Court : Supreme Court of India
..... ltd. v. union of india,9 wherein this court was concerned with whether a collaboration agreement constituted transfer of property under chapter xx-c of the income tax act, 1961. vidarbha engineering industries entered into a collaboration agreement with unitech on 17.03.1994 for development and construction of a commercial project at dahipura and ..... deed executed on 23.08.2007. the main judgment was based on the premise that the land sellers were the farmers whose only source of income was agriculture. the entire tenor of the main judgement was therefore farmer-centric. in the case of girnar, the position is entirely different since the land was ..... the agreement is not capable of being specifically performed. for example, the developer may have evicted or settled with occupants, got land which was agricultural converted into non- agricultural use, carried out a partial development of the property and pursuant to the rights conferred under the agreement, created third- party rights in favour .....
Tag this Judgment!Court : Karnataka Dharwad
..... and in the circumstances of the case, the tribunal is justified in law in setting aside the disallowance of rs.5,89,49,503/- claimed as transport creditors by following decisions in cases of cit v/s usha stud agricultural ..... 6/4, ennoble house, raghavachari road, belary-583101 pan: afjpa5974p respondent (by sri. mayank jain, advocate) this ita is filed under section260a of the income tax act, 1961 arising out of order dated2711.2015 passed in ita no.449/bang/2014, for the assessment year20092010 praying to decide the foregoing question of law ..... transport creditors, is set at naught, and to that extent the assessee has been relieved of tax liability.2. the revenue in its memorandum of appeal filed under section 260a of the income tax act, 1961 (hereinafter 1961 act ) had framed the following question, as the substantial question of law: whether on the facts .....
Tag this Judgment!Court : Karnataka
..... from the offence under section 13(1)(e) r/w 13(2) of the p.c.act.33. insofar as the wife of accused, she has declared income of rs.7,65,000/- for the period from 2003 to 2006 in the income tax returns and paid income tax of rs.1,59,284/-. even the unnumbered sheet no.25 of volume i furnished by ..... discharging the accused is not at all sustainable under law.9. further, learned spl.pp has addressed his arguments relating to income tax and whereby the self- declaration of income tax is not proper and whatever the contention regarding the income tax it ought to have been tested by the trial court only after the accused entering into the trial. but the trial court ..... has also failed to consider the fact that the father of the accused is an agriculturist and he has 8 children and they are depending on agriculture and they have no other source of income but the father of accused purchased the immovable properties to show the same there is a material evidence placed before the court, but the trial .....
Tag this Judgment!Court : Karnataka
..... income tax officer could reopen the assessment under sections 297(2)(d)(ii) and 148 of the income tax act, 1961, although the right to reopen was barred by that time under the earlier income tax act, 1922. this court held that the same was impermissible and observed in para 5 as ..... has been the view taken by a bench of three judges of this court in /to v. lnduprasad devshanker bhatt [air1969sc778 in the context of a provision of the income tax act, 1961, in the matter of reopening of assessment orders. in that matter the court was concerned with the issue as to whether the ..... in arjan singh v. state of punjab [ai r1970sc703 this court was concerned with the issue of date of application of section 32-kk added into the pepsu tenancy and agricultural lands act, 1955. this court held in para 4 thereof as follows: (air p. 705)"4. it is a well-settled rule of construction that no provision in a statute .....
Tag this Judgment!Court : Karnataka
..... income tax officer could reopen the assessment under sections 297(2)(d)(ii) and 148 of the income tax act, 1961, although the right to reopen was barred by that time under the earlier income tax act, 1922. this court held that the same was impermissible and observed in para 5 as ..... has been the view taken by a bench of three judges of this court in /to v. lnduprasad devshanker bhatt [air1969sc778 in the context of a provision of the income tax act, 1961, in the matter of reopening of assessment orders. in that matter the court was concerned with the issue as to whether the ..... in arjan singh v. state of punjab [ai r1970sc703 this court was concerned with the issue of date of application of section 32-kk added into the pepsu tenancy and agricultural lands act, 1955. this court held in para 4 thereof as follows: (air p. 705)"4. it is a well-settled rule of construction that no provision in a statute .....
Tag this Judgment!Court : Karnataka
..... income tax officer could reopen the assessment under sections 297(2)(d)(ii) and 148 of the income tax act, 1961, although the right to reopen was barred by that time under the earlier income tax act, 1922. this court held that the same was impermissible and observed in para 5 as ..... has been the view taken by a bench of three judges of this court in /to v. lnduprasad devshanker bhatt [air1969sc778 in the context of a provision of the income tax act, 1961, in the matter of reopening of assessment orders. in that matter the court was concerned with the issue as to whether the ..... in arjan singh v. state of punjab [ai r1970sc703 this court was concerned with the issue of date of application of section 32-kk added into the pepsu tenancy and agricultural lands act, 1955. this court held in para 4 thereof as follows: (air p. 705)"4. it is a well-settled rule of construction that no provision in a statute .....
Tag this Judgment!Court : Karnataka
..... income tax officer could reopen the assessment under sections 297(2)(d)(ii) and 148 of the income tax act, 1961, although the right to reopen was barred by that time under the earlier income tax act, 1922. this court held that the same was impermissible and observed in para 5 as ..... has been the view taken by a bench of three judges of this court in /to v. lnduprasad devshanker bhatt [air1969sc778 in the context of a provision of the income tax act, 1961, in the matter of reopening of assessment orders. in that matter the court was concerned with the issue as to whether the ..... in arjan singh v. state of punjab [ai r1970sc703 this court was concerned with the issue of date of application of section 32-kk added into the pepsu tenancy and agricultural lands act, 1955. this court held in para 4 thereof as follows: (air p. 705)"4. it is a well-settled rule of construction that no provision in a statute .....
Tag this Judgment!Court : Supreme Court of India
..... concurrent list does not include any entry related to taxation. for example, while the union primarily has the power to impose income taxes, except from 47 48 agriculture , the state has the power to impose tax on agricultural income . therefore, both the union and the states had a separate and an exclusive domain over specific heads of taxation. the ..... the subject of the charge. this inference flows from the general arrangement of the provisions of the income tax act, where under each head of income the charging provision is accompanied by a set of provisions for computing the income subject to that charge. the character of the computation provisions in each case bears a relationship to ..... , there is a nexus with india since the importer would be indian. forward charge taxation is envisaged in direct tax. section 9(1)(6) of the income tax act 1961 taxes a non-resident outside india since the income is generated in india; (x) the decision of this court in bsnl v. union of india27 on double .....
Tag this Judgment!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 : Karnataka
..... of the compensation received bythe land owners for the land acquired under the right of fair compensation & transparency in land acquisition, rehabilitation and resettlement act, 2013 (rfctlaar act) reg. under the existing provisions of the income-tax act, 1961 ('the act') an agricultural land which is not situated in specified urban area, is not regarded as a capital asset. hence, capital gains arising from the transfer. (including ..... no distinction has been made between compensation received for compulsory acquisition of agricultural land and non-agricultural land in the matter of providing exemption from income-tax under the rfctlarr act the exemption provided under sec.96 of the rfctlarr act is wider in scope than the tax exemption provided under the existing provisions of income-tax act.1961. this has created uncertainty in the matter of taxability of compensation .....
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