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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: supreme court of india Year: 2012 Page 4 of about 80 results (0.112 seconds)

Aug 31 2012 (SC)

Sahara India Real Estate Corporation Limited and Others. Vs. Securitie ...

Court : Supreme Court of India

Decided on : Aug-31-2012

Reported in : (2013)1SCC1

..... indicate how the said companies seek to secure the liabilities which the companies have incurred and how they will protect the debenture holders;(e) if returns have been filed under income tax act, 1961, the same may be annexed to the affidavit to be filed.25. civil appeals later came for admission on 9.1.2012 and the interim order granted was ..... the companies act, 1956 substantially incorporated the provisions of the english companies act, 1948. however, there has been considerable shift of principles and concepts after the formation of 1948 english ..... consideration.powers of sebi, central government, (mca), registrar of companies under the companies act and sebi act:54. the companies act, 1956 is a consolidation of the then existing laws, statutory rules and certain judgments laid down by the courts in india and england. this court in commissioner of income tax, gujarat v. girdhardas and co. private ltd. air 1967 sc 795, noticed that ..... receipt of subscription amounts from investors, the appellant-companies had issued different kinds of bonds (described as abode bonds, nirman bonds and real estate bonds, by sirecl; and multiple bonds, income bonds and housing bonds, by shicl). since the term hybrid has been expressed as means any security there can be no doubt that a hybrid is per-se a .....

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Sep 27 2012 (SC)

Commissioner of Income Tax-ii Vs. Krishi Utpadan Mandi Samiti

Court : Supreme Court of India

Decided on : Sep-27-2012

..... for determination in this batch of civil appeals, is as follows:whether amounts transferred by the assessee to mandi parishad would constitute application of income for charitable purposes within the meaning of section 11(1)(a) of the income tax act, 1961?m/s. krishi utpadan mandi samiti, respondent-assessee herein, is a market committee incorporated and registered under the uttar pradesh krishi utpadan ..... directed by the state government or the board.it is not in dispute that both, the mandi samiti and the mandi parishad, are duly registered under section 12aa of the income tax act, 1961 [1961 act, for short]. it is also not in dispute that, after the amendment of section 10(20) and section 10(29) by finance ..... of the market committee fund and the surplus, if any, has to be invested in such manner as may be prescribed. this is one circumstance in the 1964 act to indicate application of income. similarly, under section 19-b(2) of 1964 adhiniyam, the assessee is statutorily obliged to apply market development fund for the purposes of development of market area. under ..... ) to the fund(s) of mandi parishad. even the question framed by court/authorities below is whether amounts transferred by the mandi samiti would constitute application of income under section 11(1)(a) of 1961 act. therefore, the question of voluntary contribution under section 11(1)(d) or under section 12(1) does not arise. the question of control may be relevant .....

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Sep 27 2012 (SC)

Re: Special Reference No. 1 of 2012 [Under Article 143(1) of the Const ...

Court : Supreme Court of India

Decided on : Sep-27-2012

..... it clear that this judgment shall not prejudice any person in the action which may be taken by other investigating agencies under income tax act, 1961, prevention of money laundering act, 2002 and other similar statutes."it needs to be noticed that a review petition came to be filed by the union against ..... language of article 14 uses the word "state" which as per article 12, includes the executive organ. [see: basheshar nath vs. the commissioner of income tax, delhi & rajasthan & anr.[35]]. besides, article 14 is expressed in absolute terms and its effect is not curtailed by restrictions like those imposed on ..... light of the questions raised, upon which the case is decided. [also see: ambica quarry works vs. state of gujarat & ors.[20] and commissioner of income tax vs. sun engineering works (p) ltd.[21]]. in other words, the 'law declared' in a judgment, which is binding upon courts, is the ratio ..... from the extracts from the judgment reproduced below:"24. the orders of the minister reproduced above read: "the applicant has no regular income to support herself and her family", "the applicant is an educated lady and belongs to scheduled tribe community", "the applicant is unemployed and has ..... payment of damages or compensation against the state the ultimate sufferer is the common man. it is the tax payers' money which is paid for inaction of those who are entrusted under the act to discharge their duties in accordance with law. it is, therefore, necessary that the commission when it .....

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Sep 28 2012 (SC)

Chloro Controls (i) Pvt Ltd. Vs. Severn Trent Water Purification Inc. ...

