Supreme Court · 1951 INSC 41 · Decided 18 September 1951
Commissioner of Excess Profit Tax Bombay City v. Sri Lakshmi Silk Mills LTD.
- Court
- Supreme Court of India
- Citation
- 1951 INSC 41 · [1952] 1 S.C.R. 1
- Case number
- CIVIL APPEAL No. 46/1950
- Decided
- 18 September 1951
- Bench
- MEHR CHAND MAHAJAN, BIJAN KUMAR MUKHERJEA, SIR SYED FAZL ALI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Court Reports. COMMISSIONER OF EXCESS PROFIT TAX BOMBAY CITY v. SRI LAKSHMI SILK MILLS LTD. [ SAIYID FAZL ALI, MEHR CHAND MAHAJAN AND MuKHERJEA JJ.] Excess Profits Tax Act (XV of 1940), s. 2 (5)-"lncome from business"-Manufacturing company-Rent o:f plant and machin· ery let the chargeable accounting period (1st January, 1943, to 31st Decembell, 1943) owing to difficulty in obtaining silk yarn on account of the war, it could make no use of this plant and it remained idle for some time. In August, 1943, the pl_ant was let out to' another company on a monthly rent. The
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