Profitable - Judgment Search Results

Bharatiya Janata Party Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2002)80ITD89(Delhi)

..... merely because the ultimate objective is not for earning profit earning of profit need not be an end in itself the ..... but the fact that such an activity was undertaken with profit motive cannot be ascertained with these facts because registration ..... express provision that the party will undertake publication for earning profit it was submitted that the surrounding circumstances clearly indicated .....

Ncl Industries Ltd. Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Reported in : (2004)88ITD150(Hyd.)

..... receipts deductions and allowances thus a clear distinction has been drawn out between commercial profits and assessable profits going by accounting standard 9 issued by the institute of chartered accountants of ..... proposition propounded by assesscc the learned counsel replied that waiver of interest is not income profit under general law he once again relied on the four decisions already cited in .....

Kalindee Rail Nirman (Engineers) Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Jaipur

Reported in : (2003)78TTJ(JP.)653

..... declared contract receipts that depreciation was allowed to the assessee out of the net profit however interest was not allowed being normal business expenditure however the learned authorised representative ..... for the earlier years overall fact findings and circumstances of the case suppression of profits having not been established allegations having1 not been proved explanation rendered by the .....

Assistant Commissioner of Income Vs. Avon Cycles Ltd.

Court : Income Tax Appellate Tribunal ITAT Chandigarh

Reported in : (2003)86ITD156(Chd.)

..... authority which they should scrupulously follow it has been incorrectly observed that the principle that profits represent plus income and loss represent minus income and minus income should be adjusted against ..... section 3 of section 80hhc explanation baa below section 80hhc 4b which defines the expression profits of the business used in section 80hhc 3 also strengthens our view this explanation .....

Tamil Nadu Brick and Tile Mfrs. Industrial Service Co-operative Societ ...

Court : Chennai

Reported in : [2003]129TAXMAN343(Mad)

..... business computed on business principles they are business profits and not statutory profits they are real profits and not notional profits the real profits of a businessman under section 10 1 of ..... supreme court also made the distinction between the real profit and statutory profit that is between the statutory profit and commercial profit to be determined by applying the commercial principles under .....

Birla Jute and Industries Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD400Cal

..... revenue reserve revaluation reserve is not made by appropriating profits from the profit and loss account and therefore creation of revaluation ..... is proceeded as if the reference to the net profit as per profit amp loss account is that figure all adjustment ..... reserve inherently cannot result in undue lowering of the profits it is submitted that since revaluation reserve is essentially .....

Cit Vs. Holiday Travels (P) Ltd.

Court : Chennai

Reported in : [2003]127TAXMAN250(Mad)

..... importance for it is only on the right to receive profits or income profits accrue to that person the decision of the supreme ..... therefore held that the liability would arise only after the profit is determined in accordance with the provisions of the companies ..... or an insurmountable difficulty for the company assessees to estimate the profits of the company during the current year itself and there .....

The Commissioner of Income-tax Vs. Holiday Travels P. Ltd.

Court : Chennai

Reported in : (2003)181CTR(Mad)442; [2003]263ITR307(Mad)

..... importance for it is only on the right to receive profits or income profits accrue to that person the decision of the supreme ..... therefore held that the liability would arise only after the profit is determined in accordance with the provisions of the companies ..... or an insurmountable difficulty for the company assessees to estimate the profits of the company during the current year itself and there .....

Cit Vs. the Madras Motors Ltd.

Court : Chennai

Reported in : (2002)174CTR(Mad)221

..... undertaking and it was just not sufficient that the commercial connection was established between the profits earned and the industrial undertaking it was held by the division bench further that the ..... can sell the sale consideration therefrom cannot in our view be held to constitute a profit and gain derived from the assessee s industrial undertaking the learned counsel therefore very vehemently .....

Coal India Limited Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... and the assessing officer duly reduced this amount from net profit as per profit and loss account for the computation of taxable income ..... however reflected dividends in the previous year in respect of profits of which the subsidiaries had declared dividends it is thus ..... the act unless otherwise specifically excluded will apply on the profits computed under section 115 ja of the act as there .....