Supreme Court · 1971 INSC 186 · Decided 10 August 1971
Birla Jute Manufacturing CO. LTD. v. Commissioner of Wealth Tax, West Bengal, Calcutta
- Court
- Supreme Court of India
- Citation
- 1971 INSC 186 · [1972] 1 S.C.R. 104
- Case number
- CIVIL APPEAL No. 1834/1968
- Decided
- 10 August 1971
- Bench
- K.S. HEGDE, A.N. GROVER (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 211
Headnote
Wealth Tax-Inflated value of assets shown in balance sheet of company -When wealth tax officer is justified in accepting such figure. In the assessment year 1948-49, the assessee, a public limited com­ pany revalued its assets and enhanced the book value by Rs. 145,00,000 arid continued to years. For the assessment year 1957-58, the Department 1ook the valuation of the assets as shown in the balance sheets. The assessee. however, claimed that the said Rs. 45,00,000 should be deducted in the computation of the net value. Before the Tribunal, it was stated that the reason for
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)