Supreme Court · 1973 INSC 70 · Decided 3 April 1973
Commissioner of Income Tax, West Bengal, Calcutta v. M/S. Hantapara Tea CO., LTD., Calcutta
- Court
- Supreme Court of India
- Citation
- 1973 INSC 70 · [1973] 3 S.C.R. 889
- Case number
- CIVIL APPEAL No. 79/1970
- Decided
- 3 April 1973
- Bench
- K.S. HEGDE, HANS RAJ KHANNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
OF INCOME TAX, WEST BENGAL, B c D E F G CALCUTTA V. M/S. HANTAPARA TEA CO., LTD., CALCUTTA April 3, 1973 [K. S. HEGDE AND H. R. KHANNA. JJ.] Jnco111e-te1x-Assessee's agricultural produce used in assessee's bUsi­ ness-Mc.rket value of p1oduce if deductible expenditure for purposes of Account with c.ertai:a modifications. In the expenses debited in its accounts only the expenses for 1·aising th~tch. bamboo, fuel etc .. grown in the tea estate and u.ed 1n the tea business \vere included. The assessee contended that .the mark.et value of the agriC'ultural produce grown
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