Supreme Court · 1999 INSC 178 · Decided 13 April 1999
M/S. Surana Steels PVT. LTD. ETC. ETC. v. The Deputy Commissioner of Income Tax and ORS.
- Court
- Supreme Court of India
- Citation
- 1999 INSC 178 · [1999] 2 S.C.R. 589
- Case number
- CIVIL APPEAL No. 4471/1995
- Decided
- 13 April 1999
- Bench
- S.P. BHARUCHA, R.C. LAHOTI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 205(1), 115; Income Tax Act Section 115
Headnote
B Income Tax Act, 1961 : S. 115-J-Assessee-Book profit-Previous years 'loss' after depreciation-Set off against current year's profit-Validity of­ Held, 'loss' occurring in clause (b) of the proviso to S. 205(1) of Companies Act means 'loss' arrived at after depreciation-Assessee entitled to of S. 115-J Explained-­ Companies Act, 1956-S. 205(1) proviso clause (b). Interpretation of statutes Legislation by incorporation-Held, the provision is to be read plainly D and rules of interpretation to be applied if any ambiguity arises. Words & Phrases: "Loss "-Meaning
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