Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: us supreme court Year: 2012 Page 1 of about 91 results (0.085 seconds)

May 14 2012 (FN)

Hall Vs. United States

Court : US Supreme Court

Decided on : May-14-2012

..... two closely related chapters, we decline to create one. [ 7 ] iii petitioners and the dissent advance several arguments for why the postpetition income taxes at issue should be considered incurred by the estate, notwithstanding the irc s separate taxable entity rules. but none provides sufficient reason to overcome the ..... claims arising from the sale of farm as- sets ); bankruptcy abuse prevention and consumer protection act of 2005, 705(1)(a), 119stat. 126 (amending 507(a)(8) to clarify that it only covers income tax claims for taxable years that end on or before the date of the filing of the bankruptcy ..... income tax law, 346(a), and vice versa, 346(b). and given that the bankruptcy code instructs that the as- signment of state or local tax liabilities shall turn on the irc s separate taxable entity rules, there is parity in turning to such rules in assigning federal tax liabilities. in the same act ..... the estate, and may not be taxed to such individual. 92stat ..... chapter-specific division of tax liabilities between the estate and the debtor. bankruptcy reform act of 1978, 92stat. 2565. section 346(b)(1) provided that in an individual-debtor chapter 7 or 11 bankruptcy, any income of the estate may be taxed under a state or local law imposing a tax . . . only to .....

Tag this Judgment!

Jun 28 2012 (FN)

National Federation of Independent Business Vs. Sebelius

Court : US Supreme Court

Decided on : Jun-28-2012

..... that the penalty will be paid to the internal revenue service with an individual s taxes, and shall be assessed and collected in the same manner as tax penalties, such as the penalty for claiming too large an income tax refund. 26 u. s. c. 5000a(g)(1). the act, however, bars the irs from using several of its normal enforcement tools, such as criminal ..... (r)(1) (2006 ed., supp. iv), to displays of nutritional content at chain restaurants, see 21 u. s. c. 343(q)(5)(h). the act raises billions of dollars in taxes and fees, including exactions imposed on high-income taxpayers, see aca 9015, 10906; hcera 1402, medical devices, see 26 u. s. c. 4191 (2006 ed., supp. iv), and tanning booths, see 5000b ..... the affordable care act imposes on those without health insurance looks like a tax in many respects. the [s]hared responsibility payment, as the statute entitles it, is paid into the treasury by taxpayer[s] when they file their tax returns. 26 u. s. c. 5000a(b). it does not apply to individuals who do not pay federal income taxes because their household income is less ..... prosecutions and levies. 5000a(g)(2). and some individuals who are subject to the mandate are nonetheless exempt from the penalty for example, those with income below a certain threshold and .....

Tag this Judgment!

Jan 20 2012 (SC)

Vodafone International Holdings B.V. Vs. Union of India and anr.

Court : Supreme Court of India

Decided on : Jan-20-2012

..... and prove such transactions are fraudulent by applying look at principle. overseas companies and fdi 49. overseas companies are companies incorporated outside india and neither the companies act nor the income tax act enacted in india has any control over those companies established overseas and they are governed by the laws in the countries where they are established. from country ..... transfer or divestment or extinguishment of holding company's rights and interests, resulting in transfer of capital asset situated in india. 160. section 9 of the income tax act deals with the incomes which shall be deemed to accrue or arise in india. under the general theory of nexus relevant for examining the territorial operation of the legislation, two ..... spite of being separate legal personalities, if the facts reveal that they indulge in dubious methods for tax evasion. (b) tax avoidance and tax evasion: tax avoidance and tax evasion are two expressions which find no definition either in the indian companies act, 1956 or the income tax act, 1961. but the expressions are being used in different contexts by our courts as well as ..... to the transaction was a transfer of other rights and entitlements which rights and entitlements constituted in themselves capital assets within the meaning of section 2(14) of the income tax act, 1961. according to the high court, vih acquired the cgp share with other rights and entitlements whereas, according to the appellant, whatever vih obtained was through the .....

Tag this Judgment!

Jan 24 2012 (SC)

Bangalore Development Authority Vs. Air Craft Employees Coop.Society L ...

