Jcit(Osd) Central Circle 1, ... vs Sahara India Real Estate Corporation ... on 7 October, 2025
In our o pinion the Supreme Court in East
India Pharmace utical Wor ks Ltd.'s case (supra) had the
occasion to consider the decisio n of the Calcutta High
Court in Woo lcombers of India Ltd.' s case (supra) where a
similar iss ue had arise n. Be fore the Supreme Court it was
argued that it sho uld ha ve been presumed that in essence
and true c har acte r the taxes were paid out o f the profits
of the relevant ye ar and ho t out of the overdraft account
10 ITA No. 1085/Del/2024
CO No. 36/Del/2024
Sahara India Real Estate Corporation Ltd.