Supreme Court · 1994 INSC 143 · Decided 6 April 1994
Burmah Shell Oil Storage and Distributing Company of India LTD. (Now Known As Bharat Petroleum Corporation LTD.) v. The Commissioner of Income Tax (Central), Calcutta
- Court
- Supreme Court of India
- Citation
- 1994 INSC 143 · [1994] 3 S.C.R. 374
- Case number
- CIVIL APPEAL No. 1325/1979
- Decided
- 6 April 1994
- Bench
- M.N. VENKATACHALIAH, G.N. RAY (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 32(1)(iii)
Headnote
C Income Tax Act, 1961/Income Tax Rules, 1962. Sections 32(1)(iii), 33, 34(3)(a)/R.5, Appendix I, Item M(2)(2)(d)(i)­ Depreciation-Development rebat..-Liquid petroleum gas cylinder,-Sale of by Distributor to Refinery-Shortfall claiming deduction of t11e amount-Held, assessee was not entitled to claim deduction D u/s. 32 (l)(iii) as it had not written off the amount in its books of account­ Nor was assessee entitled to development rebate as it did not transfer excess amounts of earlier years in the accounting year
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