Court : Mumbai
Reported in : 2008(2)MhLj373
..... entry 15 in the second schedule provides that any proposal which affects the finance of the state which does not have the consent of the finance minister has to be placed before the cabinet. ..... it has been said by this court in kasturi lal:it must follow as a necessary corollary from this proposition that the government cannot act in a manner which would benefit a private party at the cost of the state; such an action would be both unreasonable and contrary to public interest. ..... rule 9 provides that all cases referred to in the second schedule shall be brought before the council of ministers. ..... the revenue department as well as the finance department had not agreed for the sale of the entire land. ..... government undertakings which in due course have acquired the monopolist position in matters of sale and purchase of products and with so many ventures in hand, they can come out with a plea that it is not always possible to act like a quasi-judicial authority while awarding contracts. ..... such direction was in keeping with the views expressed by the departments of revenue and finance. .....
Tag this Judgment!Court : Mumbai
Reported in : (1993)122CTR(Bom)201; [1993]205ITR569(Bom)
..... (bom) , this high court was not directly concerned with the issue involved in the present reference, certain observations made by the court in connection with the explanation inserted in rule 1 of the first schedule to the surtax act, with effect from april 1, 1981, by the finance act, 1981, should not influence our mind in deciding the question referred to us.shri dwarkadas, learned counsel for messrs standard mills co. ..... the reported case, the court has considered the first part of the explanation inserted in rule 1 of the first schedule to the surtax act, by the finance act, 1981, which was made applicable from april 1, 1981, that is from the assessment year 1981-82 while, in the present reference, we are concerned with the second part of the said explanation. ..... explanation inserted in rule 1 of the first schedule to the surtax act, this court observed as under at page 178 of the report :'it was lastly submitted by the assessee that by the finance act of 1981, an explanation has been added to rule 1 of the first schedule to the companies (profits) surtax act. ..... :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that rule 4 of the second schedule to the companies (profits) surtax act, 1964, could not be invoked for the purpose of reducing the capital base proportionately having regard to the deductions the assessee-company had obtained in terms of chapter vi-a of the income-tax act in the computation of its total income ? .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1984)41CTR(AP)162; [1984]148ITR440(AP)
..... ii of the para a of the schedule i to the finance act, 1974, and not as per sub-paragraph i ?' 10 ..... ii of para a of schedule i to the finance act, 1974, and not as per sub-para. i. 51 ..... ii of para a of schedule i to the finance act, 1974. 50. ..... ii of para a of schedule i to the finance act, 1974, in view of the partition in which she took a share 45 ..... ii of para a of schedule i to the finance act, 1974, as in his opinion there was at least one member of the huf having an income exceeding the taxable limit, inasmuch as the petitioner did not fill in the particulars as per annex ..... i to the finance act, 1974. r.c. no ..... i to the finance act, 1974. 4 ..... six coparcener, simultaneously and there was then a partition, the case squarely fell within the rule in gowli buddanna's case : [1966]60itr293(sc) , as applied in narendranath's case : [1969]74itr190(sc) , as the property was owned by the huf before partition. 43. ..... for the purpose of the second point arising in the r.c. ..... on the second point we are, therefore, of the opinion that the partition at which the wife was given a share did not have the effect of wiping out her 'sapinda' relationship ..... the second question is whether the assessee's wife is a member of the assessee's family so as to attract the higher rate of tax applicable under sub-para ..... we shall revert back to this aspect in detail while dealing with the second point. 35. ..... secondly, the existence of the 'sapinda' relationship is the test for deciding who is a member of the hindu joint family. 47 .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1957All84
..... on behalf of the respondents it has also been contended that even if parliament had not the power to enact section 7 of the finance act 1951, under the power vested in it by item 84 of list i of the seventh schedule to the constitution, it undoubtedly had that authority under item 97 of the same list which, read with article 246, confers upon it power to make laws with respect to,'any other matter not, enumerated ..... 'in reality, the amendments of the first schedule of the central excise and salt act made by sub-section (1) of section 7 or the finance act, 1951, did not become eaw until 28-4-1951, but parliament has expressly stated that they are to be treated as if they had become law on the ..... payment of the amount by which the excise duty they had already paid on tobacco cleared between the 1st march and 27th april fell short of the amount payable under the finance act, 1951, less the amount of any refund to which they were entitled as a consequence of the abandonment of the proposed duty on unmanufactured tobacco used in the production of biris.6. ..... writ in the nature of mandamus to command the union of india and the excise authorities not to proceed with the levy, collection and realisation of the additional duty set out in the notices of demand, and, secondly, for the issue of a writ in the nature of certiorari to quash these notices of demand.7. ..... sic) as was said in the second chhotebhai jethabhai (sic) case, ..... secondly, counsel has argued that section 7(2) is unconstitutional as .....
