"January, 1967" Archive

Notification: S.O.349 Date of Issue: 24/1/1967

Notification: S.O.349 24/01/1967

In pursuance of sub-section (1) of section 54A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby approves the following investments for the purposes of that section in re...

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ITO must estimate Income on fair basis and not arbitrarily if Assessee not maintained sufficient books of account

Badrinath Agarwal. Vs Commissioner of Income-Tax, U. P. (Allahabad High Court)

Badrinath Agarwal v. CIT (Allahabad High Court) 65 ITR 242 (All. ) In estimating the income the conditions of trade obtaining and the average margin of profit in the particular line of business are to be borne in mind. It is clear that these factors in the present case have been kept in view and, therefore, it is not possible to say that ...

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Notification: S.O.289 Date of Issue: 19/1/1967

Notification: S.O.289 19/01/1967

In pursuance of clause (42A) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 31st day of May, 1966, as the later date for the purposes of the period referred to in the said clause ...

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Notification: S.O.372 Date of Issue: 11/1/1967

Notification No. S.O.372 11/01/1967

In exercise of the powers confered by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Madurakali Amman Temple (Siruvachur), Perambular Taluk, Tiruchirapalli Distt., Madras, to be of historic, archaeological and artistic importance for the purpose of the said section ...

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CBDT Letter : F. No. 12/19/64-IT(A-I), dated 2-1-1967

Letter : F. No. 12/19/64-IT(A-I 02/01/1967

Reference is invited to the Central Board of Direct Taxes letter F. No. 12/19/64-IT(B), dated 22-2-1966 , where in it was intimated that the house rent allowance given at flat rates may be treated as exempt from income-tax without verification of the fact whether the employee concerned had paid any house rent and the allowance exempted is...

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