Judgment Search Results Home > Cases Phrase: finance act 1976 section 27 amendment of act 27 of 1957 Page 1 of about 2,439 results (0.149 seconds)

Y.D. Nanje Gowda Vs. Union of India and anr.

Court : Karnataka

Reported in : ILR1985KAR955; [1985]152ITR618(KAR); [1985]152ITR618(Karn)

..... the finance act of 1976 again amended the rates only retaining the clause in principle effected in the finance act of ..... 1974), as amended by the finance act of 1976 (central act no. ..... section 2 of the finance act, 1974, also made corresponding amendments in ..... sri prasad has contended that the amendment made to the act by the finance acts subjecting an huf with one member whose net wealth exceeds rupees one lakhs to higher rate of tax was discriminatory, irrational, arbitrary and was violative ..... is ancestral property or not, have the self-acquired property thrown into the family hotchpot, so that individual's income liable to higher tax rate is reduced and also liability arising due to clubbing of income under section 64 of the income-tax act, 1961, is avoided; and (d) retain the ancestral property as the property of joint family as otherwise the property as well as the income from such property will be assessed in the hands of the members ..... that the taxation law (amendment) act, 1970, and the finance (no.2) act, 1971, have plunged the leakage of tax through the device of throwing self-acquired property into the common hotchpot by and the income-tax act, 1961, the wealth-tax act, 1957, and the gift-tax act, 1958. ..... act of 1957 (central act ..... the act that came into force from april 1, 1957, has been enacted to provide for levy of wealth-tax on the net wealth on the corresponding valuation date of every individual, huf ..... 27 of 1957) ('the act'), on the file of the first wealth-tax officer, hassan .....

Indian Agencies (Regd.), Bangalore Vs. Additional Commissioner of Comm ...

Court : Supreme Court of India

Reported in : JT2005(1)SC16; 2005(1)KLT327(SC); (2005)2SCC129; [2005]139STC329(SC)

..... tax (registration and turnover) rules, 1957 reads thus:'12(1) the declaration and the certificate referred to in sub-section 4 of section 8 shall be in forms c and d respectively:provided that form c in force before the commencement of the central sales tax (registration and turnover) (amendment) rules 1974, or before the commencement of the central sales tax (registration and turnover) (amendment) rules 1976, may also be used upto the ..... as sufficient compliance of the alternative requirement of rule 12 (2) and (3) of the central rules and rule 6(b)(ii) of the state rules for the levy of tax @ 4% under sub-section (1) read with sub-section (1) and (4) of section 8 of the central act.justification for the alternative proposition:(a) when lower rate of 4% tax would be admissible on production of additional duplicate of the c form with the prescribed endorsement recorded in red ink on ..... the course of inter-state trade or commerce -(a) sells to the government any goods; or(b) sells to a registered dealer other than the government goods of the description referred to in sub-section (3)shall be liable to pay tax under this act, with effect from such date as may be notified by the central government in the official gazette for the purpose which shall be two per cent, of his turnover or at the rate ..... , the question that arose in this case was whether under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, the furnishing of declaration forms issued by the purchasing dealers .....

Shree Fats and Proteins Ltd. Vs. Union of India (Uoi) and ors.

Court : Rajasthan

Reported in : [2006]146STC310(Raj)

..... [1975] 35 stc 571 it was felt that levy of a interest would also be unsustainable, therefore by central sales tax (amendment) act, 1976 section 9 was amended and the words, 'charging for payment of interest' was inserted with retrospective effect and a validation section with regard to interest was also introduced. ..... for the petitioner, has submitted that section 120 of the finance act, 2000 seeking to validate the levy on interest on central sales tax was itself invalid as the provision of section 9 of the central act incorporating sub-section (2b) therein for levying interest on late payment of cst was prospective in nature; the validating act without curing the defect pointed out by the supreme court and failing to amend the section 9 of the central sales tax act retrospectively cannot stand the scrutiny of this ..... 103 of 1976 and clause 9, sub-clause (4) which validates the levy of interest from january 5, 1957 and another by the finance act, 2000 again for the same period. .....

Engineering Analysis Centre Of Excellence Private Limited Vs. The Comm ...

