Supreme Court · 1971 INSC 127 · Decided 27 April 1971
Commissioner of Income-Tax, Mysore, Banglore v. The Mysore Electrical Industries LTD.
- Court
- Supreme Court of India
- Citation
- 1971 INSC 127 · [1971] SUPP. 1 S.C.R. 521
- Case number
- CIVIL APPEAL No. 1794/1970
- Decided
- 27 April 1971
- Bench
- S.M. SIKRI, G.K. MITTER, C.A. VAIDYIALINGAM, P. JAGANMOHAN REDDY, I.D. DUA (5-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 10, 34
Headnote
Companies (Profits) Surtax Act, 1964-Second Schedule, r. 1-Sums .appropriatrd by towards reserves not on the first day of 'the year but later -Should be treated a.r effective from the earlier date since divirion of ·undistributed profits became effectiw from that day. On three several sums appropriated by the Direc­ tors of the respondent-company towards reserves on the 8th August, 19o3 out of the profits of the year ending 31st March, 1963, should be added to other items for computation of the capital of the respondent as on the 1st day of April, 1963 in
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)