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General public utility

v. C.I.T., (1944) 12 ITR 482 (PC), exclude objects of private gain. Sole Trustee, Lok Shikshana Trust v. Commissioner of Income Tax, AIR 1976 SC 10: (1976) 1 SCC 254: (1976) 1 SCR 863 … are very wide. These words, as held by the Judicial Committee in the case of All India Spinners Association v. C.I.T., (1944) 12 ITR 482 (PC), exclude objects of private gain. Sole Trustee, Lok Shikshana Trust v.

Common quality

that community to get admitted into that community cannot introduce a personal element, Ahmedabad Rana Caste Association v. Commissioner of Income-tax, (1972) 1 SCR 744: AIR 1972 SC 273 (276): (1971) 3 SCC 475. … usage of that community to get admitted into that community cannot introduce a personal element, Ahmedabad Rana Caste Association v. Commissioner of Income-tax, (1972) 1 SCR 744: AIR 1972 SC 273 (276): (1971) 3 SCC 475.

Religious charity

festival or observance of a religious character, whether it be connected with a math or temple or not', Commissioner v. Narayana Ayyangar, AIR 1965 SC 1916 (1917): (1965) 3 SCR 168. [T.N. Hindu Religious and Charitable Endowments … Religious charity, clause (13) of s. 6 defines 'religious charity' as meaning 'a public charity associated with a Hindu festival or observance of a religious character, whether it be connected with a math or

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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

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.

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

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,

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

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

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