Supreme Court · 1965 INSC 111 · Decided 19 April 1965
Commissioner of Income-Tax, Assam ETC. v. The Panbari Tea CO. LTD.
- Court
- Supreme Court of India
- Citation
- 1965 INSC 111 · [1965] 3 S.C.R. 811
- Case number
- CIVIL APPEAL No. 150/1964
- Decided
- 19 April 1965
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66(1)
Headnote
F G H COMMISSIONER OF INCOME-TAX, ASSAM ETC. v. THE PANBARI TEA CO. LTD. April 19, 1965 [K. SUBBA RAO, J. C. SHAH AND S. M. SIKRI, JJ.J Indian Income-tax Act (11 of 1922)-"Premium" and "rent"­ Distinction-Premium paid in instalments-Whether caPitai gains or revenue of the sum was paid at the time of the execution of the lease and the balance was spread over in ten annual instalments; and the annual rent was payable in monthly instalments. The annual instalment paid as premium was taxed by the Income Tax authorities as re­ venue receipt of the assessee.
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