Supreme Court · 1953 INSC 55 · Decided 24 September 1953
Commissioner of Income-Tax, West Bengal v. A. W. Figg}es & CO., and OTHERS.
- Court
- Supreme Court of India
- Citation
- 1953 INSC 55 · [1954] 1 S.C.R. 171
- Case number
- CIVIL APPEAL No. 77/1952
- Decided
- 24 September 1953
- Bench
- MEHR CHAND MAHAJAN, SUDHI RANJAN DAS, NATWARLAL HARILAL BHAGWATI (3-judge bench)
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act Section 25(4)
Headnote
S.C.R. SUPREME COURT REPORTS 171 should have resulted from such a course of dealing in 1953 securities as by itself would amount to the carrying on Sardar Indra of a business o~ buying and selling securities. It would Singh and Sona be enough if such sales were effected in the usual course Ltd. West Bengal. of securities is a normal step in carrying on the assessee's business. Though that case arose out of the assessment Patanjali of a banking business, the test is one of general appli- Sastri a. J. cation in determining whether the surplus arising out of such transactions is a
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)