"June, 1991" Archive

Depreciation can be allowed only if Assessee claimed & Furnished details in ROI

Commissioner Of Income-Tax Vs Arun Textile (Gujarat High Court)

Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that two courses were open to the assessee, one being to claim depreciation and the other being forgo the depreciation and any course which is beneficial to the assessee could be adopted and the incidence of tax can be...

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Circular No. 606-Income tax dated 20-6-1991

Circular No. 606-Income tax (20/06/1991)

Circular No. 606-Income tax Central Board of Direct Taxes have received queries from the assessees, who are to file their returns of income for the assessment year 1991-92, regarding computation of surcharge on income-tax where the total income of a person exceeds Rs. 75,000. The queries are as to whether surcharge is to be computed on ...

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Circular No. 605-Income tax dated 12-6-1991.

Circular No. 605-Income tax (12/06/1991)

Circular No. 605-Income tax Reference is invited to Board’s Circular No. 597, dated 27-3-1991 containing detailed instructions on the use of new Form Nos. 16, 16A and 16B in lieu of the unified Form No. 16 which was in force from 1-4-1989 to 28-2-1991....

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Circular No. 604-Income tax dated 11-6-1991

Circular No. 604-Income tax (11/06/1991)

Circular No. 604-Income tax By Circular No. 590, dated 30-1-1991 (see Clarification 1), Indian nationals normally resident in Kuwait who were forced to return to India because of the Iraqi invasion, were made eligible for exemption under section 10(4)(ii ) of the Income-tax Act in respect of their NRE/FCNR accounts maintained by them up t...

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Circular No. 603-Income tax dated 6-6-1991

Circular No. 603-Income tax (06/06/1991)

Circular No. 603-Income tax In supersession of Circular No. 376, dated January 6,1984, Circular No. 445, dated December 31, 1985, Circular No. 481, dated February 20, 1987 and all other instructions on the subject, the Board have decided that the value of the perquisite arising by way of payment or reimbursement by an employer of expendi...

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Circular No. 602-Income tax dated 5-6-1991

Circular No. 602-Income tax (05/06/1991)

Circular No. 602-Income tax Reference is invited to Board’s order under section 9(2)(a) of the Gift-tax Act, 1958 (F. No. 143/6/91-TPL dated 30-5-1991) whereby the due date for filing of return of gifts for the assessment year 1990-91 has been extended from 30-6-1990 to 30-6-1991 in the case of those assessees who had made any gift or g...

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Circular No. 601-Income tax dated 4-6-1991

Circular No. 601-Income tax (04/06/1991)

Circular No. 601-Income tax Reference is invited to Circular No. 581 dated 28-9-1990 issued by the Board in respect of prima facie adjustments under section 143(1)(a) and the scope of section 154. It was clarified in the said circular that where an evidence in support of a deduction claimed under section 43B, or in support of certain oth...

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