Supreme Court · 2009 INSC 861 · Decided 6 July 2009
Nectar Beverages PVT. LTD. v. Deputy Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 2009 INSC 861 · [2009] 9 S.C.R. 1174
- Case number
- CIVIL APPEAL No. 5291/2004
- Decided
- 6 July 2009
- Bench
- S.H. KAPADIA, AFTAB ALAM (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 41(1), 41(2), 41
Headnote
Income Tax Act, 1961 - s. 41(1) and (2) - 'Balancing _ charge' - Concept of-Assessment years 1990-91 - 1998-99 C -Purchase of bottles and crates before 1.4.1995, costing less than Rs. 50001- - Sale proceeds of 100% depreciable assets in subsequent years - Profit on sale of assets - Taxability of, of s. 41 (2) - Balancing charge in s. 41(2), if could be read into s. 41(1) - Held: Each of the sub- D sections to s. 41 deal with different and distinct circumstances - One cannot read recoupment under one sub-section into another- Bottles and crates purchased prior to 31.3.1995 not part of
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