Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Contract for Manufacture of Pharmaceutical Products Held to be Sale, Not Works Contract Under Section 194C of Income Tax Act, 1961. The court upheld the ITAT's decision that the agreement between the assessee and the manufacturer was a contract for sale of goods, as property passed only on delivery and the agreement was on a principal-to-principal basis.
12 Mar 2010The appeal by the Revenue under Section 260A of the Income Tax Act, 1961 challenged the order of the Income Tax Appellate Tribunal (ITAT) which held t...
