Court : Supreme Court of India
Reported in : AIR1987SC566; (1986)55CTR(SC)183; [1986]161ITR749(SC); 1986(2)SCALE160; (1986)3SCC689; [1986]3SCR478
..... indian company and the hotel is for the time being approved in this behalf by the central government.the word 'sixth' was substituted for 'fifth' by the finance act 1968 with effect from april 1, 1969.5. with effect from april 1, 1964 the fifth schedule set forth a list of articles and things and items 7, ..... the assessee is a company to which the provisions of section 80e and subsequently of section 80i will apply. section 80i, it may be noted, was deleted by the finance act, 1972 with effect from april 1, 1973. with effect from april 1, 1968 the expression 'priority industry' was defined in section 80b(7) as meaning:the business of generation or ..... from specified industries in the case of certain companies prior to april 1, 1968. section 80e provided:80e(1) in the case of a company to which this section applies, where the total income (as computed in accordance with the other provisions of this act) includes any profits and gains attributable to the business of generation or distribution .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1994]205ITR244(SC); 1995Supp(4)SCC247
..... us to state the several facts of the case except to mention that the question before the high court was whether the explanation to sub-section (1) of section 271, added by the finance act, 1964, with effect from april 1, 1964, makes any difference to the position of law obtaining till then, as explained in this ..... ....(c) has concealed the particulars of his income or deliberately furnished inaccurate particulars of such income. . . .5. section 271(1)(c) of the income-tax act, 1961, as originally enacted, was to the same effect. by the finance act, 1964, however, the word 'deliberately' occurring in clause (c) was omitted and the explanation aforementioned was added. the ..... ]76itr696(sc) (sc) continue to be good law even after the aforesaid amendment effected by the finance act, 1964.6. the following principles were enunciated in anwar all's case : [1970]76itr696(sc) (sc) :(a) the proceedings under section 28 are penal in character.(b) it is for the department to establish that the receipt of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1973]3SCR662a
..... the income tax and excess profit tax (amendment) act, 1947 (act 22 of 1947) which inserted section 12b in the act. it taxed capital gains arising after march 31, 1946. the tax on capital gains was virtually abolished by the indian finance act, 1949 which confined the operation of that section to capital gains arising before april 1, 1948. ..... capital gains tax was, however, revived with effect from april 1, 1957 by the finance (no. 3) act of 1956. sub-section(1) of section 12b along with its first proviso was as under ..... cannot derive much assistance from that case.13. in the case of commissioner of income tax v. dewas cine corporation : [1968]68itr240(sc) this court while dealing with section 10(2)(vii) of the act observed that the expression 'sale' in its ordinary meaning is a transfer of property for a price, and adjustment of the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2006SC444; (2005)199CTR(SC)212; 2005(103)ECC81; [2005]279ITR118(SC); JT2005(10)SC297; 2005(4)KLT770(SC); (2005)13SCC37; [2006]144STC322(SC)
..... has been mentioned above, the challenge is ostensibly to the letter issued by the ministry of finance. but the real challenge is to the amendment in the finance act. that letter is only clarifying what section 67 of the finance act, 1994, as amended by act 14 of 2001, provides. 6. section 65(47) defines photography as including still photography, motion picture photography, laser photography, aerial photography and ..... fluorescent photography. section 65(48) defines photography studio or agency as including any professional photographer or a commercial .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2010SC676; [2010]154CompCas48(SC); JT2010(1)SC499; 2010(1)SCALE535; (2010)2SCC706; [2010]98SCL65(SC); 2010(2)LC645(SC)
..... the case of v.v. ruia v. s. dalmia : air 1968 bombay 347 where the question arose as to whether the bye-laws of the bse, which were made prior to its recognition under section 4, needed publication under sub-section (4) of section 9 of the 1956 act. it was held that the bye-laws made by the bombay stock ..... consisting of three members, including sebi, and a nominated public representative, had been constituted and after inquiry it had recommended that the trading in the scrip of presto finance ltd. should not be recommended and might be de-listed permanently. mr. jaideep gupta referred to the inquiry report of the assistant police inspector, general branch, crime branch ..... stock exchange as well as from the bombay stock exchange.20. mr. gupta submitted that no fault could be found with bse in listing the shares of presto finance ltd., since the same had been listed on the ahmedabad stock exchange earlier, but as soon as information was received from the ahmedabad stock exchange that there was .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1984SC541; 1984LabIC301; (1984)ILLJ314SC; 1983(2)SCALE1060; (1984)2SCC141; [1984]2SCR200; 1984(1)SLJ474(SC); 1984(16)LC44(SC)
