dispose of surplus goods and to purchase goods on behalf of the Government of India. A considerable portion of the surplus materials left in India ... Director was not selling surplus goods for profit but he was merely disposing of the surplus materials by way of realisation and the transactions were
respective contract. Such materials, though in the
custody of the appellant, remained the property of the
Government and any surplus had to be returned ... cost of the
materials supplied by the Government. The Appellate
Tribunal, however, held that the cost of the materials
supplied by the Government could
hands of the assessees the surplus would be only a capital receipt. As the facts were materially different in Ramkumar Agarwalla 's case relied ... worth of shares and the excess price realised would definitely be a surplus to the assessee. The objects, as spelt out in the letter, were
material for manufacturing of hosiery articles nor had it maintained production register recording the manufacture of such materials. The additions, therefore, as was made ... into consideration in the absence of any other materials in determining the availability of the surplus for declaration of dividend. In the aforesaid view
surplus, that is to say, a surplus of receipt over expenditure, it cannot be said that the educational institution exists for profit, if that surplus ... import of art silk yarn, raw silk, cotton yarn and other raw materials as well as accessories required by the members for the manufacture
Railway Rates Tribunal, considering the
material on record in the light of the decision of the Court
in case, held that there was no evidence ... argued by appellant's
counsel, that the Railways are earning some surplus income,
that by itself is no ground to hold that the frieght
assessee had capitalised whatever surplus income was in his hands in the foreign country and as such there was no material upon which the Tribunal
dividend, even if the same did not constitute a reserve, was a surplus. The Tribunal referred to Clause (ii) of Rule 2 of Schedule ... expression "surplus" in Rule 2 of Schedule II to the C. (P.) S.T. Act, 1964. The material portion of the said provision
15th December, 1969. I could not find any material to support Shree Venkatratnam's argument that this payment was out of net cash available ... time of payment of advance tax, the appellant had no adequate cash surplus and the company had resorted to the overdraft specifically for this purpose
company had been able voluntarily, at its own freewill, to sell those surplus dollars, if in that case the resulting profit should be regarded ... matter to its simplest elements, the appellant company has sold a surplus stock of dollars which it had acquired for the purpose of effecting
