Supreme Court · 1986 INSC 131 · Decided 15 July 1986
C.I.T (Central), Madras v. Canara Workshops (P) LTD., Kodialball, Mangalore
- Court
- Supreme Court of India
- Citation
- 1986 INSC 131 · [1986] 3 S.C.R. 166
- Case number
- CIVIL APPEAL No. 1685/1974
- Decided
- 15 July 1986
- Bench
- R.S. PATHAK, SABYASACHI MUKHERJI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
(CENTRAL), MADRAS v. CANARA WORKSHOPS (P) LTD., B KODIALBALL, MANGALORE JULY 15, 1986 --· [R.S. PATHAK AND SABYASACHI MUKHARJI JJ.] / Income Tax Act, 1961-s. SOE-Profit and gains-Priority in- c dustries-deductions in respect of-how determined. The assessee-company is engaged in the in the Fifth Schedule to the Income Tax Act, D 1961. The assessee sustained a loss in the alloys steel industry during the previous years relevant to the assessment years 1966-67 and 1967-6S. It claimed a loss in the sum of Rs.15,30,6SS for the assessment year 1966- 67. For the assessment
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