Court : Supreme Court of India

..... royalty under the income tax act67 the insertion of sub-sections (v), (vi) and (vii) in section 9(1) of the income tax act, by way of an amendment through the finance act 1976,37 was to introduce source-based taxation for income in the hands of a non-resident by way of interest, royalty and fees for technical services. ..... equally, he submitted that the retrospective amendment to section 9(1)(vi) of the income tax act brought in by the finance act 2012, which added explanation 4 to the provision and expanded its ambit with effect from 01.06.1976, could also not be applied to the dtaa in question.14. ..... quite obviously, such a circular cannot apply as it would then be explanatory of a position that existed even before section 9(1)(vi) was 111 actually inserted in the income tax act vide the finance act 1976. ..... it is not even the case of the revenue that any right contemplated under section 14 of the copyright act, 1957 stood vested in this cellular operator as a consequence of article 20 of the supply contract. ..... 103 service fees received by the non-resident assessee (relatable to the assessment year 1957-1958) could only be deemed to accrue in india if such income could be attributed to a business connection in india. ..... pointing to the provisions of the copyright act, 1957 [ copyright act ]. ..... we must look into the meaning of the word copyright as given in the copyright act, 1957. ..... the copyright act, 1957 33. .....

Binani Industries Ltd., Kerala Vs. Assistant Commissioner of Commercia ...

Court : Supreme Court of India

Reported in : JT2007(5)SC311; 2007(5)SCALE429; 2007(1)LC0515(SC); (2007)6VST783(SC); 2007AIRSCW3071; JT2007(5)SC311; 2007-08(6)VATToday128; 2007(2)KCCRSN81; 2007(4)AIRKarR295

..... explaining the salient features of the amendments effected to the provisions of karnataka sales tax act, 1957 by karnataka taxation laws (second amendment) act, 1996 at paras 16 and 17, the position of law relating to section 5c of the karnataka sales tax act, 1957 as amended by the said amendment act was stated to be as follows: ..... section (10) of section 35 of the income tax act was enacted by the finance act ..... that sub-section, insofar as it is necessary to state for the purpose of this case, provided that where in any of the assessment years 1948-49 to 1955-56, a rebate of income tax was allowed to a company under the finance act prevailing in that year on a part of its total income and subsequently the amount on which the rebate of income tax was allowed as aforesaid is availed of by the company, ..... in any case, or by reason of the fact that an appeal or other proceeding is pending before the appellate tribunal or the high court or the supreme court, shall be excluded:provided that nothing contained in this section limiting the time within which any action may be taken or any order, assessment or re-assessment may be made, shall apply to an assessment or re-assessment made on the assessee or any person in consequence of, or ..... in its assessment to income tax for the year 1952-53, the appellant, a company had been granted under the provisions of the finance act, 1952, a rebate on a portion of its profits of the previous year, that is, 1951 which it had not distributed as ..... act, 1976 .....

F. S. Gandhi (Dead) by Lrs. Vs. Commissioner of Wealth Tax, Allahabad

Court : Supreme Court of India

Reported in : AIR1991SC1866; (1990)84CTR(SC)35; [1990]18ITR34(SC); JT1990(3)SC476; (1990)3SCC624; [1990]2SCR886

..... by the finance act, 1969 clause (e) of section 2 of the act was substituted by the following provision:(e)- 'assets' includes property of every description, movable or immovable, but dos not include-(1) in relation to the assessment year commencing on the 1st day of april, 1969 or any ..... the finance act, 1969, whereby clause (e) of section 2 of the act was substituted, was enacted by parliament ..... question relate to assessment years 1971-72 to 1974-75 the matter has to be considered in the light of the provisions contained in clause (e) of section 2 of the act as substituted by finance act, 1969. ..... construction placed by the high court in a case where an interest has been created for a period exceeding six years it would be included in the assets of the assessee under section 2(e) of the act only after the expiry of the period of six years even though the interest is available to the assessee for a period exceeding six years from the date the interest vests in the ..... section 2(e)(v) as amended in 1964 are identical with the provisions of section 2(e)(2)(iii), as substituted by the 1969 amendment ..... within one month before the prescribed authority under urban ceiling act, 1976 (act 33 of 76) if it had already not been filed who shall proceed to decide the same ..... these appeals, by certificate granted by the high court under section 29(1) of the wealth tax act, 1957, (hereinafter referred to as 'the act') are directed against the judgment of the high court of allahabad dated february 2, 1982 in .....

Rojer Mathew Vs. South Indian Bank Ltd and Ors Chief Manager

Court : Supreme Court of India

..... a scrutiny of part xiv of the finance act, 2017 discloses how by virtue of sections 158 to 182, parliament has amended twenty-five central enactments which form the foundation for multiple tribunals. ..... illustratively, the composition of appellate tribunal under the smugglers and foreign exchange manipulators (forfeiture of property) act, 1976, delineating this incongruity is reproduced below for reference: appellate tribunal under the smugglers and foreign exchange manipulators (forfeiture of property) act, 1976 (1) or is qualified to be a judge of a supreme court or a judge of a high court. ..... birla cotton, spinning and weaving mills, delhi and another34 this court, however, upheld section 113(2) of the delhi municipal act, 1957 which had empowered the corporation to levy certain optional taxes by observing that there were sufficient guidelines, safeguards and checks in the act which prevented excessive delegation as the act had provided maximum rate of tax. ..... 100 in state of bombay v united motors (india) ltd.57, chief justice patanjali sastri held that the doctrine of severability should be extended in dealing with taxing 55 1957 scr93056 1951 scr68257 1953 scr106982 statutes. ..... the need for supervisory jurisdiction over tribunals was again discussed in 1957 when the frank s committee made its recommendations which were implemented by the tribunal and inquiries act, 1958. ..... the copyright act 1957 iv. .....

