Supreme Court · 1972 INSC 159 · Decided 31 July 1972
M/S Guzdar Kajora Coal-Mines LTD. Calcutta v. Ilie Commissioner of Income Tax, Calcutta
- Court
- Supreme Court of India
- Citation
- 1972 INSC 159 · [1973] 1 S.C.R. 742
- Case number
- CIVIL APPEAL No. 2132/1970
- Decided
- 31 July 1972
- Bench
- K.S. HEGDE, A.N. GROVER, D.G. PALEKAR (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10(2)(vi)
Headnote
Income Tax Act (11 of 1922), ss. 10(2) (vi) and 10(5)-'0riginal cost to ossessee', meaninJ! of-Polver of Reveriue Authorities to go behind 1he valuation and allocation in sale _deed. The appellant ·purchased on July 1. 1945, the property of a colliery company and the consideration of Rs. 6 in a certain manner among the various items purchased. From the assess- c ment year 1946-47 to the assessment year 1952-53; the appellant. claimed depreciation on the basis of the written down value of the · a.!isets as per the assessment record of the vendor-company, and' the ·
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