Applicability of decision of S.C. in the case of Cambay Electric Supply Industrial Co. v. CIT Gujrat. - Income Tax - 1579/CBDT

INSTRUCTION NO. 1579/CBDT Dated: October 11, 1984 The attention is invited to the decision of the Supreme Court in the case of Cambay Electric Supply Industrial Co. Vs. CIT Gujarat 113 ITR 84 in which the Supreme Court has held that the expression 'attributable to' is of wider important than the phrase 'derived from'. This decision of the Supreme Court makes the Instruction No.596 dated 24-8-73 inoperative. Questions of a similar nature may therefore be decided in the light of the Supreme Court judgement.