Supreme Court of India
Poona Electric Supply Co. Ltd. v. Commissioner of Income-tax, Bombay
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
In the result we answer the question referred to the High Court in the affirmative and in favour of the assessee.
Judgment, page 11
From the headnote
Income-tax Act (11 of 1922) s. 10(1)-Projit arrived at after deduct ing amount. according to Electricity (Supply) Act, 1943-Taxoblc in ceme--If deductions can be allowed. The appellant-company was a commercial undertaking, doing the business of supply of electricity .subject to the provisions of Electricity (5upply) Act, 1948. For the purpose of rationalization of rates and keeping them under control, the licensee was directed by the Act to adjust the rates in such a way that the clear profit in any year did 1;1ot exceed the amount ot reasonable return as defined in the Act; but that if an
Where later benches applied it
- 2020 National Co-operative Development Corporation v. Commissioner of Income Tax, Delhi-v
- 2019 The Peerless General Finance and Investment Company Ltd. v. Commissioner of Income Tax
Of those, 2 relied on
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