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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 “The Nehru Trust for Cambridge University” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.
Circular No. 458-Income Tax This question [as to whether the credit balance in the profit and loss account can be treated as a reserve] was considered by the Supreme Court in CIT v. Century Spg. & Mfg. Co. Ltd. [1953] 24 ITR 499 in the context of rule 2(1) of the Schedule to the Business Profits Tax Act under which the reserves were treated as forming part
Circular : No. 459-Income Tax I am directed to invite the reference to this Ministry’s Circular No. 429 [F. No. 275/35/85-IT(B)], dated 8-8-1985, wherein the rates of income-tax deductions during the financial year 1985-86 from the payment of income chargeable under the head “Salaries” under section 192 were intimated.
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 “Shri Sai Baba Sansthan Shirdi” for the purpose of the said section for the period covered by the assessment years 1986-87 to 1988-89.
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 “Hanumanprasad Poddar Smarak Samiti, Gorakhpur” for the purpose of the said section for the period covered by the assessment years 1984-85 to 1987-88.
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 “Shri Shiva Balayogi Maharaj Trust, Bangalore” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.
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 “Christian Service Society, Midnapore” for the purpose of the said section for the period covered by the assessment years 1983-84 to 1987-88.
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 “Jhana Prabhodhini, Pune” for the purpose of the said section for the period covered by the assessment years 1984-85 to 1986-87.
Notification No. G.S.R.870(E)-Income Tax In exercise of the powers conferred by sub-section (8) of section 32A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby directs that the deduction allowable under this section shall not be allowed in respect of any ship or aircraft acquired or any machinery or plant installed after the 31st day of March, 1987.
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 “Arogyavaram Development Society, Madanapalle” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.
