Supreme Court · 1987 INSC 76 · Decided 13 March 1987
Commissioner of Excess Profit Tax, Kanpur v. Kalyan Mal Phool Chand, Nagar Ganj, Kanpur
- Court
- Supreme Court of India
- Citation
- 1987 INSC 76 · [1987] 2 S.C.R. 601
- Case number
- CIVIL APPEAL No. 1375/1974
- Decided
- 13 March 1987
- Bench
- SABYASACHI MUKHERJI, S. NATARAJAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act
Headnote
PROFIT TAX, KANPUR v. KALYAN MAL PHOOL CHAND, NAGAR GANJ, KANPUR MARCH 13, 1987 [SABY ASACHI MUKHARJJ AND S. NATARAJAN. JJ.J Excess Profit Tax Act, 1940--Sections 2, 5-7-'Accounting period'-'Chargeable account period'-'Standard profits'-What are­ Deficiency in profits-Setting off-Basis of and sales were affected in Kanpur. It ~ had first taken a jungle on lease and Katechu were extracted from October 1940 to September, 1941. Sales were effected from 30th May, 1941 to 29th September, 1941. Thereafter, another jungle was taken on D lease and Katechu were extracted from 23rd
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