Deduction - Year 1979 - Judgments

Aug 16 1979 (HC)

Jiyajeerao Cotton Mills Ltd. Vs. Income-tax Officer, c Ward and ors.

Court: Kolkata

Decided on: Aug-16-1979

Reported in: [1981]130ITR710(Cal)

..... provisions clearly show that the total income has to be computed after allowing all admissible deductions and allowances including development rebate and thus the profits and gains attributable to priority ..... but were the net or taxable profits or gains computed after allowing all allowable deductions and rebates including the development rebate but without allowing the special rebate tinder para .....

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Oct 01 1979 (TRI)

income-tax Officer Vs. Vickers Sperry of India

Court: Income Tax Appellate Tribunal ITAT Mumbai

Decided on: Oct-01-1979

Reported in: (1983)3ITD739(Mum.)

..... depreciation it was argued that section 35 provided a complete code for all allowances or deductions regarding expenditure on scientific research and therefore when depreciation was not specifically provided for ..... 1967 the whole of such capital expenditure incurred in any previous year shall be deducted for that previous year explanation where any capital expenditure has been incurred before the .....

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Jun 12 1979 (TRI)

Soft Beverages (P.) Ltd. Vs. Second Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Madras

Decided on: Jun-12-1979

Reported in: (1983)3ITD686(Mad.)

..... the business we will confine only to those relating to deductions deductions take shape by way of expenditure losses and statutory allowances ..... following the mercantile system of accounting is entitled to claim deduction for a liability created by the statute namely the ..... the books of account by taxpayers would also qualify for deduction this is clearly not the intention since the employer continues .....

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May 03 1979 (SC)

Sassoon J. David and Co. Pvt. Ltd., Bombay Vs. C.i.T., Bombay

Court: Supreme Court of India

Decided on: May-03-1979

Reported in: AIR1979SC1441; (1979)10CTR(SC)383; [1979]118ITR261(SC); (1979)3SCC524; [1979]3SCR878; 1979(11)LC566(SC)

..... that the company paid retrenchment compensation according to the said resolution and that the tatas deducted from the purchase price the sum payable by the company in accordance with the ..... were made primarily for the benefit of that company the commissioners however decided that the deductions claimed were allowable upholding the findings of the commissioners the lord president observed at page .....

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Aug 02 1979 (HC)

Sheveroy Estates Ltd. Vs. Government of Tamil Nadu

Court: Chennai

Decided on: Aug-02-1979

Reported in: [1981]132ITR214(Mad)

..... to get a double advantage by way of getting deduction for an expenditure already deducted a change which is otherwise bona fide cannot ..... v high land produce co ltd 1976 102itr803 ker that the deductions were permissible in respect of the liability for gratuity arising ..... estimated actuarially could be added to the reserve and claimed as deduction so far as the actual payments are concerned they would .....

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Jan 25 1979 (HC)

Albert David Ltd. Vs. Commissioner of Income-tax

Court: Kolkata

Decided on: Jan-25-1979

Reported in: [1981]131ITR192(Cal)

..... expenditure in starting and prosecuting the proceeding may not be denied admission as a permissible deduction in computing the taxable income merely because the proceeding has failed if otherwise the ..... of income investigation commission act 1947 the question arose whether such expenses should be deducted in computing the business profits of the assessee the supreme court observed inter alia .....

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Oct 10 1979 (HC)

Commissioner of Income-tax Vs. Patiala Flour Mills Co. P. Ltd.

Court: Punjab and Haryana

Decided on: Oct-10-1979

Reported in: (1980)14CTR(P& H)102; [1981]127ITR301(P& H)

..... profits and gains from a newly established industrial undertaking are to be allowed if the deductions as are permissible as depreciation or development rebate have already been adjusted against the profits ..... industrial undertaking in the facts of the present case the ito himself in the computation deducted the entire development rebate allowance in respect of the entire business carried on by the .....

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Nov 14 1979 (HC)

Commissioner of Income-tax, Tamil Nadu-v Vs. Sri Ranilakshmi Ginning, ...

Court: Chennai

Decided on: Nov-14-1979

Reported in: [1981]132ITR360(Mad)

..... to the earlier period of service cannot be allowed as deduction in this year the assessee has been maintaining its accounts ..... basis this contention was accepted and the amount was allowed as deduction the question raised before this court on reference was whether ..... answered in the affirmative and the assessee is entitled to the deduction of the the estimated gratuity payable to its employees arrived .....

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Mar 15 1979 (HC)

Mohan MeakIn Breweries Ltd. Vs. Commissioner of Income-tax (No. 2)

Court: Himachal Pradesh

Decided on: Mar-15-1979

Reported in: [1979]118ITR300(HP)

..... shares within india the assessee shall be entitled to a deduction from the income tax with which it is chargeable on ..... or any other expression which would imply or justify a deduction of proportionate expenditure it was held that the proportionate management ..... profit computed for purpose of the i t act after necessary deductions and adjustments would nevertheless be amenable for reduction of gross .....

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Jun 28 1979 (HC)

C.T. Desai Vs. Commissioner of Income-tax, Karnataka

Court: Karnataka

Decided on: Jun-28-1979

Reported in: [1979]120ITR240(KAR); [1979]120ITR240(Karn)

..... of the assessee in essence was only distribution having said so the tribunal held that deduction of interest on capital borrowed for business of exhibition cannot be permitted obviously the ..... to tax is agricultural income and not agricultural receipts from the agricultural receipts must be deducted all expenses which in ordinary commercial accounting must be debited against the receipts there is .....

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