https://www.taxtmi.com/caselaws?id=28791 The High Court ruled in favor of the Revenue in a case involving the interpretation of the Fifth Schedule to the Income-tax Act, 1961. It held that "aluminium" in the schedule refers to aluminium metal only, not aluminium articles. The court also determined that the business of manufacturing and selling aluminium articles did not qualify as a priority industry for tax relief under sections 80E and 80-I. Additionally, the court concluded that cash assistance received from the Government constituted revenue receipts, affirming the Tribunal's decision. The High Court granted leave to appeal to the Supreme Court under section 261 of the Income-tax Act, 1961. en-us Thu, 21 Jan 1982 00:00:00 +0530 Thu, 25 Feb 2010 17:00:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28791 The High Court ruled in favor of the Revenue in a case involving the interpretation of the Fifth Schedule to the Income-tax Act, 1961. It held that "aluminium" in the schedule refers to aluminium metal only, not aluminium articles. The court also determined that the business of manufacturing and selling aluminium articles did not qualify as a priority industry for tax relief under sections 80E and 80-I. Additionally, the court concluded that cash assistance received from the Government constituted revenue receipts, affirming the Tribunal's decision. The High Court granted leave to appeal to the Supreme Court under section 261 of the Income-tax Act, 1961. Case-Laws Income Tax Thu, 21 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28791