Allocable Surplus - Judgment Search Results

Mysore Lamp Works Ltd. Vs. Commissioner of Income-tax

Court: Karnataka

Reported in: (1990)84CTR(Kar)221; [1990]185ITR96(KAR); [1990]185ITR96(Karn); [1990]52TAXMAN260(Kar)

..... in the fourth schedule 2 where for any accounting year there is no available surplus or the allocable surplus in respect of that year falls short of the amount of minimum bonus payable ..... the very provision is attracted only in case there is an allocable surplus during a particular accounting year if the said allocable surplus exceeds the payment of the maximum bonus payable under section 11 .....

Commissioner of Income-tax Vs. Hindusthan Co-operative Insurance Socie ...

Court: Kolkata

Reported in: [1993]201ITR716(Cal)

..... said schedule provided as follows twenty times the annual average of the share of the surplus allocated to shareholders as disclosed in the abstracts aforesaid in respect of the relevant actuarial investigations ..... insurance company will inter alia depend upon the annual average of the share of the surplus allocated to the shareholders that is the rule for valuation of the compensation payable the .....

M.K. Kuppuraj Vs. Assistant Commissioner of

Court: Income Tax Appellate Tribunal ITAT Madras

Reported in: (1990)35ITD275(Mad.)

..... following principles i on dissolution of a partnership firm the allocation of surplus cash or assets amongst the partners corresponding or approximate to ..... tax act in other words to the extent of the property allocated corresponding or approximate to the share of a partner it is ..... involving a transfer but to the extent of the excess assets allocated to one partner at the expense of the other it must .....

Commissioner of Income-tax Vs. Panchayati Akhara Nirmal

Court: Allahabad

Reported in: [1991]190ITR121(All)

..... happened which means that the amount applied towards specified purpose has necessarily got to be allocated in an appropriate proportion between agricultural and non agricultural income and then the rule contained ..... amount spent on religious charitable purposes and found that for both the assessment years no surplus was left and hence no question of assessment to income tax arose accordingly he .....

Palmer Vs. Brg of Georgia, Inc.

Court: US Supreme Court

..... reference to price and because it had failed to recognize that allocation rather than subdivision of markets could also constitute a per ..... to prove a per se violation under a geographic market allocation theory petitioners had to show that respondents had subdivided some ..... an agreement among competitors to engage in a program of buying surplus gasoline on the spot market in order to prevent prices .....

Goodricke Group Ltd. (No. 1) (Successors-in-interest to Hope Tea Co. L ...

Court: Kolkata

Reported in: [1993]201ITR261(Cal)

..... business and not from the gross total income arrived at after allocation of 40 per cent of the income from tea business before ..... k periodically for payment of dividends to the foreign shareholders any surplus remaining after such distribution in the united kingdom was invested during ..... of the assessee and deductible in the instant case also the surplus profits were remitted to the head office in the u k .....

income-tax Officer Vs. Pratik Prints

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (1991)37ITD159(Ahd.)

..... investment allowance granted to the assessee cannot be withdrawn where the assets and liabilities are allocated allotted or distributed amongst the partners upon dissolution of a firm and has been held ..... under section 34 3 b r w s 155 5 of income tax act because surplus assets of the partnership are distributed amongst the partners on the dissolution of the firm .....

Guvala China Venkatesu and Another Vs. State of Andhra Pradesh

Court: Supreme Court of India

Reported in: AIR1991SC1926; 1991CriLJ2326; 1991Supp(2)SCC727

..... was still undecided this circumstance coupled with the absence of clear allocation of posts made it impossible for the promotees to lay claim ..... he the 73 spill over appointments were made there were no allocated or earmarked posts to which those promotees could have been ..... of selection by promotion from grade iii class ii service any surplus vacancies which could not be filled by promotion for want of .....

A.P. State Civil Supplies Corpn. Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Hyderabad

Reported in: (1991)37ITD1a(Hyd.)

..... department and the corporation cannot deal with those incomes except to allocate and pay the same to the fund when and how actually ..... authority denied the exemption was with regard to the distribution of surplus in the even of winding up of the corporation sri ..... fund department of civil supplies government of a p and whatever surplus accrued to the assessee as a result of its activities really .....

Dynavision Ltd. Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Madras

Reported in: (1991)36ITD1a(Mad.)

..... under separate industrial licence is issued for this purpose we have allocated a separate shop floor and are producing colour television sets ..... this position before the de partmental authorities in a note on allocation of interest to black and white television division at page ..... not really questioned that the practice has been to use the surplus income for the purposes of the association and that the .....