Supreme Court · 1968 INSC 3 · Decided 9 January 1968
Commissioner of Income-Tax, Bombay v. M/S. Shree Goverdhan LTD. Bombay
- Court
- Supreme Court of India
- Citation
- 1968 INSC 3 · [1968] 2 S.C.R. 731
- Case number
- CIVIL APPEAL No. 17/1967
- Decided
- 9 January 1968
- Bench
- J.C. SHAH, V. RAMASWAMI, VISHISHTHA BHARGAVA (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 23A
Headnote
731 Indian Income-tax Act, ,1922, ss. 2(11) ood 23A-Accounting ,vear of company ending on September 30, every year-Colnpany a partner in a firm-Accounting periods of firm for 1951-52 A.Y. ending on November 30, 1950 and March 31, 1951-Company's annual general meeting held on May 17, 1951-Company's whether to be Included in its income for 1951-52 A.Y. for purpose of s. 23A. The assessee-a public limited company, entered into a partnership on April 20, 1950 with another firm, and thus had 1wo sources of income, (i) from its own business and (2) from the shares of the partnership
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