Judgment Search Results Home > Cases Phrase: finance act 2007 section 12 amendment of section 35 Sorted by: recent Court: privy council Page 15 of about 1,485 results (0.050 seconds)

Sir Byramji Jeejeebhoy Vs. the Province of Bombay (No. 2)

Court : Mumbai

Reported in : AIR1942Bom312; (1942)44BOMLR687

..... the bombay finance act 1932 is illegal and void, for a declaration that the demand made for payment of the tax is illegal and invalid, for ..... for a declaration that part vi of the bombay finance act, 1932, incorporated therein by the bombay finance (amendment) act, 1989, is ultra vires of the bombay provincial legislature and is invalid, inoperative and void, for a declaration that the urban immoveable property tax purporting to be levied by section 22 forming part of the said part vi of ..... allowed on a question of law only.8. applying the principle established by the cases i have to determine whether the case was such that the 1st defendants acting with ordinary prudence would not have ventured to come into court without three counsel. there was no dispute as to the facts, and the brief consisted of .....

Sir Byramji Jeejeebhoy Vs. the Province of Bombay (No. 1)

Court : Mumbai

Reported in : AIR1942Bom310; (1942)44BOMLR682

..... suit a declaration that part vi of the bombay finance act of 1932, incorporated therein by the bombay finance (amendment) act, 1939, is ultra vires of the bombay provincial legislature, and a declaration that the urban immoveable property tax purporting to be levied by section 22 which forms part of the said part vi of the bombay finance act, 1932, is illegal and invalid. he also sought ..... further declarations that certain notices served on him by the bombay municipality under section 202 of the city of bombay municipal act under powers purporting to be conferred by the impugned act were invalid so far as they related to the urban immoveable property .....

Commissioner of Income-tax Vs. Sir Homi M. MehtA.

Court : Mumbai

Reported in : [1943]11ITR142(Bom)

..... of rs. 3,28,645 paid by the assessee on behalf of the british india general insurance company is expenditure allowable under section 10(2)(ix) or under the provisions of section 7 or section 12 of the act.'it appears from the case that the insurance company in question, which is in fact a limited company, though it is ..... is clearly inapplicable, and the argument advanced on behalf of the assessee is, therefore, limited to sections 10(2)(ix) and 12 of the act. the relevant sections to be considered are before the amending act of 1939.as the payment was not made of the purpose of saving the business of the assessee, but was made to save the ..... the act, which deals with deductions allowable from income derived from business, but would have to be brought within the provisions of section 12, which deals with tax on other sources of income. it is said, however, that the case may be brought within section 10, because part of the business of the assessee consists in the promotion and financing of .....

James Finlay and Co. Ltd. Vs. Finlay Mills, Ltd.

Court : Mumbai

Reported in : (1945)47BOMLR774

..... excess and shall, in respect of any chargeable accounting period beginning after that date, be equal to such percentage of that excess as may be fixed by the annual finance act.it is, therefore, clear that the tax is imposed in respect of any business upon certain profits of the business, and i find it very difficult to see why ..... of excess profits tax.5. the tax is chargeable in india under the excess profits tax act of 1940, and the charging section is section 4, which provides:subject to the provisions of this act, there shall, in respect of any business to which this act applies, be charged, levied and paid on the amount by which the profits during any chargeable ..... the tax itself is undoubtedly a tax on the profits of the business, and is collected under the provisions of the later sections of the act by reference to powers contained in the income-tax act for the collection of income-tax. if default in payment is made, the assessee is liable, and not merely the assets of the business. .....

Regal (Hastings) Limited Vs. Gulliver

Court : House of Lords

..... it is impossible to maintain that because it would have been a breach of trust to advance more than 2,000 from regal and that the only way to finance the matter was for the directors to advance the balance themselves, a situation arose which brought the respondents outside the general rule and permitted them to retain the ..... profits which accrued to them from the action they took. at all material times they were directors and in a fiduciary position, and they used and acted upon their exclusive knowledge acquired as such directors. they framed resolutions by which they made a profit for themselves. they sought no authority from the company to do so ..... profit, that they had obtained that profit by using their offices as directors and solicitor and were, therefore, accountable for it to regal, and also that in so acting they had placed themselves in a position in which their private interests were likely to be in conflict with their duty to regal. the facts were of a complicated .....

Kunwar Bishwanth Singh Vs. Commissioner of Income-tax, C. P. and U. P.

