COMMISSIONER OF INCOME TAX-III vs. M/S. CALCUTTA KNITWEARS, LUDHIANA
C.A. No.-003958-003958 - 2014Supreme Court12 Mar 2014
Section 132Section 158B
3 which defined the word ‘settlement’ as
meaning ‘any contract or agreement’ was examined. The
Court by adopting a strict literal approach held that only
a contract or an agreement could constitute a settlement
and that Section 49 providing for deed poll was not
applicable and therefore, the taxpayer did not have to pay
any stamp duty.
26.
Lord Granworth
