Supreme Court India — Judgments of 1998
79 reported judgments of the Supreme Court India from 1998.
- GODHRA ELECTRICITY CO. LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 73
Income calculation The principle of real income is shown to be the increase in the price of electricity as a realization of the increase in its rates, but the increase in the amount due to legalizatio…
- A.S. GLITTRE D/5 I/S GARONNE v. COMMISSIONER OF INCOME-TAX 1998 PTD 87
Non-Residential Shipping Business Estimated Advance Tax Interest Scope of Section 172 (7), Indian Income Tax Act, 1961, Advance entitled to such additional refund Taxes must be treated as tax and inte…
- COMMISSIONER OF INCOME-TAX v. SHRI IRON FOUNDRY ENGINEERING WORKS LTD. 1998 PTD 101
Company unearned income surplus tax reference amount added to company earnings because penalties for concealment of land by tribunal were not canceled, money was not taken to include total income to d…
- SAMARITAN SOCIETY v. COMMISSIONER OF INCOME-TAX 1998 PTD 104
Charitable Purposes The Charlotte Trust waiver business knowing that the trustee's goods were authorized to operate the charity trustees is not relevant The Trust is entitled to waivers in the Indian …
- PANCHAMAHAL STEEL LTD. v. U.A. JOSHI, I.T.O. 1998 PTD 105
The revised Return Draft Evaluation Order with the objections of the IACITO of the ICCITO was inserted after the Draft Evaluation Order which amended the Indian Income Tax Act, 1961, Sections 139 (5) …
- ANDHRA BANK LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 110
Status of assessment Examples Changing the accounting method in relation to interest on securities due to information difficulties obtained from a foreign source Voting is not valid The Indian Income …
- DELHI STOCK EXCHANGE ASSOCIATION LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 113
Exceptionally Charitable Purpose The company objectifies holding a stock exchange and promoting and organizing business in stocks, shares, etc. Shareholders are not barred from declaring profits or de…
- COMMISSIONER OF INCOME-TAX v. BANQUE NATIONALE DE PARIS 1998 PTD 120
Company Super Profit Tax Chargeable Profit deduction Non-dependent company which has not made profit payment arrangements in India Interest on Government Securities, Income Tax Act is Profit under Sec…
- MALWA VANASPATI AND CHEMICAL CO. v. COMMISSIONER OF INCOME-TAX 1998 PTD 128
Business expense Sales tax raw material used for a purpose other than a specific penalty consists of both compensation and penalty components that will be paid to distribute the amount in compliance w…
- THIAGARAJAR CHARITIES v. ADDITIONAL COMMISSIONER OF INCOME-TAX 1998 PTD 131
Charitable Purposes The difference between the trust options and the powers conferred on the Charity Trust exemption business trusts is that the trust truck is authorized by the trustee to determine w…
- CHILLIES EXPORTS HOUSE LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 147
Industrial Company Tax Concession Rate The meaning of the industrial company, the series of activities initiated, including smoke prepared for processing and exporting fumigation peppers, whether the …
- MADRAS INDUSTRIAL INVESTMENT CORPORATION LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 158
Business Expenses General Principles Company Debentures Exemption Are Revenue Expenses Relative to Compensation Every Year Relative to Accounting Year Cut Expenses Compensation Indian Income Tax Act, …
- BROOKE BOND INDIA LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 169
Capital or revenue expenditure in relation to the additional issue of shares is the expense of the company directly related to the expansion of capital base, Income Tax Act, 1961, Section 37…
- PUNJAB STATE INDUSTRIAL DEVELOPMENT CORPORATION LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 173
Capital or Revenue Expenses General Principles Companies pay companies fees to the Registrar of Companies to increase capital expenditure The Indian Income Tax Act, 1961, Section 37 [CITV Cousin Chand…
- B.N. SHARMA v. COMMISSIONER OF INCOME-TAX 1998 PTD 178
The amount of fines to cover the income of the fines is a crime [CIT against BN Sharma (1977) 110 ITR 538 overturned]…
- COMMISSIONER OF INCOME-TAX v. AMALGAMATIONS (PVT.) LTD. 1998 PTD 180
