Scrap sale proceeds excluded from turnover for tax deduction under Section 80HHC. Precedent followed.

The Supreme Court held that proceeds from scrap sale are not part of total turnover for deduction under Section 80HHC of the Income Tax Act, 1961, following the precedent in Commissioner of Income Tax v. Punjab Stainless Steel Industries & Ors. Appeals were allowed.

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The Supreme Court in Civil Appeal No. 5760-5772 of 2012 and others ruled that proceeds from the sale of scrap are not included in total turnover for deduction under Section 80HHC of the Income Tax Act, 1961. The decision followed the precedent set in Commissioner of Income Tax Vs. Punjab Stainless Steel Industries & Ors. (2014). The appeals were allowed accordingly.

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