Supreme Court · 1972 INSC 246 · Decided 3 October 1972
British India Corporation v. Commissioner of Income-Tax, U.P. Lucknow
- Court
- Supreme Court of India
- Citation
- 1972 INSC 246 · [1973] 2 S.C.R. 524
- Case number
- CIVIL APPEAL No. 1987/1969
- Decided
- 3 October 1972
- Bench
- K.S. HEGDE, P. JAGANMOHAN REDDY, I.D. DUA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
INDIA CORPORATION v. COMMISSIONER OF INCOME-TAX, U.P .. LUCKNOW October 3, 1972 [K. S. HEGDE, P. JAGANMOHAN REDDY AND I. D. DUA, JJ.J Excess Profits Tax Ac: .. 1940, Schedule I, r.12 (!)-Determination by office,. H'llether expenditure is ireasonab/e and 11ec£•ssary-Tests for. Rule 12 ( The test is whether the expenditure is unreasonable and unnecessary haring regard to the requirements of the business, and, in the case of directors' fees or other payments for services, to the actual services rendered. A!l ::-elevant facts, especiaUy commercial expediency or commercial
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