Business Expenses General Principles Expenses must be related to business holding and subsidiaries The maximum compensation paid to directors of sailing subsidiaries under the Companies Act is the Ind…
- COMMISSIONER OF INCOME-TAX v. PODAR CEMENT (PVT.) LTD. 1998 PTD 200
Owner of a home property means the owner is the owner of the section 22, the owner is entitled to receive income on his own. In the Nature Income Tax Act, 1961, Sections 22 and 27 of the Indian Income…
- PREM FAMILY (PVT.) (SPECIFIC) TRUST v. COMMISSIONER OF INCOME TAX 1998 PTD 241
Law trust reference question! Xing was in fact a question In fact there was a question from the Tribunal's High Court order allowing the application of revenue under section 25 (2), which separated th…
- COMMISSIONER OF INCOME-TAX v. ARTEX MANUFACTURING CO. 1998 PTD 556
Business Business Income Balance Charge Profit Section 41 (2) The sale of the entire business in lieu of tax levied as a concern by the company established by the company to write down the value of th…
- COMMISSIONER OF INCOME-TAX v. ELECTRIC CONTROL GEAR MFG. CO. 1998 PTD 573
Business Income Balance Charges Profit greater than the sales price of the entire business selling assets of a company established by former partners in lieu of taxation tax under Section 41 (2), Indi…
- V. S. M. R. JAGADISHCHANDRAN v. COMMISSIONER OF INCOME-TAX 1998 PTD 577
Reference Capital gains Calculated capital gains as cost of acquisition or cost of improvement Indian Income Tax Act, 1961, Sections 45, 48, 49 and 256 (2) No question was raised regarding the law…
- THIRU AROORAN SUGARS LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 581
Agricultural Income Business Assessment of gross income income from business and agriculture, which is exempt from income tax. R 7 (2) (a) The value of the market of agricultural produce, which is gen…
- NATIONAL RAYON CORPORATION LTD v. COMMISSIONER OF INCOME-TAX 1998 PTD 644
The Company is a provision for the calculation of Capital Amount allocated to the Super Profit Tax Gratuity Reserve, which includes the Capital Indian Super Profit Tax Act, 1963, Schedule II [CITV Pic…
- UPPER GANGES SUGAR MILLS LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 660
Section 80G Trust Donation for Charitable Purposes One trust that does not have a deduction under the Religion Trust 80G will be eligible for special deduction. Section 80G of the Indian Income Tax Ac…
- VELLORE ELECTRIC CORPORATION LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 671
Preferred Industry Special Deductible Income Tax Act, 1961, Section 80I [CIT (Ed) v Valor Electric Corporation Limited (1979) 119 ITR 523 reversed at this point]…
- INDIA LEATHER CORPORATION (PVT.) LTD v. COMMISSIONER OF INCOME-TAX 1998 PTD 884
The company, which is not interested in the public at large, has the additional tax rebate on non-profit profits. The company is mainly engaged in the manufacture or processing of goods. 51% of the co…
- COMMISSIONER OF INCOME-TAX v. SIVAKAMI MILLS LTD. 1998 PTD 889
Guaranteed purchase of machinery based on deferred payment by bank to assure payment of installments through business expense assessment is acceptable as expenditure on Indian Income Tax Act, 1961, se…
- TUTICORIN ALKALI CHEMICALS AND FERTILIZERS LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 900
Prior to starting a business, borrowers receive income from income by benefiting from investing funds.…
- RM. ARUNACHALAM v. COMMISSIONER OF INCOME-TAX 1998 PTD 914
Capital Gains Capital Gains Calculated deduction State duty payments can be considered as cost of acquisition or cost of improvement of capital assets The sale of inherited property under a will does …
- GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION v. COMMISSIONER OF INCOME-TAX 1998 PTD 930
Exemption is not limited to non-industrial activities, development of cities, towns and villages State Industrial Development Corporation Industrial development involves the planning, development or i…
- COMMISSIONER OF INCOME-TAX v. RAMBAL PVT. LTD 1998 PTD 936
Development rebate machinery used for the manufacture of goods listed in Schedule VI is not required to be used exclusively for the manufacture of such items; Will not evaluate to provide high rate de…
