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2012 (9) TMI 152 - AT - Income TaxDeduction u/s 80HHC - exclusion of profit on scrap sale - AO concluded that no expenditure was incurred on generation of scrap and the deduction u/s 80HHC was recomputed by reducing the total sale value of scrap as profit on sale of scrap - Held that:- Aforesaid treatment would mean that the generation of scrap is an activity leading to 100% profits as against normal 10% to 15% profits on the production of finished output of the enterprise. Therefore, only the profit element in the sale of scrap is to be excluded from the profits of the business for determining the profits eligible for deduction u/s 80HHC - Decided in favor of assessee
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