INDIA LEATHER CORPORATION (PVT.) LTD versus COMMISSIONER OF INCOME-TAX
The company, which is not interested in the public at large, has the additional tax rebate on non-profit profits. The company is mainly engaged in the manufacture or processing of goods. 51% of the company's total revenue should be attributed to the processing of goods. Must be attributed to more than 51% of the revenue generated from the sale of imported chemicals based on the export strength of the leather directly associated with the manufacture or processing of the goods, which is only 10% of the exports manufactured from Assamese. Income is not attributable to the manufacture or processing of goods Section 104 (4) of the Indian Income Tax Act, 1961 Under Section 104, the Company is not entitled to a waiver.
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