Supreme Court · 1974 INSC 219 · Decided 31 October 1974
Challapalli Sugar LTD. v. The Commissioner of Income Tax, A.P. Hyderabad
- Court
- Supreme Court of India
- Citation
- 1974 INSC 219 · [1975] 2 S.C.R. 538
- Case number
- CIVIL APPEAL No. 1353/1970
- Decided
- 31 October 1974
- Bench
- HANS RAJ KHANNA, A.C. GUPTA (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 66(1)
Headnote
.11ldia11 I11come·Tax Ac:t, 1922, Section 10, secs, 10(2), 10(2)(vl), 10(5) a11d .exp/a11atlon te1 sec. 10(5) a11d Sectio11 208(1) of Compa11ies Act, 1956 (A'.ct 1 .of 1956)-Payment of tax i11 respect of profits or gains-Interest paid li,efore commencement of produ,~tion on mo11ey borrowed and i11c/uded 111 actual cost. l11c01nc-rax Act, 1961, as amended by Income-Tax (Amendment) Act, 1972 (Act No. 41 of 1972) Sctions 10(2) (xv) and 40 (1ia)-Wealth•tax pai'd by .assessee on net wealth, whether deductible as business expendilui~ under sec. S uf Amending Act. lo all the
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