Court : Supreme Court of India
Reported in : AIR1995SC2109; (1995)125CTR(SC)124; [1995]214ITR801(SC); JT1995(3)SC393; 1995(2)SCALE490; 1995Supp(2)SCC453
..... of an unusual practice' ignores the prevalent malpractice that was noticed by the direct taxes enquiry committee and the recommendations made by the said committee which led to the amendment of the act by the finance act of 1972 whereby the exemption from tax that was available in respect of winnings from lotteries, crossword puzzles, races, etc. ..... wanchoo, retired chief justice of india) the definition of 'income' in section 2(24) of the act was amended with effect from april 1, 1972 by the finance act, 1972 so as to include within its ambit, winnings from lotteries, cross word puzzles, races including horse races, card games and other games of any sort or from gambling or betting ..... the appeals filed against the said order before the income tax appellate tribunal were withdrawn by the appellant under section 245m(2) of the income tax act, 1961 [hereinafter referred to as 'the act'], and on august 6, 1976 she moved the application giving rise to this appeal, before the settlement commission wherein the appellant stated that she was agreeable to a reasonable addition on ..... srinivasan] upheld the assessment for the assessment years 1971-72 and 1972-73 made by the income tax officer and confirmed by the appellate assistant commissioner of income tax; but did not find it possible under section 245-e to accede to the request of the ..... winnings in racing became liable to income tax from april 1, 1972 but one would not give up an activity yielding or likely to yield a large income merely .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2001SC1080; JT2001(3)SC256; 2001(2)SCALE272; (2001)9SCC35; [2001]2SCR198
..... into existence by the finance act, 1972 with effect from april 1, 1972. ..... 194c was amended by the finance act, 1995 with effect from 1st ..... the appellant did not deduct the tax at source from the payments made by it to the transporters under section 194c of the income tax act, by letter dated 18th march, 1995 the income tax officer required the appellant to deduct the tax at source from such payments in accordance with ..... the two possible interpretations of a taxing statute, which favours the assessee and which has been acted upon and accepted by the revenue for a long period should not be disturbed except for ..... is no controversy that according to the understanding of revenue of section 194c, right from 1st april, 1972 till issue of the impugned circular, this provision was not applicable to the payments made in respect ..... circular states that some of the issues raised in circular no.86 dated 29th may, 1972 and circular no.93 dated 26th september, 1972 need to be reviewed in the light of the judgment of this court in ..... doubt that if the only view of section 194c had been the one reflected in the impugned circular, then the issue of earlier circular and acceptance and acting thereupon by the revenue reflecting the contrary view would have been of no consequence. ..... soon after insertion of section 194c, a circular dated 29th may, 1972 was issued, inter alia, stating that the provisions of section 194c would apply only in relation to 'work contracts' and 'labour contracts' and will not cover .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2004)1CompLJ50(SC); (2003)184CTR(SC)450; [2003]263ITR707(SC); JT2003(Suppl2)SC205; 2003(8)SCALE287; (2004)10SCC1
..... finance act, 1972 (act 16 of 1972) modified section 90 and brought it into force with effect from 1.4.1972 ..... the following words:'it is, i think, necessary to consider what, if any, legal concept is involved in the use of this popular and pejorative word, i apprehend that, if it has any meaning in law, it means acts done or documents executed by the parties to the 'sham' which are intended by them to give to third parties or to the court the appearance of creating between the parties legal rights and obligations different from the actual ..... provisions of the statute can best be implemented and what measures, substantive as well as procedural would have to be incorporated in the rules or regulations for the efficacious achievement of the objects and purposes of the act, it is not for the court to examine the merits or demerits of such a policy because its scrutiny has to be limited to the question as to whether the impugned regulations fall within the scope of ..... the scope of the doctrine of stare decisis with reference to halsbury's law of england and corpus juris secundum, pointing out that a decision which has been followed for a long period of time, and has been acted upon by persons in the formation of contracts or in the disposition of their property, or in the general conduct of affairs, or in legal procedure or in other ways, will generally be followed by courts of ..... sub-section (1) and sub-section (2) was inserted by finance act, 1991 with retrospective effect from april 1, 1972. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1993SC1671; (1993)112CTR(SC)302; [1993]201ITR866(SC); JT1993(3)SC174; (1993)2MLJ82(SC); 1993(2)SCALE588; 1993Supp(3)SCC222; [1993]3SCR328
