Supreme Court · 1964 INSC 124 · Decided 16 April 1964
The Commissioner of Income-Tax, MADRAS. v. A. Krishnaswami Mudaliar and Others
- Court
- Supreme Court of India
- Citation
- 1964 INSC 124 · [1964] 7 S.C.R. 776
- Case number
- CIVIL APPEAL No. 250/1963
- Decided
- 16 April 1964
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 13
Headnote
16 776 SUPREME COURT REPORTS [1964] . THE COMMISSIONER OF INCOME-TAX, MADRAS. v. A. KRISHNASW AMI MUD ALI AR AND OTHERS [K. SUBBA RAO, J. C. SHAH AND S. M. SIKRI. JJ.J Income-tax-Trading adventure-Profits of business Com­ putation-Value of stock-in-trade-Inclusion of Value at the end of year for Rs. 1,00,000/- the exploitation rights of a cinematograph film which were to enu're for four years. For the period, December 25, 1947 to August 2, 1948, which was the previous year corresponding to the assessment year 1949-50 the firm filed a voluntary return declaring that Rs. 28,643/-
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