Profitable - Judgment Search Results

Asstt. Cit Vs. Gautam Sarabhai Trust No. 23

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2002)75TTJ(Ahd.)151

..... of the share capital as above would not be covered under the expression accumulated profits or capitalised profits for the purposes of section 2 22 d while discussing the legal implications and ..... are separate independent entities cannot by any stretch of imagination be treated as accumulated profits or capitalised profits of the amalgamated company i e aipl after the amalgamation on this ground also .....

United Phosphorus Ltd. Vs. Joint Commissioner of Income-tax

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2002)81ITD553(Ahd.)

..... considerations governing the selection and application of accounting policies is prudence according to which profits are not anticipated but recognised only when realised in view of the uncertainty attached ..... allowable under it act verification of advance licence benefit on accrual basis included in the profits of such industrial undertakings will be made by the assessing officer by providing an .....

thermax Babcock and Wilcox Ltd. Vs. Deputy Commissioner of

Court: Income Tax Appellate Tribunal ITAT Pune

..... case the contract is at least 1 4 complete a certain proportion of realised profit that is profit revealed by the contract less the percentage of retention money should be transferred to ..... though decided under the new zealand income tax act supports the principle of measurement of profit on accepted trading principles and generally accepted accounting principles thus unless the statute expressly or .....

thermax Babcock and Wilcox Ltd. Vs. Dy. Cit

Court: Income Tax Appellate Tribunal ITAT Pune

..... case the contract is at least 1 4 complete a certain proportion of realised profit that is profit revealed by the contract less the percentage of retention money should be transferred to ..... departmental representative strongly supported the orders of authorities below he submitted that for computing the profit for any assessment year the following points have to be considered iv whether the .....

Highway Cycles Industries Ltd. Vs. Assistant Commissioner of

Court: Income Tax Appellate Tribunal ITAT Chandigarh

Reported in: (2002)255ITR105(Chd.)

..... any force in the submission of the revenue that eligible profits means profits as computed under the income tax act and any receipt ..... respect of income by way of rent interest lease rent profits arising from transactions in investment miscellaneous income and generator hire ..... an exceptional nature lastly even under clause 3 xii b profits or losses in respect of transactions not usually undertaken by .....

British Airways Plc. Vs. Deputy Commissioner of

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (2002)80ITD90(Delhi)

..... passage tickets on behalf of the enterprise concerned or on behalf of third enterprises therefore profits from the activities of legally dependent agencies of shipping or air transport enterprises together ..... of various airlines at the airports rendered services to willing airlines and thereafter distributed profits to the participants the crux of the matter according to the assessing officer was .....

Highway Cycle Industries Ltd. Vs. Asstt. Cit

Court: Income Tax Appellate Tribunal ITAT Chandigarh

Reported in: (2002)74TTJ(Chd.)171

..... any force in the submission of the revenue that eligible profits mean profits as computed under the income tax act and any receipt ..... respect of income by way of rent interest lease rent profits arising from transactions in investment miscellaneous income and generator hire ..... an exceptional nature lastly even under clause 3 xii b profits or losses in respect of transactions not usually undertaken by .....

Assistant Commissioner of Income Vs. Herbal Isolates (P) Ltd.

Court: Income Tax Appellate Tribunal ITAT Cochin

Reported in: (2002)83ITD310(Coch.)

..... has created certain distorted circumstances inasmuch as the formula gives a distorted figure of export profits when receipts like interest commission etc which do not have an element of turnover ..... see that the assessee having made exports of goods outside india and also having earned profits from its business activities was legitimately entitled for claiming the deduction available under section .....

Pearl Polymers Ltd. Vs. Deputy Commissioner of Income Tax

Court: Income Tax Appellate Tribunal ITAT Delhi

..... directing the aggregation of both export and domestic turnovers for the purpose of apportioning export profits is therefore unintended and went directly against the intent and purpose of the legislation ..... manufacture and with a view is avoid litigation the legislature deliberately provided that the profit of the entire business including exports must be ascertained irrespective of the fact whether .....

M.B. Stock Holding (P) Ltd. Vs. Asstt. Cit

Court: Income Tax Appellate Tribunal ITAT Ahmedabad

Reported in: (2002)75TTJ(Ahd.)898

..... appeals ought to have held that the current year s profits cannot be taken into account because that could be taken ..... such cases where the company fails to declare dividend notwithstanding sufficient profits to declare the same according to the learned counsel section ..... under any law for the time being in force include any profits of the company prior to three successive previous years immediately .....