Supreme Court · 1961 INSC 2 · Decided 6 January 1961
The First National City Bank v. The Commissioner of Income-Tax, Bombay CITY.
- Court
- Supreme Court of India
- Citation
- 1961 INSC 2 · [1961] 3 S.C.R. 371
- Case number
- CIVIL APPEAL No. 315/1958
- Decided
- 6 January 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
Headnote
SUPREME COURT REPORTS 371 answered in the affirmative in favour of the appellant. 1 961 The appeals are, therefore, allowed and the judgments Dharamvir DAir and . orders of the High Court are set aside. The Th c v. . . I 'JI h h' . h' C t d . th ' omm1ssioner appe !ant w1 ave IS costs m t IS our M. HrnAYATULLAH and J.C. SHAH, JJ.) Business Profits Tax-" Undivided profits ", if fell within the word" reserves "-Business Profits Tax Act, I947 (XX! of r947), Sch.[[, Rule 2(I). The appellant, a non-resident Banker incorporated under the National Bank Act of the United
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