Supreme Court · 1972 INSC 247 · Decided 3 October 1972
T. S. Krishna v. C. I. T. Madras
- Court
- Supreme Court of India
- Citation
- 1972 INSC 247 · [1973] 2 S.C.R. 533
- Case number
- CIVIL APPEAL No. 1671/1969
- Decided
- 3 October 1972
- Bench
- P. JAGANMOHAN REDDY, I.D. DUA, HANS RAJ KHANNA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 57(iii), 256(1), 10(2)(xv)
Headnote
IVeaith Tax Act read n·itli S. .51(iii) of the Jnco111t..· Tax Act­ Jlt'ht:t/zer Wealth Ta:c paid can be deducted as an e:cpel1di1ure ulloll'aftle 11111/<·r S. 57(iiil of the /nconre Tax Ac·t, 1961. During the accounting period 1962-63, the assessee paid Wealth dividend income and interest as an expen.diturc alloY.'• aok under S. 57(iii) of the Income Tax Act. 1961. The l.T.O. rejected the ch1im on the ground that there was no connection between the pay- n1cnt of Wealth Tax and the earning of dh,;den'd income and both. the Appellate Assistant
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