Supreme Court · 1972 INSC 245 · Decided 3 October 1972
Commissioner of Income-Tax, Madras v. M/S. Ashok Leyland LTD.
- Court
- Supreme Court of India
- Citation
- 1972 INSC 245 · [1973] 2 S.C.R. 516
- Case number
- CIVIL APPEAL No. 1989/1969
- Decided
- 3 October 1972
- Bench
- K.S. HEGDE, P. JAGANMOHAN REDDY, I.D. DUA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66(2)
Headnote
lnco111e ftcc-Payn1e_nr of co111penwllio11 for tern1i11ati11g 111anagi111: aJ:e1u~,·-Ct1pital or Rf•\!c'1111e exp£•tuliture. The asscssec-company (respondent) was initially doing the business of assembly and sale of Austin cars <1nd Leyland trucks. It appointed Managing the respondent ceased to assemble Austin cars ·in view of the decision of the Govcr.r.mcnt and engaged itsclf in the· manufacture of Leyland commercial vehicles. The progress of the scheme was reviewed in 1955 ahd the Government <if India suggested to the res­ pondent that
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