Supreme Court · 1965 INSC 237 · Decided 2 November 1965
Bengal & Assam Investors LTD v. Commissioner of Income Tax, West Bengal
- Court
- Supreme Court of India
- Citation
- 1965 INSC 237 · [1966] 2 S.C.R. 471
- Case number
- CIVIL APPEAL No. 508/1964
- Decided
- 2 November 1965
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 12, 10
Headnote
Indian Income-tax Act, 1922 (Act 11 of 1922), s. !0-Jnvestment Co1npany-Dividend inconze-lf taxable. The ass·~ssee, an investment company, was assessed to income~ tax on its dividend income under s. 12 of the Income Tax Act. On reference the High Court held : "it cannot be suggested in investment company had no business of any kind. It certainly had one but when it held shares on which dividends were re- ceived tax has to be computed under s. 12 and the assessee cannot say that this being its main activity the income received was its 'business income' under s. 10".
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)