..... sub-clause (ix) which was inserted by the finance act, 1972 reads as follows:(ix) any winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or from gambling or betting of any form or ..... too was introduced by the finance act, 1972 supports the said view. ..... the clause has been amended by finance act, 1986 but we are not concerned ..... (b) a perusal of the memorandum explaining the provisions of the finance bill, 1972, which inserted the said sub-clause in section 2(24), also shows that the idea behind the sub-clause was to rope in windfalls from lotteries, races and ..... that the word income means realisation of monetary benefit and that in the absence of any such realisation by the assessee the inclusion of any amount by way of notional income under section 23(2) of the act in the chargeable income was impermissible and outside the scope, of entry 82 of. ..... the question referred under section 256(1) of the income-tax act reads as follows:whether, on the facts and in the circumstances of the case, the appellate tribunal was right in holding that the total ..... the challenge was to the validity of section 23(2) of the act which provided that where the property consists of house in the occupation of the owner for the purpose of his own residence, the annual value of such house shall first be determined in the same manner ..... council pointed out that 'anything than can properly be described as income is taxable under the act unless expressly exempted. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1987SC566; (1986)55CTR(SC)183; [1986]161ITR749(SC); 1986(2)SCALE160; (1986)3SCC689; [1986]3SCR478
..... section 80i, it may be noted, was deleted by the finance act, 1972 with effect from april 1, 1973. ..... of any hotel where such business is carried on by an indian company and the hotel is for the time being approved in this behalf by the central government.the word 'sixth' was substituted for 'fifth' by the finance act 1968 with effect from april 1, 1969.5. ..... section 80e provided:80e(1) in the case of a company to which this section applies, where the total income (as computed in accordance with the other provisions of this act) includes any profits and gains attributable to the business of generation or distribution of electricity or any other form of power or of construction, manufacture or production of any one or more of the articles or things specified in the list in the fifth schedule ..... on the facts and in the circumstances of the case, the assessee-company was entitled to the benefits conferred by the provisions of sections 33(1)(b)(b)(i) and 80-i of the income tax act, 1961?the high court answered those questions in favour of the revenue and against the assessee. ..... the high court of punjab and haryana holding that the sale of insulated copper wires manufactured by the appellant-assessee does not entitle it to the benefits conferred by sections 33(1)(iii)(c)(a) and 80e of the income tax act, 1961 for the assessment years 1966-67 and 1967-68 and the benefits conferred by sections 33(1)(b)(b)(i) and 80i of the income-tax act, 1961 for the assessment years 1968-69 to 1971-72.2. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2005SC2119; 2005(1)ALD(Cri)717; 2005CriLJ2161; 118(2005)DLT329(SC); JT2005(3)SC195; 2005(3)MhLj530; 2005(II)OLR(SC)102; (2005)4SCC370; 2005(1)LC675(SC)
..... customs and excise commissioners (1979) 2 all er 91, while interpreting a provision in the finance act, 1972, lord denning observed that if the literal construction leads to impracticable results, it would be necessary to do little adjustment so as to ..... is one upon which an action for penalties can be brought by a public officer or by a person aggrieved and a penal act in its wider sense includes every statute creating an offence against the state, whatever is the character of the penalty for the ..... as pointed out in sachida nand singh, after preparing a forged document or committing an act of forgery, a person may manage to get a proceeding instituted in any civil, criminal or revenue court, either by himself or through someone set up by him and simply file the document ..... section 195(1)(b)(ii), whereby the bar created by the said provision would also operate where after commission of an act of forgery the document is subsequently produced in court, is capable of great misuse. ..... a different effect to clear words of the section where there cannot be any doubt as to their ordinary meaning, but they are not to be treated as if they were marginal notes or were introduced into the act merely for the purpose of classifying the enactments. ..... they constitute an important part of the act itself, and may be read not only as explaining the sections which immediately follow them, as a preamble to a statute may be looked to explain its enactments, but as affording a better key to the constructions .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1978SC897; (1978)1SCC636; [1978]3SCR98; [1978]41STC409(SC)
