Anglo French Textile Co. Ltd. vs Commissioner Of Income Tax
Whether mere purchase of raw materials in British India by a non-resident company through an established agency constitutes a 'business connection' under Section 42(1) and 42(3) of the Indian Income Tax Act 1922, making profits attributable to such purchases taxable in British India --- Held Yes. Whether profits can reasonably be attributed to such purchase operations --- Held Yes.
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