COMMISSIONER OF INCOME TAX-III vs. M/S. CALCUTTA KNITWEARS, LUDHIANA
C.A. No.-003958-003958 - 2014Supreme Court12 Mar 2014
Section 132Section 158B
71 which involved the Finance (No. 2) Act 1915
which imposed excess profits duty on trade or
businesses commenced after the outbreak of the First
World War in 1914. By subjecting the legislation to a
strict literal interpretation, Rowlatt J. held that
the Finance (No. 2) Act 1915, in isolation, did not
apply to businesses that commenced after the outbreak
