2009 (8) TMI 887

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..... DR, for the Respondent. ORDER Heard both sides on the stay petition. The applicant is manufacturing chlorinated paraffin wax and hydrochloric acid on job work basis for M/s. Kanoria Chemicals & Industries Ltd. As job worker, they were receiving job charges from M/s. Kanoria Chemicals & Industries Ltd. It appears that, in the past i.e prior to April, 2003, they were, while receiving payments fr .....

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..... the expenses under 19 heads totally amounting to Rs. 1,13,93,415.46, as the expenses towards undertaking the job charges and that the receipt as Rs. 1,43.16,160,00 towards conversion charges from M/s. Kanoria Chemicals & Industries Ltd. As a result their profit during financial year was recorded as Rs. 2,92,744.54. Similar is the position for the other years of the disputed period. These clearly .....

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