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Commissioner Of Income-Taxwest ... vs M/S. Indian Sugar Mills Association on 5 November, 1974

4. It may be noted that the assessee made similar claim in the assessment years 1958-59 to 1961-62 under Section 4(3)(i) of the Indian Income-tax Act, 1922. Regarding the assessee's claims in the aforesaid years the Supreme Court in its decision in the case of Commissioner of Income-tax v. Indian Sugar Mills Association , construing the relevant rules of the assessee-association, held that the income of the association derived from the business of export of sugar and interest from current and fixed deposits were not exempted from tax under Section 4(3)(i) of the Indian Income-tax Act, 1922.
Supreme Court of India Cites 11 - Cited by 1 - A C Gupta - Full Document
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