https://www.taxtmi.com/caselaws?id=27770 The High Court of Calcutta ruled in favor of the assessee-company, holding that the interest earned from a distributor under a distributorship agreement should be considered as profits and gains attributable to the priority industry under section 80-I of the Income Tax Act. The Court emphasized that the interest was directly linked to the earning of profits and gains by the assessee-company, making it eligible for relief. The judgment was delivered in favor of the assessee, with each party bearing their own costs. Justice Suhas Chandra Sen concurred with the decision. en-us Mon, 30 Jan 1984 00:00:00 +0530 Tue, 16 Feb 2010 10:14:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27770 The High Court of Calcutta ruled in favor of the assessee-company, holding that the interest earned from a distributor under a distributorship agreement should be considered as profits and gains attributable to the priority industry under section 80-I of the Income Tax Act. The Court emphasized that the interest was directly linked to the earning of profits and gains by the assessee-company, making it eligible for relief. The judgment was delivered in favor of the assessee, with each party bearing their own costs. Justice Suhas Chandra Sen concurred with the decision. Case-Laws Income Tax Mon, 30 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27770