1984 (9) TMI 108

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..... sessee is Public Limited Company manufacturing sugar. In the relevant accounting year ended on 31st Oct., 1976 the assessee had made provision of Rs. 45,129 for contribution to molasses storage fund which the ITO had disallowed vide para 16.3 CIT(A), however, vide para 5 held that under the aforesaid Act the assessee had statutory liability to make contribution on certain percentages of its sales .....

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