Supreme Court · 1972 INSC 4 · Decided 4 January 1972
S. G. Mercantile CORPN. (P) LTD. v. The C.I.T., Calcutta
- Court
- Supreme Court of India
- Citation
- 1972 INSC 4 · [1972] 2 S.C.R. 980
- Case number
- CIVIL APPEAL No. 1748/1968
- Decided
- 4 January 1972
- Bench
- J.M. SHELAT, G.K. MITTER, I.D. DUA, HANS RAJ KHANNA (4-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Income Tax Act; 1922, ss. 10, 1~ompany formed with the object of acquiring or taking on lease laltds buildings et'C. c:nd dealing with them .commercially-Company taking on lease market place and letting it out­ Income from the leasehold property whether to be assessed unde s. 10 or s. with the object, inter alia, to pur­ .c:hase, take on lease or otherwise acquire and to hold, cultivate, improve, lease, sell, exchange, mortgage, or otherwise dispo_e of lands or houses . .and other real and personal property and to deal with the same commer­ cially. The company took
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