Supreme Court · 1999 INSC 90 · Decided 9 March 1999
Eastern Chemical and Minerals v. Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 1999 INSC 90 · [1999] 1 S.C.R. 948
- Case number
- CIVIL APPEAL No. 526/1992
- Decided
- 9 March 1999
- Bench
- S.P. BHARUCHA, S.S.M. QUADRI, R.C. LAHOTI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 104(1), 104(3), 104
Headnote
- lncom_e_ Tax Act, 1961 : C S. 104, 104(3 )-!ncome-tax on undistributed income of com- panies-Exemption from-Notificatio11 No. S.O. 3210 dated 8.8.1969 granting exemption froni operation of s. 104 to companies exporting goods out of India and receiving sale proceeds i11 India or bringing it into amount to 50% of gross receipts of the business during previous yeat-Receipts from transfer of import licences-Held, do not D fall within the requiremel!ts of the Notification: ! - - ~ The assessee was granted permission, for the purpose of a barter deal, to export ferro silicon and import
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