Supreme Court · 1970 INSC 119 · Decided 30 April 1970
Commissioner of Income-Tax, Punjab v. Kulu Valley Transport CO. (P) LTD.
- Court
- Supreme Court of India
- Citation
- 1970 INSC 119 · [1971] 1 S.C.R. 452
- Case number
- CIVIL APPEAL No. 859/1966
- Decided
- 30 April 1970
- Bench
- J.C. SHAH, K.S. HEGDE, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 22(3)
Headnote
Income-tax Act. 1922, ss. 22(1), 22(3) tmd 22(2A )-Voluntary re­ urn •howing /os~ filed after sltltutory period laid down ins. 22(1)-Benefit of s. 22(2A) whether can be given to assessee-Whether loss can be carri­ ed forward-J?eturn whether can be treated as one under s. 22(3). The Act, 1913. In January 19$6 the company voluntarily filed returns under s. 22(3) of the Income-tax Act. 1922 showing losses for the assessment years 1953-54 and 1954-55. No .1otice had been served on the company under ·s. 22(2) of the Act. The Income-tax Officer held that since the
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