Supreme Court · 1961 INSC 253 · Decided 31 August 1961
Karanpura Development CO., LTD. v. The Commissioner of Income Tax, West Bengal
- Court
- Supreme Court of India
- Citation
- 1961 INSC 253 · [1962] 3 S.C.R. 368
- Case number
- CIVIL APPEAL No. 376/1960
- Decided
- 31 August 1961
- Bench
- P.B. GAJENDRAGADKAR, K. SUBBA RAO, M. HIDAYATULLAH (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66A(2)
Headnote
368 SUPREME OOURT REPORTS [1962] KAH.ANPURA DEVELOPMENT CO~, LTD. v. THE 00l\ll1ISSWNER OF INCOME-TAX, WEST BENGAL (P. B. GAJENDRAGAD:KA.R; K. SUBBA RAo and . M. HIDAYATULLAH, JJ.) . Income Ta:1:-.Appreciation of Capital or projil3 of busine/111- 0ompanyformedfor acquiring and WQrking coal .Act, 1922 (11 of 1922) 1111. 2(4). 10. · The asseS!'ee company was incorporated in 1920 with the objects, inter alia, of acquiring underground coal-mining and relative rights and to do business of coal raising etc. Power was given under the memorandum of association to lease,
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