General Exporters vs Commissioner Of Income-Tax on 19 December, 1997
With regard to the decision of the Madhya Pradesh High Court in Sagarmal Spg. & Wvg. Mills Ltd. v. CBDT [1972] 83 ITR 130, it may only be mentioned that, subsequently, the Madhya Pradesh High Court has taken a contrary view in Maheshwari Lime Works v. CIT [1984] 147 ITR 801. The Delhi High Court (sic) has also taken a view which is in consonance with the view of our Court." (p. 593)