Court : Supreme Court of India

Decided on : Sep-28-2012

..... separate arbitrators on virtually the self-same question, such as causation. it is very desirable that everything should be done to avoid such a circumstance [abu dhabi gas, op.cit.at 427]83. we have already referred to the contention of mr. fali s. nariman, the learned senior counsel appearing for the appellant, that the provisions of section ..... or whether they included electro-chlorination equipment as well. the applicant had prayed for an order of restraint, preventing respondent nos. 1 and 2, the foreign collaborators, from acting upon their notice dated 23rd january, 2004, indicating termination of the joint venture agreements and the supplementary collaboration agreement. a further prayer was made for grant of injunction against ..... arbitration unless the agreement is null and void, inoperative or incapable of performance.89. still, the legislature opted to word section 45 somewhat dissimilarly. section 8 of the 1996 act also uses the expression parties simpliciter without any extension. in significant contra- distinction, section 45 uses the expression one of the parties or any person claiming through or ..... agreement executed between the parties. this agreement stipulated distinct terms and conditions which had to be adhered to by the parties while the capital control company inc. was to act as sole and exclusive agent for sale of the products. the products under the agreement meant design, supply, installation commissioning and after-sale services of chlorination systems and .....

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Oct 01 2012 (FN)

Armgold/Harmony Freegold Joint Venture (Proprietary) Vs. the Commissio ...

Court : South Africa Supreme Court of Appeal

Decided on : Oct-01-2012

..... income is defined as the total amount, in cash or otherwise, received by or accrued to or in favour of the taxpayer during the ..... objection was disallowed. the appellant appealed to the tax court, johannesburg which, on 1 august 2011, dismissed the appeal. with leave of the tax court, the appellant appeals now to this court. [4] it is useful at the outset to consider the general scheme of assessing liability for tax under the income tax act 58 of 1962 (the act). as a starting point, a taxpayer's gross ..... period of assessment. from such gross income are deducted any amounts that are exempt from normal tax in order to calculate the taxpayers income (in the present ..... same year of assessment in carrying on any other trade .... [6] two important factors arise from this: 1. first, as i have mentioned, income as defined in the act is the amount after the deduction from gross income of any amounts exempt from normal tax but before further allowable deductions under part i of schedule ii are made to arrive at the taxpayers taxable .....

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Oct 03 2012 (SC)

Girish Ramchandra Deshpande. Vs. Cen. Information Commr and ors.

Court : Supreme Court of India

Decided on : Oct-03-2012

Reported in : (2013)1SCC212

..... respondent, his family members and friends and relatives at the marriage of his son. the information mostly sought for finds a place in the income tax returns of the third respondent. the question that has come up for consideration is whether the above-mentioned information sought for qualifies to be ..... details as a matter of right.14. the details disclosed by a person in his income tax returns are personal information which stand exempted from disclosure under clause (j) of section 8(1) of the rti act, unless involves a larger public interest and the central public information officer or the state ..... been rightly held to be personal information exempted from disclosure under clause (j) of section 8(1) of the rti act by the cpio and the appellate authority, and ..... of the rti act. it may be pertinent to mention that this issue came up before the full bench of the commission in appeal no.cic/at/a/2008/000628 (milap choraria v. central board of direct taxes) and the commission vide its decision dated 15.6.2009 held that the income tax return have ..... on the ground that the information sought for was qualified to be personal information as defined in clause (j) of section 8(1) of the rti act.3. the petitioner herein had submitted an application on 27.8.2008 before the regional provident fund commissioner (ministry of labour, government of india) .....

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Oct 15 2012 (SC)

State of Maharashtra Through Cbi, Anti Corruption Branch, Mumbai. Vs. ...

Court : Supreme Court of India

Decided on : Oct-15-2012

Reported in : JT2012(10)SC446

..... respondent on the basis of the same. in fact, it is the income of his wife which was duly proved before the statutory authorities, under the income tax act 1961. subsequent to the conviction of the respondent, the appeal was allowed by the income tax appellate tribunal, mumbai, vide order dated 17.3.2009 wherein, it ..... of central excise, mumbai, for the offences punishable under section 13(2) r/w 13(1)(e) of the act 1988, alleging that he possessed assets disproportionate to his disclosed source of income which was to the extent of rs. 7,64,368/-b) after completing the investigation of the case, the ..... , air 2001 sc 3320, this court examined a case wherein a government servant who had been convicted under the provisions of the prevention of corruption act would lose his job in the event that the conviction was not stayed. the court held that when a public servant is found guilty of corruption ..... and 466 i.p.c. while the other respondents, who are also public servants, have been convicted under the provisions of the prevention of corruption act. in such a case, the discretionary power to suspend the conviction either under section 389 or under section 482 cr.p.c. should not have ..... investigating agency filed a charge-sheet dated 27.12.2000, under the said provisions of the act, 1988. the trial court concluded the trial .....

