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Judgment Search Results Home > Cases Phrase: debentures companies act Court: andhra pradesh Year: 1986 Page 1 of about 1 results (0.404 seconds)

Nov 12 1986 (HC)

Commissioner of Income-tax/Wealth-tax Vs. Polisetty Somasundaram Chari ...

Court : Andhra Pradesh

Decided on : Nov-12-1986

Reported in : [1990]183ITR377(AP)

..... indicate prominent modes to convey the width of the expression 'invest'. investment involves laying out the amount in partnership firms, shares in joint stock companies, real estate business and such other concerns or businesses. in the process of investment, an element of risk is involved and the expectation of ..... stretched to house property or capital gains apart from the holding of shares, debentures, stocks or other securities, the supreme court held that 'investment' covers acquisition of house property or capital gains and 'investment' primarily means the act of laying out moneys in the acquisition of some species of property. in ..... or both. the lending as such is not prohibited if adequate security are taken care of section 13(2)(h) interdicts investment and the act of investment alone is sufficient to deny the exemption. in view of this seminal distinction, the revenue endeavoured to bracket the transaction under investment ..... charitable or religious institution, any income thereof - (i) if such trust or institution has been created or established after the commencement of this act and under the terms of the trust or the rules governing the institution, any part of such income enures or (ii) if any part ..... of educational institutions of any kind. the income-tax officer found that the objects were within the provisions of section 2(15) of the act but, however, held that the income of the institution is taxable as the entire funds of the institution were lent to messrs. polisetty .....

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