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2012 (8) TMI 454 - ITAT, MUMBAITreatment to sales tax set-off/refund & interest refund - part of business profit or not while calculating deduction u/s 80HHC ? - Held that:- As decided in Alfa Laval India Ltd. Versus Deputy Commissioner of Income-Tax [2003 (9) TMI 43 - BOMBAY HIGH COURT] the interest from customers and sales tax set off received by the assessee being assessed as part of the business profits under the head ‘profits and gains of business or profession’, the same could not be excluded while calculating deduction under section 80 HHC - in the absence of any distinguishing feature brought on record by the Revenue direction to the AO not to exclude the sales tax refund while calculating the deduction under section 80HHC of the Act - no mistake in the order of the Tribunal in terms of section 254(2) of the Act and accordingly the Misc. Petition filed by the Revenue is rejected - in favour of assessee.
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