Court : Supreme Court of India
Reported in : AIR1981SC1263; (1981)22CTR(SC)118; [1981]129ITR404(SC); 1981(1)SCALE786; (1981)3SCC181; [1981]3SCR576; 1981(13)LC513(SC)
..... in the united kingdom as it existed in 1965 in so far as transfer of real and leasehold property in payment of estate duty is concerned is summarized in dymond's death duties (14th edition) at pages 720-721 thus :d-transfer of property in payment of duty : -(1) real and leasehold property : -by section 56(1) of the finance (1909-10) act, 1910, as extended and amended by section 49 of the finance act, 1946 (which applies to deaths at any time) and the finance act, 1946 (which applies to deaths at any time) and the finance act, 1949, sched. xi, pt. ..... section 56(1) of british finance (1909-10) act, 1910 which was again amended by the british finance act of 1949 read thus :56(1) the commissioners may, if they think fit, on the application of any person liable to pay estate duty or settlement estate duty accept in satisfaction of the whole or any part of such ..... the disposition of any property accepted by the commissioners is provided for by sections 50 and 51 of the finance act, 1946, under which the treasury may direct that the land be transferred direct to a body ..... united kingdom appears to be more or less the same even after the former estate duty was replaced by the new tax known as capital transfer tax by the british finance act 1975 (vide section 22 of the finance act 1975). ..... the commissioners of inland revenue could accept any property under section 56 of the finance (1909-10) act 1910 in satisfaction or part satisfaction of any estate duty and amended the latter act accordingly. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1970SC292; [1969]74ITR836(SC); (1969)2SCC324; [1970]1SCR601
..... section 132 as originally enacted by act 43 of 1961 was substituted by a modified provision by the finance act of 1964 which in its turn was replaced by section 1 of the income-tax (amendment) act, 1965 ..... have been made in pursuance of sub-section (1) of section 132 of the principal act shall be deemed to have been made in accordance with the provisions of that sub-section as amended by the act of 1965 as if those provisions were in, force ..... section 132 as substituted by the income-tax (amendment) act, 1965 ..... or the commissioner, in consequence of information in his possession, has reason to believe that-(a) any person to whom a summons under sub-section (1) of section 37 of the indian income-tax act, 1922 (xi of 1922), or under sub-section (1) of section 131 of this act, or a notice under sub-section (4) of section 22 of the indian income-tax act, 1922, or under sub-section (1) of section 142 of this act was issued to produce, or cause to be produced, any books of account or other documents has omitted or failed to produce, or ..... bullion, jewellery or other valuable article or thing represents either wholly or partly income or property which has not been disclosed for the purposes of the indian income-tax act, 1922 (xi of 1922), or this act (hereinafter in this section referred to as the undisclosed income or property),he may authorise any deputy director of inspection, inspecting assistant commissioner, assistant director of inspection or income-tax officer (hereinafter referred .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2008)218CTR(SC)433; [2008]305ITR1(SC); JT2008(10)SC17; 2008(11)SCALE540; (2008)9SCC434; 2008AIRSCW6285; 2008(6)Supreme520; 2008(11)SCALE540
..... in this connection, learned counsel urged that vide finance act, 2002, parliament has bodily lifted the definition of the 'local authority' under section 3(31) of the general clauses act, 1897 ('1897 act', for short) and has incorporated the said definition vide explanation inserted in section 10(20) and consequently amc(s) is a 'local authority' and continues to be a local authority even after the said amendment to section 10(20) of the 1961 act. ..... jain (supra) in the context of section 3(31) of the 1897 act as the word 'local authority' was not defined in the payment of bonus act, 1965. ..... under section 32(iv) of the payment of bonus act, 1965 it is stated that nothing in the said 1965 act shall apply to employees employed by an establishment engaged in any industry carried on by or under the authority of any department of the central government or state government or a local authority. ..... jain (supra) was required to consider the question as to whether 'delhi development authority' is a 'local authority' as its employees stood outside the purview of payment of bonus act, 1965. ..... there was no definition of 'local authority' in the said 1965 act. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1993)110CTR(SC)221; [1993]200ITR614(SC); JT1993(2)SC321; (1993)2MLJ57(SC); 1993(1)SCALE270; 1993Supp(4)SCC500
