Supreme Court · 1974 INSC 249 · Decided 21 November 1974
Nonsuch Estate LTD. v. The Commissioner of Income-Tax, Madras
- Court
- Supreme Court of India
- Citation
- 1974 INSC 249 · [1975] 2 S.C.R. 806
- Case number
- CIVIL APPEAL No. 1554/1970
- Decided
- 21 November 1974
- Bench
- HANS RAJ KHANNA, A.C. GUPTA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 326, 349to351
Headnote
ESTATE LTD. v. THE COMMISSIONER OF INCOME-TAX, MADRAS November 21. 1974 [H. R. KHANNA AND A. C. GUPTA, JJ.) lncome-taJ: Act, 1922-ASJfe.rsee followed mercantile system of acco11nti111- Debited in boob each year managing ~·ency remuneration for three year­ Claimed dedui:tion in the ye~:r. The assessee who followed the mercantile system of accounting debited i:a ill account books certain sums of money as remuneration of the managing agenta for the assessment years 1957-58 to 1959·60. For the purpose of incomt:-tu the company added back the sum to its taxable income
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)