Supreme Court · 1965 INSC 264 · Decided 25 November 1965
Hari Prasad Jayantilal & CO. LTD. v. Income-Tax Officer, Special Investigation Circle-B
- Court
- Supreme Court of India
- Citation
- 1965 INSC 264 · [1966] 2 S.C.R. 732
- Case number
- CIVIL APPEAL No. 871/1964
- Decided
- 25 November 1965
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 35(10)
Headnote
JAYANTILAL & CO. LTD. v. INCOME-TAX OFFICER, SPECIAL INVESTIGATION CIRCLE·B. November 25, 1965 [K. SUBBA RAo, J. C. SHAH ANDS. M. SIKRI, JJ.J Income-tax Act (11 of 1922), ss. 2(6A)C and 35(10)-Volun.tary /iqui"dation of !company-Distribution of accumulated profits by profits. It was resolved to voluntarily wmd up the company with effect from October I, 1957. The liquidator, during the years 1957 to 1959 distributed, from time to time, the accul!'ulated profits to the shareholders and also issued income-tax refund certificates. The Income-tax Officer,
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