Court : Supreme Court of India
Reported in : [1977]106ITR76(SC)
..... services of any deceased person, or which is chargeable under that head under clause (ii) of sub-section (2) of section 56 of the income tax act, and xx xx xx xx28. clause (ii)of section 109 was again amended by finance act, 1968 (act 19 of 1968) with effect from april 1, 1969. as a result of this amendment, the clause read as ..... .23. in 1959 the statutory percentage was raised to 50 per cent for industrial companies and to 65 per cent for non-industrial companies by means of section 11 of finance act, 1959 (no. 12 of 1959) with effect from april 1, 1960. the statutory percentage was reduced from 100 per cent to 90 per cent in ..... has, on the other hand, contended that the expression 'a company whose business consists wholly or mainly in the holding of investments' appearing in section 23a of the act as amended by finance act, 1955 means a company whose income is derived from investments in contra-distinction to the income received from manufacturing or processing or trading operations and .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1977SC153; [1977]106ITR45(SC); (1977)1SCC7; [1977]1SCR798
..... past services of any deceased person, or which is chargeable under that head under clause (ia) of sub-section (2) of section 56 of the income tax act, and28. clause (ii) of section 109 was again amended by the finance act, 1968 (act 19 of 1968) with effect from april 1, 1969. as a result of this amendment, the clause read as under: ..... 23. in 1959 the statutory percentage was raised to 50 per cent for industrial companies and to 65 per cent for non-industrial companies by means of section 11 of finance act, 1959 (12 of 1959) with effect from april 1, 1960. the statutory percentage was reduced from 100 per cent to 90 per cent in ..... on the other hand, contended that the expression a company whose business consists wholly or mainly in the holding of investments appearing in section 23-a of the act as amended by finance act, 1955 means a company whose income is derived from investments in contradistinction to the income received from manufacturing or processing or trading operations and .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1985SC1585; (1985)2CompLJ389(SC); (1985)47CTR(SC)349; [1985]155ITR120(SC); 1985(1)SCALE1216; (1986)1SCC43; [1985]Supp1SCR778; 1986(1)LC86(SC)
..... sub-section (1) of section 80m were omitted with effect from 1st april 1968 so that right from the date of its enactment, section 80m sub-section (1) was to be read as if the words 'received by it' were not ..... % of such incomethere were several amendments made subsequently in this section but they relate primarily to the percentage of the income to be allowed as a deduction and do not have any bearing on the question of interpretation posed before us. one amendment is however material and that was made by the finance act 1968 by which the words 'received by it' occurring in .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1950]SuppSCR102
..... criminal procedure code does not purport to be exhausted or unqualified and various provisions for arrest without warrant are to be found in other acts e.g., police act, arms act, explosives act, indian railways act, etc.; and section 1 (2) of the criminal procedure code expressly lays down that the provisions of the code would not affect any special form of ..... province by the provincial list without any necessity to invoke powers from the concurrent list. in these circumstances, no question of repugnancy under section 107 of the constitution act did at all arise or fall for consideration. it will be seen that while this court based its decision in meghraj's case on ..... try offences under the ordinance does not affect or touch in the least any provision of the criminal procedure code. as there is no repugnancy, section 107 of the government of india act cannot have any application to the present case. 17. it is then argued by mr. umrigar, though somewhat faintheartedly, that the promulgation .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1950SC134; (1950)52BOMLR719; [1950]181ITR472(SC); [1950]1SCR335
..... exempt from duty as he carried on the profession of a journalist, the profits of which depended mainly upon his personal qualifications within the meaning of the finance act. on appeal, sankey, j. reversed the decision of the general commissioners and held that the assessee was not in the position of an ordinary journalist but ..... in comparison with the personal qualifications required to earn the profits, and that he was exempt from duty by virtue of para. (c) of section 39 of the finance (no. 2) act, 1915. the general commissioners having discharged the assessment, their decision was reversed by sankey j. who held that maxse was carrying on a commercial ..... of the tribunal and held that the assessees' contention was correct. the commissioner of income-tax has come in appeal from that decision. in the excess profits tax act, section 2(5) defines 'business' as follows :- ''business' includes any trade, commerce or manufacture or any adventure in the nature of trade, commerce or manufacture..... .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1950]18ITR472(SC)
