https://www.taxtmi.com/caselaws?id=5282 The Supreme Court affirmed the High Court decision that the profits from a glass factory belonged to the assessee company, not the State Government. The Court held that the State Government managed the business on behalf of the assessee, and the profits accrued directly to the assessee to discharge its obligations. As the profits were insufficient for the State Government to claim a share, the appeal was dismissed, with no order as to costs. en-us Fri, 28 Apr 1989 00:00:00 +0530 Sat, 22 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5282 The Supreme Court affirmed the High Court decision that the profits from a glass factory belonged to the assessee company, not the State Government. The Court held that the State Government managed the business on behalf of the assessee, and the profits accrued directly to the assessee to discharge its obligations. As the profits were insufficient for the State Government to claim a share, the appeal was dismissed, with no order as to costs. Case-Laws Income Tax Fri, 28 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5282