Court : Supreme Court of India
Reported in : AIR1967SC997; 1967CriLJ950; [1967]2SCR170
..... the receiver of the fine. presumably, the union is not bound by the central income-tax act because if it paid income-tax, it will be both the payer and the receiver. likewise, a state is prima facie not bound by a state agricultural income-tax act where the tax is receivable by it. moreover cases may conceivably arise where "press provisions in a ..... statute binding the state in respect of certain specific matters may give rise to the necessary implication that the state is not bound in respect of other matters. the calcutta municipal act, 1951 contains special ..... the secretary of state for india and to direct the secretary of state for india to pay to the municipal corporation in lieu of such tax some definite amounts. this act was a pointer against the contention that there was a presumption in favour of the crown that a statute was not binding on it. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996IIIAD(SC)421; AIR1996SC1522; (1996)132CTR(SC)256; [1996]220ITR43(SC); JT1996(3)SC665; 1996(3)SCALE197; (1996)4SCC216; [1996]3SCR1008
..... contented that the land sold under the aforesaid three sale-deeds, being an agricultural land, does not constitute 'capital asset' and, therefore, the profit arising from its sale is not exigible to tax under section 45 of the income-tax act, 1961. the income tax officer rejected the contention holding that having regard to the location and the ..... physical characteristics of the land, the development and use of the adjoining lands and the price at which and the purpose for which it was sold, go to show that it was not an agricultural ..... land. on appeal, the appellate assistant commissioner affirmed the view taken by the income tax officer. on further appeal to the tribunal, there was a difference of opinion between the accountant member and the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC1493; (1989)2CompLJ164(SC); (1989)77CTR(SC)70; (1989)2GLR1336; [1989]177ITR418(SC); JT1989(2)SC267; 1989(1)SCALE1138; (1989)2SCC679; [1989]2SCR720; 1989(2)LC150(SC
..... those clauses, the proviso, in our opinion, will not apply. we may refer in this connection to the observations of the karnataka high court in addl. commr. of income-tax, karnataka v. ryels agricultural produce co-operative marketing society ltd. : [1978]115itr709(kar) , where reference has been made to the broad meaning of the expression 'marketing' appearing in clause (c) ..... the activity of the entire business of ginning and pressing of cotton and marketing it by virtue of clause (c)of section 81(i) of the income-tax act, and that the high court erred in holding to the contrary.8. in the result the appeals are allowed and the question referred by the ..... 1961-62 to 1963-64, the assessee claimed that the receipts from the ginning and pressing activities were exempt under section 81(i)(c) of the income-tax act (as it stood then). the income-tax officer, however, declined to accept the claim on the ground that the assessee had been carrying out the process of ginning and pressing with the aid .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2003SC1329; (2003)181CTR(SC)1; 104(2003)DLT876(SC); JT2003(3)SC217; 2003(2)KLT890(SC); (2003)3MLJ107(SC); 2003(3)SCALE414; (2003)5SCC23; [2003]3SCR1
..... by the appellant relates to the construction and constitutional validity of section 80p(2)(a)(iii) of income tax act, 1961 and grant of deduction of the profits made by societies by the marketing of agricultural produce.3. under the income tax act, 1922 (hereinafter referred to as the 1922 act) exemption was granted in respect of profits and gains of business of co-operative societies including societies ..... engaged in the marketing of the agricultural produce of its members. the income tax act, 1961 continued this exemption under section 81(1)(c) which read:81. income of co-operative societies.income-tax shall not be payable by a cooperative society-(i) in respect of the profits and gains of business carried .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1976SC1790; [1976]103ITR785(SC); (1976)4SCC446; [1976]SuppSCR145
..... and partly from agriculture. this income has to be computed as if it were income from business under the central income-tax act and the rules made thereunder. forty per cent of the income or computed is deemed to be income derived from business and assessable to non-agricultural income-tax. the balance of 60 per cent of the income so computed is agricultural income within the meaning of the central income-tax act.19. so far ..... from tax as agricultural income under section 4(3) (viii) of the indian income-tax act. the assessee claimed that 60 per cent of the dividend income received by her on her shares in those companies was also exempt from tax as agricultural income. this claim was rejected and it was held that the dividend income received by the assessee was not agricultural income but was income assessable under section 12 of the act. agricultural income as .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1974SC849; [1974]94ITR479(SC); (1974)4SCC415; [1974]3SCR820; 1974(6)LC476(SC)
