Krishak Bharati Cooperative Ltd vs Joint Commissioner Of Income Tax, N.D

The Supreme Court examined whether service charges received by a multi-state Cooperative Society for supplying ammonia to the Heavy Water Board qualify as eligible profits under Section 80-I of the Income Tax Act. The Court held that the service charges accrued from the appellant's industrial activity and thus did not qualify as eligible profits. The appeal was dismissed due to the appellant's failure to provide necessary contracts and data to support its claim, affirming the decisions of the lower authorities.