Advanced Search Results

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

Commissioner of Income-tax Vs. S.B. Oil Industries Pvt. Ltd.

Court : Punjab and Haryana

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80B, 80B(5), 80J, 80J(1), 80J(3), 143(3) and 256(2); Finance (No. 2) Act, 1980 - Sections 80I; Direct Taxes (Amendment) Act, 1974 - Sections 80HH and 80HH(9);

Reported in : (2006)203CTR(P& H)218; [2005]274ITR495(P& H)

Section 80HH of the Income-tax Act, 1961, as it stood prior to insertion of Section 80I by the Finance (No. 2) Act, 1980, with effect from April 1, 1981, originally included only Section 80J. Section 80J providing for deduction in … total income by the amount of deduction under Section 80HH of the Act by the Direct Taxes (Amendment) Act, 1974, with effect from April 1, 1974, was inserted. Section 80I was inserted in its present form by the

Commissioner of Wealth-tax Vs. Biswajit Samonta

Court : Patna

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 5, 5(1) and 7; Wealth Tax Rules, 1957 - Rule 1D; Compulsory Deposit Scheme (Income-tax Payers) Act, 1974 - Sections 7A; Finance (No. 2) Act, 1980; Banking Regulation Act, 1949

contained in Section 7A of the Compulsory Deposit Scheme (Income lax Payers) Act, 1974, us introduced by the Finance (No. 2) Act, 1980, C.D.S. would be exempt from being included in the assessce's wealth, Section 7A reads as under (see

Sahara India Savings and Investment Corporation. Ltd. Vs. Asstt. Cit

Court : Allahabad

Subject : Direct Taxation

Reported in : [2001]79ITD56(NULL)

Finance Company as defined in section 2(5B) & (vi) of the Interest Tax Act, as amended by the Finance (No. 2) Act of 1991.3. We have heard the parties and the brief facts necessary for the decision of the issue … such debentures must be treated as interest on investments, which fall outside the purview of the Interest Tax Act, 1974, and not as interest on loans and advances taxable under the Interest Tax Act, 1974.'(ii) The Karnataka Bank

J.P. Tobacco Products Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Madhya Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 80HH, 80HH(9), 80I and 80J; Finance (No. 2) Act, 1980; Direct Taxes (Amendment) Act, 1974

Reported in : (1997)140CTR(MP)329; [1998]229ITR123(MP)

or 80).6. Sub-section (9) of Section 80HH, as it stood prior to insertion of Section 80I by the Finance (No. 2) Act, 1980, with effect from April 1, 1981, originally included only Section 80J. Section 80J providing for deduction in … total income by the amount of deduction under Section 80HH of the Act by the Direct Taxes (Amendment) Act, 1974, with effect from April 1, 1974, was inserted. Section 80I was inserted in its present form by the

Commissioner of Income-tax Vs. Nedungadi Bank Ltd.,

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 14, 29 and 260A; Interest Tax Act, 1974; Finance (No. 2) Act, 1991 - Sections 2(7); Interest-tax (Amendment) Act, 1991; Reserve Bank of India Act, 1934 - Sections 42(1B)

Reported in : [2009]312ITR96(Ker)

of the Tribunal holding that interest-tax is not payable under the Interest-tax Act, 1974, as amended by the Finance (No. 2) Act of 1991, on interest on Government securities received by the respondent-banks. We have heard senior counsel appearing for … C.N. Ramachandran Nair, J.1. These appeals filed by the Revenue under Section 260A of the Income-tax Act, 1961, are against the common order of the Tribunal holding that interest-tax is

Hira Lal Hari Lal Bhagwati Vs. C.B.i., New Delhi

Court : Supreme Court of India

Subject : CustomsCriminal

Acts : Code of Criminal Procedure (CrPC) - Sections 245 and 482; Constitution of India - Article 227; Indian Penal Code (IPC), 1860 - Sections 120B, 166 to 177 and 378 to 462; Customs Act, 1962 - Sections 28, 111, 112A and 130E; Finance (No. 2) Act, 1998 - Sections 90(2), 90(4) and 91; Wealth Tax Act, 1957; Gift Tax Act, 1958; Income Tax Act, 1961; Interest Tax Act, 1974; Expenditure Tax Act, 1987; Central Excise Act, 1944; Customs Tariff Act, 1975; Central Excise Tariff Act, 1985; Foreign Exchange Regulation Act, 1973; Narcotic Drugs and Psychotropic Substances Act, 1985; Terrorists and Disruptive Activities (Prevention) Act, 1987; Prevention of Corruption Act, 1988

