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Distributors (Baroda) Pvt. Ltd. Vs. Union of India (Uoi) and ors.

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 .....

Nawn Estates (P.) Ltd. Vs. Commissioner of Income-tax, West Bengal

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 .....

The Nawn Estates (P)ltd. Vs. C.i.T., West Bengal

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 .....

The Bank Of Rajasthan Ltd. Vs. Commissioner Of Income Tax

Court : Supreme Court of India

..... the date on which interest is first due after the date of purchase.5. under the income tax act, 1961 (for short, the it act ), section 18, which was repealed by the finance act, 1988, dealt with tax leviable on the interest on securities. section 19 provided for the deduction of (i) expenses in realising the interest and (ii) the interest payable ..... case of a banking civil appeal no.3291 3294 of 2009, etc. page 3 of 45 company. section 21 provided that the interest payable outside india was not admissible for deduction. sections 18 to 21 were repealed by the finance act, 1988, effective from 1st april 1989. we are dealing with cases involving the period post the deletion ..... i.e. income from the business including the income from the securities.5. the relevant section of the act which deals with the matter of set off of losses in computing the aggregate income is section 24. the relevant part of it, before the finance act, 1955, read: (1) where any assessee sustains a loss of profits or gains .....

Renjit K.g.. Vs. Sheeba

Court : Supreme Court of India

..... had notice of the pending 8 litigation. at the outset, it appears pertinent to reiterate the settled position that the doctrine of lis pendens as provided under section 52 of the act does not render all transfers pendente lite to be void ab initio, it merely renders rights arising from such transfers as subservient to the rights of the ..... the underlying suit does not automatically render it null and void. on this ground alone, we find the impugned order to be wholly erroneous as it employs section 52 of the act to nullify rsd and on that basis, concludes that the impleadment application is untenable. contrary to this approach of the high court, the law on impleadment ..... a decree holder qua a third party to the suit and the right of a third party after being dispossessed has been laid down by this court in sriram housing finance & investment (india) ltd. v. omesh mishra memorial charitable trust, (2022) 15 scc176:2022. scc online sc794 wherein it was held as follows: 24. on conjoint reading .....

M/s Shriram Investments Vs. The Commissioner Of Income Tax Iii Chennai

Court : Supreme Court of India

..... claim after the revised return was barred by time. this court considered the appellate power of the appellate tribunal under section 254 of the it act. paragraphs 10 and 11 of the said decision in the case of wipro finance ltd1 read thus:- 10. the learned asg appearing for the department had faintly argued that since the appellant in ..... return of income are mandatory in nature.8. coming to the decision of the tribunal, we find that the tribunal has not exercised its power under section 254 of the it act to consider the claim. instead, the tribunal directed the assessing officer to consider the appellant's claim. the assessing officer had no jurisdiction to consider the ..... by the officials of the appellant. yet, the itat entertained the claim as permissible, even though for the first time before the itat, in appeal under section 254 of the 1961 act, by relying on the dictum of this court in national thermal power co. ltd. further, the itat has also expressly recorded the no objection given .....

Union Of India Vs. Rajeev Bansal

Court : Supreme Court of India

..... period, then the time limit for completion or compliance of such action was extended to 30 june 2021. iii. finance act 2021 10. the finance act 2021 substituted the entire scheme of reassessment under sections 147 to 151 of the income tax act with effect from 1 april 2021. page 41 of 112 part a substantial changes were brought about by the ..... petitions and quashed all the reassessment notices issued between 1 april 2021 and 30 june 2021 under the old regime on the ground that: (i) sections 147 to 151 stood substituted by finance act 2021 from 1 april 2021;26 (ii) in the absence of any saving clause, the revenue could initiate reassessment proceedings after 1 april 2021 only ..... 119 60. the above principles can be applied as follows to the factual situation in the present appeals: (i) the finance act 2021 substituted sections 147 to 151 of the income tax act with effect from 1 april 2021; (ii) sections 147 to 151 of the old law ceased to operate from 1 april 2021; (iii) after 1 april 2021, any .....

Chief Commissioner Of Central Goods And Service Tax Vs. M/s Safari Ret ...

Court : Supreme Court of India

..... object is that a registered person does not take advantage of both depreciation and itc.29. now we come to sub-section (4) of section 16. before the amendment made by the finance act, 2022, the sub-section read thus: 16. .. .. .. .. .. .. .. .. .. (4) a registered person shall not be entitled to take input tax credit in respect ..... which have been uploaded by the supplier under sub-section (1) of section 37 till the due date for furnishing the details under sub-section (1) of said section for the month of march, 2019. the finance act, 2022, substituted the words due date of furnishing return under section 39 for the month of september with thirtieth day of ..... are based upon the interpretation of the phrase machinery or plant under section 41 of the finance act, 1971 which was applicable and there appears no such distinction for grant of allowance on different heads as provided under section 32 of the income tax act. (7) to differentiate a building for grant of additional depreciation by .....

Khalsa University Vs. The State Of Punjab

Court : Supreme Court of India

..... .. for the above reasons, we accept the contentions of the learned counsel for the appellant, and hold that section 5 of the second amendment act (act 11 of 1966), introducing section 13-a in the act, is discriminatory and violative of article 14 of the constitution and, as such, has to be struck down as ..... laws, life sciences and other courses under the general heads of the arts and humanities, social sciences etc.2. as the establishment of such private self financed universities requires a broadly uniform set of 11 guidelines for ensuring academic standards, prevention of commercialization and mismanagement etc., it deemed, therefore, expedient to provide ..... colleges which were affiliated with the khalsa university are the khalsa college of education, amritsar established in 1954, khalsa college for women, amritsar established in 1968 and khalsa college of pharmacy, amritsar established in 2009. apart from that, the appellants have given a specific undertaking stating thus: it is accordingly .....

Sukanya Shantha Vs. Union Of India

Court : Supreme Court of India

..... tribes act, 1871. 141 section 9, criminal tribes act, 1871. 142 section 10, criminal tribes act, 1871. 143 section 12, criminal tribes act, 1871. 144 sections 13, 14, criminal tribes act, 1871. 145 section 17, criminal tribes act, 1871. 146 section 18(ii), criminal tribes act, 1871. 147 section 18 (viii), criminal tribes act, 1871. 148 section 18 (iv), criminal tribes act, 1871. 149 section 18(v), criminal tribes act, 1871. 150 section 18(v), criminal tribes act, 1871. 151 section 18 ..... (xii), criminal tribes act .....