And Cit V Orissa - Law Dictionary Search Results
Production
construction of a dam or for that matter a bridge, a owed or a building, Commissioner of Income-tax, Orissa v. N.C. Budharaja and Company, AIR 1993 SC 2529. Production, with its grammatical variations and cognate expressions, includes … the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture, Commissioner of Income Tax v. NV Budharaga & Company, 1993 (70) Taxman 312: AIR 1993 SC 2529: 1993 Tax
Any income
in their application by reason of the user of the expression 'derived from', Orissa State Warehousing Corporation v. Commissioner of Income Tax, (1999) 4 SCC 197.
In the opinion of Income Tax Officer
employed and to determine whether the income, profits and gains of the assessee could properly be deduced therefrom, CIT v. A. Krishnaswamy Mudaliar, AIR 1964 SC 1843: (1964) 7 SCR 776. (Income-tax Act, 1922, s. 13
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Income
629. Prize money received by the participant in a Motor Rally is 'income' and is liable to tax, CIT v. G.R. Karthikeyan, AIR 1993 SC 1671 (1675). [Income-tax Act, 1961, s. 2(24)] The terms 'income' is elastic and
Earned surplus
the account 'earned surplus' cannot be regarded as mere unallocated profits at the end of the accounting year, CIT v. Standard Vacuum Oil Company, AIR 1966 SC 1393: (1966) 2 SCR 367. [Business Profits Tax Act, 1947, Sch.
Charitable purpose
carrying on of any activity for profit' which qualify or govern the last head of charitable purpose. In CIT v. Andhra Chamber of Commerce, (1965) 55 ITR 722, a case decided by the Supreme Court under the 1922
Information
external source concerning facts or particulars, or as to law relating to a matter bearing on the assessment, CIT v. A. Raman, AIR 1968 SC 49 (51): (1968) 1 SCR 10. [Income-tax Act, 1961, s. 147(1) (b)] Information
Business
carrying on a particular trade or avocation, it may also include an activity which may be called 'quiescent', CIT v. Calcutta National Bank Ltd., AIR 1959 SC 928 (934): 1960 SCJ 980: (1959) 37 ITR 171: (1959) Supp
Plant
338 (344): (1986) 1 SCC 11. (Income-tax Act, 1961, s. 32) Theatre building cannot be considered a plant, CIT v. Raiban & Sons, (2002) 10 SCC 381: AIR 2002 SC 443. (Income Tax Act, 1961, s. 32) The
Reserve
ordinary meaning the expression 'reserve' means something specifically kept apart for future use or for a specific occasion, CIT v. Standard Vacuum Oil Ltd., AIR 1966 SC 1393 (1401): (1966) 2 SCR 367. [Business Profits Tax Act, 1947,
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