Supreme Court · 1998 INSC 134 · Decided 5 March 1998
Bharat Commerce and Industries LTD. v. The Commissioner of Income Tax, Central-Ii
- Court
- Supreme Court of India
- Citation
- 1998 INSC 134 · [1998] 2 S.C.R. 150
- Case number
- CIVIL APPEAL No. 5509/1985
- Decided
- 5 March 1998
- Bench
- SUJATA V. MANOHAR, D.P. WADHWA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 212, 37, 139, 215, 80V, 36(l)(iii)
Headnote
Income Tax-Bw1iness expenditure-Laid out wholly and exclusively for the purposes of business-Assessee paid advance tax under section 212 of the Income Tax Act for assessment year 1972-7 3-lnterest levied/or delayed C payment under sections 139 and 215-Held, not deductible under section 37(1) as assessment year-Income Tax Act, 1961-Sections 37, 139, 215, 212 and 80V. D Assessee disclosing certain income under Voluntary Disclosure of Income and Wealth Act-Delayed payment of income tax and sur tax-Interest paid under section 6 of the Act-On obtaining instalments from the income tax
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