Supreme Court · 1977 INSC 30 · Decided 25 January 1977
Textile Machinery Corporation Limited, Calcutta v. The Commissioner of Income-Tax, West Bengal, Calcutta
- Court
- Supreme Court of India
- Citation
- 1977 INSC 30 · [1977] 2 S.C.R. 762
- Case number
- CIVIL APPEAL No. 772/1972
- Decided
- 25 January 1977
- Bench
- HANS RAJ KHANNA, P.K. GOSWAMI, P.S. KAILASAM (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 15C(2)(i), 15C
Headnote
, Indian Income-tax Act, 1922-S. 15C(2) (i)-Scope of Tests for determining when benefit of the section available-Reconstruction-Tests for determination. Section I 5C of the Indian Income-tax Act 1922, which deals with exemption from tax of newly established in sub-s. 2(i) that tl)e sect10n apphes, among others, to any industrial undertaking which is not formed by the splitting up, or the reconstruction of business already in existence. ·The assessee (appellant) was a heavy engineering concern manufacturing boilers, machinery parts and
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