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1 - 5 of 5 (0.33 seconds)Assam Bengal Cement Co. Ltd vs The Commissioner Of Income-Tax,West ... on 11 November, 1954
9. Clearly, the assessee has not acquired an asset by incurring an expenditure on the rented shop. The next question is as to whether he has acquired a benefit of an enduring nature. The word "enduring" means "enduring in the way that fixed capital endures" and it does not connote a benefit that endures in the sense that for a good number of years it relieves the assessee of a revenue payment. See Assam Bengal Cement Co. Ltd. v. Commissioner of Income-tax, [1955] 27 ITR 34, 46 (SC).
Lakshmiji Sugar Mills Co. (P.) Ltd. vs Commissioner Of Income-Tax on 1 May, 1973
11. A large number of cases have been cited, but in my opinion none of them is to the point. The case which is nearest to the case of the assessee is that of Lakshmiji Sugar Mills Co. P. Ltd. v. Commissioner of Income-tax, [1971] 82 ITR 376 (SC).
Section 30 in The Income Tax Act, 1961 [Entire Act]
Section 256 in The Income Tax Act, 1961 [Entire Act]
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