Court : Supreme Court of India
Reported in : AIR1987SC566; (1986)55CTR(SC)183; [1986]161ITR749(SC); 1986(2)SCALE160; (1986)3SCC689; [1986]3SCR478
..... income of the company.it is not disputed between the parties that the assessee is a company to which the provisions of section 80e and subsequently of section 80i will apply. section 80i, it may be noted, was deleted by the finance act, 1972 with effect from april 1, 1973. with effect from april 1, 1968 the expression 'priority industry' was defined ..... in section 80b(7) as meaning:the business of generation or distribution of electricity or any other form of power or of construction, manufacture or production of any one ..... 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. with effect from april 1, 1964 the fifth schedule set forth a list of articles and things and items 7, .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1994]205ITR244(SC); 1995Supp(4)SCC247
..... us to state the several facts of the case except to mention that the question before the high court was whether the explanation to sub-section (1) of section 271, added by the finance act, 1964, with effect from april 1, 1964, makes any difference to the position of law obtaining till then, as explained in this ..... ....(c) has concealed the particulars of his income or deliberately furnished inaccurate particulars of such income. . . .5. section 271(1)(c) of the income-tax act, 1961, as originally enacted, was to the same effect. by the finance act, 1964, however, the word 'deliberately' occurring in clause (c) was omitted and the explanation aforementioned was added. the ..... ]76itr696(sc) (sc) continue to be good law even after the aforesaid amendment effected by the finance act, 1964.6. the following principles were enunciated in anwar all's case : [1970]76itr696(sc) (sc) :(a) the proceedings under section 28 are penal in character.(b) it is for the department to establish that the receipt of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [1973]3SCR662a
..... the income tax and excess profit tax (amendment) act, 1947 (act 22 of 1947) which inserted section 12b in the act. it taxed capital gains arising after march 31, 1946. the tax on capital gains was virtually abolished by the indian finance act, 1949 which confined the operation of that section to capital gains arising before april 1, 1948. ..... capital gains tax was, however, revived with effect from april 1, 1957 by the finance (no. 3) act of 1956. sub-section(1) of section 12b along with its first proviso was as under ..... of capital assets. it is urged that the omission of such distribution of capital assets in the first proviso to sub-section (1) of section 12b, as revised by the finance (no. 3) act of 1956, would show that the legislature wanted the distribution of capital assets on dissolution of a firm or other association of .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2006SC444; (2005)199CTR(SC)212; 2005(103)ECC81; [2005]279ITR118(SC); JT2005(10)SC297; 2005(4)KLT770(SC); (2005)13SCC37; [2006]144STC322(SC)
..... has been mentioned above, the challenge is ostensibly to the letter issued by the ministry of finance. but the real challenge is to the amendment in the finance act. that letter is only clarifying what section 67 of the finance act, 1994, as amended by act 14 of 2001, provides. 6. section 65(47) defines photography as including still photography, motion picture photography, laser photography, aerial photography and ..... fluorescent photography. section 65(48) defines photography studio or agency as including any professional photographer or a commercial .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2010SC676; [2010]154CompCas48(SC); JT2010(1)SC499; 2010(1)SCALE535; (2010)2SCC706; [2010]98SCL65(SC); 2010(2)LC645(SC)
..... to invest in such shares, it must be held that the exchange had failed to comply with the provisions of clause (a) of sub-section (1) of section 4 of the 1956 act, which makes it mandatory that the rules and byelaws of a stock exchange have to be in conformity with such conditions as may be prescribed ..... of the bse were subordinate legislation and that the same were statutory in nature having the force of enactment within the meaning of sub-section (4) of section 2 of the arbitration and conciliation act, 1996. mr. diwan drew our attention to paragraph 42 of the judgment in which reference was made to another decision of the ..... and forged share certificates of m/s. presto finance ltd., the stock exchange, ahmedabad, had constituted a special committee, as indicated hereinabove, and had found the managing director and other directors of the company to be guilty of irregularities. accordingly, in a proceeding under section 11b of the sebi act, 1992, sebi had taken stringent measures against the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1984SC541; 1984LabIC301; (1984)ILLJ314SC; 1983(2)SCALE1060; (1984)2SCC141; [1984]2SCR200; 1984(1)SLJ474(SC); 1984(16)LC44(SC)
