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East India Hotels Ltd. and Another Vs. the State of Rajasthan and Othe ...

Court : Rajasthan

Reported in : 2001(3)WLC62

..... ceases to enjoy the character on account of which it was entitled to exemption under section 6 or 21, or (b) is acquired, by transfer or otherwise, or any building is built, rebuilt or enlarged, during any year after the commencement of the rajasthan urban land tax (amendment) act 1973, the owner, if not already liable to pay tax shall, subject to the other provisions of this act, by liable to pay tax from the year following the year during which the land ..... 'one and half lakh,' according to the latest census figures: provided further that if any area is declared a cantonment or is constituted a municipality, after the commencement of the rajasthan urban land tax (amendment) act, 1973, the tax on lands and buildings situate in such area shall be levied and collected with effect from the commencement of the year following the year during which the area is declared a cantonment or is ..... not have been envisaged when the original act was introduced in 1964 or when it came into force in 1973 and, therefore, sections 13, 15 and 15b of the act cannot and need not be compared with section 3 (1b) of the act which has been subsequently introduced by the rajasthan ordinance of 1988 or by the finance act, 1989; and, the two provisions deal ..... that the land be valued by belting and development method or by capitalisation of rent; (c) that the value of subject land be taken on the basis of its assessment under the wealth tax act, 1957 whereunder the subject land had been valued in the hands of m/s. .....

East India Hotels Ltd. and anr. Vs. State of Rajasthan and ors.

Court : Rajasthan

Reported in : AIR2001Raj286; [2001]250ITR789(Raj); 2001(4)WLN217

..... (4) for the purpose of revision of the tax under sub-sections (2) and (3), (a) the reference in section 4 and in clause (a) of sub-section (1), to 'the date of commencement of the rajasthan urban land tax (amendment) act, 1973,' shall be construed as a reference to the 1st day of april, of the year in which the direction under the said sub-sections is issued ; and(b) the period of ninety days referred to in section 7 shall be computed from the date on which such direction is issued. ..... such a situation could not have been envisaged when the original act was introduced in 1964 or when it came into force in 1973 and, therefore, sections 13, 15 and 15b of the act cannot and need not be compared with section 3(1b) of the act which has been subsequently introduced by the rajasthan ordinance of 1988 and by the finance act, 1989 ; and, the two provisions deal with altogether separate situations. ..... the one-time tax ; (b) that the land be valued by the belting and development method or by capi-talisation of rent; (c) that the value of subject land be taken on the basis of its assessment under the wealth-tax act, 1957, whereunder the subject land had been valued in the hands of lake palace holels and motels pvt. .....

Standard Chartered Bank and ors. Etc. Vs. Directorate of Enforcement a ...

Court : Supreme Court of India

Reported in : AIR2005SC2622; 2005(4)ALD10(SC); III(2005)BC119(SC); [2005]125CompCas513(SC); (2005)4CompLJ464(SC); 2005(3)CTC39; (2005)195CTR(SC)465; 119(2005)DLT687(SC); 2005(100)ECC457;

..... for example, if this maxim is applied to construe a section such as section 56(1)(i) of the foreign exchange regulation act, 1973, it is not permissible for the court to hold that the section would mean one thing in the case of an offender, who is a natural person and something else in the case of an ..... amendment was made in wealth tax act, 1957 also by insertion of sub-section (3) in section 35ha by the same finance ..... petition before the high court of bombay challenging various notices issued to them under section 50 read with section 51 of the foreign exchange regulation act, 1973 (for short, the fera act) and contended that the appellant company was not liable to be prosecuted for the offence under section 56 of the fera act. ..... context of provisions of section 56 of the foreign exchange regulation act 1973 (for short 'fera ..... the offences mentioned under section 56(1) of the fera act, 1973, namely those under section 13, clause (a) of sub-section (1) of section 18; section 18a; clause (a) of sub-section (1) of section 19; sub-section (2) of section 44, for which the minimum sentence of six months' imprisonment is prescribed, are serious offences and if committed would have serious financial consequences ..... section 56 of the fera act, 1973 ..... the argument that the criminal procedure code, 1973 recognises different stages of cognizance, prosecution, conviction and punishment and that it is open to the court to stop short of actual imposition of punishment, is opposed to the law laid down by .....

Tolaram Jalan and ors. Vs. Commissioner of Wealth Tax.

