https://www.taxtmi.com/caselaws?id=6186 The Supreme Court upheld the High Court's decision regarding the interpretation of a contract for hessian cloth supply and export duty reduction treatment. The Court found that the contract had a fixed price term without adjustment for export duty changes. The amount disputed by income-tax authorities was considered part of the sale price received by the assessee, leading to no liability to pay the buyers. The Court dismissed the appeal, affirming inclusion of the amount in the assessee's income for the relevant year. en-us Fri, 17 Apr 1970 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6186 The Supreme Court upheld the High Court's decision regarding the interpretation of a contract for hessian cloth supply and export duty reduction treatment. The Court found that the contract had a fixed price term without adjustment for export duty changes. The amount disputed by income-tax authorities was considered part of the sale price received by the assessee, leading to no liability to pay the buyers. The Court dismissed the appeal, affirming inclusion of the amount in the assessee's income for the relevant year. Case-Laws Income Tax Fri, 17 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6186