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Small Scale Industry Exemption Denied: Clearances of Limited Company and Proprietor Cannot Be Clubbed for Tax Purposes.
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....Denial of SSI Exemption - Clubbing of clearances - the Limited Co. being separate entity and distinct from shareholders, it cannot be said that Shri Venkatesh having 90% of shares in ICPL by virtue of being proprietor of Venky & Co., the clearances could be clubbed. - AT....
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