Challapalli Sugar Ltd vs The Commissioner Of Income Tax, A.P. ... on 31 October, 1974
The decision in Challapalli Sugars Ltd. v. CIT , in our opinion, is not in any way in conflict with the ratio of the decisions of the Supreme Court in Bombay Steam Navigation Co. (1953) (Pte) Ltd. v. CIT [1965] 56 ITR 52 and India Cements Ltd. v. CIT [1966] 60 ITR 52.