Supreme Court · 1970 INSC 152 · Decided 11 August 1970
Malegaon Electricity CO. (P) LTD. v. The Commissioner of Income-Tax, Bombay
- Court
- Supreme Court of India
- Citation
- 1970 INSC 152 · [1971] 1 S.C.R. 761
- Case number
- CIVIL APPEAL No. 1345/1967
- Decided
- 11 August 1970
- Bench
- J.C. SHAH, K.S. HEGDE, A.N. GROVER (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66A(2)
Headnote
Indian Jncome·tax A<·t, 1922, s. 10(2) (vii) a11d s. 34-Full disclosure of material facts to Income-tax Officer within meaning of s. 34(1) (a), what amounts to-Failure to show excess of price for which assets sold in return and further failure to show written down value amounts to whether any profits are made under section l 0( 2 )( rii)-Without this being first determined the High Court in reference under section 66( 1) cannot decide whether there has heen failure to disclo.1e material facts, The appellant was a private limited company. The business and assets of
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