CIT v. N.C. Budharaja & Co.

204 ITR 412Supreme Court of India1993#596 most cited

What is CIT v. N.C. Budharaja & Co. authority for?

The word 'production' has a wider connotation than 'manufacture'; every manufacture is production, but not every production amounts to manufacture. 'Production' includes bringing into existence new goods, by-products, or inter-products through a process, which may or may not be manufacture.

164

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2006 to 2026.

Also referred to as

CIT v. N.C. Budharaja & Co. · 204 ITR 412 · production vs manufacture · definition of production · wider connotation of production · Section 80I · Section 80J · Section 80IB · Section 10B · tax incentives · deductions for industrial undertakings

Also reported as

70 Taxmann 312

Sections most often in play

Section 147Section 144Section 10BSection 145Section 148Section 80HHCSection 2(29BA)Section 32(1)(iia)

Issues it is cited on

section 2(29ba)section 32asection 80jsection 32(1)(iia)additional depreciationsection 32(1)section 32section 80isection 80notice under section 148section 10previous year

Judgments citing CIT v. N.C. Budharaja & Co.

M/S. ALKRAFT THERMOTECHNOLOGIES PVT. LTD.,CHENNAI vs. DCIT, CC-1(1), CHENNAI

In the result, the appeals of the assessee for AYs 2011-12, 2012-

ITA 1950/CHNY/2025[2018-19]Status: DisposedITAT Chennai18 Feb 2026AY 2018-19

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr.R. Vijayaraghavan, AdvFor Respondent: Ms.R. Anitha, Addl.CIT
Section 80

…and therefore, the activity being carried out at the UTK Unit constitutes ‘production’ or ‘manufacture’. 15. In support of our above observations, we gainfully refer to the decision of the Hon’ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. (204 ITR 412) wherein it was held that the word ‘production’ is much wider than the word ‘manufacture’ and the findings relevant to the present issue [Page 423] is as follows: “The word 'production' has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufactur…

M/S. ALKRAFT THERMOTECHNOLOGIES PVT. LTD.,CHENNAI vs. DCIT, CC-1(1), CHENNAI

In the result, the appeals of the assessee for AYs 2011-12, 2012-

ITA 1948/CHNY/2025[2013-14]Status: DisposedITAT Chennai18 Feb 2026AY 2013-14

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr.R. Vijayaraghavan, AdvFor Respondent: Ms.R. Anitha, Addl.CIT
Section 80

…and therefore, the activity being carried out at the UTK Unit constitutes ‘production’ or ‘manufacture’. 15. In support of our above observations, we gainfully refer to the decision of the Hon’ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. (204 ITR 412) wherein it was held that the word ‘production’ is much wider than the word ‘manufacture’ and the findings relevant to the present issue [Page 423] is as follows: “The word 'production' has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufactur…

M/S.ALKRAFT THERMOTECHNOLOGIES PVT. LTD.,CHENNAI vs. DCIT, CC-1(1), CHENNAI

In the result, the appeals of the assessee for AYs 2011-12, 2012-

ITA 1947/CHNY/2025[2012-13]Status: DisposedITAT Chennai18 Feb 2026AY 2012-13

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr.R. Vijayaraghavan, AdvFor Respondent: Ms.R. Anitha, Addl.CIT
Section 80

…and therefore, the activity being carried out at the UTK Unit constitutes ‘production’ or ‘manufacture’. 15. In support of our above observations, we gainfully refer to the decision of the Hon’ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. (204 ITR 412) wherein it was held that the word ‘production’ is much wider than the word ‘manufacture’ and the findings relevant to the present issue [Page 423] is as follows: “The word 'production' has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufactur…

M/S. ALKRAFT THERMOTECHNOLOGIES PVT. LTD.,CHENNAI vs. DCIT, CC-1(1), CHENNAI

In the result, the appeals of the assessee for AYs 2011-12, 2012-

ITA 1946/CHNY/2025[2011-12]Status: DisposedITAT Chennai18 Feb 2026AY 2011-12

Bench: Shri Aby T. Varkey & Shri Jagadish

For Appellant: Mr.R. Vijayaraghavan, AdvFor Respondent: Ms.R. Anitha, Addl.CIT
Section 80

…and therefore, the activity being carried out at the UTK Unit constitutes ‘production’ or ‘manufacture’. 15. In support of our above observations, we gainfully refer to the decision of the Hon’ble Supreme Court in the case of CIT vs. N.C. Budharaja & Co. (204 ITR 412) wherein it was held that the word ‘production’ is much wider than the word ‘manufacture’ and the findings relevant to the present issue [Page 423] is as follows: “The word 'production' has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufactur…

