Supreme Court · 1996 INSC 28 · Decided 8 January 1996
Commissioner of Income-Tax, Orissa v. M/S. Kalinga Tubes LTD.
- Court
- Supreme Court of India
- Citation
- 1996 INSC 28 · [1996] 1 S.C.R. 197
- Case number
- CIVIL APPEAL No. 1396/1996
- Decided
- 8 January 1996
- 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 37, 256(1)
Headnote
ORISSA v. MIS. KALINGA TUBES LTD. JANUARY 8, 1996 [B.P. JEEVAN REDDY AND S.B. MAJMUDAR. JJ.] Cei1trai Sales Tax Act. 1956 : Sales Tt.v.:-Assessee-Follo\VillR 1nerca11t;/e sysfe1n of accnunting­ Liability to pay tax--Held arises when the assess~e nuule the sale. Income Tax Act, 1961 : denuuul reduced by Tribunal during previous .vear relevant to a~·.\·essn1ent year 1971-72-Held assessee \Vas not entitled to clairn deduction (~fthe said an1nunt in assessn1ent .vear 1971-72. The rospondent-Company was engagt!d in the manufacture and sales of steel tubes and was
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