Supreme Court · 1998 INSC 490 · Decided 18 December 1998
Commissioner of Income Tax, Bihar-Ii, PATNA. v. Bokaro Steel LTD. Bokaro
- Court
- Supreme Court of India
- Citation
- 1998 INSC 490 · [1998] SUPP. 3 S.C.R. 680
- Case number
- CIVIL APPEAL No. 2544/1998
- Decided
- 18 December 1998
- Bench
- SUJATA V. MANOHAR, G.B. PATTANAIK (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Income Tax Act, 1961-Assessee-Bokaro Steel Limited-During construction of factory and before commencement of business sums received by it as : (a) rent for housing workers and staff employed by contractors; (b) C hire charges for plant and machinery given to the contractors for use in construction contractors by assessee for purpose of facilitating work of construction­ Held, these are receipts of capital nature and cannot be taxed as income­ These receipts being inextricably linked with the setting up of the capital D structure of the assessee-company, reduced cost of construction
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)