Judgment Search Results Home > Cases Phrase: finance act 1978 chapter iii direct taxes Court: mumbai Page 11 of about 1,733 results (0.253 seconds)

Shriyans Prasad JaIn Vs. R.K. Bhalla, Income-tax Officer, Company Circ ...

Court : Mumbai

Reported in : [1974]94ITR34(Bom)

..... to draw the conclusion that this is one more instance of device adopted to evade and avoid payment of substantial income-tax.' 21. the commission has in this chapter also summarised circumstances on the basis of which these findings have been arrived at. 22. the income-tax officer has studied and scrutinised the findings of the commission ..... the original assessment was not a genuine document; that in fact it was forged and antedated and he relied upon the findings of the commission which are contained in chapter x of the report which related to the sum of rs. 7 lakhs. as held in s. narayanappa's case, the expression 'reason to believe' does not ..... 16. the commission of inquiry was appointed by the central government under notification s. r. o. no. 2993 of the ministry of finance (department of economic affairs) on december 11, 1956, under the commission of inquiry act (no. ix of 1952) to inquire into and report on the administration of nine companies, the nature and extent of the control, .....

Stup Consultants Ltd. Vs. Central Board of Direct Taxes and Others

Court : Mumbai

Reported in : (1990)90CTR(Bom)116; [1991]187ITR353(Bom)

..... qualify for deduction under any other provisions under the heading 'c' of chapter vi-a including section 80-o. in this context, it is desirable to mention that section 80hhb was brought into the income-tax act by the finance act, 1983, with effect from april 1, 1983. the finance bill, 1982 was introduced in the lok sabha on february 27, 1982. ..... apply only where the consideration for the execution of the project or such work is payable in foreign currency..'5. clause 48 of the memo explaining the provisions in the finance bill, 1982, reads as under :(134 i.t.r. (statutes section) 140) : '48. deduction is respect of profits and gains from projects outside india, it is ..... 80hhb were perhaps, not entitled for any relief before the introduction of section 80hhb. the provision also in respect of their foreign earnings, when the bill finally became an act. however, sub-section (5) was added to it. there is no indication available as to why sub-section (5) which was not there in the original bill .....

All India State Bank Officers Federation and State Bank of India Offic ...

Court : Mumbai

Reported in : (2006)206CTR(Bom)562; [2007]288ITR614(Bom)

..... on his behalf that this reimbursement of the travelling expenses was not a perquisite within the meaning of the concept under paragraph 1(1) of schedule 2 to the finance act, 1956. this paragraph provided as follows:tax under case i, ii or iii shall, except as hereinafter mentioned, be chargeable on the full amount of the emoluments ..... the purposes of charge of income tax and computation of total income shall be classified under the following heads of income:(a) salaries (b) interest on securities (omitted by finance act, 1988 w.e.f. 1-4-1989)(c) income from house property (d) profits and gains of business or profession (e) capital gains (f) income from other ..... of the employees' provident funds and miscellaneous provisions act, 1952 (19 of 1952), to effect an assurance on the life of the assessee or to effect a contract for an annuity; and(vi) the value of any other fringe benefit or amenity excluding the fringe benefits chargeable to tax under chapter xii-h as may be prescribed. provided .....

Western Coalfields Ltd. Through the Chief General Manager Vs. the Stat ...

Court : Mumbai

Reported in : 2009(4)BomCR414; 2009(111)BomLR502

..... india to the petitioner and the union of india continues to be the absolute owner of the property in question in spite of a deed dated 24-6-1978 signed between the respondent no. 5 and the petitioner. the said deed was not registered and hence that title did not pass to the petitioner for want of ..... . (supra) relied upon before this court are important. it was noticed that state government found title in petitioner hindustan aeronautics because of indenture dated 22/6/1978. the said document was unregistered and state treated that document as in the nature of 'sale'. it was found that second part of section 54 of transfer of ..... of international airport's authority act, 1971 i.e. 1971 act. provisions of section 12 along with its subsection (3) are reproduced in paragraph 11 & 12 of this report and then in paragraph 13 provisions of chapter iv which sets out functions of the authority are discussed. in report paragraph 14 chapter v dealing with finance, accounts and audit are mentioned .....

Rhythm Exports (P) Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)97TTJ(Mum.)493

..... , is required to disallow expenditure incurred in relation to earning of dividend income which is exempt under section 10(33) of the it act, 1961.7. section 14a was inserted by the finance act, 2001, with retrospective effect from 1st april, 1962. the tribunal, kolkata bench, had occasion to explain the phrase "in relation to" in ..... be upheld.6. having heard both the sides carefully, i have gone through the orders of authorities below. but section 14a of it act provides that for the purpose of computing total income under chapter-iv (i.e., section 14-59), no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income ..... which does not form part of total income under the it act. admittedly, dividend is exempt under section 10(33) of the it act, 1961. in view of this ao .....

