Supreme Court · 1973 INSC 106 · Decided 1 May 1973
U.P.STATE Electricity Board, Lucknow v. The Official Liquidator Lower Ganges Jamuna Electricity Distributing CO. LTD.
- Court
- Supreme Court of India
- Citation
- 1973 INSC 106 · [1974] 1 S.C.R. 142
- Case number
- CIVIL APPEAL No. 1201/1967
- Decided
- 1 May 1973
- Bench
- D.G. PALEKAR, A. ALAGIRISWAMI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 10; Electricity Act
Headnote
B Electricity Supply Act, 1948, schedule 6, cl. ·vA-Liability to lu11ul ·over ·derefop1ne11t reserre-Scope of. Under cl. VA of the 6th Schedule to the Electricity Supply Ad, 19~8, on the pur·:hase of an undertaking the development reserve shall be handed over to the distributing company in liquidation and insisted that a certain sum in the development re- serve sho11ld be handed over to it or deducted from the purchase price. The C official liquidator, who \Vas administering th~ company, contended that the development reserve had_ been uSed in adding
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