Supreme Court · 1986 INSC 3 · Decided 8 January 1986
State Bank of Travancore v. Commissioner of Income Tax, Kerala
- Court
- Supreme Court of India
- Citation
- 1986 INSC 3 · [1986] 1 S.C.R. 25
- Case number
- CIVIL APPEAL No. 1860/1973
- Decided
- 8 January 1986
- Bench
- V.D. TULZAPURKAR, SABYASACHI MUKHERJI, RANGANATH MISRA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 36(l)(vii)
Headnote
BANK OF TRAVANCORE v. COMMISSIONER OF INCOME TAX, KERALA JANUARY 8, 1986 [V, D, TULZAPURKAR, SABYASACIU MUKHARJI AND RANGAl'IATH MISRA, JJ, ] Income Tax Act, 1961: 25 Sections 28, 29 & 145 - Banking Company - Advances con­ sidered doubtful of recovery-interest on such 'sticky' advan­ - Concept and notion of real income - Explained. Hethod of account;i.ng - How far relevant for computa­ tion of income, prof.its and gains - Mercantile and cash systems of accounting - Oif fererice between. Devaluation of Indian Rupee - Exchange difference aris­ ing therefrom - Whether
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