Court : Supreme Court of India
Reported in : AIR1954SC158; [1954]25ITR58(SC); [1954]1SCR541
..... 50, the respondent would be chargeable in respect of his income whether derived within or without rajasthan. it is, however, argued on his behalf by mr. chatterjee that section 3 of the finance act, 1950, having substituted the amended clause (14-a) 'with effect from the first day of april, 1950,' rajasthan was not a taxable territory during the accounting ..... . 10. as already observed, the learned judges below, in order to reinforce their construction of sub-clause (iii) of clause (b) of the provision, read section 13 of the finance act as keeping alive the law of income-tax in force in any part b state for purposes of levy, assessment, and collection of tax in respect of the income ..... for the purpose of making any assessment of the year 1950-51.' 11. it will be seen that the basis on which this reasoning proceeds is that section 13 of the finance act, 1950, saves the operation of the saturday laws relating to income-tax in part b states in the year 1949-50 for the purpose of levy, assessment .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC1719; (1990)1GLR407; [1989]178ITR345(SC); JT1989(2)SC399; 1989Supp(2)SCC210; [1989]3SCR1
..... to an assessee in part b state. in the present case also, the saurashtra income-tax ordinance having been repealed not by the indian income-tax act but by section 13 of the finance act, 1950, a similar difficulty had come into existence, and hence we fail to see how it can be said that the government had no good basis ..... the aforementioned case and that challenge was negatived. the main plank of learned counsel's argument is that in the case of straw products ltd. v. income-tax officer : [1968]68itr227(sc) , a view has been taken which is inconsistent with the view taken in commr. of income-tax, hyderabad v. dewan bahadur ramgopal mills ltd. now, in ..... ]41itr280(sc) had upheld the validity of the said explanation. the gujarat high court noted that the decision of this court in straw products ltd. v. income-tax officer : [1968]68itr227(sc) arose from the merged state of bhopal. some of the arguments which did not find favour with this court in the case of commr. of income-tax, hyderabad .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1965]3SCR1; 1965AIR1862
..... quantum of accumulated profits. but we have rejected that contention. in this view, the claim of reduction of rebate on super-tax provided by the first schedule to the finance act, 1956, can be worked out without any confusion or complication. we, therefore, hold that the dividends must be deemed to have been paid or distributed in the year ..... for the year ending november 30, 1955. the point in issue is when does the distribution contemplated by s. 2(6a)(d) of the income-tax act. 1922 take place? section 2(6a)(d) speaks of dividend in the shape of any distribution by a company amongst its shareholders on reduction on its capital to the extent of ..... case where a private limited company distributed less than sixty per cent. of the total income of the company as dividends on the ground that the object of the section was to prevent avoidance of super-tax by shareholders of a company in which the public were not substantially interested. in balaji v. income-tax officer, special investigation .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1966]59ITR794(SC); [1966]2SCR732
..... . the argument raised by counsel importing a limitation contrary to the plain words of the statute must therefore be rejected. 6. sub-section (10) of s. 35 was inserted in the income-tax act by s. 19 of the finance act, 1956, with effect from april 1, 1956. it provides : 'where, in any of the assessments for the years beginning on ..... shareholders. but the rule in burrell's case [1925] 2 k.b. 52. since the amendment of the definition of 'dividend' in s. 2(6a) by the finance act, 1956, no longer applies, when the liability to assessment of income-tax in respect of amounts distributed out of accumulated profits by a liquidator in a winding up falls to ..... 1948-49 to 1953-54 in respect of the profits earned in its business, and was allowed rebate under the appropriate provisions contained in the schedules to the relevant finance acts on the undistributed profits of the previous years. on december 31, 1956 at an annual general meeting of the shareholders the company declared an aggregate sum of rs. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1966SC279
..... tax the learned counsel for the commissioner of income-tax raised two additional arguments. first, he urged that the word 'rebate' in section 16(2) only related to rebate granted under the indian finance act and not any rebate granted under the concession order. he further referred us to rule 14 of the indian income-tax rules, which ..... order, 1950, hereinafter called the concession order. according to the assessee, on a true construction of section 16(2) of the act, the rate applicable to the total income of the said companies was the rate prescribed by the relevant indian finance act. the income-tax officer disallowed the grossing up at the indian rate but allowed at the state ..... what would otherwise be the proper tax leviable under the finance act, read with indian income tax act. the word 'rebate' is an apt word to use in respect of a remission. 12. that a rebate as such can be directed to be allowed under section 60a of the act seems clear to us. the word 'exemption or other .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1985SC867; 1985(5)ECC252; 1985(20)ELT239(SC); [1985]153ITR322(SC); 1985(1)SCALE672; (1985)2SCC719; [1985]3SCR575
