Meaning of “Amount “

Case Name : CIT vs. Needle industries (p.) Ltd. 

Citation : [1998] 233 ITR 370 (mad.)

Court : Madras high court

Section : 237 to 245

Meaning : The expression ‘amount’ in section 244(1a) would include the amount of interest levied under sections 139(8) and 215 of the act and collected in pursuance of an order of assessment, which was refunded.

Case Name : CIT vs. Smt. Lalita m. Bhat 

Citation : [1996] 221 ITR 257 (bom.)

Court : Bombay high court

Section : 86

Meaning :  The ‘amount’ referred to in section 86(v), means the amount receivable by the member of the association of persons out of its income without deduction of the income-tax paid by the association of persons thereon.

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