Court : Supreme Court of India
..... and marginal farmers have a significant capital deficit when compared to the rest of the farmers. a huge capital deficit, combined with a reduction in the agricultural income due to water scarcity and crop inundation due to floods has led to financial distress. small and marginal farmers are resource deficient; they do not have ..... and-marginal-farmers- protesting-against-the-farm-acts/ 13 https://www.mospi.gov.in/documents/213904/301563//report_587m1631267040957.pdf/3793650e-8cf1-7872- ae90-51470c8d211c 13 agricultural household that possesses 2-4 hectares of land (4.94- 9.88 acres), the income from crop production is rs. 7,945 and the income from wages is 3,548. a ..... expressed than in morey v. doud [351 us457:1. l ed 2d 1485 (1957)]. where frankfurter, j., said in his inimitable style: in the utilities, tax and economic regulation cases, there are good reasons for judicial self-restraint if not judicial deference to legislative judgment. the legislature after all 3 asif hammed v. state .....
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 .....
Tag this Judgment!Court : Supreme Court of India
..... the method of computing valuation of a perquisite (which includes rent free accommodation provided to an assessee by their employer) under section 17(2) of the income tax act 1961. the appellants argued that the amended rule did not provide the assessee with the right to claim before the assessing officer that there was no concession ..... fiction in section 10(2)(vii) second proviso read with section 2(6-c) of the indian income tax act, 1922 what is really not income is, for the purpose of computation of assessable income, made taxable income. besides the decision in cit v. bipinchandra maganlal37, the court in hiralal rattanlal (supra) adverted to the earlier decisions in state of ..... but on that account alone it cannot be struck down as invalid. the courts cannot, as pointed out by the united states supreme court in secretary of agriculture v. central roig refining company [94 l ed 381 :338. us604(1950)]. be converted into tribunals for relief from such crudities and inequities. there may .....
Tag this Judgment!Court : Supreme Court of India
..... judgment of punjab & haryana high court reported as hazara singh. the judgment reported in senairam doongarmall arises out of the income-tax act, 1922 to determine the business income. the judgment reported as narain swadeshi mills is to determine the existence of business under the excess profits tax act, 1940. the judgment reported as manipur administration pertains to a control order issued under the essential commodities ..... word business is mentioned to convey, in the narrower sense, mercantile pursuits; that which one does for a livelihood; occupation; employment; as, the business of a merchant; the business of agriculture. it has finally been stated that the word business is of large signification, and in its broadest sense includes nearly all the affairs in which either an individual or a .....
Tag this Judgment!Court : Supreme Court of India
..... following expressions have the meanings hereby respectively assigned to them, that is to say (1) agricultural income means agricultural income as defined for the purposes of the enactments relating to indian income tax;124. noticing that the definition (article 366 (1) (1)) itself referred to the term as defined by the income tax act, and after considering the definition in the existing enactment, this court held that: 30. the ..... expression agricultural income , for the purpose of abovementioned entries, means agricultural income as defined for the purpose of the enactments relating to indian income tax vide article 366(1) of the constitution. therefore, the definition of agricultural income in article 366(1) indicates that it .....
Tag this Judgment!Court : Supreme Court of India
..... amongst the high courts, was clarificatory and declaratory in nature and consequently retrospective. similarly, in brij mohan das laxman das v. commissioner of income tax29. explanation 2 added to section 40 of the income-tax act, 1961 from 1.4.1985 on a question on which there was a divergence of opinion was held to be declaratory in nature and, ..... in drafting, a court will be prepared to substitute another word or phrase for that which actually appears in the text of the act (p. 231).18. in a recent decision of this court in national agricultural coop. marketing federation of india ltd. v. union of in dia [(2003) 5 scc23 it has been held that there is ..... given section 238 of the insolvency and bankruptcy code, 2016, it is obvious that the code will override anything inconsistent contained in any other enactment, including the income tax act. we may also refer in this connection to dena bank vs. bhikhabhai prabhudas parekh and co. & ors. (2000) 5 scc694and its progeny, making it clear that .....
Tag this Judgment!Court : Supreme Court of India
..... police inspector, anti-corruption bureau, nagpur had issued a notice to the appellant asking him to provide documents relating to his property, assets, bank statements, income tax returns and asking the appellant to give statement to the police.3. feeling aggrieved and dissatisfied with the said notice dated 04.03.2020 issued by the ..... statement:1. record in respect of ancestral and self-acquired property in your name, for example, registered deed, construction licence, 11 receipts relating to tax, sale deed of agricultural land, 7/12 extract and mutation entries, etc.2) details of ancestral and self-acquired gold coins and jewellery, likewise sale and purchase of vehicle ..... corruption, it is observed in the case of p. sirajuddin (supra) that before a public servant, whatever be his status, is publicly charged with acts of dishonesty which amount to serious misdemeanour or misconduct of indulging into corrupt practice and a first information is lodged against him, there must be some suitable .....
Tag this Judgment!Court : Supreme Court of India
..... stated: 166. cooperative banks, like any other bank, are lending institutions and should pay tax on their profits. primary agricultural credit societies (pacs) and primary cooperative agricultural and rural development banks (pcardb) stand on a special footing and will continue to be exempt from tax under section 80p of the income tax act. however, i propose to exclude all other cooperative banks from the scope of that ..... . these appeals have been filed by co-operative societies who have been registered as primary agricultural credit societies , together with one multi-state co-operative society , and raise important questions as to deductions that can be claimed under section 80p(2)(a) (i) of the income-tax act, 1961 ( it act ); and in particular, whether these assessees are entitled to such deductions after the introduction of .....
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