S.C. decisions.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....985) 156 ITR 1(St) in regard to payments or provision for gratuity. The Court has inter-alia held that : "On a plain construction of clause (a) of sub-section (7) of Section 40A of the Act, what it means is that whatever is provided for future use by the assessee out of the gross profits of the year of account for payment of gratuity to employees on their retirement or on the termination of their....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion 40A(7) and render it nagatory." (2) M/s. Scientific Engg. House (P) Ltd. Vs. CIT dated 1st November, 1985 in regard to expenses for a designation of a technical knowledge in the from of drawings, designs and books etc. The Court has approved the view of Gujarat High Court in the case of Elecan Engg. (96 ITR 672 (Guj) and held that the depreciation is admissible on this regard. (3) Kartikeya....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s loss will not have precedence over current year's depreciation. (5) CIT Vs. J.H. Gotla. dated 29th August 1985 [23 Taxman 10 (SC)] regarding carry forward and set off of loss incurred by spouse or minor. The Court held that where Section 16(3) of the old Act (Section 64(1) of the 1961 Act) operates, profits or loss from a business of the spouse or minor child included in the total income of the....