Supreme Court · 2005 INSC 430 · Decided 19 September 2005
M/S. George Williamson (Assam) LTD. v. Commissioner of Income Tax, Gauhati
- Court
- Supreme Court of India
- Citation
- 2005 INSC 430 · [2005] SUPP. 3 S.C.R. 303
- Case number
- CIVIL APPEAL No. 6694/2004
- Decided
- 19 September 2005
- Bench
- AR. LAKSHMANAN, P.P. NAOLEKAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 391, 394
Headnote
Companies (Profits) SurtaxAct, 1964-Second schedule, Rule J(iii) and Rule 2 Explanation-Surtax-statutory deduction-Computation of capital of A B a company, for the purpose of surtax assessment-Appellant company acquiring C the Indian undertakings of UK registered companies in accordance with a that there should not be any depletion in the net assets on the date of acquisition from that given in the balance sheets of previous year-Value of the net assets maintained exceeded the price approved by RBI-The differential amount D shown by the company in its balance sheet as a capital
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