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2004 (10) TMI 33 - HC - Income TaxDeduction under section 80HHC – excise duty - "(i) Whether Tribunal was right in holding that excise duty does not form part of the total turnover for the purpose of calculation of deduction under section 80HHC? - It is a settled law that though the "total turnover" may include the receipts of excise duty and sales tax, etc., in its general parlance and under specific statutes, because of its wider coverage in the definitions given thereunder, it has to be given a restrictive meaning while computing the "export profit" for the purposes of section 80HHC, namely, only that part of the receipt for sale consideration is to be taken as part of the total turnover which has an element of profit therein, and, accordingly, the receipts of excise duty and sales tax which do not include an element of profit should be excluded from the "total turnover". – no infirmity in tribunal’s order
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