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Eligibility of deduction under section 80P on Profit to society from storing of trading goods
Case Law Details
- Case Name
- Udaipur Sahkari Upbhokta Thok Bhandar Ltd.Vs Commissioner of Income-tax (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Where the assessee-society was storing the controlled commodities in its godowns as part of its own trading stock, it was not entitled to claim deduction for the margin of profit between issue price and sale price of the controlled commodities under section 80P(2)(e).
FULL TEXT OF THE CASE LAW IS AS FOLLOWS:-
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 4399 OF 2009
(Arising out of S.L.P.(C) No.23889 of 2007)
Udaipur Sahkari Upbhokta Thok Bhandar Ltd.
Versus
Commissioner of Income-tax
Date of Judgment: July 16, 2009
J U D G M E N T
S. H. KAPADIA, J...
