Profitable - Year 1979 - Judgments

Jan 09 1979 (HC)

Ramchandra Lalbhai Banker (Huf) Vs. Commissioner of Income-tax/Excess ...

Court: Mumbai

Decided on: Jan-09-1979

Reported in: [1979]120ITR704A(Bom)

..... the income tax investigation commission on account of suspected concealment of profits during the war period the cases of the hufs of ..... we are not concerned with the merits of the figures of profits determined in respect of the several transactions but one of ..... hufs thus according to the tribunal the opportunities for making extra profits which the control of the managing agency co provided to .....

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Mar 18 1979 (HC)

Binod Mills Co. Ltd. Vs. S.A. Kadre, Excess Profits Tax Officer and or ...

Court: Mumbai

Decided on: Mar-18-1979

Reported in: [1980]122ITR778(Bom); [1979]2TAXMAN470(Bom)

..... of cotton textile goods the petitioner was assessed under the excess profits tax act 1940 hereinafter referred to as the act and ..... the appeal and directed the 1st respondent to determine the profit that accrued in the taxable territories as determined by the ..... petitions direct taxation interest sections 14 and 14a 7 of excess profits tax act 1940 whether petitioner entitled to interest on amount .....

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Nov 05 1979 (HC)

Mohamed Habibullah Vs. Rahimath Beevi

Court: Chennai

Decided on: Nov-05-1979

Reported in: (1980)1MLJ436

..... final decree is passed thereafter the court had no jurisdiction to equire into the mesne profits certainly notwithstanding there being no provision made in the preliminary decree the petitioner could ..... the court has become functus officio and that therefore the application for ascertainment of mesne profits cannot be entertained the learned counsel seeks support for his above contention from some .....

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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)

..... be computed after allowing all admissible deductions and allowances including development rebate and thus the profits and gains attributable to priority industries which are included in or form part of ..... section 80e secondly ascertain what part of the total income so computed represents the profits and gains attributable to the business of the specified industry here generation and distribution .....

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Mar 19 1979 (HC)

Satya Sindhu Pandey Vs. Mohammad Shual Islam and ors.

Court: Allahabad

Decided on: Mar-19-1979

Reported in: AIR1980All69

..... 1970 apart from the pen dente lite and future mesne profits mesne profits for the last three years at the rate of rs ..... therefore the defendant appellant would be liable for payment of mesne profits in respect of the entire accommodation this finding has not ..... to reasonable rent defined under section 2 f while claiming mesne profits against an unauthorised occupant or trespasser obviously there is no .....

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Nov 29 1979 (HC)

Baroda Rayon Corpo. Ltd. Vs. Hanumansingh Jagnarayansingh

Court: Gujarat

Decided on: Nov-29-1979

Reported in: (1980)21GLR633

..... loss account after deducting depreciation say by following the straightliae method of calculating depreciation the profit shown accordingly in the record of the employer would not be determinative see central ..... is followed even while adjusting depreciation allowances during the previous accounting years and the profits or losses have been ascertained on that basis that would also not be conclusive .....

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Feb 27 1979 (HC)

Commissioner of Income-tax Vs. Andhra Prabha P. Ltd.

Court: Chennai

Decided on: Feb-27-1979

Reported in: (1980)14CTR(Mad)269; [1980]123ITR760(Mad)

..... the computation contending that the company hadwrongly reduced the gross profits and the available surplus and that the amounts should be ..... not payable the company claimed as against each year s profits certain amounts as and by way of provision for retirement ..... satisfy a specific provision falls back on thegeneral concept of profits in these circumstances the assessee would be eligible for the .....

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Jan 11 1979 (HC)

Waterfall Estates Ltd. Vs. Commissioner of Income-tax (No. 1)

Court: Chennai

Decided on: Jan-11-1979

Reported in: (1980)16CTR(Mad)279; [1981]131ITR207(Mad)

..... agency commission payable worked out to 9 63 of the net profits and he therefore took that percentage as the managing agency ..... and sold the govt securities including mysore govt securities and the profits and losses on the purchase and sale of such securities ..... to the learned counsel were maintained at different centres no separate profit and loss account was prepared for any of the different .....

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Mar 27 1979 (HC)

Indian Aluminium Co. Ltd. Vs. Commissioner of Income-tax, West Bengal- ...

Court: Kolkata

Decided on: Mar-27-1979

Reported in: [1980]122ITR660(Cal)

..... p 93 as regards the aspect emerging from the expression attributable to occurring the phrase profits and gains attributable to the business of the specified industry here generation and distribution of ..... balancing charge arising from the sale of old machinery and buildings cannot be regarded as profits and gains derived from the conduct of the business of generation and distribution of electricity .....

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Nov 14 1979 (HC)

Garden Reach Workshop Ltd. Vs. Commissioner of Income-tax

Court: Kolkata

Decided on: Nov-14-1979

Reported in: [1981]132ITR814(Cal)

..... work in progress is stated in periodic financial statements should be cost plus any attributable profit less any foreseeable losses and progress payments received and receivable if however anticipated losses on ..... consistently over a long period the tax authorities have made assessments on the basis of profits earned on or losses sufferred in completed contracts only the position with regard to .....

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