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Documents citing Duncan Brothers And Co. Ltd. vs Commissioner Of Income-Tax on 24 December, 1975

Commissioner Of Income-Tax vs South India Corporation (Agencies) ... on 24 April, 1998

Such being the position, it goes without saying that the Tribunal was rather wrong in deciding the issue in favour of the assessee, placing implicit reliance on the decision of the Calcutta High Court in Duncan Brothers and Co. Ltd. v. CIT[1981] 128 ITR 302, which followed the decision in Duncan Brothers and Co. Ltd. v. CIT . We, therefore, answer the common question that the provision for taxation amounting to Rs. 57,86,074 cannot at all be deducted from the cost of the investments to be reduced from the capital base under rule 2 of the Second Schedule. The question is answered accordingly.
Madras High Court Cites 5 - Cited by 0 - Full Document

Duncan Brothers & Co. Ltd. vs Commissioner Of Income-Tax on 9 November, 1981

Our attention was also drawn to the unreported decision in I.T. Reference No. 272 of 1976 in the case of Duncan Brothers & Co. Ltd. v. CIT, the judgment delivered on 4th August, 1978 [since ], where the court was concerned with the question whether the deduction of a provision for taxation and cost of investments in terms of Clause (ii) of Rule 2 in the Second Schedule to the C. (P.) S.T. Act, 1964, was allowable or not.
Calcutta High Court Cites 16 - Cited by 0 - S Mukharji - Full Document

Commissioner Of Income-Tax vs Indian Reinsurance Corporation Ltd. on 15 September, 1998

The Calcutta High Court in Duncan Brothers and Co. Ltd. v. CIT[1978] 111 ITR 885 was considering the case of computation of the capital of the company and whether for the purpose of the Act the same should be treated as a reserve or fund. The Calcutta High Court on facts held that the provisions for taxation constitute a fund within the meaning of Rule 2(ii) of the Second Schedule to the Surtax Act. Thus the decision of the Calcutta High Court is of no assistance to the assessee.
Bombay High Court Cites 8 - Cited by 1 - A Y Sakhare - Full Document

Commissioner Of Income-Tax And Super ... vs Burn And Co. Ltd. on 25 January, 1978

In the case of Duncan Bros, and Co. Ltd. v. Commissioner of Income-tax , the court was concerned with the question whether the provision for taxation was reserve so as to form part of the capital under Rule 2 of the Companies (Profits) Surtax Act, 1964, as well as the Super Profits Tax Act, 1963. The court after reviewing the position held that "provision for taxation" could not be held to be reserve as the item was really a provision for payment of an existing liability.
Calcutta High Court Cites 28 - Cited by 14 - S Mukharji - Full Document
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