Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + SC VAT and Sales Tax - 1985 (3) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1985 (3) TMI 4 - SC - VAT and Sales TaxWhether the sale price of water pumped out and discharged from the mine could be included in the annual net profits from the mine? . Held that:- The facts of the present case go a step further inasmuch as the water pumped out from the mine was separately sold for price and, therefore, obviously it is covered by the provisions of section 6, read with section 72 of the Act. Section 6 does not make any distinction as to whether the income is casual or a regular one. All that we are concerned with is whether the income derived by the sale of water pumped out from the mine is included in the profit from, the mine or not. We have not the slightest doubt that the income derived by sale of water pumped out from the coal mine constitutes a profit derived from the mine. Appeal allowed.
|