Supreme Court · 1957 INSC 88 · Decided 16 October 1957
The Commissioner of Income-Tax v. M/S. Mcmillan & CO.
- Court
- Supreme Court of India
- Citation
- 1957 INSC 88 · [1958] 1 S.C.R. 689
- Case number
- CIVIL APPEAL No. 29/1955
- Decided
- 16 October 1957
- Bench
- NATWARLAL HARILAL BHAGWATI, S.K. DAS, J.L. KAPUR (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
SUPREME COURT REPORTS THE COMMISSIONER OF INCOME-TAX v. M/s. McMILLAN & CO. (BHAGWATI, S. K. DAs and J. L. KAPUR, JJ.) 689 Income-Tax-Assessment-Acceptance by Income-tax Officer <f he assessee's method of accounting-Power of Appellate Assistant Commissioner in appeal-If can reject such magazines in various parts of the world. lt submitted for the assessment year in question a return in which a :fixed percentage of the marked price. of all publications sold in India, printed in India or elsewhere, was adopted as the cost of production and this method of accounting was followed
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