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Judgment Search Results Home > Cases Phrase: rationale Court: income tax appellate tribunal itat madras Year: 1993 Page 1 of about 3 results (0.091 seconds)

Apr 28 1993 (TRI)

Gopal Srinivasan Trust Vs. Assistant Director of Income-tax

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Apr-28-1993

Reported in : (1993)46ITD157(Mad.)

..... the rate of 65 per cent as laid down in the it act itself, without allcwing the basic exemption as laid down in the finance act". according to shri bose, the rationale behind the said ruling is equally applicable to the cases before us. in other words, the assessee-trusts before us are not entitled to deduction under section 80l of the ..... other persons. to deal with such cases, the income-tax act renders them liable to pay the tax for no other reason than the convenience of assessment and collection. the rationale behind such a mode of assessment is, to quote viscount cave williams v. singer 7 tax cases 387: the object of the acts is to secure for the state a .....

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Nov 05 1993 (TRI)

Pondicherry Industrial Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Nov-05-1993

Reported in : (1994)49ITD190(Mad.)

..... open payment from the debtor without any appropriation of the amount as between capital and interest, the sum received is first appropriated to interest and only thereafter to capital. the rationale behind the said principle is that it is to the creditor's advantage to attribute payments to interest in the first place, leaving the interest-bearing capital intact.44. the ..... department, and proceed to resolve the issue before us in the light of the legal consequences of the 1981 scheme and the transactions put through thereunder.33. the genesis and rationale of the scheme is not far to seek. the assessee was set up to promote industrial development particularly in the small-scale sector. the said objective was sought to be ..... ,657 minus rs. 3,96,970).13. shri philip george, the learned counsel for the assessee, took us through the facts and circumstances of the case and contended that the rationale behind the scheme was to provide funds to the assessee so that it could carry on its business of promoting and developing industries, without being hampered in any fashion by .....

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Apr 27 1993 (TRI)

Oriental Hotels Ltd. Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Apr-27-1993

..... time being approved by the central government for purposes of section 33 of the act. as we see it, the said reference to section 33 has a limited role and rationale, namely, to identify the conditions which a hotel must satisfy in order to be eligible to the benefit of extra depreciation allowance. the reference to section 33 contained in item .....

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