Supreme Court · 1967 INSC 254 · Decided 8 November 1967
Commissioner of Income-Tax, Madhya Pradesh v. Dewas Cine Corporation
- Court
- Supreme Court of India
- Citation
- 1967 INSC 254 · [1968] 2 S.C.R. 173
- Case number
- CIVIL APPEAL No. 2163/1966
- Decided
- 8 November 1967
- Bench
- J.C. SHAH, V. RAMASWAMI, VISHISHTHA BHARGAVA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(2)(vii), 10(2)
Headnote
OF INCOME-TAX, MADHYA PRADESH B c D E F G H v. DEWAS CINE CORPORATION November 8, 1967 {J. C. SHAH, V. RAMASWAMI AND V. BHARGAVA, JJ.} lnclian lncorne-tax Act, 19221 s. 10(2) (vii) 2nd proviso-Tl•'o persons entering into partnership, each contributing a cinema theatre-on. dissolu­ (vii), 2nd proviso. S and H formed a partnership to carry on business in partnership_ as exhibitors of cinematograph films with effect from March 1, 1947. Each partner who was an owner of a cinematograph theatre brought bis theatre into the books of the partnership as an asset of the
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