Supreme Court · 1969 INSC 44 · Decided 14 February 1969
Commissioner of Income-Tax, West Bengal v. Allahabad Bank Limited
- Court
- Supreme Court of India
- Citation
- 1969 INSC 44 · [1969] 3 S.C.R. 722
- Case number
- CIVIL APPEAL No. 701/1968
- Decided
- 14 February 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 78(1); Income Tax Act
Headnote
B Finance Acts, 1956 ant( 1951-Explanation to Paragraph D of Part JI-Definition 'of 'share prtmium account'; whether such account liable to be included in the paid-up-capital for computing rebate of super tax­ i! to qualify for inclusion it is sufficient if ii is an identifiable separate 78(1) -Effect of. In proceedings for assessment to tax for each of the assessment years 1956-57 and 1957-58, the Income Tax Officer reduced the rebate in super­ tax admissible to the respondent under the Finance Acts of 1956 and 1957 on the view that the respondent bank, which was a public
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