Judgment Search Results Home > Cases Phrase: finance act 1968 section 2 income tax Court: supreme court of india Page 14 of about 29,501 results (0.230 seconds)

Union of India (Uoi) Vs. Shri Harbhajan Singh Dhillon

Court : Supreme Court of India

Reported in : AIR1972SC1061a

..... means property of every description, moveable or immoveable, but does not include agricultural land, growing crops, grass or standing trees on such land.90. by section 24 of the finance act, 1969, section 2(e) was amended omitting the non-inclusion of agricultural land for the assessment year commencing from april 1, 1970 and for all subsequent assessment years, ..... , the union could not resort to article 248 and or entry 97 in list i to justify the deletion of the non-inclusion of agricultural land by section 24 of the finance act, 1969.95. mr. setalvad challenged the correctness of the high court's majority judgment. relying on article 248 and entry 97 in list i, he ..... harakchand ratanchand banthia v. union of india : [1970]1scr479 ramaswami, j., speaking on behalf of the court, while dealing with the gold (control) act (45 of 1968) observed :before construing these entries it is useful to notice some of the well-settled rules of interpretation laid down by the federal court and by this .....

Malayala Manorama Co. Ltd. Vs. Commissioner of Income Tax, Trivandrum

Court : Supreme Court of India

Reported in : (2008)216CTR(SC)102; [2008]300ITR251(SC); JT2008(5)SC529; 2008(6)SCALE659; 2008AIRSCW3407

..... subsequent year or years under the provisions of sub-section (2) of section 32 or sub-section (3) of section 32a or clause (ii) of sub-section (1) of section 72 or section 73 or section 74 or sub-section (3) of section 74a or sub-section (3) of section 80j. 4. a new chapter xii-b containing section 115j was inserted by the finance act, 1987 with effect from ist april, 1988. this new ..... submitted that chapter xii-b containing 'special provisions relating to certain companies' was introduced in the income tax act by the finance act 1987 with effect from 01.4.1988. from the assessment year 1988-89, section 115j was introduced into the 1961 act, which replaced section 80vv of the act. section 115j provided that where the total income of a company as computed under the income tax .....

Salem Co-operative Central Bank Limited Vs. Commissioner of Income-tax

Court : Supreme Court of India

Reported in : AIR1993SC1517; (1993)111CTR(SC)394; [1993]201ITR697(SC); JT1993(3)SC181; 1993(2)SCALE460; 1993Supp(4)SCC200; [1993]2SCR997

..... was that it has no income which was liable to be assessed to income-tax inasmuch as its entire income was exempt under section 81(1)(a). in tune with this submission, the assessee submitted that the said sum ..... a new contention for the first time that the fourth proviso to section 10(2)(vii) did not apply to the assessment as it was not in force on april 1, 1946 and the liability of the company had to be determined as on april 1, 1946, when the finance act, 1946 came into force. a preliminary objection was raised by ..... for the purpose of section 66(1) of the act.7. this decision of the constitution bench, in our opinion justifies and warrants the approach adopted by the high court in the judgment under appeal. the question in the present case is whether additional surcharge was leviable for the a.y. 1963-64 under the relevant finance act. the assessee's contention .....

Commnr. of Sales Tax, Orissa and ors. Vs. Crown Re-roller (P) Ltd. and ...

Court : Supreme Court of India

Reported in : 2007(210)ELT334(SC); JT2007(8)SC278; 2007(11)OLR(SC)206; 2007(4)SCALE196; (2007)3SCC659; 2007(1)LC430(SC); 2007AIRSCW2812

..... in this view of the matter, any notification issued by government order in exercise of power under section 7 of the bihar finance act, if is found to be repugnant to the industrial policy declared in a government resolution, then the said notification must be held to be ..... air1999sc303 this court has held:7. coming to the second question, namely, the issuance of notification by the state government in exercise of power under section 7 of the bihar finance act, it is true that issuance of such notifications entitles the industrial units to avail of the incentives and benefits declared by the state government in ..... is issued by the state government after such policy is approved by the cabinet itself. the issuance of the notification under section 7 of the bihar finance act is by the state government in the finance department which notification is issued to carry out the objectives and the policy decisions taken in the industrial policy itself. .....

Munjal Sales Corporation Vs. Commissioner of Income Tax, Ludhiana and ...

Court : Supreme Court of India

Reported in : (2008)215CTR(SC)105; [2008]298ITR298(SC); 2008(2)SCALE598; (2008)3SCC185; 2008AIRSCW1369

..... if such interest is received by him on behalf, or for the benefit, of any other person;section 40(b)iv after finance act 1992 w.e.f.1.4.93:amounts not deductible40. notwithstanding anything to the contrary in sections 30 to 38, the following amounts shall not be deducted in computing the income chargeable under the head ..... clarification which we were required to give in the context of deductions under sections 30 to 38 to be read with the limitation prescribed under section 40. since there was some confusion with regard to the status of section 40, particularly, after enactment of finance act 1992, we have explained the law in the context of deductions under chapter ..... on behalf of assessee, contended that prior to 1.4.93, section 40(b) referred to disallowances per se but after the finance act 1992 the said section 40(b)(iv) allows deduction, subject to the above limit of 18/12% per annum. according to learned counsel, section 40(b)(iv) talks about statutory deduction and that the question .....

indodan Industries Ltd. Vs. State of U.P. and ors.

