https://www.taxtmi.com/caselaws?id=125596 The High Court upheld the Income-tax Appellate Tribunal's decision regarding the disallowed claims for the assessment year 1990-91. It ruled in favor of the assessee concerning the carry forward of losses and allowances under Section 115J. However, the Court disagreed with including excise duty and sales tax in turnover for calculating benefits under Section 80HHC, following the Supreme Court's interpretation that these should be excluded from total turnover. The appeal was disposed of accordingly, affirming the Tribunal's rulings on the respective issues. en-us Thu, 04 Oct 2007 00:00:00 +0530 Mon, 22 Dec 2014 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125596 The High Court upheld the Income-tax Appellate Tribunal's decision regarding the disallowed claims for the assessment year 1990-91. It ruled in favor of the assessee concerning the carry forward of losses and allowances under Section 115J. However, the Court disagreed with including excise duty and sales tax in turnover for calculating benefits under Section 80HHC, following the Supreme Court's interpretation that these should be excluded from total turnover. The appeal was disposed of accordingly, affirming the Tribunal's rulings on the respective issues. Case-Laws Income Tax Thu, 04 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125596