Deduction - Judgment Search Results

Export House Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Amritsar

Reported in: (1985)13ITD687(Asr.)

..... decision of the special bench decided the issue correctly regarding a claim for weighted deduction on expenditure relating to freight clearing and inspection charges and should have been relied ..... to furnish such details 3 the commissioner accordingly passed the impugned order withdrawing the weighted deduction on freight clearing and insurance charges and setting aside the assessment to be remade .....

Commissioner of Income-tax Vs. Madras Motor and General Insurance Co. ...

Court: Chennai

Reported in: (1986)51CTR(Mad)71; [1986]159ITR601(Mad)

..... that the benefit under section 80m should be granted on the gross dividend income without deducting the proportionate management expenses accordingly the question relating to section 80m is answered in ..... the assessee then notwithstanding anything contained in that section for the purpose of computing the deduction under that section the amount of income of that nature as computed in accordance .....

Punjab National Bank Vs. Surtax Officer

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (1985)14ITD450(Delhi)

..... similarly for computing the capital of the assessee for working out the statutory deduction the ito deducted the balances in the contingency reserve account foreign exchange fluctuation reserve account ..... appeals has thereby erroneously excluded the amount transferred to statutory reserves from the deductible amounts of reserves 3 that the learned commissioner appeals has failed to appreciate .....

Fnb Atlanta Vs. County Tax Assessors

Court: US Supreme Court

..... evidence indicating that the difference in cost to the banks between a pro rata deduction and a full deduction is significant enough to prompt banks to forgo the advantages of federal obligations such ..... from gross income interest received on state or municipal obligations and to take a deduction for interest paid on indebtedness except interest paid on indebtedness incurred or continued to purchase .....

Attili Narayana Rao Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Hyderabad

Reported in: (1986)16ITD35(Hyd.)

..... departmental representative contended that only the following items of expenditure are entitled for deduction while computing the capital gains i expenditure incurred wholly and exclusively in connection ..... departmental representative contended that only the following items of expenditure are entitled for deduction while computing the capital gains i expenditure incurred wholly and exclusively in .....

Jeewan Ltd. Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (1986)15ITD14(Mum.)

..... that in view of the provisions of section 80aa providing for deduction under section 80m on the basis of net dividend income ..... of the assessee then notwithstanding anything contained in that section the deduction under that section shall be computed with reference to the ..... expenditure of rs 2 000 requires to be allowed as a deduction however before concluding we would like to observe that the .....

Accountant Member Zainalabdeen Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Cochin

Reported in: (1986)16ITD1a(Coch.)

..... that paragraph would reveal that the provision was allowed as a deduction shri kochunni nair the learned advocate for the assessee contended ..... paid to nutmeat trading co was wrongly considered for weighted deduction in annexure xvii provided in the paper book on behalf ..... in india for the purposes of giving benefit of weighted deduction to the assessee it expressly did so by specifically mentioning .....

Heckler Vs. Turner

Court: US Supreme Court

..... into page 470 u s 204 account these deductions and other deductions not at issue in the instant case the ..... any inference that congress contemplated an additional but unmentioned deduction for tax liabilities the administrative background against which the ..... state agencies attempt realistically to ascertain recipients need already deducted these expenses in determining eligibility and benefit levels as .....

Commissioner of Income-tax Vs. Indian Iron and Steel Co. Ltd.

Court: Kolkata

Reported in: [1985]156ITR314(Cal)

..... dividend income is derived is immaterial for deciding whether the assessee company is entitled to deduction in respect of inter corporate dividends under section 80m section 80m does not postulate that ..... denied to the assessee the assessee company is therefore entitled to the benefit of the deduction under section 80m irrespective of the fact whether the assessee company receives the dividend income .....

Lohia Machines Ltd. and anr. Vs. Union of India (Uoi) and ors.

Court: Supreme Court of India

Reported in: AIR1985SC421; (1985)1CompLJ249(SC); (1985)44CTR(SC)328; [1985]152ITR308(SC); 1985(1)SCALE115; (1985)2SCC197; [1985]2SCR686

..... legislative intent and will that whenever interest payable on borrowed monies is either not deducted or if deducted is added back in computing the total income such borrowed monies are included in ..... of industrial undertakings rules 1949 provided in so many terms that borrowed monies shall be deducted in computing the capital employed for the purpose of section 15c as originally introduced in .....