Court : Chennai
Reported in : [1969]39CompCas946(Mad); [1969]74ITR623(Mad)
..... of section 12b. the charging section with regard to capital gains is section 12b(1). in fact, for the first time by the income-tax and excess profits tax amendment act of 1947, capital gains were charged to tax and so made liable under section 12b, introduced therein for the first time. the tax under the head of ' capital ..... the liquidators in the members' voluntary winding up to the assessee, there has resulted capital gains within the meaning of section 12b of the indian income-tax act, 1922, as subsequently amended, and brought to tax a sum of rs. 95,944 under the caption of 'capital gains'. it transpires that the assessee, for the previous year ending ..... any unearned income under the head of 'capital gains' under section 12b of the indian income-tax act, 1922, even as amended, would arise.24. mr. balasubrahmanyan, however relied upon the first proviso to section 12b as it stands after the finance act, 1956, and would urge that by reason of the omission of the expression 'any transfer of .....
Tag this Judgment!Court : Chennai
Reported in : [1969]72ITR107(Mad)
..... the shareholder, either directly in his assessment or by reopening the same. this process evidently suffered from administrative and other inconvenience. the section, therefore, has been amended twice since 1955, and, as it stands now, the deemed distribution of excessive accumulation over the prescribed limit to the shareholders is substituted by another deeming provision, ..... income-tax officer made under that provision, such an order could not be regarded as an order of assessment made under sections 3 and 4 of the income-tax act. we are of opinion that, on principle, m. m. parikh, income-tax officer v. navanagar transport and industries limited, without doubt, covers the second ..... has conceded so much, and, quite rightly too. 10. the second question is related to provision for corporate additionalsuper-tax under section 23a of the income-tax act, 1922, and it is asfollows : ' whether the provision made for tax payable under section 23a where no order under section 23 a had been passed .....
Tag this Judgment!Court : Chennai
Reported in : (1971)2MLJ273
..... language used in the statute. in r.m.d.c. (mysore) private ltd. v. state of mysore : [1962]3scr230 , the mysore lotteries and prize competitions control and tax act, 1951, was attacked on the ground that a tax must be levied for the purpose of revenue and could not be for the purpose of control and that the ..... 1970. they were issued in exercise of the powers conferred by subsection (1) of section 17 of the tamil nadu motor vehicles taxation act, 1931, as amended. by these notifications, rules were made amending schedules ii and iii to the act and the amendments have been approved by the legislative assembly as required by sub-section (3) of section 17 of the ..... act for the purposes of levying such tax.7. but what is contended is that the power of the state government under section 17(1) is confined only to the raising of revenue, but the impugned notifications themselves make it clear that the schedule has been amended and the rates have been raised 'with a view to avoid unhealthy competition .....
Tag this Judgment!Court : Chennai
Reported in : AIR1951Mad147; (1951)IMLJ628
..... it to be implied so as to avoid any room for controversy.12. i shall now examine, how & to what extent the provisions of the criminal law amendment act, unamended & amended, are inconsistent with the fundamental rights in part iii of the constitution. it is not seriously disputed by the learned advocate general though he did not concede, that ..... good desired is better reached by free trade in ideas--that the best teat of truth is the power of the thought to get itself accepted in the competition of the market and that truth is the only ground upon which their wishes safely can be carried out.'when civil liberties came up for consideration, the majority ..... decision of the bombay h. c. which had to construe section 4, bombay prize competition tax act (xi [11] of 1939) it was held that when the section required that prize competition shall not be conducted unless a licence in respect of such a competition has been obtained by the promoter thereof from the collector carried with it also the .....
Tag this Judgment!Court : Chennai
Reported in : AIR1965Mad14
..... course replaced by the coffee market expansion act (vii of 1942), which we shall refer to hereafter as the act. that was intended originally as a temporary measure, but by act iv of 1947, it secured a permanent place on the statute book. since its enactment there have been a number of amendments, but neither their history nor the provisions ..... on which the claim of the coffee board is resisted, the first relates to the power of the chief coffee marketing officer, to accept any but the highest competitive bid at an auction. this contention, if accepted will primarily benefit only those among the purchasers who offered less though the argument of mr. nambiar appearing for the ..... and co; air 1939 pc 12 public auction implies that it is being held in public, all the members thereof having the right to attend and there being competitive bids amongst those openly bidding for the subject-matter of the sale.(37) coffee sales are regulated by a system under which registered dealers alone are allowed to .....