..... question in this case if the taxing provisions are noticed at this stage.3. the agricultural income-tax act was passed in 1950. in the beginning, the act was known as the travancore-cochin agricultural income-tax act. later as a result of the states reorganisation, the act was renamed simply as agricultural income-tax act, 1950. according to the preamble, the act was made to provide for levy of tax on agricultural income in the state of kerala ..... . till the amending act of 1970, all companies were .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2004SC2341; 2004(3)ALD102(SC); 2004(5)ALLMR(SC)604; 2004(3)CTC553; [2004(3)JCR158(SC)]; JT2004(Suppl1)SC394; 2004(4)SCALE664; (2004)4SCC705
..... ' as meaning, amongst other things, 'any income derived from land by agriculture' came up for the ..... agriculture. we have a direct decision of this court available on the point and being a three-judge bench decision binds us. it is commissioner of income-tax west bengal, calcutta v. benoy kumar sahas roy - : [1957]32itr466(sc) wherein the term 'agriculture' as occurring in sub-section (1) of section 2 of the income-tax act, 1961 which defines 'agricultural income ..... of power shall be given free of charge to the small farmers whose family is solely dependent on the income derived from his agricultural land holdings.explanation (iii). -- agricultural consumers shall be permitted lighting up to 50 watts per 1,000 watts of motive power connected, subject to .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1966SC1053; [1966]60ITR52(SC); [1966]2SCR944
..... dealt with similar problems. we will first consider state of madras v. g. j. coelho. this was not a case arising under the indian income-tax act but under the madras plantations agricultural income-tax act, 1955, in which a section exactly similar to section 10(2)(xv) existed. in brief, the facts in that case were that the ..... assessee had borrowed money for the purpose of purchasing the plantations and he claimed that in computing his agricultural income from these plantations the entire interest ..... debenture stock. the company claimed to deduct these expenses but the high court held that the expenses could not be deducted under schedule d of the english income tax act as trading expenses. mathew j. gave the following reasons for disallowing the claim : 'the amount paid in order to raise the money on debentures, comes .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2003]260ITR548(SC)
..... engaged in the marketing of the agricultural produce of its members. the income tax act, 1961, continued this exemption under section 81(1)(c) which read :'81. income of co-operative societies.income tax shall not be payable by a co-operative society(i) in respect of the profits and gains of business ..... appellants relates to the construction and constitutional validity of section 80p(2)(a)(iii) of the income tax act, 1961, and grant of deduction of the profits made by the societies by the marketing of agricultural produce.3. under the indian income tax act, 1922 (hereinafter referred to as 'the 1922 act') exemption was granted in respect of profits and gains of business of cooperative societies including societies .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1956SC522; [1956]59ITR529(SC)
..... high court will be set aside. the correct answer to the question referred will be that the income mentioned therein is not agricultural income within the meaning of the income-tax act. the order for costs, however, as agreed by the commissioner of income-tax as a condition the requisite certificate from the high court will be that the appellant will pay ..... no doubt they differ in obvious respects' : on the observations of viswanatha sastri, j., in commissioner of income-tax act, madras v. k. e. sundara mudaliar : 'in my opinion the word 'agriculture' is used in section 2 of the income-tax act in a wide sense so as to denote the raising of useful or valuable products which derive nutriment from the ..... . kokine dairy, rangoon, and the passage in the judgment of robert, c.j., at page 509 therein : 'what is exempted from tax by the income-tax act is agricultural income and for the purpose of considering the position of a dairy farm and the milk which is derived from it, it is necessary to enquire .....
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