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2015 (3) TMI 405 - HC - Income TaxComputation of relief u/s 80HHC - Interpretation of term “Total turnover” - whether Scrap sales should be included in the Total Turnover while computing deduction under 80HHC? - Held that:- As relying on Commissioner of Income Tax-VII Vs Punjab Stainless Industries [2014 (5) TMI 238 - SUPREME COURT] wherein held that the proceeds generated from the sale of scrap would not be included in the "total turnover" - If all accountants, auditors, businessmen, manufacturers, etc., are normally interpreting the term "turnover" as sale proceeds of the commodity in which the business unit is dealing, we see no reason to take a different view than the view normally taken by the persons who are concerned with the said term. - Decided in favour of assessee.
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