Bitumen cannot be classified as an ‘other valuable article’ under section 69A: SC

D.N Singh Vs CIT (Supreme Court of India) Ownership and Classification of Bitumen: An Analysis of Section 69A of the Income Tax Act, 1961 and Interpreting ‘Owner’ and ‘Other Valuable Article’ in the Context of Taxation In the present case, the Supreme Court was faced with two principal questions. The first question pertained to whether the assessee could be considered as the ‘owner’ of the goods in question, and the second question revolved around whether ‘bitumen’ could be classified as an ‘other valuable article’ under Section 69A o...