Supreme Court · 1969 INSC 48 · Decided 19 February 1969
New Savan Sugar & Gur Refining CO. LTD. v. Commissioner of Income-Tax, Calcutta
- Court
- Supreme Court of India
- Citation
- 1969 INSC 48 · [1969] 3 S.C.R. 761
- Case number
- CIVIL APPEAL No. 1593/1968
- Decided
- 19 February 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10
Headnote
Income-tax Act (11 of 1922), ss. 10(2)(vi-a) and (vi-b) Qnd 12(3) and (4)--Scope of s. 10-lf els, (vi-a) and (vi-b) of s. 10(2) could be read bv implication into s. 12. The assessee-company, carrying on the business of crushing sugar cane and gur refining, apprehending loss, entered into a company. Under cl. (7) of the indenture, the consideration of the lease was royalty payable on the manufacture of sugar and molasses and was subject to a minimum payment of Rs. 65,000 per annum. The lease was for a term of 5 years commencttng from !st June 1945 with an option to continue for a
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