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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 the estimate of income was arbitrary or capricious to justify holding that some error of law had been committed by the Tribunal in confirming the flat rate of 5% applied by the departmental authorities
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
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
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 less than the difference between the actual expenditure on the house rent and 10 per cent of the salary of the employee.
Notification: S.O.3646 The Society for the Care, Treatment and Training of Children in Need of Special Care, Sewri Hills, Bombay has been approved by the Indian Council of Medical Research, the prescribed authority, for the pruposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961).
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Kaleshwaraswamy Temple, Kaleshwaram (v), Manthani Taluk, Karimnagar District, Andhra Pradesh, to be of historic, archaeological and artistic importance for the purpose of the said section
Expenditure incurred to resist in a civil proceeding the enforcement of a measure-legislative or executive, which imposes restrictions on the carrying on of a business or to obtain a declaration that the measure is invalid would.
In the notification of the Central Board of Direct Taxes No. S.O. 2451, dated the 10th August, 1966, published on pages 1225 to 1229 in Part II, Section 3, Sub-section (ii) of the Gazette of India, Extraordinary, da
Notification: S.O.2451 This Notification contains Amendment to Income-tax (Second Amendment) Rules, 1966 carried out on 10th August, 1966 not reproduced here as it is already contained in the body of the Rules itself
Circular No.4-P – Income Tax Individuals, Hindu undivided families, unregistered firms, associations of persons (other than co-operative societies), bodies of individuals and artificial juridical persons – In the case of taxpayers of these categories, the gradation of income slabs and the rates of income-tax applicable thereto are the same as for the assessment year 1965-66, under the Finance Act, 1965. The basis and the rates for the levy of surcharges on the
