Supreme Court · [1997] SUPP. 3 S.C.R. 151 · Decided 20 July 1997
Thiru Arooran Sugars LTD., Madras v. Commissioner of Income Tax, Madras
- Court
- Supreme Court of India
- Citation
- [1997] SUPP. 3 S.C.R. 151
- Case number
- CIVIL APPEAL No. 6635/1983
- Decided
- 20 July 1997
- Bench
- S.C. SEN, S.P. KURDUKAR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 2
Headnote
Income Tax Act 1961: Sections 2(1-A) & 10(1)-Agricultural income to be excluded f omt total income of asses see . A B . Section 295(2)(b)-fncome de1ived partly from agriculture and partly C from business-Computation of income-Liable to be taxed. Income Tax Rules 1962: Rule 7(1)-Computation of used as raw material in busines:r-T o be deducted. Rule 7(2)(a}-Market value-Detemiination of-Average price during relevant previous year--Of goods ordinarily sold in the market-To be deemed market value. D Sugarcane Control Order : Regulation of production, distribution and plice of
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