Judgment Search Results Home > Cases Phrase: finance no 2 act 1991 section 3 to 72 income tax Court: supreme court of india Page 55 of about 547 results (0.193 seconds)

Madhya Pradesh Housing Board Vs. Mohd. Shafi and ors.

Court : Supreme Court of India

Reported in : JT1992(3)SC523; 1992(1)SCALE322; (1992)2SCC168; [1992]1SCR657; 1992(2)LC73(SC)

..... was also argued that the 'public purpose' mentioned in the schedule to the notification issued under sections 4(1) and 17(1) of the act, as also in the notification issued under section 6(1) of the act, was sufficiently clear and the finding of the high court that the notifications were vague on ..... clarity the 'public purpose' in the notification, observed:it is apparent from sub-section (2) that the public purpose which has to be staled in sub-section (1) of section 4 has to be particularised because unless that is done the various matters which are mentioned in sub-section (2) cannot be carried out; for instance, the officer concerned or his servants and workmen cannot do any act necessary to ascertain whether it is suitable for the purpose for which it is being ..... detailed particulars of the land or the locality where it was situate, could not vitiate the notification, more so when sufficient particulars had been provided in the notification issued under section 6(1) of the act wherein it had also been indicated that the site plan of the land was available in the office of the collector.7. ..... again, in the declaration issued under section 6(1) of the act the 'public purpose' has been stated to be 'housing scheme of housing board' and not 'construction of buildings and shops under the self financing scheme' admittedly, apart from the letter referred to above, there was no other material with the state government and, therefore, it is not understandable on what material, did the state .....

Commissioner of Income-tax, Bombay, Etc. Vs. M/S. Mafatlal Gangabhai a ...

Court : Supreme Court of India

Reported in : 1996IIAD(SC)573; AIR1996SC3003; I(1996)BC588(SC); (1996)132CTR(SC)248; [1996]219ITR644(SC); JT1996(3)SC173; 1996(2)SCALE676; (1996)7SCC569; [1996]3SCR227

..... the language employed in the sub-clause v of clause (a) of section 40 of the income tax act 1961 is not capable of taking within its ambit cash payments made to the employees by the assessee. ..... this appeal is preferred against an order of the delhi high court rejecting an application under section 256(2) of the income tax act filed by the revenue. ..... should not be considered 'perquisites' within the meaning of section 40(a)(v) of the income tax act, 1961 ?9. ..... as a deduction :provided that where the assessee is a company, so much of the aggregate of(a) the expenditure and allowance referred to in sub-clause (i) and (it) of this clause; and(b) the expenditure and allowance referred to in sub-clauses (i) and (ii) of clause (c) of section 40, in respect of an employee or a former employee, being a director or a person who has a substantial interest in the company or a relative of the director or of such person, as is in excess of the sum of one hundred and two thousand rupees, shall in no case be ..... on appeal, the commissioner of income tax (appeals) upheld the assessee's contention that cash payments cannot be treated as 'perquisites' for the purpose of and within the meaning of section 40.a(5). ..... the income tax officer disallowed the same holding that the said payments fall within the mischief of section 40.a(5). ..... sub-clause (v) was inserted in clause (a) of section 40 by the finance act, 1968 with effect from april 1, 1969. ..... sub-clause (v) of section 40(a) was omitted by the finance (no. .....

Jatinder Nath Vs. Chopra Land Developers Pvt. Ltd. and anr.

Court : Supreme Court of India

Reported in : AIR2007SC1401; 2007(1)ARBLR490(SC); 2007(3)AWC2592(SC); JT2007(4)SC300; 2007(4)SCALE70

..... in the circumstances, the trial court held that the proviso to section 16 cpc was not applicable and that the application filed by the developer under section 14 of the act dated 12.4.1994 should have been instituted in the delhi court within the local limits of whose jurisdiction the suit ..... on the faridabad court was ineffective and whether the appellant is right in his contention that the application made by the developer under section 14 of the act was not maintainable in the faridabad court on the ground of lack of territorial jurisdiction.11. mr. ..... the trial court found that after the institution of petition under section 20 of the act on 14.10.1993, the arbitrator, suddenly, after a lapse of almost fourteen months from the date of his entering upon the reference, made an ex parte award against the ..... by impugned judgment dated 24.9.1996, the trial court held that in view of section 31(4) of the act, since the land in question stood located in saket, new delhi and since the appellant herein is the resident of delhi and since the developer was carrying on business in delhi the trial ..... agreement, the developer agreed to finance the construction from its own resources ..... the developer agrees to finance the entire construction cost and in lieu of the developer's services in the matter of construction of housing complex the owner (appellant herein) agrees to permit transfer of the ownership a part of the complex ..... the entire construction cost is financed by the developer. ..... the financer. .....

