Supreme Court · 1976 INSC 47 · Decided 10 March 1976
Commissioner of Wealth Tax v. Hindustan Motors Limited
- Court
- Supreme Court of India
- Citation
- 1976 INSC 47 · [1976] 3 S.C.R. 579
- Case number
- CIVIL APPEAL No. 849/1971
- Decided
- 10 March 1976
- Bench
- HANS RAJ KHANNA, P.K. GOSWAMI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
579 Wca/tli 1ax Act, 1957 (Act XXV/l of 1957)-Sec. 7(1)(2)-Valuation of depreciable assets-Valuation of assets in balance Sheet, if not proper, whether depreciation 1111der the lncon1e Tax Act cnn be taken into account-Onus to proi'e raluativ11. A B The respondent assessee maintains accounts provided in the balance sheet in regard to the depreciable fixed assets on account of paucity of profits C and hence the depreciation as provided in the balance sheet was very much lower than the depreciation allowable under the Income Tax Act. The assessee claimed before the Wealth Tax Officer
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)