Supreme Court · 1963 INSC 98 · Decided 10 April 1963
The New Jahangir Vakil Mills CO., LTD. Bhavnagar v. The Commissioner of Income-Tax, Bombay North, Kutch & Saurashtra, Ahmedabad
- Court
- Supreme Court of India
- Citation
- 1963 INSC 98 · [1964] 2 S.C.R. 971
- Case number
- CIVIL APPEAL No. 445/1962
- Decided
- 10 April 1963
- Bench
- S.K. DAS, A.K. SARKAR, M. HIDAYATULLAH (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
SUPRENIE COURT REPORTS 971 THE NEW JAHANGIR VAKIL MILLS co.,-LTD. BHAVNAGAR v. THE COMMISSIONER OF INCOME-TAX, BOMBAY NORTH, KUTCH & SAURASHTRA, AHMEDABAD (S. I\. DAS, A. K. SARKAR and M. HIDAYATULLAJI jj.) Income Tax-Aase,.ee dealer in shares and securities-In­ come from sale if can consider position of assessee before the assessment year. The assessee appellant carried on the business of manu­ facturing and selling textile pit-ce·goods. In the assessment year 1945-46, the Income-tax Officer added to the taxable income of the assessee a sum of Rs.
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