Commissioner Of Excess Profits Tax vs Shri Lakshmi Silk Mills Ltd.

Authority: Supreme Court Date: 1951-09-18 Section: 28(i), 56 Acts: Excess Profits Tax Act, Indian Income Tax Act Result: Revenue Citation: (1951) 20 ITR 451 (SC) Justices: Fazl Ali, Mahajan & Mukherjea, JJ. Appeal No: Civil Appeal No. 46 of 1950
Whether income from letting out a temporarily idle commercial asset (dyeing plant) constitutes business income liable to excess profits tax --- Held Yes.

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