https://www.taxtmi.com/caselaws?id=36757 The High Court held that no income liable to tax was earned by the assessee in the joint manufacturing activity with British Drug Houses (India) Private Ltd. and Allen & Hansburys Ltd. The Court found the arrangement did not yield any profit, negating any tax liability. Consequently, the Court did not address the validity of the partnership or the assessments initiated under Section 147(a) of the Income-tax Act, 1961. The Commissioner was directed to pay the costs of the reference to the assessee. en-us Tue, 27 Feb 1979 00:00:00 +0530 Wed, 24 Mar 2010 12:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36757 The High Court held that no income liable to tax was earned by the assessee in the joint manufacturing activity with British Drug Houses (India) Private Ltd. and Allen & Hansburys Ltd. The Court found the arrangement did not yield any profit, negating any tax liability. Consequently, the Court did not address the validity of the partnership or the assessments initiated under Section 147(a) of the Income-tax Act, 1961. The Commissioner was directed to pay the costs of the reference to the assessee. Case-Laws Income Tax Tue, 27 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36757