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Showing 101 to 103 of 103 Records
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1973 (3) TMI 3
Whether the assessments made on the firms are valid in law - assessments on the firm were saved from the bar of limitation by the second proviso to s. 34(3) - hence assessments are valid - set aside the order of the High Court - question referred are answered in the affirmative and in favour of the revenue
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1973 (3) TMI 2
Whether the assessee was entitled to claim deduction of compound interest under section 9(1)(iv) of the Indian Income-tax Act, 1922. The High Court answered that question in the negative and in favour of the department - order of HC was correct - compound interest is payable not on the-capital charge but on that part of the interest on which he has agreed to pay interest. That is not the capital taken note of by section 9(1)(v)
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1973 (3) TMI 1
Voluntary liquidation of a company- capital gains - Whether Tribunal was right in holding that the sum of Rs. 95,944 is liable to tax under section 12B(2) - the difference between the language of the first proviso to section 12B(1), as inserted by Finance (No. 3) Act of 1956, and the third proviso to section 12B(1), as inserted by Act 22 of 1947, cannot be of much material help to the revenue
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