Court : Supreme Court of India
Decided on : Nov-05-1971
Reported in : AIR1972SC491; [1972]83ITR346(SC); (1972)4SCC526; [1972]2SCR309
..... tax payable by the assessee on the salary portion of the total income shall be the proportionate amount payable according to the rates provided in the finance act 1963. under section 2 of the finance act 1963 income tax was to be charged at the rates specified in part i of the first schedule-and super tax at the rates specified in ..... contained the rates etc. relating to the surcharge. similar state of affairs existed with regard to finance acts of 1953, 1954, 1957. section 2 of the finance act 1971 is to the effect that the provisions of section 2 and of the first schedule to the finance act 1970 shall apply in relation to income tax for the assessment year or as the case may ..... the super tax was, however, to be increased by a surcharge for the purpose of the union and a special surcharge. it will be noticed that section 2(2) of the finance act 1964 did not contain mention of any of the surcharges. this, led to the controversy which resulted in the reference.4. before the high court the .....
Tag this Judgment!Court : Allahabad
Decided on : Dec-15-1971
Reported in : [1973]88ITR231(All)
..... petition.4. the other contention is that the income-tax officer acted outside the scope of section 35 of the act inasmuch as there was no mistake apparent from the record. there was, it is said, a debatable question whether the finance act, 1958, and the finance act, 1959, warranted 'the reduction of super-tax rebate. it appears ..... that in the rectification proceedings before the income-tax officer it was contended that the relevant provisions of the two finance acts ..... no comparison whatever is possible between the two.5. this is a case where the income-tax officer omitted to apply the relevant provisions of the finance acts of 1958 and 1959, and we are satisfied that the omission constitutes a mistake apparent from the record. it has not been shown to us .....
Tag this Judgment!Court : Allahabad
Decided on : May-21-1971
Reported in : [1972]83ITR895(All)
..... year at the rate or rates mentioned therein. it is in pursuance of this provision that the central legislature enacts finance acts from time to time. section 2 of the finance act of 1963, which is the relevant finance act for our purposes, provides for the charge of income-tax at the rates specified in part 1 of the first ..... which could be supplied to it. the appellate assistant commissioner, thereafter, dismissed the appeal filed by the petitioner on october 9, 1968, holding that so long as no order under section 154 of the act was passed on the application of the assessee, no appeal lay. the petitioner then went up in revision before the commissioner of ..... surcharge.4. the petitioner then filed an application dated august 28, 1970, before the appellate assistant commissioner for rectifying' its appellate order dated october 9, 1968, on the ground that it suffered from a manifest error inasmuch as it proceeded to decide the appeal on a wrong assumption that no order rectifying the .....
Tag this Judgment!Court : Delhi
Decided on : Jan-13-1971
Reported in : ILR1971Delhi107; [1971]28STC21(Delhi)
..... not preceded by the same prescribed notice. they are, thereforee, entitled to succeed in these petitions. (30) the conclusion, thereforee, is that section 6(2) of the bengal finance (sales tax) act 1941 can be amended only by the legislature if the prescribed period of notice of three months is to be done away with. the government ..... other hand, the withdrawal of exemption by the notifications dated 16th june 1966 and 29th june 1966 was invalid for want of compliance with section 6(2) of the bengal finance (sales tax) act 1941. there is, thereforee, no inconsistency in the stand taken by the petitioners in these writ petitions that the withdrawal of the exemption ..... by the decisions in the delhi laws act, rajnarain singh and arnold rodricks and another cases, referred to above, as also by several other decisions of the supreme court culminating in the majority decision in the municipal corporation of delhi v. birla cotton, spinning and weaving mills. delhi and another (1968-3 scr 25l) (9) that .....
