Supreme Court · 2017 INSC 279 · Decided 28 March 2017
M/S. Berger Paints India LTD. v. C. I. T. Delhi-V
- Court
- Supreme Court of India
- Citation
- 2017 INSC 279 · [2017] 4 S.C.R. 735
- Case number
- CIVIL APPEAL No. 2162/2007
- Decided
- 28 March 2017
- Bench
- R.K. AGRAWAL, ABHAY MANOHAR SAPRE (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 35D, 35D(3)(b), 143(lB)
Headnote
Income Tax Act, 1961 - s.35D and ss.(l), 143(JB), 143(2) - Whether "premium" collected on subscribed share capital of a company is "capital employed in the business of the Company" C within the meaning of s.35D for claiming deduction of the said · amount u/s.35D - Held: issued share capital is not and cannot be said to be the part of "capital employed in the business of the Company" for the purpose of s.35D(3)(b) - If the intention of the Legislature were to treat the amount of "premium" collecte:l by D Company from its shareholders
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