Time to be more alert. Tax exemption clause/ notification to be read strictly. If there is ambiguity, it must be interpreted in favour of revenue. Ratio of Sun Exports overruled by Supreme court !!

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Very important SC decision delivered today by 5 members constitutional bench in the case of Dilip Kumar & Co
Tax exemption clause/ notification to be read strictly. If there is ambiguity, it must be interpreted in favour of revenue. Ratio of Sun Exports overruled.
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