Supreme Court · 1965 INSC 269 · Decided 29 November 1965
M.CT.M. Chidambaram Chettiar v. Commissioner of Income-Tax, Madras
- Court
- Supreme Court of India
- Citation
- 1965 INSC 269 · [1966] 2 S.C.R. 761
- Case number
- CIVIL APPEAL No. 477/1964
- Decided
- 29 November 1965
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 44D(1)
Headnote
761 Indian lncome4ax Act, 1922 (Act 11 of 1922), s. 44D-Firm trans­ ferred assets to Non-resident--lncon1e from Non-resident-If partners of firm assessable separately. A firm, constituted by the assessees who were closely related, trans­ ferred assets to a Corporation carrying on Malaya States. · In consideration of the assets •o transferred the Corporation allotted shares to the partners of the firm. The Income­ tax Officer assessed the partners of the firm separately under s. 44D of the Act in respect of the income of the Corporation, which on
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