Tag this Judgment!Court : Allahabad
Reported in : [1964]51ITR92(All)
..... this is a writ petition under article 226 of the constitution directed against the orders dated the 17th july, 1962, under section 35 of the income-tax act, 1922 (hereinafter referred to as the act), withdrawing the super-tax rebate under clause i (c) to the second proviso to paragraph d of part ii of the first schedule of the finance act of 1958.the material facts leading up this petition are these : the petitioner is a company duly registered with effect from the 31st december, 1953. ..... . commissioner of income-tax, where it was pointed out that the provisions of the first schedule, part ii, paragraph d of the finance act of 1956, which is in pari materia with the relevant finance acts of 1958-59, was not at all analogous to the provisions of the finance act of 1951 which their lordships of the supreme court were called upon to consider in commissioner of income-tax v ..... commissioner of income-tax and the decision of the supreme court condensed in taxation of august, 1960, (since reported in 40 itr 189), that the provisions of the finance act of 1958-59 in regard to the reduction of super-tax rebate was on par with the provision of clause (ii) of the proviso to paragraph b of part i of the first schedule to the indian finance act of 1951 whereby an additional income-tax was charged in respect of dividends distributed in excess of rs. ..... . in the present petition the vires of the provisions of schedule i, part ii, paragraph d of the finance acts of 1958-59 have not even been challenged .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1975]35STC298(MP)
..... would be a form of sugar and, therefore, it would be exempt from taxation by virtue of entry 9 of the second schedule to the bengal finance (sales tax) act, 1941, as extended to the union territory of delhi. ..... bangalore', a division bench of the mysore high court held that sugar would include sugar-candy and both of them were the subject-matter of legislation in the additional duties of excise (goods of special importance) act, 1957, and they would not be wholly exempt from taxation, but the power of the state legislature to tax all those items would be subject to the restrictions provided by the central enactment in view of section ..... -(1) the commissioner may, subject to such conditions as may be prescribed, license under this section any dealer who carries on business in any of the goods specified in schedule iii and whose yearly turnover in respect of all goods specified in schedule i and schedule ii does not exceed ordinarily one lakh rupees, on advance payment of such licence fee not exceeding one thousand rupees a year as may be determined in relation to such dealer in accordance with the ..... of revenue by a statement of case dated 13th may, 1969, has referred the two questions for the opinion of this ..... section 44(2) of the madhya pradesh general sales tax act, 1958, the board of revenue, on a direction given by this court dated 15th january, 1969, in miscellaneous civil case no. ..... 233 of 1967 dated 15th january, 1969, directed the board of revenue to refer the two questions for .....
