SHRI VIJAY MAKHIJA S/O SHRI GOVIND RAM MAKHIJA vs. THE PRINCIPAL COMMISSIONER OF TAX-I
ITA/81/2019HC Rajasthan29 Jul 2020
Bench: SABINA,PRAKASH GUPTA
For Appellant: Mr. Amit Chaudhary and Mr. Vijay ChawlaFor Respondent: Mr. Ashish Shrivastava, Senior Advocate with Mr
Section 2(15)Section 260ASection 3Section 38Section 38(1)Section 72
276. In clause (b) of Section 10(46) of the IT Act,
“commercial” has the same meaning as “trade,
commerce, business” in Section 2(15) of the IT Act.
Therefore, sums charged by such notified body, authority,
board, trust or commission (by whatever name called)
will require similar consideration — i.e. whether it is at
cost with a nominal markup
