Court : Supreme Court of India
..... not resist the temptation to take note of the said provision which is in the teeth of section 269 ss of the income tax act, 1961.6. role of rbi, the scheme of chapter iii b of the rbi act and the regulatory measures taken by rbi from time to time 6.1 as observed by this court in internet and ..... no.45: banking 4.2 list ii (state list) of the seventh schedule contains an entry in entry no.30, which reads: money lending and money lenders; relief of agricultural indebtedness . 74.3 therefore, any state enactment regulating the business of money lending and intended to afford protection to borrowers, may fall under entry no.30 of list ii. ..... , other than money lending, if such advance is made in the regular course of such business; (j) a loan advanced by the national bank for agriculture and rural development established under the national bank for agriculture and rural development act, 1981; (k) a loan advanced by the export import bank of india established under the export import bank of india .....
Tag this Judgment!Court : Supreme Court of India
..... amount due by way of refund: (a) in modi industries ltd. and another v. commissioner of income tax and another8 a bench of three judges of this court was called upon to consider the effect of section 214 of the income tax act, 1961, and the questions which arose were set out as under: we shall now indicate how the ..... controversy relating to the meaning of the expression "regular assessment" arises: an assessee pays advance tax according to his estimate of his income during the financial year relevant to the particular assessment ..... whether interest on the compensation amount at the rate of 9 per cent per annum could be awarded when the terms of section 6 of the maharashtra agriculture lands (ceiling of holdings) act, 1961 prescribed payment of interest only at the rate of 3 per cent per annum. the discussion on the point was: 9. there is .....
Tag this Judgment!Court : Supreme Court of India
..... air1955sc795(paras 3-5) 70 air1958sc232(para 13(iia), 14-16) 71 air1958sc538(paras 11-17) 72 air1958sc578(paras 210-218) 31 khandige sham bhat vs. agricultural income-tax officer, kasaragod & anr.73; raja bira kishore deb, hereditary superintendent, jagannath temple vs. the state of orissa74; ganga ram & ors. vs. union of india ..... 1997. it is the case of the petitioners that the trust is also registered with the income tax authorities and ministry of home affairs, government of india including under the foreign contribution (regulation) act, 19763 for receipt of foreign funds (fcra no.010260151 dated 8.12.1998 and renewed on ..... destabilising the country through foreign funding. the members shared their experience and finally accepted the bill which became the 2010 act. this act repealed the 1976 act. the introduction for the 2010 act recognised that some of the foreign countries were funding individuals, associations, political parties, candidates for elections, correspondents, columnists, .....
Tag this Judgment!Court : Supreme Court of India
..... the writ court ought not to have entertain the writ petition filed by the assessee wherein the legality of the notice issued under section 148 of the income tax act alone was subject matter of challenge.119. we find that the high court has examined the merits of the contention raised including the documents filed so as ..... is inam mashtrul qidmat attached to dargah hussain shah vali . the words at page 2 inam lands situated at village guntupalli, qila mohd. nagar, golconda and agriculture lands at dargah hussain shah vali village are in different handwriting than the entries made against column numbers 1-10. the handwriting in response to col. no.11 ..... were accepted by the 14 source- air1956sc31915 (2018) 6 alt79(db) 14 government headed by mr. m.k. vellodi and an act known as hyderabad tenancy and agricultural lands act, 1950 was passed. this act was described by some economists and policymakers as having taken the lead in land reforms in independent india .15. the abolition regulation came .....
Tag this Judgment!Court : Supreme Court of India
..... limit of rs 5 lakh -is without any deduction s available various provisions of income tax such as 80c, standard deductions etc.-.includes agricultural income. the individual income tax exemption limit does not include agricultural income. 3.3.1.43 as per current income tax norms, the effective income tax on individuals is zero for those with incomes up to inr5lakhs. as discussed in the foregoing paras after taking advantage of the various ..... limit is rs 2,50,000. however, in february 2019 the government through finance act amended the income tax act to provide relief to the low-income individuals wherein anyone having taxable income up to five lakhs of rupees per annum was exempt from paying income tax. whatever tax that was calculated for the income exceeding rs.2,50,000 was given back to the taxpayer by way of rebate .....
