"January, 1986" Archive

Imposition of penalty solely on the basis of surrender not sustainable

Commissioner Of Income-Tax Vs M. George & Brothers (Kerala High Court)

Hon'ble Kerala High Court in the case of CIT v. M. George & Bros. [1986] 160 ITR 511 held that where the assessee for one reason or the other agrees or surrenders certain amounts for assessment, the imposition of penalty solely on the basis of the surrender will not be well-founded....

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Notification No. S.O.556-Income Tax Dated 29/1/1986

Notification No. S.O.556-Income Tax (29/01/1986)

Notification No. S.O.556-Income Tax In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S.O. 5651, dated ...

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Notification No. S.O.950-Income Tax Dated 28/1/1986

Notification No. S.O.950-Income Tax (28/01/1986)

Notification No. S.O.950-Income Tax In continuation of this Office Notification No. 5185 (F. No. 203/30/83-ITA. II), dated 18-5-1983, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clau...

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Notification No. S.O.949-Income Tax Dated 27/1/1986

Notification No. S.O.949-Income Tax (27/01/1986)

Notification No. S.O.949-Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 (Thirty-five/one/three) of the Income-tax Act, 1961, rea...

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Notification No. S.O.948-Income Tax Dated 23/1/1986

Notification No. S.O.948-Income Tax (23/01/1986)

Notification No. S.O.948-Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961, read w...

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Circular No. 447-Income Tax dated 22-1-1986

Circular No. 447-Income Tax (22/01/1986)

Circular: No. 447-Income Tax The Central Board of Direct Taxes had occasion to consider the question whether the award received by a sportsman, who is not a professional, will be taxable in his hands or not. In the case of a sportsman, who is a professional, the award received by him will be in the nature of a benefit in exercise of his ...

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Notification No. S.O.648-Income Tax Dated 22/1/1986

Notification No. S.O.648-Income Tax (22/01/1986)

Notification No. S.O.648-Income Tax In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies " Delhi Catholic Archdiocese " for the purpose of the said section for the period covered by the assessment years 1984-85 to 1987-88....

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Notification No. S.O.647-Income Tax Dated 22/1/1986

Notification No. S.O.647-Income Tax (22/01/1986)

Notification No. S.O.647-Income Tax In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies " Govind Bhawan Karyalaya, Calcutta " for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88...

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Notification No. S.O.475-Income Tax Dated 13/1/1986

Notification No. S.O.475-Income Tax (13/01/1986)

Notification No. S.O.475-Income Tax In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies "The Catholic Diocese of Meerut" for the purpose of the said section for the period covered by the assessment years 1981-82 to 1987-88. ...

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Notification No. S.O.474-Income Tax Dated 13/1/1986

Notification No. S.O.474-Income Tax (13/01/1986)

Notification No. S.O.474-Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies "Bhartiya Adimjati Sevak Sangh" for the purpose of the said section for the period covered by the assessment years 1983-84 to 1986-87....

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