Tag this Judgment!Court : Chennai
Reported in : AIR1954Mad621; (1954)IMLJ117
..... should be done only at a market, if there is one, is unreasonable. it is obviously in the interests of the growers; they could get the best competitive prices in an open market and they would not have to pay the middleman. sales in markets are likely to be ready cash transactions, and therefore advantageous to ..... enacted did not authorise the further restriction that only persons whose names had been registered by the market committee could carry on business. in 1945, madras act 21 of 1945 introduced certain amendments; and one of them related to section 18 which confers on the government power to make rules in respect of various matters. therein a new ..... an international market were cotton, groundnuts and tobacco; and the definition of commercial crops as enacted originally comprised only these three crops. by an amendment of the section made by the madras act 7 of 1948, it was enlarged so as to include any other crops or product which might be notified as commercial crop by the state .....
Tag this Judgment!Court : Chennai
Reported in : (1982)30CTR(Mad)179
..... degree of resemblance in the provisions, especially, in the stricter of the machinery provisions, may be discerned in all the direct taxes acts, hence we find parliament undertaking common featured amendments in the different tax laws by passing omnibus amending legislations called direct taxes (amendment) act. it is no wonder that courts too, while construing any given set of provisions in any given direct tax ..... before this court in reference. the court decided that the aac ought properly to have proceeded to rectify his earlier assessment having regard to the retrospective amendment carried out to s. 5(1)(viii) of the act. it may be observed that in that case no question whatever was raised before the tribunal as to the maintainability of the departmental appeal against .....
Tag this Judgment!Court : Chennai
Reported in : [1995]215ITR638(Mad)
..... . no. 304(e) (see [1983] 142 itr 11), with effect from october 5, 1963, when article 297 of the constitution of india was amended by the constitution (fifteenth amendment) act, 1963, and that, therefore, the income earned by the assessees during the accounting year 1982-83 is subject to income-tax in the assessment year 1983 ..... the provisions contained in article 1(3) of the constitution. it is also clear from the statement of objects and reasons for the act, that article 297 has been amended by the constitution (fortieth amendment) act, 1976, which came into force from may 27, 1976, and that the territorial waters, continental shelf, exclusive economic zone and other ..... maritime zones, act, 1976, was enacted as a sequel to the constitution (fortieth amendment) act, 1976. therefore, we are of the view, that the said act and notification g.s.r. no. 304(e) (see [1983] 142 itr 11) have been enacted .....
Tag this Judgment!Court : Chennai
Reported in : (1998)145CTR(Mad)294
..... learned counsel, undertakes to file vakalat for the respondent. he submitted that the explanation was introduced by the finance act, 1983, with retrospective effect from 1st april, 1979, and since a limited retrospective effect is made by the above amendment, sub-s. (5) of s. 37 would not apply to the assessment year in question.5. we have ..... compliance with the directions of this court dt. 14th march, 1989, the tribunal referred the following question of law for our consideration under s. 256(2) of the it act, 1961 :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the expenditure incurred on the maintenance of the guest ..... carefully considered the submissions made by learned counsel for the parties. sub-s. (5) of s. 37 of the act was introduced by the finance act, 1983, with retrospective effect only from .....
Tag this Judgment!Court : Chennai
Reported in : AIR1970Mad474; [1971(21)FLR296]; (1970)IILLJ559Mad
..... writ petition under article 226 of the constitution of india for the issue of a writ of certiorari to quash the order.2. section 33-c(2) of the act has been amended on 19-12-1964 by the addition of the words 'any money or' before the clause 'any benefit which is capable of being computed in terms of money'. ..... under the section as amended, the claim for back wages would clearly fall under section 33-c(2) of the act. but the amendment cannot have any retrospective effect. the learned advocate for the petitioner, however, urged that even section 33-c(2) of the ..... act, as it originally stood, has been held to be comprehensive enough to include a claim for back wages, though a narrow .....
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