Tag this Judgment!Court : Supreme Court of India
..... get rs.195-196/- per day by selling milk. father had not spent any money during marriage of elder brothers. neither father, second defendant nor his brother mukund were income-tax 59 assessees. he has no record to show that he had the money to the extent of rs.4,50,000/- with him. his brothers were staying in the rented ..... may be intention of the parties, a contract which is expressly or impliedly prohibited by a statute, may not be enforced by the court. the bombay act did not prohibit a contract of sale of agricultural land between two agriculturists. the invalidity of the acquisition 87 of land in excess, involved the consequence that the land would vest in the government. ..... dealing with a suit for specific performance. one of the questions, which arose was whether the enforcement of the contract, would defeat the provisions of the bombay tenancy and agricultural lands act, 1948. the appellant before this court had agreed to sell 41 acres and odd of jairayat land. under section 5 of the .....
Tag this Judgment!Court : Supreme Court of India
..... the respondent in the judgment in the case of income tax officer, a ward, sitapur v. murlidhar bhagwan das6. it is clear from the aforesaid judgment that finding is a decision on an issue . further, in the judgment in the case of j.ashoka v. university of agricultural sciences and ors.7, this court has held that ..... other than international commercial arbitrations, is vitiated by patent illegality, same is a ground for setting aside the award. sections 34(2a), (3) & (4) of the act, read as under: 34.(2a) an arbitral award arising out of arbitrations other than international commercial arbitrations, may also be set aside by the court, if the court ..... by ignoring important and relevant evidence on record, it suffers from perversity and patent illegality, which cannot be cured on remittal under section 34(4) of the act by the arbitrator. under guise of adding reasons, the arbitrator cannot take contrary view against the award itself. the arbitrator in resumption proceedings cannot change his award .....
Tag this Judgment!Court : Supreme Court of India
..... were involved with respect to labour unrest in the estate. exhibit a-67 and a-68 were addressed to the agricultural income tax officer and ex. a-71 and a-72 were letters addressed to the sales tax officer. these also showed that some labour disputes in the estate starting from 1983 existed and that production had slowed ..... land automatically vests with the state like in the private forests vesting under section 3 (1) of the vesting act. the purpose of or intent of both enactments is to distribute excess lands to landless agricultural labourers. the high court was of the view that the state never alleged that the board s order was obtained ..... that the respondents had alternate remedy available before the tribunal. in these circumstances, popular estates filed applications8 before the tribunal under section 8 of the vesting act challenging the notification dated 22.07.1987 and seeking a declaration that the property covered by the applications was not private forest and had not vested in .....
Tag this Judgment!Court : Supreme Court of India
..... . in our opinion, the crucial question to be answered is whether merely because the income-tax act has adopted the annual value as the standard for determining the income, it must necessarily follow that, if the same standard is employed as a measure for any other tax, that tax becomes a tax on income?. if the answer to this question is to be given in the 28 part ..... legislature has introduced 19 air1962all 83 20 air1965ap9134 part d certain restrictions in section 55 inter alia stipulating in clause (a) that for land which is exclusively used for agricultural purposes, the tax shall not be levied unless water is supplied by the jal sansthan for such purposes to the land and in clause (b) stipulating that (i) the premises should be .....
Tag this Judgment!Court : Supreme Court of India
..... the language is plain and hence allows only one meaning, the same has to be given effect to, even if it causes hardship or possible injustice. (vide: commissioner of agricultural income tax, west bengal v. keshab chandra mandal, air1950sc265 and d. d. joshi & ors. v. union of india & ors., (1983) 2 scc235.24. in bengal immunity ..... and subsequently the same came to be transferred to the economic offence wing, mumbai for further investigation; that the provisions of maharashtra protection of depositors act (mpid) act, 1999 were also invoked; that it is the case on behalf of the appellant that the investigation report submitted by the investigating agency revealed that ..... which commenced its operations after the ministry of consumer affairs, government of india granted it an exemption under section 27 of the forward contracts (regulation) act, 1952 to launch one-day forward contracts for buying and selling of commodities and therefore it is prayed to condone the delay in preferring the appeal .....
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