Supreme Court · 1972 INSC 96 · Decided 29 March 1972
The Indian Aluminium CO. LTD. v. The C.I.T., West Bengal, Calcutta
- Court
- Supreme Court of India
- Citation
- 1972 INSC 96 · [1973] 1 S.C.R. 15
- Case number
- CIVIL APPEAL No. 1694/1968
- Decided
- 29 March 1972
- Bench
- S.M. SIKRI, A.N. GROVER, A.N. RAY, D.G. PALEKAR, M. HAMEEDULLAH BEG (5-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
INDIAN ALUMINIUM CO. LTD. v. THE C.I.T., WEST BENGAL, CALCUTTA March 29, 1972 15 [S. M. SiKRI, C.J., A. N. GROVER, A. N. RAY, D. G. PALBKAll B · AND M. H. BEG, JJ.J c D Income Tax Act, (1.1 of 1922), $. 10(1) and (2)(xv)-AsseSlt'e a trading company-Payment of weal.~1 tax-If could be t'ie Income Tax Act, l 922, in computing its assessable incom'~ from business for the puroo es of the Income Tax Act. The High Court held against the as- sesSee followirig the decision of this Court in Travancore Titanium Pro· duct Ltd. v. C.I.T., [1966] 3 S.C.R. 321. The test adopted by
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