Supreme Court · 1997 INSC 108 · Decided 5 February 1997
Commissioner of Income Tax v. M/S. Alcock Ashdown and CO. LTD. Etc
- Court
- Supreme Court of India
- Citation
- 1997 INSC 108 · [1997] 1 S.C.R. 939
- Case number
- CIVIL APPEAL No. 1274/1980
- Decided
- 5 February 1997
- Bench
- B.P. JEEVAN REDDY, K.S. PARIPOORNAN (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
B:. Income Tax Act, 1961 Income Tax--Deductions-Section 84 (since omitted) and Section 80 ~rofits and gains of newly established undertakings-Expression 'Capital C employed in such unde1taking'-!nterpretation .of-Acquisition or purchase of an asset, even though the same was not utilised or put to the asset i"elevant. The Respondent-assessee, a public limited company with a chain of · workshops, in the previous year relevant to the assessment year 1962-63, D started a new industrial undertaking wherein a good portion of plant and machinery purchased was installed for new
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