..... as stated hereinbefore, by section 24 of the finance act, 1969, agricultural land was included within the meaning of the expression 'assets' as defined in the wealth tax act the validity of the amending act was challenged before the high court of punjab and haryana on the ground that the parliament was not competent to levy wealth tax upon agricultural land inasmuch as entry 86 expressly excludes agricultural land from ..... shankar, on the other hand, submitted that the question as to which entry covered the wealth tax act as originally enacted did not arise for decision in the case at all and that the controversy in dhillon was confined to the validity of section 24 of the finance act, 1969 in so far as it amended the provisions of the wealth tax act. ..... mentioned earlier, the challenge in dhillon's case was limited to section 24 of the finance act, 1969 insofar it amended the relevant provisions of the wealth tax act, 1957. ..... referred with approval to the decisions of high court of kerala : [1962]44itr277(ker) , orissa : [1965]56itr298(orissa) and karnataka : [1963]48itr472(kar) holding that the power to levy tax on lands and buildings under entry 49 list ii does not trench upon the power conferred upon the parliament by entry 86, ..... wealth tax officer : [1965]56itr224(sc) the contention raised was that under entry 86 of list i of the seventh schedule, the parliament was competent to levy tax only upon the wealth of individuals but not on the wealth of groups of individuals like h.u.f .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1989)75CTR(SC)194; 1989(40)ELT239(SC); [1989]176ITR98(SC); JT1989(1)SC92; 1989(1)SCALE85; 1989Supp(2)SCC43; [1989]1SCR155; 1989(1)LC383(SC)
..... necessary to notice the words of the proviso:provided that where the transfer of such assets or any part thereof is either chargeable to gift-tax under the gift-tax act 1958 (18 of 1958), or is not chargeable under section 5 of that act, for any assessment year commencing after the 31st day of march 1964 [but before the 1st day of april, 1972], the value of such assets or part thereof, ..... referred to the high court for its opinion: whether, on the facts and in the circumstances of the case, the assessee was entitled to exclude, under the proviso to section 4(1)(a) of wealth tax act, 1957, the value of the assets gifted to his wives in the wealth-tax assessment for the assessment year 1967-68?the high court agreed with the construction placed on the proviso ..... of the exemption of the subject-matter of the gifts for purposes of wealth-tax was controlled and determined by the commencement of the operation of the proviso, which, by notification was specified as 1.4.1965.sri ahuja submitted that the proviso was intended to effectuate the legislative policy that in respect of certain gifts made in favour of a spouse or a minor child, during a specified period, the ..... the following question of law for the opinion of the high court:whether on the facts and in the circumstances of the case and on a proper interpretation of section 4(1)(a) of the wealth-tax act as amended by the wealth-tax (amendment) act, (act 46) of 1964 the sum of rs. ..... was later fixed by the amendment made by finance (no. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1969SC470; [1969]71ITR799(SC); [1969]2SCR193; 1968()WLN23
..... it is true that under sub-section (3) of section 210 as inserted by the finance act, 1963 (13 of 1963), and later modified by the direct taxes (amendment) act, 1964 (31 of 1964), the income-tax officer is entitled to make an order for payment of advance tax on the basis of provisional assessment made under section 141, and he is not obliged to demand advance tax only for the amount provisionally assessed by way of regular assessment in respect of any previous year. ..... the income-tax officer must, however, apply the rate operative in the assessment year by virtue of the finance act and give effect to the allowances mentioned in sub-s. (2) of s. ..... for the assessment year 1965-66 the income-tax officer, relying upon section 210(3) of the act, called upon the company to pay rs. ..... no order for payment of advance tax for the year 1965-66 could then be made, relying upon the provisional assessment for the year 1964-65. 14. ..... the orders of provisional assessment made by the income-tax officer in respect of the years 1963-64 and 1964-65 will be set aside and the order for payment of advance tax for the year 1965-66 is also set aside. ..... for the year 1965-66 the income-tax officer demanded payment of advance tax on the provisional assessment for the year 1964-65. ..... 67 of 1965 in the high court of rajasthan for an order quashing the demand. 5. ..... 26 of 1965 for an order quashing the demand of tax and for an injunction restraining the income-tax officer, from enforcing the demand. 4. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1997SC692; [1997]224ITR558(SC); JT1997(1)SC218; 1996(9)SCALE256; (1997)3SCC481
..... years 1965-66 to 1968-69 were liable to be calculated in accordance with the law as it stood before amendment on 1.4.69 even before the period of default after 31.3.69 and not as per the increased scale of penalty introduced with effect from 1.4.69 by the finance act, 1969?answered accordingly. ..... the question referred was:whether on the facts and in the circumstances of the case the penalty to be levied for the assessment years 1962-63, 1963-64 and 1964-65 should be as per the provision of section 18(1)(a) as they stood before amendment with effect from 1.4.1965 (sic).the high court answered the said question in favour of the assessee following the earlier decision of the said court in commissioner of wealth tax v. r.d. ..... these appeals are directed against the order of the andhra pradesh high court answering the reference made under section 27(1) of the wealth tax act, 1957, at the instance of the revenue, in favour of the assessee and against the revenue. ..... though the said decision has been rendered with reference to the provision of the income tax act, the relevant provisions of the income tax act and the wealth tax act are similar and the question considered therein was also similar to the one arising herein. ..... the question which was referred for the opinion of the high court reads:whether on the facts and circumstances of the case the tribunal was right in holding that the penalties under section 18(1)(a) for asstt. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2005SC186; [2005]126CompCas356(SC); 2004(5)CTC376; JT2004(9)SC379; 2004(9)SCALE215; (2005)1SCC496
