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Petrosil Oil Company Ltd. Vs. Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(17), 2(18), 2(18)(B), 18(5), 43(5), 66(1), 81, 104, 108, 139, 194, 246 and 259

Reported in : [1999]236ITR220(Bom)

is referred to in section 108 of the Income-tax Act, 1961, falls under section 2(6) (a) of the Finance (No. 2) Act, 1971. Section 2(6) (e) of the Finance (No. 2) Act, 1971, provides that 'all other words and expressions used in … of the assessee-company are held by the U.K. company as an agent or nominee of the U.S. company. 52. Learned counsel for the assessee also referred to the judgment of the Court of Appeal in England in

Commissioner of Wealth-tax Vs. V.T. Ramalingam and Others

Court : Chennai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 52(2) and 119; Wealth Tax Act, 1957 - Sections 5(1), 10(22), 13, 25(2) and 27(1)

Reported in : (1993)115CTR(Mad)225; [1993]201ITR839(Mad)

the words 'exclusively used by him for residential purposes' occurring in section 5(1)(iv) of the act by the Finance (No. 2) Act, 1971, with effect from April 1, 1972, to infer that the legislative intent was that exclusive user contemplated in … the assessee before the Tribunal, the Tribunal, referring to CWT v. Mrs. Avtar Mohan Singh [1972] 83 ITR 52, took the view that the exclusive user contemplated should be construed with reference to the purpose and not

Commissioner of Wealth-tax Vs. Smt. Saroja Devi Moda

Court : Orissa

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 5(1)

Reported in : [1991]191ITR389(Orissa)

of the Act. The amended provision having come into force with effect from April 1, 1972, by the Finance (No. 2) Act, 1971, learned standing counsel for the Department fairly states that the present case will be governed by the amended … the assessee in respect of his interest in the property situated at 52, Burtolla Street, Calcutta?'2. From the orders passed by the different authorities as … 1. These are references under Section 27 of the Wealth-tax Act, 1957 (hereinafter referred to as 'the Act'), wherein the Income-tax Appellate Tribunal, Cuttack

Shyam Sunder Lal Khemka Vs. Wealth-tax Officer.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Subject : Direct Taxation

Reported in : (1983)6ITD44(Chd.)

wealth of the assessee in terms of sub-section (7) of section 4 of the Act inserted by the Finance (No. 2) Act, 1971, with effect from 1-4-1972. The assessee felt aggrieved by this action of the WTO and went up in

Commissioner of Income-tax Vs. Coromandel Fertilisers Ltd.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(15), 4(3), 10(5) 10(6), 17, 17(3), 28, 29, 30, 31, 32, 33, 33(1), 33(1)(B), 34, 35, 35A, 36, 37, 38, 39, 40, 40A, 41, 42, 43, 43(1), 43(3), 43(6), 43A, 43A(1), 43A(2), 48 and 50

Reported in : [1985]156ITR283(AP)

40(a) by the Finance Act, 1968, with effect from April 1, 1969, and was again omitted by the Finance (No. 2) Act, 1971, with effect from April 1, 1972. These provisions are re-enacted with modifications in s. 40A with effect from … 82 of 1978 in favour of the assessee and against the Revenue. 52. Question No. 3 in R.C. No. 144 of 1977. 53. The assessee … enhanced cost of plant and machinery due to the devaluation 3. Whether in computing the disallowable perquisites under section 40(a)(v), the perquisites relating to employees whose salary is exempt from tax under section 10(6)(vii) of the I.T.

Assistant Commissioner of Income Vs. Hewlett Packard Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

contribution" and as such covered by residuary Clause 2(v) under Fart n of the First Schedule to the Finance (No. 2) Act, 1971. The Tribunal held that having regard to Clause 17 of the agreement between the companies the payments were … of the Double Tax Avoidance Agreement between India and Federal Republic of Germany would override the provision of Section 9 of the IT Act and merely because the payment was a lump sum payment, it cannot be

Asstt. Cit Vs. Hewlett Packard Ltd.

Court : Delhi

Subject : Direct Taxation

Reported in : (2002)75TTJ(Del)786

contribution' and as such covered by residuary clause 2(v) under Part II of the First Schedule to the Finance (No. 2) Act, 1971. The Tribunal held that having regard to clause 17 of the agreement between the companies the payments were … of the Double Tax Avoidance Agreement between India and Federal Republic of Germany would override the provision of section 9 of the Income Tax Act and merely because the payment was a lump sum payment, it cannot … 51 ITD 313 (Chd-Trib), N. V. Phillips v. CIT (1988) 172 ITR 521 (Cal), CIT v. Davy Eashmore India Ltd. (1991) 190 ITR 626 (Cal);

Cementation Patel Vs. Commissioner of Commercial Taxes

Court : Kolkata

Subject : Sales Tax

carrying on business as a contractor was at the material time registered as a dealer under the Bengal Finance (Sales Tax) Act, 1941. It was contended by the applicant in the various assessments to sales tax before … Act, 1941, as follows :Question No. (1) is answered in the negative and in favour of the applicant.Question No. (2) is similarly answered in the negative and in favour of the applicant.52. As to question No. (3) the … and he rejected the appeals.6. The applicant, being aggrieved, preferred revisions under Section 20(3) of the Bengal Finance (Sales Tax) Act, 1941, against the order

Bangalore Turf Club Limited Vs. Union of India

Court : Karnataka

Subject : Education

(By Sri S.S. Naganand, Sr. Counsel a/w Sri S.Sriranga, advocate) AND: ... Petitioner Union of India, Ministry of Finance, Department of Revenue, Government of India, North Block, New Delhi-110 001 Through the Secretary.1. 2 Central Board of … binding on the revenue. On account of I.T. authorities having levied tax by invoking sub- section (2) of Section 52 of the Act which related to tax on actual gains, even in cases where transaction was honest and

Bangalore Turf Club Ltd. Vs. Union of India

Court : Karnataka

Subject : Direct Taxation

are binding on the revenue. On account of I.T. authorities having levied tax by invoking sub-section (2) of section 52 of the Act which related to tax on actual gains, even in cases where transaction was honest and … not winnings of race horses because when Section 194B was introduced and sought to be amended, the then Finance Minister made a speech on the Floor of Parliament making it explicitly clear and indicating thereunder that by