Cit V O T - Law Dictionary Search Results
Any person
Income Tax Act, 1961 are significant and even a third party can make an application to the Chief Commissioner or Commissioner giving reasons for his objection to the order and seeking appropriate relief in the matter, Commissioner … be held not to include the owner of the goods or his authorised representative travelling in the goods vehicle, Parliament has now made it clear that such a construction is no longer possible. The scope of this … Any person, the effect of the 1994 amendment on s. 147 is unambiguous. Where earlier, the words … Any person, the effect of the 1994 amendment on s. 147 is unambiguous. Where earlier,
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 the opinion of Income Tax Officer, The expression 'in the opinion of the Income-tax Officer' in the proviso to s. … In the opinion of Income Tax Officer, The expression 'in the opinion of the
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 … Income, s. 4 of the Income-tax Act, defines the 'total income' to include all income, profits and gains from whatever source deprived. … Income, s. 4 of the Income-tax Act, defines the 'total income' to include all income, profits and
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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. … Earned surplus, it represents a specific account into which are added the net profits of the year and appropriations are made out of it and the balance is regarded as 'earned surplus' at … Earned surplus, it represents a specific account into which are added the net profits of the year and appropriations are made out of it
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 … Information, an accusation, or complaint, also, communicated knowledge. Information means any material in any form, including records, documents, memos, e-mails, opinions, advices, … samples, models, data material held in any electronic form and information relating to any private body which can be accessed by a public authority under
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 … wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional financing to commercial banking, Mahesh Chandra v. … Business, 'business' is a word of wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional
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, … Reserve, 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 … Reserve, the term 'reserve' is not defined in the Act. The dictionary meaning of
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 … and divorces. Such a partnership is likely to have a precarious existence, Messrs Agarwal and Co. v. Commissioner of Income-tax, AIR 1970 SC 1343: (1971) 1 SCR 237: (1970) 2 SCC 48. The expression 'Hindu undivided family' … changes by births, deaths, marriages and divorces. Such a partnership is likely to have a precarious existence, Messrs Agarwal and Co. v. Commissioner of Income-tax,
Similar
similarly is insufficient by itself to signify the degree of stipulation with which that thing must be done, CIT v. T.V. Sundaram Iyenger and Sons (P) Ltd., AIR 1976 SC 255: (1976) 1 SCC 77: (1975) Supp SCR … Similar, the word 'similar' may be said to be a word of ambiguous import in the sense that the mere stipulation in a statute that something should be done similarly
Similarly apportioned
words 'similarly apportioned' convey a definite meaning and are not ambiguous. 'Similarly apportioned' means simply 'similarly split up', CIT v. T.V. Sundaram Iyenger and Sons (P) Ltd., AIR 1976 SC 255 (260): (1976) 1 SCC 77: (1975) Supp … Similarly apportioned, the words 'similarly apportioned' which occur in the explanation mean apportioned 'with reference to the amounts of profits and gains attributable to the two
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