Supreme Court · 1956 INSC 17 · Decided 14 March 1956
The Commissioner of Income Tax and Excess Profits Tax, Madras v. The South India Pictures LTD., KARAIKUDI.
- Court
- Supreme Court of India
- Citation
- 1956 INSC 17 · [1956] 1 S.C.R. 223
- Case number
- CIVIL APPEAL No. 32/1954
- Decided
- 14 March 1956
- Bench
- SUDHI RANJAN DAS, NATWARLAL HARILAL BHAGWATI, T.L. VENKATARAMA AIYYAR (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Indian Income Tax Act, 1922 .(XI of 1922), s. 10-Whethsr money received by the Assessee in the accounting period-As a revenue receipt or capital receipt-On the facts and in the circumstances of the instant case. The assessee-a. private limited company-carried on the busi· of films. In some instances the assessee used to produce or purchase films and then distribute the same for exhibi· tion in different cinema halls and in other cases the assessee used to advance monies to producers of films and secure the right of distri· bution of the films
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