Bengal Textiles Association vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1960-03-30 Acts: Indian Income Tax Act (pre-1961), Business Profits Tax Act, 1947 Result: Revenue Citation: (1960) 39 ITR 723 (SC) : (1960) TAX 13(3)-364 Justices: S.K. Das, Kapur & Hidayatullah, JJ. Appeal No: Civil Appeal No. 268 of 1955
Whether the profits of Bengal Textiles Association were exempt from taxation under the Business Profits Tax Act, 1947, based on a prior exemption letter --- Held No. Whether Rs. 6,00,000 paid by the Government of Bengal was a subsidy exempt under section 4, proviso (c) of the Business Profits Tax Act --- Held No.

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