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2010 (1) TMI 112 - HC - Income TaxBusiness Income under section 41– Refund of excise duty – The assessee received a sum of Rs. 26,782.22/-, on account of refund of excise duty during the assessment year 1978-79 but Show Cause Notice wee issued disputing the refund. In this case Haryana High Court-held that the refund of excise duty received during the relevant assessment year, would be taxable in that year and mere issue of show cause notice to dispute such refund did not mean that income was not taxable during the said year. The assessee shall be entitled to claim expenditure of such excise duty, if it was found payable in pursuance of the Show cause Notice during the assessment year in which such liability was discharged. – Decision in favor of revenue – against the assessee.
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