Court : Kolkata

Reported in : (1987)59CTR(Cal)41

..... the wt act, 1957, its retrospective amendment by the finance (no. ..... the wt act, 1957 was amended by the finance (no. ..... 5 with retrospective effect it must be held that the said section stood amended at the relevant time when the orders of assessment were made and therefore the said orders must be deemed to suffer from a mistake apparent from the record even though the same were a result ..... 'on the basis of the said amended section of the wt act, the wto proceeded to rectify the ..... wt act as it stood before and after the amendment :section 5. ..... it was contended before the aac on behalf of the assessee that the amended section was not applicable were the assessment had already been completed and that the ..... by the said amendment jewellery was excluded was excluded from the items exempted under the said section with retrospective effect ..... of the items of jewellery consisted of ornaments of precious or semi-precious metal without stones and therefore, would still be entitled to exemption as the same were not jewellery within the meaning of the amended section. ..... the tribunal on behalf of the revenue that against the assessment order in question appeals had been filed both before the aac and the tribunal and therefore, on the date of the amendment of the section, i.e. ..... on behalf of the assessee that thought the appeals were filed against the assessment orders the same were finally disposed of by 22-3-1973. ..... before the aac was decided on 4-2-1971 and the appeal before the tribunal was decided on 22-3-1973.3. .....

Sundaram Spinning Mills Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1984)8ITD226(Mad.)

..... it must be remembered that the law prior to the retrospective amendment by the finance act, 1975, with effect from 1-4-1973 was that a provision made on an actuarial or scientific basis towards gratuity by an assessee who keeps accounts on mercantile basis was allowable as a deduction following the rationale of the decision of the house of lords in southern railway of peru ltd. v. ..... though, section 40a(7)(a) bars the deduction of provision because of the insertion of section 40a(7) by the finance act, 1975, with retrospective effect from 1-4-1973, there are two exceptions. ..... according to the learned counsel, sub-clause (ii) would apply only to such of those cases where a gratuity fund is set up after the enactment of the provision by the finance act, 1975, and the payment of 50 per cent is made before 31-3-1976 and the balance on or before 31-3-1977. ..... this is the principle embodied in sub-clause (i) of clause (b) of sub-section (7) of section 40a.since, however, this provision was brought into effect retrospectively by the finance act, 1975, with effect from 1-4-1973, it was decided that an opportunity should be given to those employers who had already made provisions to create a gratuity fund before 1-4-1976 and make payments to the extent of 50 per cent before 1-4-1976 and the balance ..... owen (inspector of taxes) [1957] 32 itr 737, approved by the supreme court in metal box co. .....

Estate Late Shri Dharambir Vs. the Dcit [Alongwith Ita Nos. 7279,

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)96TTJ(Mum.)880

..... to simplify the procedure section 155(7a) was introduced by finance act 1978 with retrospective effect from 1974-75 ..... then as per finance act 1987 section 45(5) was introduced having clause (a) and (b) ..... it was held as under:- "held, dismissing the application for reference, that the tribunal was correct in holding that the amounts received by the assessee by way of interest in respect of additional compensation under the land acquisition act, 1894, were not taxable in view of the finding of the tribunal that the grant of additional compensation and interest thereon had not become final due to appeals preferred by the government to the high court. ..... 2004 by finance act 2003. ..... till then, can it be held that the assessee had "received" the enhanced compensation within the meaning of section 45(5) is a question to be answered in negative otherwise also it is a settled law that if there is any dispute with respect to an income, the said income cannot be said to accrue or arise unless the dispute is finally settled either by the process of law or by ..... 1/4/88 by the finance act 1987. ..... 1/4/88 by finance act, 1987 ..... the ld.cit (appeal) should have appreciated that additional compensation allowed to be withdrawn is taxable within the provisions of section 45(1) and only the year of taxation has been amended by introduction of section 45(5).3. ..... it was reintroduced by finance act 1956 w.e.f.1957-58. ..... up till assessment year 1973-74 the original compensation was taxed as capital gain in the year of receipt .....

Estate of Late Shri Dharambir

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)95ITD83(Mum.)

..... the procedure section 155(7a) was introduced by finance act, 1978 with ..... as per finance act, 1987 section 45(5) was ..... to our notice that now sub-clause (c) has also been introduced in addition to clauses (a) & (b) to section 45(5) with effect from 1-4-2004 by the finance act, 2003. ..... -section (5) was introduced with effect from 1-4-1988 by the finance act ..... attention of the assessing officer on the provisions of section 45(5) which was introduced with effect from 1-4-1988 by the finance act, 1987. ..... "held dismissing the application for reference, that the tribunal was correct in holding that the amounts received by the assessee by way of interest in respect of additional compensation under the land acquisition act, 1894, were not taxable in view of the finding of the tribunal that the grant of additional compensation and interest thereon had not become final due to appeal preferred by the government to the high ..... section 155(7a) according to which where in the assessment for any year the capital gain arising from the transfer of capital asset, being a transfer by way of compulsory acquisition, is computed under section 48 and such compensation is enhanced by any court or the tribunal, etc.the same can be recomputed in accordance with the section 48 by taking the enhanced compensation to be the full value of the consideration received and shall make the necessary amendment ..... finance act, 1956 with effect from 1957 ..... uptil assessment year 1973-74 the original compensation was taxed as .....

