Mcgregor & Balfour Ltd. vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1957-03-16 AY: 1947-48 Section: 2(24), 28(i) Acts: Indian Income Tax Act 1922, Indian Finance Act 1946, Indian Excess Profits Tax Act 1940, Constitution of India Result: Revenue Citation: (1959) 36 ITR 65 (SC) Justices: Sinha, Kapur & Hidayatullah, JJ. Appeal No: Civil Appeal No. 265 of 1956
Whether repayment of excess profits tax received from the United Kingdom constitutes taxable income under the Indian Income Tax Act 1922, and whether section 11(14) of the Finance Act 1946 creates a charging provision proprio vigore --- Held Yes.

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