Cit V H H - Law Dictionary Search Results
Property
an actionable claim against the tenants is undoubtedly a species of property which is assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252. Comprises every form of tangible property, even intangible, including debts and chooses … AIR 1978 SC 802. Decree is to be treated as property, Associated Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201. Every movable … make up wealth or estate or status, property, therefore, within the constitutional protection, denotes group of rights infering citizen's relation to physical thing, as right to possess, use and dispose of it in accordance with law. In
Service
it is communicated, may, if aggrieved, seek redress in a higher forum in the manner prescribed by law, Commissioner of Sales Tax v. MangalSen Shyam Lal, AIR 1975 SC 1106 (1110): (1975) 4 SCC 35: (1975) Supp … Service [fr. servitium, Lat.], that duty which a tenant, by reason of his estate, owes to his lord. There are many divisions of this duty in our ancient law books, as
Intended for personal or household use
It meant normally, commonly or ordinarily intended for personal or household use, H.H. Maharaja Rana Hemant Singhji v. CIT, AIR 1976SC 662 (665): (1976) 1 SCC 996: (1976) 3 SCR 423.
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Stock in-trade
Stock in-trade, means which a trade or a business-man deals, H. Mohammed & Co. v. CIT, (1977) 107 ITR 637.
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 … in every case the method of accounting employed by the assessee and to see whether or not it has been regularly employed and to determine whether the income, profits and gains of the assessee could properly be
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 … in the manufacture or other processes carried on by the assesses qua that commodity. It is not necessary, however, for income to accrue that there must be a sale of a commodity: consumption or use of a
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 … of religion; and trusts for other purposes beneficial to the community not falling under any of the preceding heads. The definition in this Act makes one significant change when it speaks of 'public utility' and the gives
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 … including records, documents, memos, e-mails, opinions, advices, press-releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form and information relating to any private body which can be accessed by a public
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 … Business, 'business' is a word of wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional financing to commercial banking,
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