..... special excise duty in respect whereof additional tax credit is sought by the appellant company is not chargeable under the excise act but chargeable under the finance act. sub-clauses (3) & (4) of section 80 of the finance act on which reliance has been placed by counsel for the appellant company in terms refer to the procedural aspect such as ..... after hearing counsel for the appellant company at some length and after going through the relevant provision of the said scheme, relevant section of the income tax act, 1961 and section 80 of the finance act 1965 we are satisfied that the high court was right in the view which it took on both the contentions and the ..... that the appellant was not entitled to have any tax. credit in respect of any other excise duty levied under a different enactment, namely, section 80 of the finance act. the appellant challenged before the high court the aforesaid view of the authorities but the high court negatived the challenge principally on the ground that .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2007(3)JCR215(SC)]; JT2007(6)SC574; 2007(7)SCALE32; (2007)9SCC266; 2007[7]STR106; (2007)7VST317(SC); 2007AIRSCW3549
..... , 2004 and the consequential demand of notice raised in pursuance of such order of re- assessment, all dated 29th november, 2004 are time-barred under section 24 of the bihar finance act.15. however, the contention of the respondent herein is that the assessment should be directed to be completed on the basis that the rate of tax ..... dated 5th november, 1998 to the assessing authority and other officers. the assessing authority was directed to make a re-assessment. as per the proviso to section 24 of the bihar finance act, the assessing authority was supposed to complete and pass the re-assessment order pursuant to the remand by 5th november, 2000, two years from the date ..... but unfortunately nothing is provided in relation to the other charges either in section 21 itself or in the rules framed in exercise of the powers conferred by section 58 of the bihar finance act..in our considered opinion sub-clause (i) of clause (a) of section 21(1) read with rule 13a of the rules did not make sub .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2007(213)ELT323(SC); JT2007(8)SC467; 2007(8)SCALE488; (2007)6SCC769; [2007]9STT1; (2009)20VST1(SC)
..... orders passed after the said date by reason of section 144 of the finance act, 2003 were made appealable to the high court under an entirely substituted section 35g, whereas section 145 of the finance act, 2003, amended section 35h of the act to restrict its applicability to final orders passed after 1.7.2003. section 35h as amended reads as under:35h. application ..... would not be.22. we may, keeping in view the aforementioned backdrop, notice a few decisions. in commissioner of income tax, madras v. s. sivaramakrishna iyer : [1968]70itr860(mad) , it was held:on that view, we think that where a tribunal has jurisdiction over more states than one, and it has got to make a choice ..... the view was again reiterated in suresh desai and associates v. commissioner of income tax 71 (1968) dlt 772. that was also a case under section 256 (2) of the i.t. act. in a petition for reference arising under the act in central excise case no. 5 of 1997 (commissioner of central excise v. technological institute of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2003(3)BLJR2228
..... of the said provision the tax cannot be levied, the appellants before them were entitled to succeed. the supreme court quashed the assessment orders.18. section 21 of the bihar finance act reads as under:'21. taxable turnover.--(1) for the purpose of this part the taxable turnover of a dealer shall be that part of his ..... mean that price, upon calculation of the entire payment payable to the contractor on satisfactory completion of the contract. the 'works contract' is defined under section 2 (ww) of the binary finance act, 1981. it reads as under:'2(ww) 'works contract' means any agreement for carrying out for cash or deferred payment or other valuable consideration the ..... and penalty is not only confiscatory in its nature but is also had because no follow up legislation to section 21 (1) of the bihar finance act has been enacted nor the rules to make section 21 (1) of the bihar finance act workable have been made. according to the petitioners, the amount already paid by them towards the tax .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1997)139CTR(SC)364
..... assessees income. to obviate this kind of unexpected outcome of s. 43b, the first proviso was added in s. 43b by the finance act of 1987. the proviso makes it clear that the section will not apply in relation to any sum which is actually paid by the assessee in the next accounting year if it is ..... under the relevant law.explanation 3 - ...................explanation 4 - ...................'sec. 43b was inserted in the it act, 1961 w.e.f. 1st april, 1984. the section, as it originally stood, did not contain the two provisos. the first proviso has been set out above. this proviso was inserted by the finance act of 1987 which came into effect from 1st april, 1988. ..... expln. 2 has been added subsequently by the finance act of 1989 but with retrospective effect from .....
Tag this Judgment!