Supreme Court · 1969 INSC 171 · Decided 8 August 1969
Commissioner of Wealth-Tax, Calcutia, Now West Bengal Ii v. Tungabhadra Industries LTD., Calcutta
- Court
- Supreme Court of India
- Citation
- 1969 INSC 171 · [1970] 1 S.C.R. 789
- Case number
- CIVIL APPEAL No. 1629/1968
- Decided
- 8 August 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Wea/th Tax ACt, 1957. ss. 7(2)(a) and 27(6)-Va/uation of assets of ·running business-Value as given in balance-sheet and written down value of dssets-Which tO be adopted for assessment-Assessee must produce material to show ihat value other than that shown in bi Tribunal on receiving judgment of High Court or·· Supreme Court. The reSpondent: company was assessed to wealth-tax fOr the assess­ ment years 1957-58, 1958-59 and 1959-60. In computing the net wealth. of the respondent on the respective valuation dates the Wealth Tax
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