TaxTMI 
TaxTMI 
1999 (3) TMI 28
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.... of manufacturing and marketing soft drinks, as a licensee for the brands known as Coca Cola and Fanta. The soft drinks manufactured by it were sold in bottles. The assessee had huge stocks of bottles, in the year 1977, in which year the Coca Cola company withdrew from the Indian market, as it was not willing to comply with certain conditions which the Government of India wanted it to comply with.....
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....any which had provided bottles to a soft drink manufacturer on lease, held that each bottle constituted a plant for the purpose of manufacturing and marketing of soft drinks and it has therefore to be treated as a capital asset the largest profit in relation to which should be determined in the manner provided in the Act. The ratio of that decision applies to the assessee herein as well, who is a....