M/S ARISUDANA SPINNING MILLS LD. vs COMMR.OF INCOME TAX,LUDHIANA — C.A. No. 1466/2008

Case Summary: C.A. No. 001466/2008 - Arisudana Spinning Mills Ltd. v. Commissioner of Income Tax, Ludhiana On 5 September 2012, the Supreme Court dismissed all civil appeals filed by Arisudana Spinning Mills Ltd. with no order as to costs. The assessee, a yarn manufacturing company, had claimed a 30% deduction under Section 80IA of the Income Tax Act, 1961 for Assessment Year 1998-1999 on gross income of Rs.51,82,666, but the Assessing Officer denied it because the company failed to maintain separate accounts distinguishing manufacturing income from trading income (sale of raw wool, wool waste, and textiles). The Court upheld the findings of the Income Tax Appellate Tribunal and High Court, holding that the assessee ought to have maintained separate accounts for raw materials sold versus income from yarn manufacturing, and dismissing the appeal on factual grounds. This case analysis is maintained by casestatus.in based on publicly available court records.