Earned Surplus - Judgment Search Results

Edwards Vs. Douglas

Court: US Supreme Court

..... in dividends during that year footnote 2 but which had no earned surplus at the close of their fiscal year on december page 269 ..... u s 210 31 1916 or whose earned surplus consisted wholly of profits earned prior to march 1 1913 the douglas estate grafts ..... 3 defines invested capital as including paid in or earned surplus and undivided profits used or employed in the business exclusive of .....

The Commissioner of Income-tax (Central), Calcutta Vs. Standard Vacuum ...

Court: Supreme Court of India

Reported in: AIR1966SC1393; (1966)1CompLJ187(SC); [1966]59ITR685(SC); [1966]2SCR367

..... appropriations were shown in the balance sheet under the caption earned surplus or earning reinvested at the end of 1945 the balance of earned surplus was 29 557 597 and by the end of 1948 ..... disallowed the claim of the assessee company for inclusion of the accounts capital paid in surplus and earned surplus in the computation of taxable capital under sch ii r 2 1 of the .....

Assistant Commissioner Of Income Tax (exemptions) Vs. Ahmedabad Urban ...

Court: Supreme Court of India

..... is the test of predominant character of the activity and not that an institution incidentally earns surplus or profit 78 mr arvind datar learned senior counsel appeared on behalf of the ..... have already been spent on various infrastructure development and other capital expenditure items the surplus amounts remaining were invested in government securities fds of nationalized banks so the demands .....

Commissioner of Income-tax, Central, CalcuttA. Vs. Standard Vacuum Oil ...

Court: Kolkata

Reported in: [1963]47ITR642(Cal)

..... century spinning manufacturing co s case to negative the contention of the assessee that the earned surplus constituted a reserve before the appellate assistant commissioner the assessee pointed out that in ..... of schedule ii and hence to be considered in computing the average capital further the earned surplus disclosed in the various accounting years should be treated as reserves within the meaning .....

international Harvester Co. Vs. Department of Taxation

Court: US Supreme Court

..... but once received they became capital funds in the sense that earned surplus becomes capital when they were distributed they were not income of ..... 444 3 though the dividends were paid in part from corporate surplus earned prior to the enactment of the tax statute the taxable ..... urged that some of them at least were paid from corporate surplus earned and set aside in years before the taxing statute was .....

ivan Allen Co. Vs. United States

Court: US Supreme Court

..... by the payment of dividends which normally are declared and paid only out of current earnings or earned surplus determined in accordance with sound accounting practice absent authorization in a statute or corporate ..... model business corporation act allowing payment of cash or property dividends only out of earned surplus or current earnings ga code ann 22 511 a 1 1970 model bus corp act 45 a .....

Commissioner of Income-tax, Delhi-ii Vs. Coca Cola Export Corporation

Court: Delhi

Reported in: [1981]127ITR567(Delhi)

..... year subject to certain appropriations were shown in the balance sheet under the caption earned surplus the balance of earned surplus was 29 557 597 at the end of 1945 it progressively increased thereafter ..... which we are concerned in the present case was whether the capital paid in surplus and the earned surplus were reserve within the meaning of r 2 1 of the schedule their lordships .....

Commissioner of Income-tax, Gujarat-i Vs. Mafatlal Chandulal and Co. L ...

Court: Gujarat

Reported in: [1977]107ITR489(Guj)

..... were shown in the balance sheet under the capital earned surplus the balance of earned surplus was 29 557 597 at the end of 1945 ..... act of 1947 and ii whether the capital paid in surplus and the earned surplus were reserves within the meaning of the rule 2 1 ..... carried also retained its identity year after year therefore the earned surplus could not be regarded as mere unallocated profits but represented .....

Dunlop India Ltd. Vs. Commissioner of Income-tax

Court: Kolkata

Reported in: [1983]141ITR542(Cal)

..... subject to certain appropriations were shown in the balance sheet under the caption earned surplus the balance of earned surplus was 29 657 597 at the end of 1945 it progressively increased thereafter ..... application in extending the business of the assessee company the amounts entered in the account earned surplus cannot therefore be regarded as mere unallocated profits at the end of the accounting .....

Commissioner of Income-tax Vs. Karamchand Premchand Pvt. Ltd.

Court: Gujarat

Reported in: (1992)107CTR(Guj)340; [1993]200ITR281(Guj)

..... the former are unusual expense including losses the latter transactions with stockholders or an earn marking of earned surplus in british practice appropriations also include direct i e income taxes see income deduction ..... or the transfer of net income or the balance of net income to earned surplus retained earnings among corporate enterprises there is some difference of opinion as to what items are .....