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1 - 10 of 22 (0.25 seconds)Section 34 in Income Tax Rules, 1962 [Entire Act]
The Indian Overseas Bank Ltd vs The Commissioner Of Income-Tax, Madras on 23 April, 1970
Once that profit and loss account is made up, it is no longer open to transfer any amount to the development rebate and in the passage which we have set out above, the Supreme Court has pointed out in Indian Overseas Bank Ltd.'s case that the amount to be transferred to that account is to be a debited before the profit and loss account is made up. With respect, therefore, we are unable to agree with the learned judges of the Allahabad High Court when they hold that the statute does not specify any period of time within which the relevant entries should be made regarding debiting the profit and loss account with the amount of the development rebate and crediting the said amount to a separate development rebate reserve account.
Commissioner Of Income-Tax, Madras vs P. Veeraswami Nainar Bus Owner And The ... on 3 January, 1964
The Punjab and Haryana High Court in fact referred to the decisions of the Madras High Court in Commissioner of Income-tax v. Veeraswami Nainar and of the Supreme Court in Indian Overseas Bank Ltd.'s case. At page 389 it has been observed :
Surat Textile Mills Ltd. vs Commissioner Of Income-Tax, Gujarat Ii on 13 October, 1970
The requirements of section 34(3) are stringent and as pointed out earlier in Surat Textile Mills Ltd.'s case the Supreme Court while interpreting the provisions similar to section 34(3) of the Act of 1922, has taken the strict view as against the more liberal view of the Rajasthan and Andhra Pradesh High Courts. Since that strict view has to be taken, it must be held that the conditions for allowing the development rebate were not fulfilled in the case of the present assessee-firm. The Tribunal was, therefore, right in law in holding that those conditions were not fulfilled in the instant case.
Section 33 in Income Tax Rules, 1962 [Entire Act]
Section 28 in Income Tax Rules, 1962 [Entire Act]
Commissioner Of Income-Tax, Delhi And ... vs Mazdoor Kisan Sahkari Samiti, Village ... on 6 May, 1969
The Punjab and Haryana High Court followed the decision of the Andhra Pradesh High Court in Veerabhadra Iron Foundry v. Commissioner of Income-tax and of the Rajasthan High Court in Commissioner of Income-tax v. Mazdoor Kisan Sahkari Samiti .
Commissioner Of Income-Tax, Central vs Modi Spinning & Weaving Mills Co. Ltd. on 13 March, 1972
12. Before the Allahabad High Court in Commissioner of Income-tax v. Modi Spinning and Weaving Mills Co. Ltd. the decision of this court in Surat Textile, Mills Ltd.'s case was cited.
Veerabhadra Iron Foundry And Another vs Commissioner Of Income-Tax, A.P. on 25 April, 1967
The Punjab and Haryana High Court followed the decision of the Andhra Pradesh High Court in Veerabhadra Iron Foundry v. Commissioner of Income-tax and of the Rajasthan High Court in Commissioner of Income-tax v. Mazdoor Kisan Sahkari Samiti .