- COMMISSIONER OF INCOME-TAX v. RATTAN TRUST 1998 PTD 940
Impact of amendments to section 13 of the Income Tax Act and section 21A of the Wealth Tax in section 13A of the Income Tax and Wealth Tax exemptions from charitable purposes income tax and wealth tax…
- SUNDARAM SPINNING MILLS v. COMMISSIONER OF INCOME-TAX 1998 PTD 949
Depreciation Extra Shift Allowance Calculation Procedure The extra shift allowance is calculated by counting the number of days during which this concern did not actually count double shift or triple …
- SOUTH INDIA VISCOSE LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 950
Depreciation Extra Shift Allowance Calculation Procedure Extra shift allowance should be calculated based on the number of days during which the concern is not actually double shift or triple shift ex…
- NORTH BENGAL SUGAR MILLS CO. (P.) LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 1450
Company unlicensed profits Restrictions on remittances from Pakistan to India, estimated by the Sugar Mill owner in East Pakistan, cannot be received in India within the stipulated period for the decl…
- KARTIKEYA V. SARABHAI v. COMMISSIONER OF INCOME TAX 1998 PTD 1484
Capital Transfer of Capital Assets Section 2 (47) Reduction in the value of a company's shares The reduction of the amount of money for the survival of rights in the shares is taxable on such deductio…
- COMMISSIONER OF INCOME-TAX v. STEPWELL INDUSTRIES LTD. 1998 PTD 1537
Proof of deduction in weight of export market development allowance Condition Exemption Expense should be spent solely and solely on one of the purposes mentioned in sub-clauses of section 35B (1) (b)…
- COMMISSIONER OF INCOME-TAX v. HERO CYCLES (PVT.) LTD. 1998 PTD 1612
Export market development allowances contribute to weight loss, weight gain export promotion, establishments, bonuses, salaries with salaries, direct salary for directors, postage, telephone and teleg…
- COMMONWEALTH TRUST LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 1755
Capital gains Capital Gains Count Capital Pricing Asset in respect of which section 50 (1) has been acquired is not available to such person at this date, the replacement of the fair market value valu…
- LAKSHMAN SWARUP OM PRAKASH v. UNION OF INDIA 1998 PTD 1981
Loan Priority of Asset Loans of Taxes Receivable Section 226 (4) Estimating money that is related to securities, whose rate is deductible for deferred distribution by the debtor's creditors during suc…
- MADDI VENKATARAMAN & CO. (P.) LTD v. COMMISSIONER OF INCOME-TAX 1998 PTD 1985
Business expenses are penalties and penalties…
- RASHIK LAL & CO. v. COMMISSIONER OF INCOME-TAX 1998 PTD 2001
HUF Section 40 (b) applies to the Commission for the disallowance of technical business expenses paid to a partner of the HUF as a partner in the representative capacity commission paid to the HUF par…
- MISS P. SARADA v. COMMISSIONER OF INCOME-TAX 1998 PTD 2118
Dividend Dividend Loan of shareholders which the company had a particular interest in which the public was not interested and who collected the profits did not keep the balance of the loans with the c…
- AUTO AND METAL ENGINEERS v. UNION OF INDIA 1998 PTD 2124
Order Determination of Diagnosis Limit An essential component of the evaluation process is moving the assessment from 1 to 5 153 the entire assessment process, beginning with the return tiling phase u…
- COMMISSIONER OF INCOME-TAX v. SERCON (PVT.) LTD. 1998 PTD 2130
Appeal to the court that the statement of the case and the order of the tribunal should form part of the paper book.…
- NATIONAL THERMAL POWER CO. LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 2135
Appeal to appeal to the Tribunal about the law arising from the facts found by the Income Tax Authorities and before the Tribunal for the first time before the Tribunal having the jurisdiction to deci…
- COMMISSIONER OF WEALTH TAX v. ELLIS BRIDGE GYMKHANA 1998 PTD 2139
Tax Compensation Dependency of the Association of Individuals The difference between the Income Tax Act and the Wealth Tax Act Club as an association of the Income Indian Wealth Tax Act, 1957, Section…
- KISHAN LAL v. UNION OF INDIA 1998 PTD 2588
