Supreme Court · 1997 INSC 199 · Decided 25 February 1997
M/S. South India Steel Rolling Mills, Madras v. Commissioner of Income Tax, Madras
- Court
- Supreme Court of India
- Citation
- 1997 INSC 199 · [1997] 2 S.C.R. 488
- Case number
- CIVIL APPEAL No. 5332/1983
- Decided
- 25 February 1997
- Bench
- S.C. AGRAWAL, G.B. PATTANAIK (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 33(1)(a), 34(3)(a)
Headnote
Income Tax Act, 1961-Sections 33(1)(a), 34(3)(a) 155, 263-Whether revision of assessment by the Commissioner under Section 263 withdrawing development rebate granted to the assessee finn under section 33(1)(a) for C the assessinent years 1962-63, 1963-64, 1967-68, 1968-69 on dissolution of the old before the expiry of the statutory period of eight years prescribed by section 34(3 )(a) is justified and proper-Held : The new partnership firm constituted by the surviving parlner and the legal heirs of the deceased to carry on the same business is D not entitled for the development rebate-As
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