Supreme Court · 2017 INSC 1060 · Decided 30 October 2017
Sedco Forex International INC. Through It's Constituted Attorney MR. Navin Sarda v. Commissioner of Income TAX. Meerut & ANR.
- Court
- Supreme Court of India
- Citation
- 2017 INSC 1060 · [2017] 11 S.C.R. 399
- Case number
- CIVIL APPEAL No. 4906/2010
- Decided
- 30 October 2017
- Bench
- A.K. SIKRI, ASHOK BHUSHAN (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 4488
Headnote
Income Tax Act, 1961: s.4488 - Scope and illlerpretation - s.4488 starts. with non­ obstante clause, and the formula contained therein for computation of income is to be applied irrespective of the provisions of ss.28 to B c 41 and the Act - For assessment under this provision, a sum equal to 10% of the aggregate of the. amounts specified in sub-section "(2) shall be deemed lo be the profits and 0 gains of such business chargeable to tax under the head 'profits and gains of the business or profession' - Sub-section (2)
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