Supreme Court · 1996 INSC 234 · Decided 13 February 1996
Commissioner of Income Tax (Central-Ii), Calcutta v. M/S. Duncan Brothers and CO. LTD., Calcutta
- Court
- Supreme Court of India
- Citation
- 1996 INSC 234 · [1996] 2 S.C.R. 492
- Case number
- CIVIL APPEAL No. 595/1978
- Decided
- 13 February 1996
- Bench
- J.S. VERMA, S.P. BHARUCHA, SUJATA V. MANOHAR (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act
Headnote
Super Profits Tax Act, 1963/Companies (Profits) Swtax Act, 1964 : Clause (ii) of Rule 1 of the Second Schedule/Rule 2(ii) of the Second C Schedule-Provision for taxation-Wliether could be deducted from the cost of excluded investments so as to augment the capital base-Held: No. Circulars-Central (XV- 5) of 1968 dated 23-1-1968-Applicability of D Words & Phrases : 'Fund'-Meaning of For the assessment year 1963-64, the assessee company claimed for the purposes of Super Profits tax Act, 1963 in the computation of its E capital, a provision for taxation made by it should be treated as a
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