..... commissioner to have been despatched by, or on behalf of dealer to an address outside the (union territory) of delhi; (vi) such other sales as may be prescribed; this was the definition until 28th may, 1972, when by finance act, 1972 the main enactment in section 5(2)(a)(ii) was substituted by the following provision :(2) in this act the expression 'taxable turnover' means that part of a dealer's gross turnover during any period which remains after deducting therefrom-(a) his turnover during that period on-(i) x x x x (ii) sales to a registered ..... ' within the meaning of section 5(2)(a)(ii) and the second proviso was not confined to the territory of delhi, but also included resale outside the territory of delhi and similarly, for the period upto 28th may, 1972 when section 5(2)(a)(ii) was amended by finance act, 1972 'manufacture' and 'sale' contemplated by the section were not restricted to the territory of delhi but could also be outside. ..... this was in conformity with the requirement of section 5(2)(a)(ii) as it stood prior to its amendment and though section 5(2)(a)(ii) was substituted by the finance act of 1972, no amendment was made in the form of the certificate of registration and it was only on 29th march, 1973 that clause (3) of the form of the certificate of registration was substituted so as to declare that the sales of the specified goods to .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1990SC33; 1989(24)ECC395; 1989(43)ELT79(SC); (1990)1GLR508; JT1989(3)SC576; 1989(2)SCALE553; (1989)4SCC81; [1989]Supp(1)SCR86; 1990(1)LC98(SC)
..... liable to duty under item 18-e of the first schedule under the finance act, 1972 w.e.f. 17.3.72. ..... schedule to the central excises & salt act, 1944 (1 of 1944) as on the date of clearance of the aforesaid cotton fabrics, and(b) in the case of woollen yarn, as on the date of clearance of such woollen yarnfrom the factory of the manufacturer; should, however, the amount of duty ..... of the revised rates and/or exemption limit from the date of alteration and liability for duty leviable on the quantity of cotton yarn or yarn falling under item 18-e of the first schedule to the central excises & salt act, 1944 (1 of 1944) used in the manufacture of cotton fabrics or woollen yarn produced shall not be discharged unless differential duty is paid (a) in the case of such cotton yarn, or yarn falling under item 18-e of the first ..... discharge of liability for duty on payment of certain sum-(1) having regard to the average production of cotton fabrics from one kilogram of cotton yarn or yarn falling under item 18-e of the first schedule to the central excises & salt act, 1944 (1 of 1944) or the average prevailing prices of woollen yarn the central government may, by notification in the official gazette, fix from time to time a rate per square metre of the cotton fabrics produced or per kilogram .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1978)7CTR(SC)0020B
..... 5(2)(a)(ii) was amended with effect from 28th may 1972 by finance act, 1972 and the words in the union territory of delhi were added after the word manufacture so as to provide that manufacture should inside the territory of delhi. ..... to the public under a licence or sanction granted or deemed to have been granted under the indian electricity act, 1910 (ix of 1910) of goods for use by it in the generation or distribution of such energy;(v) sales of goods which are shown to the satisfaction of the commissioner to have been dispatched by, or on behalf of dealer to an address outside the (union territory) of delhi;(vi) such other sales as may be prescribed;this was the definition until 28th may, 1972, when by finance act, 1972 the main enactment, in s. ..... 5(2)(a)(ii) was substituted by the finance act of 1972, no amendment was made in the from of the certificate of registration and it was only on 29th march, 1973 that clause (3) of the from of the certificate of registration was substituted so as to declare that the sales of the specified goods to ..... 5(2)(a)(ii) was amended by finance act, 1972 and the words in the union territory of delhi were added after the word manufacture and the words inside delhi after the word sale. ..... 5(2)(a)(ii) was amended by finance act, 1972 manufacture and sale contemplated by the section were not restricted to the territory of delhi but could also be outside. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2003]263ITR706(SC); [2003]132TAXMAN373(SC)
..... finance act, 1972 (act 16 of 1972) modified section 90 and brought it into force with effect from 1-4-1972 ..... existing section 90 was renumbered as sub-section (1) and sub-section (2) was inserted by finance act, 1991 with retrospective effect from 1-4-1972. ..... on the scope of the doctrine of stare decisis with reference to halsburys law of england and corpus juris secundum, pointing out that a decision which has been followed for a long period of time, and has been acted upon by persons in the formation of contracts or in the disposition of their property, or in the general conduct of affairs, or in legal procedure or in other ways, will generally be followed by courts of higher authority other than the ..... made in section 90 was intended to empower the government to enter into agreement with foreign government, if necessary, for relief from or avoidance of double taxation, is also made clear by the finance minister in his budget speech, 1953-54is the double taxation avoidance convention dtac) illegal and ultra vires the powers of the central government under section 90 54. ..... to tax and the other of which will not, is at liberty to choose the latter and to do so effectively in the absence of any specific tax avoidance provision such as s.460 of the income and corporation taxes act, 1970.in ramsay and in burmah the result of application of the principle was to demonstrate that the true legal effect of the series of transactions entered into, regarded as a whole, was precisely nil. .....
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