Commissioner Of Income Tax vs Vijaya Production (P) Ltd.

Authority: Supreme Court Date: 1998-01-15 AY: 1965-66, 1966-67, 1967-68, 1968-69, 1969-70, 1970-71, 1971-72, 1972-73 Section: 155(5), 256(2) Acts: Income Tax Act 1961 Result: Revenue Citation: (2000) 161 CTR (SC) 274 : (2000) 243 ITR 181 (SC) : (2002) 122 TAXMAN 109 Justices: Mrs. Sujata V. Manohar & Syed Shah Mohammed Quadri, JJ. Appeal No: Civil Appeal Nos. 256 to 261 of 1984 & 3464 to 3467 of 1984
Whether the Tribunal was right in cancelling the order of the ITO withdrawing the development rebate already allowed for the assessment years 1965-66 to 1972-73 consequent to the conversion of the assessee's proprietary business into a partnership firm? --- Held: No, in favour of the Revenue.

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