Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (3) TMI 1020 - PUNJAB AND HARYANA HIGH COURTAppeal to High Court - The Hon’ble ITAT was holding that sale of scrap in India is not a part of total turnover of the Respondent firm for the purpose of calculation of deduction under section 80HHC - The appeal carried by the assessee challenging the order of the assessing officer was allowed by the Commissioner of Income Tax (Appeals) - The Revenue, aggrieved by the order of the CIT(A) preferred appeal before the Tribunal - The Tribunal upheld the order of the CIT(A) - The appeal of the Revenue was, thus, dismissed. Held that: the matter is concluded in favour of the Revenue by Court in Income Tax Appeal No. 31 of 2002 (Commissioner of Income-tax-III, Ludhiana v. Bicycle Wheels (India) decided on 11.10.2010 - It was held that the sale of scrap in the domestic market would form part of total turnover for calculating the deduction claimed under Section 80HHC of the Act - Hence, the substantial questions of law are answered in favour of the Revenue and against the assessee.
|