Supreme Court · 1986 INSC 36 · Decided 12 March 1986
Indo- Aden Salt MFG. & Trading CO. PVT. LTD. v. Commissioner of Income Tax, Bombay
- Court
- Supreme Court of India
- Citation
- 1986 INSC 36 · [1986] 1 S.C.R. 627
- Case number
- CIVIL APPEAL No. 800/1974
- Decided
- 12 March 1986
- Bench
- SABYASACHI MUKHERJI, K.N. SINGH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 147(a), 256(2)
Headnote
627 Jurisdiction to reopen assessment by the Income Tax Officer, when arises - Reopening assessment on the ground that the assessee had obtained depreciation at 6 per cent on the assets as masonry works, but the assets consisted of earth work wholly or substantially - Whether escaped assessment - Income Tax Act, 1961, section 147 (a). A B c A partnership firm business carried on by M/s. lndo Aden D ·• Salt Works Co. was taken over by the appellant-assessee by an agreement dated 24.8.1949. During the assessment year 1950-51, the said Agreement as well as the Valuation
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