Ashok Leyland Ltd. vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1996-12-19 AY: 1966-67, 1967-68 Section: 80E, 80J Acts: Income Tax Act 1961 Result: Assessee Citation: (1997) 138 CTR (SC) 287 : (1997) 224 ITR 122 (SC) : (1997) 90 TAXMAN 223 Justices: B.P. Jeevan Reddy & K.S. Paripoornan, JJ. Appeal No: Civil Appeal Nos. 1295 & 1296 of 1980
Whether income from import and sale of spare parts by a manufacturer of priority industry vehicles qualifies for deduction under sections 80E/80-I of the Income Tax Act 1961 as profits 'attributable to' priority industry --- Held Yes.

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