https://www.taxtmi.com/caselaws?id=276365 The High Court of Bombay ruled that Section 10A of the Excess Profits Tax Act cannot be used to tax a business exempted under the third proviso to Section 5. The Court emphasized that Section 10A does not grant the Tax Officer the power to tax such businesses and rejected the argument that it could override the exemption. The judgment clarified that the legislature did not intend to impose tax on businesses exempted under the Act, emphasizing the limitations of Section 10A in extending the Act's applicability to businesses not liable to tax under Section 4. en-us Thu, 09 Oct 1952 00:00:00 +0530 Thu, 08 Nov 2018 11:51:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276365 The High Court of Bombay ruled that Section 10A of the Excess Profits Tax Act cannot be used to tax a business exempted under the third proviso to Section 5. The Court emphasized that Section 10A does not grant the Tax Officer the power to tax such businesses and rejected the argument that it could override the exemption. The judgment clarified that the legislature did not intend to impose tax on businesses exempted under the Act, emphasizing the limitations of Section 10A in extending the Act's applicability to businesses not liable to tax under Section 4. Case-Laws Income Tax Thu, 09 Oct 1952 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276365