Apollo Tyres Ltd vs Ckoomcmhiissioner Of Income Tax

The Supreme Court examined three key issues regarding income tax assessments for a company. The primary legal question was whether an Assessing Officer can challenge the correctness of a profit and loss account certified by statutory auditors under the Companies Act when assessing income under Section 115-J of the Income Tax Act. The court also addressed whether dividend income from Unit Trust of India (UTI) investments qualifies as profit from an eligible business under Section 32AB and whether trading in UTI units constitutes a speculation business.