Court : Supreme Court of India
..... page 1 of 17 their writ petitions, where the vires of section 17(2)(viii) of the income tax act, 19611 or rule 3(7)(i) of the income tax rules, 19622, or both, were challenged.2. section 17(2)(viii) of the act includes in the definition of perquisites 3, any other fringe benefit or amenity , as may be prescribed ..... of the actual interest rate charged by the bank from a customer on a loan.4. sections 15 to 17 of the act relate to income tax chargeable on salaries. section 15 stipulates incomes that are chargeable to income tax as salaries . section 16 prescribes deductions allowable under salaries . section 17 defines the expressions salary , perquisites and profits in ..... or advantage, having a monetary value, which a holder of an office derives from the employer s spending on his behalf.17. similarly, in additional commissioner of income tax v. bharat v. patel18, this court held that perquisite , in the common parlance relates to any perk or benefit attached to an employee or position besides .....
Tag this Judgment!Court : Supreme Court of India
..... an independent witness is untenable on the face of record. manubhai(pw-1), the panch witness associated in the search and seizure proceedings was serving in the income tax department and hence by no stretch of imagination, can it be accepted that the witness was a stock witness of the ncb or was an interested witness. ..... ncb fervently opposed the submissions advanced by the learned counsel for the appellants. it was contended that the panch witness manubhai(pw-1) was serving in the income tax department and hence, he cannot be termed to be a partisan or a stock witness. manubhai(pw-1) has fully supported the prosecution case in his testimony ..... section 50 of the ndps act which vitiates the conviction of the appellants. (iii) that no independent panch witness was associated in the search and seizure proceedings and hence, the entire case of the prosecution regarding the seizure becomes doubtful. 7 (iv) that the panch witness manubhai(pw-1) was serving in the income tax department and one .....
Tag this Judgment!Court : Karnataka
..... a has committed criminal breach of trust.18. i consider that all companies and employers and those persons who collect taxes under an obligation of tax : laws are legally bound to deposit the same with income tax/sales tax departments. they hold money in trust and if they do not deposit the money with the concerned department as per ..... permits for importing spices 43 from outside the state. the high court had quashed the first information report by expressing its opinion that under the sales tax act, only bureau of investigation constituted by the state government can conduct the investigation or hold inquiry and police officer cannot register first information report for the ..... otherwise dealt according to the provisions contained in the code, set-aside the order passed by the high court on the ground that the provisions of the sales tax act did not provide the police officer to register a case and investigate in respect of the offence under the penal code. 4422. the hon'ble supreme court .....
Tag this Judgment!Court : Supreme Court of India
..... current conundrum concerns the assets of the company and its functioning, and these would not be jeopardized if a civil suit continues. in hardip singh v. income tax officer, amritsar, [1979]. 118 itr57(sc) the winding-up petition was allowed to continue and only when the third and final stage of the ..... revival of such companies and upon failure, to wind them up.51. one of the first such enactments was the industrial development and regulation act, 1951 ( idra act, 1951 ) which contained provisions empowering the central government to cause investigation into the affairs of an industrial company which is to be wound up ..... intention of coercing creditors into unfair settlements rather than implementing projected schemes supposed to assist in their reconstruction. when the statute is notified, amendments to the companies act, 1956 will become effective and all proceedings pending before bifr will stand abated. to some extent, therefore, the present controversy has been rendered academic.6. .....
Tag this Judgment!Court : Karnataka Dharwad
..... that the grounds mentioned in the reassessment order is not one of the grounds mentioned in section 6(2) of kteg act. referring to the law laid down by the apex court in the case of commissioner of income tax, delhi .vs. kelvinator india limited8, he would contend that reassessment has to be based on fulfillment of certain pre ..... process is to ensure that it is not initiated on the mere change of opinion by the 38 assessing authority. the apex court in commissioner of income tax, delhi .vs. kelvinator india limited15 has laid down this principle clearly. the apex court emphasized that reassessment should be made on tangible material that indicates an escape ..... constitution of india. to support his arguments, the learned advocate general has referred to the definition of prevailing market price under section 225 of karnataka value added tax act, 20 2003 which means wholesale price in force in the market.12. while countering the petitioner s reliance on the apex court judgment in m/s.hansa .....
