Court : Supreme Court of India
Reported in : AIR1993SC1325; (1992)108CTR(SC)275; [1993]199ITR43(SC); 1992(2)SCALE867; (1993)1SCC249; [1992]Supp2SCR153
..... of sub-section (2) of section 10, claim for depreciation under clause (vi) and/ or (vii) of the same sub-section was excluded.23. in the income-tax act, 1961, a similar provision was made in section 35. clause (iv) of sub-section (1) of section 35 provided for deduction of expenditure of a capital nature incurred on ..... of writ petitions is to the retrospective operation given to the amended clause (iv) of sub-section (2) of section 35 of income-tax act, 1961, by the finance (no. 2) act, 1980. the said finance act added the words 'or any other' in the said clause and gave it retrospective effect from april 1, 1962. as amended, clause ..... the outcome of an amendment made by the finance (no. 2) act, 1980 (hereinafter referred to as 'the 1980 act') to the income-tax act, 1961 (hereinafter referred to as 'the 1961 act'). it is also a curious co-incidence that the 1980 act effected two amendments in the 1961 act with retrospective effect and the validity of both these provisions have been challenged .....
Tag this Judgment!Court : Mumbai
Reported in : (2009)224CTR(Bom)481; [2009]179TAXMAN30(Bom)
..... receipt of the amount in issue by him is not an income subject to payment of income-tax within the definition of section 2(24) of the income-tax act (hereinafter referred to as 'the act', for the sake of brevity) and secondly (rather alternatively) that the same is 'income from long-term capital gain' and not 'income from other sources' as held by all the lower authorities.2 ..... other sources'. the relevant portion of section 56 reads thus:56. income from other sources.-(1) income of every kind which is not to be excluded from the total income under this act shall be chargeable to income-tax under the head 'income from other sources', if it is not chargeable to income-tax under any of the heads specified in section 14, items a to e.(2) in .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1998]229ITR477(P& H)
..... law has been referred at the instance of the commissioner of income-tax by the income-tax appellate tribunal (for short 'the tribunal'), under section 256(1) of the income-tax act, 1961, (for short 'the act') : ' whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal erred in law in holding that the assessment order passed ..... by the income-tax officer for the assessment year 1975-76 on september 16, 1978, ..... so, then the proposed variation would be below rs. 1,00,000 and, consequently, section 144b of the act would not be attracted in the case of the assessee. 6. the commissioner of income-tax also did not accept the assessee's second plea that the assessing officer, by resorting to section 144b, .....
Tag this Judgment!Court : Chennai
Reported in : [2001]251ITR479(Mad)
..... the existing liability of the assessee.11. it will be, therefore, our endeavour to consider the real import of section 158bc as also section 132b of the income-tax act. in our opinion, the interpretation given by the learned single judge is absolutely correct and we agree with the same.12. there can be no dispute that ..... chitra venkataraman. learned counsel contended that the interpretation by the learned judge of section 158bc of the income-tax act was not correct. according to learned standing counsel, there were ample powers in that section if read with section 132b of the income-tax act to adjust the amounts in the way the authorities had done in this case. learned counsel ..... where there is a search under section 132 of the income-tax act, the assessment would be under chapter xiv-b of the act, which was a specially introduced chapter by the finance act, 1995. a glance at the whole scheme of this chapter suggests that under section 158ba, there is .....
Tag this Judgment!Court : Rajasthan
Reported in : [1991(62)FLR252]; (1992)ILLJ903Raj; 1990(1)WLN361
..... its employees is 7. this firm is also separately registered with the industries department and has got its separate central sales tax and rajasthan sales tax numbers and is separately assessed under the income tax act. this firm also purchases limestones from khoja lime udyog and operates its kilns. it is also stated in this petition that ..... the three firms are separately owned by three individuals, they kept their accounts separate and are separately assessed under the central sales tax and rajasthan sales tax act and the income tax act. not only this, there is absolutely nothing on record to suggest that there is a functional integrality or integrity of finance and ..... of the establishment; (ii) engaged as an apprentice, not being an apprentice engaged under the apprentices act, 1961, or under the standing orders of the establishment'. the same term has been defined under the employees state insurance act, 1948:2.(9) 'employee' means any person employed for wages in or in connection with the .....
