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Showing 301 to 303 of 303 Records
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1995 (9) TMI 4
Assessee, managing agent got car from company - Question was whether the said benefit can be included in the income of the managing agent by virtue of sub-clause (iii) in the definition of income u/s 2(6) - The finding is that the assessee herein did not hold a substantial interest in the relevant company. - Hence impugned sub-clause cannot be applied to the case of assessee - Once this is so, no further question arises
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1995 (9) TMI 3
Tribunal was right in holding that inasmuch as the assessee did not appear before the original Income-tax Officer in response to the notice asking it to show cause why penalty should not be imposed, and had made no oral submissions but had only made a reply in writing it was in order for the successor Income-tax Officer to have imposed the penalty without giving a fresh notice to the assessee or hearing the assessee
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1995 (9) TMI 2
Whether, the finding of the Tribunal that in applying section 79 of the Act, only the business loss should be taken into account and not the unabsorbed depreciation or unabsorbed development rebate, is erroneous in law - Held, no, because when s. 79 speaks of loss, it does not include unabsorbed depreciation/unabsorbed development rebate.
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