Supreme Court · 1961 INSC 147 · Decided 12 April 1961
M/S. Rajputana Textiles (Agencies) LTD. v. The Commissioner of Income-Tax, Bombay City
- Court
- Supreme Court of India
- Citation
- 1961 INSC 147 · [1962] 1 S.C.R. 917
- Case number
- CIVIL APPEAL No. 282/1955
- Decided
- 12 April 1961
- Bench
- T.L. VENKATARAMA AIYYAR, S.K. DAS, J.L. KAPUR, M. HIDAYATULLAH, J.C. SHAH (5-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
·suPREME COURT REPORTS M/s. RAJPUTANA TEXTILES (AGENCIES) LTD. v. THE COMMISSIONER OF INCOME-TAX, BOMBAY CITY 917 (S. K. DAS, J. L. KAPUR, M. HIDAYATULLAH, J.C. SHAH and T. L. VENKATARAMA AIYAR, JJ.) Income Tax-Business transaction-Whether adventure in the nature of trade-Intention of the (Investigation Commission) Act, r947 (30 of r947), s. 8(5). The assessee company was promoted with .the idea of obtaining the Managing Agency of the Appollo Mills from M/s. Sassoon & Co., Ltd., who were holding 19,76,000 shares out of a total of 25 lakhs shares of Rs. 2 each. According to the
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)