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The British India Corporation Ltd. vs The Commissioner Of Excess Profits Tax ... on 22 March, 1957
cites
Walchand And Co., Ltd. vs The Hindustan Construction Co., Ltd. on 26 July, 1943
The Excess Profits Tax Officer then referred to the case of Walchand & Co. Ltd. v The Hindustan Construction Co., Ltd. 1944-12 ITR 104 : (AIR 1944 Bom 5) (A) and, following it, held that it appeared to be both unnecessary and unreasonable to pay more than the agreed proportion of the profits after deduction of the excess profits tax. He went on to give the finding that though the increased expenditure under commission was of a nature which, under the provisions of Section 10 of the Income Tax Act, was an allowable deduction, it was unreasonable and unnecessary having regard to the requirements of the business and the actual services rendered by the persons concerned.
Shyamlal Pragnarain vs Commissioner Of Income-Tax, U.P., ... on 5 January, 1955
3. It appears to us that the consideration, which led the Excess Profits Tax Officer to disallow these amounts, was not decisive of the question that arose for decision. It was held by the Full Bench of this Court in Shyamlal Pragnarain v. Commr. of Income-Tax U. P., Lucknow, (1955) 27 ITR 404: ((S) AIR 1955 All 209) (B):
Section 10 in The Income Tax Act, 1961 [Entire Act]
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