Supreme Court · 1995 INSC 593 · Decided 22 September 1995
M/S. the Andhra Bank LTD., Hyderabad v. The Commissioner of Income Tax, A.P. Lll, Hyderabad
- Court
- Supreme Court of India
- Citation
- 1995 INSC 593 · [1995] SUPP. 4 S.C.R. 41
- Case number
- CIVIL APPEAL No. 4895/1984
- Decided
- 22 September 1995
- Bench
- A.M. AHMADI, S.C. SEN, K.S. PARIPOORNAN (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act
Headnote
ANDHRA BANK LTD., HYDERABAD A V, THE COMMISSIONER OF INCOME TAX, AP. lll, HYDERABAD SEPTEMBER 22, 1995 [AM. AHMADI, CJ, S.C. SEN AND KS. PARIPOORNAN, .LL[ B Companies (Proji1s) Swtax Act, 1964/Banking Regulalion Act, 1949: Ss.2(5), First Sched11/e R11/e 1 cla11se (xi)/Section 17-Swtax 21!'7'r-Held: Would not qua/if)' for exclusion. The dispute raised in these appeals by the appellant-Bank relates to the computation of 'chargeable profits'. It was contended by the appellant-assessee that a reserve fund was created by the assessee bank to comply with the provisions of S.17
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