhagwati Devi under Section 24 of the Finance (No. 2) Act, 1965. The Tribunal held that the amount of taxes due on the disclosed income had been paid by the

Commissioner of Income-tax Vs. Calcutta Steel Co. Ltd.

Court : Kolkata

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Section 154; ;Finance (No. 2) Act, 1967 - Section 2(4); ;Income Tax (Determination of Export Profits) (No. 2) Rules, 1967

Reported in : (1985)48CTR(Cal)146,[1985]153ITR488(Cal)

:For the assessment year 1967-68, the ITO had granted rebate to the assessee under Section 2(4)(a) of the Finance (No. 2) Act, 1967, in respect of its export sales and profits up to June 5, 1966. In granting the rebate, … that section has now been omitted with effect from April 1, 1965, as a result of the Finance Act, 1965. From what has been said above, it is clear that the question whether Section 17(1) of the Indian

Commissioner of Income-tax Vs. Andhra Cotton Mills Ltd.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 32, 32(1), 34, 34(1), 80J, 139, 139(5), 143 and 256

Reported in : (1996)133CTR(AP)398; [1997]228ITR30(AP)

to furnish the requisite particulars for computing the depreciation allowance. Sub-section (9) of section 139, introduced by the Finance (No. 2) Act, 1980, with effect from September 1, 1980, allows the Income-tax Officer to give an opportunity to the assessee … observe that the Bench did not notice the circular of the Central Board of Revenue dated August 31, 1965, which directed that 'where the required particulars have not been furnished by the assessee and no claim for … 1980-81 and 1981-82, respectively, the Income-tax Officer allowed admissible depreciation of Rs. 10,22,128 and Rs. 11,01,158 for the two assessment years, respectively, observing that the

C.P. Ohrie Vs. Accountant-general and ors.

Court : Karnataka

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 10(10A); Central Civil Services (Pensions) Rules, 1972 - Rule 37 and 37A; Civil Pensions (Commutation) Rules; Constitution of India - Articles 226 and 227

Reported in : [1981]127ITR122(KAR); [1981]127ITR122(Karn)

course of the arguments, reference was made to the Notes on clauses while introducing Section 10(10A) by the Finance (No. 2) Act of 1965 by which the provision was given retrospective effect from the date the I.T. Act, 1961, came

P. Gangadharan Pillai Vs. Controller of Estate Duty, Ernakulam.

Court : Kerala

Subject : Direct Taxation

Reported in : [1968]70ITR640(Ker)

this context, note that section 10 of the Act has been amended by section 69 of the Finance Act, 1965, by adding the following proviso to section 10 :'Provided further that a house or part thereof taken under … of the donor on account of the mere fact that the donor resided therein along with the donee.Question No. 2 in I. T. R. No. 19 of 1966 :- The applicants learned counsel submitted that his client had

P. Gangadharan Pillai Vs. Controller of Estate Duty, Ernakulam

Court : Kerala

Subject : Property

Acts : Estate Duty Act, 1953 - Sections 9, 10 and 64(3)

Reported in : AIR1968Ker295

this context, note that Section 10 of the Act has been amended by Section 69 of the Finance Act, 1965, by adding the following proviso to Section 10:'Provided further that a house or part thereof taken under any … the donor on account of the mere fact that the donor resided therein along with the donee.7. Question No. 2 in I. T. R. No. 19 of 1966. The applicant's learned counsel submitted that his client had never