Supreme Court · 1980 INSC 126 · Decided 9 May 1980
Empire Jute CO. LID. v. Commissioner of Income Tax
- Court
- Supreme Court of India
- Citation
- 1980 INSC 126 · [1980] 3 S.C.R. 1370
- Case number
- CIVIL APPEAL No. 1197/1974
- Decided
- 9 May 1980
- Bench
- P.N. BHAGWATI, V.D. TULZAPURKAR, R.S. PATHAK (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
Allowing deduction under section 10(2>(xv) of the Income Tax Act­ Revenue expenditure and Capital expendituret--Membt:r of the Jute Mill Ass0t:iation entering into a working time agreement restricting the number o/ lt•orking hours per week for which the mills shall be entitled to work of such working hours between one mill and another amongst a particular Croup of Mills--Transfer styled as sale of ,~ loom hours-Whether the purchase revenue expenditure or capital expenditure ?\. for the purposes of Section 10(2)(xv) of the Act. ' Right from 1939, the demand of jute in the
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