Supreme Court · 2012 INSC 82 · Decided 8 February 2012
M/S Acg Associated Capsules PVT. LTD. v. The Commissioner of Income Tax, Central-Iv, Mumbai
- Court
- Supreme Court of India
- Citation
- 2012 INSC 82 · [2012] 2 S.C.R. 401
- Case number
- CIVIL APPEAL No. 1914/2012
- Decided
- 8 February 2012
- Bench
- S.H. KAPADIA, A.K. PATNAIK, SWATANTER KUMAR (3-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act
Headnote
c Income Tax Act, 1961: s.BOHHC, Explanation (baa) - Deduction under - Held: Ninety per cent of the net interest, which has been included in the profits of the business of the assessee as computed under and Gains of Business or Profession' is to be deducted under clause (1) D of Explanation (baa) to s. BOHHC for determining the profits of the business. ! The question which arose for consideration in the instant appeals was whether while determining the profits of the business as defined in
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