COMMISSIONER OF INCOME TAX-III vs. M/S. CALCUTTA KNITWEARS, LUDHIANA
C.A. No.-003958-003958 - 2014Supreme Court12 Mar 2014
Section 132Section 158B
7) SCC 273)
28.The Australian High Court in Federal Commissioner of
Taxation v. Westraders Pty Ltd, (1980) 144 CLR 55
considered the scope of Section 36A of the Income Tax
Assessment Act, 1936(Cth), which on a literal
interpretation allowed the taxpayer to make a profit
and still claim a loss for tax purposes. The
Commissioner argued the taxpayer
