Co V Cit - Law Dictionary Search Results
Salami
it may properly be held to be a payment on capital account, Maharaja Chintamani Saran Nath Sah Deo v. CIT, AIR 1972 SC 80 (81): (1971) 2 SCC 521: (1972) 1 SCR 36. 'Salami' is defined as; 'a … (1971) 2 SCC 521: (1972) 1 SCR 36. 'Salami' is defined as; 'a free gift by way of compliment or in return of a favour'. Salami is a payment by the tenant as a present or as
Paid
takes in every receipt by the employee from the employer whether it was due to him or not, Commissioner of Income Tax, Kerala and Coimbatore v. L.W. Russell, AIR 1965 SC 49. [Income Tax Act, 1922, s. … takes in every receipt by the employee from the employer whether it was due to him or not, Commissioner of Income Tax, Kerala and Coimbatore v. L.W. Russell, AIR 1965 SC 49. [Income Tax Act, 1922, s.
Smallness of profit
are the actual profits earned by an assessee calculated on commercial principles, CIT v. Gangadhar Banerjee and Co. (P) Ltd., AIR 1965 SC 1977: (1965) … of commercial principles and not in the light of total receipts, actual or fictional, Commissioner of Income Tax v. Bipinchandra Maganlal and Co., AIR 1961 SC 1040 (1043): (1961) 2 SCR 493. (ii) The words 'smallness of … used the expression 'smallness of profit' and not 'smallness of assessable income' and there is noth-ing in the context in which the expression 'small-ness of profit' occurs which justifies equation of the expression 'profit' with 'assessable income.'
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Surcharge
land revenue to the extent of the imposition of surcharge. The nature of such imposition is the same viz., land revenue on which it is a charge, Sarojini Tea Co. (P) Ltd. v. Collector of Dibrugarh, AIR … charge in addition or to subject to an additional or extra charge, Commissioner of Income Tax v. K. Srinivasan, AIR 1972 SC 491. … Act, 1875, s. 247 (7)]; a second or further mortgage. See AUDIT. 1. An additional tax, charge, or cost usu. one that is excessive 2. An additional load or burden, Black's Law Dictionary, 7th Edn. The expression
Prohibition
the ground of the application; this procedure has been directed since the Jud. Act, 1873 [see South-Eastern Ry. Co. v. Railway Commissioners, (1880) 5 QBD 217], but where the prohibition applied for is to a county Court, it
Gross total income
(P) Ltd. v. Commissioner of Income Tax Delhi, (2003) 5 SCC 36; Also Caradamom Marketing Co. (Trav.) Ltd. v. CIT, (1986) 158 ITR 621 (Ker).
Reserve and provision
purposes of the two taxing enactments, Vazir Sultan Tobacco Co. Ltd. v. Commissioner of Income Tax, AIR 1981 SC 2105: (1981) 4 SCC 435: (1982) … useful in itself, may not be sufficient, for, the dictionaries do not make any distinction between the two concepts 'reserve' and 'provision' which giving their primary meanings, whereas in the context of the legislation with which we … 'reserve' is: 'to keep for future use or enjoyment; to set apart for some propose or end in view; to keep in store for future or special use; to keep in reserve', while 'provision' according to Webster
Carried on by him
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 … or vocation carried on by him.' 'Business' is defined by s. 2, sub-s. (4) as 'including any trade, commerce or manufacture, or any adventure or concern in the nature of trade, commerce or manufacture' is the continuous … tax is payable by an assessee 'in respect of the profits or gains of any business, profession or vocation carried on by him.' 'Business' is defined by s. 2, sub-s. (4) as 'including any trade, commerce or
Attributable to
the expression 'attributable to' is certainly wider in import than the expression 'derived from', Cambay Electric Supply Industrial Co v. CIT, AIR (1978) SC 1099 (1105): (1978) 2 SCC 644. [Income-tax Act, (43 of 1961) s. 80E] Words 'attributable
Act of State
sovereign State for the first time, whether it be by conquest or cession, Dalmia Dadri Cement Co. Ltd. v. CIT, AIR 1958 SC 816 (822). The Act of the sovereign power of a country or its agent (if
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