The application for a waiver or waiver of interest under the CBDT order under section 220 (2A) is a quasi-judicial order for the recovery of tax over time in tax collection and is supported by the Ind…
- COMMISSIONER OF INCOME-TAX v. ATUL PRODUCTS LTD. 1998 PTD 2601
Reference Depreciation Depression, whether allowed on guesthouse buildings and other assets, is a question of law (Indian Income Tax Act, 1961, Sections 32 and 256)…
- COMMISSIONER OF INCOME-TAX v. URMILA RAMESH 1998 PTD 2603
Dividend Dividends Profit Dividend Profit Dividends Option and Section 2 (22) Effect of Section 2 (22) Shareholders receive the Income Tax Act, 1961, Sections 2 (22) and 41 (2). The distribution of th…
- JAGDISH A. SADARANGANI v. GOVERNMENT OF INDIA 1998 PTD 2618
Impact of the imposition of section 264 of section 264 of section 269 UC (4) of section 269 UC (2) application of purchase of immovable property by powers of the Central Authority Law (4) shall provid…
- COMMISSIONER OF INCOME-TAX v. CONTINENTAL CONSTRUCTION LTD. 1998 PTD 2625
Business Expenses Company Sailing Compensation on the Directors' Expenses which Sections 40 (c) and 40 A (5) (a) pay for the employment outside India to a maximum extent for the purposes of calculatio…
- COMMISSIONER OF INCOME-TAX v. PIGMENTS INDIA LTD. 1998 PTD 2635
Reference Damage Damage assessment There will be different questions regarding the delivery of care related to the relevant provisions of the year 1986 87 and 1987 88. Pigments India Limited (1997) 22…
- COMMISSIONER OF INCOME-TAX v. THIRUMALAISWAMY NAIDU & SONS. 1998 PTD 2637
Income Remittance of Revenue from Buyers Collecting Probable Charges for Sales Tax Deductions are allowed by the Government Assissee to reduce the amount of sales tax paid by the High Court. Estimates…
- COMMISSIONER OF INCOME-TAX v. BEDI & COMPANY (PRIVATE) LIMITED. 1998 PTD 2639
High Court Reference Options Laws and fact questions mixed…
- S. RM. M. CT. M. TIRUPPANI TRUST v. COMMISIONER OF INCOME-TAX 1998 PTD 2644
Charitable Purposes A Deposit Retirement Waiver Revenue Code should apply to Government Securities only if the condition applies only when the trust building is exempt with more than 25% (or Rs. 10,00…
- W.T. SUREN & CO. LTD. v. COMMISSIONER OF INCOME TAX 1998 PTD 2650
The difference in business expense gratuity return compensation and mortgage is paid to the holding company, which is part of the Essex business, a subsidiary closed and transferred to the holding com…
- BHARAT COMMERCE AND INDUSTRIES LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 2668
Business expense Interest interest is deducted on failure to pay advance tax until the statutory determination of non-profitable Indian Income Tax Act, 1961, Sections 37, 139 and 215 (amended before a…
- COMMISSIONER OF INCOME-TAX v. PARMESHWARI DEVI SULTANIA 1998 PTD 2679
Article 293 of the Civil Court has jurisdiction to search for confiscated articles and to search for confiscated articles and may be ordered to be preserved. No person may file an objection which is n…
- COMMISSIONER OF INCOME-TAX v. S. BALASUBRAMANIAN 1998 PTD 2706
Estimates of the development waiver requirements for grant machinery should be used for the business of torture for 8 years. Partial distribution of Hindu undivided family and sale of third party with…
- COMMISSIONER OF INCOME-TAX v. U.P. FOREST CORPORATION 1998 PTD 2716
Local authority waiver means local authority does not mean State Forest Corporation is a local authority that exempts the Indian Income Tax Act, 1961, section 10 (20) of the Indian General Clause Act,…
- JASWANT RAI v. CENTRAL BOARD OF DIRECT TAXES AND REVENUE 1998 PTD 3528
Income penalties will be considered for reduction in fines or additional factors resulting in voluntary disclosure The Commissioner determines a situation that guarantees a reduction in fines The boar…
- COMMISSIONER OF INCOME-TAX v. AMBALAL SARABHAI D. TRUST 1998 PTD 3535
Whether the trustee beneficiary will change the role of trust in the payment of income to a beneficiary, whether the trustee beneficiary can be assessed on a flat rate of 65 flat, 209 ITR 101 Indian I…
- COMMISSIONER OF INCOME-TAX v. DR. ANAND SARABHAI TRUST 1998 PTD 3540
Representative Diagnostic Trust is entitled to deduct the trust or beneficiary of the arbitral trust directly from the Indian Income Tax Act, 1961, Sections 164 and 166, special deduction trust relate…
