Supreme Court · 2007 INSC 1321 · Decided 14 December 2007
Commissioner of Income Tax, Madras v. M/S. Lucas T.V.S. LTD. Padi Chennai
- Court
- Supreme Court of India
- Citation
- 2007 INSC 1321 · [2007] 13 S.C.R. 958
- Case number
- CIVIL APPEAL No. 5950/2007
- Decided
- 14 December 2007
- Bench
- ARIJIT PASAYAT, P. SATHASIVAM (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 32A, 43A(l)
Headnote
Income Tax Act, 1961; Ss. 32A and 43A(l): Investment allowance-Allowing of in one or more than one C financial years-Held: S.43A(J) relates to fluctuation of foreign exchange and has nothing to do with allowability of investment in terms of s. 32(A) of the Act in one or more assessment years-High provisions of law in its proper perspective while dismissing the appeal of the Revenue- D Hence, matter remitted to High Court for adjudication afresh after formulating the question of law involved. The main issue arose for consideration in these appeals was as to whether investment allowance
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