Supreme Court · 1971 INSC 25 · Decided 21 January 1971
Commissioner of Income Tax, Assam AND. Nagaland ETC. v. Shri G. Hyatt
- Court
- Supreme Court of India
- Citation
- 1971 INSC 25 · [1971] 3 S.C.R. 438
- Case number
- CIVIL APPEAL No. 1174/1967
- Decided
- 21 January 1971
- Bench
- J.C. SHAH, K.S. HEGDE, A.N. GROVER (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 56, 17, 17(3)(ii)
Headnote
OF INCOME TAX, ASSAM AND. NAGALAND ETC. v. SHRI G. HYATT January 21, 1971 [J. C. SHAH, C.J., K. S. HEGDE AND A. N. GROVER, JI] Inaome-tax Act 1961, ss. 17 and 56-Contribution to unrecognised provident fund-Interest thereon-Whether caxab/e under s. 56. On the question whether an amount The arlii;mnt was liable to be assessed. The receipt of aninterest of any investment is a gain made by the investor and there'fore the same is 1income''. B c In view of s. 17(1)(iv), all receipts•·bf profits in.lieu of salary have to be considered as salary. In defining the expression
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