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1 - 8 of 8 (0.38 seconds)East India Housing And Land Development ... vs Commissioner Of Income-Tax, West ... on 2 November, 1960
"8. With this background, we first refer to the
judgment of this Court in East India Housing and
Land Development Trust Ltd. case [East India
Housing and Land Development Trust Ltd. v. CIT,
(1961) 42 ITR 49 (SC)] which has been relied upon by
the High Court.
Section 27 in The Income Tax Act, 1961 [Entire Act]
Section 11 in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
Chennai Properties And Investment Ltd. vs Commissioner Of Income-Tax on 4 March, 1998
The
judgment in East India Housing and Land Development Trust
Ltd. which would be applicable which is discussed in para 8
of Chennai Properties & Investments Ltd. case and the
reproduction thereof would bring home the point we are
canvassing:
Karanpura Development Co., Ltd vs The Commissioner Of Income-Tax, West ... on 31 August, 1961
19) Reliance placed by the appellant on the judgments of this
Court in Chennai Properties & Investments Ltd. and Rayala
Corporation (P) Ltd. would be of no avail. In Chennai Properties
& Investments Ltd. where one of us (Sikri, J.) was a part of the
Bench found that the entire income of the appellant was
through letting out of the two properties it owned and there was
no other income of the assessee except the income from letting
out of the said properties, which was the business of the
assessee. On those facts, this Court came to the conclusion that
judgment of this Court in Karanpura Development Co. Ltd. v.
CIT, (1962) 44 ITR 362 was applicable and the judgment of this
Court in East India Housing and Land Development Trust Ltd.
v. CIT, (1961) 42 ITR 49 was held to be distinguishable. In the
present case, we find that situation is just the reverse.
Indian Companies Act, 1913
1