Cit V United - Law Dictionary Search Results
Firm
and the name under which their business is carried on is called the 'firm name', Dulichand Laxminarayan v. Commissioner of Income Tax, AIR 1956 SC 354: 1956 SCR 154. (ii) 'Firm' is defined in s. 2(9) of … noun, a compendious expression to designate an entity, not a person. In Income-tax law a firm is a unit of assessment, by special provisions, but is not a full person, Commissioner of Income Tax v. R.M. Chidambaram
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)] … or minor child or both. It therefore necessarily excludes from its purview a group of persons forming a unit or a corporation created by a statute and is confined only to human beings who in the context
Interest on securities
be taxed under s. 8 and not under s. 10 of the Act, United Commer-cial Bank Ltd. v. Commissioner of Income Tax, AIR 1957 SC 918: (1958) SCR 79.
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Investment
out money on interest, either by the way of loan, or by the purchase of income producing property, Commissioner of Income Tax v. U.P. Co-operative Federation Ltd., AIR 1989 SC 915 (919): (1989) 1 SCC 747: (1989) … AIR 1989 SC 915 (919): (1989) 1 SCC 747: (1989) 1 SCR 586. Investment means an investment in units of the Unit Trust or a Mutual Fund by an assessee under a plan formulated in accordance with
Hindu joint family
who are united by the tie of sapindaship arising by birth, marriage or adoption, Surjit Lal Chhabda v. CIT, AIR 1976 SC 109 (114): (1976) 3 SCC 142.
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.
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
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
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