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Assessing Officer
Assessing Officer, means the Deputy Commissioner of Income-tax or the Assistant Commissioner or the Income-tax Officer who is vested with the relevant jurisdiction by
Carried on by him
profits or gains of the business which is carried on by the assessee, Liquidators of Pursa Ltd. v. Commissioner of Income Tax, (1954) SCR 767: AIR 1954 SC 253. The phrase 'carried on by him' in s.
Speculative transaction
s. 43(5) has to be interpreted by importing the sense conveyed by the law relating to the contracts, Commissioner of Income Tax v. Shantilal Pvt. Ltd., AIR 1983 SC 952 (954): (1983) 3 SCC 561: (1983) 3
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Pass such orders as the Tribunal thinks fit
such orders as the Tribunal thinks fit, includes all the powers which are conferred upon the Appellate Assistant Commissioner by section 31 of the Income Tax Act, 1922, Consequently the Tribunal has the authority under this section
Subsidy
Subsidy, is grant of money from a government to a private enterprise considered as beneficial to the public, Commissioner of Income Tax v. Grace Paper Industries Pvt. Ltd., 1990 183 ITR 591 (Guj); Commissioner of Income Tax,
Rebate
be granted by other statutory orders--The word 'rebate' is an apt word to use in respect of remission, Commissioner of Income Tax v. Anant Rao B.Kamat, AIR 1966 SC 279: (1964) 8 SCR 263. [Income Tax Act,
Maintenance
the cash allowance called 'jiwai' and was exempted from tax, Her Highness Maharani Kesarkunverba Saheb of Morvi v. Commissioner of Income Tax, AIR 1960 SC 1343 (1346): (1960) 39 ILR 283. 'Maintenance', necessarily must encompass a provision
Production
the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture, Commissioner of Income Tax v. NV Budharaga & Company, 1993 (70) Taxman 312: AIR 1993 SC 2529: 1993 Tax
Wages
the basis on which such recompense is determined it would all be salary, Gestetner Duplicators Pvt. Ltd. v. Commissioner of Income Tax, AIR 1979 SC 607: (1979) 2 SCC 354: (1979) 2 SCR 788. The bonus in
Education
developing the knowledge, skill, mind and character of students by formal schooling, Sole Trustee, Loka Shikshana Trust v. Commissioner of Income Tax, (1976) 1 SCC 254: AIR 1976 SC 10: (1976) 1 SCR 863. [Income Tax Act,
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