Supreme Court: Excise duty, sales tax part of turnover for business income calculation

The Supreme Court dismissed the civil appeal by the Department, holding that excise duty and sales tax should be included in the total turnover for calculating 'Business income' under Section 80HHC(3) of the Income Tax Act, 1961, in line with the precedent set in CIT v. Lakshmi Machine Works [2007] 290 ITR 667/160 Taxman 404 (SC).

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The Supreme Court dismissed the civil appeal by the Department regarding the inclusion of excise duty and sales tax in the total turnover for calculating 'Business income' under Section 80HHC(3) of the Income Tax Act, 1961. The decision was based on the precedent set in the case of CIT v. Lakshmi Machine Works [2007] 290 ITR 667/160 Taxman 404 (SC).

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