Supreme Court · 1966 INSC 227 · Decided 25 October 1966
The Commissioner of Income-Tax, Madras v. Sri Meenakshi Mills LTD. & ORS.
- Court
- Supreme Court of India
- Citation
- 1966 INSC 227 · [1967] 1 S.C.R. 934
- Case number
- CIVIL APPEAL No. 1084/1965
- Decided
- 25 October 1966
- Bench
- J.C. SHAH, V. RAMASWAMI, VISHISHTHA BHARGAVA (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 4
Headnote
OF Ii'ICOME-TAX, MADRAS A \'. SRI MEENAKSHI MILLS LTD. & ORS. October 25, 1966 [J.C. SHAH, V. RA~ASWAMI AND V. BHARGAVA, JJ.) lndW.n Income-tax Act (II of 1922), s. 42-Scope--Finding of fact by Tribunol-lnterference by High Court, validity,~orporate entity, if c:ourt can lift veil- The and branch at Pudu­ kottai. T, who wa; a shareholder of the Bank, was the moving figure in the asses.see-companies. The assessees borrowed moneys from the Madu- rai head office of the Bank on the security of fixed deposits made by the asscssees' branches with the Pudukottai branch of th-o
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