Supreme Court · 2000 INSC 219 · Decided 17 April 2000
Commissioner of Income-Tax West Bengal-I, Calcutta v. United Provinces Electric Supply Company
- Court
- Supreme Court of India
- Citation
- 2000 INSC 219 · [2000] 3 S.C.R. 22
- Case number
- CIVIL APPEAL No. 6325/1995
- Decided
- 17 April 2000
- Bench
- D.P. WADHWA, M.B. SHAH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 41(2); Electricity Act Section 6
Headnote
---Income Tax Act, 1961-Section 41(2)-Business Profit-Ta:xability- Accrual of income-Balancing charge-Compulsory acquisition of business undertaking-Compensation received-Pendency of litigation in respect of an c amount or price due-Whether relevant so far as ta:xability of accrued income is can be taxed at a subsequent stage. ;.. The respondent-assessee was carrying on the business of generating and supply of electricity to the consumers. The Government of Uttar D Pradesh by exercising power under Section 6 of the Indian Electricity Act, 1910, purchased the undertakings of the
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