Court : Allahabad

Reported in : [1942]10ITR322(All)

..... the first question in the affirmative.the second question is :-'whether the income form nazrana and from zar-i-chaharaum was agricultural income within the meaning of section 2 (1) of the act? 'learned counsel for the assessee had to condede, and indeed it is not open to argument, that the income derived from zar-i-chaharum was not ..... in assessment order could be considered for any purpose whatsoever and that the income of the assessee did not escape assessment within the meaning of that expression in section 34 of the act. we are, therefore, of the opinion that the notice dated 23rd of february 1938 issued to kunwar bishwanath singh was valid in law and we answer ..... of the indian-tax act the general government may, by notification in the gazette of india, make an exemption, reduction in rate or other modification, in respect of income-tax in favour of any class of income, or inregard to the whole or any part of the income of any class of persons, and the finance department notification no. .....

Guardian Trust and Executors Co. of New Zealand Ltd. Vs. Public Truste ...

Court : Privy Council

..... out. "(5) we should be pleased if you would instruct the estate solicitors to prepare the necessary petition for execution by the board as soon as possible." the section of the trustee act, 1908, to which the letter refers is in these terms : (1) "where an executor or an administrator has given such notices as a judge, upon ..... have paid the legacies in disregard of the information contained in the letter had they not misunderstood the meaning and effect of s. 74, trustee act, 1908. as it is, the section and their proceedings under it can avail them nothing and they have no effective answer to the claim of the respondent. the action was nevertheless dismissed ..... proceedings being completed. she is now quite resigned to allowing us to handle everything and i only hope that we will be able to do something towards restoring her finances." subsequent events showed that this hope was abundantly justified, but mr. harris was sadly mistaken in thinking that he and the appellants had come to the end .....

Latilla Vs. Commissioners of Inland Revenue.

Court : Kolkata

Reported in : [1942]10ITR75(Cal)

..... by repayment of debentures was a favourite one, and it was effective for its purpose. these ingenious schemes the legislature set out to defeat in the finance act, 1936 section 18, and the question which arises in the present appeal is whether or not the transaction now under consideration falls outside its scope.as we have ..... .the questions raised by this appeal are short and the answers to them do not, in our judgment, admit of doubt. they arise in the finance act, 1936, section 18 : 'for the purpose of preventing the avoiding by individuals ordinarily resident in the united kingdom of liability to income-tax by means of transfers ..... the purpose of avoiding liability to taxation.'finance act, 1938, section 28 (2) : ' the proviso to sub-section 1 [of section 18 of the finance act, 1936] shall cease to have effect and the following two sub-sections shall be inserted immediately after the said sub-section... (1b) : the last two foregoing sub-sections shall not apply if the individual shows .....

Light of Asia Insurance Co., Ltd. and Governor-general in Council and ...

Court : Kolkata

Reported in : AIR1942Cal578

..... 15 of the letters patent is not attracted to orders under section 9 and section 61, insurance act, and as the insurance act does not provide for any appeal against orders under section 9 and section 61 of the act no appeal lies against orders under those sections. orders under section 9 and section 61, insurance act, are made by 'the court' which includes the high ..... claims in respect of the policies issued by it is to be ascertained by court having regard to the rule contained in schedule 6, insurance act (section 55, clause (2), insurance act). it is an admitted fact in this case that no attempt was made to ascertain the value of the policies with reference to the said ..... not more than 20 per cent. of the future premium collection of this section should be spent in expenses. this will mean that the position of the existing policy-holders will not deteriorate. (2) the new business should be financed entirely out of the new premium income. i would suggest that the premiums should be recast .....

Port Royal Pulp and Paper Co., Ltd. Vs. Royal Bank of Canada

Court : Privy Council

Reported in : AIR1941PC134

..... in evidence, but its working out resulted in a substantial sum being due from new lepreau ltd., to the company in respect of moneys advanced by the company to finance the operations by new lepreau ltd., necessary under the contract. the amount of this sum was subsequently ascertained to be $5,330.91. this contract will be ..... it thus : if the appeal court is right in its conclusion that the bank's securities under s. 88, bank act, were invalid because atkinson was not the owner of the pulpwood within the meaning of that section, and the case is one which rests entirely, so far as the bank is concerned, upon the assignments to it.... ..... atkinson had any interest proprietary or possessory in the pulpwood which is alleged to have been converted by the company. whoever was the owner within the meaning of the act, atkinson certainly was not. in these circumstances the bank's alleged security on pulpwood was invalid, and the claim to damages for conversion necessarily fails. another answer .....