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Income Tax Case Laws - Section: 107

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Cases for Section: 107
Showing 1 to 5 of 5 Records

2005 (9) TMI 61 - BOMBAY High Court

Vissanji Sons And Company Limited Versus Commissioner of Income-Tax.

Whether Tribunal was justified in holding that only the cumulative preference dividends relating to the previous year amounting to Rs. 65,000 could be deducted in working out the undistributed income, which was liable to additional income-tax u/s 104? - we affirm and restore the alternative finding recorded by ITO under section 104 holding that the dividend on accumulated preference shares actually distributed within twelve months immediately following the expiry of the previous year amounting to Rs. 1,30,000 fell short by above 1 per cent. on statutory requirement considering the capital of ....... - .......

1994 (10) TMI 94 - ITAT CHANDIGARH

Thakur Devi Investments Private Limited. Versus Assistant Commissioner Of Income-Tax.

....... - ...... e repayment of loans. We have also seen that the investments made by the assessee in land and the advances made in future to M/s. Munjal Showa Ltd. do not justify the retention of profit by the assessee. 14. We, therefore, reject the assessee s plea that no tax was leviable under section 104. We hold that the assessee was required in law to distribute its profit by way of dividend, which was not done. 15. In the result, the appeal stands rejected

1993 (4) TMI 47 - GAUHATI High Court

Tarajan Tea Company Pvt. Limited Versus Commissioner Of Income-Tax

....... - ...... he Tribunal was justified in holding that the decision of the board of directors was only a proposal and the declaration was made by the annual general meeting. The two questions referred are answered in the affirmative, that is, in favour of the Revenue and against the assessee. A copy of this judgment under the signature of the Registrar and seal of the High Court be transmitted to the Appellate Tribunal. There will be no direction as to costs.

1989 (5) TMI 7 - CALCUTTA High Court

Ganesh Properties Pvt. Limited Versus Commissioner Of Income-Tax

....... - ...... ger dividend would have left the assessee short of liquidity. We, therefore, answer the question referred under section 66(1) in the negative and in favour of the assessee. In view of our answer to the question referred to us under section 66(1), the question referred under section 66(2) need not be answered separately. We, therefore, decline to answer the latter question. There will be no order as to costs. BHAGABATI PRASAD BANERJEE J. -I agree.

1982 (5) TMI 121 - ITAT MADRAS-B

V. Ramakrishna Sons Pvt. Limited. Versus Income-Tax Officer.

....... - ...... lawfully rectified, neither the taxpayer nor the revenue can make a grievance of it as no one has a vested right to the fruits of the mistake committed by another. 7. In the result, the appeal in respect of the rectification order dated 3-11-1978 is allowed and the impugned order is cancelled. The appeal in respect of the order dated 10-3-1979 is dismissed and the order of the Commissioner (Appeals) confirming the validity of the order is upheld.


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