National Assn. of Motion Pictures Exhibitors, Delhi Vs. Union of India ...

Court : Delhi

Reported in : ILR1983Delhi691

..... section 6(2) of the bengal finance act had provided that the state government after giving by notification in the official gazette not less than 3 months notice of its intention to do so may omit or amend ..... on december 7, 1957 the central government purported to make an amendment in the notification issued in 1951 by which the bengal finance sales tax act had been extended by pureorting to modify sub-section 2 of section 6 by adding clause (aa) substituting for the words 'not less than 3 months' the words 'such previous notice ..... licensee cannot increase the rates for admission to the cinematograph exhibition without first getting the written approval of the licensing authority as required by section 7a of the punjab act; (v) that if the licensee increases the rate of admission without the approval obtained under section 7a (2) punjab act he will be contravening the provisions of section 7a and action to suspend or revoke the license can be validly taken under rule 8 of the delhi cinematograph rules; (vi) that before ..... : [1976]1scr552 wherein it was observed : 'we are, thereforee, of opinion that the correct view is that notwithstanding the subordinate legislation being laid on the table of the house of parliament or the state legislature and being subject to such modification, annulment or amendment as they may make, the subordinate legislation cannot be said to be valid unless it is within the scope of the rule making ..... of india : [1976]2scr785 but that authority ..... , : [1976]2scr785 . .....

The Commissioner of Income Tax, Gujarat Ii, Ahmedabad Vs. Shri R.M. Am ...

Court : Supreme Court of India

Reported in : AIR1977SC999; [1977]106ITR368(SC); (1977)1SCC691; [1977]2SCR220; 1977(9)LC31(SC)

..... the tax on capital gains was virtually abolished by the indian finance act, 1949 which confined the operation of section 12b to capital gains arising before april 1, 1948. ..... in the case of indian companies and the other companies falling within the definition of company, as given in section 2(17) of the act of 1961, the legislature has made express provision in sub-section (2) of section 46 of the act that where a shareholder on the liquidiation of a company received any money or other assets from the company, he shall be chargeable to income-tax under the head 'capital gains' in respect of the money so received or the market value ..... on appeal before the appellate assistant commissioner reference was made on be half of the assessee to the definition of the word 'transfer' in section 2(47) of the act of 1961, according to which transfer in relation to a capital asset includes the sale, exchange or relinquishment of the asset or the extinguishment of any rights therein or the compulsory acquisition thereof under any ..... the question as to whether the distribution of assets of a company which has gone into voluntary liquidation to its shareholder would amount to sale, exchange, relinquishment or transfer within the meaning of section 12b of the act of 1922 as amended in 1956 was considered by this court in the case of commissioner of income-tax madras v. ..... gains tax was, however, revived with effect from april 1, 1957 by the finance (no. ..... taxed capital gains arising after march 31, 1976. .....

Commissioner of Wealth-tax Vs. Trustees of H.E.H. the Nizam's Wedding ...

Court : Andhra Pradesh

Reported in : [1995]216ITR232(AP)

..... whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in holding that the right to wear the jewellery is not an asset so as to be assessed under section 21(1) of the wealth-tax act, 1957, in the hands of the trust representing the beneficiary, even after the retrospective amendment of section 5(1)(viii) of the wealth-tax act, 1957, by the finance (no. ..... the revenue filed applications under section 27(3) of the wealth-tax act, 1957, to refer the following questions for opinion : '1. ..... 67 of 1969, dated november 5, 1971, held that the right to wear jewellery was not an asset within the meaning of section 2(e) of the wealth-tax act and, therefore, the same was not taxable under section 21(1) of the act. ..... whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in holding that the assessment orders of the wealth-tax officer passed for the assessment years 1976-77 to 1980-81 are bad in law for assessing the beneficiary's life interest in the jewellery under section 21(1) of the wealth-tax act, 1957 2. ..... we, therefore, agree with the tribunal that neither the interest of the sahebzadi in the jewellery fund nor her interest in the shares fund is an asset within the meaning of the wealth-tax act. ..... 2) act, 1971 ?' 2. .....