Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (12) TMI 830 - HC - Income TaxDeduction u/s 10B(2)(ii) and 10B(2)(iii) - HELD THAT:- The controversy involved in this appeal is squarely covered by a judgment in M/S TRIDENT MINERALS [2018 (12) TMI 640 - KARNATAKA HIGH COURT] . In view of the aforesaid submissions and for the reasons assigned in the aforesaid judgment, substantial question of law No.1 is answered against the Revenue and in favour of the assessee. Computation of loss - Tribunal is right in holding that the loss should be allowed at 3% of the total quantity and not on the quantity of wastage, as computed by the Assessing Authority? - HELD THAT:- The aforesaid substantial question of law which has been framed by a bench of this Court is not a question of law, but is a question of fact as it pertains to the weight of loss on total quantity. Therefore, we are not inclined to answer the same.
|