Court : Supreme Court of India

Reported in : 2009(13)SCALE421; 2009(10)LC4845(SC)

..... in this sense that the interest is compensatory in nature and in order to recover the lost revenue, the levy of interest is contemplated by section 120 of the finance act, 2000 retrospectively.7. keeping in mind the above, we find no infirmity in the judgment of the allahabad high court and, for the aforestated ..... delayed payment under section 9 of the central sales tax act, 1956 (hereinafter referred to as 1956 act). on 12th may, 2000, finance act 2000 came into force. vide section 119 of the finance act, 2000, sub-section (2b) came to be inserted in section 9 of the 1956 act. we quote hereinbelow sub-section (2b) which stood inserted in section 9:if the ..... for determination before the allahabad high court:(1) whether sub-section (2b) of section 9 of the central sales tax act, 1956, inserted on 12th may, 2000 by the finance act of 2000 is retrospective? and(2) whether section 120 of the finance act, 2000 which was a validating act was invalid inasmuch as it purports to validate a provision .....

Shree Choudhary Transport Co. Vs. Income Tax Officer

Court : Supreme Court of India

..... 19.3. on the other hand, in the case of calcutta export company (supra), this court noticed the aforesaid two amendments to section 40(a)(ia) of the act by the finance act, 2008 and by the finance act, 2010, which were intended to deal with procedural hardship likely to be faced by the bonafide tax payer, who had deducted tax ..... court further proceeded to observe that any other interpretation would amount to punishing the assessee for no fault of his. the high court further observed that section 11 of the said finance act, inserting sub-clause (ia), did not provide that the same was to become effective from the assessment year 2005-2006. we may usefully reproduce ..... the decision in commissioner of income-tax v. calcutta export company: (2018) 404 itr654 wherein this court has held the remedial amendment of section 40(a)(ia) of the act by the finance act, 2010 to be retrospective in nature and applicable from the date of insertion of the said provision. 10.4. learned counsel for the appellant .....

State of Bihar and ors. Vs. Harihar Prasad Debuka and ors.

Court : Supreme Court of India

Reported in : AIR1989SC1119; 1989(2)BLJR85; 1989(1)SCALE464; (1989)2SCC192; [1989]1SCR796; [1989]73STC353(SC); 1989(1)LC684(SC)

..... no. s.o. 1432 dated 28th december 1985 as violative of articles 301 and 304 of the constitution of india.2. sub-section (2-a) of section 31 of the bihar finance act, 1981 was substituted by bihar finance act, 1984 as follows:(2-a) a person transporting goods shall carry a declaration in such form as may be prescribed by the ..... aforesaid amended provision the following notification was issued:the 28th december 1985.s.o. 143 -in exercise of the powers conferred by sub-section (2-a) of section 31 of the bihar finance act, 1981 (bihar act 5 of 1981) part i, the commissioner adopts forms xxviii a and xxviii b as the declaration for the purpose of the aforesaid ..... the state to exercise legitimate regulatory control is independent of the restrictions imposed by article 302-305 as was hold in state of madras v. natraja : [1968]3scr829 .14. while examining whether there is a violation of the freedom guaranteed by article 301, one has to scrutinise whether the impugned legislative or executive .....

Bajaj Auto Limited Vs. Union of India

Court : Supreme Court of India

..... is that while the two cesses discussed aforesaid were in the nature of levy on the excise duty payable, the nccd is levied on the product itself, as per section 136 of the finance act, 2001. it is this aspect, inter alia, which was canvassed by the department to persuade this court to take a different view from the one taken qua the ..... dispute pertains to the liability of the appellant to pay the unpaid three cesses referred to aforesaid.8. now turning to the three cesses in question, nccd was imposed under section 136 of the finance act, 2001, in the nature of a duty of excise, in 4 addition to any other duties of excise chargeable under the 1944 ..... goods specified in the seventh schedule as they apply in relation to the levy and collection of the duties of excise on such goods under that act or those rules, as the case may be. (emphasis supplied) 9. sections 91 & 93 of the finance act, 2004 introduced the education cess as a duty of excise calculated on the aggregate of all duties of excise .....

M/s Trimurthi Fragrances (p) Ltd. Through Its Director Shri Pradeep Ku ...

Court : Supreme Court of India

..... the earth. ... ii. manufactured tobacco ... (5) chewing tobacco, including preparations commonly known as "khara masala", "kimam", "dokta", "zarda", "sukha" and "surti".4. the finance act, 1988 (central act no.26/1988) substituted the expressions in section 14(ix) of the cst act, with the following words, w.e.f. 13.05.1988: 14(ix). unmanufactured tobacco and tobacco refuse covered under sub- heading no.2401 ..... and the entries relating thereto, the following shall be substituted, namely 5 the relevant extracts from the finance act, 2001, which again carried out changes, read as follows:" the fourth schedule [see section 134 (a)]. part - i in the first schedule to the central excise tariff act, - (1) in chapter 21, for note3 the following note shall be substituted, namely:3. in this chapter .....