Supreme Court of India
Calcutta Electric Supply Corporation v. Commissioner of Wealth Tax, West Bengal
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.
What the Court ordered
In the result these appeals fail and they are dismissed with costs-hearing fee one set.
Judgment, page 9
From the headnote
Wealth Tax Act. 1957 s. 7-Computation of value of assets under Assets as shown in balance-sheet can be accepted but Wealth-tax Officer not bound to accept valuation as shown therein-Electricity company seeking deduction of value of service connections installed at cost of con sumers-Assessee failing to prove that service connections 'ere·not in ownership of company-Shown in ha/ance sheet as company's assets Wealth Tax Officer justified in refusing deduction-Fact that service connections are not to be included in company's assets under s.7 of Indian Electricity Act is irrelevant.for the
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