Supreme Court · 1969 INSC 163 · Decided 31 July 1969
Commissioner of Income-Tax, Excess Profits Tax, Hyderabad, Andhra Pradesh v. V. Jagan Mohan Rao & ORS.
- Court
- Supreme Court of India
- Citation
- 1969 INSC 163 · [1970] 1 S.C.R. 726
- Case number
- CIVIL APPEAL No. 893/1966
- Decided
- 31 July 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 34
Headnote
Indian Income-tax Act, 1922, s. 34 and s. 10(2) (xv )-Decision of Privy Council settling legal dispute-Whether constitutes 'definite infor­ mation' within meaning of s. 34--Purchase of mill by assessee-Vendor's sons disputing his right to sell-Assessee paying sons a consolidated sum for so paid whether allowable business expenditure under s. 10(2)(xv). The assessee purchased a spinning mill in 1941 from a vendor claiming to be its sole proprietor. In a suit filed by the venddr's sons the trial court had held that the suit property including the aforesaid spinning mill was the
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