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2016 (2) TMI 294 - AT - Income TaxEntitlement to deduction under section 80IC - CIT (Appeals) deleted the disallowance - that:- No infirmity in the finding given by the learned CIT (Appeals) as the kit for which registration fee is received by the assessee contains the products of the assessee in which the assessee deals together with the literature explaining the use of the product. By no stretch of imagination, this kit can be said to be not related to the business of the assessee. Since deduction under section 80IC of the Act is allowed on any income on sale of products of the company. The product sold through a kit cannot be said to be not of the business. Therefore, we confirm the action of the learned CIT (Appeals) in deleting the disallowance of deduction under section 80IC of the Act on registration charges to the extent of cost of products contained by the kit. Sale of scrap be held to be eligible for deduction under section 80IC
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