Court : Supreme Court of India
Reported in : AIR1991SC570; (1991)1CompLJ249(SC); (1991)92CTR(SC)62; [1991]188ITR327(SC); JT1991(1)SC229; 1991(1)SCALE66; (1991)2SCC323; [1991]1SCR117
..... the submissions of the assessee company and disposed of the said applications vide order dated 5th september, 1964 under section 195(2) of the income tax act, 1961 directing the assessee company to deduct tax @ 65% on the entire sum proposed to be remitted.4. the assessee company preferred an appeal to the appellate assistant commissioner. it did ..... the assessee.9. it was contended by mr. manchanda that the order passed by the income tax officer under section 195(2) of the income tax act, 1961 (hereinafter referred to as the act) was not appealable to a.a.c. under section 248 of the act. his further contention was that the order passed by a.a.c. was totally ..... outside india and the payments were also being made outside india so that the amount paid was not chargeable to tax under the indian statute, (b) there was a bar to assessment under the income tax act, 1961 in terms of an agreement for avoidance of double taxation between india and the federal german republic referred to above .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1975SC1017; (1975)4SCC16; [1975]3SCR735; 1975(7)LC275(SC)
..... the chairman under office order dated january 1, 1964 which included matters relating to the reopening of assessments under section 34 of the income-tax act, 1922 or under section 147 of the income-tax act, 1961, but the paragraph adds that 'later with the approval of the central government this item of work was assigned to the member ..... writ petitions filed by the respondent before us challenging the validity of six notices dated september 7, 1965 issued under section 148 of the income-tax act, 1961 (hereinafter referred to as the act). the notices relate to the assessment years 1949-50, 1950-51 and 1951-52, the corresponding accounting years ending on the 30th september ..... work of according sanction of the board under section 151(1) for reopening of assessments under section 147 of the income-tax act, 1961 to which he consented.4. rule 4 of the central board of direct taxes (regulation of transaction of business) rules, 1964 envisaged that chairman may by an order made with the previous .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1967SC617; [1964]51ITR849(SC); [1964]6SCR91
..... allowed and the question answered in favour of the assessee firm but only in respect of the business in piece-goods, yarn and banking which alone had paid tax under the income-tax act of 1918. i would therefore allow the appeals with costs here and in -the high court. order by court in accordance with the opinion of the majority ..... (4) of s. 25. the second condition of the applicability of s. 25(4) is that business must have been carried on at the commencement of the indian income-tax act (amendment) act, 1939, that is, april 1, 1939, by the person claiming the relief. the third condition is that the person carrying on the business on april 1, 1939 has ..... april 1, 1939. the contention of the department has so far succeeded and i need not give the details of the decisions of the various tribunals under the indian income- tax act and the high court, because my learned brother's judgment gives all such details. i shall therefore address myself to the questions (a) whether there was a succession .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (2004)1CompLJ50(SC); (2003)184CTR(SC)450; [2003]263ITR707(SC); JT2003(Suppl2)SC205; 2003(8)SCALE287; (2004)10SCC1
..... carrying on no business there; they are, in fact, prevented from earning any income there; they are not liable to income tax on capital gains under the mauritius income-tax act. they are liable to pay income-tax under indian income-tax act, 1961, since they do not pay any income-tax on capital gains in mauritius, hence, they are not entitled to the benefit ..... entities are really resident by investigating the center of their management and thereafter to apply the provisions of income-tax act, 1961 to the global income earned by them by reason of sections 4 and 5. of the income-tax act 1961.81. it is urged by the learned attorney general and shri salve for the appellants that the phrase ..... law. in the situation where the terms of the dtac have been made applicable by reason of section 90 of the income-tax act, 1961, even if they derogate from the provisions of the income-tax act, it is not possible to say that this principle of lifting the veil of incorporation should be applied by the court .....