Tag this Judgment!Court : Delhi
Decided on : Nov-18-1971
Reported in : ILR1972Delhi475; [1973]32STC113(Delhi)
..... gsr 964 dated 16th june 1966 and gsr 1061 dated 29th june, 1966 are quashed because they were not in compliance with the provisions of section 6(2) of the bengal finance (sales tax) act, 1941. there shall be no order as to costs.' (19) the appellants, union of india, delhi administration and the commissioner of sales ..... sro, 3908 dated 7th december, 1957 was not necessitated by this reason. it was, thereforee, ultra virus section 2 of the union territories (laws) act 1950; (2) such a modification could be made once when the bengal finance (sales tax) act 1941 was extended to delhi in 1951. no modification could be made after such extension; (3) the ..... say that the instrumentalities had not been selected by the legislature itself.(44) in municipal corporation, of delhi v, birla cotton spinning & weaving mills, delhi, : [1968]3scr251 it was observed at page 1239, 'considering the complexity of modern life it is recognised on all hands that legislature cannot possibly have time to legislate in .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Oct-21-1971
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 .....
Tag this Judgment!Court : Kolkata
Decided on : Feb-09-1971
Reported in : [1972]86ITR300(Cal)
..... considering the expression ' income received from investments' in the finance (no. 2) act, 1939, for imposition of excess profits tax. section 12 of the 1939 act dealt with 'profits arising in any chargeable accounting period from any trade or business to which this section applies'. sub-section (4) of section 12 said :'where the functions of a company or ..... the persons carrying on the business are beneficially entitled.' 11. incidentally, the provisions of section 12(4) of the english finance (no. 2) act, 1939, were the same as those in the first proviso to section 2(5) of our excess profits tax act of 1940, and lord greene m. r. in construing the word 'investment' in ..... it seems to me reasonably clear that rents from leases or under-leases can properly, in suitable circumstances, be comprised within the phrase ' income from investments' in the finance (no. 2) act, 1939.'16. scott l.j. at page 610 has described the sub-lease which the broadway car co. has granted, in these words :' . , . . .....
Tag this Judgment!Court : Supreme Court of India
Decided on : Oct-21-1971
Reported in : AIR1972SC1061; [1972]83ITR582(SC); (1971)2SCC779; [1972]2SCR33
..... ), 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, thus ..... , 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 argued ..... v. union of india [1970] i.s.c.r. 479, 489 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 court in .....
Tag this Judgment!Court : Kerala
Decided on : Aug-09-1971
Reported in : [1972]84ITR30(Ker)
..... amount paid by the state government. the liability to tax is not imposed by the finance act, but by the income-tax act. as already observed the levy of super-tax has been authorised by section 95 of the income-tax act and the rate alone is prescribed by the finance act, 1964. the quantum of the amount to suffer reduction in the rebate in the ..... definition is not exhaustive and it cannot help us to understand or to interpret the word 'dividend' used in part ii of the first schedule of the finance act, 1964. counsel for the revenue relied on section 205 of the companies act, 1956, to support his plea that the reduction in rebate has to be on the sum of rs. 3,50,000 ..... , and the levy of supertax was regulated by part ii, paragraph d, of the first schedule read with section 2(1)(b) of that act. section 2(1)(b) of the finance act, 1964, reads:'2. income-tax and super-tax,--(1) subject to the provisions of sub-sections (2), (3), (4) and (5), for the assessment year commencing on the 1st day of april .....
Tag this Judgment!Court : Allahabad
Decided on : Apr-21-1971
Reported in : [1973]87ITR52(All)
..... end of the assessment year was barred by time. relying upon the decision of the gujarat high court, the tribunal held that the order passed under section 23a after its amendment by the finance act of 1955 in the instant case was barred by time. the tribunal, however, did not consider the second contention raised on behalf of the assessee ..... was placed by the tribunal was taken up in appeal before the supreme court. the supreme court held that an order under section 23a of the indian income-tax act, 1922, as amended by the finance acts of 1955 and 1957, made by the income-tax officer directing payment of additional super-tax was not an order of assessment ..... and in the circumstances of the case, the tribunal was right in holding that an order under section 23a of the act after its amendment by the finance act of 1955 is an order of assessment to which the period of limitation prescribed, under section 34(3) applies and such an order cannot, therefore, be made after the expiration of the .....
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