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1973 (9) TMI 18 - HC - Income Tax" Whether, the Income of the society from ginning and pressing with the aid of power of a co-operative society engaged in marketing cotton, was exempt under section 81(i)(c) of the Income-tax Act, 1961, as it stood prior to its amendment on 1st April, 1968 ?" The result is that we answer the question referred to us in favour of the revenue and against the assessee-society. Our answer is that, on the facts and in the circumstances of the case, the income of the assessee from ginning and pressing with the aid of power was not exempt under section 81(i)(c) of the Income-tax Act as it stood prior to its amendment on 1st April, 1965
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