Judgment Search Results Home > Cases Phrase: finance act 1970 chapter iii income tax Court: supreme court of india Page 1 of about 1,482 results (0.098 seconds)

Jyotendrasinhji Vs. S.i. Tripathi and Others

Court : Supreme Court of India

Reported in : AIR1993SC1991; (1993)111CTR(SC)370; [1993]201ITR611(SC); JT1993(2)SC664; 1993(2)SCALE408; 1993Supp(3)SCC389; [1993]2SCR938

..... by them at the rate specified in section 164(1). (section 164(1) has undergone several changes since 1962. the sub-section as introduced by the finance act, 1970 with effect from april 1, 1970 provided that in such case 'tax shall be charged - (i) as if the relevant income or part of relevant income were the total income of the ..... set aside his orders and remitted the appeals back to a.a.c. it is at this stage that the appellant approached the settlement commission under chapter xix(a) of the income tax act, 1961.7. we may now notice the relevant clauses in the deeds of settlements executed in u.k. under these settlement deeds, one mr. ..... may assess either the representative assessee or the person represented by him. that is expressly so enacted in section 166 which states:nothing in the foregoing sections in this chapter shall prevent either the direct assessment of the person on whose behalf or for whose benefit income therein referred to is receivable, or the recovery from such person of .....

Rambai Manjanath Nayak and Others Vs. Union of India and Others

Court : Supreme Court of India

Reported in : AIR1993SC342; (1992)108CTR(SC)294; (1993)1GLR183; [1993]201ITR422(SC); 1992(3)SCALE166; (1992)4SCC742; [1992]Supp3SCR56

..... for acquisition of immovable properties in certain cases of transfer to counteract evasion of tax. in the said chapter, as originally enacted, by income-tax (amendment) act, 1981, section 269ab was inserted with effect from 1st july, 1982 and section 269rr was inserted by finance act, 1986 with effect from 1st october, 1986.9. section 269a contains the definition of expressions used in the ..... -a in the income tax act, 1961 and the scheme of the chapter have been referred to, at length.7. the government of india appointed the direct taxes inquiry committee under the chairmanship of justice k.n. wanchoo, former chief justice of india in 1970 to recommend concrete and effective measures inter alia to unearth black money and prevent its proliferation through further .....

Agricultural Produce Market Committee, Narela, Delhi Vs. Commissioner ...

Court : Supreme Court of India

Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540

..... exemption from income tax under section 10(20) of the 1961 act prior to its amendment by finance act, 2002 w.e.f. 1.4.03.10. prior to the amendment by finance act, 2002, section 10(20) of the income-tax act, 1961 provided as under:chapter iiiincome which do not form part of total incomeincomes not included ..... judgment of this court in the case of r.c. jain (supra) was misplaced.18. learned counsel further submitted that the explanation/definition clause inserted by finance act, 2002 is exhaustive as it uses the expression 'means' as contradistinction from the expression 'includes'. learned counsel submitted that borrowing definition from other statutes is not ..... even the explanatory note indicates that amc (s) is covered by the explanation and, therefore, amc(s) is entitled to the continuance of the benefit of exemption even after finance act, 2002. further, in the explanation to section 10(20) there are three items - item (i) refers to 'panchayat', item (ii) refers to 'municipalities' whereas .....

Chatturam Horilram Ltd. Vs. Commissioner of Income Tax, Bihar and Oris ...

Court : Supreme Court of India

Reported in : AIR1955SC619; [1955]27ITR709(SC); [1955]2SCR290

..... bihar promulgated bihar regulation iv of 1942, which was assented to by the governor-general on the 30th june, 1942. by this regulation, the indian finance act of 1939 (along with finance acts of other years with which we are not concerned) was brought into force in chota nagpur retrospectively as from the 30th march, 1939. the relevant portion ..... became infructuous, by virtue of the decision of the income-tax appellate tribunal and the decision of the high court confirming it, which disclosed that the indian finance act of 1939 was not in operation in the relevant area at the relevant period and that in the absence thereof no valid assessment could be made. the fact ..... of the privy council reported in commissioner of income-tax, bombay & aden v. khemchand ramdas [1938] 6 i.t.r. 414 at 428). chapter iii of the income-tax act headed 'taxable income' contains the various provisions with reference to which taxable income is determined. the tax is leviable under section 3 and is in respect .....

Commissioner of Income Central Ii Vs. Suresh N. Gupta

Court : Supreme Court of India

Reported in : (2008)214CTR(SC)274; [2008]297ITR322(SC); JT2008(1)SC208; 2008(1)SCALE99; (2008)4SCC362; 2008AIRSCW1066

..... block assessment falls not in section 4(1) but it falls under the aforesaid proviso to section 4(1) of the 1961 act.consequently, it is urged that since there is no reference to the finance act under chapter xiv-b (section 158ba), which only looks at a fixed rate of 60% stipulated under section 113, it was not open ..... out by section 158bb. if section 4 has to be read with section 158bb for computing undisclosed income then the provisions of the relevant finance act have got to be read into the block assessment scheme under chapter xiv-b, even prior to 1.6.2002.16. under section 158bb, there is the theory of 'block period'. it is based ..... as against taxation of normal income at the rates prescribed in the relevant finance act; that, the provisions of the finance act are not found in the block assessment scheme under chapter xiv-b up to 1.06.2002 and, therefore, according to the assessee, finance act, 2001 was not applicable to chapter xiv-b. according to the assessee, proviso to section 4(1) .....

