Supreme Court · 2002 INSC 150 · Decided 19 March 2002
The Chief Commissioner of Income Tax, Cochin v. MIS. Kesaria Tea CO. LTD.
- Court
- Supreme Court of India
- Citation
- 2002 INSC 150 · [2002] 2 S.C.R. 571
- Case number
- CIVIL APPEAL No. 1581/2001
- Decided
- 19 March 2002
- Bench
- S. RAJENDRA BABU, K.G. BALAKRISHNAN, P. VENKATARAMA REDDI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 41(1), 256(1)
Headnote
B Income Tax Act, 1961-Section 41(1)-Applicability-Purchase tax liability-Remission or cessatio1>-Benefit of-Assessee made provision in books C of accounts towards purchase tax-Availed benefit of deduction from business income in earlier assessment years-Assessee reversed the same by writing assessment year-Assessing Officer treated sum representing provision towards purchase tax during earlier assessment year as income for relevant assessment year-Whether purchase tax liability ceases and thus, S.41(1) can be invoked to enable Revenue to take D back ;,hat it has allowed
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