Supreme Court · 1956 INSC 10 · Decided 15 February 1956
Firm of Bhagat Ram Mohanlal v. The Commissioner of Excess Profits Tax, Madhya Pradesh, Nagpur and ANOTHER.
- Court
- Supreme Court of India
- Citation
- 1956 INSC 10 · [1956] 1 S.C.R. 143
- Case number
- CIVIL APPEAL No. 139/1953
- Decided
- 15 February 1956
- Bench
- SUDHI RANJAN DAS, NATWARLAL HARILAL BHAGWATI, T.L. VENKATARAMA AIYYAR (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 226; Income Tax Act
Headnote
COURT REPORTS FIRM OF BHAGAT RAM MOHANLAL v. 143 THE COMMISSIONER OF EXCESS PROFITS TAX, MADHYA PRADESH, NAGPUR AND ANOTHER. (S. R. DAs, ACTING C.J., BHAGWATI and VENKATARAMA AYYAR JJ.] Indian Income-Tax Act, 1922 (XI of 1922), s. 26-A-Excess Profits Tax Act, 1940 (Act XV of 1940), ss. 7, 8(1) to excess profits-Loss during 'the succeeding year-Profits set off against loss under s. 7 of the Excess Profits Tax Act-Partition of joint family-Appellant firm reconsti­ tuted under fresh agreement-Consisting of five partners-Erstwhile karta and his two brothers and two previous
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