Taxable Profits - Definition - Law Dictionary Home Dictionary Definition taxable-profits

Definition :

Taxable profits, the expression 'Taxable profits' is defined in s. 2(17) as the amount by which the profits during a chargeable accounting period exceed the abatement in respect of that period, C.I.T. v. Standard Vacuum Oil Company, AIR 1966 SC 1393 (1396): (1966) 2 SCR 367.