Profitable - Year 1987 - Judgments

Mar 13 1987 (SC)

Commissioner of Excess Profit Tax, Kanpur Vs. Kalyan Mal Phool Chand

Court: Supreme Court of India

Decided on: Mar-13-1987

Reported in: AIR1987SC2140; [1987]166ITR180(SC); 1987(1)SCALE563; (1987)2SCC458; [1987]2SCR601; 1987(1)LC721(SC)

..... activity leading to the production of finished article which was subsequently sold contributed to the profits realised according to the high court it mattered little whether or not the manufacturing ..... occupied with manufacturing activity alone and there were no sales therefore no part of the profits realised upon the sales could be apportioned to those chargeable accounting periods and consequently .....

Tag this Judgment! Ask ChatGPT

Nov 09 1987 (TRI)

Swastik Household and Industrial Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Mumbai

Decided on: Nov-09-1987

Reported in: (1988)25ITD479(Mum.)

..... considered and not any individual assets leading to capital gains or profit under section 41 2 dealing with certain passages and the ..... apart therefore from even a goodwill worked out on the super profit method substantial value will have to be ascribed to these intellectual ..... apart therefore from even a goodwill worked out on the super profit method substantial value will have to be ascribed to these .....

Tag this Judgment! Ask ChatGPT

Sep 29 1987 (TRI)

Commissioner of Wealth-tax Vs. Shyam Mohan Rawat

Court: Income Tax Appellate Tribunal ITAT Jaipur

Decided on: Sep-29-1987

Reported in: (1988)25ITD105(JP.)

..... been arrived at by reducing a particular percentage of expected profit from the sale price realised on similar items in the ..... market price on the relevant accounting date consequently the gross profit would ordinarily be less than the margin between the cost ..... the closing stock at a particular figure the rate of gross profit shown by the trading account does not necessarily conclusively demonstrate .....

Tag this Judgment! Ask ChatGPT

Sep 23 1987 (TRI)

inspecting Assistant Vs. Bareilly Corpn. Bank

Court: Income Tax Appellate Tribunal ITAT Delhi

Decided on: Sep-23-1987

Reported in: (1988)27ITD1a(Delhi)

..... the assessee during this previous year and this amount was thus added to his taxable profits the assessee appealed to the appellate assistant commissioner and the tribunal but unsuccessfully thereupon on ..... accounting unless of course such principles have been superseded or modified by legislative enactments unrealised profits in the shape of appreciated value of goods remaining unsold at the end of .....

Tag this Judgment! Ask ChatGPT

Oct 14 1987 (TRI)

M.B.S. Purushotham Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Hyderabad

Decided on: Oct-14-1987

Reported in: (1988)26ITD520(Hyd.)

..... to be taken and while doing so the outgoings cannot be included in the accumulated profits the learned departmental representative submitted that the amounts spent for plant and machinery is a ..... distributed as dividends is judged by business considerations such as the previous losses the present profits the availability of surplus money and the reasonable requirements of the future and similar others .....

Tag this Judgment! Ask ChatGPT

Jan 27 1987 (TRI)

Sachdeva Fancy Store Vs. Income-tax Officer

Court: Income Tax Appellate Tribunal ITAT Amritsar

Decided on: Jan-27-1987

Reported in: (1987)21ITD288(Asr.)

..... a certain relation between persons the product of agreement to share the profits of a business firm is a collective noun a compendious expression ..... or decreased respectively by his share in the balance of the profit or loss of the firm after the deduction of any interest ..... in the case of the firm was nothing but sharing of profits and that principle had been statutorily incorporated in section 40 b .....

Tag this Judgment! Ask ChatGPT

May 28 1987 (TRI)

income-tax Officer Vs. Metazinc (P.) Ltd.

Court: Income Tax Appellate Tribunal ITAT Mumbai

Decided on: May-28-1987

Reported in: (1987)22ITD414(Mum.)

..... not constitute reserves in the computation of capital under the second schedule to the companies profits surtax act 1964 the learned counsel for the assessee company shri pardiwala submitted to us ..... reserves and consequently included in the capital computation under the second schedule to the companies profits surtax act 1964 was admissible and was wrongly not allowed by the revenue authorities 9 .....

Tag this Judgment! Ask ChatGPT

May 15 1987 (TRI)

income-tax Officer Vs. Gimret and Co.

Court: Income Tax Appellate Tribunal ITAT Delhi

Decided on: May-15-1987

Reported in: (1987)22ITD407(Delhi)

..... the change in fortunes of the business of course sharing of profits is a very important element and a strong circumstance to establish ..... partnership from the fact of there being provision for participation of profit in the agreement and then to inquire if the remaining ..... that if unequal shares are admitted by the partners as to profits that applies equally to losses similar observations were made by .....

Tag this Judgment! Ask ChatGPT

Jul 10 1987 (TRI)

Sirhind Steel (P.) Ltd. Vs. Inspecting Assistant

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Decided on: Jul-10-1987

Reported in: (1987)23ITD331(Ahd.)

..... the assessee s business was subject to wide fluctuations and substantial profit in subsequent years was not a ground for disallowing a ..... 82 in the year immediately preceding the firm had earned profit of rs 31 lakhs the business was expanding steadily hence ..... one would have reasonably expected higher profit in the subsequent years by retiring from the firm the .....

Tag this Judgment! Ask ChatGPT

Jan 23 1987 (HC)

Commissioner of Income-tax Vs. Navabharat Enterprises (P.) Ltd.

Court: Andhra Pradesh

Decided on: Jan-23-1987

Reported in: (1987)62CTR(AP)189; [1988]170ITR332(AP)

..... shall be allowed in computing the income chargeable under the head profits and gains of business or profession 2 notwithstanding anything contained ..... in the manner aforesaid iv on the balance of the profits and nil gains of the business or profession computedin the ..... publisher to informants and contributors is deductible in computing the profits under section 15 of the finance act 1965 to the .....

Tag this Judgment! Ask ChatGPT

Profitable - Judgment Search Results