Supreme Court · 1999 INSC 334 · Decided 17 August 1999
Commissioner of Income Tax, Delhi v. Bharat Carbon and Ribbon MFG. CO. (P) LTD.
- Court
- Supreme Court of India
- Citation
- 1999 INSC 334 · [1999] SUPP. 1 S.C.R. 492
- Case number
- CIVIL APPEAL No. 16688/1996
- Decided
- 17 August 1999
- Bench
- D.P. WADHWA, M.B. SHAH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 256(2)
Headnote
Income Tax Act, 1961-Levy of Excise duty under Item 17(2) of Central Excise Tariff-Liability challenged by way of Writ Petition-Such disputed .... and unpaid Excise Duty-Whether a permissible deduction over same c accounting period or contingent liability not incurred-HELD, where mercantile system accrues though discharged at a later date. ,- j, The Respondent-Assessee was manufacturing Carbon Papers which D was not liable to Excise Duty till 28th February, 1975. Later on, duty was levied on Carbon Papers. The Collector issued a general trade notice making Carbon Papers liable to
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