Thiru Arooran SugarLtd. vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1997-07-30 AY: 1963-64, 1964-65, 1965-66, 1966-67, 1967-68 Section: 10(1), 28, 256, 261 Acts: Income Tax Act 1961, Income Tax Rules 1962, Sugarcane Control Order Result: Revenue Citation: (1997) 142 CTR (SC) 9 : (1997) 227 ITR 432 (SC) : (1997) 93 TAXMAN 579 Justices: SuhaC. Sen & S. P. Kurdukar, JJ. Appeal No: Civil Appeal No. 6635 of 1983* Etc. Etc.
Whether sugarcane produced and consumed by the assessee in its sugar manufacturing business should be valued under Rule 7(2)(a) or Rule 7(2)(b) of the Income Tax Rules 1962 for computing business income from composite agricultural and manufacturing activities --- Held: Rule 7(2)(a) applies as sugarcane was ordinarily sold in the market despite price controls.

šŸ”’ Direct Access Blocked

For your security and to prevent unauthorized automated access, individual judgment links cannot be opened directly. Please access this content via Google Search or the TaxPundit Search Portal.

AI Deep Dive
0/5 selected

Membership Required

Unlock official PDFs for all landmark cases.

JOIN NOW āž”
Shopping Cart