Supreme Court · 1971 INSC 195 · Decided 12 August 1971
Calcutta Electric Supply Corporation v. Commissioner of Wealth Tax, West Bengal
- Court
- Supreme Court of India
- Citation
- 1971 INSC 195 · [1972] 1 S.C.R. 159
- Case number
- CIVIL APPEAL No. 1656/1968
- Decided
- 12 August 1971
- Bench
- K.S. HEGDE, A.N. GROVER (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Electricity Act Section 7(A), 7(A)(2), 5to8
Headnote
Wealth Tax Act. 1957 s. 7-Computation of value of assets under­ Assets as shown in balance-sheet can be accepted but Wealth-tax Officer not bound to accept valuation as shown therein-Electricity company seeking deduction of value of service connections installed at cost of con­ H'ere·not in ownership of company-Shown in ha/ance sheet as company's assets­ Wealth Tax Officer justified in refusing deduction-Fact that service connections are not to be included in company's assets under s.7 A of Indian Electricity Act is irrelevant.for the purpose of s. 7 of
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