COMMISSIONER OF INCOME TAX-III vs. M/S. CALCUTTA KNITWEARS, LUDHIANA

2) Act 1915, in isolation, did not apply to businesses that commenced after the outbreak of war in 1914 and observed as follows: “… the principle in favour of a strict literal approach … simply means that in a taxing Act one has to look merely at what is clearly said. There is no room for any intendment. There is no equity