Supreme Court · 1995 INSC 618 · Decided 12 October 1995
Commissioner of Income Tax, Meerut, ETC. Etc v. M/S. Virmani Industries PVT. LTD. ETC. ETC.
- Court
- Supreme Court of India
- Citation
- 1995 INSC 618 · [1995] SUPP. 4 S.C.R. 275
- Case number
- CIVIL APPEAL No. 1052/1976
- Decided
- 12 October 1995
- Bench
- B.P. JEEVAN REDDY, S.B. MAJMUDAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 32(2)
Headnote
TAX, MEERUT, ETC. ETC. A l'. M/S. VIRMANI INDUSTRIES PVT. LTD. ETC. ETC. OCTOBER 12, 1995 [B.P . .JEEVAN REDDY AND S.B. MAJMUDAR, JJ.) Income Tax Act 1961-Section 32(2)-Claim of unabsorbed deprecia­ tion-May be set off against any incom<-ln any following year and if income B of that year also sta1ted immediately or after a la11se of tinie-Not necessa1y to use the sante or pa1t of the nzachine1y against which set off claimed in lite following year(s). Expression 'profits and gains chargeable to tax'-S 32(2)-Meaning of Refe1> to income under all heads. D 'Cany fo1ward of
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)