Deduction - Judgment Search Results

United California Bank Vs. United States

Court: US Supreme Court

..... to the portion relevant to this discussion provides 642 special rules for credits and deductions c deduction for amounts paid or permanently set aside for a charitable purpose in the case ..... or by the noncharitable residual legatees the former allocation would contravene 642 c which permits deduction of charitable set asides without limitation and would indirectly offend the tax exemption extended .....

Commissioner of Income-tax Vs. J.K. Industries (P.) Ltd.

Court: Kolkata

Reported in: [1980]125ITR218(Cal)

..... on capital borrowed for the purpose of acquisition and construction of house property was specifically deductible in computing income from house property under section 24 of the i t act 1961 ..... shall subject to the provisions of sub section 2 be computed after making the following deductions namely vi where the property has been acquired constructed repaired renewed or reconstructed with borrowed .....

Balkrishna Binani Vs. Commissioner of Income Tax

Court: Mumbai

Reported in: (1979)9CTR(Bom)62; [1980]121ITR442(Bom)

..... which would qualify the amount paid as income tax under the provisions as a deduction allowable which deduction fell squarely within the ratio of the supreme court decision in kesoram industries and ..... wto accepted the amounts but when subsequently before the appellate assistant commissioner the assessee claimed deduction on account of the income tax payable on the two amounts the claim was rejected .....

Additional Commissioner of Income-tax, Madras-i Vs. Madras Fertilisers ...

Court: Chennai

Reported in: (1980)13CTR(Mad)261; [1980]122ITR139(Mad)

..... from other sources shall be computed after making the following deductions namely iii any other expenditure not being in the nature ..... allowances discloses that the expenditure or outgoing sought to be deducted should bear a character which has a connection with or ..... effect and ambit of the provisions relating to allowance as deduction can be fully appreciated these provisions are found very often .....

N. Sciandra Vs. Commissioner of Income-tax

Court: Kolkata

Reported in: [1979]118ITR675(Cal)

..... already paid the entire stipulated remuneration to the assessee without any deduction of tax the total income of the assessee was computed ..... heritable properties to pay an annuity of 100 free of all deductions including income tax the trustees thereafter regularly in every year ..... of the tax shown by the certificate to have been deducted on receiving repayment she handed over the amount received to .....

National Engineering Industries Ltd. Vs. Commissioner of Income-tax (C ...

Court: Kolkata

Reported in: [1978]113ITR252(Cal)

..... the assessee also raised another controversy in the appeal contending that deduction of 60 of the dividend of rs 13 780 received ..... income in section 80b the assessee was not entitled to any deduction under section 80m before computation of the total income of ..... with the provisions of the act before making any deductions under chapter via or deductions in respect of annuity deposit paid under section .....

Commissioner of Income-tax Vs. India Tobacco Co. Ltd.

Court: Kolkata

Reported in: [1978]114ITR182(Cal)

..... fact paid and the company contended before the special commissioners that it was an admissible deduction incomputing the company s profits for the purpose of income tax and corporation profits tax ..... periods the company had contended that the premiums were properly chargeable to revenue and were deductible in computing the profits for tax purposes the crown had contended that the premiums were .....

Commissioner of Income-tax Vs. Eyre Smelting P. Ltd.

Court: Kolkata

Reported in: [1978]114ITR51(Cal)

..... company of which he is the principal officer does not deduct or after deducting fails to pay the tax as required by or under ..... along with his salary for the purpose of making deduction at source and such deduction not having been made the assessee was liable for ..... section 200 reads as follows 200 duty of person deducting tax any person deducting any sum in accordance with the provisions of sections .....

Frank Lyon Co. Vs. United States

Court: US Supreme Court

..... completed and the bank took possession petitioner accrued rent from the bank and claimed as deductions depreciation on the building interest on its construction loan and mortgage and other expenses ..... the substance of the agreement between those two parties and rightly concluded that depreciation was deductible by the taxpayer despite the nomenclature of the instrument of conveyance and the lease .....

Bestobell (India) Ltd. Vs. Commissioner of Income-tax

Court: Kolkata

Reported in: [1979]117ITR789(Cal)

..... it could be properly ascertainable and its present value could be fairly discounted would be deductible from the gross receipts while preparing the profit and loss account e edward collins sons ..... also the losses if they are business losses have to be taken into account and deducted in determining the profit therefore the distinction between loss suffered without any immediate disbursement and .....