Supreme Court of India · 2002-03-19
The Chief Commissioner Of Income Tax, ... vs M/S. Kesaria Tea Co. Ltd
- Citation / case number
- AIR 2002 SUPREME COURT 1473
- Court
- Supreme Court of India
- Petitioner
- The Chief Commissioner Of Income Tax, ...
- Respondent
- M/S. Kesaria Tea Co. Ltd
- Author
- P.Venkatarama Reddi
- Bench
- S. Rajendra Babu, K.G. Balakrishnan, P. Venkatarama Reddi
Judgment text excerpt
The case concerns whether the 'write-back' of a provision made in earlier years for purchase tax liabilities should be treated as taxable income in the year of the write-back. The dispute arose from the assessment year 1985-86 where the assessee reversed a provision of Rs.14,65,997/-. The Supreme Court examined whether such a reversal of a previous provision constitutes taxable income under the Income-tax Act.