Supreme Court · 1999 INSC 433 · Decided 21 September 1999
General Insurance Corporation of India v. Commissioner of Income Tax Bombay
- Court
- Supreme Court of India
- Citation
- 1999 INSC 433 · [1999] SUPP. 2 S.C.R. 742
- Case number
- CIVIL APPEAL No. 3283/1998
- Decided
- 21 September 1999
- Bench
- S. RAJENDRA BABU, R.C. LAHOTI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 30to43A, 44
Headnote
Income Tax Act, 1961-Ss. 30 to 43A, 44 read with Rule 5(a) of the First Schedule-Insurance Company-Amount set apart for redemption of preference shares-Debited to profit and loss account-Whether amounts to C expenditure-Held, No-General Insurance Business (Nationalisation) Rules, 1973-Rule 2(2) Construction-Two provisions contained in two D enactments having different purposes to achieve-Held, rule of harmonious construction would not sustain any view creating conflict between the two provisions. Non-obstente clause in S.44-Held, not only overrides the provisions E of the Act but also
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)