Tag this Judgment!Court : Supreme Court of India
Reported in : (1970)2SCC180
..... . under the scheme of section 15-c the profits or gains of an industrial undertaking must be determined under and in the manner provided by section 10 of the income tax act. for that purpose all the allowances under sub-section (2) must be taken into account, and the resultant amount forms a component of the taxable profit. if by ..... -section (1) of section 15-c are not business profits: they are taxable profits computed in accordance with the provisions of section 10 of the income tax act. under section 15-c(1) no tax is payable by the industrial undertaking on its taxable profits equal to six per cent per annum of the capital employed. sub-section (4) of ..... profits, for the depreciation for the current and the previous years amounted to rs 2,83,343 which was an admissible allowance in the computation of income under section 10 of the income tax act. since full effect could not be given to the allowance, the company was entitled to add to the depreciation for the following year the unabsorbed .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996IIIAD(SC)488; AIR1996SC1887; I(1996)BC659(SC); [1996]86CompCas555(SC); (1996)133CTR(SC)505; [1996]219ITR498(SC); JT1996(3)SC410; 1996(1)KLT699(SC); 1996(3)SCALE20; (199
..... views is correct.4. in order to appreciate the controversy in question, it will be useful to bear in mind the relevant provisions of the income-tax act, 1961 and the companies act, 1956. the relevant provisions are extracted herein-below :income-tax act, 1961178. company liquidation. - (1) every person -(a) who is the liquidator of any company which is being wound up, whether under the orders of ..... in the section.6. in the judgment under appeal the high court has referred to the legislative history and background that led to the enactment of section 178 of the income-tax act, 1961. the high court has referred to report of the company law reforms committee which has been referred to in the decision of the andhra pradesh high court, wherein the plea .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2003]263ITR706(SC); [2003]132TAXMAN373(SC)
..... carrying on no business there; they are, in fact, prevented from earning any income there; they are not liable to income tax on capital gains under the mauritius income tax act. they are liable to pay income-tax under indian income tax act, 1961, since they do not pay any income-tax on capital gains in mauritius, hence, they are not entitled to the benefit ..... entities are really resident by investigating the center of their management and thereafter to apply the provisions of income tax act, 1961 to the global income earned by them by reason of sections 4 and 5 of the income tax act, 1961.76. it is urged by the learned attorney general and shri salve for the appellants that the phrase ..... law. in the situation where the terms of the dtac have been made applicable by reason of section 90 of the income tax act, 1961, even if they derogate from the provisions of the income tax act, it is not possible to say that this principle of lifting the veil of incorporation should be applied by the court. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1970SC1667; [1970]77ITR354(SC); [1971]1SCR434
..... . under the scheme of section 15-c the profits or gains of an industrial undertaking must be determined under and in the manner provided by section 10 of the income-tax act. for that purpose all the allowances under sub-section (2) must be taken into account, and the resultant amount forms a component of the taxable profit. if ..... section (1) of section 15-c are not business profits : they are taxable profits computed in accordance with the provisions of section 10 of the income-tax act. under section 15-c(1) no tax is payable by the industrial undertaking on its taxable profits equal to six per cent per annum of the capital employed. sub-section (4) of ..... profits, for the depreciation for the current and the previous years amounted to rs. 2,83,343 which was an admissible allowance in the computation of income under section 10 of the income-tax act. since full effect could not be given to the allowance, the company was entitled to add to the depreciation for the following year the unabsorbed .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2009BusLR418(SC); (2009)223CTR(SC)20; [2009]312ITR225(SC); JT2009(5)SC78; 2009(4)SCALE384; [2009]178TAXMAN505(SC); 2009(4)LC1742(SC); 2009AIRSCW3104
..... combination of a machinery provision which also provides for chargeability.27. lastly, on the question of extra-territorial operation of the income- tax act, 1961, it may be noted that the 1961 act has extra-territorial operation in respect of the subject-matters and the subjects which is permissible under article 245 of the ..... , shri kannan kapoor, and shri salil kapoor, learned counsel appearing for various other assessees have adopted the arguments mentioned hereinabove.iii. relevant provisions of the income-tax act, 1961:section 2 - definitions.2.(37a) 'rate or rates in force' or 'rates in force', in relation to an assessment year or financial year, ..... assessability in the hands of the employee-assessee (recipient)? in other words, whether tds provisions under the income-tax act, 1961 are applicable to payments made abroad by the foreign company, which payments are for income chargeable under the head 'salaries' and which are made to expatriates who had rendered services in india? .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1999SC427; [1998]234ITR188(SC); JT1998(6)SC277; 1998(5)SCALE241; (1998)6SCC658
..... court reported in (1989) 117 itr 176. under the impugned judgment the high court has set aside the attachment levied under rule 11 of the second schedule to the income-tax act, 1961 by the tax recovery officer on an immovable property originally belonging to the assessee (since deceased). the property was claimed by the wife of the assessee (since deceased) and his daughter, original ..... become final. while examining the declaration given in the present case by the income tax officer under section 281 of the income-tax act, the high court had expressly held that by introduction of section 281 in the income-tax act, 1961, the legislature had no intention to confer an exclusive power and jurisdiction upon the income tax authorities to decide the questions arising under section 281. section 281 merely declared .....
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