Supreme Court · 1970 INSC 116 · Decided 29 April 1970
Commissioner of Income-Tax, Madras v. S. S. Sivan Pillai and Others
- Court
- Supreme Court of India
- Citation
- 1970 INSC 116 · [1971] 1 S.C.R. 434
- Case number
- CIVIL APPEAL No. 2321/1966
- Decided
- 29 April 1970
- Bench
- J.C. SHAH, K.S. HEGDE, A.N. GROVER (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
OF INCOME-TAX, MADRAS . v. S. S. SIVAN PILLAI AND OTHERS April 29, 1970 [J. C. SHAH, K. S. HEGDE AND A. N. GROVER, JJ.J lrniian /ru:ome-tax Act, 1922, s. 15-C(l) & (4)- ShaFe-holders whether. entitled to exe1.nption under sub-s. (4) when company makes 110 profit liable to exemptwn under carried forward against profit of succeeding )'ear whether takes place under s. 10(2) (vi) prcwiso (b) or 11rnier s. 24(2). Shri Ganapathy Mills Co. Ltd., Distributed div.iclend to its shareholders out. of its business profits earned in the years ending December 31, 1953 and December 31,
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