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5 judgments · newest first · showing 1–5
The appellant, S.R. Kumar, sold agricultural lands situated within the municipal limits of Bina for the assessment years 1981-82 and 1983-84 and was assessed to capital gains tax. The Income Tax Officer levied tax, the Tribunal held that the profit was not capital gains, and the High Court dismissed …
The assessee, a charitable trust created in 1942, amended its deed in 1971 to require that surplus funds be invested in a company in which the trustees had a substantial interest. It claimed exemption of the interest earned on those investments under Section 11 of the Income Tax Act, relying on the …
Patel Brothers & Co. Ltd. claimed kitchen expenses for providing ordinary meals to its employees and out‑station customers for the assessment years 1969‑70, 1970‑71 and 1971‑72. The Income‑Tax Officer disallowed the portion relating to customers, classifying it as "entertainment expenditure" under …
The appellants owned a 30,885‑sq‑yd plot registered as agricultural land but located within municipal limits. They obtained permission under Section 63 of the Bombay Tenancy and Agricultural Lands Act to sell the land for non‑agricultural use and sold it to a housing cooperative in May 1969. The …
Union Carbide India Ltd, a manufacturer of flashlights, extruded aluminium cans (torch bodies) from aluminium slugs. The Central Excise authorities demanded a price list for levying excise duty under the Central Excise and Salt Act, 1944. The company contended that the cans were intermediate, not …