Court : Supreme Court of India

Decided on : Jan-24-2012

..... andolan (supra), the court was called upon to consider the constitutionality of the indo-mauritius double taxation avoidance convention, 1983. while rejecting the argument that section 90 of the income tax act, under which the treaty is said to have been entered, amounted to delegation of the essential legislative functions, the court observed: the question whether a particular delegated legislation is ..... c. ltd. v. state of karnataka (supra), it cannot be said that the demand made by the bda amounts to levy of tax and is ultra vires article 265 of the constitution. 65. under the 1976 act, the bda is obliged to provide different types of amenities to the population of the bangalore metropolitan area including the allottees of the ..... levied by the corporation within its jurisdiction. (2) the provisions of the karnataka municipal corporations act, 1976 (karnataka act 14 of 1977) shall mutatis mutandis apply to the assessment and collection of property tax. explanation.- for the purpose of this section property tax means a tax simpliciter requiring no service at all and not in the nature of fee inquiring service. 28-c. ..... vested in the corporation; and (b) the drainage, sanitary arrangement and water supply in respect of the streets formed by the authority. 28-b. levy of tax on lands and buildings.- (1) notwithstanding anything contained in this act, the authority may levy a tax on lands or buildings or on both, situated within its jurisdiction (hereinafter referred to as the property .....

Tag this Judgment!

Feb 02 2012 (SC)

Bangalore City Cooperative Housing Society Ltd. Vs. State of Karnataka ...

Court : Supreme Court of India

Decided on : Feb-02-2012

..... declare that the acquisition was not for a public purpose. learned senior counsel relied upon the judgments in m/s. tulasidas khimji v. their workmen (1963) 1 scr 675, third income-tax officer, mangalore v. m. damodar bhat (1969) 2 scr 29, ram sarup v. land acquisition officer (1973) 2 scc 56, sockieting tea co. (p) ltd. v. under secy. to the ..... , the constitution bench considered the question whether the writ petition filed under article 32 of the constitution for refund of the amount forfeited by the sales tax officer under section 21(4) of the bombay sales tax act, which, according to the petitioner, was ultra vires the powers of the state legislature should be entertained ignoring the delay of almost nine years. sikri ..... that even though the petitioner had approached the court with considerable delay, the writ petition filed by it should be allowed because section 12(a)(4) of the bombay sales tax act was declared unconstitutional by the division bench of the high court. bachawat and mitter, jj. opined that the writ petition should be dismissed on the ground of delay. chief justice ..... entered into on this the 21st (twenty first) day of february 1988 between the bangalore city co-operative housing society limited, no.2, seethapathi agrahara, bangalore- 560002, a cooperative societies act, represented by its president and the executive director and hereinafter referred to as the `first party', which term shall mean and include its successors, assigns in office, administrators etc. and .....

Tag this Judgment!

Feb 03 2012 (SC)

Zelia M.Xavier Fernandes E. Gonsalves. Vs. Joana Rodrigues and ors.

Court : Supreme Court of India

Decided on : Feb-03-2012

..... concerns money affairs of husband and wife governed by the provisions contained in articles 1098 and 1108 of portuguese civil code, 1860 (`1860 code') and section 5a of the indian income tax act, 1961 (`income tax act'). 15. articles 1098 and 1108 of the 1860 code which is applicable in the state of goa read as under: 1098. - in the absence of any contract, it is ..... custom of the country consists in the communion between the spouses of all their properties, present and future, not excluded by law. 16. section 5a of the income tax act is as follows : 5a. apportionment of income between spouses governed by portuguese civil code. - (1) where the husband and wife are governed by the system of community of property (known under the portugese civil ..... , by operation of law, unless contracted otherwise, becomes 50% shareholder in all their properties, present and future and each spouse is entitled to a one-half income of the other spouse. 18. section 5a(1) of the income tax act provides that where the husband and wife are governed by the system of communiao dos bens in force in the state of goa the ..... wife from all sources, except from salary, shall be apportioned equally between the husband and the wife and the income so apportioned shall be included separately in the total income of the husband and of the wife respectively and the remaining provisions of the income tax act shall apply accordingly. sub-section (2) of section 5a provides that where the husband or the wife governed .....

Tag this Judgment!

Feb 08 2012 (SC)

Acg Associated Capsules P.Ltd. Vs. C.i.T Central-4 Mumbai

Court : Supreme Court of India

Decided on : Feb-08-2012

..... entire amount received by an assessee on sale of the duty entitlement pass book (for short `the depb') represents profit on transfer of depb under section 28(iiid) of the income tax act, 1961 (for short `the act'). we have already decided this issue in favour of the assessee in a separate judgment in m/s topman exports vs. commissioner of ..... of 2006. 2. the facts of this case very briefly are that bharat rasayan limited (for short `the assessee') filed a return of income tax claiming a deduction of rs.72,76,405/- under section 80hhc of the act. in the assessment order, the assessing officer held that ninety per cent of the gross interest has to be excluded from the profits of ..... the domestic company, shall be taken into account for working out the relief under section 80m of the act. he cited the judgment in commissioner of income-tax v. shri ram honda power equip (supra) in which the delhi high court has taken a view that the word `interest' in explanation (baa) to section 80hhc connotes `net interest' ..... income tax, bombay, and other connected matters and we have held that not the entire amount received by the assessee on sale of depb, but the sale value less the face value .....