Tag this Judgment!Court : Mumbai
Reported in : (2001)165CTR(Bom)67; [2000]245ITR823(Bom)
..... receipt in the hands of the foreign company and, therefore, the same was liable to tax under section 9(1)(vii) read with section 115a and section 44d of the income-tax act, 1961. accordingly, the assessing officer directed the assessee to deduct tax at source on all payments irrespective of the fact whether they are remitted to the foreign ..... could be treated as payment in lieu of fees. being aggrieved by the decision of the tribunal, the department has come in appeal under section 260a of the income-tax act.2. the short point which arises for determination in this appeal is, whether a substantial question of law arises in this case ?3. mr. desai, learned ..... that the scheme of section 195 clearly indicates that the expression 'any other sum chargeable under the provisions of the income-tax act' would mean a sum on which income-tax is leviable. in other words, according to learned counsel, tax was required to be deducted on the gross sum. in this connection, he relied upon the judgment of the .....
Tag this Judgment!Court : Mumbai
Reported in : [1963]48ITR404(Bom)
..... is whether the said expression as used in section 30(1) has that meaning. it is well settled that the expression 'assessment' has been used in the income-tax act in different senses at different places. what is the correct connotation of the expression in a given provision must be determined on an examination of the said provision ..... year 1950-51 is the sum of rs. 20,933 or that sum increased by the sum of rs. 11,860 (2) whether section 23a of the income-tax act, 1922, is ultra vires the legislature (3) whether any appeal lies to the appellate assistant commissioner against levy of penal interest correctly computed in accordance with the provisions ..... appeal was confirmed by the tribunal, relying on the decision of this court in commissioner of income-tax v. jagdish prasad ramnath. 8. the provision relating to appeals from the order of the income-tax officer is contained in section 30 of the income-tax act. that section does not specifically provide for an appeal against the levy of a penal .....
Tag this Judgment!Court : Mumbai
Reported in : (1955)57BOMLR425; [1955]27ITR684(Bom)
..... , the first previous year which must be taken into consideration is the year 1949 and not the year 1948. now, 'previous year' is defined in the income-tax act itself and it is a period of 12 months according to the method of accounting of the assessee. a previous year is never a broken period of a ..... few months. undoubtedly, the company is liable to pay tax on the profits made by it during this broken period, but the income-tax act provides a special machinery for taxing an assessee whose business is discontinued during particular period. therefore, for the purpose of the income-tax act the period 1st january, 1949, to the 30th april, 1949, ..... and its business was discontinued, but as we said before, although the income-tax act might lay down the machinery and provide the procedure for assessing the income of the company during this broken period, it does not follow that for the purpose of the income-tax act this broken period becomes the previous year for the purpose of the proviso .....
Tag this Judgment!Court : Mumbai
Reported in : (1960)62BOMLR11
..... petition against respondents 2 and 3. (67) the petition was filed and rule nisi was granted before section 49ee as inserted in the income-tax act by section 3 of the income-tax (amendment) act, 1959. the petition was, therefore, allowed to be amended. a further amendment of the petition was sought by mr. amin in the ..... duly recorded by the commission.(5) in the meanwhile, s. 34 of the indian income-tax act was amended by the income-tax and business profits tax (amendment) act, 1948 (act 48 of 1948). under section 34, after it was amended. if (a) the income-tax officer had reason to believe that by reason of the omission or failure on the ..... fall to be determined: (i) whether the union parliament was competent to enact section 3 of the indian income-tax (amendment) act. 1959 (act no. 1 of 1959) whereby section 49ee was incorporated in the indian income-tax act, 1922, prohibiting the entertainment of claims for refund of money paid or security furnished pursuant to settlements relating to .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1960Bom353; [1960]40ITR624(Bom)
..... petition against respondents nos. 2 and 3. 83. the petition was filed and rule nisi was granted before section 49ee was inserted in the income-tax act by section 3 of the income-tax (amendment) act, 1959. the petition was, therefore, allowed to be amended. a further amendment of the petition was sought by mr. amin in the ..... duly recorded by the commission. 6. in the meanwhile, section 34 of the indian income-tax act was amended by the income-tax and business profits tax (amendment) act, 1948 (xlviii of 1948). under section 34 after it was amended, if (a) the income-tax officer had reason to believe that by reason of the omission or failure on the part ..... provisions do not provide for any payment of interest and result in discrimination between payments made under a settlement and advance payment under the provisions of the income-tax act. 85. in order to examine the arguments on the several points canvassed before us by learned counsel on either side on this question of constitutionality of .....
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