Supreme Court of India
The Commissioner of Income-tax, Madhya Pradesh and Bhopal v. Messrs. Vyas & Dotiwala
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
In the result, we would answer both parts of the Doliwula question framed, in the affirmative.
Judgment, page 7
From the headnote
I ncome-tax-Assessees financing. cloth distribution scheme-Pro fits, if accrue to assessees-Agreement to utilise profits for charitable purposes-Such profits, if exempt from taxation-Indian Income-tax Act, r922 (XI of r922), s. 4(3) (i-a). The Deputy Commissioner of Amraoti, evolved a scheme for the distribution of standard cloth. The assessees agreed to finance the scheme without charging any interest and were ap pointed financiers and distributors. The orders for the cloth were placed by the Government with the mills and the cloth was deli vered to the assessees upon their paying the
Where later benches applied it
- 2011 Manjit Singh @ Mange v. Cbi, through its S.P.
- 2005 Commissioner of Trade Tax, U.P. and Anr. v. M/s. Kajaria Ceramics Ltd.
Of those, 2 mentioned
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