Court : Supreme Court of India
..... the date on which interest is first due after the date of purchase.5. under the income tax act, 1961 (for short, the it act ), section 18, which was repealed by the finance act, 1988, dealt with tax leviable on the interest on securities. section 19 provided for the deduction of (i) expenses in realising the interest and (ii) the interest payable ..... case of a banking civil appeal no.3291 3294 of 2009, etc. page 3 of 45 company. section 21 provided that the interest payable outside india was not admissible for deduction. sections 18 to 21 were repealed by the finance act, 1988, effective from 1st april 1989. we are dealing with cases involving the period post the deletion ..... i.e. income from the business including the income from the securities.5. the relevant section of the act which deals with the matter of set off of losses in computing the aggregate income is section 24. the relevant part of it, before the finance act, 1955, read: (1) where any assessee sustains a loss of profits or gains .....
Tag this Judgment!Court : Supreme Court of India
..... had notice of the pending 8 litigation. at the outset, it appears pertinent to reiterate the settled position that the doctrine of lis pendens as provided under section 52 of the act does not render all transfers pendente lite to be void ab initio, it merely renders rights arising from such transfers as subservient to the rights of the ..... the underlying suit does not automatically render it null and void. on this ground alone, we find the impugned order to be wholly erroneous as it employs section 52 of the act to nullify rsd and on that basis, concludes that the impleadment application is untenable. contrary to this approach of the high court, the law on impleadment ..... a decree holder qua a third party to the suit and the right of a third party after being dispossessed has been laid down by this court in sriram housing finance & investment (india) ltd. v. omesh mishra memorial charitable trust, (2022) 15 scc176:2022. scc online sc794 wherein it was held as follows: 24. on conjoint reading .....
Tag this Judgment!Court : Supreme Court of India
..... claim after the revised return was barred by time. this court considered the appellate power of the appellate tribunal under section 254 of the it act. paragraphs 10 and 11 of the said decision in the case of wipro finance ltd1 read thus:- 10. the learned asg appearing for the department had faintly argued that since the appellant in ..... return of income are mandatory in nature.8. coming to the decision of the tribunal, we find that the tribunal has not exercised its power under section 254 of the it act to consider the claim. instead, the tribunal directed the assessing officer to consider the appellant's claim. the assessing officer had no jurisdiction to consider the ..... by the officials of the appellant. yet, the itat entertained the claim as permissible, even though for the first time before the itat, in appeal under section 254 of the 1961 act, by relying on the dictum of this court in national thermal power co. ltd. further, the itat has also expressly recorded the no objection given .....
Tag this Judgment!Court : Supreme Court of India
..... period, then the time limit for completion or compliance of such action was extended to 30 june 2021. iii. finance act 2021 10. the finance act 2021 substituted the entire scheme of reassessment under sections 147 to 151 of the income tax act with effect from 1 april 2021. page 41 of 112 part a substantial changes were brought about by the ..... petitions and quashed all the reassessment notices issued between 1 april 2021 and 30 june 2021 under the old regime on the ground that: (i) sections 147 to 151 stood substituted by finance act 2021 from 1 april 2021;26 (ii) in the absence of any saving clause, the revenue could initiate reassessment proceedings after 1 april 2021 only ..... 119 60. the above principles can be applied as follows to the factual situation in the present appeals: (i) the finance act 2021 substituted sections 147 to 151 of the income tax act with effect from 1 april 2021; (ii) sections 147 to 151 of the old law ceased to operate from 1 april 2021; (iii) after 1 april 2021, any .....
Tag this Judgment!Court : Supreme Court of India
..... object is that a registered person does not take advantage of both depreciation and itc.29. now we come to sub-section (4) of section 16. before the amendment made by the finance act, 2022, the sub-section read thus: 16. .. .. .. .. .. .. .. .. .. (4) a registered person shall not be entitled to take input tax credit in respect ..... which have been uploaded by the supplier under sub-section (1) of section 37 till the due date for furnishing the details under sub-section (1) of said section for the month of march, 2019. the finance act, 2022, substituted the words due date of furnishing return under section 39 for the month of september with thirtieth day of ..... are based upon the interpretation of the phrase machinery or plant under section 41 of the finance act, 1971 which was applicable and there appears no such distinction for grant of allowance on different heads as provided under section 32 of the income tax act. (7) to differentiate a building for grant of additional depreciation by .....