..... a department of the government of india having an office in the secretariat even though it was a society registered under the societies registration act. it was wholly financed by the government of india. its budget was voted upon as part of the expenses incurred in the ministry of agriculture. even when ..... appellant as having obtained the prescribed qualifying marks for the purpose of viva voce examination which was held on april 10th and 11th, 1978. after the viva voce test, 13 candidates were declared as successful and were offered appointment as scientists in the discipline 'agricultural statistics'. the appellant ..... competitive examination. appellant applied for admission to the competitive examination in 'agricultural statistics' discipline. the written test was held from 1st to 4th february, 1978. the board incharge of the selection and appointment on the comparative merits as evidenced by the performance in the written examination selected 20 candidates including the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2008)220CTR(SC)217; [2008]307ITR393(SC); 2008(13)SCALE742
..... case (supra) did not deal with investment allowance under section 32a of the act. it in fact related to 'development rebate' under section 33. it is to be noted that section 43a in the present form was substituted by the finance act, 2002 w.e.f. 1.4.2003. prior to its substitution section 43a as inserted by the finance act, 1967 w.e.f. 1.4.67 and ..... contained sub-section (2). the said sub-section as it stood at the relevant point of ..... amended by direct tax laws (amendment) act, 1987 w.e.f. 1.4.1989 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2009(237)ELT7(SC); JT2009(4)SC11; 2009(3)SCALE818; 2009(3)LC1119(SC); (2009)11VatReporter146; (2009)21VST490(SC)
..... the balance admitted tax of rs. 1,02,45,572/- by 15.7.2005, otherwise the proceedings for imposition of penalty will be initiated against you under section 16(9) of bihar finance act, 1981 as adopted by jharkhand.11. boc in its letter dated dated 15.7.2005, addressed to the deputy commissioner, commercial taxes, jamshedpur circule, jamshedpur, ..... balance admitted tax of rs. 1,02,45,572/- by 20.5.2005, otherwise the proceedings for imposition of penalty will be initiated against you under section 16(9) of bihar finance act, 1981 as adopted by jharkhandanother notice dated 29.6.2005 was also issued, stating:in spite of informing you by this office's letter no. 188 ..... 9.1983, it was provided:s.o. 1096 the 9th september, 1983- in exercise of the powers conferred by sub-section (1) of section 13 of the bihar finance act, 1981 part 1 (bihar act no. 5, 1981) and in supersession of finance (commercial taxes) department notification no. s.o. 604, dated the 12th april, 1982, the governor of bihar is .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1975SC946; [1975(30)FLR133]; [1975]99ITR592(SC); 1975LabIC602; (1975)IILLJ12SC; (1975)3SCC862; [1975]3SCR542; 1975(7)LC231(SC)
..... than development rebate or development allowance) or credit or relief or deduction (not hereinbefore mentioned in this section) in the payment of any direct tax allowed under any law for the time being in force relating to direct taxes or under the relevant annual finance act, for the development of any industry.7. the rates of income-tax applicable to private ltd. companies ..... other companies in the levy of income-tax provided in the finance act, 1966 is to be construed a 'rebate' or 'relief' in the payment of any direct tax, for the development of an industry for the purposes of section 7(e) of the payment of bonus act, 1965, (for short, the bonus act) is the short question that falls to be answered in this .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC501; (1989)1CompLJ43(SC); (1988)75CTR(SC)20; [1989]175ITR523(SC); JT1988(4)SC666; 1988(2)SCALE1556; 1989Supp(2)SCC7; [1988]Supp3SCR1058
..... and the relief was enlarged to 60 per cent. finance act 2 of 1971 made an amendment in section 80-o changing the payer from 'foreign company' to 'government of a foreign state or a foreign enterprise' and enlarging the relief to 100 ..... contentions of the learned counsel for both parties relating to the interpretation of the expression 'foreign enterprise' occurring in section 80-o, we may refer to the legislative background. under section 85-c of the act, which was introduced by the finance act, 1966 and which came into force with effect from april 1, 1961, indian companies could obtain concession to ..... foreign exchange was received from a company which was neither an indian company nor a domestic company. section 80-o was inserted in the act by the finance act 2 of 1967 and it came into force with effect from april 1, 1968. section 80-o, as it stood on that day, provided that the payer should be a foreign company .....
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