CIT v. Associated Industrial Development Co. (P.) Ltd. (Supreme Court)

SUPREME COURT OF INDIA Commissioner of Income-tax versus Associated Industrial Development Co. (P.) Ltd. K.S. HEGDE AND A.N. GROVER, JJ. CIVIL APPEAL NO. 1929 OF1968 SEPTEMBER 7, 1971 JUDGMENT Grover, J. —This is an appeal by special leave from a judgment of the Calcutta High Court in an income-tax reference. The assessee is a private limited company. It acts as managing agents of various companies including National Pipes and Tubes Co. Ltd., Indian Conduit Pipes Ltd. and National Rolling and Steel Ropes Ltd. During the assessment year 1957-58, the accounting year being the...