..... a perusal of the judgment of the high court shows that in holding the impugned section 73 of the act ultra vires of the constitution and other provisions of the indian stamp act, the high court has arrived at four findings: firstly, that the amended section 73 is inconsistent with the other provisions of the act; secondly, that the provision is violative of the principles of natural justice; thirdly, the provision is arbitrary and unreasonable and hence ..... information-dense technological era, when living inevitably entails leaving not just informational footprints but parts of one's self in myriad directories, files, records and computers, to hold that the fourteenth amendment did not reserve to individuals some power to say when and how and by whom that information and those confidences were to be used, would be to denigrate the central role ..... , national bank for agriculture and rural development established under the national bank for agriculture and rural development act, 1981, the life insurance corporation of india established under the life insurance corporation act, 1956, the industrial finance corporation of india established under the industrial finance corporation act, 1948, and such other financial or banking institution owned, controlled or managed by a state government or the central government, ..... , 1965 in ..... state of connecticut: (1965) 381 us 278 in the absence of a specific provision in the us constitution, the court traced the right to privacy as an emanation from ..... 1965 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1985SC867; 1985(5)ECC252; 1985(20)ELT239(SC); [1985]153ITR322(SC); 1985(1)SCALE672; (1985)2SCC719; [1985]3SCR575
..... again been pressed by the appellant company before us in these appeals but after hearing counsel for the appellant company at some length and after going through the relevant provision of the said scheme, relevant section of the income tax act, 1961 and section 80 of the finance act 1965 we are satisfied that the high court was right in the view which it took on both the contentions and the appeals deserve to be dismissed.2. ..... 23.60 per ton but under section 80 of the finance act 1965 a special duty of excise equal to 25% of the total amount of excise chargeable under the excise act on various articles including cement was levied ..... the special excise duty which was levied under section 80 of the finance act 1965 cannot be regarded as having been levied under the excise act. ..... -clauses (3) & (4) of section 80 of the finance act on which reliance has been placed by counsel for the appellant company in terms refer to the procedural aspect such as the quantification and collection of duty and simply because the quantification and collection of the special duty under the finance act is to be done in accordance with the provisions of the excise act such duty does not become leviable, that is to say, chargeable under the excise act. ..... it is, however, clear that by the trade notice no amendment was effected but merely a clarification of the existing position in law was given and, therefore, the trade notice could not furnish starting point of limitation for the supplementary application.5 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1981)25CTR(SC)406; [1982]133ITR239(SC); (1981)4SCC675; [1981]1SCR947; 1982(14)LC12(SC)
..... thereafter, nearly a decade and a half later, a second scheme of voluntary disclosure was introduced by section 68 of the finance act 1965. ..... section 5 amends the income-tax act 1961 by providing that the definition of 'capital asset' in section 2 clause (14) shall not include that special bearer bonds issued under the act so that any profit arising on sale of the special bearer bonds would not be liable to capital gains tax and it also excludes from the computation of the total income of the assessee, premium on redemption of the special bearer bonds by introducing a new sub-clause in section 10 clause (15) ..... section 7, by amending section 5 sub-section (1) of the gift-tax act 1958 exempts gifts of special bearer bonds from the incidence of gift tax ..... is the main difference between the impugned act and the taxation laws (amendment and miscellaneous provisions) act, 1965. ..... do not therefore think there is any substance in the contention of the petitioner that the president has no power under article 123 to issue an ordinance amending or altering the tax laws and that the ordinance was therefore outside the legislative power of the president under that article. 8. ..... there were two limbs of the argument under this head of challenge; one was that since the ordinance had the effect of amending the tax laws, it was outside the competence of the president under article 123 and the other was that the subject matter of the ordinance was in the nature of a money bill which could be introduced .....
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