Search Results Page
Search Results
1 - 8 of 8 (0.24 seconds)Section 10 in The Income Tax Act, 1961 [Entire Act]
Basti Sugar Mills Co. Ltd. vs State Of Uttar Pradesh And Ors. on 10 February, 1954
22. 'Ollivant & Co.'s case (H)' was not a case arising out of either Income-tax Act or Excess Profits Tax Act. The question there arose of interpretation of a contract. It is not necessary to give the terms of the contract, nor to deal with this case at any length as the case is really not relevant for our purposes. Learned counsel has relied on a passage at p. 532 in the judgment of Lord Greene M. R. that:
Walchand And Co., Ltd. vs The Hindustan Construction Co., Ltd. on 26 July, 1943
14. The whole basis of the decision of the Appellate Tribunal, therefore, is that the payment. in excess of the agreed amount, being ex gratia payment, could not be held to be reasonable or necessary for the requirements of the business. The Excess Profits Tax Officer followed more or less the same line. He said that in accordance with the decision in -- 'Walchand & Co. Ltd. v. Hindustan Construction Co. Ltd.', AIR 1944 Boris. 5 (B), the amount of excess profits tax had to be deducted before commission could be worked out for payment to the Manager and the Assistant Manager, and it was, therefore, unnecessary and unreasonable to pay more than the agreed proportion of the profits. The Excess Profits Tax. Officer, however, went on to hold that the whole amount paid was an allowable deduction under Section 10, Income-tax Act.
N.M. Rayaloo Iyer And Sons, Mathurai vs Commr. Of Income Tax Excess Profits Tax, ... on 11 January, 1954
In -- 'N.M. Rayaloo Iyer and Sons v. Commissioner of Income-tax/Excess Profits Tax, Madras', (S) AIR 1955 Mad 56 (Q) the main question turned on the interpretation of certain letters and the other questions in the case are not relevant for our purposes.
Section 48 in The Income Tax Act, 1961 [Entire Act]
James Finlay And Co. Ltd. vs Finlay Mills, Ltd. on 2 April, 1942
32. Coming to the decisions of the Indian Courts, the decision in -- 'James Pinlay & Co. Ltd. v. Pinlay Mills Ltd.', 47 Bom LR 774 (O) is not very helpful as the decision turned merely on the words of the agreement which provided that commission was payable at a particular rate without setting aside any sum for payment of income-tax or super-tax or any other tax on income.
Commissioner Of Income-Tax, Delhi vs Delhi Flour Mills Co. Ltd., Delhi on 30 December, 1952
In -- 'Commissioner of Income-tax, Delhi v. Delhi Flour Mills Co. Ltd.', AIR 1953 PunJ 180 (FB) (P) the question arose whether, in calculating the annual net profits of the company for purposes of ascertaining the amount payable as commission to the Managing Agents, Excess Profits Tax was or was not to be deducted. The learned Judges were of the opinion that the amount was not deductible and quoted the observations made in some of the English cases.
1