Supreme Court · 1979 INSC 200 · Decided 10 October 1979
Nirmal Trading Company v. Commissioner of Income Tax, Central (Calcutta)
- Court
- Supreme Court of India
- Citation
- 1979 INSC 200 · [1980] 1 S.C.R. 900
- Case number
- CIVIL APPEAL No. 2310/1972
- Decided
- 10 October 1979
- Bench
- N.L. UNTWALIA, R.S. PATHAK (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 24(1), 66A(2)
Headnote
NIRMAL TRADING COMPANY v. COMMISSIONER OF INCOME TAX, CENTRAL (CALCUTTA) October 10, 1979 [N. L. UNTWALIA AND R. S. PATifAK, JJJ "Speculative transactioni'-Traruactions of sale and purchase settled by harul· i1ll over delivery order.J. and payment by chequea-Transacti'ons are parties, and the transactioas were settled by handing aver delivery orders. There was no evidence and no plea was taken tbat actual delivery of the goods was ever effected either to the assessee or to the subsequent pur· chasers from him. Dismissing assessee's appeal by certificate
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