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Income Tax - Highlights / Catch Notes

Home Highlights October 2019 Year 2019 This

Excise duty paid under protest is eligible for deduction u/s 43B ...

Income Tax

October 30, 2019

Excise duty paid under protest is eligible for deduction u/s 43B - the amount received towards reimbursement of excise duty from its distributor is a trading receipt which is taxable under the provisions of Section 41

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  5. The amount received by the assessee towards notice period is to be treated as income derived from the eligible undertaking and deduction u/s 10A shall be allowed - AT

  6. Deletion of addition made on account of excise duty – The Excise Duty was paid under protest - merely because assessee contested the liability, the same cannot be disallowed - AT

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  9. Refund claim - Unjust enrichment - price inclusive of duty of excise - maintaining uniformity of price - duty paid under protest - refund allowed - HC

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