ITO-27(3)(1), MUMBAI, VASHI vs. VIRAL INDUSTRIES, MUMBAI

In the result, the appeal filed by the revenue stands dismissed

ITA 6718/MUM/2024[2014-15]Status: DisposedITAT Mumbai29 Jan 2026AY 2014-15

Bench: Shri Sandeep Gosain & Shri Bijayananda Pruseth

Section 143(3)Section 250Section 801BSection 80I

…w that the learned CIT(A) has rightly placed reliance on the decisions of the Hon'ble Apex Court in the cases of Petron Engineering Construction (P) Ltd. reported in 175 ITR 523, Pandian Chemicals Ltd. reported in 262 ITR 278, N.C. Budharaja & Co. reported in 204 ITR 412, IPCA Laboratories Ltd. reported in 266 ITR 521 to arrive at the view that the tax incentive by way of deduction. 80 IB of the Act is predominantly for the purpose of augmenting affordable dwelling and ought to be interpreted in that light. In this view 5 Viral Industries, Mumbai. of the matter, the incentive provisions must be construed in a m…

ROBERT BOSCH ENGINEERING AND BUSINESS SOLUTIONS PRIVATE LIMITED,BENGALURU vs. THE JOINT COMMISSIONER OF INCOME TAX, LARGE TAX PAYERS UNIT, BANGALORE

In the result, the appeal of the Revenue is hereby dismissed

ITA 593/BANG/2020[2012-13]Status: DisposedITAT Bangalore09 Dec 2024AY 2012-13

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Sridhar E, CIT (DR)For Respondent: Date of hearing
Section 115Section 115JSection 237Section 80J

…ies. The Oxford English Dictionary defines "production" as “that which is produced; a thing that results from any action, process, or effort; a product of human activity or effort.” 14.3 The Hon’ble Supreme Court, in the case of CIT vs. N.C. Budharaja & Co. (204 ITR 412), observed that the term "production" is broader than the term "manufacture." The relevant observations of the Hon’ble Supreme Court are as follows: The word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bringing into existence new goods by a process which may or may not amount to manufacture. It also t…

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 2, LTU, BENGALURU vs. M/S. ROBERT BOSCH ENGINEERING AND BUSINESS SOLUTIONS PRIVATE LIMITED, BANGALORE

In the result, the appeal of the Revenue is hereby dismissed

ITA 446/BANG/2020[2012-13]Status: DisposedITAT Bangalore09 Dec 2024AY 2012-13

Bench: Shri Waseem Ahmed & Shri Soundararajan K

For Appellant: Shri Sridhar E, CIT (DR)For Respondent: Date of hearing
Section 115Section 115JSection 237Section 80J

…ies. The Oxford English Dictionary defines "production" as “that which is produced; a thing that results from any action, process, or effort; a product of human activity or effort.” 14.3 The Hon’ble Supreme Court, in the case of CIT vs. N.C. Budharaja & Co. (204 ITR 412), observed that the term "production" is broader than the term "manufacture." The relevant observations of the Hon’ble Supreme Court are as follows: The word 'production' or 'produce' when used in juxtaposition with the word 'manufacture' takes in bringing into existence new goods by a process which may or may not amount to manufacture. It also t…

INFOSYS LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1)(1) , BANGALORE

In the result, the appeal of the assessee is hereby partly allowed for statistical purposes

ITA 962/BANG/2024[2016-17]Status: DisposedITAT Bangalore12 Nov 2024AY 2016-17

Bench: Shri Waseem Ahmed & Shri Keshav Dubeyassessment Year: 2016-17

For Appellant: Shri P.C Kincha, C.AFor Respondent: Shri A Sreenivasa Rao, CIT (DR)
Section 1Section 10ASection 2Section 234BSection 250Section 32A

…IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER Assessment Year: 2016-17 Infosys Limited, Vs. The Dy. Commissioner of Plot 44 & 97A, Konappana, Agrahara, Income Tax, Circle – 3(1)(1), Hosur Road, Electronics City, Bengaluru. Bangalore – 560 100. . PAN – AAACI 4798 L APPELLANT RESPONDENT Assessee by : Shri P.C Kincha, C.A Revenue by : Shri A Sreenivasa Rao, CIT (DR) Date of hearing : 14.10.2024 Date of Pronouncement : 13.11.2024 O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: This is an appeal filed by the assessee…

