Supreme Court · 1996 INSC 178 · Decided 5 February 1996
The Commissioner of Income-Tax, Tamil Nadu v. City Mills Distributors (P) LTD .
- Court
- Supreme Court of India
- Citation
- 1996 INSC 178 · [1996] 2 S.C.R. 109
- Case number
- TAX REFERENCE CASE No. 11/1982
- Decided
- 5 February 1996
- Bench
- J.S. VERMA, S.P. BHARUCHA, SUJATA V. MANOHAR (3-judge bench)
- Outcome
- Disposed off
- Case type
- Tax
- Acts & sections cited
- Income Tax Act Section 257
Headnote
Income Tax Act, 1961 : S.257-Ref ere nee to Supreme Cowt-Pre-incorporation profit of Com­ pany-Jncludibility of in the assessment of the Company after i11c01pora­ tion-H eld, a Coinpany becomes a legal entity in the eye of law only when it is inc01porated--Company did not exist when tlu! assessment. B c For the assessment year 1974-75, the respondent-assessee filed its D return disclosing an income of Rs. 1, 79,690. The Income Tax Officer found that the promoters of the assessee-Company had carried on business on behalf of the Company prior to its incorporation and had received a
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)