https://www.taxtmi.com/caselaws?id=373906 The High Court of Bombay dismissed both Income Tax Appeals, upholding the Tribunal's decision that the transaction between the assessee and the manufacturer was not a works contract but a purchase on a principal-to-principal basis. The court relied on the precedent set in Commissioner of Income-tax Vs. Glenmark Pharmaceuticals Ltd, emphasizing the importance of factual findings and legal precedents in tax matters. The appeals were dismissed as they did not raise any substantial legal issue regarding the interpretation of works contracts under the Income Tax Act, 1961. en-us Thu, 03 Jan 2019 00:00:00 +0530 Tue, 22 Jan 2019 08:06:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373906 The High Court of Bombay dismissed both Income Tax Appeals, upholding the Tribunal's decision that the transaction between the assessee and the manufacturer was not a works contract but a purchase on a principal-to-principal basis. The court relied on the precedent set in Commissioner of Income-tax Vs. Glenmark Pharmaceuticals Ltd, emphasizing the importance of factual findings and legal precedents in tax matters. The appeals were dismissed as they did not raise any substantial legal issue regarding the interpretation of works contracts under the Income Tax Act, 1961. Case-Laws Income Tax Thu, 03 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373906