Brij Sunder Kapoor Vs. I Additional District Judge and ors.

Court : Supreme Court of India

Reported in : AIR1989SC572; JT1988(4)SC529; 1988(2)SCALE1418; (1989)1SCC561; [1988]Supp3SCR558

..... therefore, hold that the decree obtained by the respondents is saved by the provisions of section 3, sub-section (4) of the cantonment, (extension of rent control laws) act of 1957 as amended by act 22 of 1972.from the, above decision it will be seen that sub-section (4) is independent of sub-sections (2) and (3) and has effect whether or not the extension of laws made to the ..... conferred by section 3 of the cantonments (extension of rent control laws) act, 1957, under which the earlier notification was issued is without force and must be rejected(underlining ours)this principle will also apply in the present case for, while the notification dated 3-4-1972 was issued in exercise of the power under the unamended section 3, the one dated 1-9-1973 was issued in exercise of the new power available after the amendment of act 22 of ..... of this power, issued a notification in 1951, extending the provisions of the bengal finance (sales tax) act, 1941 to the then part c state of delhi with certain modifications set out in section 6. ..... this court held that a notification under section 2 part c states (laws) act, 1950 having been issued in 1951 by the central government extending the bengal finance (sales tax) act, 1941 to the state of delhi, the power given by section 2 exhausted itself on the extension of the enactment and could not be exercised again to enable the issue of a fresh notification modifying the terms in which the bengal act was extended. ..... finance (sales tax) act, had been extended .....

Hanuman Mal Sekhani Vs. Commissioner of Wealth-tax

Court : Rajasthan

Reported in : (1986)57CTR(Raj)185; [1987]168ITR364(Raj)

..... cwt : [1981]132itr868(mp) and held that the intention of parliament in adding the words ' but not including jewellery' in section 5(1)(viii) retrospectively with effect from april 1, 1963, by the finance (no.2) act, 1971, and the addition of explanation 1 giving a wider meaning to the word ' jewellery ' prospectively with effect from april 1, 1972, by the same finance (no. ..... the income-tax appellate tribunal, jaipur bench, jaipur (hereinafter referred to as ' the tribunal'), rejected the assessee's story about the alleged gift, it was held that the assessee was married in may, 1957, and there was no evidence on record to support the assertion of the assessee that the gold ornaments in question were gifted by the assessee to smt. ..... it was pointed out by their lordships of the supreme court that jewellery was excluded from the purview of clause (viii) of section 5(1) of the act with effect from-aprill, 1963, and so the amendment made in clause (viii) would become operative with effect from april 1, 1963. ..... the tribunal was of the view that two questions of law did arise out of its order dated december 19, 1973, and as such by the order of the tribunal dated december 27, 1974, the following two questions have been referred by the tribunal to this court for its opinion :' 1. ..... cwt : [1973]90itr97(sc) in respect of the interpretation of sections 5(l)(viii) and 5(l)(xv) of the wealth-tax act and the entitlement of the assessee to the exclusion of the value of jewellery amounting to rs. .....

Badshah Khan Vs. Commissioner of Wealth-tax

Court : Guwahati

..... act, 1957: 'whether, on the, facts and in the circumstances of the case, the tribunal was right in holding that the calculation of penalty up to march 31,1969, was to be made under section 18(1)(i) of the wealth-tax act, 1957, as it originally stood from april 1, 1965, to march 31, 1969, as substituted with effect from april 1, 1965, by section 18 of the wealth-tax (amendment) act, 1964, and thereafter under section 18(1)(i) as substituted by section 24 of the finance act, 1969 ' sections 14, 15 and 18 of the w.t ..... however, the aac held that the amended provisions of the act brought in by the finance act, 1969, would not apply and the penalty should be on the basis of the law that existed in the assessment year and accordingly directed that the penalty should be calculated at the rate of 2% of the net assessed ..... act, 1957, as it originally stood but it went wrong in holding that the calculation of penalty from april 1, 1969, should be under section 18(1)(i) as substituted by the finance act, ..... aac held that the petitioner would be governed by the then existing law prevalent on june 30, 1969, and the provision of the amendment brought by the finance act from april 1, 1965, could not be applied. ..... ) act, 1964, and again amended by the finance act, 1969, which came into force from april 1, ..... 96 (gau) and 97 (gau) of 1973-74 decided by the tribunal on december 11, 1974 was set aside by the decision of this court in t.k ..... 96 (gau) and 97 (gau) of 1973-74 dated november 12, 1974, wto v. t.k. .....