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2018 (1) TMI 240 - AT - Income TaxAddition on account of notional interest due to delayed recovery of trade debts from AE - Held that:- First ground of appeal in favour of the assessee , as there is ‘uniformity in the act of the assessee in not charging interest from both AE and Non-AE debtors for delayed realisation of export proceeds. Calculation u/s. 10AA - Held that:- We find that interest on electricity deposit(Rs. 18, 568/-)was on account of security deposited placed for availing electricity connection for its manufacturing unit and therefore, in our opinion, it was eligible for the purpose of calculation u/s. 10AA of the Act. The details filed by the assessee clearly prove that assaying· income(Rs. 5, 73, 575/-)was on account of verifying the characteristics of gold, that refining income(Rs. 3, 200/-)arose out of refining gold and ₹ 42, 000/-were received on sale of residual dust. We hold that income arising out the above referred three activities is directly related to manufacturing and therefore, it is eligible for the purpose of calculation u/s. 10AA of the Act. Considering the peculiar facts of the case under appeal, we are deciding ground in favour of the assessee.
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