Supreme Court · 1973 INSC 78 · Decided 10 April 1973
Commissioner of Income-Tax, West Bengal Calcutta v. Calcutta Discount CO., LTD.
- Court
- Supreme Court of India
- Citation
- 1973 INSC 78 · [1973] 3 S.C.R. 952
- Case number
- CIVIL APPEAL No. 495/1970
- Decided
- 10 April 1973
- Bench
- K.S. HEGDE, HANS RAJ KHANNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66(1)
Headnote
lncome-tax-Riglzt of assessee to avoid tax. ,4 ppel/ate Tribunal-Disposal of appeal on ' teclmica/ities-Duty tu con- shirr substance of the matter. . The assessee company floated a subsidiary co.mpany during the ~ele- \'ant previous year and transferred to that su}J~tdtary company vanou5 lncome-tlx Act. 1922. held that the assessee and its subsidiary were two different kg01J entities that the transact:on was a bona fide transacttnn and that the assessee had not maJe any secret profits out of that transaction. The locomc-tax Officer, however, valued the shares transferred at the
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)