Cooch-behar Contractors Vs. State of W.B. and ors.

Court : Supreme Court of India

Reported in : 1996VIIAD(SC)154; (1997)1CALLT19(SC); JT1996(8)SC343; 1996(6)SCALE440; (1996)10SCC380; [1996]Supp6SCR57; [1996]103STC477(SC)

..... such works of contract were not brought under the net of sales tax till the bengal finance (sales tax) act, 1941 (hereinafter referred to as 'the act') was amended by the west bengal act 4 of 1984 inserting section 6d and amending section 2(c) of the act. ..... remains after deducting therefrom his contractual transfer price during the period on -(a) contractual transfer of goods referred to in section 14 of the central sales tax act, 1956 (74) of 1956), on a prior sale whereof in west bengal due tax under this act or under the west bengal sales tax act, 1954 (west bengal act iv of 1954), if such goods are notified for taxation under that act, is shown to the satisfaction of the commissioner to have been paid;(b) contractual transfer of goods, sales of which are declared ..... tax-free under section 6;(c) contractual transfer of goods, sales of which are generally exempt from tax under sub-clause (vi) of clause (a) of sub-section (2) of section 5;(d) contractual transfer of goods, on the purchase .....

J. B. Boda and Co. Pvt. Ltd. Vs. Central Board of Direct Taxes.

Court : Supreme Court of India

Reported in : (1997)137CTR(SC)287

..... regulating payments and dealings in foreign exchange, there shall be allowed, in accordance with and subject to the provisions of this section, a deduction of an amount equal to 50 per cent of the income so received in, or brought into, india, in computing the total income of he assessee :provided that the application for the approval of the agreement referred to in this section is made to the chief cit or, as the case may be, the director general in the prescribed form and verified in ..... relevant to the finance act no. ..... 80-o of the it act, 1961, an indian company or a non-corporate assessee, who is resident in india, is entitled to a deduction of 50 per cent of the income received by way of royalty, ..... 80-o of the it act for the reason 'that income under the agreement is generated in india and is not received in convertible foreign exchange as required under the ..... 2 of 1967, the then finance minister highlighted the fact that fiscal encouragement need to be given to indian industries to encourage them to provide technical know-how and technical services ..... 80-o of the it act need not necessarily be achieved by the form of external remittance followed by internal remittance and the legal nature and the effect of the transaction will remain the same when the amount is ..... 80-o of the it act will apply to the cases like the present one where the commission earned is for the supply of such information as is received by a foreign enterprise, which instead of getting the gross commission first .....

Asgar S. Patel and ors. Vs. Union of India and ors.

Court : Supreme Court of India

Reported in : (2000)160CTR(SC)307

..... :-a) this agreement shall be treated as the memorandum of understanding between the parties hereto for the purpose of section 269 uc of the income-tax act, 1961.b) within 15 days from the execution hereof, the vendor and the purchasers shall file the copy of this agreement along with a statement in form 37-i, with the appropriate authority as required by section 269 uc sub-section (3) of the income-tax act, 1961.c) in the event the appropriate authority makes an order for purchase by the central government of the ..... on 6.5.1994 the transferor and the transferees jointly filed a statement in form 37-i under section 269 uc of the income-tax act, 1961 (hereinafter the act, for short). ..... section 269 ue(1) as amended by the finance act, 1993 (w.e.f. ..... section 269 ue, as it originally stood prior to its amendment by the finance act, 1993 with effect from 17.11.1992, provided for the vesting in the central government of such immovable property free from all encumbrances. in c.b. ..... the scheme as to purchase by central government of immovable properties in certain cases of transfer as is envisaged by chapter xx-c of the income-tax act, 1971 came to be introduced by the finance act, 1986 in place of earlier chapter xx-a and applies to transactions effected after 1st october, 1986. .....