Commissioner of Income-tax Vs. Marsons Beneficiary Trust,

Court : Mumbai

Reported in : (1990)87CTR(Bom)71; [1991]188ITR224(Bom)

..... section 161(1a) was inserted in the income-tax act, 1961. this amendment has been inserted by the finance act, 1984, with effect, from april .1, 1985. we are, therefore, concerned with the relevant provisions of the income-tax act prior to that date.3. chapter xv of the income-tax act, 1961, deals with tax liability in certain special ..... cases. this includes, inter alia, the liability of representative assessees. the relevant portions of the sections in chapter ..... observed that even though the income to be assessed is the income of a trustee, it must be assessed under one of the heads mentioned in chapter iii of the act and the provisions laid down with regard to the computation of that, income must be carried out. section 41 will come into play after the .....

Ross Murarka (India) P. Ltd. Vs. Appropriate Authority, S.K. Laul, Mem ...

Court : Mumbai

Reported in : [2009]315ITR41(Bom)

..... on april 17, 1985. the owner on april 24, 1985, made an application under chapter xx-a of the act in form no. 37ee for transfer of the flat in favour of respondent no. 3. the appropriate authority did not choose to take any steps under the said ..... either the petitioners would buy the said flat or it would be bought by one of its associate companies.5. ultimately, one of the petitioner's associate companies ross murarka finance ltd., respondent no. 3 (whose name is deleted from the array of respondent no. 3 today) paid the balance amount of rs. 40,00,000 to the owner ..... a.v. nirgude, j.1. this writ petition challenges the order dated february 26, 1993, passed by the appropriate authority under section 269ud(1) of the income-tax act, 1961 ('the act' for short).2. before the arguments could begin, learned counsel for the petitioners mr. pardiwalla stated that the petitioners would not proceed against respondent no. 3 and accepting this .....

Director of Income-tax (Exemptions) Vs. Khar Gymkhana

Court : Mumbai

..... year and cancellation of registration would not be mandatory unless such cancellation becomes necessary on the ground(s) prescribed under the act. (5) with the introduction of chapter xii-eb in the act vide finance act, 2016, prescribing special provisions relating to tax on accreted income of certain trusts and institutions, cancellation of registration granted u/s ..... from commercial activities have exceeded rs.25 lakhs. learned counsel further submits that the aforesaid circular would have application only prospectively as it was issued consequent to finance act, 2016 which changed the cut-off from rs.25,00,000/- to 20% of the total receipts in respect of its commercial activities. it is ..... the nature of trade, commerce or business etc. for financial consideration. the 2nd proviso to said section, introduced w.e.f. 01-04-2009 vide finance act 2010, provides that in case where the activities of any trust or institution is of the nature of advancement of any other object of general public .....

Rhythm Exports (P) Ltd. Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2005)2SOT429(Mum.)

..... officer is required to disallow expenditure incurred in relation to earning of dividend income which is exempt under section 10(33) of the income tax act, 1961.section 14a was inserted by the finance act, 2001, with retrospective effect from 1-4-1962. the itat, kolkata bench, had occasion to explain the phrase "in relation to" in ..... be upheld.having heard both the sides carefully i have gone through the orders of authorities below. but section 14a of income tax act provides that for the purpose of computing total income under chapter-iv (i.e., sections 1459) no deduction shall be allowed in respect of expenditure incurred by the assessee in relation to income ..... which does not form part of total income under the income tax act. admittedly, dividend is exempt under section 10(33) of the income tax act, 1961. in view of .....

Appellate Authority and Chairman, Shikshan Prasarak Mandali Vs. State ...

Court : Mumbai

..... cassettes or in any other electronic mode or through printouts where such information is stored in a computer or in any other device;" 10. if chapter ii which provides for right to information and obligations of public authority as contained in sections 3 to 11 is taken into account, then, it ..... in section 2(a) as under:- "2(a) "appropriate government" means in relation to a public authority which is established, constituted, owned, controlled or substantially financed by funds provided directly or indirectly - (i) by the central government or the union territory administration, the central government; (ii) by the state government, the ..... the latter part of it includes bodies owned, controlled or substantially financed by the government. now, when non governmental organisations, substantially financed directly or indirectly by funds provided by appropriate government are brought within the ambit and purview of the rti act, then, all the more a conclusion is inescapable that the petitioner .....