Supreme Court · 1996 INSC 343 · Decided 1 March 1996
Ahmedabad Manufacturing and Calico Printing CO. LTD. and ANR. v. A.V. Joshi
- Court
- Supreme Court of India
- Citation
- 1996 INSC 343 · [1996] 3 S.C.R. 150
- Case number
- CIVIL APPEAL No. 1044/1979
- Decided
- 1 March 1996
- Bench
- J.S. VERMA, N.P. SINGH, B.N. KIRPAL (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80K
Headnote
MANUFACTURING AND CALICO PRINTING CO. LTD. AND ANR. v. A.V. JOSHI MARCH 1, 1996 (J.S. VERMA, N.P. SINGH AND B.N. KIRPAL. JJ.] Income Tax Act, 1961. C Ss. 80!, SOK, 197(3)-New Industrial Undertakings-Deduction in respect of dividends-Losses and depreciation of earlier year carried for­ profit and gains assessable in relevant assessment yeai--Company would be entitled to benefit under S.SOK D The assessee-Com pany established new industrial undertakings, namely, a Polyster Fibre Plant in the accounting year 1975-76 and a Sulzer Plant in the subsequent accounting year 1976-77. The
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