Supreme Court · 1999 INSC 190 · Decided 15 April 1999
Commissioner of Income Tax, Karnataka v. Sterling Foods, Mangalore
- Court
- Supreme Court of India
- Citation
- 1999 INSC 190 · [1999] 2 S.C.R. 699
- Case number
- CIVIL APPEAL No. 2390/1996
- Decided
- 15 April 1999
- Bench
- S.P. BHARUCHA, R.C. LAHOTI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 80HH, 28
Headnote
B Income Tax Act, 1961 Section 80HH and 28-Deduction-Profits and gains derived from an industrial undertaking-Firm engaged in processing sea food-Sale proceeds C from import entitlements-Claim/or relief including income derived from sale of import entitlements-Permissibility of-Held, the sale from the assessees' industrial undertaking-Thus, not entitled to claim relief in respect of sale proceeds from import entitlements. Section 28 (as amended in 1990)-Applicability of Practice & Procedure D Binding precedent-Division Bench of High Court-Judgment-Later co-ordinate Bench not
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