ACIT(CENTRAL)-1, BHOPAL, BHOPAL vs. DILIP BUILDCON LIMITED, BHOPAL

Appeals are dismissed

ITA 57/IND/2024[2021-22]Status: DisposedITAT Indore17 Oct 2024AY 2021-22

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(2)Section 143(3)Section 32(1)(iia)Section 80

…ACIT, Central-1, Bhopal Vs. Dilip Buildcon Ltd. ITA No. 31 & 57/Ind/2024 - AYs 2020-21 & 2021-22 आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No. 57/Ind/2024 (AY: 2021-22) ACIT, Central-1, M/s. Dilip Buildcon Ltd. Bhopal Plot No. 5, Inside Govind Narayan बनाम/ Singh Gate, Vs. Kolar Road, Huzur, Bhopal (Appellant / Revenue) (Respondent /Assessee) PAN: AACCD6124B Assessee by Shri Hitesh Chimnani and Shri Yash Kukreja, Ld. ARs Revenue by Shri Ram Kumar Yadav, CIT-DR Date of Hea…

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL)-1, BHOPAL, BHOPAL vs. DILIP BUILDCON LIMITED, BHOPAL

Appeals are dismissed

ITA 31/IND/2024[2020-21]Status: DisposedITAT Indore17 Oct 2024AY 2020-21

Bench: Shri Vijay Pal Rao & Shri B.M. Biyani

Section 143(2)Section 143(3)Section 32(1)(iia)Section 80

…ACIT, Central-1, Bhopal Vs. Dilip Buildcon Ltd. ITA No. 31 & 57/Ind/2024 - AYs 2020-21 & 2021-22 आयकर अपीलीय अिधकरण, इंदौर "ायपीठ, इंदौर IN THE INCOME TAX APPELLATE TRIBUNAL INDORE BENCH, INDORE BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITA No. 57/Ind/2024 (AY: 2021-22) ACIT, Central-1, M/s. Dilip Buildcon Ltd. Bhopal Plot No. 5, Inside Govind Narayan बनाम/ Singh Gate, Vs. Kolar Road, Huzur, Bhopal (Appellant / Revenue) (Respondent /Assessee) PAN: AACCD6124B Assessee by Shri Hitesh Chimnani and Shri Yash Kukreja, Ld. ARs Revenue by Shri Ram Kumar Yadav, CIT-DR Date of Hea…

TRAVEL RETAIL SERVICE PRIVATE LIMITED ,MUMBAI vs. ACTI, CIRCLE 8(3)(1), MUMBAI

In the result, appeal of the assessee is allowed

ITA 3211/MUM/2024[2017-18]Status: DisposedITAT Mumbai29 Aug 2024AY 2017-18

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Sunil Kumar Singh, Hon’Ble

For Appellant: Shri Samir Shah, A/RFor Respondent: Shri R.R. Makwana, Sr. D/R
Section 143(3)Section 154Section 36(1)(va)

…d 19/10/1992, the AO withdrew the benefit of investment allowance by taking recourse to the provisions of rectification. The revenue submitted that in the light of law laid down by Supreme Court in the case of CIT v. N. C. Budharaja & Co. [1993] 70 Taxman 312/204 ITR 412 the issue in relation to claiming of investment allowance in the activity of drilling stood decided in favour of revenue. It was contended that once the issue is decided by the Hon'ble Supreme Court against an assessee, the action on the part of AO in invoking section 154 of the Act rectifying the mistake in wrongly granting the benefit to assess…

RAKESH KUMAR,PATNA vs. DCIT, CIRCLE-4, PATNA

In the result, both the appeals of the assessee for AYs 2012-13

ITA 86/PAT/2017[2013-14]Status: DisposedITAT Patna23 Jul 2024AY 2013-14

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. Nos.85 & 86/Pat/2017 Assessment Years: 2012-13 & 2013-14

Section 143(2)Section 143(3)Section 250Section 80I

…Tribunal. 'Wheel' is certainly a different item from the components which are used in the process. 7. Learned counsel for the revenue relied upon judgment of the Hon'ble Supreme Court in Commr. of Income-tax, Orissa v. M/s. N. C. Budharaja and Company, (1993) 204 ITR 412, para 7, to submit that unless the commodity subjected to process of manufacture can be regarded as new and distinct commodity and can no longer be regarded as original commodity, no manufacture was involved. In the present case, the product in question was 'wheel' and continued to be wheel and the Page 14 of 18 I.T.A. No.85& 86/Pat/2017 A Ys:…