Reported in : AIR2003SC2545; 2003(2)ALD(Cri)292; 2003(2)ALT(Cri)142; 2003(51)BLJR1697; 2003CriLJ3041; 2003(3)CTC356; (2003)182CTR(SC)1; 104(2003)DLT699(SC); 2003(87)ECC473; 2003(155)ELT4; (2003) 5 SCC 257

Our attention was also drawn to the Text of the Kar Vivad SamadhanScheme, 1998, under Chapter IV of Finance (No.2) Act, 1998. Our attention wasalso drawn to Sections 86 to 98 of the said Scheme which are relevant for … 1957)or the Gift-tax Act, 1958 (18 of 1958) or the Income-tax Act, 1961(43 of 1961) or the Interest-tax Act, 1974 (45 of 1974) or theExpenditure-tax Act, 1987 (35 of 1987).'16. Sub-clause (j) of Section 87 defines 'indirect tax

Discount and Finance House of India Ltd. Vs. S.K. Bhardwaj, Cit and or ...

Court : Mumbai

Subject : Direct Taxation

Acts : Interest-Tax Act, 1974 - Sections 2, 2(5B), 2(7), 4, 8(2), 20 and 26C; ;Companies Act - Sections 370 and 372; Banking Regulation Act, 1949 - Sections 29; Income Tax Act, 1961 - Sections 11(5) and 13(1); Finance (No. 2) Act, 1991

Reported in : 2003(3)ALLMR621; 2003(3)BomCR283; (2003)180CTR(Bom)278; [2003]259ITR295(Bom); 2003(2)MhLj772

on promissory notes/bills of exchange, but the Legislature expressly excluded interest on securities. He contended that by the Finance (No. 2) Act of 1991, the above express exclusion was omitted and, therefore, after October 1, 1991, the legislative intent was … determination is : Whether interest on debentures, bonds and securities, is taxable under Section 5 of the Interest-tax Act, 1974 ?Facts :2. The petitioner is a company incorporated under the Companies Act, 1956. It was promoted by the

State of Rajasthan Vs. Uka and ors.,

Court : Rajasthan

Subject : Tenancy

No. 1 was mortgaged to Bank was put for open auction. In the open auction on 19.3.94 respondent No. 2 Manoj Kumar who is not a member of Scheduled Caste/Scheduled Tribe purchased the same by offering the highest … institutional thereto came into force on 21.9.1974 in the name of 'Rajasthan Agricultural Credit Operations (Removal of Difficulties) Act, 1974' (hereinafter referred to as 'the Act of 1974') with statement of objects and reasons, as follows:One of the … therein which inhibit the entry of commercial Banks into the field of financing of agriculture. It will, therefore, be necessary to modify these laws for … of the Act of 1955 is to safeguard the interest of weaker sections of the society. Sections 42, 46-A and 49-A of this Act restrict

Shri S.N. Agrawal, (indl) Vs. Commissioner of Wealth-tax

Court : Allahabad

Subject : Direct Taxation

Acts : Wealth Tax Act, 1957 - Sections 2, 2(1), 2(2), 5 and 27(1); Compulsory Deposit Scheme (Income Tax Payers) Act, 1974 - Sections 3, 4 and 7A; Banking Regulation Act, 1949; Finance (No. I) Act, 1980; Income Tax Act

Reported in : (2005)198CTR(All)396; [2006]280ITR263(All)

interest and its repayment had been specified. Section 7A of the 1974 Act, which was inserted by the Finance (No. I) Act of 1980 with effect from 1.4.1981, had granted exemption under Section 5 of the Act by … case, the Tribunal was right in holding that the amounts under the Compulsory Deposit Scheme (Income Tax Payers) Act, 1974 constituted an asset within the meaning of Section 2(e) of Wealth Tax Act and were includible in the