Supreme Court · 1969 INSC 53 · Decided 20 February 1969
Karam Chand Thapar & BROS. (P) LTD. v. Commissioner of Income-Tax, (Central) Calcutta
- Court
- Supreme Court of India
- Citation
- 1969 INSC 53 · [1969] 3 S.C.R. 796
- Case number
- CIVIL APPEAL No. 1594/1968
- Decided
- 20 February 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Case Partly allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act
Headnote
Ii: BROS. (P) L1D. v. COMMISSIONER OF INCOME-TAX, (CENTRAL)· CALCUTTA February 20, 1969 [J. c. SHAH, v .. RAMA.SWAMI AND A. N. GROVl!R, JJ.) 8 Income Tax-Single transaction of salt resulting in profit-.,,lun such profit should be deemed to be revenue liable to tax-lncomt-tax A.•t latter Y•-lf Ion .., C allowable deduction under s. 24(1). The assessee-company was carzying on the business of coal minin1· uol of a Dry Ice Factory, in addition to various other kinds of busineas, Jt obtained a prospecting licence, and after prospecting for coal sold it
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