Supreme Court · 1962 INSC 119 · Decided 3 April 1962

The State of Madhya Pradesh v. Binod Mills Company LTD.

Court: Supreme Court of India
Citation: 1962 INSC 119 · [1963] 1 S.C.R. 205
Case number: CIVIL APPEAL No. 228/1960
Decided: 3 April 1962
Bench: P.B. GAJENDRAGADKAR, A.K. SARKAR, K.N. WANCHOO, K.C. DAS GUPTA, N. RAJAGOPALA AYYANGAR (5-judge bench)
Outcome: Dismissed
Case type: Civil

Headnote

... ..... 1 S. C.R. SUPREME COURT REPORTS 205 THE STATE OF MA.DHYA PRADESH , v. BINOD MILLS COMPANY LTD. (P. B. GAJENDRAGADKAR, A. K. SARKAR, K. N. WANCHOO. K. C. DAS GUPTA and N. RAJAGOPALA AYYANGAR, JJ.) War Profits Tax-Assessment o.f company's profits Deduction of managing agent's (1) of r.4 of Sch. I to the Gwalior War Pro fits Tax Ordinance, Samvat 2001, provided: "In computing the profits of a bu~iness carried on by a company, no deduc tion shall be made in respect of the remuneration paid to directors if during any part of the accounting period

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