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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: supreme court of india Year: 2012 Page 1 of about 80 results (0.090 seconds)

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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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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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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Aug 21 2012 (SC)

Vidur Impex and Traders Pvt. Ltd. and Others. Vs. Tosh Apartments Pvt. ...

Court : Supreme Court of India

Decided on : Aug-21-2012

..... 48 lacs each keeping the same below the prescribed limit of rs.50 lacs with a fraudulent intent to avoid the application of chapter xx-c of the income-tax act.(e) on coming to know of the aforesaid sale transactions, the plaintiff filed application under order xxxix rule 1 & 2 cpc for restraining the defendant ..... he further pleaded that the agreement was void and unenforceable because the requisite permission had not been obtained under section 269 uc of the income-tax act. respondent no.2 also filed suit no. 161/1999 for grant of a declaration that sale deeds executed in favour of the appellants ..... terms as the court deems fit to impose. in exercising its judicial discretion under order 1 rule 10(2) of the code, the court will of course act according to reason and fair play and not according to whims and caprice. (emphasis supplied)29. in kasturi v. iyyamperumal (supra), this court considered the ..... .l (since deceased).(g) though there was restraint order against defendant nos. 4 to 9, i.e. vidur impex & traders and others, not to act upon the impugned sale deeds, they entered into agreement dated 18.3.1997 for transfer of their purported rights and interest in the suit property in favour of ..... in the suit filed by respondent no.1. the appellants also invoked the doctrine of lis pendens embodied in section 52 of the transfer of property act, 1882 and pleaded that having purchased the property during the pendency of the suit by respondent no.1, they have acquired the right to contest the .....

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Jul 10 2012 (SC)

NitIn Gunwant Shah Vs. Indian Bank and ors.

Court : Supreme Court of India

Decided on : Jul-10-2012

..... the eviction of such persons in an appropriate case where it is found that the person in possession is not legally entitled for the same[8]. the rules under the income tax act which are adopted for the purpose of the recovery of debts due to the financial institution and banks under the 1993act also provide a similar authority of law. the law ..... that any reference under the said provisions and the rules to the "assessee" shall be construed as a reference to the defendant under this act.31. "the second schedule of the income tax act read with the income tax certificate proceedings rules, 1962, for short 'the 1962 rules', prescribe the procedure for recovery of the amounts due pursuant to a certificate issued under section 222 ..... 1993 declares that the provisions of the second and third schedule of income tax act, 1961 apply with necessary modifications for the recovery of the amounts due under the act 51 of 1993.1 "29 application of certain provisions of income-tax act the provisions of the second and third schedules to the income- tax act, 1961 and the income-tax (certificate proceedings) rules, 1962 , as in force from time to ..... of the income tax act. part iii of the second schedule prescribes the procedure for the attachment and sale of immovable property. rule 92 thereof enables the making of the rules. in the purported .....

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May 08 2012 (SC)

Narinderjit Singh Vs. North Star Estate Promoters Ltd.

Court : Supreme Court of India

Decided on : May-08-2012

..... his obligation by not extending cooperation in obtaining colonization licence from punjab urban development authority and itc certificate under section 34-a of the income tax act.4. in the joint written statement filed by the appellant and his father, the locus standi of the respondent to file the suit ..... court found that the appellant was dabbling in real estate transaction without means to purchase the property and observed: "section 16(c) of the act envisages that plaintiff must plead and prove that he had performed or has always been ready and willing to perform the essential terms of the contract ..... because the latter failed to get the requisite licence and any violation of the provisions of the act would have amounted to an offence.11. shri dushyant dave, learned senior counsel for the respondent supported the impugned judgment and argued that ..... v. a. ramadas rao (2011) 1 scc429. in the end, shri gupta referred to the provisions of the punjab apartment and property regulation act, 1995 and submitted that the appellant did not hand over possession of the suit property to the respondent for the purpose of development of residential colony ..... appellate court that the trial court was not justified in invoking the provisions of section 20 (2) (c) of the specific relief act, 1963 (for short, 'the act') for the purpose of declining substantive relief to the respondent. the learned single judge relied upon the judgments of this court in k. .....

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May 01 2012 (SC)

General Officer Commanding Vs. Cbi and anr.

Court : Supreme Court of India

Decided on : May-01-2012

..... for the reason that there may be a "legal proceeding" which may not be judicial at all, e.g. statutory remedies like assessment under income tax act, sales tax act, arbitration proceedings etc. so, the ambit of expression "legal proceedings" is much wider than "judicial proceedings". the expression "legal proceeding" is to ..... in m/s. lakshmiratan engineering works ltd. v. asst. commissioner (judicial) i, sales tax, kanpur range, kanpur & anr., air 1968 sc 488, this court dealt with the provisions of u.p. sales tax act, 1948 and rules made under it and while interpreting the proviso to section 9 thereof, which ..... provided the mode of filing the appeal and further provided that appeal could be "entertained" on depositing a part of the assessed/admitted amount of tax. the question ..... that in the context of the said act it would mean "admit for consideration". mere filing or presentation or receiving the memorandum of appeal was inconsequential. the provisions provided that the appeal filed would not be admitted for consideration unless the required tax was deposited.15. in lala ram v ..... is not removable from his office save by or with the sanction of the central government, of that government.7. protection to persons acting under act.- no prosecution, suit or other legal proceeding shall be instituted, except with the previous sanction of the central government, against any person .....

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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 .....

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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 .....

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