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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 … court in CIT v. Shree Engineers (D. B. I. T. Reference No. 38 of 1995, decided on January 10, 1996) and observed as under (page

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 … regards question No. 1, the making of a compulsory deposit was mandated in respect of persons specified in Section 3 of the Compulsory Deposit Scheme (IT Payers) Act, 1974 (hereinafter referred to as the 'said Act'). The said

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

All India Federation of Tax Practitioners and ors. and Indian Institut ...

Court : Mumbai

Subject : Service Tax

Acts : Finance (No. 2) Act, 1998 - Sections 68 and 116; Constitution of India - Articles 14, 19, 19(1) and 246(1); Service Tax Rules, 1994 - Rule 6 and 6(3)

Reported in : (2001)168CTR(Bom)24; [2002]256ITR401(Bom)

are associations of tax practitioners, chartered accountants and architects challenge the constitutional validity of Section 116 of the Finance (No. 2) Act of 1998. The Act envisages service tax at the rate of 5 per cent. of the value of … Board, : AIR1959SC582 ; Kamta Prasad Aggarwal v. Executive Officer, Ballabgarh, AIR 1974 SC 685 and R. R. Engg. Co. v. Zila Parishad, Bareilly, : … Ralla Ram v. Province of East Punjab , the Federal Court held that a tax on buildings under Section 3 of the Punjab Urban Immovable Property Tax Act, 1940, measured by a percentage of the annual value of

Commissioner of Income-tax Vs. N.J. Pavri

Court : Mumbai

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 10(10); Finance Act, 1974; Payment of Gratuity Act, 1972 - Sections 4

Reported in : [1999]237ITR472(Bom)

Finance Act, 1974, was brought into force to remove anomalies in the above provision. Accordingly, after the Finance Act, 1974, Section 10(10) read as follows during the relevant assessment year 1977-78 :'(10)(i) any death-cum-retirement gratuity received under the revised … referred the following question for the opinion ofthis court in respect of the assessment year 1977-78, under Section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts and in the circumstances of the case, the Tribunal … 1968. At that time, the assessee availed of full exemption of Rs. 30,000 under Section 10(10) as it then stood. In June, 1976, he retired

Vijay Madanlal Choudhary Vs. Union Of India

Court : Supreme Court of India

Subject : Land Acquisition

to be ‘or’ by the Explanation that has been brought about by way of the amendment made vide Finance (No.2) Act, 2019. It has been submitted that such an act would also be unconstitutional, as being enlarging … Consideration • The 2002 Act 19-22 • Preamble of the 2002 Act 23-24 • Definition Clause 25-36 • Section 3 of the 2002 Act 37-55 • Section 5 of the 2002 Act 56-70 • Section 8 of the … FERA or Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 197494 and the 1962 Act, being Acts which would not subsist alone or

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 … V.M. Rao (supra).18. Having heard the learned counsel for the parties, we find that under the 1974 Act, Section 3 enjoins upon every person who is assessable under the Income Tax Act in respect of the total income … 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

Goyal Trading Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Guwahati

Subject : Direct Taxation

Reported in : (1989)28ITD265(Gau.)

to the assessee against enquiries or verification of those facts. There was nothing in section 24 of the Finance (No.2) Act, 1965, which prevented the Income Tax Officer, if he was not satisfied with explanation of the assessee about … to amnesty to assessee against enquiries/verification of facts.for the relevant assessment year the original assessment was made on 30-9-1965 under the summary assessment scheme. After this, the assessing officer with the approval of Inspecting Assistant Commissioner reopened

Ram Chand Verma Vs. Union of India and ors.

Court : Delhi

Subject : CustomsCriminal

Acts : Constitution of India - Article 226; Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 3(1)

Reported in : 1989(16)DRJ211

the detention order dated 8-3-1986 passed by Shri K.L. Verma, Joint Secretary to Govt. of India, Ministry of Finance, Department of Revenue, Respondent No. 2 under Section 3(1) of the Conservation of Foreign Exchange & Prevention of … Revenue, Respondent No. 2 under Section 3(1) of the Conservation of Foreign Exchange & Prevention of Smuggling Activities Act, 1974 (for short 'the Act'). The detention order was passed by the detaining authority with a view to prevent

Mahindra D. Mathani Vs. C.D. Singh, Secretary to the Government of Mah ...

Court : Mumbai

Subject : Criminal

Acts : Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - Sections 3(1) and 8; Constitution of India - Article 22(5)

Reported in : 1996(4)BomCR385

heard the three learned Counsel at length; Shri S.M. Gupte for the petitioner, Shri R.M. Agrawal for respondent No. 2 - Secretary, Government of India, Ministry of Finance; and Shri R.L. Patil for respondents Nos. 1, 3 & … detained under the provisions of section 3(1) of the Conservation of Foreign Exchange & Prevention of Smuggling Activities Act, 1974 (for short, COFEPOSA Act,) by an order issued on the 29th November, 1994. Declaration under section 9(1) of