Tag this Judgment!Court : Jharkhand
Reported in : [2006(4)JCR37(Jhr)]
..... scheduled goods liable to pay tax under the act, becomes liable to pay tax under the bihar finance act ..... act 5, 1981] by virtue of sale of such scheduled goods, his liability to pay tax under the bihar finance act ..... empowered to impose any tax whatsoever on the goods, including 'imported coal', imported from outside the country, as the trade and commerce with foreign countries is covered by entry 41 list 1 of viith schedule of the constitution of india.further declaration has been sought for that the imposition of entry tax on 'imported coal' from outside the country is violative of articles 286 and 301 of the constitution of ..... the stand of the state that the revenue earned is being made over to the local bodies to compensate them for the loss caused, makes the impost compensatory in nature, as augmentation of their finance would enable them to provide municipal services more efficiently, which would help or ease free-flow of trade and commerce, because of which the impost has to he regarded as compensatory in ..... second ordinance was made an act in the name and style of 'bihar taxes on entry of goods into local areas for consumption, use or sale thereof act, 1993' (bihar act ..... . so far as second question, as was framed and answered by the supreme court in the case of bihar chamber of commerce (supra) ..... . secondly, the ban under article 303(1) shall stand lifted even if discriminatory restrictions are imposed by the state legislature provided they fulfill the following three conditions, .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1959SC265; [1959]35ITR168(SC); [1959]Supp1SCR142
..... tribunal was : whether the expression 'at the rate applicable to the total income of the company' as appearing in sub-clause (b) of clause (ii) to the second explanation to proviso to paragraph b of part i of the first schedule to the indian finance act, 1952, means the rate at which a company's total income is actually assessed or the rate prescribed by the respective finance act without taking into consideration the rebate allowed in the respective years in accordance with the provisions of the part 'b' states (taxation concessions ..... , provides that the provisions of section 2 of, and the first schedule to, the finance act, 1951, shall apply in relation to income-tax and super-tax for the financial year 1952-53 as they apply in relation to the income-tax and super-tax for the financial year 1951-52 with the ..... the figures 1950, 1951 and 1952 wherever they occur, the figures 1951, 1952 and 1953 shall be respectively substituted; and so in the present case we are really concerned with the material provisions of the finance act, 1951 (hereinafter called the ..... we accordingly hold that the rate applicable in sub-clause (b) of clause (ii) of the explanation read with clause (ii) of the proviso to paragraph b of schedule i of the act means the rate actually applied in a given case. ..... so we must turn to the first schedule to the act to find the rate at which the appellant can be assessed. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1968SC124; [1967]66ITR604(SC); [1967]3SCR798
..... initiated when rebate in the payment of super-tax was granted to the assessee without reducing it in the circumstances set out in the second proviso to part ii of the first schedule paragraph d in the finance act, 1956, on the ground that the income, profits and gains of the company were assessed to tax at too low a rate ..... the super-tax payable by the company under the finance act, 1956, at the rate of six annas and nine pies in the rupee of the total income and granted a rebate at the rate of four annas in the rupee in accordance with the provisions of clause d proviso (i) (b) & (ii) of the schedule to that act. ..... finance act, 1956, provides insofar as it is material, that : 'subject to the provisions of sub-sections (2), (3), (4) and (5), for the year beginning on the 1st day of april, 1956, - (a) income-tax shall be charged at the rates specified in part i of the first schedule ..... the chief aim and object of the finance act, 1956, is to prescribe the standard or measure of income-tax and super-tax and it seems that an assessee escaping some of its provisions, and failing to pay the full measure of tax is assessed at ..... reading however the provisions of finance act, 1956, as a whole in the perspective that its chief aim and object is to prescribe the rate of income-tax and super-tax, it seems to us that an assessee escaping some of its provisions and ..... consideration for the purpose of reducing the rebate of super-tax admissible under the proviso 2 to paragraph d of the finance act, 1956. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1981SC2105; (1981)25CTR(SC)186; [1981]132ITR559(SC); 1981(3)SCALE1483; (1981)4SCC435; [1982]1SCR789
..... for proposed dividends from out of profits and other surpluses could be considered as 'other reserves' within the meaning of rule 1 of the second schedule to the super profits tax act, 1963 (or rule 1 of the second schedule to the company's (profits) sur-tax act, 1964) for inclusion in capital computation of the company for the purpose of levying super profit tax the first three matters concerning vazir sultan ..... business for the bank was a part of the reserve and had to be taken into account while computing the capital under rule 2(1) of schedule ii of the business profits tax act; similarly, in the second case the court held that the amount which had been allocated to 'earned surplus' which was intended for the purpose of the business of ..... proposed dividend for the two assessment years 1969-70 and 1970-71 and in each of the years the taxing authorities as also the income tax appellate tribunal bombay have taken the view that these appropriations did not constitute 'other reserves' within the meaning of rule i of the second schedule to the companies (profit) surtax act, 1964 and as such were not includible ..... the court further observed that the rate was always easily ascertainable; that if the finance act was passed, it was the rate fixed by that act; if the finance act was not yet passed, it was the rate proposed in the finance bill pending before the parliament or the rate in force in the preceding year whichever was more favourable to the assessee and that all the ingredients of .....
Tag this Judgment!