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Documents citing Commissioner Of Income-Tax vs Globe Engineers (P.) Ltd. on 5 May, 1972

Yerram Venkata Subba Reddy , Hyderabad vs Asst. Commissioner Of Income Tax, ... on 4 November, 2020

(iii) Hon'ble High Court of Allahabad CIT vs. Globe Engineers 90 ITR 188 5.4. The Ld.DR, on the other hand supported the order of Pr.CIT and submitted that under Sec.78(1), only the firm is entitled to the set off of business loss and if there is a change in the constitution of the firm, the set off is not to be allowed.
Income Tax Appellate Tribunal - Hyderabad Cites 29 - Cited by 0 - Full Document

Manek Dara Sukhadwalla vs Shernaz Faroukh Lawyer & Anr on 25 July, 2012

"It is neither desirable not permissible to pick out a word or a sentence from the judgment of the Supreme Court, divorced from the context of the question under consideration and treat it ::: Downloaded on - 09/06/2013 18:53:49 ::: 19 misc.petn.915-2012.doc to be the complete 'law' declared by the Supreme Court. The judgment must be read as a whole and the observations from the judgment have to be considered in the light of the questions which were before the Court. A decision of the Court takes its colour from the questions involved in the case in which it is rendered and while applying the decision to a later case, the Courts must carefully try to ascertain the true principle laid down by the decision of the Supreme Court and not to pick out words or 0sentences from the judgment divorced from the context of the questions under consideration by the Court, to support their reasonings."
Bombay High Court Cites 13 - Cited by 3 - A A Sayed - Full Document

Shanker Refrigeration Co. vs Commissioner Of Income-Tax on 9 July, 1974

6. Learned counsel for the assessee relied upon a Division Bench decision of this court in Commissioner of Income-tax v. Globe Engineers (P.) Ltd.,[1973] 90 ITR 188 (All) wherein it had been held that where a registered firm manufactures or processes articles in an industrial undertaking, every partner of the registered firm does so and would also be entitled to any rebate in income-tax allowed to a manufacturer. Those observations were made not in a case which arose out of the assessment of a firm, but were made in a case which arose out of the assessment of the individual partners. This case, therefore, is no authority for the proposition that the question whether indivi dual partners are entitled to a particular rebate on the share of income allocated to them as a result of the firm's assessment, should be decided in the assessment proceedings of the firm itself.
Allahabad High Court Cites 3 - Cited by 1 - Full Document
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