Co V Cit - Law Dictionary Search Results
Person
Person, a Hindu Undivided Family is a person, Kshetra Mohan-Sannyasi Charan Sadhukhan v. Commissioner of Excess Profit Tax, West Bengal, AIR 1953 SC 516. According to company law it does not mean … M.M. Ipoh v. Commissioner of Income Tax, AIR 1968 SC 317. Means: (i) an individual who is a citizen of India; (ii) an association of individuals or body of individuals, whether incorporated or not, whose members are
Income
enable a Legislature to provide by law for the prevention of evasion of income-tax, Punjab Distilling Industries Ltd. v. CIT, AIR 1965 SC 1862: (1965) 3 SCR 1. The expression 'income' in its normal connotation does not mean … include all income, profits and gains from whatever source deprived. The definition of 'income' in Shaw Wallace & Co. case, 1932 (59) IA 206, as a periodical monetary return coming in with some sort of regularity, or
Reason to believe
that reasons should exist but the court will not go into the adequacy of such reason, Manchand & Co. v. CIT, West Bengal, AIR 1969 Cal 431. Means coming to the conclusion on the basis of the information that
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Judgment
the appeal on any ground, therefore, the order in question is not a judgment, Chalavada Venkata Subbarao and Co v. Grandhi Sree Amulu, AIR 1965 AP 16. In order to constitute a 'judgment' within the ambit of clause … it and the grounds on which such decision is based, Petlad Turkey Red Dye Works Co. Ltd. v. Commissioner of Income Tax, AIR 1963 SC 1484: (1963) Supp 1 SCR 871. [Income Tax Act, 1922, s. 66(5)]
Reserve
for oneself. To keep back; to retain or hold over to a future time or place. To preserve, Commissioner of Income Tax v. Century Spinning and Manufacturing Co., AIR 1953 SC 501: (1954) SCR 203. (ii) As … account when computing the capital and reserves within R. 2(1) of Schedule II of the Act, First National City Bank v. Commissioner of Income Tax, AIR 1961 SC 812: (1961) 3 SCR 371. (iii) The reserve contemplated
Rate
called tax computed at a certain rate, Sundaram Co. (Private) Ltd. v. Commissioner of Income-tax, AIR 1968 SC 124: (1967) 3 SCR 798. A Municipality … Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers … upon, as a general rule, the occupiers of property within a parish or other area. Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268. The term
Any person
person, the effect of the 1994 amendment on s. 147 is unambiguous. Where earlier, the words 'any person' could be held not to include the owner of the goods or his authorised representative travelling in the goods … 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 … 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
Information
also amount to a fresh infor-mation which comes into existence subsequent to the original assessment, Kalyanji Mavji & Co. v. CIT, AIR 1976 SC 203: (1976) 1 SCC 985: (1976) 2 SCR 966. The 'information' may be of facts
Hindu undivided family
births, deaths, marriages 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 … (see Attorney-General of Ceylon v. Ar. Arunachalam 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
Building
definition given in s. 5(7) of the Act would include a part of a building, Corpn. of the City of Nagpur v. Nagpur Handloom Cloth Market Co. Ltd., AIR 1963 SC 1192 (1197): 1963 Supp (2) SCR … by Lord Esher in Moir v. Williams, (1892) 1 QB 270, as an inclosure of brick or stone covered by a roof, and said by Park, J., in R. v. Gregory, (1833) 5 B. & Ad. At
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