Case Name : CIT Vs. K. Srinivasan Citation :[1972] 83 ITR 346 (SC) Court : Supreme Court Section : 4 Meaning : The expression ‘income-tax’ used in the finance act and the income-tax act includes surcharge and additional surcharge wherever provided in the act. The surcharge, the special surcharge and the additional surcharge form part […]
Read MoreAuthor: Prashant Thakur
The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.
Meaning of “Information/reason”
Case Name : H.L. Sibal Vs. CIT Citation :[1975] 101 ITR 112 (PUNJ. & HAR.) Court : Punjab & Hariyana High Court Section : 132 Meaning : The word ‘information’ has been defined in the shorter oxford dictionary as ‘that of which one is apprised or told’. The word ‘reason’ has been defined as ‘a […]
Read MoreMeaning of “Institution”
Case Name : ITO Vs. Model Institute Of Education & Research Citation :[2001] 77 ITD 375 (ASR. – TRIB.) Court : ITAT-Amritsar Section : 10(22) Meaning : The word ‘institution’ should not be linked with the status provided in the act. The institution can have any status, can be a company, trust, firm or any […]
Read MoreMeaning of “Intimation”
Case Name : Lakshmi Enterprises Vs. Dy. CIT Citation :[1998] 64 ITD 1 (DELHI-TRIB.) Court : ITAT-Delhi Section : 143 Meaning : The expression ‘intimation’ in section 143(1) stands in contradistinction to the word ‘order’ as mentioned in sub-section (3) of section 143. The word ‘intimation’ has not been defined anywhere. Therefore, it has to […]
Read MoreMeaning of “Invested”
Case Name : Cit Vs. Birla Charity Trust Citation :[1987] 34 TAXMAN 504 (CAL.) Court : Kolkata High Court Section : 13 Meaning : The expression ‘invest’ in section 13(2)(h) connotes a positive act on the part of the trust whereby the funds of the trust are laid out or committed in any particular property […]
Read MoreMeaning of “Is received”
Case Name : CIT Vs. Dharamdas Hargovandas Citation :[1961] 42 ITR 427 (SC) Court : Supreme Court Section : 5 Meaning : The words ‘is received’ are not terms of art and their meaning must receive colour from the context in which they are used. In the context of section 5(1)(a), these words could only […]
Read MoreMeaning of “It”
Case Name : Patel Engineering Ltd. Vs. Dy. CIT Citation :[2004] 84 TTJ (MUM. – TRIB.) 646 Court : ITAT-Mumbai Section : 80-IA Meaning : The word ‘it’ in sub-clauses (a), (b) and (c) of clause (i) of sub-section (4) of section 80-ia has been used to denote ‘enterprise’. Case Name : Gvpr Engineers Ltd. […]
Read MoreMeaning of “Investment/deposit”
Case Name : Director Of Income-Tax (Exemption) Vs. Alarippu Citation :[2000] 111 TAXMAN 511/244 ITR 358 (DELHI) Court : Delhi High Court Section : 11 Meaning : The expressions used in the provisions of sections 11(5) and 13(1)(d) are ‘investment’ and ‘deposit’. The former expression means to lay out money in business with a view […]
Read MoreMeaning of “Work”
Case Name : Nitin M. Panchamiya Vs. Addl. CIT Citation : [2012] 19 TAXMANN.COM 200/50 SOT 468/148 TTJ 96 (MUM.) Court : Mumbai High Court Section : 194 TO 206C Meaning : The expression ‘work’ has not been defined for the purpose of section 194c. The normal meaning of the expression ‘work’ should, therefore, apply. […]
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