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Travancore Rayons Ltd. vs Commissioner Of Income-Tax on 30 October, 1985

In Travancore Rayons Ltd. v. CIT [1986] 162 ITR 732, the Kerala High Court was considering a case whether computation of income of a company chargeable under the head "Profits and gains of business or profession" would be governed under section 40(c) or section 40A(5) in respect of the amenities given to a director. It was held that, in view of the non obstante clause in section 40A(1), section 40(c) is controlled by section 40A(5).
Kerala High Court Cites 12 - Cited by 15 - T K Thommen - Full Document
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