Cit V A K - Law Dictionary Search Results
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
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 … buys or makes for sale, but all goods and chattels, fixed or movable, live or dead, which he keeps for permanent employment in his business, C.I.T. v. Taj Mahal Hotel, (1971) 3 SCC 550: (1971) 82 ITR
Keep your definitions linked to case research
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, … the term 'reserve' is not defined in the Act. The dictionary meaning of the word 'Reserve' is: To keep for future use or enjoyment; to store up for some time or occasion; to refrain from using or
Goodwill
it is generated as the business is carried on and may be augmented with the passage of time. CIT v. B.C. Srinivasa Setty, AIR 1981 SC 972: (1981) 3 SCC 460: (1981) 2 SCR 938. The goodwill of … time. Lawson in his INTRODUCTION TO THE LAW OF PROPERTY describes it as property of a highly peculiar kind. In C. I. T., West Bengal (III v. Chunilal Prabhudas & Co., the Calcutta High Court reviewed different
Hindu undivided family
Chettiar (1958) 34 ITR 42: 1957 AC 540) and Gowli Buddanna v. CIT. (supra). In the case of CIT v. Rm. Are. Veerappa Chettiar, ((1970) 3 SCR 307: (1970) 76 ITR 467: (1970) 1 SCC 174) the Supreme … family can be made only when there are two or more members of the Hindu undivided family, C. Krishna Prasad v. CIT, AIR 1975 SC 498: (1975) 1 SCC 160: (1975) 2 SCR 709. Hindu undivided family
Association of persons
on income, the association must be on the object of which is to produce income, profits or gains, CIT v. Indira Balkrishna, AIR 1960 SC 1172 (1174): (1960) 3 SCR 513. (Income-tax Act, 1922 s. 3) 'Association of
Individual
statute and is confined only to human beings who in the context would be comprised within that category, CIT v. Sodra Devi, AIR 1957 SC 832 (835): 1958 SCR I. [Income-tax Act, 1922, s. 16(3)]
For the purpose of the business
assets and property. It may legitimately comprehend many other acts incidental to the carrying on of the business, CIT v. Birla Cotton SPG & WVG Mills Ltd., (1971) 3 SCC 344: AIR 1972 SC 19 (21). [Income-tax Act,
Includes
to their nature and import but also those things which the interpretation clause declares that they shall include, CIT v. Taj Mahal, AIR 1972 SC 168 (170): (1972) 3 SCC 550.
- ‹ Prev
- 1
- 2
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- Next ›
- Last »
Try the research workspace - 7 days free