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Showing 61 to 64 of 64 Records
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1969 (1) TMI 4
Assessee, an agent procuring paddy, paid levy, penalty for supply of paddy not conforming to quality requirements - Whether, the amount paid by the assessee by way of penalty to the Government of Orissa was an admissible deduction u/s 10(1) of the Income-tax Act, 1922 - Held yes
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1969 (1) TMI 3
Business of manufacture and sale of sugar and supply of electricity - an order for recovery was made under section 46(7) of the Income-tax Act, 1922 - argument that the movables were of no use to any person other than the purchaser of immovable property is without substance - sale of immovable property can not be resorted to only after adopting other methods - assessee's appeal is dismissed
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1969 (1) TMI 2
The Supreme Court held that an order passed under section 23A of the Income-tax Act, 1922, directing payment of additional supertax is not an order of assessment. The period of limitation under section 34(3) does not apply to such orders. The appeal was allowed, and the order passed by the High Court was set aside. The appellant was entitled to costs.
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1969 (1) TMI 1
Assessee took on lease premises for a term of 99 years on a monthly rental - receipt of Rs.55,200 by the assessee was capital receipt because receipt was having all the character of capital payment being paid as premium or salami - Assessee's appeal allowed
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