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1 - 10 of 30 (0.38 seconds)Section 172 in The Income Tax Act, 1961 [Entire Act]
Section 44B in The Income Tax Act, 1961 [Entire Act]
Union Of India vs Gosalia Shipping Private Ltd., Margao, ... on 5 May, 1978
In the light of the above discussion, we hold that the nature of payment is charter party charges and not freight charges and the case of the assessee stands squarely covered by the judgment of the Hon'ble Supreme Court in the case of Union of India v. Gosalia Shipping (P) Ltd. (supra),
Section 9 in The Income Tax Act, 1961 [Entire Act]
Section 119 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax, Bombay vs Metro Goldwyn Mayer (India) Ltd. (As ... on 2 November, 1938
20. The learned Departmental Representative referred to the decision in the case of CIT v. Metro Goldwyn Mayer (India) Ltd. (supra). In that case, the question that arose was whether the profit received on exhibition of films in India could be said to constitute a business connection. The Court held that :
Section 5 in The Income Tax Act, 1961 [Entire Act]
Performing Right Society Ltd. & Anr vs Commissioner Of Income-Tax & Others on 10 August, 1976
In the case of Performing Right Society Ltd. v. CIT (supra) relied upon by the learned Departmental Representative, the Hon'ble Supreme Court has held that the question of whether income accrued or arose is a question of fact which should be looked at and decided in the light of commonsense and plain thinking. We are in full agreement with the statement of law contained in the above decision of the Supreme Court and both the parties also did not dispute this proposition, but for applying this principle to the facts of the assessee's case, the commonsense and plain thinking facts necessary for determining as to whether there is a business connection in India are as under :
Commissioner Of Income-Tax, Andhra ... vs Toshoku Ltd., Guntur Etc on 29 August, 1980
In the case of CIT v. Toshoku Ltd. (1980) 125 ITR 525 (SC), the Hon'ble Supreme Court has held that mere credit balance in the books without any operation being carried out in India cannot result into any accrual in income of India and mere book entry does not constitute payment which will secure or discharge from the debt. The argument of the learned Departmental Representative that the credit tantamounts to payment is contrary to the decision of the Hon'ble Supreme Court in the aforesaid case.