https://www.taxtmi.com/caselaws?id=120265 The Tribunal dismissed the appeals by the Revenue and partly allowed the assessee's appeals. Reassessments were cancelled due to invalid notices under section 143(2) beyond the statutory limit. The Tribunal upheld the CIT(A)'s decisions on excluding sales tax and L/C opening charges from total turnover, reducing net profit by net excise duty paid, and including Excise Duty in direct costs and remuneration to partners and bank overdraft interest in indirect costs for section 80HHC deduction. en-us Fri, 17 Feb 2006 00:00:00 +0530 Wed, 18 Jul 2012 10:52:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120265 The Tribunal dismissed the appeals by the Revenue and partly allowed the assessee's appeals. Reassessments were cancelled due to invalid notices under section 143(2) beyond the statutory limit. The Tribunal upheld the CIT(A)'s decisions on excluding sales tax and L/C opening charges from total turnover, reducing net profit by net excise duty paid, and including Excise Duty in direct costs and remuneration to partners and bank overdraft interest in indirect costs for section 80HHC deduction. Case-Laws Income Tax Fri, 17 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120265