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Nov 08 2012 (FN)

South African Property Owners Association Vs. the Council of the City ...

Court : South Africa Supreme Court of Appeal

Decided on : Nov-08-2012

..... by or on behalf of the municipality; and (b) if authorised by national legislation, other taxes, levies and duties appropriate to local government or to the category of local government into which that municipality falls, but no municipality may impose income tax, value-added tax, general sales tax or customs duty. (2) the power of a municipality to impose rates on property, surcharges ..... on fees for services provided by or on behalf of the municipality, or other taxes, levies or duties (b) may be regulated by national legislation. [8] the relevant national legislation is the systems act, the finance act and the rates act. the three acts ..... . it should also be considered that this may be a politically more acceptable method as these businesses also have means to claim these costs from company tax. it does not affect the domestic income of residents, although certain businesses have claimed that the current increases already caused small businesses to close down. this would have a detrimental impact on the ..... when an annual budget is tabled it must be accompanied, inter alia, by draft resolutions approving the budget and imposing any municipal tax (that is, rates) and setting any municipal tariffs (s 17(3)). the rates act provides that the levying of rates must form part of the municipalitys annual budget process set out in chapter 4 of the finance .....

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Nov 29 2012 (FN)

H R Computek (Pty) Ltd. Vs. the Commissioner for the South African Rev ...

Court : South Africa Supreme Court of Appeal

Decided on : Nov-29-2012

..... matter in respect of which a taxpayer may object. it includes an assessment made upon a taxpayer in terms of s 31. 'assessment' is not defined in the vat act. but it is in the income tax act. as harms dp put it (first south african holdings (pty) ltd v commissioner for south african revenue service73 satc 221 para 15) an assessment - is a determination ..... ? by the commissioner of one or more matters (compare itc 107728 satc 33 at 38 percorbett j). this appears from the definition of the word in s 1 of the income tax act: assessment? means the determination by the commissioner, by way of a notice of assessment (including a notice of assessment in electronic form) served in a manner contemplated in section 106 ..... matters.' [5] in the statement of the grounds of assessment delivered on 17 february 2011 in terms of rule 10 of the tax rules (made in terms of s 107a of the income tax act 58 of 1962 (the income tax act)) sars contended: when the objection (notice of objection and the letter of the grounds of objection) and the appeal (notice of appeal and the letter ..... no mention is made of a challenge to the revised capital assessment. [9] the provisions of s 107a of the income tax act and any rules made under that act apply to objections and appeals (ss 32 (2)) and 33(4) respectively of the vat act). rule 4 states that the notice of objection must be in a form prescribed by the commissioner of sars and .....

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Nov 06 2012 (SC)

Rohitash Kumar and ors. Vs. Om Prakash Sharma

Court : Supreme Court of India

Decided on : Nov-06-2012

..... v. m/s. standard motor products etc., air 1989 sc 1298; kattite valappil pathumma & ors. v. taluk land board & ors., air 1997 sc 1115; and hemalatha gargya v. commissioner of income-tax, a.p. & anr., (2003) 9 scc 510).13. the rules of administrative interpretation/executive construction, may be applied, either where a representation is made by the maker of a legislation ..... amend the law, and that the court cannot be called upon, to discard the cardinal rule of interpretation for the purpose of mitigating such hardship. if the language of an act is sufficiently clear, the court has to give effect to it, however, inequitable or unjust the result may be. the words, dura lex sed lex' which mean "the law is ..... be decisive with respect to questions of construction. administrative construction, i.e., contemporaneous construction that is provided by administrative or executive officers who are responsible for the execution of the act/rules etc., should generally be clearly erroneous, before the same is over-turned. such a construction, commonly referred to as practical construction although not controlling, is nevertheless entitled to be ..... , the person placed at serial no. 8 had moved to serial no. 62, and the one placed at serial no. 11 had moved to serial no. 64. thus, such an act has materially adversely affected the seniority of officers even though they were duly selected in the same batch. the provisions of rule 3 of the border security force (seniority, promotion .....

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