Supreme Court · 1961 INSC 77 · Decided 6 March 1961
The Commissioner of Income-Tax, Poona v. Buldana District Main Cloth Importers Group
- Court
- Supreme Court of India
- Citation
- 1961 INSC 77 · [1962] 1 S.C.R. 181
- Case number
- CIVIL APPEAL No. 41/1960
- Decided
- 6 March 1961
- Bench
- J.L. KAPUR, M. HIDAYATULLAH, J.C. SHAH (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 22(4), 3, 27, 4
Headnote
SUPREME COURT REPORTS 181 THE COMMISSIONER OF INCOME-TAX, POONA v. BULDANA DISTRICT MAIN CLOTH IMPORTERS GROUP (J. L. KAPUR, M. HIDAYATULLAH and J. c. SHAH, JJ.) Income Tax-Business by group of persons-Profits ascertain­ ed and shared on joint basis-If Association of Persons-Indian import of cloth from Mills and dis­ tribntion of the same to retailers. Though for different periods the group was differently constituted, one of the members, firm 'H' remained a common member. The profits of the business were distributed amongst the members of the group in propor­ tion
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