Supreme Court · 1984 INSC 193 · Decided 16 October 1984
Commissioner of Income-Tax, Ernakulam (Kerala) v. The Official Liquidator, Palai Central Bank LTD. (In Liquidation)
- Court
- Supreme Court of India
- Citation
- 1984 INSC 193 · [1985] 1 S.C.R. 971
- Case number
- CIVIL APPEAL No. 2090/1980
- Decided
- 16 October 1984
- Bench
- V.D. TULZAPURKAR, V. BALAKRISHNA ERADI, D.P. MADON (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
ERNAKULAM. (KERE!-A) v. 971 THE OFFICIAL LIQUIDATOR, PALA! CENTRAL BANK LTD, (IN LIQUIDATION) October 16, 1984 [V.D. TULZAPURKAR, V. BALAKRISHNA ERADI AND D. P. MADON JJ.] Super Profita Tax Act, 1963 (Act XIV of 1961), ss.2 (5), 2 (9) and 4 read with second Schedule to the A.ct-Company in went into liquidation on August 8, 1960. The Income-tax Officer, while determining the taxable income of the assessee-com­ pany at Rs. 5,79,678 for the assessment year 1963..()4, was of the opinion that this amount would attract liability for super profits tax also and therefore
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