Supreme Court of India
Broach Distt. Co-operative Cotton Sales Ginning & Pressing Society Ltd. v. Commissioner of Income Tax, Ahmedabad.
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.
What the Court ordered
In the result the appeals are allowed and the question referred by the Income-tax Appellate Tribunal to the High Court must be answered in the affirmative, in favour of the assessee and against the Revenue.
Judgment, page 5
From the headnote
Income Tax Act, 1961: Section 81(i)(c)-Assessee-Co-opera tive Society-Income from ginning and pressing-Whether exempt from tax. The assessee, a co-operative _society, was rendering the service of ginning and pressing raw cotton received from its members and marketing the finished product on their behalf. The assessee charged the members a certain amount6y way of ginning and pressing charges ana further charged commission for the sale of the finished product. For the assessment years 1961-62 to 1963-64, the assessee claimed that the receipts from the ginning and pressing activities were
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