Tag this Judgment!

Feb 08 2012 (SC)

Ms Topman Exports Vs. Commr of Income Tax,mumbai

Court : Supreme Court of India

Decided on : Feb-08-2012

..... the tribunal is justified in holding that the entire amount received on the sale of the duty entitlement passbook does not represent profits chargeable under section 28(iiid) of the income tax act, 1961 and that the face value of the duty entitlement passbook shall be deducted from the sale proceeds; (b) whether the tribunal is justified in holding that the face ..... amount received by an assessee on sale of the duty entitlement pass book (for short `the depb') represents profit on transfer of depb under section 28(iiid) of the income tax act, 1961 (for short `the act') for the purpose of the computation of deduction in respect of profits retained for export business under section 80hhc of the ..... followed by the tribunal in all the cases in appeal before us. against the judgment and orders of the tribunal, the commissioner of income tax, mumbai filed appeals in all the cases under section 260a of the act before the high court and by the impugned orders the high court disposed of the appeals in terms of the judgment delivered in commissioner ..... depb will fall under clause (iiib) or under clause (iiid) of section 28. the relevant provisions of section 28 of the act are reproduced hereunder: section 28. profits and gains of business or profession.--the following income shall be chargeable to income-tax under the head profits and gains of business or profession,-- ......................................................................... (iiia) profits on sale of a licence granted under the .....

Tag this Judgment!

Feb 08 2012 (SC)

Vikas Kalra Vs. C.i.T

Court : Supreme Court of India

Decided on : Feb-08-2012

..... in manufacturing and exporting leather garments. for the assessment years 2001-2002 and 2004-2005, the appellant filed returns of income claiming deductions in respect of profits retained for export business under section 80hhc of the income tax act, 1961 (for short `the act'). the assessing officer held in the assessment orders that the entire sale value of duty entitlement pass book (for short ..... `depb') represents profit on transfer of depb under section 28(iiid) of the act and did not allow the amount of deduction claimed by the ..... appellant under section 80hhc. the appellant filed appeals before the commissioner of income tax (appeals) but the commissioner of income tax (appeals) sustained the orders of the assessing officer. the appellant filed appeals before the ..... whether the tribunal was correct in law in ignoring explanation (baa) under section 80hhc of the act which specially excludes profits of depb from total turnover and the high court held that this issue was covered by its judgment in the case of commissioner of income-tax v. shri ram honda power equip [(2007) 289 itr 475 (delhi)]. 5. we have .....

Tag this Judgment!

Feb 21 2012 (FN)

Kawashima Vs. Holder

Court : US Supreme Court

Decided on : Feb-21-2012

..... . scharton, 285 u. s. 518 (1932) , gave congress good reason to doubt that a conviction under 7201 satisfies that condition. in scharton, the defendant was indicted for attempting to evade income taxes by falsely understating his taxable income. the question before the court was whether the crime was subject to the 3-year statute of limitations generally applicable to ..... is not so. rare, indeed; imaginary would be an apt char- acterization. the government conceded that, to its knowledge, there have been no actual instances of indictments for tax evasion unaccompanied by any act of fraud or deceit. tr. of oral arg. 30 31. the canon that statutes should be interpreted to avoid su- perfluity cannot be skirted as easily as the ..... to offenses that involv[e] fraud or deceit meaning offenses with elements that necessarily entail fraudulent or deceitful conduct. when subparagraph (m) was enacted, the term deceit meant a the act or process of deceiving (as by falsification, concealment, or cheating). webster s third new international dictionary 584 (1993). mr. kawashima s conviction under 7206(1) establishes that he knowingly and ..... u. s. c. 1227(a)(2)(a)(iii) ( any alien who is convicted of an aggravated felony at any time after admission is deportable ). [ 2 ] in the immigration and nationality act, congress listed categories of offenses that qualify as aggravated felonies for the purpose of deportation. see 1101(a)(43). here, the government charged the kawashimas with be- ing deportable for .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //