Supreme Court · 1978 INSC 201 · Decided 6 October 1978
Rajapalayam Mills LTD. v. Commissioner of Income Tax, Madras
- Court
- Supreme Court of India
- Citation
- 1978 INSC 201 · [1979] 1 S.C.R. 1138
- Case number
- CIVIL APPEAL No. 1989/1977
- Decided
- 6 October 1978
- Bench
- P.N. BHAGWATI, V.D. TULZAPURKAR, R.S. PATHAK (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 15C
Headnote
Income 1ax Act, 1922, Sec. 15C and Sec. 84 of Jnco111e Tax Act, 1~61, interpretation of. The appellact assessee, a public limited company carrying on business in manufacture and sale of yarn, set up a new industrial undertaking during the financial year ending 31st March, 1959 being the accounting The entire amount of depreciation and develop­ ment rebate in respect of this new unit for the assessment years 1959-60 and 1960-61 were set off against the total profit of the assessee arising out of all units old and new, and therefore nothing remained unabsorbed to be carried forward to
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