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“Section 66(5)”

Section References (mined)Section 66Section 66(5)1 judgments

The decision most relied on for Section 66(5) is Sree Meenakshi Mills Ltd. v. Commissioner of Income Tax (31 ITR 28), cited in 137 judgments on BharatTax.

Leading authorities on Section 66(5)

Sree Meenakshi Mills Ltd. v. Commissioner of Income Tax
31 ITR 28 · 1957 · Supreme Court
137
citing judgments

Expenditure incurred for commercial expediency, even without a direct or immediate benefit but indirectly facilitating business, is deductible as laid out wholly and exclusively for trade. The scope of reference jurisdiction under Section 66 is limited to questions of law, allowing challenges to Tribunal findings of fact only if they are perverse, unreasonable, or lack evidence.

T.N.K. Govindaraju Chetty v. CIT
66 ITR 465 · 1967 · Supreme Court
89
citing judgments

Interest received under Sections 28 and 34 of the Land Acquisition Act, 1894, for delayed or enhanced compensation, is a revenue receipt and is taxable under the Income Tax Act.

Oriental Investment Co. Ltd. v. CIT
32 ITR 664 · 1957 · Supreme Court
13
citing judgments

A finding of fact by the Income-tax Appellate Tribunal can be challenged as erroneous in law under section 66(1) if it is not supported by any evidence or is perverse.

Judgments citing Section 66(5)

Khandelwal Soya Industries Limited, Rampur vs. ACIT(Centeral), Bareilly

In the result, appeal of the assessee is partly allowed in the

ITA 93/LKW/2022[F.Y.2005-06]Status: DisposedITAT Lucknow29 Aug 2025

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

For Appellant: Shri Rakesh Garg, AdvFor Respondent: Shri S. H. Usmani, CIT(DR)
Section 127Section 132Section 153ASection 153DSection 194H

sent to the Income-tax Appellate Tribunal under the seal of the court and the signature of the Registrar as required by section 66(5) of the Income-tax Act. We further direct that the assessee shall pay to the Commissioner of Income-tax his costs of the reference, which