..... icar started as a department of the government of india having an office in the secretariat even though it was a society registered under the societies registration act. it was wholly financed by the government of india. its budget was voted upon as part of the expenses incurred in the ministry of agriculture. even when its status underwent ..... the faculty in protest against such a treatment and against the discrimination and victimization shown to me by the head of the division in the allotment of students of 1968 and 1969 batches and departmental candidates.40. this letter was placed before the meeting of the academic council convened on may 3, 1971 chaired by respondent no. ..... examined and full justice would be done to him for the discrimination and victimisation to which he has been subjected in the matter of allotment of students of 1968 and 1969 batches, nothing has been done in this behalf. he further states that he has been all along patiently waiting for the redressal of his grievance, .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2008)220CTR(SC)217; [2008]307ITR393(SC); 2008(13)SCALE742
..... case (supra) did not deal with investment allowance under section 32a of the act. it in fact related to 'development rebate' under section 33. it is to be noted that section 43a in the present form was substituted by the finance act, 2002 w.e.f. 1.4.2003. prior to its substitution section 43a as inserted by the finance act, 1967 w.e.f. 1.4.67 and ..... contained sub-section (2). the said sub-section as it stood at the relevant point of ..... amended by direct tax laws (amendment) act, 1987 w.e.f. 1.4.1989 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2009(237)ELT7(SC); JT2009(4)SC11; 2009(3)SCALE818; 2009(3)LC1119(SC); (2009)11VatReporter146; (2009)21VST490(SC)
..... the balance admitted tax of rs. 1,02,45,572/- by 15.7.2005, otherwise the proceedings for imposition of penalty will be initiated against you under section 16(9) of bihar finance act, 1981 as adopted by jharkhand.11. boc in its letter dated dated 15.7.2005, addressed to the deputy commissioner, commercial taxes, jamshedpur circule, jamshedpur, ..... balance admitted tax of rs. 1,02,45,572/- by 20.5.2005, otherwise the proceedings for imposition of penalty will be initiated against you under section 16(9) of bihar finance act, 1981 as adopted by jharkhandanother notice dated 29.6.2005 was also issued, stating:in spite of informing you by this office's letter no. 188 ..... 9.1983, it was provided:s.o. 1096 the 9th september, 1983- in exercise of the powers conferred by sub-section (1) of section 13 of the bihar finance act, 1981 part 1 (bihar act no. 5, 1981) and in supersession of finance (commercial taxes) department notification no. s.o. 604, dated the 12th april, 1982, the governor of bihar is .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1975SC946; [1975(30)FLR133]; [1975]99ITR592(SC); 1975LabIC602; (1975)IILLJ12SC; (1975)3SCC862; [1975]3SCR542; 1975(7)LC231(SC)
..... rebate or development allowance) or credit or relief or deduction (not hereinbefore mentioned in this section) in the payment of any direct tax allowed under any law for the time being in force relating to direct taxes or under the relevant annual finance act, for the development of any industry.7. the rates of income-tax applicable to private ltd ..... as contemplated by section 7(e) of the act. 5. aggrieved, the mazdoor sangh impugned the tribunal's award, dated 29-2-1968, by a writ petition under article 227 of the constitution before the high court of bombay. the high court held that the company being an industrial company, was liable to pay tax under the finance act, 1966 at the ..... in the levy of income-tax provided in the finance act, 1966 is to be construed a 'rebate' or 'relief' in the payment of any direct tax, for the development of an industry for the purposes of section 7(e) of the payment of bonus act, 1965, (for short, the bonus act) is the short question that falls to be answered .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC501; (1989)1CompLJ43(SC); (1988)75CTR(SC)20; [1989]175ITR523(SC); JT1988(4)SC666; 1988(2)SCALE1556; 1989Supp(2)SCC7; [1988]Supp3SCR1058
..... the foreign exchange was received from a company which was neither an indian company nor a domestic company. section 80-o was inserted in the act by the finance act 2 of 1967 and it came into force with effect from april 1, 1968. section 80-o, as it stood on that day, provided that the payer should be a foreign company ..... and the relief was enlarged to 60 per cent. finance act 2 of 1971 made an amendment in section 80-o changing the payer from 'foreign company' to 'government of ..... of the learned counsel for both parties relating to the interpretation of the expression 'foreign enterprise' occurring in section 80-o, we may refer to the legislative background. under section 85-c of the act, which was introduced by the finance act, 1966 and which came into force with effect from april 1, 1961, indian companies could obtain concession to .....
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