Commissioner of Income-tax, New Delhi Vs. Eli Lilly and Company (India ...

Court : Supreme Court of India

Reported in : 2009BusLR418(SC); (2009)223CTR(SC)20; [2009]312ITR225(SC); JT2009(5)SC78; 2009(4)SCALE384; [2009]178TAXMAN505(SC); 2009(4)LC1742(SC); 2009AIRSCW3104

..... purposes of computation or of the 'advance tax' payable under chapter xvii-c, in a case falling under section 115a or section 115b or section 115bb or section 115bbb or ..... if earned in india will include such income payable for services rendered in india. according to the learned counsel, the insertion with retrospective effect from 1.4.1979 by the finance act, 1983, however, was not all inclusive. according to the learned counsel, despite the said amendment, amounts paid to foreign technicians for 'off period' could not be taxed ..... of the 'advance tax' payable under chapter xvii-c in a case not falling under section 115a or section 115b or section 115bb or section 115bbb or section 115e or section 164 or section 164a or section 167b, the rate or rates of income-tax specified in this behalf in the finance act of the relevant year and for the .....

Hari Krishna Bhargav Vs. Union of India (Uoi) and anr.

Court : Supreme Court of India

Reported in : AIR1966SC619; [1966]59ITR243(SC); [1966]2SCR22

..... commencing on the 1st day of april, 1964, shall be made by every person to whom the provisions of that chapter apply at the rates specified in the second schedule.' 3. by s. 44 of the finance act, ch. xxii-a relating to annuity deposit containing sections 280-a to 280-x was introduced into the income-tax ..... 1964-65. by the second schedule to the finance act, rates of annuity deposits are prescribed. the deposit has to be made ..... act. by that chapter taxpayers of certain categories are required to make annuity deposits for every assessment year commencing from the assessment year .....

Minocha Bros. Pvt. Ltd. Vs. Commissioner of Income Tax

Court : Supreme Court of India

Reported in : (1994)116CTR(SC)476; [1993]204ITR628(SC); 1994Supp(2)SCC694

..... the delhi high court (see : [1986]160itr134(delhi) is whether the appellant is an 'industrial company' within the meaning of the said expression as defined in the finance acts of 1971 and 1972. the definition reads as follows :industrial company' means a company which is mainly engaged in the business of generation or distribution of electricity or any ..... to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under chapter vi-a of the income-tax act) is not less than fifty-one per cent of such total income.2. the assessee is engaged in the construction of buildings. for that purpose ..... than 51 per cent. of the total income, i.e., total income for the relevant previous year, as computed before making any deduction under chapter vi-a of the income-tax act. the appellant upon whom lay the burden of establishing the requirements of the said definition has failed to adduce any material to establish that the income .....

C.I.T and Anr Vs. M/S Yokogawa India Ltd.

Court : Supreme Court of India

..... 1.4.2001; the amended section 10a thereafter and also the amendment made by finance act, 2003 with retrospective effect from 1.4.2001.13. the retention of section 10a in chapter iii of the act after the amendment made by the finance act, 2000 would be merely suggestive and not determinative of what is provided by the section ..... sales would have to enter into the computation under the head profits and gains from business in chapter iv and denied the benefit of deduction. the provisions of sub-section 6 of section 10a, as amended by the finance act of 2003, granting the benefit of adjustment of losses and unabsorbed depreciation etc. commencing from the ..... sales, the legislative intent in retaining section 10a in chapter iii of the act would clearly demonstrate the true nature of the said provision of the act even after amendment thereof by the finance act of 2000. deductions from the total income which is nowhere envisaged under the act and the reference to the total income of the undertaking .....

Neil Aurelio Nunes Vs. Union Of India

Court : Supreme Court of India

..... reproduced below: 3.3.1.39 the current annual income tax exemption limit is rs 2,50,000. however, in february 2019 the government through finance act amended the income tax act to provide relief to the low-income individuals wherein anyone having taxable income up to five lakhs of rupees per annum was exempt from paying income ..... identifying the creamy layer of the obc for determining the ews. the major sinho commission was constituted for determining the ews among the unreserved categories. chapter iii of the commission s report noted that the welfare measures (excluding reservation which would require other considerations) may be extended to the ews10category ..... . chapter iv of the report discusses the parameters to determine the ews category. the relevant parameters for the identification of ews were enumerated as follows: (a) .....