Supreme Court · 1986 INSC 138 · Decided 16 July 1986
Commissioner of Income-Tax, U.P. v. Laxmi Sugar & Oil Mills LTD.
- Court
- Supreme Court of India
- Citation
- 1986 INSC 138 · [1986] 3 S.C.R. 214
- Case number
- CIVIL APPEAL No. 1613/1974
- Decided
- 16 July 1986
- Bench
- R.S. PATHAK, SABYASACHI MUKHERJI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
OF INCOME-TAX, U.P. v. LAXMI SUGAR & OIL MILLS LTD. JULY 16, 1986 [R.S. PATHAK AND SABYASACHI MUKHARJI, JJ.J c Super Profits Tax .Act, 1963, ss. 2(9), 4 and Rule 1 of Second Schedule-Standard deduction-What is-Assessee setting apart amounts for additional cane price payable to the respondent- assessee had debited an amount of Rs.5,40,000 and an amount of Rs.2, 76,000 to its profit and loss account of the relevant previous years respectively. The amounts were debited on the ground that they re­ presented the assessee's liability of the relevant years for the
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