Supreme Court · 1971 INSC 172 · Decided 29 July 1971
Punjab Produce and Trading CO. LTD. v. C.I.T West Bengal, Calcutta
- Court
- Supreme Court of India
- Citation
- 1971 INSC 172 · [1971] SUPP. 1 S.C.R. 977
- Case number
- CIVIL APPEAL No. 1344/1967
- Decided
- 29 July 1971
- Bench
- K.S. HEGDE, A.N. GROVER (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act Section 23A
Headnote
Income-tax Act, 1922, •· 23A(9) Explanation (b) (ii1)-Share• of com­ pany carrying more than 50% voting ·power held by less than six persotU­ AOairs of company not controlled by le11 than six /HTIOM-Company whether one in which public are subst1111tially 34(1) of Act whether applicable where additional 1u~r·tax is imposed under 1. 23.A. The assessee company was incorporated under the erstwhile Gwalior Companies Act which did not make any distinction between public and private companies. The affairs of the company were not
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