..... exempt from duty as he carried on the profession of a journalist, the profits of which depended mainly upon his personal qualifications within the meaning of the finance act. on appeal, sankey, j., reversed the decision of the general commissioners and held that the assessee was not in the position of an ordinary journalist ..... in comparison with the personal qualifications required to earn the profits, and that he was exempt from duty by virtue of para. (c) of section 39 of the finance (no. 2) act, 1915. the general commissioners having discharged the assessment, their decision was reversed by sankey, j., who held that maxse was carrying on a ..... the tribunal and held that the assessees contention was correct. the commissioner of income-tax has come in appeal from that decision. in the excess profits tax act, section 2(5) defines 'business' as follows :-'business includes any trade, commerce or manufacture or any adventure in the nature of trade, commerce or manufacture.....provided .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1950SC172; (1950)52BOMLR745; [1950]20CompCas179(SC); [1950]1SCR391
..... learned counsel for the plaintiffs contends that both the courts below were in error in holding that there has been no contravention of the provisions of section 105-c of the indian companies act. that section is in the following terms :- 'where the directors decide to increase the capital of the company by the issue of further shares such shares shall ..... of the company for further capital and decided upon to issue further shares. the issue of further shares served two purpose, namely, the purpose of finding the necessary finance and to exclude the interlopers, both of which purposes, according to the directors, were for the benefits of the company. rightly or wrongly, the directors felt that ..... .'reference was also made to the concluding part of the same judgment which runs thus :- 'undoubtedly this is a case of high finance and we have been given a glimpse of what high finance can be and there is great justification in what mr. amin has said as to the manner in which some of the things .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1950SC27; 1950CriLJ1383; (1950)IIMLJ42(SC); [1950]1SCR88
..... has been used. 250. in the fourth and last point raised by mr. nambiar the principal question for consideration is the validity of section 14 of the preventive detention act. sub-section (1) of section 14 prohibits any court from allowing any statement to be made or any evidence to be given before it of the substance of any communication ..... of the law of preventive detention for reasons connected with supplies and services essential to the life of the community. this subject has been put under section 9 in act iv of 1950. suppose a tense situation arises and there is a danger of the railway system being sabotaged and it becomes necessary to pass detention ..... the constitution itself provides in minute details the legislative powers of the parliament and the state legislatures. the same feature is noticeable in the case of the judiciary, finance, trade, commerce and services. it is thus quite detailed and the whole of it has to be read with the same sanctity, without giving undue weight to .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1950)52BOMLR764; (1950)IIMLJ559(SC); [1950]1SCR553
..... first charge......upon the said building or land......' 14. it creates a statutory charge on the building. 15. urban immoveable property tax is leviable under section 22 of part vi of the bombay finance act, 1932, on the annual letting value of the property. the duty to collect the tax is laid on the municipality and it does so in the ..... income-tax, madras i.l.r. 1944 mad. 399 in which moneys paid as urban immoveable property tax under the bomaby finance act were disallowed as inadmissible under section 9(1)(iv) or 9(1)(v) of the indian income-tax act. this decision merely followed the view expressed in commissioner of income-tax, bombay v. mahomed within the meaning of schedule ..... same manner as in the case of the municipal property tax. section 24(2)(b) is in terms similar to section 212 of the bombay municipal act. it makes the land .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1950]18ITR516(SC)
..... , be a first charge......upon the said building or land......' it creates a statutory charge on the building.urban immovable property tax is leviable under section 22 of part vi of the bombay finance act, 1932, on the annual letting value of the property. the duty to collect the tax is laid on the municipality and it does so in ..... mamad keys v. commissioner of income-tax, madras, in which moneys paid as urban immovable property tax under the bombay finance act were disallowed as inadmissible under section 9(1)(iv) or 9(1)(v) of the indian income-tax act. this decision merely followed the view expressed in commissioner of income-tax, bombay v. mahomedbhoy rowji and was not arrived ..... the manner as in the case of the municipal property tax. section 24(2)(b) is in terms similar to section 212 of the bombay municipal act. it makes the land .....
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