Supreme Court · 1953 INSC 63 · Decided 9 October 1953
Chainrup Sampatram v. Commissioner of Income-Tax, West BENGAL.
- Court
- Supreme Court of India
- Citation
- 1953 INSC 63 · [1954] 1 S.C.R. 211
- Case number
- CIVIL APPEAL No. 142/1952
- Decided
- 9 October 1953
- Bench
- M. PATANJALI SASTRI, SUDHI RANJAN DAS, VIVIAN BOSE, GHULAM HASAN, NATWARLAL HARILAL BHAGWATI (5-judge bench)
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
SUPREME COURT REPORTS 211 High Court held that the profits for three months from the 1st January, 1946, to the 1st April, 1946, were not reserves which would attract the application of rule 2 of Schedule II. With this conclusion we agree. The assessee's appeal is, therefore, dismissed with costs. WEST BENGAL. G.H. [PATANJALI SAsTRI C. J., S. R. DAs, VIVIAN BosE, GHULAM HASAN and BHAGWATI JJ.] Indian Income-tax Act (XI of 1922), ss. 4(1)(b) and 14(~)(c)­ Ascertainment of profit by valuation of stock-Stock-in-trade removed to Native State-·Place where profit
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