Supreme Court · 1958 INSC 106 · Decided 24 November 1958
Punjab Distilling Industries LTD. v. The Commissioner of Income-Tax, Simla
- Court
- Supreme Court of India
- Citation
- 1958 INSC 106 · [1959] SUPP. 1 S.C.R. 683
- Case number
- CIVIL APPEAL No. 119/1955
- Decided
- 24 November 1958
- Bench
- T.L. VENKATARAMA AIYYAR, P.B. GAJENDRAGADKAR, A.K. SARKAR (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
SUPREME COURT REPORTS 683 the said presumption. We must, therefore, hold 'that the High Court was right in ta.king the view that, on the facts and circumstances proved in t.his ca:::e, the transaction in question is an adventure in the nature of trade. The result is the appeal fails and must be tahing deposit refundable on return of bottles-Balance of deposits after refund, if trading receipt--Indian Income-tax Act (XI of z922), s. IO. The appellant, a distiller of country liquor, carried on the business of selling liquor to licensed wholesalers. Due to shortage of bottles
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