Yakub Abdul Razak Memon Vs. State of Maharashtra Th:cbi Mumbai

Court : Supreme Court of India

..... punishable under section 3(3) of tada (p) act, 1987 and section 120-b of ipc read with section 3(2)(i)(ii), 3(3)(4), 5 and 6 of tada (p) act, 1987 and read with sections 302, 307, 326, 324, 427, 435, 436, 201 and 212 of indian penal code and offences under sections 3 and 7 read with sections 25 (1-a), (1-b)(a) of the arms act, 1959, sections 9b (1)(a)(b)(c) of the explosives act, 1884, sections 3, 4(a)(b), 5 and 6 of the explosive substances act, 1908 and section 4 of the prevention of damage to public property act, 1984 ..... (a) shall be written in the language of the court; (b) shall contain the point or points for determination, the decision thereon and the reasons for the decision; (c) shall specify the offence (if any) of which, and the section of the indian penal code (45 of 1860) or other law under which, the accused is convicted and the punishment to which he is sentenced; (d) if it be a judgment of acquittal, shall state the offence of which the ..... . serial bomb blast in bombay and its suburbs on 12.03.1993 by: (i) arranging finance and managing the disbursement by generating the same through mulchand shah choksi (a-97) and from the firm m/s tejarat international owned by ayub memon (aa) for achieving the objective of conspiracy to commit the terrorist act; (ii) arranging air tickets through altaf ali mushtaq ali sayyed (a- 67), east west travels and others to enable the co-conspirators ..... of punjab (1991) 4 scc 341.while explaining the provisions under section 235(2) of .....

Shiv Raj Gupta Vs. Commissioner of Income-Tax, Delhi Iv

Court : Supreme Court of India

..... the assessee from swc is on account of handing over management and control of cdbl (which were earlier under the management and control of the assessee) to swc as terminal benefit and is taxable u/s 28(ii) of the income-tax act or same is exempt as capital receipt being non-competition fee by executing deed of covenant after going through the mou and the deed of covenant, both dated 13.04.1994, and copiously referring to the order of the ..... when a claim for allowance under section 10(2)(xv) of the income tax act is made, the income tax authorities have to decide whether the expenditure claimed as an allowance was incurred voluntarily and ..... before the introduction of section 28(va) by finance act 20 of 2002 with effect from the aforesaid date, any sum received under an agreement for not carrying out any activity in relation to any business was taxed, for the first time, under this provision and the provision not being retrospective would not apply to the ..... notice had stated that the swc group had gained substantial commercial advantage by the purchase of shares in cdbl as the turnover increased from inr979 crores in the accounting period ending 31.03.1991 to inr4517 crores in the accounting period ending 31.03.1997 is again neither here nor there. ..... have reached this figure after a period of six years (the date 30.09.1995 is wrongly recorded by the high court in paragraph 19 the correct date as per the letter dated 26.03.1998 is 31.03.1991, as has been pointed out by us hereinabove).19. .....

Rakesh Kumar Agarwalla Vs. National Law School of India University, Be ...

Court : Supreme Court of India

..... absence other than casual leave to any officer of the school and to make necessary arrangements for the discharge of the functions of such officer during his absence; (4) to manage and regulate the finances, accounts, investments, property, business and all other administrative affairs of the school and for that purpose to appoint such agents, as it may think fit; (5) to invest any money belonging ..... to the school, including any unapplied income, in such stock, funds, shares or securities, as it may from time to time, think fit or in the purchase of immovable property in india, with the like power of varying such investments from time to ..... under second proviso where prior concurrence of the academic council is required are all matters which are in domain of the academic council, thus, even though strictly second proviso of section 13(1) is not attracted when no regulations have been framed by the executive council but the object and purpose for conditioning the exercise of regulation making power of the executive council ..... , it may exercise it either in accordance with section 58(1) or by acting appropriately in the exercise of its general power of ..... 44 (2) the administration, management and control of the school and the income thereof shall be vested with the executive council which shall control and .....

The South Indian Bank Ltd. Vs. The Commissioner Of Income Tax

Court : Supreme Court of India

..... the question of law to be answered in the present batch of appeals is on interpretation of section 14a of the income tax act (for short the act ) and the same reads as follows: whether proportionate disallowance of interest paid by the banks is called for under section 14a of income tax act for investments made in tax free bonds/ securities which yield tax free dividend and interest to assessee banks when assessee had sufficient interest free own funds which were more than the investments made3. ..... section 14a was introduced to the income tax act by the finance act, 2001 with retrospective effect from 01.04.1962. ..... the high court herein endorsed the proportionate disallowance made by the assessing officer under section 14a of the income tax act to the extent of investments made in tax-free bonds/securities primarily because, separate account was not maintained by assessee. ..... the section 14a had been incorporated in the income tax act to ensure that expenditure incurred in generating such tax exempted income is not allowed as a deduction while calculating total income for the concerned assessee.6. ..... of interest free funds which were substantially more than the page 8 of 22 investment made and therefore the interest paid by the assessee on its deposits and other borrowings, should not be considered to be expenditure incurred in relation to tax free income on bonds and shares and as a corollary, there should be no disallowance under section 14a of the act. .....