https://www.taxtmi.com/caselaws?id=27627 The court upheld the Tribunal's decision regarding the interpretation of provisions of section 104 of the Income Tax Act for the assessment years 1965-66 and 1966-67. It affirmed the inclusion of settled income from undisclosed profits for determining distributable income, rejecting the assessee's argument against considering such income. The court emphasized the need to adhere to commercial principles and established legal precedents, ultimately ruling in favor of the revenue authorities and upholding the additional super-tax levied under section 104. en-us Fri, 04 Jan 1985 00:00:00 +0530 Mon, 15 Feb 2010 11:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27627 The court upheld the Tribunal's decision regarding the interpretation of provisions of section 104 of the Income Tax Act for the assessment years 1965-66 and 1966-67. It affirmed the inclusion of settled income from undisclosed profits for determining distributable income, rejecting the assessee's argument against considering such income. The court emphasized the need to adhere to commercial principles and established legal precedents, ultimately ruling in favor of the revenue authorities and upholding the additional super-tax levied under section 104. Case-Laws Income Tax Fri, 04 Jan 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27627