Wealth Tax Act

The petitioners challenged a show‑cause notice issued under the Gold Control Rules, arguing that it should not survive the repeal of the Gold (Control) Act, 1968 by the Gold (Control) Repeal Act, 1990. The central issue was whether a repeal simpliciter without an explicit saving clause automatically invokes Section 6 o…

The Punjab State Electricity Board recruited 21 Accounts Officers by direct recruitment, reserving seats for candidates from the backward class. Surinder Singh, a Chartered Accountant, secured 164 marks and was appointed under the backward‑class reservation. Respondent Anil Kumar Uppal challenged the appointment, alleg…

The Gujarat Commissioner of Wealth Tax appealed against a decision allowing Shri Vadilal Mehta to deduct certain tax liabilities in computing his net wealth for the 1964-65 wealth‑tax assessment year. The assessee sought deductions for income‑tax, wealth‑tax and gift‑tax liabilities that were quantified by assessment o…

The assessee, Gold Coin Health Food Pvt. Ltd., filed a return showing a loss. The Income Tax Department levied a penalty under Section 271(1)(c) of the Income Tax Act, 1961, alleging concealment of income. The issues were whether the term “income” includes losses, whether the penalty can be imposed when the returned fi…

The ex‑Ruler of the former Holkar State sold two pieces of heirloom jewellery in the assessment year 1972‑73 and claimed that the proceeds were not taxable because the jewellery were "personal effects" within the meaning of Section 2(14) of the Income‑Tax Act, 1961. The Tribunal rejected this contention, but the Madhya…

The assessee sought to deduct wealth‑tax liabilities of Rs 22,679 (assessment year 1960‑61) and Rs 39,692 (assessment year 1961‑62) while computing net wealth for the valuation dates of 31 March 1961 and 31 March 1962. The Wealth Tax Officer rejected the claim, the Appellate Assistant Commissioner allowed part of it, a…

The appellants, a partnership firm, were searched under section 132 of the Income‑Tax Act on 28 October 1975 and cash, jewellery, diamonds and books of account were seized. On 31 December 1975 they filed a declaration of concealed income under section 3(1) of the Voluntary Disclosure of Income and Wealth Ordinance/Act …

The assessees, a private limited investment company, claimed that the value of their shares should be determined by the profit‑earning method prepared by chartered accountants, while the Gift Tax and Wealth Tax officers used the break‑up method, resulting in a higher tax liability. The Tribunal accepted the profit‑earn…

The petitioners challenged the criteria adopted by the States of Bihar and Uttar Pradesh for identifying the 'creamy layer' to be excluded from reservation benefits under Articles 14 and 16(4) of the Constitution. Both states had introduced multiple conditions – such as a minimum salary of Rs.10,000 per month, a gradua…