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2008 (6) TMI 344 - MADRAS HIGH COURTExport- Special Deduction- The assessee an industrial company, engaged in the business of manufacture and sale of fireworks, excluded the sales tax and excise duty from the total turnover for purposes of the deduction u/s 8HHC, and also claimed exemption in respect of subsidy received in a sum of Rs. 15 lakhs. On wind mill. Assessing officer disallowed the exemption on sale tax and excise duty but charging 100 percent depreciation on subsidy allow exemption on windmill. The Commissioner(Appeals) pass the order for deleting the addition due to excise and sales tax. Tribunal also confirm it. Held that- Tribunal was correct in holding that the excise duty and sale tax collected did not form part of the turnover for he purpose of calculation of deduction.
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