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Finding

it can be said of it that it was necessary for the disposal of the appeal or proceeding, Commissioner of Income Tax v. S. Raghubir Singh Trust Through Chairman Major Harjender Singh, AIR 1980 SC 98: (1980) … Singh, AIR 1980 SC 98: (1980) 2 SCC 212. Means the year beginning on the 1st April and ending on the 31st March next following, Rajasthan Agricultural Produce Markets Act, 2005, s. 2(e). Means 'a conclusion upon

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.

Shall be final

Tribunal. 'Shall be final' means it is final and there is an end, Commissioner of Sales Tax v. Super Cotton Bowl Refilling Works, AIR 1989 … Shall be final, sub-s. (5) of s. 35 after the amendment states that the decision of the Commissioner of Sales Tax under this s. shall, subject to an appeal to the Tribunal, be final. In view … Commissioner of Sales Tax under this s. shall, subject to an appeal to the Tribunal, be final. In view of the language of the s., in our opinion, it cannot contemplate a further revision to the High

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Labour and skill

inter alia, is: 'physical or mental exertion, particularly for some useful or desired end, Chandrakant Manilal Shah v. CIT, AIR 1992 SC 66 (75): (1992) 1 SCC 76.

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

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 … general public utility, but does not include a purpose which relates exclusively to religious teaching or worship. [Charitable Endow-ments Act, 1890 (6 of 1890), s. 2] Means relief of the poor, education, medical relief and the advancement

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

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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