1972 (3) TMI 2

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....cates) For the Intervener : A. K. Sen, Senior Advocate (T. A. Ramachandran and D. N. Gupta, Advocates) JUDGMENT SIKRI C.J.- M/S. Standard Vacuum Oil Co. Ltd., the assessee, claimed to deduct Rs. 5,63,670 payable as wealth-tax for the assessment year 1959-60, from its assessable income for that year. The Income-tax Officer disallowed the claim. The Appellate Assistant Commissioner upheld the or....