Profitable - Year 1968 - Judgments

Dec 06 1968 (HC)

Commissioner of Business Profits Tax, Bombay City I Vs. Tata Iron and ...

Court: Mumbai

Decided on: Dec-06-1968

Reported in: [1970]78ITR450(Bom)

..... schedule ii 9 in appeal the appellate assistant commissioner confirmed the decision of the business profits tax officer and held these were amounts received by the assessee from outside parties ..... each year after provision for expenses taxes dividends and reserves to an account headed undivided profits the particular statute under which that allocation had been made under that account also treated .....

Tag this Judgment! Ask ChatGPT

May 07 1968 (HC)

Westward Television Ltd. Vs. Hart (inspector of Taxes).

Court: Kolkata

Decided on: May-07-1968

Reported in: [1969]71ITR489(Cal)

..... prepared for the following periods and disclosed the following figures of profit and loss as adjusted for income tax which were agreed ..... computation and not with relief and therefore that losses included with profits in a computation made under the provisions of the said ..... on the point at issue whether losses which were combined with profits in a calculation made under the provisions of section 155 .....

Tag this Judgment! Ask ChatGPT

Oct 11 1968 (HC)

P.M. Bharucha and Co. Vs. G.S. Venkatesan Income-tax Officer, Circle I ...

Court: Gujarat

Decided on: Oct-11-1968

Reported in: [1969]74ITR513(Guj)

..... same as the business of the partnership what are not profits cannot become profits or gains of that business when an aliquot share of ..... three partners by carrying the share of each in the income profits and gains of the petitioner firm in his individual assessment ..... wholly different where a shareholder receives divided out of the income profits and gains made by the company there the company stands as .....

Tag this Judgment! Ask ChatGPT

Aug 14 1968 (HC)

Management of the K.C.P. Ltd., Central Workshop, Madras 19 Vs. Secreta ...

Court: Chennai

Decided on: Aug-14-1968

Reported in: AIR1969Mad370; [1969(18)FLR52]

..... cases where such department or undertaking or branch prepared and maintained separate balance sheet and profit and loss account in respect of such department or undertaking or branch for any accounting ..... items mentioned in section 6 particularly those sums specified in third schedule from the gross profits the conclusion is irresistible that the benefit of treating a department or undertaking or a .....

Tag this Judgment! Ask ChatGPT

Apr 10 1968 (HC)

Commissioner of Income-tax Vs. Ellerman Lines Ltd.

Court: Kolkata

Decided on: Apr-10-1968

Reported in: [1970]75ITR47(Cal)

..... claimed by the assessee that in determining the ratio of profits to the gross shipping earnings the investment allowance should ..... allowance separately the ratio certificate only mentioned the ratio of profits to the gross earnings after deducting the investment allowance and ..... authorise the income tax officer to determine the ratio of profits afresh after giving a further deduction on account of the .....

Tag this Judgment! Ask ChatGPT

Jun 21 1968 (HC)

Commissioner of Income-tax Vs. Calcutta Landing and Shipping Co. Ltd.

Court: Kolkata

Decided on: Jun-21-1968

Reported in: AIR1969Cal171,[1970]77ITR575(Cal)

..... previously what was expenditure incurred solely for purpose of earning such profits or gains is now an expenditure laid out or expended ..... may be justifiably necessary for increasing the assessee s net profits or for the carrying on of the business with larger ..... other words these expenses enabled the assessee to make its legitimate profits they were therefore laid out wholly and exclusively for the .....

Tag this Judgment! Ask ChatGPT

Nov 08 1968 (HC)

Wisdom Vs. ChamberlaIn (inspector of Taxes).

Court: Kolkata

Decided on: Nov-08-1968

Reported in: [1969]74ITR306(Cal)

..... with the sole object of resale if possible at a profit and a profit as undermentioned was in fact made it was found further ..... in such investments as a business and thereby seeking to make profits there are many companies which in their very inspection are ..... security to protect his client against devaluation and that the actual profit which he realised was fortuitous in my judgment therefore the appeal .....

Tag this Judgment! Ask ChatGPT

Jul 16 1968 (SC)

Sanghvi Jeevraj Ghewar Chand and ors. Vs. Secretary, Madras Chillies, ...

Court: Supreme Court of India

Decided on: Jul-16-1968

Reported in: AIR1969SC530; (1969)ILLJ719SC; [1969]1SCR366

..... surplus available for distribution is to be determined after debiting certain prior charges from gross profits viz 1 provision for depreciation 2 reservation for rehabilitation 3 return of 6 per ..... december 1961 to consider in comprehensive manner the question of payment of bonus based on profits to employees employed in establishments and to make recommendations to the government the commission s .....

Tag this Judgment! Ask ChatGPT

Aug 02 1968 (SC)

Commissioner of Income-tax, U.P. Vs. Jagannath Mahadeo Prasad

Court: Supreme Court of India

Decided on: Aug-02-1968

Reported in: AIR1969SC209; [1969]71ITR296(SC); [1969]1SCR537

..... taken into account except to the extent of the amount of profits and gains it any in any other business consisting of speculative ..... except to the extent that they will be set off against profits and gains in any other business which itself consists of speculative ..... effect of the proviso is that if there are profits in speculative business those profits are added to income under the other heads mentioned .....

Tag this Judgment! Ask ChatGPT

Dec 17 1968 (HC)

Commissioner of Income-tax, Bombay Vs. K.B.H.M.D.H. Bhiwandiwalla and ...

Court: Mumbai

Decided on: Dec-17-1968

Reported in: [1971]79ITR467(Bom)

..... of the business for the stoppage of the working of the profit making apparatus and consequently the aim and object of the ..... the several places was separate and distinct each constituting a separate profit earning apparatus the case before us cannot be equated with ..... purchase and only two years purchase of the net average profits was awarded as compensation the compensation received by the assessee .....

Tag this Judgment! Ask ChatGPT

Profitable - Judgment Search Results