Tag this Judgment!Court : Supreme Court of India
..... . .. for the above reasons, we accept the contentions of the learned counsel for the appellant, and hold that section 5 of the second amendment act (act 11 of 1966), introducing section 13-a in the act, is discriminatory and violative of article 14 of the constitution and, as such, has to be struck down as unconstitutional ..... laws, life sciences and other courses under the general heads of the arts and humanities, social sciences etc.2. as the establishment of such private self financed universities requires a broadly uniform set of 11 guidelines for ensuring academic standards, prevention of commercialization and mismanagement etc., it deemed, therefore, expedient to provide for ..... charitable society, amritsar,2 (appellant no.2 herein), which was in existence since 1892, submitted a proposal to the state government for setting up a self-financing university in the state of punjab on the basis of the 2010 policy. 3.3. on 5th march 2011, the higher education department, government of punjab .....
Tag this Judgment!Court : Supreme Court of India
..... act, 1871. 141 section 9, criminal tribes act, 1871. 142 section 10, criminal tribes act, 1871. 143 section 12, criminal tribes act, 1871. 144 sections 13, 14, criminal tribes act, 1871. 145 section 17, criminal tribes act, 1871. 146 section 18(ii), criminal tribes act, 1871. 147 section 18 (viii), criminal tribes act, 1871. 148 section 18 (iv), criminal tribes act, 1871. 149 section 18(v), criminal tribes act, 1871. 150 section 18(v), criminal tribes act, 1871. 151 section ..... this has been the objective. however, there is no nexus between classifying prisoners based 244 charles sobraj v. supdt., central jail, 1978 insc149245 rk kapoor committee, pp. 157-160. 111 part xiv on caste and securing the objectives of security or reform. limitations ..... more dangerous are these expedients when imposed by the unturned and untrained power of a jail superior who has, as 93 (1978) 4 scc49440 part viii part of his professional equipment, no course in human psychology, stressology or physiology, who has to .....
Tag this Judgment!Court : Karnataka - Dharwad
..... member from bihar stated that while proposal could be considered, however, it should be decided that such an extension in timelines for these financial years under sub-section (10) of section 73 of cgst act is being made for the last time. 4.6. on the basis of all the above submissions, he submits that the extension of time of three ..... no.9/2023 has been issued on the 31.03.2023 on the basis of the recommendation made by the gst council, which has been accepted by the ministry of finance, government of india. 5.2. the government of india having accepted the said recommendation, it cannot be contended by the petitioner that the gst council recommendation is not ..... . petitioner (by dr. podar., sri. raghavendra c. r., sri. bhanu murthy j s & sri. veershetty b k .,advocate) and:1. union of india through, the secretary ministry of finance (department of revenue), no.137, north block, new delhi-110001.2. central board of indirect taxes through its chairman, department of revenue, ministry of .....
Tag this Judgment!Court : Karnataka
..... years back is now being considered as a quasi-judicial power.33. to the same effect is the decision of this court in mohinder singh gill v. chief election commr. [(1978) 1 scc405 where krishna iyer, j.speaking for the court observed: (scc p. 434, para48) 48. once we understand the soul of the rule as fair play in ..... article 19 if it is irremediable and unappealable, and unfair, under article 21 if it violates natural justice. the string of guidelines in batra [sunil batra v. delhi admn., (1978) 4 scc494:1979. scc (cri) 155]. set out in the first judgment, which we adopt, provides for a hearing at some stages, a review by a superior, and early ..... case [1950 scc551: air1950sc222 the court was examining whether the act in question was a ministerial/administrative act or a judicial/quasi-judicial one in the context of whether a writ - 18 - nc:2024. khc:41152 wp no.23848 of 2024 of certiorari could be issued against an order under section 3 of the bombay land requisition ordinance, 1947. the court .....
Tag this Judgment!Court : Supreme Court of India
..... society and he was directed to take action under section 105 of the 1960 act and the rules framed thereunder. the final report was directed to be filed within a year to the directorate of textile industry for acceptance.5 ..... order of dissolution should not be made. thereafter, a final order dated 31st august, 2005 was passed by the additional registrar in terms of section 102 of the 1960 act read with certain government notifications referred to therein directing winding up of the society. the district collector, ahmednagar was appointed as the liquidator of the ..... in liquidating the debt having occurred, the appellant lodged a dispute case7 on 7th march, 2001 before the registrar of cooperative societies, maharashtra under section 91 of the maharashtra cooperative societies act, 19608 for recovery of 1,05,98,710/-. the dispute case stood allowed and vide an award dated 24th june, 2011, the appellant .....
Tag this Judgment!