Case Law Details
Case Name : GKW Limited Vs Commissioner of Income Tax (Calcutta High Court)
Related Assessment Year :
Courts :
All High Courts Calcutta High Court
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GKW Limited Vs CIT (Calcutta High Court)- Only profit on the sale of the licence should be chargeable to tax under s 28(iiia) and not the profit which may come in the future on the sale of the licence.
Provisions relating to payment of advance tax are applicable in a case where the total income is deemed to be 30% of the book profits under s 115JA and the Tribunal was justified in upholding the charging of interest under s 234B in the appellant Please become a Premium member. If you are already a Premium member, login here to access the full content.
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