Supreme Court · 1962 INSC 72 · Decided 27 February 1962
The Income Tax Officer v. Arvind N. Mafatlal
- Court
- Supreme Court of India
- Citation
- 1962 INSC 72 · [1962] SUPP. 3 S.C.R. 455
- Case number
- CIVIL APPEAL No. 502/1960
- Decided
- 27 February 1962
- Bench
- T.L. VENKATARAMA AIYYAR, BHUVNESHWAR PRASAD SINHA, K. SUBBA RAO, N. RAJAGOPALA AYYANGAR, J.R. MUDHOLKAR (5-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution; Companies Act; Income Tax Act Section 34
Headnote
SUPREME COURT REPORTS 455 THE INCOME TAX OFFICER 'I! ARVIND N. MAFATLAL (B. P. SINHA, c. J., K. SUBBA RAO, N. RAJAGOPALA AYYANGAR, J. R. MUDHOLKAR and T. L. VENKATARAMA AIYAR, JJ.) lneome Tax-Partners of registered firm holding shares of company as benamidars of the firm-Error in computing partners of a firm M, which was registered under the Indian Income Tax Act. Three of these four partners held amongst them forty shares in private limited company which was registered in the Phaltan State. For the account year ending 30-9-1945 the Phaltan Company disclosed a net profit, but did
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