Tag this Judgment!Court : Karnataka Dharwad
..... that the grounds mentioned in the reassessment order is not one of the grounds mentioned in section 6(2) of kteg act. referring to the law laid down by the apex court in the case of commissioner of income tax, delhi .vs. kelvinator india limited8, he would contend that reassessment has to be based on fulfillment of certain pre ..... process is to ensure that it is not initiated on the mere change of opinion by the 38 assessing authority. the apex court in commissioner of income tax, delhi .vs. kelvinator india limited15 has laid down this principle clearly. the apex court emphasized that reassessment should be made on tangible material that indicates an escape ..... constitution of india. to support his arguments, the learned advocate general has referred to the definition of prevailing market price under section 225 of karnataka value added tax act, 20 2003 which means wholesale price in force in the market.12. while countering the petitioner s reliance on the apex court judgment in m/s.hansa .....
Tag this Judgment!Court : Karnataka Dharwad
..... that the grounds mentioned in the reassessment order is not one of the grounds mentioned in section 6(2) of kteg act. referring to the law laid down by the apex court in the case of commissioner of income tax, delhi .vs. kelvinator india limited8, he would contend that reassessment has to be based on fulfillment of certain pre ..... process is to ensure that it is not initiated on the mere change of opinion by the 38 assessing authority. the apex court in commissioner of income tax, delhi .vs. kelvinator india limited15 has laid down this principle clearly. the apex court emphasized that reassessment should be made on tangible material that indicates an escape ..... constitution of india. to support his arguments, the learned advocate general has referred to the definition of prevailing market price under section 225 of karnataka value added tax act, 20 2003 which means wholesale price in force in the market.12. while countering the petitioner s reliance on the apex court judgment in m/s.hansa .....
Tag this Judgment!Court : Karnataka Dharwad
..... that the grounds mentioned in the reassessment order is not one of the grounds mentioned in section 6(2) of kteg act. referring to the law laid down by the apex court in the case of commissioner of income tax, delhi .vs. kelvinator india limited8, he would contend that reassessment has to be based on fulfillment of certain pre ..... process is to ensure that it is not initiated on the mere change of opinion by the 38 assessing authority. the apex court in commissioner of income tax, delhi .vs. kelvinator india limited15 has laid down this principle clearly. the apex court emphasized that reassessment should be made on tangible material that indicates an escape ..... constitution of india. to support his arguments, the learned advocate general has referred to the definition of prevailing market price under section 225 of karnataka value added tax act, 20 2003 which means wholesale price in force in the market.12. while countering the petitioner s reliance on the apex court judgment in m/s.hansa .....
Tag this Judgment!Court : Karnataka
..... laid down by the apex court in the case of shayara bano vs union of india - (2017) 9 scc1(paras 87, 95, 100 and101) and deputy commissioner of income tax vs pepsi foods ltd.-. (2021) 433 itr295(sc) (paras 14 & 22). (viii) the circulars cannot restrict the scope of statutory provision/notification by reading into them ..... applicable. it is an undisputed fact that director general of foreign trade [dgft]. has issued the license under section 9 of foreign trade development and regulation act, 1992 [ftdr act]. and thereby issued seis scrips [service exports from india scheme].. though dgft has issued show cause notices on various dates viz., 1st scn on 21-10 ..... note of hereinafter at the appropriate stage.6. in order to achieve the aforesaid objectives, power is given to the central government under section 3 of the act to make provisions relating to imports and exports with primary focus on the development and regulation of foreign trade. further, section 5 specifically empowers the central .....
Tag this Judgment!Court : Karnataka
..... laid down by the apex court in the case of shayara bano vs union of india - (2017) 9 scc1(paras 87, 95, 100 and101) and deputy commissioner of income tax vs pepsi foods ltd.-. (2021) 433 itr295(sc) (paras 14 & 22). (viii) the circulars cannot restrict the scope of statutory provision/notification by reading into them ..... applicable. it is an undisputed fact that director general of foreign trade [dgft]. has issued the license under section 9 of foreign trade development and regulation act, 1992 [ftdr act]. and thereby issued seis scrips [service exports from india scheme].. though dgft has issued show cause notices on various dates viz., 1st scn on 21-10 ..... note of hereinafter at the appropriate stage.6. in order to achieve the aforesaid objectives, power is given to the central government under section 3 of the act to make provisions relating to imports and exports with primary focus on the development and regulation of foreign trade. further, section 5 specifically empowers the central .....
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