Supreme Court · 1996 INSC 277 · Decided 19 February 1996
Life Insurance Corporation of India v. Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 1996 INSC 277 · [1996] 2 S.C.R. 795
- Case number
- CIVIL APPEAL No. 295/1979
- Decided
- 19 February 1996
- Bench
- J.S. VERMA, K. VENKATASWAMI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 7
Headnote
CORPORATION OF INDIA A v. COMMISSIONER OF INCOME TAX [J.S. VERMA A.Nb K. VENKATASWAMY JJ.) FEBRUARY 19, 1996 B Income Tax Act, 1961/Life Insurance Corporation Act, 1956-Section 44 read with Rule 2(1)(b) of the First Schedule/S.7-Life Insurance Busi­ ness-Computation of Income-Refund of in any earlier inter-valuation perio~Hamwnious construction of Rule 2(1)(b) of Income Tax Act and Section 7 of Life Insurance Corporation Act wa1Tants such constmction. Interpretation of Statutes-Hmmonious co11stmtion : Legal Maxim : "Lex 11011 cogit ad impossibilia" applicability of D
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