- COMMISSIONER OF INCOME-TAX v. N.D. GEORGE POLOUS 1998 PTD 3541
Failure to file Advance Tax Interest Estimate Nil Returns filed for assessment year 1965 accepted 66 returns and could not be assessed for 1966 67 assessment years before issuance of Nail Demand Notic…
- COMMISSIONER OF INCOME-TAX v. CASTLE ROCK FISHERIES 1998 PTD 3544
Reference development waiver plant and machinery estimator do business in sea foods Development claim for sister leaving new concrete plant is 35% but permission is allowed 20% for plants and machiner…
- CENTRAL BOARD OF DIRECT TAXES v. OBEROI HOTELS (INDIA) PVT. LTD. 1998 PTD 3550
Special deductions from foreign enterprise contracts for modern hotel management include royalties, commissions or fees, including technical and professional services requiring the skills, expertise a…
- COMMISSIONER OF INCOME-TAX v. SHRI ARBUDA MILLS LTD. 1998 PTD 3585
The valid doctrine of the powers of the Commissioner to amend section 263 (1) under the Finance Act 1989, with the former effect from 1-6 1988, the powers of the Commissioner of Income-tax shall be ex…
- COMMISSIONER OF INCOME-TAX v. SHREE MANJUNATHESWARE PACKING PRODUCTS AND CAMPHOR WORKS 1998 PTD 3588
CIT Power's revision options for checking any action record under the Act may consider the record of the proceedings available at the time of examination by the CIT record, the ITO Indian Income Tax N…
- HUNGERFORD INVESTMENT TRUST LTD. v. INCOME-TAX OFFICERS 1998 PTD 3600
Examination Limit Exceptions Extend the assessment or expression of any direction in the appeal to the reviewer or to any wholly owned Indian subsidiary as an Indian Holding Company's agent as an immo…
- COCA-COLA EXPORT CORPORATION` v. INCOME-TAX OFFICER 1998 PTD 3612
The Indian branch of the jurisdiction of the re-evaluation of the foreign company in charge of paying domestic office and service charges to the foreign company has completed the approval of deduction…
- COMMISSIONER OF INCOM&TAX v. TATA IRON AND STEEL CO. LTD. 1998 PTD 3627
Depreciation depends on the amount received to obtain the original value of the asset loan. The asset loan or loan method or non-payment of debt will result in no change in the value of the asset, res…
- BHAVANA CHEMICALS LTD v. COMMISSIONER OF INCOME-TAX 1998 PTD 3630
Appellate Tribunal's authority raised the preliminary point that the ITO committed a mistake in making the assessment The tribunal accepted the preliminary objection, allowed the appeal, and presented…
- COMMISSIONER OF INCOME-TAX v. BHARTI DEVI SARABHAI 1998 PTD 3633
Representative Diagnostic Trustee Arbitration of trust or dependents Option to directly decide on the Special Income Tax Act, 1961, Sections 164 and 166, New Industrial Profession Trust is arbitrarily…
- COMMISSIONER OF INCOME-TAX v. H.H. MAHARANI USHA DEVI 1998 PTD 3635
Capital gains Capital assets inherited jewelry is formally recognized as central jewelry by the central government for the personal use of the rulers. Capital assets derived from the sale of jewelry a…
- KERALA STATE COOPERATIVE MARKETING FEDERATION LTD. v. COMMISSIONER OF INCOME-TAX 1998 PTD 3649
Cooperative Society Special deduction society engaged in marketing of agricultural products of its members Members do not need agriculture. Primary members of its members cannot be exempt from coopera…
- COMMISSIONER OF WEALTH TAX v. U.C. MEHATAB 1998 PTD 3666
Assets acquired by the right to receive net wealth compensation can be presented to the competent authority Indian Wealth Tax Act 1957, Sections 2 (e), (m) and 3 [CWT v. UC Mehtab (1970). 78 ITR 214 (…
- COMMISSIONER OF INCOME-TAX v. SHAAN FINANCE (PVT) LTD. 1998 PTD 3669
Investment Allowance Plant and Machinery Grant Requirements The plant and machinery must be used for the purpose of the Assisi's business. It is not required that the Assisi, who is leasing machinery …
- HARSHAD SHANTILAL MEHTA v. CUSTODIAN 1998 PTD 3678
Receipt of taxes In order to recover money accepted through a special court, banks and financial institutions through an illegal securities transaction, taxes must be preferentially withdrawn, not cov…
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