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1 - 10 of 19 (0.25 seconds)Section 32 in The Negotiable Instruments Act, 1881 [Entire Act]
The Income Tax Act, 1961
Section 5 in The Interest-Tax Act, 1974 [Entire Act]
Section 6 in The Interest-Tax Act, 1974 [Entire Act]
The Reserve Bank of India Act, 1934
The Commissioner Of Income Tax-3, ... vs State Bank Of Hyderabad on 24 April, 2015
We have gone through the judgments rendered by various High Courts as
quoted above and are not in conformity with the view of Karnataka and
Punjab and Haryana High Court and we concur with the view of Madhya Pradesh
& Kerala High Court. Recently the Telangana and Andhra Pradesh High Court
also had an occasion to consider the same issue in the case of CIT Vs.
State Bank of Hyderabad: (2014) 367 ITR 128 and after considering the same
issue, as is being examined by this Court and have come to the conclusion
that the amount received after due date is not in the nature of interest.
Commnr. Of Income Tax, Kanpur vs M/S.Sahara India ... on 24 November, 2009
“Section 2(5) defines “chargeable interest” to mean total amount of
interest referred to in Section 5, computed in the manner laid down in
Section 6. In other words, the “scope of chargeable interest” is defined
under Section 5 whereas “computation of chargeable interest” is under
Section 6. Section 2(7) is the heart of the matter as far as the present
case is concerned.
Section 2 in The Interest-Tax Act, 1974 [Entire Act]
The Punjab Land Development And ... vs Presiding Officer, Labour Court, U.T. ... on 28 September, 2000
“A particular expression is often defined by the Legislature by using the
word ‘means’ or the word ‘includes’. Sometimes the words ‘means and
includes’ are used. The use of the word ‘means’ indicates that “definition
is a hard-and-fast definition, and no other meaning can be assigned to the
expression than is put down in definition”. (See : Gough v. Gough [(1891) 2
QB 665 : 60 LJ QB 726] ; Punjab Land Development and Reclamation Corpn.
Ltd. v. Presiding Officer, Labour Court [(1990) 3 SCC 682, 717 : 1991 SCC
(L&S) 71] .) The word ‘includes’ when used, enlarges the meaning of the
expression defined so as to comprehend not only such things as they signify
according to their natural import but also those things which the clause
declares that they shall include. The words “means and includes”, on the
other hand, indicate “an exhaustive explanation of the meaning which, for
the purposes of the Act, must invariably be attached to these words or
expressions”.