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1 - 10 of 12 (0.31 seconds)Section 34 in Income Tax Rules, 1962 [Entire Act]
Section 18 in Income Tax Rules, 1962 [Entire Act]
E. D. Sassoon And Company Ltd vs The Commissioner Of Income-Tax,Bombay ... on 14 May, 1954
10. So far as this court is concerned it is well established by the decision of the Division Bench of this court in the case of Central Calcutta Investment (P.) Ltd. v. Commissioner of Income-tax of the report, that the arrears of tax liability of the earlier years "must be taken into account in determining the availability of surplus money for the purpose of declaring a dividend which is one of the facts which the Income-tax Officer is required to take into consideration under the direction given by the Supreme Court in Gangadhar Banerjee's case .
Srinivas Banking Company Ltd. vs Commissioner Of Income-Tax (Central), ... on 20 December, 1963
In Srinivas Banking Company's case [1965] 58 ITR 89 (Cal), all contingencies were taken into consideration by the assesee and, therefore, the court accepted the conclusion reached by the Tribunal, but not its reasonings. We do not find anything in these cases which may in any way lend support to the above contentions of Mr. Sengupta.
The Commissioner Of Income-Tax,Bombay ... vs Bipinchandra Maganlal And Co. ... on 17 November, 1960
14. It has been held by the Supreme Court in Bipinchandra Maganlal's case , that the test whether it would be unreasonable to distribute a larger dividend has to be adjudged in the light of the commercial profit of the year in question.
Commissioner Of Income-Tax (Central) vs Asiatic Textiles Co. Ltd. on 6 September, 1974
15. This law has been reiterated by the Supreme Court in the case of Commissioner of Income-tax v. Asiatic Textiles Ltd. of the report, the Supreme Court says this :
Section 66 in Income Tax Rules, 1962 [Entire Act]
Gwalior Rayon Silk Manufacturing ... vs Income-Tax Officer, "A" Ward, Indore on 17 October, 1968
12. Before leaving this topic we wish to add here that there is no substance in the contention of the tax officer that the tax liability of the earlier years can be paid out of the general reserve in view of the judgment dated June 1, 1973, of the Division Banch of this court in I. T. Reference No. 102 of 1969 (Gwalior Webbing Co. Ltd. v. Commissioner of Income-tax).
Commissioner Of Income-Tax, West ... vs Gungadhar Banerjee And Co. (P) Ltd on 22 March, 1965
And in Gangadhar Banerjee's case of the report, the Supreme Court says thus :