RAKESH KUMAR,PATNA vs. DCIT, CIRCLE-4, PATNA

In the result, both the appeals of the assessee for AYs 2012-13

ITA 85/PAT/2017[2012-13]Status: DisposedITAT Patna23 Jul 2024AY 2012-13

Bench: Shri Sanjay Garg & Dr. Manish Boradi.T.A. Nos.85 & 86/Pat/2017 Assessment Years: 2012-13 & 2013-14

Section 143(2)Section 143(3)Section 250Section 80I

…Tribunal. 'Wheel' is certainly a different item from the components which are used in the process. 7. Learned counsel for the revenue relied upon judgment of the Hon'ble Supreme Court in Commr. of Income-tax, Orissa v. M/s. N. C. Budharaja and Company, (1993) 204 ITR 412, para 7, to submit that unless the commodity subjected to process of manufacture can be regarded as new and distinct commodity and can no longer be regarded as original commodity, no manufacture was involved. In the present case, the product in question was 'wheel' and continued to be wheel and the Page 14 of 18 I.T.A. No.85& 86/Pat/2017 A Ys:…

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. COFFEE DAY GLOBAL LIMITED, BENGALURU

In the result, all the COs by assessee in CO

ITA 790/BANG/2024[2017-18]Status: DisposedITAT Bangalore23 Jul 2024AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri C. Ramesh, A.RFor Respondent: Smt. S, Praveena, D.R
Section 1Section 132Section 143(3)Section 148Section 14ASection 153ASection 154Section 234B(3)Section 234D

…r otherwise) in computing the income chargeable under the head “Profits and gains of business or profession” of any one previous year”. 6.4 The Supreme Court in the case of Commissioner of Income-tax vs. N.C. Budharaja and Co. and another reported in [1993] 204 ITR 412, has held that for determining whether manufacturing can be said to have taken place is where the commodity which is subject to the process of manufacturing can no longer be regarded as the original commodity but is recognized in a trade as a new and distinct commodity. 6.5 Reference needs to be made to the decision rendered in the case of Commis…

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BENGALURU vs. COFFEE DAY ENTERPRISES LIMITED, BANGALORE

In the result, all the COs by assessee in CO

ITA 785/BANG/2024[2020-21]Status: DisposedITAT Bangalore23 Jul 2024AY 2020-21

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri C. Ramesh, A.RFor Respondent: Smt. S, Praveena, D.R
Section 1Section 132Section 143(3)Section 148Section 14ASection 153ASection 154Section 234B(3)Section 234D

…r otherwise) in computing the income chargeable under the head “Profits and gains of business or profession” of any one previous year”. 6.4 The Supreme Court in the case of Commissioner of Income-tax vs. N.C. Budharaja and Co. and another reported in [1993] 204 ITR 412, has held that for determining whether manufacturing can be said to have taken place is where the commodity which is subject to the process of manufacturing can no longer be regarded as the original commodity but is recognized in a trade as a new and distinct commodity. 6.5 Reference needs to be made to the decision rendered in the case of Commis…

DEPUTY COMMISSIONER OF INCOME-TAX, , BENGALURU vs. COFFEE DAY ENTERPRISES LIMITED, BENGALURU

In the result, all the COs by assessee in CO

ITA 783/BANG/2024[2017-18]Status: DisposedITAT Bangalore23 Jul 2024AY 2017-18

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri C. Ramesh, A.RFor Respondent: Smt. S, Praveena, D.R
Section 1Section 132Section 143(3)Section 148Section 14ASection 153ASection 154Section 234B(3)Section 234D

…r otherwise) in computing the income chargeable under the head “Profits and gains of business or profession” of any one previous year”. 6.4 The Supreme Court in the case of Commissioner of Income-tax vs. N.C. Budharaja and Co. and another reported in [1993] 204 ITR 412, has held that for determining whether manufacturing can be said to have taken place is where the commodity which is subject to the process of manufacturing can no longer be regarded as the original commodity but is recognized in a trade as a new and distinct commodity. 6.5 Reference needs to be made to the decision rendered in the case of Commis…

DCIT, CENTRAL CIRCLE-1(3), BENGALURU, BANGALORE vs. COFFEE DAY ENTERPRISES, BENGALURU

In the result, all the COs by assessee in CO

ITA 782/BANG/2024[2016-17]Status: DisposedITAT Bangalore23 Jul 2024AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri C. Ramesh, A.RFor Respondent: Smt. S, Praveena, D.R
Section 1Section 132Section 143(3)Section 148Section 14ASection 153ASection 154Section 234B(3)Section 234D

