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1974 (7) TMI 2 - HC - Income TaxSuper Profits Tax Act, 1963 - Whether income computed under the Income-tax Act, 1961 can be recomputed for the purposes of Super Profits Tax Act - Tribunal considers this question in proceedings under section 19 of the Super Profits Tax Act, 1963, read with section 260 of the Income-tax Act, 1961. Though, normally, the income computed under Income-tax Act should be the chargeable profits for the purposes of Super Profits Tax Act, its recomputation is necessary due to a mistake in the assessment under Income-tax Act or any other justifiable reason, the income can be recomputed. The question referred to us is, therefore, answered technically in favour of the assessee, leaving the question of deduction for consideration by the Tribunal on merits
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