…r otherwise) in computing the income chargeable under the head “Profits and gains of business or profession” of any one previous year”. 6.4 The Supreme Court in the case of Commissioner of Income-tax vs. N.C. Budharaja and Co. and another reported in [1993] 204 ITR 412, has held that for determining whether manufacturing can be said to have taken place is where the commodity which is subject to the process of manufacturing can no longer be regarded as the original commodity but is recognized in a trade as a new and distinct commodity. 6.5 Reference needs to be made to the decision rendered in the case of Commis…

M/S ASHA TECHNOLOGIES,KALA AMB vs. ITO, SIRMOUR

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

ITA 61/CHANDI/2013[2009-10]Status: DisposedITAT Chandigarh19 Jul 2024AY 2009-10

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Aditya Sood, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR
Section 142(1)Section 143(2)Section 250Section 253Section 80I

…fact that every change in an article is the result of a treatment of labour and manipulation. However, this test of manufacture needed to be seen in the context of the above process. The appellant relied on the following cases:- a) 320 ITR page 546 (S.C.) b) 204 ITR 412 (SC) c) 162 ITR 846 (S.C ) d) 209 ITR 854 (Cal) 119 ITR 895 (All) e) 3.6 It was submitted that the action of the Ld. A.O. in treating only the manufacturing of Feeder Clamps as manufacturing was illegal and not sustainable in the eyes of law 3.7 Regarding Welding of ladders and accessories, the appellant submitted that it was getting the ladders…

M/S ASHA TECHNOLOGIES,SIRMOUR vs. ADDL. CIT, SOLAN

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

ITA 388/CHANDI/2012[2007-08]Status: DisposedITAT Chandigarh19 Jul 2024AY 2007-08

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

For Appellant: Shri Vishal Mohan, Sr. Advocate with Shri Aditya Sood, AdvocateFor Respondent: Shri Sarabjeet Singh, CIT, DR
Section 142(1)Section 143(2)Section 250Section 253Section 80I

…fact that every change in an article is the result of a treatment of labour and manipulation. However, this test of manufacture needed to be seen in the context of the above process. The appellant relied on the following cases:- a) 320 ITR page 546 (S.C.) b) 204 ITR 412 (SC) c) 162 ITR 846 (S.C ) d) 209 ITR 854 (Cal) 119 ITR 895 (All) e) 3.6 It was submitted that the action of the Ld. A.O. in treating only the manufacturing of Feeder Clamps as manufacturing was illegal and not sustainable in the eyes of law 3.7 Regarding Welding of ladders and accessories, the appellant submitted that it was getting the ladders…

DCIT CORPORATE CIRCLE 1 (2), CHENNAI vs. M/S CONSOLIDATED CONSTRUCTION CONSORTIUM LTD, CHENNAI

In the result, aforesaid grounds of appeal filed by the Revenue stands dismissed

ITA 2799/CHNY/2019[2011-12]Status: DisposedITAT Chennai10 Jul 2024AY 2011-12

Bench: Shri Aby T. Varkey & Shri S.R.Raghunathaआयकर अपील सं./Ita No.2799/Chny/2019 िनधा"रण वष"/Assessment Year: 2011-12 V. The Dcit, M/S. Consolidated Corporate Circle-1(2), Construction Chennai. Consortium Ltd., No.3, Ii Link Street, Mylapore, Chennai-600 004. [Pan: Aaacc 4214 B] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri A. Sasikumar, CITFor Respondent: Shri S. Sridhar, Advocate
Section 10Section 37(1)Section 40A(2)(b)

…d in the manufacture or production of article or thing and the instant assessee company is engaged in the business of civil construction. 6. The learned CIT(A) failed to appreciate the Apex Court's decision in the case of N.C. Budharaja & Company reported in 204 ITR 412 (SC) the facts of which are squarely applicable to the facts of the assessee company wherein it was held that production of ready mix concrete does not amount to 'manufacture' as defined u/s.32(1)(iia). 6. At the outset, the Ld.AR of the assessee pointed out that this issue is also covered by the order of this Tribunal for earlier AYs 2006-07,…

Showing 1–20 of 164 · Page 1 of 9

...
CIT v. N.C. Budharaja & Co. (204 ITR 412) — Cited in 164 Judgments | BharatTax